Black Monday hits crypto, Over $1B longs wiped in flash crash

The global cryptocurrency market is having its own Black Mirror episode as more than $1.4 billion in liquidations just wiped out bullish dreams across the board. Bitcoin (BTC) got slapped down under $76K and altcoins are painting the town red. It is turning out to be Black Monday for the financial markets.

• More than $1.4 billion in liquidations nuked the crypto future market, and over 450K traders liquidated.
• A brutal 87% of positions were long bets, meaning the majority didn’t see this collapse coming.
• Tariffs on 180+ countries have triggered global financial panic. US stock futures spiraled: S&P 500 down 6%, Nasdaq 6.2%.