Bitcoin Drop: Is the Trump Project Waiting for a Sale?

Recent fluctuations in the cryptocurrency markets continue to attract the attention of investors. The recent sharp decline in Bitcoin prices has particularly increased speculation regarding the timing of large transactions. The firm World Liberty Finance is known to be connected with former United States President Donald Trump, and the transactions it carried out in this context have had a significant impact on the markets.

Before the drop in Bitcoin prices, World Liberty Finance sold approximately 5 million dollars worth of Wrapped Bitcoin (WBTC). These transactions occurred just minutes before Bitcoin's price began to decline. On-chain data shows that these wallets executed the sale of WBTC, selling a total of 73 WBTC at around 69,000 dollars and obtaining 5.04 million dollars.

Immediately following the sales, the Bitcoin price decreased rapidly to 66,000 dollars, further complicating the timing of the transactions. According to Arkham and Lookonchain data, the mentioned wallet carried out multiple transactions through the CoW Protocol during this process. Transaction records indicate that WBTC was first converted to USDC, and then those funds were managed on Aave Ethereum.

Just minutes after the sale, the sharp breakdown in the Bitcoin chart raised questions among market participants about whether there was 'prior knowledge.' Binance data also supports this timing; BTC prices gained downward momentum immediately after the sales occurred due to a strong selling candle.

As of now, no statement has been made by World Liberty Finance regarding this matter. However, the clarity of on-chain movements indicates that this transaction may imply more than just a simple portfolio rebalancing, suggesting that further implications could be drawn. Investors are in a period where they need to carefully monitor these developments and potential market effects.