BTC has fallen 25% in recent days. This decline may be caused by Bitfinex.

According to TokenGazer data analysis, as of 17:00 on July 15th, the market value of Bitcoin accounted for 65.82% of the cryptocurrency. In the morning, Bitcoin fell below the $10,000 integer mark and has fallen 25% from its July 10 high. In recent days, bitcoin futures have fallen more, and the premium for the spot price of the BBC quarterly 0927 contract has dropped from $500 to more than $100. From the exchange data, UTC on July 14th 9:00-10:00, 15:00-16:00, 23:00-24:00 three times, the volume of the three exchanges are very large This is also the three hours that have fallen the most throughout the day.

The active sell orders on Bitfinex exceeded the maximum bid; from 10:00-11:00, the bitcoin price dropped more, Bitfinex sold twice as much as the buy order, and Bitstamp and Coinbase sold just slightly more than the buy order. At 9:00-11:00, Bitfinex had a lot of big sell orders, and the other two exchanges did not observe this. Therefore, this decline is more likely to be initiated on Bitfinex.

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