This big player actually transferred 24,000 BTC to Binance in one go, worth a staggering 4 billion dollars at current market prices! What’s even more chilling is that he didn’t choose a limit sell order, which at least could provide some buffer to the market and create price resistance. Instead, he directly pressed the market sell button — this means dumping without regard to cost, all at once!
This seemingly simple action, however, was like dropping a heavy bomb into the market. The BTC price plummeted in response, dropping 5,000 points in a very short time, catching countless investors off guard. The chain reaction in the market was even more brutal: in just 10 minutes, positions worth 300 million dollars were forcibly liquidated; and in the following 4 hours, the total liquidation amount approached 400 million dollars, with many people's funds turning to ashes in this sudden storm.
But that’s not the most terrifying part. According to on-chain data, this 'fire sale master' still has 152,000 BTC in his wallet, worth up to 17 billion dollars, and none of this BTC has been deposited into any exchange to date.
It's like a 'ticking time bomb' hanging over the heads of all the bulls! You should know that this time he just tested the waters, yet it triggered such a drastic market shock. If one day he is in a bad mood or has other ideas, and he once again presses the market sell button, the consequences would be unimaginable.
So, dear bull friends, this is really not the time to be careless. You must be on high alert and set your stop-loss orders properly; this is the most crucial step to protect your funds right now. No one knows when this whale will act again, all we can do is be fully prepared and not let ourselves become victims in the next wave of liquidation!
