Binance $61,200~$62,500 Zone Sees $750 Million BTC Sell Wall
CryptoNewsTerminal Staff09 Aug, 2024
Binance $61,200~$62,500 Zone Sees $750 Million BTC Sell Wall
Someone just placed a fat 12,000 BTC sell order on Binance BTC/USDT perpetual futures market. That's over $750 million worth of sell orders. This development has led to speculation that the price of Bitcoin could soon drop. However, it is important to note that sell walls can be faked and can be run through. In the meantime, the Binance order book currently has less than $300 million in bids below the price and $750 million in asks above. This could lead to a temporary period of reduced volatility.
