This recent dump appears to be a deliberate move by market makers designed to liquidate the overly bullish long positions opened by retail traders after Bitcoin hit a new all-time high.
With leverage and perpetuals being mainstream, they can profit in both directions, by triggering liquidations on both longs and shorts.
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This recent dump appears to be a deliberate move by market makers designed to liquidate the overly bullish long positions opened by retail traders after Bitcoin hit a new all-time high.
With leverage and perpetuals being mainstream, they can profit in both directions, by triggering liquidations on both longs and shorts.