Manipulation? CME Bitcoin Futures Flash Crash to Fill $8.5K ‘Gap’
William Suberg's original article for cointelegraph.com reduced by 57%
Bitcoin trading is coming under the spotlight this week after another flash crash sparked concerns that traders are manipulating markets. As various social media users noted, including statistician Willy Woo on Nov. 5, unusual occurrences on exchanges give reason to be critical of Bitcoin price movements.
Woo: I'm "Highly suspicious" of BTC/USD. As Cointelegraph reported, last week saw sudden erratic behavior at two exchanges - Deribit and Coinbase Pro - which appeared to influence BTC/USD. On Tuesday, it was CME Group's Bitcoin futures which continued the trend.
In early trading, BTC/USD futures suddenly tanked to below $8,500 before rebounding to $9,300. That lower level previously formed a gap in futures trading - when one session begins higher than where the last ended. "I cannot believe how crazy trading BTCUSD on the short term is right now.
The gap on the CME has filled already. It's thinly traded yes. But man, I'm highly suspicious of the price action across all the exchanges of late, more so than usual," Woo summarized.
Cointelegraph contributor filbfilb reacted similarly, noting the unusual nature of the price filling at CME. "Don't know what happened there!" he told subscribers of his dedicated Telegram trading channel on Tuesday.
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CN [too long; didn’t read]
Summarised crypto news.