Binance futures market malfunctions, BTC price surpasses $400,000

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Binance Futures Market Glitch Causes BTC Price to Surge Over $400,000

On the afternoon of the 28th, the price of BTC/USDT perpetual contract market on Binance surged to over $400,000 at one point.

This is not the first time such an incident has occurred on Binance this year.

Remember before some major moves we have a “glitch” on exchanges?) Today Binance btc/usdt perp give us a sign? $btc pic.twitter.com/D5xb2k5X9Z

— Bitcoin Life ✴️ (@Cryptosaround) December 29, 2023

Binance: Candlestick Display Issue

Binance subsequently stated that this was a display issue and that all trading was not affected. The issue was resolved within approximately half an hour.

The display issue on USDT-Margined BTC/USDT Futures has now been resolved.

You will now be able to view the chart with no visual errors.

Thank you for your patience and we apologise for any inconvenience caused.

— Binance (@binance) December 29, 2023

Display Issue on Binance in September as Well

Similarly, the BTC/USDT perpetual contract market on Binance experienced abnormal price spikes on the afternoon of September 29th, with prices plummeting multiple times to around $2,706, which is only 1/10 of the normal price.

Zhao Changpeng CZ stated at the time that this was a display issue with the user interface candlestick chart and that there were no anomalies in the candlestick data via the API, thus not affecting trading.

Binance Bitcoin Perpetual Contract Experiences Wild Price Spikes! Plunges Multiple Times to $2,706, CZ: Just a Display Issue