The post Whales Suppress BTC Price Below $85K, Traders Eye $92K Breakout appeared on BitcoinEthereumNews.com.

Bitcoin (BTC) price remains trapped below $85,000, with on-chain and technical indicators suggesting whales may be controlling recent price action. Despite recovering from a sharp weekend drop to $81,600, BTC’s upward momentum remains capped amid warnings of spoofing, reduced global liquidity, and looming resistance levels. Spoofy Whale Activity Suppressing BTC Price? Data from Material Indicators co-founder Keith Alan points to persistent spoofing behavior that appears to be manipulating Bitcoin’s order book. Alan flagged large-volume ask orders that have repeatedly halted BTC’s gains near $87,500, while bids laddered down to $78,000 signal a coordinated effort to buy the dip. BTC/USDT order book data for Binance | Source: Keith Alan/X “While I have no real way of confirming it’s the same entity… it certainly appears that Spoofy has been buying this dip,” Alan stated. He added that the suspected whale has used ask liquidity to steer price into its own bids. This type of behaviour—known as spoofing—is not new in crypto, but its scale and persistence have raised eyebrows. $92K Breakout Could Change Everything Pseudonymous trader Ted argued that BTC price currently sits in a Wyckoff re-accumulation phase. He said the recent dip below $85,000 was “pure manipulation” meant to shake out remaining bulls. Source: Ted Pillows/X He added that a move above $92,000 could reverse the tide entirely. “Once BTC goes above $92K, bears will get rekt,” Ted posted on X. This outlook aligns with UFO Calls’ analysis, which shows liquidity clustering above $85,000 on Binance’s liquidation heatmap. The trader suggested a short squeeze may be imminent if BTC climbs above current resistance levels. CME Gaps, S/R Confusion Add Complexity Altcoin Sherpa cautioned that current price levels still act as support, but clarity is lacking. BTC/USD 4-hour price chart | Source: Altcoin Sherpa/X “Everything is pretty ugly on the 1W… best to assume…

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Filed under: News - @ April 1, 2025 2:25 am