Bitcoin Price Dropped To $5,400 On This Platform!

Bitcoin price has experienced the lowest levels of the last month. The bearish momentum seen in the market on Monday and Tuesday has been brutal for the cryptocurrency. Most notably, the Bitcoin (BTC) price dropped below $40,000. But while the market was dealing with it, there was a flash crash on a trading platform.

Bitcoin lost almost 90 percent of its value on this platform

cryptocoin.com As we reported, while the market has been dealing with bearish since the beginning of the week, there was a record flash crash on trading platform Pyth Network. The crash was so great that the Bitcoin price lost almost 90 percent of its current value. This price drop on Monday lasted about two minutes. The price went as low as $5,400. The crash occurred between the BTC-USD pair on the Pyth Network. The Solana-based network also saw the confidence interval for Bitcoin (four times the reported price of the asset) drop to $21,623.

Pyth Network acknowledged the crash on their Twitter account and told its users that they are working to find out what caused it. “Engineers are continuing to investigate the cause and are working to make a full report,” he said.

Why has the Bitcoin price crashed so much?

It is not yet clear what the cause of the drop was. So far, it looks like no other couple has been affected by the drop. Also, no other cryptocurrency has been reported to suffer the same fate as Bitcoin. The fall led to massive purges on the platform. The crash undoubtedly affected a number of Pyth Network users. The network apologized to the affected users and said, “We are very sorry for any harm suffered by Pyth customers.”

Here are 5 Developments That Could Affect Bitcoin Price This Week!

The team has asked those affected by the flash crash to reach out to the team via Twitter or Discord. The team continues to work to find the cause of the collapse and will produce a report on their investigation. Meanwhile, BTC started to recover in the spot market. The leading cryptocurrency, which fell below $40,000 in the last hours of Tuesday, is trading at $42,346 at the time of writing.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram and YouTube join our channel!

Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.

Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.


source site