/PRNewswire/ Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited.
The Bitcoin correction is upon us after the Coinbase Global Inc (NASDAQ:COIN) direct offering. The hype surrounding that process likely pulled in a lot of fast and loose money, which is now on its way out the door in violent fashion.
The weekend featured what can only be described as a flash crash, as Bitcoin fell nearly 13% in less than 30 minutes on Sunday morning when it broke through it primary upward trendline in place since mid-December, when it was still under the $20k level.
The catalyst was likely technical but inextricably tied to the excess of recent speculative inflows following its breakout about the $62k level into the COIN listing.