Bitcoin flash crashes to $47,510 on Lyra DEX

Bitcoin experienced a flash crash on the decentralized exchange (DEX) Lyra, with its price briefly dropping to around $47,510 at approximately 3:50 p.m. UTC on Feb. 25, according to CoinNess market monitoring. The crypto-focused Telegram channel Cybertruck explained that while Lyra's order book had buy orders for about 700-800 BTC down to the $45,000 level, a sell order exceeding this amount appears to have triggered the crash. The price immediately recovered its losses. Cybertruck suggested that the seller likely made a typographical error, intending to place a limit sell order at $67,511 but mistakenly entering $47,511. The address suspected of causing the flash crash with a large market sell order is believed to be 0xF2224BF4f29205522E1400720217d3F19709331c. The event has since been removed from Lyra's charts.