Bitcoin and Ether saw a sharp but short-lived sell-off over the weekend, while several AI stock perpetual contracts also dropped as much as 5% within minutes before bouncing back. Bitcoin briefly fell by about $1,000 and then rebounded $1,200. Ether slid from $2,420 to $2,360 before recovering to $2,410. The move took place while U.S. equity markets were closed, with no obvious news catalyst identified.
According to the report cited by Techub News, the sudden volatility wiped out millions of dollars in leveraged positions. Market commentary described the move either as a weekend shakeout or a warning sign tied to fears of a potential "Black Monday." At the same time, discussion of "Black Monday" surged on X. Kobeissi Letter pushed back on that narrative, saying such crowded expectations often lead to the opposite outcome, and predicted the S&P 500 could soon reach a record 8,000.
Bitcoin and Ether both saw a sudden weekend flash drop, and several AI stock perpetual contracts also fell as much as 5% within minutes before rebounding, according to Techub News, which cited CryptoPotato.
Bitcoin briefly lost about $1,000 and then bounced $1,200. Ether fell from $2,420 to $2,360 before recovering to $2,410.
Market commentary described the move as either a weekend shakeout or a warning of a potential "Black Monday."
The sell-off happened while U.S. stock markets were closed, and the report said there was no obvious news catalyst. Millions of dollars in leveraged positions were liquidated during the move.
At the same time, discussion around "Black Monday" surged on X. Kobeissi Letter said expectations like that often produce the opposite result and predicted the S&P 500 could soon hit a record 8,000.
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