The BTC dump today was completely manufactured:
About 20-30 mins before the dump, a whale moved 25k BTC (worth $215M) to Coinbase.
LinkAbout an hour after the dump, a whale moved 14k BTC (worth $112M) from Coinbase to another wallet:
Link40 mins after that, a whale moved 11k BTC (worth $88M) from Coinbase to another wallet:
anchor15 mins after that, a whale moved 10M USDT from one wallet to another:
LinkIf you do a little math and follow the timeline, it's not hard to see that someone dumped 25k BTC for $215M and bought it back shortly after for $200M. In doing so, they pocketed $15M and walked away with the same amount of BTC as they started with.
Fuckers.
Edit: For all those saying that no one was complaining when a whale entering the market drove the price us. No shit, all boats rise in that situation. In the one we're talking about here, only one group of people benefit whereas the vast majority are negatively impacted. That's the difference.
Source for the original post Very well said it is a good analysis and the sad part is, they can do this over and over again, but what can we do it's an open market and this is always subject for manipulation, Bitcoin has a lot of whales around it, something should be done about this in the future.