According to the source, several market makers including Wintermute paused trading during last week’s Bitcoin flash crash, which reduced on-exchange liquidity and contributed to sharper price swings. The source reports that as liquidity providers stepped back, bid-ask spreads widened and slippage increased across BTC pairs, intensifying the move. The source adds that market maker risk controls triggered temporary trading halts to manage adverse selection, removing order book depth and exacerbating short-term volatility, a key consideration for traders focused on execution quality.

According to @JasonSoraVC, BlackRock bought 45,000 BTC at an average price of $105,000 during the flash crash, implying a large institutional bid on the dip (source: @JasonSoraVC). According to @JasonSoraVC, the author believes this buying likely prevented a cascade of liquidations and a breakdown below the $100,000 level (source: @JasonSoraVC). According to @JasonSoraVC, the stated 45,000 BTC at $105,000 implies $4.725 billion notional, indicating the $5 billion figure is a rounded estimate based on the figures provided (source: @JasonSoraVC). Traders seeking confirmation should monitor iShares Bitcoin Trust (IBIT) daily creations/redemptions and any related disclosures, according to BlackRock and the SEC’s standard reporting channels (source: BlackRock IBIT disclosures; SEC EDGAR). For trade setup, focus on whether $100,000 holds as support and if buy interest reappears near $105,000 where the author indicates bids occurred, according to @JasonSoraVC (source: @JasonSoraVC).

According to @Andre_Dragosch, Bitcoin crashed to 0.11M ($110,000) in a post on X dated Aug 25, 2025 (source: @Andre_Dragosch on X). The post offers no exchange, chart, or trade evidence and is a single-line remark, so the claim is uncorroborated at source time (source: @Andre_Dragosch on X). Based on the source’s claim and lack of details, traders should first verify whether a $110,000 print occurred across major spot and perpetual venues before taking positions (source: @Andre_Dragosch on X). Given the source’s wording of a “crash,” traders may prioritize checking for outlier wicks near $110,000, cross-venue price alignment, and recent prints on high-liquidity pairs to avoid reacting to a stale or venue-specific move (source: @Andre_Dragosch on X). If confirmed, setting alerts around $110,000 and using limit orders can help manage slippage during potential volatility implied by the post (source: @Andre_Dragosch on X).