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Bitcoin price manipulation
There’s reason to assume the Bitcoin price is being manipulated.
The pattern is too consistent to ignore if you look at the charts: a clean wipeout within an hour of US market opening, followed by a slow recovery.
That’s classic high frequency execution. Accounts like zerohedge have pointed towards Jane Street being the most likely entity doing this.
Jane Street is one of the largest high frequency trading firms worldwide. They have the speed and liquidity to move markets for a few moments.
Game plan:
- dump BTC at the open
- push price into liquidity pockets
- re enter at a lower price
- repeat daily
By doing this, they have accumulated $2.5 billion in Blackrock’s IBIT ETF.
👉🏼 This means most of the dump in BTC isn’t due to macro weakness but due to manipulation by one major entity.
👉🏼 Once these big players are done buying, BTC will continue its upward momentum.