In a wild moment that sent shockwaves across the crypto community, Bitcoin briefly showed a jaw-dropping 100% drop ā all the way to $0 ā on the MEXC exchange.
But what really happened? Letās break it down. š
ā ļø The Shocking Drop to $0
Bitcoin was trading smoothly between $101,000 and $105,000 after recovering from a recent dip. Then out of nowhere ā BOOM š„ ā on MEXC, TradingView charts showed $BTC crashing to zero.
Veteran trader Crypto Beast quickly flagged the issue to his 700K+ X (Twitter) followers, claiming the glitch triggered a liquidation storm for long positions.
The charts looked scary. But was it real? š¤
š MEXC Responds: "Just a TradingView Glitch"
MEXCās developer team, MEXC Builders, quickly stepped in with a public post on X to clear the air.
> āBitcoin did not drop to $0 on our platform. No long positions were liquidated due to this event,ā they stated.
So what went wrong?
Turns out, it was a TradingView visual bug ā nothing more. And within seconds, Bitcoinās price was back to normal: $104,856 ā same as other major exchanges.
š§ Context: This Isnāt the First Time...
This isnāt new. Price glitches have happened even on top-tier exchanges like Binance.
š In Dec 2023, Bitcoinās futures price on Binance spiked from $42,000 to $420,000 ā a visual bug, not a real trade.
š Just 3 months earlier, BTC fell from $21,700 to $2,707 in another glitch.
Even XRP saw a spike to $62,032 on Kraken in June 2024 after TradingView earlier showed it at $9,864.
None of these events impacted actual trades ā but they sure caused panic.
š Key Takeaway
Before jumping to conclusions, always verify the source of the data. Sometimes, itās not the market ā itās the screen youāre watching it on. š»
If you're trading based on visuals alone, you're not investing ā you're gambling.
š¬ What do you think? Should exchanges improve UI error handling or is this just part of the game?
Letās talk below. š