Bitcoin Flash Crash Triggers Investigation Amid Price Drop

Bitcoin experienced a sudden flash crash on BitMEX, plummeting to as low as $8,900, while remaining steady at around $67,400 on other exchanges. Speculation suggests a large sell order may have triggered the crash, prompting BitMEX to investigate potential misconduct by traders on its Bitcoin-USDT Spot market. The exchange temporarily blocked withdrawals for certain accounts involved in the investigation. Despite BitMEX's assurances that the incident had no impact on the spot and derivatives markets, Bitcoin's current trading price of $63,000 reflects a 7% slump in the last 24 hours, indicating a potential ripple effect in the cryptocurrency market.