RATE Group | Manipulation? CME Bitcoin Futures Flash Crash to Fill $8.5K ‘Gap’
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Manipulation? CME Bitcoin Futures Flash Crash to Fill $8.5K ‘Gap’

09 Nov Manipulation? CME Bitcoin Futures Flash Crash to Fill $8.5K ‘Gap’

Posted at 09:45h in Bitcoin News by

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Bitcoin (BTC) 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.

CME Bitcoin futures daily chart

CME Bitcoin futures daily chart. Source: TradingView

That lower level previously formed a gap in futures trading — when one session begins higher than where the last ended. Analysts note that Bitcoin often seeks to “fill” those gaps, but in this case, it did so with minimal resources.

“I cannot believe how…

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