According to Jiang Zhuo'er, founder of the Bitcoin Mining Pool (B.TOP), a small flash crash occurred in the entire market around 21:10 UTC+8, with BTC, ETH, and various altcoins entering the market, and non encrypted assets such as crude oil experiencing simultaneous and violent fluctuations. Jiang Zhuo'er suggests not using a unified account to hold a large number of high magnification altcoins multiple times at the same time, because in the joint margin mode, a 50% flash crash of one currency will trigger the joint liquidation of other assets in the account. Jiang Zhuo'er suggests adopting a position by position model for high leverage altcoin trading, isolating positions from each other to avoid extreme market conditions of a single currency affecting the entire account.
