Whales Trap Price of Bitcoin Below $90K as Retail Piles in via ETFs
The post Whales Trap Price of Bitcoin Below $90K as Retail Piles in via ETFs appeared on BitcoinEthereumNews.com.
The price of Bitcoin (BTC) traded around $84,000 on March 20, as price suppression tactics and shifting retail flows shaped market conditions. New data suggests large-volume traders are actively limiting BTC’s upside below $90,000, while traditional onchain metrics may no longer reflect actual retail activity. BTC/USD reached local highs of $87,500 this week before encountering a firm rejection. ‘Spoofy the Whale’ Stalls Rally At $87.5K Trading resource Material Indicators flagged aggressive order book movements on Binance as the cause for BTC’s capped momentum. According to the team, “If you are wondering why Bitcoin price hasn’t been able to rally past $87.5K yet, the reason is price suppression from Spoofy the Whale.” BTC/USDT order book liquidity data. Source: Material Indicators/X They highlighted a pattern of shifting ask liquidity blocks placed just above market price—a spoofing tactic historically linked to whales. Order book data shows spoofed resistance now clusters around $89,000. Material Indicators noted that such activity creates an artificial ceiling, preventing organic upside. At the same time, investor class breakdowns reveal only the largest players are distributing while smaller entities remain sidelined. Coinbase Premium Suggests U.S. Accumulation While Binance hosts manipulatory behavior, the return of a Coinbase premium tells a different story. The Coinbase premium index—measuring price differences between Binance and Coinbase—reached its highest level since Feb. 20 after the price of Bitcoin rallied 5% on March 19. CryptoQuant analyst Woominkyu said this trend hints at renewed accumulation by U.S.-based institutions and retail investors. Coinbase premium analysis by Woominkyu. Source: CryptoQuant “Past trends show that when this indicator rises, BTC bull markets tend to continue,” he stated. “High likelihood of an accumulation phase, making it a key moment to monitor BTC’s momentum.” The premium index’s 30-day exponential moving average (EMA) recently crossed above the 100-day EMA, adding technical weight to the…
Filed under: News - @ March 23, 2025 12:22 am