Bitcoin temporarily surged to as much as $138,000 on crypto exchange Binance.US earlier today in a sudden price wick on the btc/tether trading pair, exchange data shows.

Prices shot up to those levels for a few seconds at 6:50 a.m. UTC before immediately reverting to parity with other bitcoin spot markets. Other trading pairs for bitcoin traded as normal.

The move was unlikely to have been caused by a trader wanting to pay a nearly 450% premium for bitcoin, which currently exchanges hands for just over $29,000 in European morning hours on Wednesday.

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