How the original article from yesterday was called: link
How they make it sound
Pure bullshit by “The Block”.
So here the theory; market makers analysis bots read the headline and interpreted it as a rejection. Therefore they pulled their Spot bid orders.
This made the order book real thin in addition to only having a large liquidity cluster below 41k.
With all the futures liquidations and missing liquidity it was easy to drop by 10% in minutes.#BTC #XAI #PEOPLE #ARB #ETH $BTC $ETH $BNB