Suddenly, there is a huge spot buying force appearing on Binance with extremely high volume !!!!!
After the news that Galaxy directly sold 30,000 $BTC worth 9 billion USD spread in recent days, $BTC dropped, causing panic among certain altcoins. However, is the price drop due to this news really concerning? This event reminds me of the German government and Mt.Gox selling $BTC around the price of 50Kxxx. In my personal bias, the bookmakers are taking advantage of this news to create confusion in order to shake out retailers, especially in the context where the representative altcoin, #ETH, is extremely strong. #btc #eth #galaxy
Show original
23.54K
50
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.