Bitcoin Flash Crash Roels Crypto Market

The encryption prices fell on Monday after the so -called Bitcoin Flash collapsing on Sunday. While Ethereum also decreased, the second most popular cryptocurrency per month is still.

The weekend accident in Bitcoin is blaming on one whale selling 24,000 Bitcoin, according to Encryption On the latest peak at X. Bitcoin, it amounted to $ 117,370 on Friday, not too far from aTime height at $ 124,500. But Bitcoin is currently sitting at $ 112,660, which is much lower than the last levels.

“Bitcoin Flashs, which has wiped $ 310 million in long sites, has been tracked to one bitcoin whale.

“They sold more than 18,000 BTC ($ 2 billion) so far and they are in the process of receiving the remaining 6000 BTC ($ 670 million). Follow most of the money to Ethereum, buying $ 2 billion and $ 1.3 billion.”

It seems that this sale has led to the start of a chain reaction and a wave of sale at an amount of $ 100 billion in just 24 hours, according to what it said. ForbesAs the merchants seemed to be concerned about whether the optimism of the Jerome Powell data on Friday could be a mirage. Powell noted that he may reduce interest rates at the next meeting of the Federal Reserve in September.

But others are more suspicious that the price is really swinging due to a whale, which indicates that it may be due to “multiple whales” instead of one entity, according to Mass. Whatever the cause of Bitcoin’s decline, there is no doubt that Ethereum was better in recent days.

ETHEREUM has decreased by 4 % over the past 24 hours to 4,637 dollars, but it still rises by 24 % a month, according to Coinmarketcap. Why ethereum recently works well? There are a lot of different theories, including the popularity of immediate traded investment funds, which now represent about 30.5 billion dollars or 5.2 % of the maximum ETHEREUM market, according to Street.

But there is also a lot of noise in the main news means about Ethereum, with a modern story in Wall Street Journal Promoting all the large money that “accumulates” in the encrypted currency. One of these investors seems to be Peter Thil, the co -founder of the billionaire in PayPal. The magazine stated that people close to Thiel believe that “his recent bets stems from the belief that Ethereum will continue to grow.”

But this type of noise is likely to be taken with a grain of salt. The founders company, which is the investment capital company in Thiel, sold it quietly about $ 1.8 billion in Crypto by the end of March 2022, a long period of Crypto’s crash in 2022. Thiel had been spent at a time when he was like Crypto like Crazy, and tells us an encrypted conference in Miami at almost the same time, “We are at the end of a money system FIAT. Thil did not mention at the conference that he was selling him while he would be near the summit immediately before the collapse, according to the Financial Times, which only revealed his sales in January 2023.

Thiel really has a talent for the purchase of Low and Bell High, which is the smart play for any investor with discipline. But it is clear that this is not how the markets already work in practice, encryption or otherwise. He buys people at the top because they are afraid of missing persons, and then leave they hold the left like young people like Thil. The question, of course, is whether it is sustainable in Crypto sustainable.

The Trump encryption system has been great news for this industry, but no one knows whether the number could continue to rise, given the uncertainty in American economic expectations. There is also a small problem that encryption is more than just speculative assets without inherent value. Despite the endless promises of the past fifteen years, the average person does not use encryption to actually buy goods regularly.

The bloc indicates that big players like Blackrock, Grayscale and Fidelity have seen. $ 1.4 billion In net external encryption exhodes last week, the highest since March, when investors became volatile. Other cryptocurrencies were struggling on Monday, including Ripple that decreased by 2 %, Solana to more than 4 %, more than 3 % decreased, and Dogecoin by 5 %.