In the latest bitcoin news, the price of the first cryptocurrency by market cap has seen some short-term gains. However, traders on the Binance crypto exchange were shocked when the price of btc suddenly dropped.
At the time of writing this bitcoin news, the price of the cryptocurrency is trading above $27,000 for the first time in weeks. btc recorded a 2% gain in the last 24 hours and seven days, while ethereum price leads the nascent bullish momentum.
According to crypto report Colin Wu, the price of bitcoin plummeted in the trading center from its current levels to as low as $2,700. As seen in the following graph, and unlike previous occasions, the accident occurred on different occasions.
<img decoding="async" class="wp-image-553529 size-large" src="https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-Chart-2.jpeg?w=860&resize=860%2C686″ alt=”bitcoin News btc BTCUSDT btc Price Chart 2″ width=”860″ height=”686″ srcset=”https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-Chart-2.jpeg?w=1469 1469w, https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-Chart-2.jpeg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-Chart-2.jpeg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-Chart-2.jpeg?w=860&resize=860%2C686 860w, https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-Chart-2.jpeg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-Chart-2.jpeg?w=1140 1140w” sizes=”(max-width: 860px) 100vw, 860px” loading=”lazy” data-recalc-dims=”1″/>btc price on Binance is rising due to display issues. Fountain: Colin Wu in X
The incident was recorded at 16:17 UTC+8 on the crypto exchange’s perpetual futures platform. One of the most popular trading instruments on the crypto exchange, its CEO Changpeng “CZ” Zhao responded to the incident.
Root cause identified, some new code caused it. Need to reverse and correct data. The engineers say it will take 1 hour to fix it. So, wait about 2 hours.
In a previous tweet, CZ clarified that an issue with the trading pair display caused the issue. The user interface was not affected, as were the APIs connected to the platform.
Therefore, fortunately for the platform’s traders, the incident did not trigger any stop losses or margin calls for btc/USDT futures positions.
On the other hand, despite this bitcoin news, btc price appears to be stabilizing around $27,000 and could potentially flip this level as support, allowing for bullish continuation. A pseudonymous crypto analyst claims that the cryptocurrency remains below the 20-day moving average and the 21-day exponential moving average.
<img decoding="async" loading="lazy" class="wp-image-553528 size-large" src="https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-3-chart.jpeg?w=860&resize=860%2C519″ alt=”bitcoin News btc BTCUSDT btc Price Chart 3″ width=”860″ height=”519″ srcset=”https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-3-chart.jpeg?w=1274 1274w, https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-3-chart.jpeg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-3-chart.jpeg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-3-chart.jpeg?w=860&resize=860%2C519 860w, https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-3-chart.jpeg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/09/bitcoin-news-btc-BTCUSDT-btc-Price-3-chart.jpeg?w=1140 1140w” sizes=”(max-width: 860px) 100vw, 860px” data-recalc-dims=”1″/>The price of btc is trading below two critical levels, but with the possibility of recovering them. Fountain: DaanCrypto on X
If the cryptocurrency can reclaim this territory, then the bulls could have a chance to return above $30,000. Looking at possible clues that could indicate higher profits, the analyst saying:
bitcoin‘s open interest dropped a lot while the price remained stable. I said it yesterday, but I’ll say it again: it looks much healthier than any previous landfill. This doesn’t mean this can’t happen, obviously. It makes it less likely to see these volatile movements up and down.
Cover image from Unsplash, DaanCrypto charts on X and Tradingview
