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Bitcoin price flash crashes by 87% to $8K on Binance US
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Bitcoin (BTC) crashed to just $8,100 on Oct. 21 — but only if you were trading on Binance's dedicated United States exchange, Binance U.S.
On Thursday, Binance U.S. suddenly printed a one-minute candle which took BTC/USD from $65,815 to $8,200 — a drop of 87%.
In what traders call a "scam wick," the one-minute BTC/USD differed dramatically from other major exchanges, which logged a one-minute candle with a floor around $64,200.
The phenomenon has occurred more frequently in recent days, with Bitstamp also seeing freak order book events.
The scope of the Binance U.S. error, however, was in a league of its own, and did not go unnoticed by market participants.
"Well done Binance U.S.," popular Twitter trader Crypto Chase summarized.
Crypto Chase
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