Why Bitcoin’s Price Crashed to $20K in minutes

While Bitcoin’s decline comes a day after Silvergate Bank revealed operational challenges, some seem to think that the nature of the crash was far too quick for it to be a direct result of the turmoil. Indeed, the 5-minute chart reveals that the 5% crash happened in no more than 20 minutes.

1. 1. The move caused a considerable tick in the liquidations, which are currently standing at around $243 million across the board for the past 24 hours.
   2. And while the crash comes shortly after Silvergate Bank revealed a lot of operational challenges and many crypto companies abandoned ship, the nature of it seems off.
   3. Intra-day trader and creator of delta-based trading systems 52Skew  took it to Twitter to clarify the reason for this particular crash.
   4. BTC – well, no sharp squeeze up but sharp margin cascade here. What led to this move is a large binance spot sale directly into an area of stacked up longs. Margin call.
   5. BTC well no sharp squeeze up but sharp margin cascade here. What led this move is a large binance spot sale directly into an area of stacked up longs.