@niuma44ni88
Bitcoin's short - term price "flash crashes" and rapid rebounds do not necessarily imply potential systemic risks. From the market structure perspective, the cryptocurrency market has limited liquidity and a relatively small scale, so small - volume transactions can cause large - scale price fluctuations. Regarding participant behavior, investors' panic - selling due to negative news and subsequent buying driven by FOMO (fear of missing out) or positive expectations can lead to such extreme price movements.
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