Hello HODLers!

In a surprising turn of events, crypto trader Vladimir Cohen has raised concerns that the recent drop in Bitcoin's price could be linked to the actions of market makers connected to Telegram founder Pavel Durov. According to Cohen, the decline in Bitcoin’s value on the night of August 28 was likely triggered by an unknown major player in the market. However, the identity of this player remains unclear, leaving the crypto community puzzled.

Cohen highlights another intriguing detail: to maintain stability in the TON (The Open Network) ecosystem and its associated tokens, Durov might have sold at least 10,000 bitcoins to prevent the token's price from falling below $5. This sale would have been a strategic move to protect the TON ecosystem, but it may have inadvertently impacted the broader cryptocurrency market.

The analyst suggests that market makers tied to Durov hold significant amounts of Bitcoin and could potentially manipulate the asset's price dynamics. This connection, if true, raises questions about the level of influence these market makers have on the crypto market, especially during times of volatility.

Cohen further emphasizes that the negative developments surrounding Durov have had a broader impact on the entire cryptocurrency market, not just Bitcoin. The ripple effect of these actions has contributed to a general sense of uncertainty and instability within the crypto space.

In addition, Cohen points out current market trends, noting that on major trading platforms, buy orders for Bitcoin are concentrated in the $58,000-$60,000 range. This area appears to be a crucial support zone for Bitcoin’s price, helping it avoid further declines despite the turmoil.

Overall, Cohen's analysis paints a picture of a market influenced by high-stakes moves from powerful, potentially interconnected players. The suggestion that Telegram’s founder could be indirectly affecting Bitcoin’s price through his actions adds a layer of intrigue and concern for traders and investors, highlighting the complex dynamics at play in the world of cryptocurrencies.

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