🚨 Have you heard about pump and dump scams in crypto? Recently, a Bitcoin sale caused a $360.63 million liquidation! 🤯

In the cryptocurrency world, pump and dump scams occur frequently. This is a tactic of inflating the price of cryptocurrency and then selling it off when the price peaks, leaving investors bewildered as they watch their assets decline.

Recently, Bitcoin suddenly dropped 3.63% in a few hours, possibly due to "whales" selling off large amounts of Bitcoin, causing panic among retail investors. Not only Bitcoin, altcoins are also struggling because the market is closely linked. When Bitcoin drops, the value of altcoins also plummets, creating a domino effect.

"Whales" often sell off Bitcoin, wait for altcoin prices to decrease, then buy at cheap prices. Then, they pump up the price of altcoins and sell them off to take profits, causing subsequent buyers to suffer losses.

This cycle continues, and new investors must always be wary of these tricks.

Be careful!

#BnbAth #TopCoinsJune2024 #ETHETFsApproved#altcoins #BTC $BTC