Today's Market Analysis: What Happened with BTC's Crash a Few Hours Ago?
Answer: It was not a massive whale sell-off, but rather a deliberate market manipulation by a group.
1. Around 8 AM, Galaxy Digital used Bitcoin from a 14-year-old ancient whale to directly transfer it to 5 exchanges to start selling, which are Binance, Bybit, OKX, Kraken, and Bitstamp. In the past 4 hours, a total of 80 transfers were made.
2. The company's main business is over-the-counter (OTC) trading, and it has a large number of institutional clients that could easily facilitate trades, but it chose to sell off directly, which is clearly intentional.
3. It is not hard to see their true intentions when combined with the 2 billion USDT that was issued last night.
4. The company still holds 33,763 Bitcoins. It has shifted the current market focus and control onto itself, expanding its influence in the cryptocurrency space.
U.S. stock investors can buy its stocks, expecting them to double in value within a year. It rose from 27 to 32 in 6 days.
