2025-12-27 03:21:36

In recent days, a bunch of financial media accounts have been reposting news about a "70% flash crash of Bitcoin," from major financial platforms to various crypto media outlets, with sensational headlines one after another. It’s enough to make people nervous—thinking something serious has really happened.

But when you actually dig into the details, you'll find that the whole story is not quite what it seems.

The truth is this: a leading exchange ran a promotion on a USD1 investment product, attracting many users to participate. A large trader wanted to join in the fun by exchanging USD1, and chose to "sell at market" on the BTC/USD1 trading pair. The problem is—this trading pair’s liquidity was already very thin, with very few orders. When the large order was placed, the entire order book was instantly penetrated, and the lowest transaction price was directly pushed down to around $24,000. At first glance, it indeed looked like a "70% crash."

However, the reality is that this was just a severe slippage event on a less-traded pair. At the same time, mainstream trading pairs like BTC/USDT remained stable as a rock, and Bitcoin itself showed no abnormal movements.

So the true face of this "storm" is: a large trader’s operation + a liquidity-poor trading pair + a price slippage incident. Yet, it was packaged as a "crypto market collapse."

Many editors probably don’t even understand what "slippage" means, and when they see strange candlestick movements, they just start writing—"Bitcoin crashes!"

BTC0,42%

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BasementAlchemist

· 23h ago

It's the same old trick again, do you really dare to write everything, editors? --- Trading pairs with poor liquidity also dare to make the news? This move is truly outrageous. --- Always like this, scaring retail investors is the only thing that makes you happy. --- Can't even tell the difference in slippage and still spreading alarmist rumors, haha. --- A single large order penetrating the order book turns into a crypto market crash, where is the media literacy? --- I abandoned the USD1 trading pair long ago; it's basically a liquidity black hole. --- Where were they when USDT was steady as a rock? Now they start spreading rumors. --- These clickbait headlines really should be banned; retail investors are all scared to death.

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BlockchainBard

· 23h ago

It's the same old story, I'm really convinced. Even obscure trading pairs' slippage can be exaggerated into doomsday theories. --- Media outlets really dare to write anything for traffic, they can't even tell the difference in slippage. --- Can a single large holder's operation cause a "crypto market crash"? Laughable, USDT is very stable. --- I'm too lazy to even click on these news articles; there's too much clickbait. --- USD1 liquidity is so poor but still being pumped in, serves them right. --- As expected, you have to look at the data yourself. The editors only know how to write sensational headlines. --- Flash crash of 70% haha, who would believe that? BTC didn't even move. --- The liquidity issue of this trading pair is being spun into a story of a sharp plunge. Has communication studies become unemployed? --- A large holder selling at market price can cause such a big stir, indicating how inactive this trading pair is.

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MeaninglessGwei

· 23h ago

It's the same old trick, marketing accounts blowing out slippage on obscure trading pairs as if it's the end of the world. --- The media really dares to write anything, not even understanding basic concepts. --- A big trader's order just breaks through in one go, and suddenly it's a "Bitcoin flash crash," hilarious. --- Don't put low-liquidity trading pairs on the hot list, misleading retail investors' little thoughts. --- This is ridiculous, blowing up the story of obscure trading pairs into a crypto market collapse, the editor really knows how to stir the pot. --- BTC/USDT remains completely steady, yet it's called a crash—this scripting level is a bit… --- Typical slippage packaged as news, seeing this kind of act too often. --- So the question is, why do some people still believe this kind of news?

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MidnightSeller

· 23h ago

It's the same story again. Every time, we have to wait for the details to know the truth. The media really survives on scaring people.

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