Bitcoin briefly traded at $24,111 on the BTC/USD1 trading pair on Binance on Tuesday night before rising back above $87,000 within seconds, according to exchange data.
The move does not appear on any other major BTC pairs and does not appear to be related to the USD1 stablecoin launched by Trump family-backed World Liberty Financial. The pair subsequently returned to normal, with Bitcoin trading back around current market prices.
These sudden “wicks” are usually caused by thin liquidity or possible display issues, rather than a broader crash. New or lightly traded stablecoin pairs typically have few market makers quoting tight prices, meaning order books can be thin.
A single large market sell, liquidation, or automated trading through the pair can quickly sweep away buying orders, forcing prices well below true market levels until buy orders reappear.
The confusion could also be caused by temporary pricing issues related to widening spreads, market maker misquotes, or trading bots reacting to unusual prints.
This effect may be amplified during quieter periods, as there are fewer participants actively absorbing order flow and restoring price parity.
While wicks may look dramatic on charts, traders often view these traces as microstructural events rather than signals of Bitcoin’s underlying direction.
Still, it highlights the risks of executing with sparse currency pairs, especially when stablecoins or trading routes are still building liquidity.
