Traders cry ‘manipulation’ as US sell-off liquidates $200M in an hour

💡 DMK Insight

Bitcoin’s drop below $87,000 signals a potential shift in market sentiment, especially with Wall Street’s selling pressure. The recent announcement of a 10,000+ BTC buy by Strategy is noteworthy, but it hasn’t been enough to counteract the broader bearish trend. Traders should consider that institutional selling often precedes significant price movements, and this could indicate a lack of confidence in the near-term price stability of Bitcoin. If BTC can’t reclaim the $87,500 level soon, we might see further downside, potentially testing support around $85,000. Watch for volume spikes or changes in buying patterns from institutions, as these could provide clues about market direction. On the flip side, if the buying from Strategy continues and we see a reversal, it could create a short-term rally. Keep an eye on the daily charts for any bullish divergence, which might suggest a reversal is brewing. But for now, the immediate focus should be on how Bitcoin reacts to these selling pressures and whether it can hold above critical support levels.