How BTC Dropped Hard Right After Record

Cryptocurrency exchanges, which have been very active lately, hosted a very big event a few days ago. Yes, Bitcoin (BTC) price reaching a record level we are talking about. BTC, which has never seen these levels before, $69,170 reached this level and made history. However, in the following period, there was a very sharp decline. BTC, which dropped to $ 59,300 within hours, is now $66,000 is traded at levels.

Well, while BTC has experienced such a rise? Why did it suddenly fall?? What kind of mechanism was working behind this? In this news, we will talk about how BTC, which renewed the ATH (all time high), fell very quickly. We will also tell you an exemplary fact at the end of our news.

Sell ​​orders triggered the decline!

*Screenshot taken from Binance exchange.

For the price of any asset traded on the stock exchange to increase, buyer side It needs to weigh more heavily. Otherwise, price decreases may occur. This is exactly what caused the BTC price to drop sharply. Investors holding a large amount of BTC in their hands, 330 for $ 69,000, 114 for $ 69,500, 504 BTC for 70,000 dollars They entered a sell order. Since no buyers could be found to meet these sell orders, the BTC price dropped. Of course, with the beginning of the decline panic sales done and this caused the decline to deepen.

Leveraged transactions worth $1.1 billion were liquidated (liq)!

In a warning news we shared with you recently, we ask why, as an investor, leveraged from transactions Because you should stay away we mentioned. Here is a development that showed how right we were, on the day when BTC first broke the record and then fell sharply. Just when harsh movements are taking place in BTC $1.1 billion The leveraged transaction was liquidated (liq). $870 million of this amount consisted of users who thought that the rise would continue and opened “long” transactions.

*This content cannot be considered investment advice.