You may be already aware of the fact that the crypto market fell severely a couple of days ago.

There were massive losses for BTC and altcoins, as we already reported.

The top three digital assets by market cap Bitcoin, Ethereum, and XRP have lost a total of $16.3 billion in market cap in about an hour and a half.

The result was that every coin in the top ten was pushed in the red, and many of them have faced double-digit losses.

BTC whale trades on Bitstamp, blamed for the BTC fall

The latest reports coming from the online publication the Daily Hodl reveal that some Bitcoin whale trades on the crypto exchange Bitstamp is now blamed for the recent BTC fall from  $8,056 to $7,475.

It’s been revealed that almost 400 BTC were traded within four minutes of Bitcoin’s 7% plunge on Wednesday, according to Trustnodes, as cited by the online publication mentioned above.

It’s said that this move might have triggered an effect that pushed the price of BTC lower across all the crypto exchanges.

“124 BTC were sold at 12:41 London time, bringing the price down from $7,900 to $7,700. A small attempt at bouncing back was met with the selloff of 115 bitcoins at 12:42, bringing the price down to $7,600,” according to the online publication.

They continue and write that “Two more selloffs of around 75 BTC each followed at 12:43 and 12:44, so bringing to an end what looks like a very precise operation, bringing the price down by $100 at each minute.”

It’s essential to mention the fact that the derivatives exchange BitMEX bases its index price for BTC on data from Bitstamp and Coinbase.

Big players on Wall Street might have made this move in order to trigger a crypto crash, according to the Daily Hodl. Head over to their original article in order to learn more details.

At the moment of writing this article, the crypto market looks green, and BTC is trading in the green as well. The most important coin out there is priced at
$7,498.21.

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