Behind this needle just now, there was a hidden battle of 2400 BTC market price smashing .. It's a bit interesting, let me sort it out . If you have followed what I have been promoting in the past two weeks, you should know that there is a giant whale with a spot price of 1300BTC that has been hanging this coin around 60k~61k to place spot orders. Although the placement of the pending order has been modified several times, it has never been successful (Figure 1) I don't know if this is just a blatant protection or if I really want to buy low and long. From a historical perspective, for spot orders of this level, unless they are long-term grid orders of the giant whale that have been stuck at integer levels, there are not many transactions that end up changing their positions so frequently . (If you really want to enter, you can hang TWAP or something to hide your intention, you don't need to be so explicit.) Anyway, this guy has been hanging at 61k for the past few days until this afternoon .. ----------- At around 3:30 pm Beijing time today, this guy suddenly cancelled the hanging order for 61k and changed it to a very aggressive hanging of 64080 below the price at that time. (Figure 2) After the price continued to rise, the pending order was further placed at the more aggressive 64240 around 15:53 This is very unusual. This guy has been patiently hanging up below for more than 2 weeks. Why did he suddenly change to such a radical position today? Is it to force the price down? ------------ Then, the climax arrived After controlling the price of this 1000+BTC spot purchase for over an hour ... (Figure 3) Someone directly smashed nearly 1000+spot items on Binance within 21 seconds .. It seems that they are going to pay for this 1000+ Are you hanging the sign clearly? If you want it, I'll give it to you, and the market price will drop directly .. From the footprint map, it can be seen that this wave of transactions was actually completed, with transactions approaching 950+at that location. It is precisely because of the 1000+buy order hanging there that the 21 second 1000+market price sell order did not cause any waves. The price has not changed much. However, things became interesting next ... Just one minute after these 1000 were smashed, someone else smashed another 1400 BTC sell orders at market price ... 150 hits every 10 seconds, lasting for nearly 2 minutes .. Now, because there are no longer so many large pending orders in the order book, the order book was directly pierced and the needle fell off .... (But there are two waves that cannot be inserted when inserted into 63100, indicating that there is an iceberg receiving at 63100) However, later on, something even more interesting happened ... -------------- The hanging order for this 1300 whale has already been fully executed on it. However, just after the second wave of 1400+BTC sales hit the nail, this 1300 giant whale guy hung up the pending orders again?! (Figure 4) It's hanging at the 63k position, under the previous needle. This is quite interesting ... Let's string together Figures 1 to 4 There can be two scenarios. --------------- A. This 1300 giant whale really wants to be a foodie I haven't been able to hang up on 61k, but today I can't wait anymore. I just hung up on 64k and finally managed to close the deal. It turned out that someone could smash 1400 pieces in 2 waves, but he only ate 1000 pieces and still wanted to continue eating . So I continued to hang on 63k and wanted to continue receiving goods. B. This 1300 giant whale is just trying to spoof... deliberately making it look like I want to be a foodie at that price point, with a sense of acceptance .. Since July 4th, his pending orders have also successfully raised this series of high low Today, someone really smashed 1000 pieces of 64k for him, and he ate them He doesn't want to take this shipment So he would rather smash the received goods at market price So there was the second wave of pins After successfully getting rid of the over 1000 spot items thrown to him by others, he re listed this spot order on 63k ... -------------- A and B actually sound quite unreasonable ... A， There are countless ways for a giant whale to become a foodie, including OTC and TWAP, so there is no need to use this method of placing an order. This clear sign must express a certain viewpoint to the entire market with a purpose. Why did you suddenly raise the pending order today, and why can you still place the same pending order again after 10 minutes ... At the same time, in the spot market, this method of directly smashing 1000+1400 spot stocks in a short period of time is also rare (Only a few times before did the 1011 Whale retaliate and smash the market like this) I don't understand. . What about scenario B? If it were this scenario, the giant whale would suffer a huge loss . 1000BTC， The price we received earlier was 64240, and the average price for shipping at market price later is estimated to be around 63.8k. One in one out is a real loss of 40-50 million U ... Is this really how to operate for the sake of filming? I still don't understand . It's all unreasonable ... -------------- Behind this, is one fund playing with the market, or are two funds secretly competing .. In short, today's market looks quite strange no matter how you look at it .... This will interfere with regular judgment, and I don't know how to write about the market later