Summary
Sell-off of 1,000 bitcoins is likely to trigger a significant price drop due to low liquidity in the exchange order book, especially when traders are waiting to enter a short against bitcoin’s all-time high.
Key Points
1. A sell-off of 1,000 bitcoins is highly likely to trigger a significant price drop due to the imbalance in liquidity on the exchange order book.
2. Traders are waiting to enter a short position against bitcoin’s all-time high, which could further exacerbate the price drop.
3. Market analysts, such as Bradley Park from CryptoQuant, are closely monitoring the situation and providing insights on the potential impact of large sell-offs on bitcoin’s price.