Bitcoin briefly trades at $24,000 on Binance’s USD1 pair in flash move

• Bitcoin briefly dropped to $24,111 on Binance's BTC/USD1 pair before quickly rebounding above $87,000.
• The price fluctuation was isolated to a stablecoin pair backed by World Liberty Financial and did not affect other major BTC pairs.
• Such sudden price changes are often due to thin liquidity and can be exacerbated by fewer active traders during quieter hours.

Bitcoin briefly displayed $24,111 on Binance in a sharp wick on the BTC/USD1 trading pair late Wednesday before snapping back above $87,000 within seconds, according to exchange data.

The move did not show up on any other major BTC pairs and appeared isolated to USD1, a stablecoin launched by Trump family-backed World Liberty Financial. The pair later normalized, with bitcoin trading back near prevailing market prices.
These sudden “wicks” are typically caused by thin liquidity - or a possible display issue - rather than a broader crash. New or less-traded stablecoin pairs often have fewer market makers quoting tight prices, meaning the order book can be shallow.

A single large market sell, a liquidation, or an automated trade routed through the pair can sweep bids quickly, forcing the price to print far below the true market level until buy orders reappear.
Such dislocations can also be triggered by temporary pricing issues tied to spread widening, faulty quotes from a market maker, or trading bots reacting to abnormal prints.

During quieter hours, the effect can be amplified because fewer participants are active to absorb the order flow and restore price parity.
While the wick may look dramatic on a chart, traders generally treat these prints as a microstructure event rather than a signal of bitcoin’s underlying direction.

Still, it highlights the risks of using thin pairs for execution, especially when stablecoins or trading routes are still building liquidity.

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• Bitcoin and ether spot ETFs experienced significant outflows on Dec. 24, with traders reducing risk ahead of the Christmas break.
• BlackRock's IBIT and Grayscale's GBTC led the bitcoin ETF outflows, while Grayscale's ETHE saw the largest outflow among ether ETFs.
• Despite the outflows, Grayscale's Ethereum Mini Trust ETF recorded a notable inflow, highlighting varied investor strategies during low liquidity periods.

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