The Largest Single Crypto Liquidation Event In 2023 Just Happened -- What Does This Mean For Your Crypto Stocks?
Friday, August 18, was a rough day for cryptocurrency investors. Bitcoin (CRYPTO: BTC) fell more than 8% in 24 hours, dropping to prices not seen since the middle of June. Ethereum (CRYPTO: ETH) followed a similar pattern with a peak price drop of 7.4%.
A huge volume of forced crypto liquidations drove Friday's action. In fact, there hasn't been a liquidation event of this scale all year long, and it didn't take much news to trigger this dramatic market reaction. Is this unpredictable volatility spike an outlier, or is this how the crypto market will work from now on?
Understanding what drove this massive liquidation event is crucial for investors navigating the crypto landscape. So let's take a look.
Source Fool.com
