- Bitcoin holds between $80K-$87.5K as whales allegedly use spoofing to cap prices near $89K, suppressing upward momentum.
- BTC’s $84K-$85K zone is critical for bulls; losing it risks drops toward weaker liquidity clusters below.
Bitcoin (BTC) has remained between $80,000 and $87,500 for over a week, with analysts attributing the stagnation to potential market manipulation by large traders. Data from trading platform Material Indicators suggests artificial liquidity blocks above $87,500 are suppressing upward momentum, a tactic known as “spoofing,” where false orders mislead traders.
On March 20, Bitcoin briefly touched $87,500 but failed to breach the level. Material Indicators identified clusters of sell orders near $89,000 on Binance, likely placed by high-volume entities, or “whales,” to cap price gains. Charts show most investor groups, excluding the largest holders, are reducing exposure.
$BTC Took out the local liquidity above and has now been consolidating.
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… https://t.co/qKHJqvLc2u pic.twitter.com/7VGxrUJngh
— Daan Crypto Trades (@DaanCrypto) March 20, 2025
Despite holding $80,000 as support, analysts caution that recent lows near $76,000 may not solidify as a long-term floor. Trader Daan Crypto Trades emphasized the $84,000-$85,000 zone as critical for maintaining bullish momentum.
“Bulls must defend this area to avoid a drop toward weaker liquidity zones” he noted.
Attention also centers on Bitcoin’s 200-day moving averages (SMA and EMA), hovering near $85,000. Historically, these indicators act as support in bull markets if prices consolidate above them.
Spoofing allegations resurfaced due to patterns mirroring past cycles, where large traders allegedly used fake orders to influence market psychology. However, opaque order book data complicates confirming such activity.
Meanwhile, Bitcoin futures open interest dropped by $10 billion over two weeks, signaling reduced leverage after recent volatility. This decline may ease liquidation risks but reflects trader caution.
Current conditions blend technical signals with speculation over whale interference. While Bitcoin retains elevated yearly highs, breaking key resistances remains pivotal. Bulls face a clear challenge: hold $84,000 or risk sharper corrections.
As of today, Bitcoin (BTC) is trading at $84,019, showing a slight 0.17% decline over the past 24 hours. Over the past week, BTC has risen 3.59%, but it’s still down 12.15% over the last month. Year-to-date, BTC is down 10.02%, although it remains up 23.80% compared to the same time last year, showing a healthy longer-term trend despite recent volatility.
BTC recently hit a local peak of $87,453, but dropped to around $83,655 after market reactions to political statements, particularly from former President Trump regarding crypto regulations. The broader macroeconomic environment is also influencing price action, with speculation about quantitative easing and leverage exemptions potentially supporting BTC over the coming months.
From a technical standpoint, Bitcoin’s trend remains neutral, with indicators such as RSI and MACD hovering around key midline levels. If BTC breaks resistance at $85,000, it could rally toward $88,000-$90,000. However, failure to hold $83,000 could lead to a deeper correction to the $78,000-$75,000 zone.
