June 21 (Cointime) - According to exchange data, Bitcoin experienced a sudden surge to $138,000 on Binance.US before quickly returning to normal levels. This surge was likely due to low liquidity for Bitcoin against Tether on the exchange, as market depth data shows a smaller buy can have a larger impact on prices. Binance.US's market depth has decreased by 76% compared to May, indicating a decrease in market makers and traders on the exchange. The surge was not caused by a trader willing to pay a 450% premium for Bitcoin, as it currently trades for just over $29,000 in European morning hours.
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Bitcoin Surges to $138,000 on Binance.US in Temporary Price Spike
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