The current BTC rate shows a rebound and maintains a chance for a V-shaped reversal.
Various information is circulating about the reasons for such a sharp dump of #BTC, completely detached from the rest of the market.
Our subscriber through #Arkham saw signs of manipulation by the market maker #Wintermute, which is also being actively discussed online. A similar story, let's remind, was in early February.
At the same time, there is another story - about a large player who sold several tens of thousands of #BTC at market price, exchanging them for #ETH. Quote from post X:
"This guy really converts everything to ETH, right?
At the moment, he has sold 18,142 BTC for $2.04 billion at current prices.
He is currently selling the last 5,968 BTC ($670 million), of which 4,968 BTC ($678 million) are still outside of Hyperliquid."
Did a single factor play a role, or is this a "perfect storm"? Most likely, both situations played a role.
Be that as it may, it was a movement similar to the final liquidation that we were waiting for several days ago, placing orders at $111,074 and $109,571. Such liquidations with such a buyback rarely become the start of a long correction. However, they often become reversal extremes.
Unfortunately, in the new position we removed those stop orders. There was a new order at $112,827, but the rate of decline was such that it did not help. The position was manually saved on the exchange where we had more copiers with larger capital - Binance. There, I remind you, after the Strong signal of potential support on the 2-hour timeframe at $111,633.20, there was a new entry.
BUT unfortunately - Binance did not perform correctly, at the moment of the surge in order activity, some of our copiers got liquidated there due to inaccurate copying. In some cases, the difference was less than $1, which is very disappointing.
Continuing the experimental column #futures_trade, with new conclusions.
