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Cyber Bitcoin reported that according to some market analysts, Bitcoin's decline of nearly $1,300 during the 24-hour trading period may be caused by speculative trading of some bitcoin whales.

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Bitcoin fell 8% on Monday, leading to further market bottoming.

According to the Crypto-whale tracking Twitter robot, the reason may be that a trader suddenly transferred 25,000 bitcoins (worth more than $200 million) from a private wallet to a Coinbase account. Next up is 14,000 bitcoins, worth $112 million, from Coinbase to another wallet, and then 11,000 bitcoins, worth $88 million.

A Reddit user observed the actions of a large user,

BTC DUMP TODAY has been completed. Approximately 25K BTC (valued at $215 million) arrived at COINBASE approximately 20-30 minutes ago. After an hour, transfer from COINBASE to another wallet of 14K BTC (worth $112 million). After 40 minutes, 11K BTC (worth $88 million) from COINBASE to another wallet. After 15 minutes, a wallet is worth $10 million from one wallet to another.

Like that, the altcoin follows the Ethereum, XRP, Litecoin, EOS and Bitcoin cash. Bitcoin is currently trading at 7,720usd.


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