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Bitcoin Is Being Manipulated | Willy Woo
Over the weekend, Bitcoin came crashing down under $43,000 overnight. The surprise wasn’t well-received and of course, Twitter went crazy with Tweets about the flash crash..
Analysts have a lot of insights on ‘The great fall’ which took place on December 3rd, 2021.
Willy Woo, famed investor known for his On-Chain analysis, was quick to post on twitter his thoughts with two consecutive tweets – Today’s dump, brought to you, in part, by spoofers on Binance.
With over 6000 likes, this one-liner was enough to explain the “dump” in Bitcoin prices. Whales on Binance place huge orders and then retreat when the prices drop known as spoofing. Although it is illegal to do so in trading markets, order book spoofing is rife in the crypto industry.
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