The price of bitcoin was trading up to USD 138,000 on the Binance.US exchange in the early hours of this Wednesday, June 21.
It was at 6:50 AM (UTC time) when, for a few seconds, the price of the main digital currency against the stablecoin tether (USDT) reached that figure. Then, it resumed its “normal” price (that is, the one mostly accepted by the market). The main reason for this drastic fluctuation in the bitcoin price on Binance.US was the low liquidity that the platform is currently experiencing. This phenomenon is a result of the recent lawsuits that the United States Securities and Exchange Commission (SEC) has filed against that company, accusing it of allowing the trading of unregistered securities. Many users of the American subsidiary of Binance withdrew their funds from the platform, faced with the possibility of freezing money or bankruptcy of the company. It is worth clarifying that neither of these two things has happened with Binance, at least so far.