While the uptrend in Bitcoin, which started yesterday evening, contributed 7% to the price, there was an interesting price movement in Binance US, the US arm of Binance.
While Bitcoin hit $29,000 on other exchanges, the price abruptly surged to $138070 on Binance US. After a momentary price movement, the price fell back to $29,000 levels.
At the moment of the said movement, we see that a volume of 62 BTC was created in Binance US. Considering that the volume of 62 BTC is quite low, two reasons come to the fore in this situation.
It is considered that the price movement in question was caused by the lack of liquidity in Binance US and such an error may have occurred because the board was empty. Because after the SEC sued Binance, many market makers withdrew their liquidity from Binance US.
In another possibility, considering that the error in question does not appear in data providers such as Tradingview, but only in the interface in Binance US, it is considered that this data may have been caused by a technical error in the trading engine.
There is no official statement yet from Binance or Binance US on the subject.
