The market experienced a sudden spike and subsequent drop in prices, often referred to as a whale trap. This tactic is typically executed by large investors, or whales, who have the power to influence the market with their substantial capital. Here’s how this strategy usually unfolds:

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First, the whales initiate a surge by purchasing a large quantity of a particular cryptocurrency, causing its value to increase rapidly. This upward movement creates a sense of urgency among retail traders who, driven by the fear of missing out, start buying in as well. Once the price reaches a peak, the whales begin offloading their holdings at the inflated value, leading to a sharp decline in the price. This sudden downturn leaves late buyers at a loss, while the whales profit from the volatility they’ve engineered.

Whale traps are a deliberate exploitation of market dynamics, preying on the emotions and reactions of smaller investors to create lucrative opportunities for those with the power to move the market.

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