CoinDesk Podcast Network Bitcoin Suffers Flash Crash to As Low As $80K | CoinDesk Daily
Nov 21, 2025
Bitcoin takes a nosedive, tumbling about 8% amid a severe liquidity crunch, leading to nearly $2 billion in liquidations. Traders are feeling the heat, with 396,000 wiped out, including a jaw-dropping $36.7 million position. Meanwhile, Calci catches the spotlight with its billion-dollar valuation and compliant market position. Plus, crypto advocates are rallying to urge President Trump on key regulatory issues. Can the market bounce back, or is more turbulence ahead?
AI Snips
Chapters
Transcript
Episode notes
Prices Hit Deep But Showed Some Recovery
- Bitcoin briefly dropped as low as about $80,000 before recovering toward $84,000 during the sell-off.
- Ether fell to about $2,700 and the altcoin-heavy CoinDesk 20 index plunged roughly 10%.
Flash Crash Triggered Massive Liquidations
- Crypto markets experienced an abrupt, violent sell-off with Bitcoin and Ether each falling about 8% in 24 hours.
- CoinGlass recorded nearly $2 billion in liquidations and roughly 396,000 traders wiped out during the move.
Calci Scores Massive $1B Raise
- Prediction-market startup Calci closed a $1 billion funding round at an $11 billion valuation led by Sequoia and Capital G.
- The raise positions Calci as a regulated rival to Polymarket under CFTC oversight.