Bitcoin Flash Crashes on bitFlyer

bitflyer flash crash oct 28 2020

Bitcoin dropped by more than $1,000 in one minute on Japan’s biggest crypto exchange, bitFlyer. The crash occurred at precisely 5:16 am UTC when it insta dropped to precisely $12,500 and appears to be a glitch with it remaining there for nine minutes until 5:24 am. Then it returns back to its starting price of circa $13,700 and moves on as if nothing happened. Bitcoin’s price reached almost $14,000 here but a small move down was followed by this flash crash and then a more gradual move down. Bitcoin is now at $13,000, with it falling significantly today as Dow Jones shaves off 3.30% amid lockdown uncertainty. What exactly happened at bitFlyer is not clear however with bids maybe pulled, perhaps a fat finger, or just a technical glitch. But, CME bitcoin futures expire this Friday with them Wall Street bankers sometime employing a half long half short ‘strategy.’ The…

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