The weekend crash under the microscope

Bitcoin experienced its sixth-worst weekend since 2017, just a couple of days before the third halving. The price of bitcoin dropped by 14.45%, from $9,480 to $8,110, within only 9 minutes.

The chart below shows the price comparison of four of the most liquid pairs (Bitfinex, Coinbase, Bitstamp, Kraken) in 5-second intervals. The prices were moving nearly identically during the crash but then started diverging towards the end and then right after. The price on Bitfinex appeared to be leading the fall, which could indicate that Bitfinex traders played a big part.