@qelarnwix
The big pancake dropped to 110,000, ETH fell below 4,700,
Who was dumping last night?
Answer: The exchanges.
In the early hours, ETH surged wildly and was about to break through 5,000.
But a certain leading exchange suddenly closed long positions, selling off about 2,600+ ETH on-chain,
Subsequently, several platforms followed suit, triggering a sharp drop.
Let's just say, who would be dumping the market when the ETF institutions are not at work and most time zones are asleep?
Many KOLs in the English-speaking community @TedPillows suspect this was an exchange-led action.
Moreover, most retail investors didn't benefit from the flash crash “bonus,”
The ones who truly caught this liquidity spike were the market makers.
A textbook-level harvest.
I only went to sleep at four in the morning after playing Mahjong.
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