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This is Why Bitcoin’s Price Crashed to $35K on Robinhood Today

The broader cryptocurrency market saw a considerable recovery over the past hours following yesterday’s bloodbath that came in response to Russia invading Ukraine. Bitcoin managed to recover about $4,000 of its value, but it appears that popular retail trading platform Robinhood went through some challenges in this regard.

  • Several people took it to Twitter today to reveal that the price of bitcoin flash-crashed towards $35K on the popular retail trading platform Robinhood.
  • This came as a surprise to many because, at the same time, BTC was trading above $38K on all cryptocurrency exchanges, painting a gap of roughly 10%. Some people even started considering arbitrage opportunities, but the discrepancy was quickly resolved.
  • Robinhood’s official support account on Twitter revealed that the issue was simply an “incorrect display price” and that it went on for about an hour:

The Robinhood app experienced a temproary issue that led to an incorrect display price for crypto for an hour at 6:50 pm PT. The issue is now resolved. Some customers may have unfilled market orders due to this display issue. We apologize for any inconvenience caused.

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