tl;dr
A BitMEX user recently sold over 400 Bitcoins, causing the price of BTC on BitMEX to flash crash to a low of $8,900. This has led to speculation that the seller may be a "rogue seller" or due to a faulty algorithm. BitMEX has initiated a probe into the matter and assured users that the platform is s...
A BitMEX user recently sold over 400 Bitcoins, causing the price of BTC on BitMEX to flash crash to a low of $8,900. This has led to speculation that the seller may be a "rogue seller" or due to a faulty algorithm. BitMEX has initiated a probe into the matter and assured users that the platform is safe.
Consequently, the price of Bitcoin on BitMEX has returned to around $65,000, despite significant fluctuations over the past week. In the last month, Bitcoin has seen a surge of over 25%, despite recent flash crash events on BitMEX.
According to recent reports, this massive sale was caused by a BitMEX user, leading to a significant flash crash in Bitcoin's price. While speculation points towards the possibility of a "rogue seller" or faulty algorithm, BitMEX is currently conducting an investigation into the unusual activity. The platform has assured its users that their funds are safe despite the flash crash, and Bitcoin's price on BitMEX has returned to normal levels after recent fluctuations.
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