Bitstamp trades combined with miner selling pressure cause ~2% BTC price drop in seconds

posted 4 months ago
On July 10th, Bitcoin's price rapidly dropped ~%2 ($150) due to a sell-off on Bitstamp. Researchers at CoinMetrics said “Today's market drop was led by trade activity on Bitstamp, where Bitcoin's price dropped $150 in seconds, well below the rest of the market.”

The sell-off on Bitstamp coincided with a sudden dump of BTC by miners. ByteTree shows miners sold 558 more BTC than they mined in the last 24 hours. This suggests that miners led the correction of Bitcoin on July 9, possibly trading on Bitstamp.
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