The hard sell that followed Bitcoin (BTC)’s ATH caused sharp movements of up to 30% in the market.
Bitcoin price yesterday 69 thousand dollars exceeded and reached its all-time high. After the price reaches its peak hard sell And position closings It created a shock effect in the cryptocurrency market.
During this period, Bitcoin price increased from 69 thousand dollars to 15% with near fall for 59 thousand dollars While this rate decreased by 10% in altcoins to 35% much endured. During this movement, cryptocurrencies 1 billion dollars transcendental liquidation took place.
What is the reason for the sharp movement of $ 10 thousand in Bitcoin?
By Chinese cryptocurrency news reporter Colin Wu in sharing, It included CryptoQuant data. According to the post, CryptoQuant discovered that a mining wallet 10 years ago, after Bitcoin reached its peak price of $69,000, was transferred to the US cryptocurrency exchange Coinbase. 1,000 BTC He said he sent it and made a sale.
The sale of large amounts and single items led to a deepening of the decline that would normally occur. your wallets 10 years ago Its ownership was also one of the reasons that caused a decrease in the price.
Transfers with a large Bitcoin year give serious warnings in on-chain data. Consequently bots making moves And traders It may also have sold in line with this data and deepened the decline.
According to CoinGecko data Bitcoin At the time of writing, the price almost erased the sharp decline that followed. from $65,867 is being traded.