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Here’s why Bitcoin price can’t go higher than $87.5K

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Bitcoin (BTC) is being capped at $87,500 thanks to manipulation by one or more whales, new analysis says.

The latest market coverage by trading resource Material Indicators on March 20 reveals why BTC/USD is stuck in its current range.

“Spoofy the whale” gets blame for BTC price range

Bitcoin has managed to sustain $80,000 as support for more than a week while hitting two-week highs of $87,500 on March 20. 

Despite following broad volatility across risk assets, BTC/USD may have gone even higher were it not for maneuvers of large-volume trading entities on exchange order books.

Looking at global trading platform Binance, Material Indicators argued that shifting blocks of ask liquidity above price were keeping it pinned in a specific area — a classic manipulatory device known as “spoofing,” which has often been used by whales in the past.

“If you are wondering why Bitcoin price hasn’t been able to rally past $87.5k yet, the reason is price suppression from Spoofy the Whale,” it summarized in a post on X.

BTC/USDT order book liquidity data. Source: Material Indicators/X

An accompanying chart shows that the liquidity in question currently sits at $89,000. It also tracks investor order classes, showing all but the largest “whale” transactions distributing.

Discussing the data, Material Indicators hinted that support at the recent multimonth lows of $76,000 was insufficient as a firm market floor.

Bitcoin bulls keep up battle for key trend lines

Meanwhile, popular trader Daan Crypto Trades said that the current low-timeframe area of interest at $84,000 was essential for bulls going forward.

Related: Bitcoin futures ‘deleveraging’ wipes $10B open interest in 2 weeks

“The bulls would want to hold on to the $84K-$85K region to keep the momentum. Otherwise you’re at risk of visiting those lower liquidity clusters which then can end up in a full retrace as price is still choppy,” part of his own X post explained.

“Local market structure is trying to shift to a small uptrend but the bulls need to step in and keep it that way or it will just be a quick deviation/short stop hunt.”

BTC/USDT liquidation heatmap. Source: Daan Crypto Trades/X

Daan Crypto Trades paid additional attention to the 200-day simple moving average (SMA) and exponential moving average (EMA), key bull market trendlines that bulls are currently in the process of trying to flip to support at around $85,000.

BTC/USD 1-day chart. Source: Daan Crypto Trades/X

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Coin Market

'Bitcoin Macro Index' bear signal puts $110K BTC price return in doubt

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Bitcoin (BTC) risks falling into a fresh bear market as a large collection of BTC price metrics produces a “bearish divergence.”

In a social media discussion on March 27, Bitcoin commentators flagged troubling signals from the Capriole Investments’ Bitcoin Macro Index.

Bitcoin Macro Index slump “not great,” says creator

As BTC/USD struggles to return to the area around all-time highs, onchain metrics are beginning to lose their bull market edge.

The Bitcoin Macro Index, created by Capriole in 2022, uses machine learning to analyze data from a large number of metrics that founder Charles Edwards says “give a strong indication of Bitcoin’s relative value throughout historic cycles.”

“The model only looks at on-chain and macro-market data. Uniquely, price data and technical analysis is not considered as an input in this model,” he explained in an introduction to the tool at the time.

Since late 2023, the metric is printing lower highs while price prints higher highs, creating a “bearish divergence.” While common to previous bull markets, a potential implication is that BTC/USD has already put in a long-term peak.

“Not great,” Edwards reacted while reposting a print of the Index uploaded to X by another user. 

“But… when Bitcoin Macro Index turns positive, I won’t be fighting it.”

Capriole Bitcoin Macro Index. Source: @A_Trade_Academy/X

BTC price metrics struggle to recover

Various analytics sources have concluded that Bitcoin is suffering from macro turbulence this year.

Related: Bitcoin price prediction markets bet BTC won’t go higher than $138K in 2025

In one of its “Quicktake” blog posts this week, onchain analytics platform CryptoQuant referenced four onchain metrics currently in a state of flux.

“All of these metrics suggest that Bitcoin is experiencing significant turbulence in the short to mid-term,” contributor Burak Kesmeci commented.

“However, none of them indicate that Bitcoin has reached an overheated or cycle-top level.”

Bitcoin IFP chart (screenshot). Source: CryptoQuant

The list includes the Market Value to Realized Value (MVRV) and Net Unspent Profit/Loss (NUPL), as well as the so-called Inter-Exchange Flow Pulse (IFP) metric, which flipped bearish in February.

For this to change, Kesmeci concluded, IFP should return above its 90-day simple moving average (SMA).

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Coin Market

Market is underestimating how quickly Bitcoin will hit new ATH: Analyst

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Bitcoin will break past its $109,000 all-time high sooner than expected despite recent volatile US macroeconomic conditions, according to a crypto analyst. 

“The market may be underestimating how quickly Bitcoin could surge – potentially hitting new all-time highs before Q2 is out,” Real Vision chief crypto analyst Jamie Coutts told Cointelegraph. 

He said this forecast stands regardless of whether or not there is more clarity on US President Donald Trump’s tariffs and potential recession concerns.

Trump’s tariffs blamed for Bitcoin’s recent downtrend

Bitcoin (BTC) fell below $100,000 on Feb. 2, with many market participants blaming the downturn on Trump’s newly imposed tariffs and uncertainty over US interest rates. 

Coutts based his rosy rebound prediction on easing financial conditions, a weakening US dollar and the People’s Bank of China ramping up liquidity since early 2025.

“Financial conditions have eased dramatically this month, highlighted by the US dollar’s third-largest three-day decline since 2015 and significant drops in rates and Treasury bond volatility,” he said.

“Liquidity remains central to investing in all asset classes,” he added.

Bitcoin is down 3.16% over the past 30 days. Source: CoinMarketCap

At the time of publication, Bitcoin is trading at $85,880, down 3.16% over the past month, as per CoinMarketCap data.

Coutts referred to his March 7 X post, where he said that based on the US Dollar Index (DXY) recent moves through a “historical lens,” it makes it hard to be “anything but bullish” about Bitcoin.

Based on historical DXY performance, Coutts said that by June 1, Bitcoin’s 90-day forecast ranges from a worst-case price of $102,000 to a best-case scenario of $123,000. 

Source: Jamie Coutts

The upper target would represent a 13% gain over its current all-time high of $109,000, which it reached on Jan. 20.

BlackRock’s head of digital assets, Robbie Mitchnick, recently said that Bitcoin will most likely thrive in a recessionary macro environment.

“I don’t know if we’ll have a recession or not, but a recession would be a big catalyst for Bitcoin,” Mitchnick said in a March 19 interview with Yahoo Finance.

Related: $16.5B in Bitcoin options expire on Friday — Will BTC price soar above $90K?

It comes at the same time that Bitcoin continues to experience its “least bullish conditions” since January 2023, according to CryptoQuant.

CryptoQuant’s Bull Score Index is at 20, its lowest since January 2023, signaling a weak Bitcoin market with low chances of a strong rally soon. 

Based on historical performance, if the score remains below 40 for an extended period, it could signal continued bearish market conditions, similar to previous bear market phases.

Magazine: Arbitrum co-founder skeptical of move to based and native rollups: Steven Goldfeder

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Coffeezilla shouldn’t duck Logan Paul suit over CryptoZoo claims: Judge

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Influencer Logan Paul should be allowed to continue a lawsuit accusing the YouTuber known as “Coffeezilla” of making defamatory remarks about Paul’s failed CryptoZoo project, a Texas magistrate judge said.

In a March 26 report filed in a San Antonio federal court, Magistrate Judge Henry Bemporad recommended that federal Judge Orlando Garcia, overseeing the case, deny Stephen Findeisen’s bid to toss Paul’s lawsuit, as Findeisen presented his claims more akin to facts than “mere opinion.”

“At the pleading stage, Plaintiff [Paul] has sufficiently alleged that the statements at issue in this case are reasonably capable of defamatory meaning and are not unactionable opinions,” Bemporad wrote.

“The Court should reject Defendants’ contention that context renders Findeisen’s statements nondefamatory,” he added.

Paul sued Findeisen in June, claiming one of Findeisen’s X posts and two YouTube videos about his CryptoZoo non-fungible token (NFT) project were malicious and caused reputational damage.

CryptoZoo was pinned as a blockchain game where players buy NFT “eggs” that would hatch into animals that could be bred to create unique animals to earn tokens depending on their rarity. The game is yet to materialize.

An example of a CryptoZoo NFT animal that combines a shark and an elephant. Source: CryptoZoo

Paul claimed Findeisen called him “a serial scammer” and that CryptoZoo was a “scam” and a “massive con,” which Paul denied. 

Findeisen asked the court for an early judgment last month, claiming his statements were made to be taken as opinions and his videos had disclaimers in the description section saying as such.

But Bemporad found that “Findeisen’s three statements meet the legal definition of defamatory” and noted that the disclaimers “are not particularly prominent” and are “visible only when the section is expanded.”

“Even if the disclaimers were more prominently on display, however, they would not materially change the factual nature of Findeisen’s assertions,” he added.

Related: Crypto influencer Ben ‘BitBoy’ Armstrong arrested in Florida 

Paul or Findeisen can object to Bemporad’s report within 14 days. Lawyers for Paul and Findeisen did not immediately respond to requests for comment outside of business hours.

Findeisen also released three videos in 2022 on CryptoZoo, which Paul did not bring defamation accusations against but previously threatened to sue over

He later backtracked, apologized, and in January 2023, promised to come up with a plan for CryptoZoo — which came a year later with Paul earmarking $2.3 million for refunds so long as claimants agreed not to sue over the project.

Meanwhile, a group of CryptoZoo buyers sued Paul and others they accused of being involved in the business in a class-action lawsuit, which Paul has asked to have tossed. He has also filed a counter-suit against two business partners he claimed were to blame for CryptoZoo’s failure.

Magazine: Meet lawyer Max Burwick — ‘The ambulance chaser of crypto’ 

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