Recently, Bitcoin is restricted at $87,500 due to potential manipulation by whales. According to Material Indicators’ analysis, market tactics like spoofing are to blame for its price stability. Traders emphasize maintaining key support levels to ensure upward momentum.

Bitcoin (BTC) is currently experiencing a price cap at $87,500, attributed to potential market manipulation by so-called whales, as indicated by new market analysis. Specifically, the research conducted by trading resource Material Indicators on March 20, emphasizes that BTC/USD’s inability to surpass this price level is influenced by strategic movements of large-volume traders.

The analysis suggests that Bitcoin’s price stagnation is largely due to manipulation by large traders, known as whales, specifically referencing an entity dubbed “Spoofy the Whale.” Traders highlight critical support levels and emphasize the significance of maintaining momentum in the current price range to prevent a detrimental drop. Regardless, this price analysis serves as a reminder of the complex dynamics influencing cryptocurrency markets.

Original Source: cointelegraph.com

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