Bitcoin on the Binance.US exchange has jumped to $138,000
21/06/2023
Abnormal activity at Binance US comes amid problems with regulators and a loss of market share.
Extreme pump of BTC
BTC on the Binance.US exchange has momentarily surpassed $138k paired to the USDT Stablecoin. That's almost 400% above the current market price and double Bitcoin's all-time high of late 2021.
According to TradingView, the sudden jump only lasted a few seconds. According to the Binance.US website, 62.22 BTC was traded on the exchange during that moment, which is nearly $1.8 million at current prices.
Such a sharp jump in the exchange rate suggests that someone in the market bought that amount in bitcoins for USDT. If this is true, given the exchange's low liquidity, all available sell orders on Binance.US were immediately executed at real prices along with those orders placed at an inflated rate "for luck".
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