Bitcoin Price Wreaks Havoc with Crash to $0, What’s Happening?
The crypto community was taken by storm as the Bitcoin price suddenly crashed to $0. Amid the crypto market crash, analysts were expecting BTC to continue consolidating. However, a 100% nosedive was obviously not expected.
What’s exactly happening? Well, there’s no need to worry as Bitcoin price plunged to zero only on the MEXC crypto exchange. The BTC/USDT pair on MEXC plunged to $0 in a fraction of seconds with around 415 BTC traded in an hour prior to that.
Nonetheless, the Bitcoin price remains unaffected on other exchanges and crypto market data aggregator platforms. Initially, the incident seems to be originating from a glitch on MEXC.
However, MEXC has denied such claims. In post on X, they wrote:
“We have recently become aware of some posts circulating on certain accounts claiming that MEXC’s $BTC candlewick dropped to 0. We would like to clarify that this was simply a display error on the TradingView platform on June 5, and there was no such issue on MEXC’s official website, where everything has been functioning normally.”
Meanwhile, BTC price is holding steady above the $100,000 psychological level, which is acting as a major support. Thus, analysts have pointed toward a rebound to the $106,000 level soon. According to CoinMarketCap data, at press time, Bitcoin traded at $103,918.53 on Friday, June 6.
Bitcoin price now seems to be rebounding from the lows below $101,000 after Elon Musk and U.S. President Donald Trump engaged in a feud over the ‘Big Beautiful Bill’. Whilst, the concerns of rising U.S. debt has also weighed on the market with millions of long and short liquidations taking place.
Also Read: Bitcoin Price Prediction: BB bands indicate $106K Breakout or $90K Dip