Bitcoin’s price has remained confined to a narrow range between $82,000 and $88,000 over the past week, with traders closely monitoring whale activity amid allegations of market manipulation. As of Saturday, Bitcoin trades at $86,480, reflecting a 0.32% decline in the past 12 hours. Technical analysis shows the cryptocurrency is pinned below the critical 50-day moving average resistance at $92,321, while the $82,000 support level remains a key psychological threshold for buyers. Analysts attribute this stagnation to weakening demand fueled by macroeconomic uncertainty, including trade tensions from recent U.S. policy moves.
The price consolidation coincides with revelations from blockchain investigator ZachXBT, who exposed suspicious activities tied to crypto whales. On March 18, ZachXBT identified a Hyperliquid whale allegedly using stolen funds from phishing scams and online casinos to execute high-leverage Bitcoin shorts. The same whale, operating under the alias “MELANIA,” reportedly dodged liquidation during a coordinated attack by traders, closing a $332 million short position for a $9 million profit. Separately, another whale was accused of manipulating Bitcoin’s price through spoofing tactics—placing large phantom orders to create artificial market demand before executing strategic trades.
While whales face growing scrutiny, on-chain data reveals a notable shift in behavior among long-term holders. After a month of net selling, Bitcoin whale balances have turned positive, rising 0.7% in the past 30 days to 3.4 million BTC. Analysts suggest this accumulation phase could signal brewing volatility, with WhaleAlert data showing increased transfers to custodial wallets. Historically, such shifts have preceded price breakouts, though analysts caution that macroeconomic headwinds could suppress upward momentum.
Traders remain divided on Bitcoin’s near-term trajectory. Technical indicators show neutral readings, with the Money Flow Index at 49.06 and Bitcoin hovering near the lower Bollinger Band—a sign of latent volatility. While sustained whale buying could propel Bitcoin toward $90,000, failure to breach key resistance levels may extend the current consolidation.
Sources:
https://coinstats.app/news/0abd1cf65322967bc548c6718bd8198dae0cbdfe32ddb96db437fe59fb58e503_Explosive-Crypto-Accusations:-ZachXBT-Exposes-Hyperliquid-Whale-in-Suspicious-Transactions/
https://cointelegraph.com/news/why-is-bitcoin-price-stuck
https://www.visionfactory.org/post/market-manipulation-in-cryptocurrencies-whales-schemes-and-tactics
https://www.bitget.com/news/detail/12560604628383
https://cryptobriefing.com/crypto-whale-crime-bitcoin-short/
