The price of Bitcoin (BTC) on Binance.US, the US subsidiary of the largest crypto exchange Binance, briefly saw $ 138,000.
Bitcoin price activity on Binance’s US subsidiary Binance.US drew attention. 21 June 04:00′Bitcoin price as a result of the sudden movement in 138 thousand dollars reached. After the surge seconds later The price has returned to its normal course.
Experts say that the sudden price increase Low liquidity in BTC/USDT trading pair tied up. At the time of this movement, Bitcoin is already 4%It has been up more than 1,000 times and is likely one or more of a hefty order entered on the Binance.US board. a sudden surge created.
According to Binance.US data, during the second fluctuation, approximately $1.8 million worth 62.22 Bitcoin changed hands. This is so far for Bitcoin price highest price transaction was recorded as.
Liquidity melted after SEC lawsuit
One of the possible reasons for this low liquidity is seen as the lawsuit initiated by the US Securities and Exchange Commission (SEC) against Binance. Leading market makers making statements after the lawsuit wintermute And keyrockreported that they have withdrawn from Binance.US.
The sudden departure of these individuals and companies made Binance.US leaving you with limited liquidity can make it difficult for traders to execute their orders effectively. On the other hand, in periods when there is no volume and depth in the market, a large amount of simple transactions by a single user can result in serious fluctuations, as seen in this example.
Looking at the market data, Binance.US specifically BTC/USDT in trading pair 400 thousand dollars on the price of the transaction 2% It looks like it could create a surge. Compared to this BTC/USD to create the same effect in 842 thousand dollars volume is required.
According to CoinGecko data, in the last 24 hours 8.2% Bitcoin, which has a bullish performance, at the time of writing from $28,933 is being traded.
