Bitcoin rate fell to $8900 on the BitMEX crypto exchange
The Bitcoin (BTC) rate collapsed by 85% on the night of March 19, immediately dropping to $8,900 on the BitMEX exchange in pairs with the USDT stablecoin. At the same time, the Bitcoin rate on other cryptocurrency exchanges remained above 60 thousand. Then BTC fully recovered on BitMEX, and at 10:10 Moscow time the first cryptocurrency was trading at $64,237.
According to BitMEX, the reason for the fall was large orders to sell the first cryptocurrency. The exchange is investigating the incident.
According to TradingView, the sudden drop began at 1:40 Moscow time and lasted about two minutes. The recovery was just as fast: by 2:30 Moscow time prices had risen to $67,000.
According to calculations by social network user X under the pseudonym @syq, about a thousand bitcoins were sold during abnormal transactions on BitMEX.
In response to the user's message, representatives of the exchange said that they would investigate the abnormal activity associated with the sale of a large number of bitcoins on the spot market, and added that this incident did not affect the situation in the derivatives market.
