“Considering that the exchange order book shows 5-10 bitcoins of liquidity for every $100 price change, a sell-off of 1,000 bitcoins is highly likely to trigger a significant price drop,” Bradley Park, an analyst at CryptoQuant, told CoinDesk in an interview. “Especially when traders are waiting to enter a short against bitcoin’s all-time high like on Tuesday.”

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Author: Sam Reynolds

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