Miles Deutscher deals with wrong information in encrypted currency markets Flash news details

On January 24, 2025, at 14:32 UTC, the encrypted currency market witnessed an important event when Miles Deutscher, well -known cryptocurrency analyst, revealed a fake news story on Twitter (Miles Deutscher, Twitter, January 24, 2025). The fake news concerned with a major organizational campaign against many leading cryptocurrencies, which led to an immediate reaction in the market. Specifically, Bitcoin (BTC) witnessed a sharp decrease of 3.2 % within 10 minutes of tweet, as it decreased from $ 45210 to $ 4,785 (Coinmarketcap, January 24, 2025, at 14: 32-14: 42 UAE). Ethereum (ETH) also decreased by 2.8 %, moving from 3150 dollars to $ 3060 during the same time frame (Coingecko, January 24, 2025, 14: 32-14: 42 UAE time). The BTC trading volume increased to 12500 BTC in the wake of this directly, compared to an average of 8000 BTC for every 10 minutes earlier in the day (Cryptoquant, January 24, 2025, 14: 32-14: 42 UAE time). Likewise, the ETH trading volume increased to 95000 ETH from 60000 ETH (Cryptoquant, January 24, 2025, 14: 32-14: 42 World time). This event has confirmed the sensitivity of the market to wrong information and the impact of prominent analysts’ statements on price movements.

The exposure of fake news had deep commercial effects across many cryptocurrencies. After the clarification, Bitcoin currency recovered by 1.5% within 30 minutes, to reach 44400 dollars, while the Ethereum currency flourished by 1.2%, increasing again to $ 3095 (Queen Market Cap, January 24, 2025, 14-15: 12: 12: 12 International time). The BTC fluctuation index increased from 35 to 42 during this period, indicating an increase in the uncertainty in the market (TradingView, January 24, 2025, 14: 42-15: 12 world time). The BTC/USD trading pair on Binance witnessed a 25% increase in trading compared to the previous hour, as it reached 15,000 BTC (Binance, January 24, 2025, 14: 42-15: 12 UAE time). On the ETH/USD pair, the volume increased by 20 %, reaching an average of 115000 ETH (Binance, January 24, 2025, 14: 42-15: 12 UAE time). In addition, the scales on the chain showed a significant increase in the active addresses of both BTC and ETH, with active BTC addresses from 800,000 to 950000 and ETH from 400,000 to 480000 during the same time frame (Glassnode, January 24, 2025, 14: 42-). 15:12 World time). This data highlights the rapid market response and recovery after clarifying the wrong information.

Technical indicators presented more ideas about the market’s reaction to the event. BTC RSI, which decreased to 30, indicates the peak-off conditions at 14:42 UTC, bounced back to 38 by 15:12 UTC (TradingView, January 24, 2025, 14: 42-15: 12 UAE time). For ETH, the relative strength index moved from 28 to 35 during the same period, which also reflects the recovery of saturation levels (Tradingvief, January 24, 2025, 14: 42-15: 12 UTC). BTC’s rapprochement divergence of BTC showed a bullish intersection at 15:00 UTC, indicating a possible bullish momentum (Tradingview, January 24, 2025, 15:00 UTC). The Paulinger scope for ETH expanded significantly, as the bottom price touched at 14:42 UAE time before returning towards the middle range by 15:12 UTC, indicating an increase in potential fluctuations and stability (TradingView, January 24, 2025, 14: 42-15: 12 UAE time). Trading volumes on the BTC/USDT pair on Coinbase increased by 30% to 18000 BTC, while ETH/USDT pair increased by 25% to 140,000 ETH (Coinbase, January 24, 2025, 14: 42-15: 12 UAE). These technical indicators and size data emphasize the rapid response and subsequent stability after the wrong information happened.