WhaleStreet Newsletter

By CryptoWhale

Bitcoin Mysteriously Flash-Crashes Below $10,000 on 26+ exchanges

#49・ Oct 21, 2021

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CryptoWhale

@cryptowhale

Earlier this morning, many were shocked to find a massive red candle wick on the Bitcoin to US dollar charts. Around 3 dozen exchanges have seen a flash-crash ranging from $8400 to as low as under $4000.

Mr. Whale

@CryptoWhale

BREAKING: #Bitcoin U.S dollar pair mysteriously flash crashes over -88%, below $10,000 in single wick on #Binance exchange, thousands now liquidated. https://t.co/zuCJXRxihL

8:25 AM - 21 Oct 2021

This mysterious flash-crash happened just after Bitcoin surged to all-time highs following the Bitcoin Futures ETF launch, which created some hype.

The ETF Futures Launch has been a concern to many, especially considering Bitcoin topped out the exact week Wall Street launched futures in 2017. It’s largely known as a tool by them to manipulate prices, similar to what they actively do with Gold, Silver, and other assets.

Some notable crypto exchanges that were affected include Binance, Binance US, Kraken, FTX, and Coinbase. Thousands of users online have reported massive liquidations and stop-loss triggers.

Mr. Whale

@CryptoWhale

Starting Tuesday, every single Binance user must be KYC verified to trade on the exchange.

In light of this policy, all Tether on the exchange (6.3 billion) has been mysteriously transferred off.

Think about how sketchy this sounds. #Tether #Binance https://t.co/zBP4lbxOqg

8:40 AM - 18 Oct 2021

What’s even more suspicious is that this comes right after regulators forced Binance to require every user on the exchange to be KYC verified to trade. Right before this policy came into effect, they mysteriously transferred all Tether (6.3 billion) off the exchange to an unknown wallet.

Since this story is being ignored by many maximalists and crypto blogs, I’ll be closely following this story, and posting any updates on Twitter.

Stay tuned! Thanks for reading!

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