The price of Bitcoin (BTC) nosedived roughly 7% in just one hour, falling from $29,850 to $27,789, which media outlets reported was due to blockchain analytics firm Arkham Intelligence incorrectly sending out an alert that wallets linked to Mt. Gox and the U.S. government had begun shifting large sums of Bitcoin.
Arkham initially tweeted to confirm the alleged mistake had occurred as a result of “bug fix” which sent out a false alert on their analytics platform to a “small subset of users.” However, one hour later Arkham published a follow-up tweet claiming that it had “conducted an investigation of the DB Alert situation, and determined that the Arkham alerts were sent accurately in this case.”
“Neither the alert nor the tweet could have caused the sharp BTC price drop today,” wrote Arkham, highlighting that the drop occurred between 19:17 and 20:01 UTC, and the alerts and subsequent tweet were sent afterward at 20:07 UTC and 20:08 UTC.
All Comments