Bitcoin drew fresh attention after social media posts highlighted unusual price signals, including a brief plunge in the Binance BTC USD1 pair and a widening gap versus stock and gold models. Shanaka Anslem Perera said a widely shared screenshot claiming Bitcoin fell to $24,000 on Christmas reflected a short-lived wick on Binance’s BTC USD1 pair, not a market-wide crash. In a post on X, Perera noted the BTC USD1 wick dropped about 72% for roughly three seconds, while BTC USDT did not trade below $86,400, and he linked the volatility to a Binance promotion offering 20% APY on USD1 deposits about 24 hours earlier. Perera added that a large market sell then hit a thin book, pushing the price down to the nearest bids, around $24,111, before prices normalized.
Bitcoin traded near $87,500 on Friday, sitting well below levels implied by its historic correlation with U.S. stocks and gold, according to PlanB. In a post on X, PlanB said model comparisons place Bitcoin closer to $6,900 when aligned with equities and around $4,500 when aligned with gold. He described the gap as unusually wide, noting that the current price appears ‘way off’ past relationships shown in long term regression charts.
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