Bitcoin fell to just $ 8,100 on October 21 – but only if you are trading for the US market on Binance US.
On Thursday, Binance US unexpectedly printed a one-minute candle showing BTC / USD crashing from $ 65,815 to $ 8,200 – an 87% drop.
Dubbed the “fraudulent wick” by traders, the one-minute BTC price is vastly different from other major exchanges that list one-minute candles with a minimum price of around $ 64,200.
This phenomenon has been occurring more frequently in the last few days and Bitstamp has also seen strange events in the order book.
“Nice job Binance Americans are being forced to join these crappy exchanges where they can all be scammed with ridiculously thin order books. Shit like that shouldn’t happen. It’s not fair that some are off the market, others stay, others fill out and others don’t, ”said popular Twitter trader Crypto Chase. sarcasm.
Candlestick chart BTC / USD 1 hour (Binance) | The source: TradingView
Crypto Chase also addresses the consequences of sudden and erratic price fluctuations on the exchanges, leading to liquidations that traders could otherwise have sustained.
Ironically, it happened when Binance CEO Changpeng Zhao warned of impending volatility.
“Waiting for the terrible volatility of cryptocurrencies in the next few months,” he said tweet on this day.
Meanwhile, on Thursday, many expressed concern that leveraged traders are taking more risk than they can bear.
The financing prices on the exchanges indicate an exaggerated optimism as traders go long BTC – a typical indicator of a correction.
The funding rate rose significantly in the hours after BTC broke recent all-time highs, hitting new highs of $ 67,100.
F.Absurd rate of Bitcoin | The source: Bybt
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Minh Anh
According to Cointelegraph
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
Robinhood Exec Dan Gallagher declined consideration to lead the SEC, affirming his commitment to Robinhood…
Discover why Qubetics, Fantom, and Immutable X are the best cryptos to buy in November…
Sui Foundation partners with Franklin Templeton Digital Assets to enhance DeFi solutions on the blockchain.
See how Bitcoin confronts $99K resistance, Avalanche enjoys a 23% rise, & BDAG achieves a…
Gros Islet, St. Lucia, 22nd November 2024, Chainwire
Nov 18th, Panama - Gate.io, a global leader in digital asset trading, has officially unveiled…
This website uses cookies.