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, 5 tweets, 2 min read Read on Twitter
Bitstamp just got completely destroyed by the algo.

Really can't wait to see if they release a post-mortem on this. Looks like a 3600 btc sell algo was just wiping the book all the way down sitting on the ask side the whole time.
I've never seen anything quite like this before. I've seen similar things, but nothign that moved the market nearly 20%.
#CME gap filled

Thank you to @clarkmoody for the tick data on his beautiful website.

This was executed as one order at one time.
Another interesting tidbit is how ETHUSD on bitstamp also over-wicked a similar amount during the BTC crash.

I don't know if this was arbitrage bots bringint it down, and how this was possible when the BTCUSD market was dead. Does bitstamp run different matching engines per mkt?
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