'Beware of forced sellers,' says CryptoHayes
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The Oracle of Omaha meant that the risks and vulnerabilities of specific companies are usually exposed during a tide-going-out event. As noted by Hayes, Canada's Purpose Bitcoin ETF liquidated 24,500 Bitcoins on Friday, which represented roughly half of its total holdings. The price of Bitcoin plunged all the way to $17,600 on Saturday, reaching its lowest level since early December 2020. Hayes believes that the brutal sell-off was caused by a forced seller triggering a big cluster of stop-loss orders.
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