💣 2.7 billion Dollars in the air... Who sold? And why did the market crash?

The recent drop in Bitcoin was the result of the interaction of several influencing factors, each of which played a role in pushing the market towards a decline:
🔻 Huge sell-off by a dormant "whale"
One of the major investors who had not moved for years sold 24,000 Bitcoins in one go for 2.7 billion Dollar, causing immense pressure on the market.
📉 Mass liquidation of positions
More than 900 million Dollars worth of open positions were liquidated in 24 hours, with about 300 million Dollars in just one hour. This type of liquidation increases panic and leads to further selling.
📊 Expiration of cryptocurrency options
The monthly options that were about to expire raised concerns among traders, prompting them to reduce their positions or sell them to avoid unexpected volatility.
💬 Cautious statements from the American Federal Reserve
The Federal Reserve Chairman, Jerome Powell, made discouraging remarks about inflation, leading to a decline in confidence in high-risk assets like Bitcoin.
🧠 The momentum faded after the Jackson Hole conference
Although Bitcoin gained after the conference, those gains quickly faded after the movements of the whales and the absence of new catalysts.#Crypto Market Rebound