On Monday, the queen of cryptocurrencies fell as much as $8,900 on crypto exchange Bitmex while trading above $67,000 elsewhere.

After the flash crash of bitcoin on Coinbase two weeks ago, a much bigger fall took place this Monday, March 18. Around 10:40 p.m., bitcoin briefly fell 87% to $8,900 on crypto exchange Bitmex.

At the same time, the queen of cryptocurrencies was trading around $67,400 on other exchange platforms. “This market slide seems due to a succession of massive sales for a total of 1,000 bitcoins in 3.5 hours on the platform,” we can read on the specialized media Cryptoast.

“The funds are safe”

Bitmex has launched an investigation into “unusual activity involving a user selling large orders” on its bitcoin-USDT spot market.

“The trading platform is operating normally and all funds are safe,” Bitmex said in a statement.

Although the situation quickly returned to normal after a few minutes, investors should remain cautious of the volatility of bitcoin at the moment. After reaching a peak above $73,000 last week, it’s been a cold shower for bitcoin in recent days. The queen of cryptocurrencies has lost 12% in one week, including 7% in the last 24 hours. At 10:45 a.m. French time this Tuesday, March 19, bitcoin is trading below $64,000 according to data from Coinmarketcap.

Source: https://www.bfmtv.com/crypto/bitcoin/frayeur-sur-le-marche-crypto-le-bitcoin-chute-quelques-minutes-de-87-sur-bitmex_AV-202403190401.html

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