Trading

Bitcoin

Somebody had limit orders in place to buy more $BTC automatically when prices hit lower levels is my bet. Whoever that was made a killing. Did some foolish whale sell in lots of 10 BTC with market orders and get absolutely raped?

https://cointelegraph.com/news/bitmex-whale-tanks-bitcoin-price

Never, ever use market orders. Always look at the bid/ask spread and the size of those bids and asks. If your trading platform doesn’t provide this information or order types then find one that does.

It’s a terrible market that doesn’t have the liquidity to execute market orders anywhere close to the actual spot