GateUser-992fc9fa

The market was quite interesting today. Rumor has it that an address transferred out 2,000 $BTC ‌ ‌ into circulation, and although the BTC price didn’t get smashed all the way down, it slowly recovered after bottoming out.
Many people are puzzled: with such a large amount of sell pressure, why couldn’t it knock the market down? In fact, once you break down the logic, it’s pretty clear.
First, there’s the question of scale. 2,000 BTC, based on the current price, is only roughly $120 million+ in value. Placed in today’s market depth, this really isn’t an extraordinary level of sell pressure. Es