2 min read
Bitcoin (BTC) struggled to break above $90,000 as recent analysis suggests that a single trading entity is suppressing its price. Data from Material Indicators shows this entity may be using a liquidity herding strategy to keep BTC lower, potentially influencing market behavior ahead of Friday’s options expiry. BTC/USD lingered around $84,558, with key support forming between $85,000 and $87,500 the threshold analysts warn could lead to a “gateway to Bearadise” if breached.
Bitcoin has been trading in a narrow range, failing to match the gains of stocks and precious metals. Analysts point out that large-volume whales often use order-book liquidity to manipulate short-term price action, creating traps for less experienced traders. Keith Alan, cofounder of Material Indicators, said:
“$BTC price is being suppressed by one entity using a liquidity herding strategy to push price lower, potentially to get their own bids filled, or to keep price pinned before options expiry.”
Pseudonymous trader CW also highlighted $86,000 as a “buying wall” provided by whales, noting that volatility is likely to increase as the gap between buy and sell walls narrows.
Wyckoff analysis by commentators like MartyParty suggests Bitcoin could dip below $80,000 by the end of the month. This would act as a “spring” event before a possible market turnaround, marking the long-term low in BTC/USD.
“A significant amount of bid liquidity is concentrating in the $85k – $87.5k range to strengthen support and potentially provide a foundation for a bounce before the Monthly Close,” Alan added.
