There is a phenomenon that often occurs in the market, where prices suddenly soar and then plummet, which is called the "whale trap". This is usually done by those "whales", who have a lot of money and can easily influence the market trend. This routine works like this:
First, these whales will suddenly buy a large amount of a certain cryptocurrency, causing the price of this currency to soar. This immediately attracted retail investors, who were afraid of missing the opportunity to make money and followed suit to buy. But when the price rose to the highest point, the whales began to quietly sell their goods, and the price naturally fell sharply.
After this wave of operations, those buyers who were late to the party were miserable, and their money was stuck, while the whales made a lot of money by creating this market fluctuation. To put it bluntly, the whale trap is to use the market rules and the psychology of small investors to deliberately lure them into the trap so that they can make a lot of money.
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