The price of Bitcoin has seen a significant drop, falling below the $105,000 mark. This event has become a topic of discussion among traders and analysts trying to determine the reasons for such market behavior.
Decline in Bitcoin Value
Today, Bitcoin dropped below the $105,000 mark, falling from an intraday high of over $109,000 to the current price of $103,651. This marks a nearly 4% decrease in the last 24 hours and marks the seventh consecutive day of negative trends. Such a situation is unusual for a volatile crypto market.
Possible Market Manipulation
According to crypto analyst Material Indicators, there are signs of manipulation in Bitcoin's order book. "This is what manipulation looks like in the market," he tweeted, referring to liquidity changes as the price drops. He highlighted that if the price falls below $105,000, we should expect a sharp drop to $104,000. This manipulation, known as 'spoofing,' involves placing and then removing large orders to confuse the market.
Future of Bitcoin and Macro-Economic Impact
Despite the current decline, analysts note that the market is not reacting with panic. Traders are not aggressively selling as they have in previous dips. Additionally, the strengthening of the U.S. dollar is putting pressure on Bitcoin. Forecasts suggest that under the right conditions, Bitcoin could show growth again. CryptoQuant's IBCI tool indicates a potential resumption of the bull trend, remaining in a neutral area.
The current state of Bitcoin raises many questions among traders. Despite the short-term fluctuations, some analysts remain optimistic about Bitcoin's future, anticipating its potential growth going forward.
