Since early morning, there have been mentions of borrowing whales starting to repurchase.
Later, I began to see the price bottoming out at three o'clock in the morning and starting to rise, and now, the borrowing whales have repurchased about two million PI in total.
This is a deliberate suppression of acquisitions because the borrowing whales are the same ones that started the large-scale accumulation on August 24, which caused the price to rise to nearly 0.4 on August 30.
Subsequently, they intentionally lowered the price using BTC to acquire PI at a lower holding cost, as the spot and contract prices on the exchange used by the borrowing whales were both equal at 0.18, completely 100% exchanging their holdings. The borrowing whales have successfully reduced their cost from 0.35 to 0.2.
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