Bitcoin’s Apparent Crash to $24K Was a Localized Event
- A viral social media post claimed Bitcoin crashed to $24,000 on Christmas.
- The event was a localized “flash crash” on a single illiquid trading pair (BTC/USD1) on Binance.
- The crash was not widespread and did not affect other trading pairs or exchanges.
During the Christmas holiday, a viral post suggested that Bitcoin had plummeted to $24,000, causing concern among traders and investors. However, this was due to a localized “flash crash” affecting only one illiquid trading pair on Binance.
This incident highlights the potential for sudden price movements in illiquid markets but did not reflect Bitcoin’s broader market value at the time. (Source)
