Source: Cointelegraph.com NewsBitcoin (BTC) circled $83,000 on March 30 after weekend volatility brought new ten-day lows.BTC\/USD 4-hour chart. Source: Cointelegraph\/TradingView
\nBTC price action deals snap weekend downside
\nData from Cointelegraph Markets Pro and TradingView showed BTC\/USD gradually recovering after a trip to $81,600 the day prior.
\nWith no added selling pressure from the ongoing rout in US stock markets, Bitcoin managed to erase most of the downside to come full circle versus the last Wall Street close.
\n\u201cQuite the volatility for a weekend indeed,\u201d popular trader Daan Crypto Trades summarized in part of his latest content on X.\u00a0
\n\u201cLooking like it might end up opening on Monday where it closed on Friday as most of the dump has been retraced now.\u201d
\nBTC\/USDT 15-minute chart with CME futures data. Source: Daan Crypto Trades\/XDaan Crypto Trades eyed the potential for a new gap in CME Group\u2019s Bitcoin futures markets to be created thanks to the erratic market moves.
\n\u201cWould be nice to not open with a gap for once so we can focus on everything else instead,\u201d he argued, adding that a \u201cbig week\u201d lay ahead.
\nOthers had little hope for a short-term turnaround in Bitcoin\u2019s fortunes. Veteran trader Peter Brandt even doubted the stability of the multimonth lows seen earlier this month.<\/p>\n
I am not a big fan of inverted H&S patterns with downward slanting necklines. H&S patterns with horizontal necklines are far more reliable $BTC pic.twitter.com\/GKGUZbrab8\u2014 Peter Brandt (@PeterLBrandt) March 29, 2025<\/p>\n
\u201cDon’t shoot the messenger. Just reporting on what the chart says until it says something different,\u201d he told X followers this week, giving a new lower BTC price target.\u00a0
\n\u201cBear wedge completed with 2X target from the double top at 65,635.\u201d
\nBTC\/USD 1-day chart. Source: Peter Brandt\/XBrandt\u2019s is not the only $65,000 BTC price prediction currently in force.<\/p>\n
Can \u201cspoofy\u201d $78,000 Bitcoin bids be trusted? Source: Cointelegraph.com NewsBitcoin (BTC) circled $83,000 on March 30 after weekend volatility brought new ten-day lows.BTC\/USD 4-hour chart. Source: Cointelegraph\/TradingView BTC price action deals snap weekend downside Data from Cointelegraph… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126096"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126096"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126096\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126096"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nUpdating his market observations, meanwhile, Keith Alan, co-founder of trading resource Material Indicators, doubled down on his suspicions that a large-volume entity had been manipulating BTC price action lower in recent weeks.
\nRelated: ‘Bitcoin Macro Index’ bear signal puts $110K BTC price return in doubt
\nAs\u00a0Cointelegraph reported, the entity, which Alan dubbed \u201cSpoofy, The Whale,\u201d had used overhead liquidity to pressure the price lower and stop it from\u00a0gaining traction above $87,500.
\nThis form of order book manipulation, known as \u201cspoofing,\u201d is a common feature in crypto and can involve both bid and ask liquidity.
\n\u201cWhile I have no real way of confirming that it is the same entity using ask liquidity to herd price into their own bids, it certainly appears that Spoofy has been buying this dip and has bids laddered down to $78k,\u201d he concluded on the day.
\nAn annotated chart showed all key liquidity clusters thought to be of dubious origin, with Alan now giving reason for optimism.
\nHe concluded:\u00a0
\n\u201cIn the grand scheme of things, none of this means BTC price can\u2019t go lower, but it does mean that the whale that has been suppressing BTC price for the last 3 weeks is using a DCA strategy to buy this dip\u2026and so am I.\u201d
\nBTC\/USDT order book data for Binance. Source: Keith Alan\/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"