Traders Cry ‘manipulation’ As Us Sell-off Liquidates $200m In An Hour

Bitcoin fell below $87,000 as Wall Street selling contrasted with Strategy’s announcement of a 10,000+ BTC buy over the past week.

Bitcoin (BTC) fell under $87,000 after Monday’s Wall Street open as sellers liquidated $200 million of BTC longs.

Bitcoin fell as low as $86,625 as a round of distribution accompanied the return of Wall Street.

Consensus favors fresh lows before a potential BTC price recovery can take place.

Strategy revealed another 10,000 BTC buy, this time at prices above $92,000.

Data from Cointelegraph Markets Pro and TradingView captured a volatile start to the US TradFi trading week.

Sell pressure increased at the opening bell, with commentators on X singling out Binance and Wintermute as sources of supply.

🚨 BREAKING:BINANCE AND WINTERMUTE DUMPING MILLIONS OF $BTCTHEY LIQUIDATED OVER $100M LONG POSITIONS IN 5 MINUTESTHIS IS PURE MANIPULATION!! 👀 pic.twitter.com/0dliky4ypv

Long liquidations quickly mounted, and at the time of writing had passed $200 million in a little over an hour, per data from CoinGlass.

Commenting, already bearish traders saw little reason to believe that a trend reversal or even a significant relief bounce would come next.

Source: CoinTelegraph