To be Expected!
Bitcoin Price Flash Crashes to $10,075
At approximately 10:09 ET, the bitcoin jumped to a one-hour high of $11,399, which placed it just below the all-time high of $11,441 it had set at 9:13. Apparently — after observing resistance at $11,500 — a whale had set $11,400 as his or her target exit vector because at 10:11, the candle turned red, and three minutes later, this trader unleashed a massive market sell order.
This sell order caused the bitcoin price careen down to $10,075, representing a decline of $1,324 — or 12 percent of bitcoin’s total value — in just four minutes. For reference, the bitcoin price did not even reach $1,324 until May 1 of this year.