$AVAX dropped ~8% due to a sell-off of 2 million $AVAX - 54.2 million USD.
According to CoinMarketCap, it takes about 1 million USD to decrease $AVAX by 2%. In reality, 54.2 million USD only reduced the price of $AVAX by about 10%.
=> Is there buying pressure?
Case study on Liquidity.
Edited: corrected due to a misreading
P/S 01: 1 million USD will reduce the price by 2% on Binance only, but across all exchanges, it would require more. However, the mechanism is that if one exchange's price drops, other exchanges will have market makers selling at the same price. Continue to observe this case to see what happens.
