I was baffled by this behavior. Post as a guest Name. This effectively blocks the price from dropping. Paul Paul 1. It is not in a whale’s best interest, for example, to allow a currency to climb in price above a particular level until they have accumulated as much of that currency as possible. Bitcoin Stack Exchange works best with JavaScript enabled. Linked 0.
A billion-dollar Bitcoin move
The crypto market is known for its wild west environment, rife with scams, bad actors, and market manipulators. Last year, the CFTC launched a probe into potential market manipulation across Bitcoin markets, yet the problem persists even today. But who set the order, and what was the intent behind it? Buy walls can simply be large orders by large players just waiting to be filled. Obviously someone trying to unload some corn. Large buy orders like this one give crypto traders false confidence massive buy wall bitcoin support or buying vuy below exists, and can artificially drive up the price of an asset.
Advertise Here or Hide Ads. A massive crypto whale has moved , BTC on July 29, causing a stir in the crypto community on Twitter. The crypto market has entered a period of consolidation after most cryptocurrencies have spent the better part of June in the green. And while some of the largest coins have been showing signs of recovery, the prolonged consolidation has put the crypto community on edge. Everyone has been keeping a close eye on some of the largest crypto whales, waiting to see whether any of them move their funds in anticipation of a market drop. A massive stir was caused when it was noticed that a massive whale moved , BTC on July First shared on Twitter by Larry Cermak, the director of research at The Block, the news spread like wildfire leaving many users to wonder what might be the cause of the move.
The crypto market is known for its wild west environment, rife with scams, bad actors, and market manipulators. Last year, the CFTC launched a probe into potential market manipulation across Bitcoin markets, yet the problem persists even today.
But who set the order, and what was the intent behind it? Buy walls can simply be large orders by large players just waiting to be filled. Obviously someone trying to unload some corn. Large buy orders like this one give crypto traders false confidence that support or buying interest below exists, and can artificially drive up the price of massive buy wall bitcoin asset. The inverse is true for sell walls. Other theories include the buy wall being used to actually unload Bitcoin.
The analyst says that the buy wall was the only way the price could be sustained while the same person was dumping their Bitcoin at slightly higher prices. Largest single order I’ve ever seen. Open interest increasing typically precedes a big move, and given how long Bitcoin has been trading sideways, the largest move in some time is expected. BitMEX is a popular margin trading platform where traders go to take advantage of major price movements by trading Bitcoin with up to x leverage, multiplying any gains by a factor of ten.
All bar a All Rights Reserved. We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy. Crypto Credit Lines Sponsored. Bitcoin Crypto 3 mins. Tony Spilotro 4 months ago. Next Article: UK Resident? Get Started Now. Martin Young 7 hours ago. Nick Chong 10 massive buy wall bitcoin ago. Nick Chong 12 hours ago. I accept I decline.
Privacy Center Cookie Policy.
Get the Latest from CoinDesk
And he got his BTC wall filled last week. Ethereumcurrently ranked 2 by masxive cap, is up 7. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune companies along with smaller firms. Another variation are lots of smaller positions which are canceled after a few seconds reopened gain at a similar price level. Maybe they try to trigger buy decisions of other bots. I understand both lines and dots represent limit orders. Blockchain Explained A guide to help you understand what blockchain is and how it can be used by industries. By using our site, you acknowledge that you have read and understand our Cookie PolicyPrivacy Policyand our Terms of Service. Home Questions Tags Users Unanswered. Priyeshu Garg Twitter. Sell walls create an impression of a strong supply. Joy Joy But that was only what made sense to me when analysing the same situation on exchanges. NateEldredge: True, but it still remains that at worst this question misunderstands fundamental concepts and at best it’s asking us to be mind-readers. Login Newsletters. I massive buy wall bitcoin not masslve about the origin of the wall.
Comments
Post a Comment