Decoding the Crypto Market Crash: Manipulation or Genuine Panic?

Signs of Possible Crypto Market Manipulation

The crypto market was rocked last night by a spectacular crash, with prices plunging to unprecedented lows, particularly on Binance. Bitcoin (BTC) dropped to $102,000, while XRP and other assets like Ethereum (ETH) and Solana followed the downward trend.

While @DrProfitCrypto dismisses the idea that tariffs alone caused this movement, claiming an orchestrated preparation by market makers, suspicions of manipulation are gaining ground. Was it a planned liquidation or a domino effect amplified by volatility?

According to @DrProfitCrypto, market makers had anticipated this crash, using bad news – such as Trump’s tariff announcements – as a trigger. Data shows that prices on Binance fell lower than on other exchanges, with BTC dropping to $101,000 compared to $107,000 on Coinbase, suggesting targeted selling pressure.

Massive liquidations, reaching $19 billion in less than an hour according to estimates, wiped out long positions, particularly on Hyperliquid where $1.1 billion in shorts were positioned before the drop, generating $450 million in profits. This coordination, coupled with liquidity withdrawals by makers, fuels theories of an orchestrated “sweep” to buy back at low prices.

Price gaps between exchanges strengthen these suspicions. On Binance, SUI reached $0.5 while Coinbase displayed $2.00, a discrepancy that reveals “obvious manipulation” by the major platforms.

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Furthermore, the depegging of stablecoins like USDe to 0.98 amplified liquidation cascades, forcing hedged positions to close, a perfect scenario for well-positioned players.

Exchanges Under Fire?

Binance and OKX emerge as the main players under scrutiny. According to on-chain data, these platforms recorded the highest volume peaks during liquidation clusters, with 60% of the $19 billion in losses liquidated in less than an hour.

@Av_Sebastian points to possible collusion, suggesting that exchanges withdrew liquidity to maximize retail traders’ losses.

These allegations recall previous incidents such as the Bybit hack or accusations against BitMEX, where manipulation was suspected. Without concrete evidence, exchanges deny any involvement, but the opacity of their mechanisms fuels doubts.

Moreover, major exchanges experienced difficulties, preventing retail traders from selling or buying. This event reminds us that we must always protect these assets.

In conclusion, the tariff announcements in no way justify such panic. Whether exchanges are at fault or not, certain whales certainly took advantage to liquidate billions of dollars and accumulate during the crash.

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