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Bitcoin Whales Dance to New Heights: BTC Price Surges to 19-Month High!






Bitcoin Rebounds Above $42,000 Amid Market Manipulation Concerns

Bitcoin Rebounds Above $42,000 Amid Market Manipulation Concerns

On December 5, Bitcoin (BTC) made a comeback above $42,000, but analysis suggests that the market might be manipulated. Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD reached highs of $42,498 on Bitstamp, surpassing the previous 19-month peak. However, concerns about the sustainability of the rally arose due to the behavior of large-volume traders, or whales.

In a thread on X (formerly Twitter), trading resource Material Indicators explained that these traders might be intentionally coordinating higher prices to sell into an uptrend with minimal slippage. They noted that the higher the liquidity near the intended selling point, the better value a major sell-off would bring. Material Indicators referred to the current order book action as a “strategically choreographed distribution game.”

While a return to $38,500 was deemed unlikely, the analysis suggested that new blocks of bid liquidity, including one at $41,500, were not “organic.”

Despite concerns about market manipulation, market commentators remain optimistic about Bitcoin’s short-term price. Popular trader Daan Crypto Trades observed declining open interest during the consolidation phase, indicating some longs taking profit. Analyst Scott Melker pointed out that Bitcoin consistently breaks above “bearish” ascending patterns in a bull market, and the current pattern is being retested as support. Additionally, social media commentator Moustache sees no reason for the current bull market to differ from previous ones, predicting that Bitcoin could reach $48,000 and potentially even $60,000 in the near future.

It’s important to note that this article does not provide investment advice or recommendations. Readers should conduct their own research before making any investment or trading decisions.



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