exchange rate – What caused bitcoin to fall ~$10k on 17 April 2021?

12 minute old news from TheBlockCrypto twitter feed:

$7.6 billion crypto long positions liquidated in one hour as bitcoin plunges to $52,000

Context

According to statista, the total market capitalization of bitcoin is approximately 1100 billion USD.

So 7.6 billion represents well over half a percent of bitcoin’s entire market cap, explaining why such a large sell off would have a visible effect on the market price.