Bitcoin Flash Crashes on Bitstamp

bitcoin flash crash nov 22 2020

Bitcoin has insta-dropped by some €2,000 ($2,400) within one minute on the BTC/EUR pair on one of the biggest crypto exchanges, Bitstamp. The crash (pictured) occurred at 10:44 UTC, dropping from €15,200 to €13,100 on what appears to be volumes of 757 BTC, worth $13.5 million. The next candle instantly returns back to the previous price, with 86 bitcoins ($1.5 million) exchanging hands at 10:45 UTC at the price of €15,200. Asked for comments, a Bitstamp spokesperson said: “We’re unfortunately not able to provide you with any information. The prices on our platform are set by the market’s forces of supply and demand, which are beyond our control and influence.” As we can’t zoom in further than one minute candles, we can’t quite see very well what occurred here, with it potentially a fat finger considering the 10x-ed volumes in that one minute candle. It could also be a glitch,…

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