Bitcoin was the star yesterday in a frantic and chaotic two-hour interval that shook prices up and down in a very short time frame. Each movement shifted the price of BTC by about US$3,000 in both directions, highlighting the aggression that marked the session.

This latest wave of volatility has hit traders hard. In the last 24 hours, more than 120,000 positions were liquidated, with total losses nearing US$400 million.