Bitcoin Price Remains Trapped Below $85,000 as Whales Manipulate Market

Bitcoin's price struggles to break the $85,000 ceiling, with evidence suggesting that market whales might be manipulating recent price actions. On-chain data indicates persistent spoofing, where large-volume sell orders are placed just below recent price highs to control upward momentum, notably at $87,500. This behavior continues to raise concerns, especially as it feels coordinated to keep BTC in a tight range. Pseudonymous traders like Ted and UFO Calls highlight a potential for a significant breakout past $92,000, which could break this manipulation, though other analysts like Peter Brandt warn of risks leading to a possible downside to $65,635. The influence of macroeconomic factors, like the decline in global money supply, cannot be overlooked and may mitigate bullish outlooks. The market remains volatile, making it difficult for traders to forecast near-term moves confidently. Diverging paths for Bitcoin suggest possible breakouts to $109,000 or corrections to $65,000. Consequently, the focus remains on how whales and external economic pressures shape Bitcoin's trajectory. This article emphasizes the speculative nature of the predictions and advises caution.