Bitcoin just spiked by $300 in one minute when a big trading platform went offline

next generation launch system rocket eelv orbital atk
next generation launch system rocket eelv orbital atk

Orbital ATK

  • Bitcoin prices jumped by as much as 7% almost instantly at around 9 p.m. EST.

  • The move coincided directly with a scheduled shutdown of trading platform BitMEX for maintenance purposes.

  • Prices have subsequently eased back slightly after almost reaching $7,000.


 

Bitcoin’s value surged this morning, rocketing from around $6,450 to almost $6,900 almost instantly.

Prices peaked at $6,899 before easing back slightly:

bitcoin chart
bitcoin chart

Markets Insider

The move coincided with scheduled maintenance on BitMEX, a trading platform for Bitcoin and other cryptos which allows leveraged trades.

The platform went down at 9 p.m. EST today — which was the exact moment that Bitcoin spiked.

Multiple accounts on Twitter indicated the move appeared to be directly related to the BitMEX shutdown.

Tweet Embed:
//twitter.com/mims/statuses/1032070700851445760?ref_src=twsrc%5Etfw
This is why I rather not be in a position when BitMEx goes down pic.twitter.com/DKBceZi6n4

The Twitter account for BitMEX stated multiple times that customers were having trouble logging in once maintenance was complete.

The exchange then stated that the login problems had been rectified, and resumed trading at Tuesday evening EST.

Tweet Embed:
//twitter.com/mims/statuses/1032083055417204736?ref_src=twsrc%5Etfw
Login has stabilized. We encountered a large DDoS upon restarting web services. We will resume trading at 02:00 UTC (in 7 minutes).

This is a developing story. 

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