Key Takeaways
- Samson Mow believes Bitcoin’s value motion seems manipulated.
- Bitcoin has traded between $92,400 and $106,500 since December.
- FTX’s creditor repayments might add promoting strain to the market.
Bitcoin has remained range-bound for over two months, fluctuating between $92,400 and $106,500 since Dec. 18, 2024, in keeping with Cointelegraph Markets Professional information.
The one notable breakout occurred on Jan. 20, following U.S. President Donald Trump’s inauguration, when Bitcoin briefly hit an all-time excessive of $109,000 earlier than pulling again.
Mow’s manipulation concept
Throughout a panel at Consensus Hong Kong 2025, Mow argued that Bitcoin’s stagnant value motion could possibly be intentional.
He said:
It looks as if it’s some form of value suppression. In case you have a look at the worth motion, we peak, after which we keep regular and chop sideways. And it’s good, you may say it’s consolidation, nevertheless it simply appears to be like very manufactured.
Institutional inflows vs value stability
Regardless of massive inflows from U.S. spot Bitcoin ETFs and institutional traders, Bitcoin’s value has remained steady.
Mow identified that main patrons, together with retail traders, proceed accumulating BTC, which means that substantial promoting strain should be countering these purchases.
FTX creditor impression
Moreover, the bankruptcy-related Bitcoin gross sales from 2023 have largely subsided.
Nevertheless, the market is seeing new promoting strain from FTX, which has begun repaying collectors.
The agency is distributing over $1.2 billion primarily based on Bitcoin’s November 2022 value of round $20,000, main some analysts to invest that recipients might money out, including additional promoting strain.