😏 Major conspiracy — Binance, Coinbase & Winermute.
Friends, remember the idea: there are no accidents in the crypto market. Especially when the biggest players start moving volumes a day before the global dump.
What happened?
1️⃣ According to Arkham Intelligence, on February 3, just hours before the market crash, Coinbase sent $11.86 million in ETH to Wintermute's Binance addresses - one of the largest market makers.
2️⃣ Binance also transferred several million dollars to Wintermute at the same time.
3️⃣ But the most interesting thing is Ethereum's sleeping whale, which moved 77,736 ETH ($228.6M) onto Bitfinex (the oldest cryptocurrency exchange) for the first time since January 2019 - and exactly after that, the market plummeted.
🔤 Why exactly was ETH under attack?
It's simple: Ethereum is a key liquidation point for the entire DeFi sector. Its fall automatically triggers a chain reaction of liquidations on DeFi lending platforms, destroys margin positions, which pulls the whole market down.
The conclusion is that this is not just a dump — it's a controlled liquidation designed to knock out positions before the next leg of the move.
❕ Manipulation? Coincidence? It's up to you to decide. But while the market is recovering, the main players are already gaining new positions. Let's keep an eye on the continuation of their game.
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