Exchange Investigates Flash Crash That Sent Bitcoin to $8,900
- Bitcoin fell as low as $8,900 against USDT on BitMEX on Monday
- BitMEX says it found evidence of ‘aggressive selling behavior’
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Crypto exchange BitMEX said it is investigating unusual trading activity, including possible misconduct, that led to a flash crash in Bitcoin on its platform yesterday.
The price of Bitcoin against Tether’s USDT stablecoin fell to as low as $8,900 on BitMEX late Monday, while the largest cryptocurrency was trading above $66,000 on rival venues. The price of Bitcoin on the exchange quickly recovered and has been trading in-line with the rest of the market since.