Bitcoin Price Plummets to $55K on Bithumb Following Accidental 2,000 BTC Airdrop

The price of Bitcoin (BTC) experienced a sudden and sharp decline on the South Korean cryptocurrency exchange Bithumb. The crash, which saw BTC briefly touch $55,000, was triggered by a major operational error. The exchange accidentally distributed an airdrop of approximately 2,000 BTC to its users instead of the intended 100 Bitcoins Cash (BCH). This erroneous distribution created immediate selling pressure as recipients quickly liquidated the unexpected Bitcoin windfall. Bithumb has acknowledged the mistake and is currently working to recover the funds. The incident highlights the risks associated with exchange operations and their potential to cause significant market volatility. Market analysts are monitoring the situation to assess any prolonged impact on Bitcoin's price stability.