Cryptocurrency exchanges, which have been very active lately, hosted a very big event a few days ago. Yes, Bitcoin (BTC) price reach a record level we talk about. BTC, which has never seen these levels before, $69,170 reached this level and wrote history. However, in the following period there was a very sharp decline. BTC, which fell to $59,300 within hours, is now $66,000 is trading at levels.

While BTC has seen such a rise? Why did it suddenly fall?? What mechanism worked behind this? In this news we will talk about how BTC, which renewed the ATH (all time high), fell very quickly. At the end of our news we will also tell you an exemplary fact.

Sales orders caused the decline!

*Screenshot taken from Binance Exchange.

To increase the price of any asset traded on the stock exchange, buyer side It must carry more weight. Otherwise, price drops may occur. This is exactly what caused the BTC price to drop sharply. Investors holding a large amount of BTC, 330 for $69,000, 114 for $69,500, 504 BTC for $70,000 They entered a sales order. Since no buyers could be found to fulfill these sell orders, the BTC price fell. Of course, with the onset of decline panic selling finished and this caused the decline to deepen.

Leveraged trades worth $1.1 billion were liquidated (liq)!

In a warning news that we recently shared with you, we wonder why we as an investor utilized from transactions Because you have to stay away we mentioned. Here’s a development that showed how right we were, on the day BTC first broke the record and then fell sharply. Just when hard movements are taking place in BTC $1.1 billion The leveraged transaction was liquidated (liq). $870 million of this amount consisted of users who thought the increase would continue and opened “long” trades.

*This content should not be considered investment advice.