Bitcoin’s price experiences suppression below $90,000, attributed to whale trading and retail ETF participation. As institutional tracking shifts, traditional onchain metrics fail to capture retail engagement, emphasizing the complexity of current market conditions.

On March 20, the price of Bitcoin (BTC) hovered around $84,000, influenced by market dynamics including price suppression from large-volume traders and shifting retail flows. Notably, Bitcoin briefly reached local highs of $87,500 before encountering significant resistance, primarily attributed to a trading entity dubbed ‘Spoofy the Whale.’

In conclusion, Bitcoin’s price remains capped below $90,000 due to deliberate price suppression tactics by major traders, combined with a notable shift in retail participation towards exchange-traded funds (ETFs). The situation illustrates how market dynamics evolve, with retail investors increasingly bypassing traditional wallets for ETF investments, complicating the landscape for assessing true retail activity.

Original Source: www.thecoinrepublic.com

Related posts:

Bitcoin’s Price Decline Linked to Trump’s Trade War Announcements Bitcoin Surpasses $100K: Options Market Rebounds Amid MicroStrategy’s Acquisition Strategy Bitcoin and Cryptocurrency Stocks Decline Amidst New Trade Tariffs SNXCrypto Analysts Forecast Bitcoin’s Rise Toward $200,000 Amid Market Growth