A major MTC transaction may have caused a sellout on September 24th and a drop in Bitcoin prices below $ 8,000.
Analysts came to this conclusionmonitoring resource Byte Tree, having analyzed data for the last 24 hours of trading activity, when the first cryptocurrency fell by 12% in just a few hours.
According to the findings of Byte Tree, the collapse triggered a deal worth $ 1.2 billion between two unknown addresses. The magnitude of the transaction triggered a panicky sales session.
Given the stability of the market in recent months and the bullish sentiment of analysts, researchers suspect that they are dealing with a well-organized dump in the market.
By this morning, the market stopped declining, and the price of BTC began to recover gradually.
Many traders are still worried about the short-term prospects of bitcoin, believing that it will take at least a month to restore the market.
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