As we reported on Monday, a Bitcoin Future Gap was threatening the price of Bitcoin and could have lowered it considerably. This gap has now been filled by a flash crash in the CME Bitcoin Futures and the danger seems to be banished. However, BTC futures prices recovered as quickly as they collapsed. It is suspected that this could be a manipulation. It would not be the first time …
Bitcoin Futures Flash Crash for less than $ 8,400 – Banned?
Let's start with the good news: the threat of a BTC futures spread to the WEC has been closed. A collapse in contract prices reduced the gap and pushed the price below $ 8,400. The speculations of many analysts have disappeared, which predicted that the price of Bitcoin would fill this gap and could thus fall to 8,600 USD.
Bitcoin Futures Flash Crash a manipulation?
Some initially suspected a technical loophole in CME, but large candles speak a different language and show that massive transactions were made during this period. However, if you look closely, you will discover inconsistencies. For example, the largest volume traded in the region was $ 9,000, and the Bitcoin Futures flash crash subsequently fell significantly. Lowwrife, the Twitter user, even speaks of a good example of manipulation.
I would like to emphasize what I would like to say about "market manipulation".
If you look at my original tweet. But that sounds like part of the movement. This is what we call painting the band. pic.twitter.com/Vn2SAa83XJ
– lowstrife (@lowstrife) November 5, 2019
The user Willy Woo is skeptical as to whether the Bitcoin Future flash crash is actually a "normal" gesture. Bitcoin Trading is in his opinion simply crazy, its volume is up to date and yet quite low.
BTCUSD in the short term is now. The gap on the CME is already filled. It's finely exchanged yes. But, man, I am very wary of price developments in all trades, more than usual. https://cryptomonday.de/?r=https%3A%2F%2Ft.co%2FM3Pf4Cmksq
– Willy Woo (@woonomic) November 5, 2019
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BTC course now before the outbreak? – The launching ramp is released
For some Twitter analysts, it does not matter whether it's a manipulation or the origin of the Bitcoin Futures flash crash. They are now optimistic and are releasing the launch pad of the BTC course for the next outbreak. Thus, the Twitter analyst Escobar is now optimistic: the way is free for BTC after the reduction of the gap.
$ BTC H4 TF
In the short term, thinking that we are falling, close the CMF deficit before continuing our upward momentum. Open a short short term. pic.twitter.com/GYKgQHLHSH
– ESCO₿AR (@TraderEscobar) November 3, 2019
Do you expect to make up the $ 8600 gap?
I think yes, the BTC tends to fill the gaps in the volume profiles and more particularly in the CMEs. We still have time to burn before takeoff of the BTC rocket, so a chance to do it as long as the price is being consolidated.
– Willy Woo (@woonomic) November 4, 2019
But it also shows once again how much the market is currently predictable, as Escobar and Willy Woo were surprised by the Bitcoin Futures flash crash and the narrowing of the price gap. In the end, it may just be the big players and the Bitcoin whales that move the market at will. Therefore, extreme caution is required in leveraging trading with BTC. Stay safe and enjoy the show.
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