Bitget Token (BGB) Falls 52% Due to ‘Market Slowness’, Says Crypto Exchange, While Promising Compensation

Flash crashes are not uncommon in cryptocurrencies, although it is often difficult to explain why many holders of an asset suddenly decide they want to sell. In BGB’s case, the catalyst was likely “general market sluggishness” stemming from the holidays and Asian Golden Week, among other factors, Ryan Lee, chief analyst at Bitget Research, said in an email.