Bitcoin Plunge Sparks Manipulation Concerns: Analyst Spot Potential Whales

Bitcoin prices witnessed a sharp decline on August 21st, plummeting to a 17-day low. This sudden drop has raised suspicions of market manipulation, with some analysts pointing towards unusual liquidity movements in order books. These observations are fueling speculation about the involvement of prominent players nicknamed “Spoofy the Whale” and “Notorious B.I.D.” Others caution against hasty conclusions, arguing that the decline could be attributed to a more technical correction similar to those observed in 2017 and 2021. The upcoming speech by Jerome Powell at Jackson Hole could significantly impact the crypto market’s trajectory.