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BTC$64378
ETH$3098
BNB$561
XRP$0.51
Bitcoin recently reached its all-time high of 2020 and made a high of 12,071 USD in the early hours of yesterday morning prior to facing a noteworthy decline.
Bitcoin plunged by over one thousand USD in a matter of minutes. However, the overall market sentiment is apparently not structured.
Notably, the trading volumes for the digital asset have climbed significantly in recent weeks, together with significant price action.
The abrupt drop in prices came soon after a large outbreak formed a wick up to 99,964 USD on a quarterly Bitcoin futures contract on crypto exchange Binance.
Even though the reason behind the one thousand USD sell-off is not known, it may have been prompted by a wave of computerized liquidations. As per a recent Binance notice, a single user placed a hefty number of orders on its BTCUSD 0925 Quarterly Futures contract, generating an abrupt wick up to almost one hundred thousand USD.
The exchange mentions that the aforementioned wick did not lead to any liquidations on its future trading platform. Nevertheless, it may have affected those collecting values across several crypto bourses using a trading bot. At press time, BTC is changing hands at 11,378 USD with a single day gain of over two percent, as per coinmarketcap.
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