On April 14, an unidentified market maker made an algorithm error after the OM (Mantra) flash crash, accidentally driving up the BTCDOM (Bitcoin Market Cap Share Index) perpetual contract on the Binance platform by 20%.
The components of the BTCDOM index include the top 20 cryptocurrencies by market capitalization on Binance and Binance Futures. Excluding BTC and stablecoins, OM weighting is only about 5%. This abnormal fluctuation is suspected to be due to the market maker's misjudgment that the violent fluctuation of OM price is a change in market structure, which mistakenly touched the strategic buying operation.
Or due to the OM flash crash, the market maker algorithm has abnormally pushed up the BTCDOM perpetual contract by 20%.
2025-04-13 23:47:31
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