BTC, ETH, AI Stock Perpetuals Suddenly Dump as ‘Black Monday’ Fears Surge

The latest highly unexpected moves coinided with new major attacks between Ukraine and Russia. Although the cryptocurrency markets are open during the weekends, they have become prone to volatility over the past several months, which returns on Monday morning. However, something strange happened over the past several hours: most digital assets experienced a sudden flash crash. It wasn’t an isolated case, as major AI stock perpetuals plunged by up to 5% within minutes, before rebounding. At the same time, calls for a “Black Monday” have skyrocketed, which could actually be a blessing in disguise. Flash Crash for All Markets Numerous reports on X outlined the rather unexpected developments that took place on the futures markets. Recall that most financial markets closed a painful week, with the S&P 500 dropping by 2%, the Nasdaq 100 and the Nikkei tanking by roughly 5%, while the KOSPI plunged by nearly 14%. Some major perpetuals, most linked to AI stocks and semiconductor businesses, dropped hard on Saturday evening/Sunday morning, including SOXL (-5.45%), SNDK (-3.6%), MU (-3.42%), and others. Most losses were quickly erased, with markets rebounding from this flash crash, but m...