#BigTechStablecoin #TrumpVsMusk The value of Bitcoin dropped by 100% from $103,000 to $0 on the MEXC exchange: Here's what happened ๐๐
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The value of Bitcoin dropped by 100% from $103,000 to $0 on MEXC: Here's what happened
Date: June 7, 2025
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A TradingView glitch caused the value of Bitcoin to drop by 100% to $0 on the MEXC cryptocurrency exchange, sparking a stir within the crypto community.
The price of Bitcoin ranged between $101,000 and $105,000 in the open market yesterday, recovering from a surge the day before. However, market data confirms a sudden drop of 100% to $0 on the MEXC cryptocurrency platform in Seychelles.
This development spread on crypto Twitter, with market participants reacting to the price glitch. Crypto Best, an experienced trader, drew the attention of his over 700,000 followers and the wider community to the sharp drop in a post on Friday.
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In his post, he claimed that the glitch, which lasted only a few seconds, triggered a wave of liquidations. According to him, all long positions were liquidated on the MEXC exchange.
Bitcoin's price dropped to $0 on the MEXC exchange
Just a glitch on TradingView: MEXC
It is noteworthy that speculation, as a result, turned into widespread criticism of the MEXC exchange, with accusations of fraud and scamming. However, a reaction followed to clarify matters.
In a related context, the MEXC Builders trading platform team based in Seychelles resorted to X to respond to the derogatory claims. A post on June 6 clarified that the price of Bitcoin did not drop to $0 on its platform, and long positions did not incur any losses due to this event.
However, the candle wick trading online at the $0 level represents a glitch in TradingView. This means it was merely a display error on the popular trading platform and did not reflect the price of Bitcoin on MEXC.
Meanwhile, developers revealed that TradingView has fixed the display glitch. They are also in contact with the platform's technical team to address the issue at its roots and prevent its recurrence in the future.
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As of the time of writing this report, TradingView has not responded to these claims. Additionally, the price of Bitcoin stabilized on TradingView on the MEXC exchange, trading at its usual price of $104,856, along with other exchanges.
Similar errors in cryptocurrency prices
It is noteworthy that even the most advanced trading platforms have occasionally experienced glitches in asset prices. A similar incident occurred several times on Binance, the largest cryptocurrency trading platform by trading volume, in 2023.
To clarify the picture, the price of Bitcoin dropped from $42,000 to $420,000 in the Binance futures market in December 2023. It is worth noting that this occurred just three months after another display glitch, where the price of Bitcoin dropped by 90% from $21,700 to $2,707.
Binance confirmed in both cases that it was merely a visual display error and had no impact on trading activities.
Furthermore, XRP also experienced several price glitches, both on TradingView and on other trading platforms. For example, the token was traded at a price of $62,032 on Kraken in June 2024, following a display error after reaching $9,864 on TradingView just a few days earlier.
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