Crypto NewsBitcoinBitcoin Price Sudden Sharp Drop: Is This the Source of the Drop?

Bitcoin Price Sudden Sharp Drop: Is This the Source of the Drop?

After the sudden decrease in the price of Bitcoin, investors began to investigate the source of the decrease.

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Bitcoin (BTC) plunged sharply today as Jump Trading, possibly one of the world's largest cryptocurrency traders, disposed of large amounts of BTC on various exchanges.

According to the data, Jump Trading has deposited a total of $26.6 million worth of BTC to different exchange deposit addresses in the past hour.

The bulk of the BTC was sent to Binance, the world's largest crypto exchange by trading volume, where Jump Trading deposited $23.7 million worth of BTC. Other exchanges that received Bitcoin from Jump Trading were OKX and Bybit, with BTC worth $2.18 million and $720,000, respectively.

Chart with 15-minute candles showing the recent spike in BTC price.

Jump Trading is a Chicago-based private trading firm specializing in algorithmic and high-frequency trading. The firm is known for its stealthy and aggressive trading strategies and has been active in the crypto space since 2014.

*Not investment advice.

Buradaki Yorumlardan Bildirim Al

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