Christmas "miracle": BTC collapsed from $88,000 to $24,000 in the BTC/USD1 pair
On the Binance exchange, there was a brief crash of the Bitcoin rate in the BTC/USD1 pair to $24 111. Meanwhile, BTC quotes in the USDT pair remained stable at the level of $87 000–$88 000.
The incident was caused by low liquidity of the USD1 pair. This is a stablecoin issued by World Liberty Financial, a company associated with the family of the 47th US President Donald Trump, which receives about 60–75% of the profits from the project. The coin is positioned as a tool to strengthen the dollar's dominance in digital assets. Donald Trump actively positioned himself as a "crypto-president" during the 2024 election campaign: promising to make the US the "crypto capital of the world," create a strategic Bitcoin reserve, fire SEC head Gary Gensler, remove regulatory restrictions, and generally support the industry. This caused huge hype — after his victory in November 2024, Bitcoin soared from $70,000 to $126,000 in early 2025. However, then the rate fell all year ( and some altcoins collapsed several times ), and while gold, silver, and other assets set record after record, the crypto market, it seems, has entered a stage of crypto winter.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Christmas "miracle": BTC collapsed from $88,000 to $24,000 in the BTC/USD1 pair
On the Binance exchange, there was a brief crash of the Bitcoin rate in the BTC/USD1 pair to $24 111. Meanwhile, BTC quotes in the USDT pair remained stable at the level of $87 000–$88 000.
The incident was caused by low liquidity of the USD1 pair. This is a stablecoin issued by World Liberty Financial, a company associated with the family of the 47th US President Donald Trump, which receives about 60–75% of the profits from the project. The coin is positioned as a tool to strengthen the dollar's dominance in digital assets.
Donald Trump actively positioned himself as a "crypto-president" during the 2024 election campaign: promising to make the US the "crypto capital of the world," create a strategic Bitcoin reserve, fire SEC head Gary Gensler, remove regulatory restrictions, and generally support the industry. This caused huge hype — after his victory in November 2024, Bitcoin soared from $70,000 to $126,000 in early 2025. However, then the rate fell all year ( and some altcoins collapsed several times ), and while gold, silver, and other assets set record after record, the crypto market, it seems, has entered a stage of crypto winter.