THIS IS WHY THE CRYPTO MARKET IS DROPPING HARD đ¨
The crypto market just took a heavy hit.$BTC Bitcoin slipped below $81,000 and Ethereum dropped close to $2,500. Because of this sudden move, around $380 million worth of long positions got liquidated in just 30 minutes.
What caused it?
A well-known Bitcoin whale seems to be the main trigger.
This is the same whale who reportedly made $200 million by shorting the market before the October 10 crash. Over the last month, he built more than $700 million in long positions. Today, during a low-liquidity weekend, he started closing those trades.
In just 10 minutes, over $65 million in $ETH long positions were closed. That move pushed trading bots and copy traders to exit their positions too, which caused a chain reaction of liquidations across the market.
Thatâs how the dump accelerated so fast.
Now everyone is asking the same question:
Did this whale see something coming⌠or is he just shaking the market to buy back at lower prices?
Either way, this shows how fast things can change in cryptoâespecially when big players move.