sharp drop followed by a recovery

WHY ..

The market drop was marked by massive sell-offs, but a notable rebound followed the opening of the American market. The main cryptos, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), recorded impressive price increases of 10%, 12%, and 22% respectively. This rebound was partly attributed to the introduction of a Bitcoin ETF in the United States, which generated a trading volume of 1.3 billion dollars in one hour! Reinforcing the confidence of investors and traders.

Despite this recovery, some whales and institutions continued to move large quantities of crypto to Binance. For example, a whale wallet address deposited 19,557 ETH, worth 48.14 million dollars, while Metapha deposited 10,000 ETH, worth 25.5 million dollars. These movements indicate a certain caution among major market players, even though asset managers like BlackRock and Fidelity remain firm in their positions.

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