Bitcoin just spiked by $300 in one minute when a BitMEX went offline
Bitcoin's value surged this morning, rocketing from around $6,450 to almost $6,900 almost instantly. Prices peaked at $6,899 before easing back slightly. The move coincided with scheduled maintenance on BitMEX, a trading platform for Bitcoin and other cryptos which allows leveraged trades. The platform went down at 9 p.m. EST today — which was the exact moment that Bitcoin spiked.Multiple accounts on Twitter indicated the move appeared to be directly related to the BitMEX shutdown. The Twitter account for BitMEX stated multiple times that customers were having trouble logging in once maintenance was complete.The exchange then stated that the login problems had been rectified, and resumed trading at Tuesday evening EST.
About BitMEX: BitMex is a Peer-to-Peer Trading Platform that offers leveraged contracts that are bought and sold in Bitcoin. BitMEX offers perpetual contracts on bitcoin futures and swaps and also many different fixed-date expiries. The highest leverage BitMEX offers is up to 100x leverage.