Crypto Whale Dumps 6,500 Bitcoin, Triggers Flash Crash on Binance

A Bitcoin whale triggered a flash crash in the price of Bitcoin on the leading crypto exchange Binance.

The founder of Nugget’s News, Alex Saunders, tracked the big sell order of 6,500 BTC at $12,100 in real time on Twitter. The order, worth about $78.6 million, was quickly eaten away by bullish traders buying the dip.

A whale just dumped 6500 $BTC on @binance at $12100. The order is been eaten away at. Only 3500 left. People buying the dip. #Bitcoin https://t.co/9PzK3Hx39c

— Alex Saunders (@AlexSaundersAU) July 9, 2019

In moments, the order dropped the price of BTC on Binance from just over $12,600 to around $12,100. The price quickly recovered and is now at $12,510 at time of writing.

The whale’s impact can also be seen on the crypto price tracker CoinMarketCap, which compiles the price of Bitcoin using an average of the price of BTC on Binance and other exchanges.

Bitcoin is up 5.32% in the last 24 hours, according to CMC. The coin’s dominance of the overall crypto market cap now stands at 64.19% – a new high for 2019.

Follow us on Facebook            Join us on Telegram            Follow us on Twitter

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.