ChainCatcher reports that according to market sources, at 5 PM on Wednesday, the Bitcoin price in Binance’s BTC/USD1 trading pair briefly flashed down to $24,111 before quickly recovering to above $87,000.
The anomaly occurred only on the new stablecoin USD1 trading pair supported by World Liberty Financial, with other BTC trading pairs unaffected and overall market prices remaining stable. Analysis indicates that such ‘flash crashes’ are typically related to insufficient liquidity, especially in newly launched or low-volume stablecoin trading pairs. Due to limited order book depth, a single large sell order or automated trading can cause sharp, momentary price fluctuations. Previously, it was reported that the Binance BTC/USD1 trading pair experienced an instantaneous spike down to $24,111 yesterday, with prices quickly correcting.
