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So how do we know that some whale or whales weren't planning on buying 50K coins or more on the open market and instead are buying them at auction? In other words, How do we know that this sale isn't already priced into the market? It's not like this auction is a surprise or anything.
If it ain't, then why is it still in the talks and making people think they will see some hikes because of this?
Everyone's talking about the roller-coasters, I think we should let them talk and the naked price action will speak soon.
You are true, there's actually nothing surprising as there are exchanges where whales can buy those many coins without just going for an auction and harm their anonymity...
At best there is a small risk reduction after the auction is finished, the fiat paid and everyone is happy. That means, after the completion, sell the news. But sell what? Bitcoin or dollars?
Anyone putting up this kind of capital is a serious invester. No one is going to buy these and dump them right away.
