What is Driving Bitcoin’s Price in December: Market Dynamics or Manipulation
Analysts suggest Bitcoin's recent price weakness and irrational behavior may stem from market manipulation rather than pure market dynamics.Summary
Despite positive news, such as MicroStrategy's large BTC purchase, Bitcoin has continued to show weakness in Q4, leading traders to suspect manipulation over normal market dynamics. Analysts like Ash Crypto note that the asset dumps on both good and bad news, pointing to persistent weakness inconsistent with a normal correction, especially since the October crash saw US equities rise while Bitcoin lagged significantly. Further evidence suggests coordinated activity, including sharp price swings during low-liquidity weekends designed to liquidate both long and short positions. A specific pattern involves sharp declines around 10 a.m. EST when US markets open, leading some analysts, like Bull Theory, to suspect high-frequency trading firms such as Jane Street, which holds significant positions in Bitcoin ETFs, are executing coordinated dumps to accumulate BTC before an eventual recovery.
(Source：BeInCrypto)