THIS IS THE REASON CRYPTO MARKET IS DUMPING HARD 🚨
Just now, $BTC dropped below $81K while eth reached almost $2,500.
This led to almost $380 MILLION in long liquidations within 30 minutes.
The biggest trigger of this dump was the Insider Bitcoin whale.
This is the same whale who made $200 MILLION by shorting before the October 10th crash.
In the past month, the whale built over $700 MILLION in long positions.
Today, he started to close the positions during a low-liquidity weekend.
Within 10 minutes, the whale closed over $65 million in ETH long positions.
This triggered algos to close other long positions of those who were following this whale.
And the liquidation cascade started.
Now the biggest question is:
Does this whale know something, or is he dumping to buy back cheaper soon?$BTC
BTCUSDT
Perp
77,708.1
-7.57%
ETHUSDT
Perp
2,374.05
-13.30%