1011 Flash Crash and Stream Default: Unveiling the Root Causes of the Rapidly Deteriorating Sentiment in the Crypto Market
Original title: Why Did Crypto Sentiment Get So Bearish?
Original author: Jack Inabinet, Bankless
Compiled by: Peggy, BlockBeats
Editor’s Note: Just four days after Bitcoin hit a record high, the crypto market experienced an unprecedented “10/10 flash crash,” with major cryptocurrencies plummeting, numerous altcoins going to zero, and exchanges facing liquidation crises. Simultaneously, highly leveraged funds like Stream Finance collapsed, revealing the fragile nature of “trust me and you’re good to go” bubbles. Optimism on social media quickly turned into panic, severely damaging market confidence.
This article reviews the ins and outs of this series of events, attempting to answer a key question: Why has the sentiment in the crypto…
