Market maker algorithm abnormality pushes up BTCDOM perpetual contract by 20%, or accidentally triggers strategy due to OM flash crash

Odaily Planet Daily News: An unidentified market maker made an algorithm error after the OM (Mantra) crash, unexpectedly boosting the BTCDOM (Bitcoin Market Cap Index) perpetual contract on Binance platform by 20%. The BTCDOM index includes the top 20 cryptocurrencies listed on Binance and Binance Futures, excluding BTC and stablecoins, with an OM weight of only about 1%. The abnormal fluctuation this time is suspected to be due to the market maker's erroneous judgment that the drastic fluctuation of OM price is a change in market structure, which mistakenly triggered a strategic buying operation.