On Christmas Day, according to Gate market data, the price of Bitcoin was reported at $87,836.6, a slight increase of 1.01% within 24 hours.
On October 11, Bitcoin plummeted nearly 5% in just three hours without any major news catalysts, rapidly dropping from around $91,500 to a low of $86,950.
This flash crash, dubbed the “Sunday slam,” triggered a chain reaction: in the past 24 hours, the total cryptocurrency liquidation across the network reached $309 million, of which $267 million were long positions, affecting over 91,000 traders.
01 Market Overview: Christmas Day Calm and Sunday Storm
On Christmas Day, Gate market data shows that the price of Bitcoin temporarily stabilized around $87,836.6, 2