Bitcoin continues to hold steady near $87,500 despite growing evidence of coordinated manipulation by large-scale traders, commonly known as whales. Analysts attribute this stability to a complex interplay of market dynamics, with whales allegedly suppressing upward momentum while institutional accumulation provides underlying support.
Recent data from Binance’s order books reveals concentrated liquidity walls at $89,000, a tactic where whales place large sell orders to artificially cap Bitcoin’s price. Material Indicators, a trading analytics firm, identified these patterns as spoofing—a strategy involving non-executable orders meant to mislead traders. Despite these efforts, Bitcoin has maintained $80,000 as a support level since mid-March, buoyed by broader institutional demand.
Prominent trader Daan Crypto Trades emphasized the importance of the $84,000–$85,000 range, noting that holding this zone could signal bullish momentum. However, failure to consolidate above this threshold might lead to retests of lower liquidity clusters. Meanwhile, Bitcoin whales have accumulated over 1 million BTC since November 2024, according to on-chain data, signaling long-term confidence even amid short-term volatility. These new wallets, each holding at least 1,000 BTC, suggest institutional or ultra-high-net-worth investors are positioning for potential price surges beyond $150,000.
The market’s resilience contrasts with historical precedents. In 2017, researchers alleged that a single whale manipulated Bitcoin’s price via Tether transactions on Bitfinex, though experts debated the validity of these claims. Today, critics argue that concentrated whale activity undermines market fairness, while proponents highlight improved liquidity and reduced volatility compared to earlier cycles.
As Bitcoin balances whale-induced pressure and institutional accumulation, traders remain watchful of technical indicators. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest neutral-to-bearish short-term momentum, though sustained buying at key levels could shift sentiment.
Sources:
https://www.ainvest.com/news/bitcoin-price-capped-87-500-whale-manipulation-binance-2503
https://paxful.com/university/en/what-is-a-bitcoin-whale
https://www.ainvest.com/news/bitcoin-whales-accumulate-1-million-btc-signaling-market-confidence-2503
