An unknown entity sold over 400 BTC in a short period of time on the BitMEX BTC/USDT spot market; BitMEX began investigating the situation internally.
Cryptocurrency derivatives exchange BitMEX started investigating “unusual activity” after users reported a momentary fall in the Bitcoin (BTC) spot price on the platform.
At around 1 am UTC, users on X reported an anomaly in BitMEX’s BTC/Tether spot market that temporarily brought down Bitcoin prices to roughly $8,900.
Reportedly, an unknown entity sold over 400 BTC in a short period of time. BitMEX confirmed the large sell order on the BTC/USDT spot market and began investigating the situation internally.