Binance Faces $800M, 12,000 BTC Sell Wall Amid Market Speculation

A significant sell wall of 12,000 Bitcoin, valued at approximately $750 million, was observed on the Binance exchange, with orders placed between $61,200 and $62,500. Market analysts suggest these could be spoof orders intended to suppress Bitcoin prices following a supply shock. The sell wall, initially thought to be a strategy to defend short positions, has reportedly vanished, raising speculation about its purpose, possibly to protect options positions. CoinGlass reported on this development, noting the sell wall's valuation at $800 million.