In an industry that thrives on real-time information, even a momentary glitch can send ripples across the entire cryptocurrency ecosystem. That’s exactly what happened on June 6, when Bitcoin's price briefly appeared to drop from over $103,000 to $0 on the charting interface of the MEXC exchange, sparking widespread alarm and triggering panic across crypto social media.
Was this a system failure? A flash crash? A hack? Or something else?
Here’s a deep dive into what happened, how the industry reacted, and what it means for crypto traders going forward.
📉 The Shock Drop: Bitcoin Goes to $0?
At the time of the incident, Bitcoin was trading between $101,000 and $105,000, having recovered from a minor correction earlier that week. Suddenly, a glitch in MEXC’s TradingView interface showed Bitcoin collapsing 100% to $0, effectively erasing all of its value within seconds—at least on the chart.
This massive discrepancy wasn’t reflected on other exchanges like Binance, Coinbase, or Kraken. But for traders using MEXC’s platform—especially those with leveraged long positions—it was a shocking visual, and many feared their positions were being liquidated en masse.
🧵 Community Reaction: Panic, Accusations, and FUD
The crypto community wasted no time reacting. Prominent trader and influencer Crypto Beast, who has over 700,000 followers on X (formerly Twitter), posted a screenshot of the price plunge, warning that it may have caused mass liquidations on MEXC.
His post quickly went viral, prompting a flurry of posts accusing MEXC of mismanagement, price manipulation, and even fraud. Words like “scam,” “rug,” and “exit” began to trend in comment threads.
Given the history of exchange collapses in the crypto space, these types of glitches often trigger the worst fears—even when no real financial damage occurs.
🛠️ MEXC Responds: “Just a Display Bug”
In response to the public outcry, the MEXC Builders team issued a formal explanation via their official X account. Their post clarified the situation:
Bitcoin did not actually drop to $0 on the MEXC exchange.
The glitch was limited to the TradingView chart display, and no trades were executed at the erroneous price.
No user funds were affected, and there were no liquidations caused by the bug.
The team emphasized that the core trading engine and risk control systems were functioning normally throughout the incident. In other words, it was a front-end display error, not a backend execution issue.
🧩 Root Cause: TradingView Data Feed Issues
While MEXC clarified its side, TradingView, the third-party charting tool embedded into the exchange's interface, has yet to release a public statement about the glitch.
TradingView is a widely-used platform integrated into many crypto exchanges for real-time charting and technical analysis. These types of glitches typically result from brief inconsistencies in price feed aggregation or server-side rendering, rather than intentional manipulation.
In this case, it's likely that a corrupted or missing data packet caused the BTC price to render as zero on the chart, triggering a momentary visual shock to users.
📚 A History of Crypto Price Glitches
This isn’t the first time the crypto space has witnessed bizarre pricing glitches. Despite the sophistication of modern platforms, display errors still occur—sometimes on the biggest exchanges in the world.
🔺 Binance Glitch #1 – December 2023
On Binance’s futures trading interface, Bitcoin’s price spiked from $42,000 to $420,000 due to a similar TradingView display malfunction. This occurred for just a few seconds but was captured and widely shared by users.
🔻 Binance Glitch #2 – September 2023
Just three months prior, a bug on the same platform caused BTC to appear to crash from $21,700 to $2,707. Again, Binance confirmed it was a charting error that did not affect real trades or account balances.
💸 XRP Glitch on Kraken – June 2024
One of the most exaggerated examples occurred when XRP was briefly shown at $62,032 on Kraken—far above its actual market value. A few days earlier, a similar glitch had shown XRP at $9,864 on TradingView. These misreads are typically caused by incorrect candle data rendering or rogue API feed values.
💡 Lessons for Traders: Visual ≠ Actual
These incidents underscore a crucial point that many traders overlook:
> What you see on a chart isn’t always what’s happening in the market.
When glitches like this occur:
Verify actual trade executions and order book activity, not just candles or visual indicators.
Cross-check prices with multiple exchanges.
Look for official announcements from the exchange and TradingView.
Avoid panic selling or rushing to close positions during unexplained price swings.
While liquidations can occur during true flash crashes, display glitches—especially on TradingView are usually non-impactful from a trading execution perspective.
✅ Current Status: Price Normal, No Impact
As of this writing, Bitcoin has stabilized at around $104,800 on MEXC, which is in line with its valuation across other major platforms. The glitch appears to have lasted only a few seconds and did not result in any actual financial damage or executed trades at $0.
Still, the event has renewed conversations around platform reliability, data feed transparency, and the need for better user alerts when such anomalies occur.
🧭 Final Thoughts: Trust, But Verify
In the fast-paced world of crypto, where fortunes can be made or lost in minutes, data integrity is everything. Even a visual bug can erode trust if not quickly addressed with transparency and technical clarity.
MEXC’s response helped cool the panic, but this event serves as a timely reminder to every trader:
Stay informed.
Use multiple tools.
And never assume that what you see on one chart is the whole picture.
Glitches may be inevitable—but how you respond to them can protect your portfolio and peace of mind.
📌 Have you ever experienced a charting glitch or liquidation scare? Share your story in the comments. Let’s talk risk, tools, and how to stay ahead.
