Bitcoin Price Update

Although Bitcoin (BTC) rose slightly due to positive news from the US, this increase is short-lived, as BTC struggles to exceed a certain level in rising waves.

Recently, trading platform Material Indicators provided its latest market assessment, stating that Bitcoin has failed to surpass $87,500 and remains stuck within a specific range.

According to Material Indicators analysts, the price increase is hindered by whales, or large-volume trading organizations, who have been manipulating the market.

The Bitcoin price has been capped at $87,500 due to these whales’ manipulative activities. They are using a tactic called “Spoofy the Whale,” also known as spoofing, on the Binance trading platform.

This tactic involves whales manipulating liquidity above the current price to keep Bitcoin within a certain range. Analysts noted that large sell orders were strategically placed by whales to prevent a rally.

Material Indicators stated, “If you’re wondering why Bitcoin hasn’t broken above $87,500 yet, it’s because of price suppression by Spoofy the Whale.” They also added that the $76,000 support seen in recent months is not a solid base for future growth.

> This is not investment advice.