Another example of whales causing massive intraday volatility came to light on May 17th when a huge 5,000 BTC sell order by a suspected whale caused a mass liquidation of contracts on BitMEX — popular bitcoin margin trading platform internationally. This mass liquidation caused the price of Bitcoin to drop by almost 20% in a matter of minutes on Bitstamp. Before the “flash crash” BitMEX’s bitcoin index was only dependent on Coinbase Pro and Bitstamp price feeds. After the investigation, BitMEX has added Kraken to its index to reduce the chances of manipulation. The price of BTC has rebounded to its pre-crash levels since then, but goes to show the effects of bigger players on smaller market assets with minuscule market cap as compared to other financial markets.