Bitcoin (BTC) has experienced a 4% drop within 24 hours, possibly due to the actions of whales holding significant amounts of the digital asset. The article suggests that whale-driven market manipulation may have created a bull trap, taking advantage of the increased open interest and leverage in the market. Additionally, the announcement of a delay in the SEC’s decision regarding Bitcoin ETF applications further impacted BTC’s trajectory. Despite recent fluctuations, the level of liquidations remained lower compared to previous events, indicating a possible shift towards a long-term perspective. The article advises readers to be vigilant of the interplay between short-term fluctuations and long-term trends in the cryptocurrency market.
AI Sentiment: Negative
