Bid side is not looking too strong.
Order book is exact same as it was before this whale (s) came in and bought over 1200BTC in two big mammoth orders. One 600 BTC market order, which took the price from $640 to $660, and then a 750BTC order placed at $665, which was eaten up by sellers. Presuming that there is nothing nefarious going down here like the exchanges having been hacked, then perhaps this was a very ill-advised and totally botched ramp attempt? Ramp the price with a 600 BTC market order, and then have a 750 BTC limit order sitting just below spot. A few days ago, this would have instigated a mad panic buying spree. But spot price just hovered above the buy wall, and then sellers ate it up.
Who knows, would be nice to get explanations somehow for these totally inexplicable and wholly unpredictable events.
Insider Short Squeeze from the nice lads at Bitfinex?
Whats odd is that the wall got eaten so quick, as if Mr Whale Bear was sitting as his computer waiting.
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