Once again, we have witnessed another flash crash in the crypto market. This time, the Bitcoin price crash led to a 30% loss, wiping out over $12,000 from BTC dollar value. Altcoins failed to sustain their gains as well, as Ethereum price plunged to lows under $2,000 for the first time since April.
Following the Easter weekend, the cryptocurrency market has seen a massive week of institutional adoption. From news of State Street building a new crypto trading platform for banks to Chinese tech firm Meitu allocating $10 million to Bitcoin — the rate of crypto adoption doesn’t seem to be slowing down.