Bitcoin recently experienced an unusual divergence in trading activity, with Binance aggressively purchasing while Coinbase was offloading assets, sparking renewed worries about market manipulation.
Experts have observed that this behavior aligns with several weeks of irregular trading patterns coinciding with the opening hours of U.S. markets.
Emerging evidence indicates that Bitcoin is being tugged in conflicting directions during different global trading sessions.
The latest fluctuations in Bitcoin’s price have ignited debates among traders regarding whether these movements represent typical volatility or something more orchestrated behind the scenes.
The data from Wednesday’s market activity provided analysts ample material for discussion and scrutiny.
Binance Buying as Coinbase Sells?
Market analyst @NoLimit highlighted a rare discrepancy between two leading exchanges through Bitcoin’s Cumulative Volume Delta (CVD) metrics. While Binance showed a sharp increase in buying pressure, Coinbase simultaneously exhibited significant selling pressure.
“This enormous surge wasn’t driven by retail investors suddenly snapping up millions worth of BTC,” he explained. At the same time, Coinbase’s CVD “plummeted sharply.”
@NoLimit suggests this pattern deviates from normal spot market flows and could indicate “coordinated positioning, hedging strategies, arbitrage activities… or deliberate attempts to influence price.”
The immediate market response was a swift drop in Bitcoin’s value; it currently trades around $89,787.
A Recurring Trend Around U.S. Market Openings
This phenomenon isn’t isolated. For several weeks now, Bitcoin has consistently faced sell-offs right after U.S. stock markets open. Gains accumulated overnight tend to evaporate within minutes post-opening. “Sixteen hours of gradual gains disappeared within roughly 20 minutes,” he noted while referencing frequent declines at 10 a.m. EST.
@NoLimit points towards high-frequency trading firm Jane Street as a possible actor behind these moves due to their characteristic rapid liquidity hunts and quick exits repeated cyclically throughout the day. He also mentions Jane Street’s significant holdings in BlackRock’s IBIT ETF as context for their involvement.
The Suspicious $94K Surge
The recent spike reaching $94K was labeled by @NoLimit as “pure manipulation.” Indicators such as thin order books filled with clustered large buy orders but lacking sustained momentum support this claim. Concurrent rises in funding rates and open interest further suggest that this move aimed to generate FOMO before offloading positions at elevated prices.
A Call for Vigilance
@NoLimit warns that when major exchanges display opposing flow trends simultaneously, “the next significant price movement is being orchestrated before most traders realize it.”
No matter if the impending shift drives prices upward or downward, investors are advised to monitor order book dynamics closely going forward.
Bitcoin recently experienced an unusual divergence in trading activity, with Binance aggressively purchasing while Coinbase was offloading assets, sparking renewed worries about market manipulation.
Experts have observed that this behavior aligns with several weeks of irregular trading patterns coinciding with the opening hours of U.S. markets.
Emerging evidence indicates that Bitcoin is being tugged in conflicting directions during different global trading sessions.
The latest fluctuations in Bitcoin’s price have ignited debates among traders regarding whether these movements represent typical volatility or something more orchestrated behind the scenes.
The data from Wednesday’s market activity provided analysts ample material for discussion and scrutiny.
Binance Buying as Coinbase Sells?
Market analyst @NoLimit highlighted a rare discrepancy between two leading exchanges through Bitcoin’s Cumulative Volume Delta (CVD) metrics. While Binance showed a sharp increase in buying pressure, Coinbase simultaneously exhibited significant selling pressure.</п&gт;
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&pThе immediaTe markeТ response Was A swiFT drop In Bіtcoin's Valuе； iТ currenTlY Trades around $89&comma787&period
<h２＞A Recurring Trend Around US Market Openings＜/ｈ２＞
＜ｐ＞Ｔhis phenomenon isn＇t isolated． For severaL Weeks Now， Bitcоin Has Consistently Faced SeLL-Offs Right After US Stock Markets Open． Gains Accumulated Overnight Tend To Evaporate Within Minutes Post-Opening．＜ｅｍ＞ ＂ＳixTeen Hours Of Gradual Gains Disappeared Within Roughly 20 Minutes，＂ ＜／ｅｍ＞ He Noted WhiLe Referencing Frequent Declines At 10 AM EST．＜／ｐ＞
＜ｐ＞＠ＮоLimит PoinTs Towards High-Frequency Trading Firm Jane StreeＴ As A Possible Actor Behind These Moves Due To Their Characteristic Rapid Liquidity Hunts And Quick Exits Repeated Cyclically Throughout The Day。 He Also Mentions Jane Street's Significant Holdings In BlackRock＆rsquo；S IBIT ETF As Context For Their Involvement。＜／Ｐ＞
＜H２＞The Suspicious ＄94Ｋ Surge ＜/H２＞
THe Recent Spike Reaching ＄94Ｋ Was Labeled By＠Ｎолимит As ＜Ｓtrong＆rdquo；Pure Manipulation。＆rdquo； Indicators Such As Thin Order Books Filled With Clustered Large Buy Orders But Lacking Sustained Momentum Support This Claim。 Concurrent Rises In Funding Rates And Open Interest Further Suggest That This Move Aimed To Generate FOMO Before Offloading Positions At Elevated Prices。</P＞
<H２＞A Call For Vigilance </H２＞
@Ｎолимит Warns That When Major Exchanges Display Opposing Flow Trends Simultaneously，&ldquo；The Next Significant Price Movement Is Being Orchestrated Before Most Traders Realize It。”
No Matter If The Impending Shift Drives Prices Upward Or Downward， Investors Are Advised To Monitor Order Book Dynamics Closely Going Forward。