On April 26, more than $200 million was liquidated in less than an hour. The move sent Bitcoin prices crashing 8% in a fall to around $27,200.
Around 90% of the liquidations were long positions, according to CryptoPotato. The entire crypto market took a beating, with around $70 billion exiting as total capitalization fell to $1.20 trillion.
However, the asset rapidly recovered during the Asian trading session on Thursday, April 27. BTC had regained 5% since its intraday low to trade at around $29,000 at the time of writing.
Fake News Panic Selling
The panic selling was caused by fake alerts from blockchain analytics firm Arkham Intelligence, which tweeted that Bitcoin wallets linked to the U.S. government and seizures from the Mt. Gox hack had been revived.
The alerts spread across crypto Twitter with high-profile accounts posting: “Mt. Gox and US Govt Wallets Making Transactions.”
“Bitcoin has plunged -9%, just minutes after Mt. Gox wallets went active for the first time in 7 ye
We współpracy z: https://cryptopotato.com/bitcoin-bounces-back-5-from-false-alarm-panic-dump/
