- A BitMEX user has been involved in a massive sale of more than 400 Bitcoins.
- The massive sale resulted in a BTC flash crash on BitMEX, where it reached $8,900.
- BitMEX asserted that the exchange has initiated a probe into the matter and assured that the customer funds are safe.
According to recent reports, a BitMEX user sold more than 400 Bitcoins on the exchange, resulting in the fall of BTC price on BitMEX to a severe low of $8,900. In a recent X post, Chinese crypto journalist Colin Wu shared insights on the mysterious BTC sale and its aftereffects.
A user sold more than 400 BTC on the BitMEX exchange, causing the price of BTC in BitMEX to fall to $8,900, it has now returned to normal, according to @blckchaindaily. BitMEX responded that it is investigating unusual activity involving user selling large orders in the BTC-USDT…— Wu Blockchain (@WuBlockchain) March 19, 2024
The user could be called a “rogue seller” as they have been involved in a sudden, massive sale. Usually, a rogue seller is a person who is engaged in an unexpected sale of a large amount of assets without even being bothered about price impact. The BitMEX Bitcoin seller could be c…
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