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Bitcoin: is the market being shamelessly manipulated?



The Bitcoin course has had an incredible crash. Bitcoin fell from $ 57,000 to $ 47,000 in half a day. This exceeded the worst predictions. What triggered this incredible downward trend? A manipulation of Bitcoin does not seem unlikely.

Bitcoin course crash - unnatural crash

The Bitcoin course crash last night took place in 3 phases: 

  • From nearly $ 57,000 there was a rapid drop in the rate to $ 53,000
  • Within a few hours, the Bitcoin price fell slightly further to $ 52,000.
  • A massive price crash within a short time brought the price below $ 45,000 and this immediately rose again to $ 47,000.

The two extreme price falls at the beginning and at the end of the short drop are extremely noticeable. The second crash, in particular, showed a loss of over $ 7,000, over 10% within an hour.

Manipulation in the market?

The developments in the periods mentioned look anything but natural. Within an hour, $ 1.79 billion in long positions were liquidated. It can be assumed that large Bitcoin addresses, primarily institutional investors, gave up their positions in order to reopen cheap Bitcoin positions in the future.

It is interesting to see that the stock market in the US has been extremely weak for days. Above all, the poor labor market figures have led to a decline. The weak stock market now has a strong impact on the crypto market and the Bitcoin price, as the same players are now operating on both markets.

What does this mean for the Bitcoin course in the future?

Short term market manipulation is just that - short term. They are supposed to chase the weak and impatient out of the market and give the big whales the opportunity to accumulate more Bitcoins cheaply. Despite the big dip, the market direction remains bullish when we look at 2021 as a whole.

The good news is that such extreme crashes become less likely with each occurrence. For example, “aggregated funding”, a key figure for the amount of positions held by a single trader or a group of traders, fell for the first time in 2 months. This means that positions are distributed again and strengthened, which reduces the likelihood of such massive crashes in the Bitcoin price through coordinated sales.

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