Bitcoin, the largest cryptocurrency by market cap, dropped to $8,200 on the Binance.US exchange within seconds! Following the October 20 ATH, the following candle was recorded on the BTC chart, touching below $10,000.
BTC dropped to $8,000 in seconds!
It is unclear whether this extreme volatility was due to deliberate market manipulation or a costly error. Anomalies were also observed on the Kraken exchange, where Bitcoin (BTC) briefly dropped to $54,000. The benchmark cryptocurrency is trading at $64,500 on major spot exchanges at the time of writing.
Bitcoin hit an all-time high just above the $67,000 mark on October 20, but has since lost some gains as volatility has shown its ugly side.
Binance.US was launched in late 2019 as an offshoot of the Binance exchange to fend off regulatory pressure in the US. In early August, the stock market made headlines after CEO Brian Brooks abruptly resigned just months from the job.
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