Well, anyone who was looking at crypto prices Friday night (EST) witnessed a historic moment. A clear and what had to be coordinated crypto liquidation on the alt market.
I mean, in the 9 years I have been in crypto I have never seen anything like it. Alt coins literally flash crashing from $3 to 60 cents in a 30 minute window only to be back in the high 2's just a couple hours later.
Hive enjoyed the ride as well going from 18 cents to below 10 cents before rebounded some to 14 cents.
The list goes on and on. ATOM, SEI, XRP and so on.
Here's an example...
This is the XRP chart....it looks like so many other alts
No leveraged long was safe
It didn't matter how much buffer you had, if you were leveraged in basically at all you got liquidated. I was in that mix, my SUI leveraged trade that had a liquidation price down at $1.45 while the coin traded at $3.50 got decimated with price going well under a dollar at one point.
Those that trade and happened to be in front of their machine had a chance at some easy money on that spike back up though. I'm sure plenty of algo bots cashed in on both the dump and the pump.
Rumor has it that Blackrock purchased 45,000 bitcoins at an average price of 109K during the flash crash. If true, not surprising at all. Also, probably good in the long run cus blackrock basically just prints money so if they are long bitcoin that is good for bitcoin.