Bitcoin price on Binance briefly jumped to $82,000

On the morning of November 17, the price of the leading cryptocurrency on the Binance exchange jumped 390% in an instant to $82,000. reports Decrypt.

The price of Bitcoin in the BTC/TUSD pair rose from $16,626 to $82,000, before retreating to $16,635.

BTC/TUSD trading pair on Binance. Source: Binance.

In BTC-dollar and BTC-stablecoin pairs with USDC, BUSD, DAI, PAX and USDT, there was no sharp price movement.

At the moment of the price spike, trading volume in the BTC/TUSD pair on a one-minute interval reached 28 BTC.

Given the relatively low trading volume during that period, the price spike was likely the result of an error.

Likely, an unknown trader bought bitcoins at that price, either deliberately or by mistake.

“It would take a tremendous amount of money moving through the market to reach this price naturally, which would essentially drain the liquidity of the trading pair,” the publication writes.

Update: Exchange representatives told ForkLog that the price spike was connected to the creation of a market order on an illiquid pair.

Similar price spikes have occurred on Binance before. On October 28, in the ETH/USD perpetual contract chart, the so-called Darth Maul candle appeared, which activated trades at certain prices without passing through the standard order-sourcing procedures. The Ethereum price briefly rose from $386 to $571, then fell to $197.

Darth Maul candle. Source: Binance

In August, the price of the bitcoin quarterly futures surged by 800% to $99,000.

Earlier ForkLog reported that on November 18 an unknown user executed a transaction of 0.01088549 BTC, for which a fee of 2.66038352 BTC (more than $47,000 at the time) was paid.

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