Debunking the 'Binance manipulator' theory: 3 reasons why the allegation falls short
Conspiracy theories about market manipulation run rampant in crypto social media, but the accusations of a “Binance manipulator” are pretty easy to debunk.
In the crypto industry, conspiracy theories and rumors of scams are quite prevalent, but sometimes, retail traders who source the bulk of their input from social media simply lack basic market knowledge.
Recently, some reputable crypto market analysts identified a so-called “Binance manipulator”—an entity that has been extremely active in Bitcoin (BTC) futures trading. This entity is alleged to be one of the main reasons behind Bitcoin’s rejection at $66,000 and today’s subsequent retest of the $63,500 support level.
Although there is undeniable evidence that large offers and trades existed, several unproven hypotheses and flawed assumptions contribute to the belief that this entity effectively tried to suppress Bitcoin’s price.
Conspiracy theories about market manipulation run rampant in crypto social media, but the accusations of a “Binance manipulator” are pretty easy to debunk.
In the crypto industry, conspiracy theories and rumors of scams are quite prevalent, but sometimes, retail traders who source the bulk of their input from social media simply lack basic market knowledge.Recently, some reputable crypto market analysts identified a so-called “Binance manipulator”—an entity that has been extremely active in Bitcoin (BTC) futures trading. This entity is alleged to be one of the main reasons behind Bitcoin’s rejection at $66,000 and today’s subsequent retest of the $63,500 support level.Although there is undeniable evidence that large offers and trades existed, several unproven hypotheses and flawed assumptions contribute to the belief that this entity effectively tried to suppress Bitcoin’s price.Read more