Crypto crash: Bitcoin under pressure – major investor sells billions!

Crypto crash: Bitcoin under pressure – major investor sells billions!

Last weekend, Bitcoin was once again the focus of the crypto markets and experienced a dramatic fall in price. The price fell below $113,000 after rumors spread of a massive sell-off by a major investor, also known as a crypto whale. This came amid a short-term surge that hit $117,000 following a speech by Federal Reserve Chairman Jerome Powell on Friday. However, experts viewed this increase as unsustainable, with Kronos Research CIO Vincent Liu pointing to thin liquidity as a key factor.

Speculation was circulating on the social media platform X that a major investor sold over 24,000 BTC, which is said to have triggered the price drop. However, Liu warned that it is more likely that multiple whales or an exchange with significant holdings were involved in the selloff. Volatility will remain high in the coming days, especially as US initial jobless claims are released on Thursday.

Market movements and buying interest

Markets continue to be volatile as Bitcoin and Ethereum undergo corrections after a previous rally. While Bitcoin fell by $12,000 to around $124,000, Ethereum saw a 10 percent decline. Despite these setbacks, large investors appear to be taking advantage of buying opportunities, particularly in the Ethereum sector. It was reported that a crypto whale opened a long position worth $300 million.

Long-term forecasts for Ethereum show a bullish outlook, with price targets above $40,000. The current crucial level for Ethereum is $4,200; a hold could attract more buyers, while a break below could potentially lead to a further decline to $3,900. Fed Chairman Powell's speech is seen as a bellwether for the market and could be crucial to a possible rate cut in September.

Liquidations and trends in the crypto market

The correction in the past few days can be attributed to profit-taking and the unwinding of leveraged positions. In the current market moves, open interest fell to $195.34 billion and in the last 24 hours there were liquidations worth $447.98 million, with long liquidations accounting for $362.31 million. These market conditions show that investors remain invested in the crypto market despite the uncertainty in a difficult environment.

In conclusion, signs of a possible recovery can be observed in both Bitcoin and Ethereum, while XRP continues to struggle with support at $2.75. The coming days will be crucial as investors and market watchers pay attention to labor market developments and the central bank's associated response. Given the movements and strategic purchases of major investors, the market remains extremely dynamic and characterized by high risks.

For more information please visit deraktionaer.de and krypto-magazin.de.