Bitcoin briefly trades at $24,000 on Binance’s USD1 pair in flash move

Bitcoin briefly trades at $24,000 on Binance’s USD1 pair in flash move Such sudden price changes are often due to thin liquidity and can be exacerbated by fewer active traders during quieter hours. What to know: Bitcoin briefly dropped to $24,111 on Binance's BTC/USD1 pair before quickly rebounding above $87,000. The price fluctuation was isolated to a stablecoin pair backed by World Liberty Financial and did not affect other major BTC pairs. Such sudden price changes are often due to thin liquidity and can be exacerbated by fewer active traders during quieter hours. Bitcoin briefly displayed $24,111 on Binance in a sharp wick on the BTC/USD1 trading pair late Tuesday before snapping back above $87,000 within seconds, according to exchange data. (Binance) See all newsletters The move did not show up on any other major BTC pairs and appeared isolated to USD1, a stablecoin launched by Trump family-backed World Liberty Financial. The pair later normalized, with bitcoin trading back near prevailing market prices. These sudden “wicks” are typically caused by thin liquidity - or a possible display issue - rather than a broader crash. New or less-traded stablecoin pairs often have fewer market makers quoting tight prices, meaning the order book can be shallow. A single large market sell, a liquidation, or an automated trade routed through the pair can sweep bids quickly, forcing the price to print far below the true market level until buy orders reappear. Such dislocations can also be triggered by temporary pricing issues tied to spread widening, faulty quotes from a market maker, or trading bots reacting to abnormal prints. During quieter hours, the effect can be amplified because fewer participants are active to absorb the order flow and restore price parity. While the wick may look dramatic on a chart, traders generally treat these prints as a microstructure event rather than a signal of bitcoin’s underlying direction. Still, it highlights the risks of using thin pairs for execution, especially when stablecoins or trading routes are still building liquidity. More For You State of the Blockchain 2025 L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below. What to know: 2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns. This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026. More For You Filecoin drops 2% as crypto markets weaken Technical factors dominated as FIL maintained a tight correlation with broader crypto sentiment while establishing support above $1.27. What to know: FIL slipped 2% in early trading hours on Wednesday. Trading volume rose 7% above weekly average on moderate activity. Price consolidated...

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