A vertical and unexpected move pushed Bitcoin from 91,000 to 94,000 dollars in just two hours, immediately setting off alarms regarding potential Bitcoin price manipulation within the sector. Researcher DeFiTracer was among the first to point out anomalies, revealing that market maker Wintermute bought 68 million dollars within a sixty-minute span, apparently acting without any fundamental news to justify such aggressive buying at that specific moment.
On the other hand, on-chain data suggests that this action was not isolated, as other major ecosystem players participated actively. Analysts like DefiWimar observed coordinated buying patterns across major platforms, including massive volumes on Coinbase, BitMEX, and Binance, reinforcing the theory of an orchestrated action. During this brief period of high volatility, the market suffered a brutal shakeout that resulted in the liquidation of over 130 million dollars in leveraged positions, affecting both bulls and bears in a classic market sweep scenario.
Likewise, the breakdown of figures paints a bleak picture for unsuspecting traders, as 70 million dollars in long positions were wiped out along with nearly 61 million in shorts. This phenomenon, described by experts like NoLimitGains, fits the pattern of “liquidity hunting,” where whales push the price toward predictable levels to trigger stop-loss orders and forced liquidations. In this way, they manage to generate the necessary counterparty for their own trades, taking advantage of the liquidity that retail investors and smaller institutions leave exposed in the order book.
Are We Facing a Liquidity Hunting Strategy Designed to Trap Traders?
The absence of an obvious media catalyst has been the main argument for those denouncing that Bitcoin price manipulation was the driver of the rise. However, not all observers agree with this pessimistic view, as some point to underlying macroeconomic factors. Analyst Darkfost highlighted that the release of US JOLTS employment data, which beat forecasts, could have acted as a legitimate driver just before the FOMC meeting, offering fundamental relief to risk assets.
Nevertheless, the structure of the move continues to generate distrust among veteran operators. The lack of follow-through after the initial peak and the rapid retracement toward 92,500 dollars suggest that the momentum lacked sustained organic demand, a typical characteristic of market traps. If the price fails to reclaim and hold the 94,000 dollar zone with real volume, we are likely to see a deeper correction, as manipulated markets tend to quickly give back gains obtained artificially.
Finally, the cryptocurrency market remains tense awaiting clear definitions. While traders evaluate whether the rally was a genuine opportunity or a trap, attention is now focused on the FOMC meeting, which could validate or debunk bullish expectations. In the short term, caution is imperative, as extreme volatility could persist in upcoming sessions while these unusual capital movements are digested.
