Did A Trader Buy Bitcoin At A 450% Premium? Not Likely: Price Corrects After Glitch
Portfolio Pulse from Murtuza Merchant
Bitcoin (CRYPTO: BTC) spiked to approximately $138,000 on the Binance.US cryptocurrency exchange today due to a glitch. The surge occurred in the Bitcoin/Tether trading pair and lasted mere seconds before prices realigned. The spike likely stems from low liquidity in the Bitcoin/Tether market on Binance.US.
June 21, 2023 | 1:12 pm
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Bitcoin's price spiked on Binance.US due to a glitch, but quickly realigned. The glitch likely resulted from low liquidity in the Bitcoin/Tether market.
The glitch caused a temporary spike in Bitcoin's price on Binance.US, but it quickly realigned with other markets. The low liquidity in the Bitcoin/Tether market on Binance.US is the likely cause of the glitch, but it doesn't have a lasting impact on Bitcoin's overall price.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 100