Here’s exactly what happened:
Binance sold 40,467 BTC
Wintermute sold 12,697 BTC
Coinbase sold 15,630
Trump Insider sold 15,189
Kraken sold 5,548
OKX sold 7,966
This is a coordinated manipulation to rekt retail investors.
Order books can’t absorb size at the moment.
When big players needs to sell or meet redemptions, the price reacts FAST.