BTC-e flash crash 8/18

[Frankie]

It nearly (or did) touch $300 before arbitrage bots started kicking in. Still much lower, but the disparity is disappearing.

What was that about? BTC-e problem, or just some retarded selling?

[iluvbitcoins]

someone massive dumped?

[GreekBitcoin]

i think it was the latter

[dserrano5]

I don't think it was the usual fat finger big sell. There was downwards momentum for 7 minutes.

[Cortex7]

Yes I'm guessing: someone dumped multiple piles on BTCE starting at 13:36 my time (11:36 UTC), only a relatively small dump, but stinky nonetheless, causing 25% drop as the orders buried into the book!

Whoever did that could have got more fiat by dribbling in over multiple exchanges.

Here's how it went down...

All charts have same time periods:
Going Down (over 9 minutes)
Going Up (over 14 minutes)

BTCE:







Other exchanges only got dented, probably by arbitrage against BTCE:

BITSTAMP:





BTC CHINA:

[TheButterZone]

Morons.