Largest ever sell order of 10-14k BTC has just been absorbed by the market like it’s nothing

According to Colin Wu on Twitter, between 10 and 11 o’clock in the morning today, the trading volume of the BTC/USDT trading pair on OKEX released a huge volume of more than 10,000 BTC.

There is a view that it seems that there was a pending sell order of about 14,000 BTC in the BTC/USDT trading pair on OKEX, but it was subsequently eaten by the buy order.

For what it’s worth, I’ve read the theories that this could have been: a) Chinese going for a largest ever BTC garage sale after their recent blanket ban; b) swap for tax purposes; c) Tether/Bitfinex dumping BTC in order to buy USDT themselves and restore the failed 1:1 peg; d) [insert your random pick].

What I do know that the market absorbing the single largest BTC sell ever without even a wick on the chart is bullish AF – immense demand/support for the asset.