Bloomberg, the New York-based international news agency, released a piece about the Commodity Futures Trading Commission is investing BitMEX. According to crypto enthusiast Spencer Noon, after the news broke out the exchange lost USD 85 million in Bitcoin in less than a day.

At the same time, crypto coins worth over USD 12 million were withdrawn as the total loss reached USD 73 million. The average amount of money withdrawn from BitMEX’s wallet tripled demonstrating how users are leaving the exchange.

As reported by Ethereum World News, the trading daily volume also rapidly dropped validating the other statistics. As the volume decreased by 50 percent, it was clear that the platform wasn’t of interest anymore.

A prominent crypto expert, Alex Kruger, commented that these quick price drops are a result of the low liquidity issue in the crypto market. On the other hand, a successful crypto trader mentioned that recently the market has been very sensitive due and the price movements are becoming increasingly erratic. This left many traders very anxious.

Kruger also believes that the liquidity issues of the exchange may have been stimulated by the recent outrage for crypto regulations and President Trump’s Tweets on cryptocurrency. Even though a cryptocurrency ban isn’t a likely possibility, crypto exchanges and other crypto businesses will operate under new guidelines.


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