Gate News message, April 23 — A major centralized exchange experienced a significant futures-spot price spread on BTC/USDT over the past hour. Spot prices fell to $77,174.01 while futures dropped to $76,504.60, creating a spread of $669.41, or approximately 0.87%. The spread has since narrowed, with prices rebounding to $77,365.
Market participants attributed the divergence to liquidations on the futures side triggering passive selling, compounded by a temporary thinning of liquidity. Arbitrage capital subsequently moved in to close the gap, restoring price equilibrium between the two markets.
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