All crypto market dropped for last 24 hours.
Many crypto individual investors and traders may feel very scared and wonder if a real bear market has now begun.
And a large amount of leveraged long positions have been liquidated. This sudden downturn has wiped out billions in market value, leaving many to question the stability of the crypto market.
As I already mentioned several times in previous posts, these price actions may be planned precisely by Market Makers, whales and CEXs.
Just based on the strategy and available funds, each market painter or drawer chooses different actions. Wintermute, Jump Trading and all other market makers and CEXs may have their own strategy to maximize profit through market manipulation or market control.
Wintermute Wallet #1 shows transactions with CEXs
Through recent market fall, Binance swept many SOL at $205, and ETH and BTC at lower price levels.
Binance had transferred over $30M to Wintermute to nuke solana market. During the last night market chaos, Binance got the cheap Solana.
I doubt that Binance started to involve more strongly in this market manipulation right after CZ's release from several months in prison.
Market decline may continue for several months or not. And for this bear market, continuous market manipulation will happen as many CEXs and market makers will try to liquidate leveraged positions selling at higher prices and buying again at lower prices.
These market manipulations can be particularly damaging to inexperienced traders who may panic sell during downturns, playing right into the hands of larger market players.
It may be better to minimize leveraged positions and buy major high potential coins as DCA. Please avoid the big scam, XRP that maybe a big headache in crypto industry.
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