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Key reason behind Bitcoin and crypto crash
As the cryptocurrency market is swimming in a sea of red with Bitcoin leading the cruise, many in the crypto community started speculating about the reason behind the flagship crypto's plunge. Among those interested in what caused this sudden crash was renowned investor Fred Krueger, who offered his complex theory in a recent X post. The post reads that a large fund shorted MicroStrategy (MSTR) stock and purchased Bitcoin
BTCUSD
at the same time, allocating $1 billion to each side of the trade. Then, on Friday, March 15, the fund was forced to stop out, which caused the sale of $1 billion worth of Bitcoin. This move has allegedly set off further market liquidations, exacerbated by sales from smaller investors, referred to colloquially as "shrimp, crabs and fish
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