Bitcoin price rejected at $87,500 as large traders suppress price rally
Bitcoin price latest attempt to push past $87,500 has met strong resistance, with market movements suggesting deliberate price suppression by large traders. After reaching a 13-week high of $87,500 on March 20, Bitcoin has since pulled back 4.4% to $83,600, with technical indicators hinting at further downside risk.
Recent analysis from Material Indicators suggests that Bitcoin’s inability to break through $87,500 is due to market manipulation by high-volume traders. Large blocks of sell orders, commonly known as “spoofing,” have appeared on Binance’s order books, keeping Bitcoin’s price contained within a narrow range. This tactic, often used by whales, creates the illusion of strong resistance and prevents upward momentum from building.
Lack of momentum in European session reinforces Bitcoin suppression
On the 4-hour chart, Bitcoin’s pullback found support at the 50 EMA, preventing a sharper decline. However, while the 4-hour RSI remains neutral, the daily RSI is slightly below 50, a sign that bearish momentum could continue. This suggests that Bitcoin may face additional downside pressure unless buying strength increases.
BTC/USD price dynamics (March 2025). Source: TradingView.
The lack of momentum in today’s European session indicates that short-term volatility is waning. Bitcoin has edged slightly lower, erasing minor gains from the Asian session, reinforcing the idea that price suppression could be influencing market activity.
Traders will be closely monitoring whether Bitcoin can reclaim $87,500 or if the bearish signals materialize into a deeper correction. If Bitcoin falls below $83,600, the next key support level would be around $80,000, where previous buying interest emerged. On the upside, a breakout past $87,500 could open the door for further gains, but whale activity may continue to suppress significant rallies in the near term.
The Fed’s signal to slow quantitative tightening eased liquidity concerns. Bitcoin broke above $84,400 resistance, peaked at $87,500, then pulled back to $85,500.
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