Can Ahmet 
Bitcoin (BTC) experienced a sudden price drop earlier today, allegedly triggered by a technical glitch on the TradingView platform. The glitch erroneously displayed Bitcoin’s market dominance as zero, causing widespread panic in the crypto markets.
Details of the TradingView Error and Market Reaction
A technical error on TradingView’s Bitcoin dominance chart showed BTC’s share of the total crypto market cap as 0%. This misinformation quickly spread on social media, inciting panic selling. As a result, Bitcoin’s price plunged approximately 4%, reaching the $95,000 level.
Liquidation of BTC Long Positions
The panic-induced sell-off led to significant liquidations of long positions on Bitcoin. According to CoinGlass data, BTC long positions worth approximately $33 million were liquidated within a four-hour window. This incident underscores the sensitivity of markets to erroneous data and highlights the risks associated with technical errors in widely used platforms.
Fortunately, the TradingView error was swiftly corrected. However, the sudden price movement and liquidations serve as a stark reminder for all investors to exercise caution and be prepared for unexpected market disruptions.
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