Recent events in the crypto world have stirred a wave of emotions - from euphoria to panic. Bitcoin once again demonstrated its volatility, and the activity of major holders has created additional market disturbances.
Bitcoin's Sharp Drop
On Sunday, the sentiment in the crypto market shifted from excitement to chaos. Bitcoin fell below the $111,000 mark, briefly reaching $110,671 due to a rapid drop caused by high liquidity and an avalanche of liquidations. In a 24-hour period, $611 million were liquidated, with $445 million on bullish bets.
Whale Selling on the Market
One of the most intriguing events was the massive sale of bitcoins by a holder who previously owned 100,784 BTC. They sold 22,769 BTC, valued at approximately $2.6 billion, in exchange for 472,920 ETH. Vijay Boyapati’s comment explains this sale: "Price stagnated as several whales hit their threshold and are selling."
Three Threats to Bitcoin
While Bitcoin tries to stabilize, several factors may impact its price direction. First, the PCE index data due out on Friday. Second, Nvidia’s financial results, which could affect tech markets and subsequently cryptocurrency. Third, the $105,000 level has become a psychological threshold, and a break below it could trigger panic among smaller investors.
Events in the crypto market continue to spark discussions and concerns. Experts urge caution and to closely monitor how major players influence price dynamics while smaller holders keep accumulating assets.
