Crypto Flash Crash: $580M Liquidations, BTC Dey Hold $116K
For Monday Asian session, one sudden crypto market flash crash make liquidations reach $580 million, long positions na near $500 million. Bitcoin waka drop reach $114,000 small, Ether fall under $4,200 before e bounce back go around $116,000 and $4,300 respectively. Early morning liquidations itself na $130 million. The sell-off happen because people fear say Russia-Ukraine ceasefire talks no dey move after former President Trump make unexpected talk. US equity futures just small fall but crypto volatility increase wella, clear all excess long liquidity. Traders now dey watch Fed Chair Powell speech wey dem go do on Friday to know if rate cuts fit happen. If Ukraine talks no see progress, crypto market go dey trade inside current range before key macro events. Short-term traders fit dey use real-time liquidation map to manage risk and adjust their positions.
Neutral
Di quick $580 million liquidation show say short-term market get plenty wahala but e no get strong foundation to make market trend go one way. Political gbege about Russia-Ukraine talks make people dey sell, but BTC and ETH slow down for $116K and $4.3K quickly. In the past, similar quick crashes because of big news (like CME expiration) make market just dey move around one place until clear policy message show. Since Fed Chair Powell go talk soon, traders go dey careful and remain dey trade for range short term, dey wait new sign to show if market go rise or fall steady.