On the morning of June 7, leading global financial technology platform Revolut drew attention after an unusual price deviation for Bitcoin appeared on its app. Users reported that the BTC price sharply dropped far below its market value before quickly returning to normal. The incident was clearly visible on in-app price charts and resolved within minutes as data flow normalized.
Major price deviation raises concern
Users logging into Revolut observed that the price of Bitcoin momentarily plummeted to £29,414 during the day. This significant dip was reflected in Revolut’s official charts, and some social media posts even claimed the price dropped nearly to zero. CoinDesk was unable to independently confirm these lower figures, but after hitting its lowest point, the price of Bitcoin quickly rebounded to around £58,600.
Outside of the Revolut platform, no similar price swings occurred in the broader market. On widely tracked exchanges listed by CoinGecko and CoinMarketCap, Bitcoin was trading normally around $79,000, with no fluctuations paralleling the app’s sudden dip.
Users claim buy orders executed during glitch
Some users on X (formerly Twitter) suggested that their buy orders were filled during the moment of the price crash. However, there has been no independent confirmation of these claims so far. It remains uncertain whether Revolut would honor these transactions as genuine liquidity events or whether they resulted from a technical glitch or delayed data issue within the platform.
Revolut had not responded to CoinDesk’s inquiries about the incident at the time of publication.
Technical malfunctions like this have occurred in other crypto trading applications in the past. Common causes can include temporary issues with price feeds, low liquidity on the platform, or lagging data streams. Notably, sudden orders in illiquid moments can provoke sharp, short-lived price changes.
No signs of market manipulation found
After the incident, there was no concrete evidence of individual investors suffering losses or of manipulation attempts. Generally, such incidents stem from technical errors in data transmission or extremely low-volume trades that briefly distort reported prices on specific platforms.
A similar temporary price disruption occurred in December 2023 on Binance, when a trading pair briefly dipped far below the going market rate. Likewise, during political events in South Korea in 2024, sudden surges of orders on local exchanges resulted in short-lived price distortions.
Although such isolated price breaks are not common in the crypto market, they can occasionally occur due to reasons unrelated to applications or platforms themselves. In these instances, users are advised to avoid acting on unconfirmed transactions and to exercise caution before making hasty decisions.
