Bitcoin Cash (BCH) falls 20% as Mt. Gox announces creditor repayments, highlighting poor liquidity on centralized exchanges.
Bitcoin cash (BCH) experienced its largest drop in three months, falling 20% last week due to Mt. Gox announcing creditor repayments. The sell-off was amplified by poor liquidity across centralized exchanges, as well as panic selling by BCH holders anticipating mass liquidations by Mt. Gox creditors. Slippage, which is the difference between the expected and actual price of a trade, surged across BCH markets listed on Bybit and Itbit, indicating worsening liquidity due to insufficient order book depth for large market orders. The poor liquidity issue has been ongoing since the bankruptcy of market makers FTX and Alameda Research in November 2022.
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