2025-12-25XQuote

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This actually shows the exchange is NOT involved in trades. Low liquidity on new pairs means one large market order can spike prices, but arbitrageurs quickly corrected it. No liquidations occurred, as this pair isn't included in any index. 🤷‍♂️

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No, BTC didn’t “crash” to 24k on Binance. This was a liquidity event. Binance and USD1 launched a 20% fixed APY deposit promo yesterday. Ref: https://t.co/u0BIMHwECZ 1️⃣ Many users swapped USDT → USD1, pushing USD1 to a 0.39% premium: huge for a stablecoin. 2️⃣ Smart money borrowed USD1 on @lista_dao against SolvBTC or SolvBTC-BTCB smart lending markets (~0.5% APY). They either deposited USD1 directly or sold it slowly on spot to meet demand. 3️⃣ Then someone thought: “Why not just sell via BTC/USD1?” They used a market order. Problem: BTC/USD1 has very thin liquidity. That market order wiped out most buy orders, briefly causing a very low price. Arbitrage bots instantly bought it back. No fundamentals changed. No mass liquidations. Whoever bought BTC at ~$24k — merry Christmas. P.S. This is just a small episode during bear market. We’ll for sure see many more of these. Bookmark this — it’ll be useful when the next “crash” happens.
catwychan ↗