Bitcoin Whale sells more than 6500 BTC on Binance, breaking price by $ 500
The Bitcoin price reached $ 12,794 a few hours ago and broke through a Bitcoin Whale within a few seconds to $ 12,068 again. Meanwhile, the Bitcoin price has rebounded from the strong dump to over $ 12,300.
Bitcoin Whale guilty of BTC flash crash?
For anyone who has followed the Bitcoin Chart on Binance, the heart has stopped short for sure. The Bitcoin price was on its way to $ 13,000 as the unpredictable selloff of over 6500 BTC pushed $ 12.100 in support. Within just a few minutes, Binance Bitcoin, worth $ 60 million, has left the table alone.
Currently it is not clear whether the sale was by a single person or was organized by several people. In addition, set trailing stops could be responsible for the short-term price slump. Maybe we will find out in the next few days.
Bitcoin Whales have great influence in the market
Through our Whale Alarm, we can see and analyze all the big BTC moves to Wallet Wallet. Mostly these are the normal internal transactions of the exchanges themselves. Sometimes, however, there are private individuals who actually want to sell a large amount of BTC in one fell swoop. In the end, we probably can not react that fast to protect our investment from such burglaries.
Nevertheless, it is always exciting to see how manipulatable the crypto market is still. Partly “small” amounts of BTC are sufficient to move the price up or down. We will keep an eye on the current situation for you and inform you immediately of important changes.
Published at Wed, 10 Jul 2019 03:35:25 +0000
