According to Coin360, on Wednesday, October 23, the BTC price fell from $ 7,950 to $ 7,450 in just five minutes.
And although the reason The decline in asset prices is not yet clear, such a sharp jump marks the end of a period of low BTC volatility. The asset is currently trading at a low in mid-May, just below the $ 7,500 mark.
Recall that on September 24, the price of BTC fell belowmarks $ 10,000 and has since tried to recover. However, now a strong bearish momentum was pushing it below $ 8,000. It is worth noting that an hour before the recession on the BitMEX exchange, $ 201.1 million longs were eliminated.
According to the materials cointelegraph.com