What the fck is that?
I'd say somebody got impatient and decided to cash in early.
Not pleasant, but it happens. Keep in mind that not everybody targets over 100% profit even on bitcoin.
If you zoom out it may make more sense.
Even if one has 5K+
BTCs it never makes sense to sell at once losing 7%+ profit. This has been discussed so many times here that it has become a trivial topic.
1. Shorting company manipulating the market.
2. Too many high leverage longs trying to squeeze into 1% increase of the price: at first they are jubilant thinking their chance of getting rich finally has come and then in <1s boom! liquidation (again). So they will try for 1001th time next week.
3. Scaredy-cat daily traders on spot exchange like coinbase, who hastily agree to lose 7% shaken by the fear of losing 10-20% of their last entry price. This game usually ends when their total loss is >90% of their investment throughout a longer period like 1 year.
In the world of finance if someone is making 100x profit by hodling, this always means that at least 100 other unfortunates are making big loss. In the case of
BTC the difference is made by knowledge and willpower that most of the people don't have.
