- Crypto experts call market manipulation and are shocked by the sudden crash.
- They also admit to the crypto market resetting, creating new opportunity.
- All in all, Q4 remains bullish and analysts expect new ATH ahead.
The crypto market just witnessed its largest single-day liquidation in history, with around $20 billion liquidated from long, short, and leverage trades. Most altcoin trades were completely wiped out, creating what seems to be a crypto market reset, a clean slate for many to start over and reenter. Crypto experts call market manipulation and admit to crypto market resetting as Q4 ultimately, remains bullish.
Crypto Experts Call Market Manipulation
In under 24 hours, the crypto market saw around $20 billion getting wiped out from long, short, and leverage trades, completely wiping out all long and leverage trades, especially for the altcoin market. This dip was suddenly triggered when the price of BTC, which was trading steadily in the $121,000 price range, fell dramatically to the $104,000 price range, and pulled ETH and altcoin prices down with it.
The catalyst for this sudden fall in prices was caused by Trump’s latest announcement related to the suspended tariff war. The tariff war came back to life in full swing as Trump announced a 100% tariff on China. Immediately, stock and crypto market prices fell drastically, leading to huge financial market liquidations, some of which have already been recovered, like XRP price for instance.
A large part of the crypto analysts community are certain that this sudden market liquidation was clear market manipulation. This is because, even the most cautious traders, who hedge risks, were shocked by not just a market dip, which was expected, but rather by the swift and aggressive fall of crypto prices, this all seemed very suspicious, especially when retracing the action of large BTC wallets who placed short trades just before Trump’s announcement.
As we can see from the post above, this analyst explains this theory in detail. He begins by analyzing Trump’s social posts which first teased a trade escalation warning against China. Around this time, one of Bitcoin’s oldest wallets suddenly opened large short positions on BTC and ETH worth millions. Then when Trump announced the 100% tariff, chaos ensued and prices across financial markets began to fall.
Crypto Market Reset Keeps Q4 in Bullish State
The biggest hit was taken by the altcoin market, where many assets fell between 50% to 90%. While some altcoins have already recovered a partial part of the fall, many are still in a red state. The analyst goes on to see patterns, and similar wipeouts were seen during Covid and a few other scenarios. The analyst concludes that with leverage wiped out and shorts overextended, strong hands will buy from panic sellers and eventually build liquidity again.
All in all, while analysts are aghast and shocked by the events that led up to a crash worse than the Covid crash of 2020, based on signals and past patterns, the majority is still very bullish for the long-term and expect Q4 to end in green just like September. The analyst in the post above says BTC will go above $130,000 in October, while ETH is expected to go to $5,000 and kick off altseason.
