Bitcoin Cash (BCH) falls 20% as Mt. Gox announces creditor repayments, highlighting poor liquidity on centralized exchanges.
Bitcoin cash (BCH) experienced its largest drop in three months, falling 20% last week due to Mt. Gox announcing creditor repayments. The sell-off was amplified by poor liquidity across centralized exchanges, as well as panic selling by BCH holders anticipating mass liquidations by Mt. Gox creditors. Slippage, which is the difference between the expected and actual price of a trade, surged across BCH markets listed on Bybit and Itbit, indicating worsening liquidity due to insufficient order book depth for large market orders. The poor liquidity issue has been ongoing since the bankruptcy of market makers FTX and Alameda Research in November 2022.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US stocks, cryptocurrencies erase early gains as tariff negotiation optimism wavers
Investors continue to digest the Trump administration’s mixed messages on tariff policies
Fartcoin Surges in Value While Market Faces Setbacks
In Brief Fartcoin has increased by nearly 30% in the last 24 hours. Growing confidence among users as exchange reserves decline. Technical indicators predict a potential price target of $0.75.
What a 1% Fed Rate Cut Could Mean for Crypto if Trump’s Tariff Triggers The Simpsons Prediction
Spanish police arrest six over $20M AI scam
Trending news
MoreCrypto prices
More
