Bitcoin Price Manipulation Claims Debunked by Data

Recent concerns about Bitcoin price manipulation at $95,000 have been thoroughly debunked by new on-chain research. Joe Consorti, Head of Growth at Theya, presents compelling evidence showing natural market behavior rather than artificial suppression.

Understanding the Current Bitcoin Market

Bitcoin’s extended consolidation around $95,000 reflects normal market dynamics. Long-term holders (LTHs) follow predictable patterns. They accumulate at lower prices and distribute at higher levels. This creates a healthy market cycle.

The Role of Long-term Holders

LTHs have shown consistent behavior throughout Bitcoin’s price journey. They accumulated between $15,000 to $25,000. Then sold portions as prices rose. This pattern repeated through several price levels up to the current $95,000 range.

Market Resilience and Technical Outlook

Bitcoin has demonstrated remarkable strength. A recent $1.4 billion Ethereum hack caused only a minor 1.75% dip. This shows Bitcoin’s growing independence from broader crypto market movements.

Technical analysis suggests the current falling wedge pattern will likely resolve by early March. The consolidation period could extend up to 236 days, similar to previous cycles.

Institutional Factors and Market Catalysts

Several key factors could influence Bitcoin’s next move:

• Spot ETF inflows have decreased but remain significant
• President Trump’s working group decision on Strategic Bitcoin Reserve by June
• Changing correlation with global M2 money supply
• Growing role of stablecoins in US Treasury markets

Market Implications

The data suggests Bitcoin’s price action remains healthy. A potential move toward $120,000 appears possible based on technical patterns and market fundamentals. The reduced correlation with other crypto assets indicates Bitcoin’s maturing market structure.

Tags: Bitcoin Price, Market Analysis, Cryptocurrency Trading, Price Manipulation, Technical Analysis

Source: NewsbtC