The BTC/EUR trading pair on Coinbase suffered a flash crash, falling 23.7% at one point
During the market volatility period after BTC soared to a record high in US dollars, the BTC/EUR trading pair on Coinbase experienced a flash crash, plummeting 23.7% from 60,000 euros to 48,529 euros, while the price on Kraken was only as low as 58,400 euros. The cause of the flash crash is not yet clear, and 10 minutes later, BTC/EUR on Coinbase returned to parity with other exchanges.
Flash crashes can usually be attributed to several factors, one of which is a lack of liquidity, where the number of market sell orders is too high compared to the remaining buy orders on the order book, so the price needs to drop to the nearest sufficient bid point. Another reason is errors caused by traders or algorithms, often called "fat finger" trades.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Chinese Analyst Assesses Ethereum’s Status, Says “Whales Have Run Out of Purchasing Power” – Here’s What He Expects
Chinese cryptocurrency analyst phenomenon Murphy evaluated the latest status of Ethereum in his statement. Here are the details.
Skipped Bitcoin Cash? Qubetics ($TICS) Could Be Your Redemption Ticket – Top Cryptos for Significant Returns
The crypto market has been on fire lately. With the spotlight shifting to new and innovative blockchain projects, everyone’s eyes are on which cryptos will make waves this year.Bitcoin Cash: A Missed Opportunity for Significant ReturnsQubetics: Revolutionizing Digital Finance with Real-World Asset TokenizationConclusion: Time to Act on Qubetics
BTC Short Position by ETH Whale Nears $332M
A crypto whale boosts their BTC short position to $332M, facing losses and potential short squeeze risk.Whale Boosts BTC Short Position Amid Market VolatilityRisk of Liquidation LoomsStrategic Buy Orders Placed
Pakistan Launches Crypto Council Led by Finance Minister
Pakistan forms Crypto Council to boost blockchain and crypto adoption, chaired by Finance Minister Muhammad Aurangzeb.Pakistan Takes a Bold Step Toward Crypto AdoptionFinance Minister to Lead the InitiativeFocus on Innovation and Financial Inclusion
Trending news
MoreCrypto prices
More
