Binance Just Puked on Bitcoin in an “Unusual Size” Trade That Typically Precedes a Major Bad News
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Either this is a nothingburger pullback, which sets the stage for an epic Bitcoin short squeeze, or a bad omen for another episode of Fear, Uncertainty, and Doubt (FUD). Either way, Bitcoin investors are sure to remain glued to their screens for the next few hours amid the possibility of a near-term trend-defining event.
$BTC Spot CVDs 16K BTC sold at market from binance spot Other spot exchanges had pretty typical size being sold
Interesting selloff here pic.twitter.com/9SmirkSM7b
— Skew Δ (@52kskew) April 19, 2023
Just a few minutes back, around 16,000 BTC were sold in the Binance spot market. Notably, other major crypto exchanges continued to exhibit normal volumes even as this aberrant dump progressed. This suggests that the issue appears to be Binance-centric.
BREAKING: Massive long liquidations just hit the market.
Coinglass data shows a $166.42M lost within the last 1h.$BTC lost $1,000 immediately, and altcoins have been sailing into the Red Sea
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