Crypto Giants Under Scrutiny as Bitcoin, Ethereum, and Dogecoin Prices Face Sharp Declines
Recent price plunges across major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), have sparked widespread concern and allegations of market manipulation. Crypto pundit NoLimit recently took to X, shedding light on peculiar trading patterns that suggest coordinated activity rather than organic market forces, urging investors to remain vigilant.
Market Manipulation Allegations Rock Crypto Prices
NoLimit specifically pointed to a noticeable divergence in exchange behavior influencing Bitcoin's recent downtrend. He reported that Binance exhibited a massive spike in Cumulative Volume Delta (CVD) indicating significant buying, while simultaneously, Coinbase's CVD plummeted, signaling a large-scale dumping of BTC. This synchronized, non-retail driven activity, according to NoLimit, strongly suggests market manipulation, directly leading to sharp declines in Bitcoin, and subsequently, mirroring drops in Ethereum and Dogecoin prices. The pundit highlighted that such "instantaneous" price reactions—dropping, then a brief push to highs like $94,000, only to immediately fall again—are characteristic of engineered market movements designed to liquidate positions.
Echoes of Concern from Other Analysts
The sentiment of market manipulation is not isolated. Fellow crypto pundit Vivek independently observed similar patterns, noting that Bitcoin has "round-tripped" three times from $94,000 to $88,000 within days. This volatile movement resulted in over $200 million in liquidations for both long and short positions, which Vivek explicitly labeled as "clear market manipulation" aimed at wiping out leveraged traders. Adding to these claims, analyst Bull Theory accused Wall Street firm Jane Street of manipulating Bitcoin's price. Bull Theory noted a recurring pattern where BTC, ETH, and DOGE often experience declines at the market open before recovering, suggesting Jane Street might be strategically driving prices down to accumulate assets at lower costs. Both analysts underscore the unusual nature of these market dynamics, urging participants to pay close attention as further significant movements are anticipated.
