“A flash crash transpired on Huobi as BTC went all the way down to $28,800 before recovering just as sharply. At the same time, the liquidations are well above $2.5 trillion on a daily scale as the entire market is deep in the red.
“As reported earlier, bitcoin, and the entire cryptocurrency market, went through one of its worst crashes in recent history. BTC plummeted by $16,000 in a day from around $58,000 to an intraday low of $42,000 on Bitstamp and most exchanges.
“However, other trading venues saw even more dramatic price drops. Such was the case with the BTC/USDC trading pair on Huobi, where bitcoin dropped all the way down to $28,801, as the picture below shows.”
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