[The Exiled]

Various sources have reported that this price correction was instigated by a massive $1.5 billion transfer of Bitcoin. With this transfer, a company/entity reportedly deposited around 28,000 Bitcoin into an address belonging to the OKEx cryptocurrency exchange, which has since been deposited into various Bitcoin wallets. In a recent Tweet, Elon Musk stated that the value of Bitcoin and Ethereum "seem high", creating a lot of uncertainty within the market.