Probably someone or a group of whales made huge long (buy) orders, wiping off the sell orders in the orderbook to up to 48K. I don't think it's manipulation.
A group of whales made long orders? Do you really think so? Then they should be in loss right now because price is 10K lower. This is pure manipulation from the Binance and it's sad that no one is responsible for this crime/rob.
You can call it manipulation or anything you want, but that's how charts reflect what went on in the order books. Look at the buy volume below the chart, It was way higher during that time than the hours before or after. Do you think that just magically appears on the chart?
A smart trader can't lose if they closed the positions when the wick formation started. The foolish traders who joined the ride and bought at the tip lost.
When huge orders are made, there's a cascade of events that are triggered. Stop losses, Take profit orders get executed leading to an abnormal price spike in a short time.
Okay, see this too. I hugely doubt any group of whales would buy 1 GBP for 1.80 USDT, there was a 36% change that day and consider that you can trade here with 5x leverage, so, in any way, those who used 4x or 5x leverage of their capital, would get liquidated.
Same explanation as above
