Bitcoin Flash Crashed to $8.9K on BitMEX
Yes, you read the title right. Late Monday, $Bitcoin(BTC.CC$ suffered a brief crash to as low as $8,900 on cryptocurrency exchange BitMEX, while prices on other exchanges held well above $60,000.
The slide began at 22:40 UTC, and within two minutes, prices fell to $8,900, the lowest since early 2020, according to data from the charting platform TradingView. The recovery was equally quick, with prices rebounding to $67,000 by 22:50 UTC.
Throughout the boom-bust episode on BitMEX, BTC’s global average price was around $67,400.
The slide began at 22:40 UTC, and within two minutes, prices fell to $8,900, the lowest since early 2020, according to data from the charting platform TradingView. The recovery was equally quick, with prices rebounding to $67,000 by 22:50 UTC.
Throughout the boom-bust episode on BitMEX, BTC’s global average price was around $67,400.
Some observers on social media platform X allege that whale selling catalyzed the price crash. According to syq, someone sold over 850 BTC ($55.49 million) on BitMEX, driving the XBT/USDT spot pair down to $8,900.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
104686276 : It lost a Lot, it recovery a Lot,
guess who is going to sell that a Lot, guess who is going to recover it by buying it again a lot,
where is that trilion coming from? just within one Moment?
good question
Those are not public