Bitcoin has maintained a narrow trading range between $84,000 and $87,500 since mid-March, defying expectations of heightened volatility. Analysts attribute this stability to suspected market manipulation by large-scale investors, commonly known as whales. Blockchain data reveals increased whale transactions, including transfers of 3,000 BTC between anonymous wallets, while the Exchange Whale Ratio surged to 0.6—its highest level since September 2024, signaling growing sell pressure from major holders.
Trading resource Material Indicators identified spoofing tactics on Binance, where whales placed fictitious $89,000 orders to suppress upward momentum. This activity restricted Bitcoin’s price despite brief rallies to $87,500 on March 20. Crypto trader Daan Crypto Trades emphasized the importance of holding the $84,000 support level, warning that a breach could trigger a cascading sell-off as automated trades react to downward shifts.
Jan3 CEO Samson Mow previously theorized prolonged consolidation reflects intentional price suppression, noting that institutional inflows from U.S. spot ETFs have not translated into sustained gains. Critics counter that Bitcoin’s auditable blockchain makes coordinated manipulation unlikely. Joe Consorti of Theya Research argued current dynamics reflect natural profit-taking by long-term holders rather than artificial interference, pointing to historical cycles where early accumulators redistribute assets during price peaks.
While wallets holding over 1,000 BTC continue growing—a sign of institutional confidence—the concentration of whale activity raises concerns. Analysts warn sudden large-scale sell orders could destabilize the market, though Bitcoin has thus far absorbed FTX creditor repayments and other macro pressures. Traders remain divided on short-term direction, with technical indicators suggesting a decisive break above $85,000 or below $80,000 could determine the next trend.
Sources:
https://www.ainvest.com/news/bitcoin-price-stagnates-volume-whale-activity-rises-2503/
https://www.ainvest.com/news/bitcoin-price-capped-87-500-whale-manipulation-binance-2503
https://bitbo.io/news/samson-mow-bitcoin-manipulated/
https://www.ainvest.com/news/bitcoin-faces-downward-pressure-whale-activity-surges-60-2503
https://cointelegraph.com/news/what-are-bitcoin-whales-and-how-to-spot-them
https://www.mitrade.com/insights/news/live-news/article-3-657723-20250224
