Crypto Pundits Allege Market Manipulation in Bitcoin, Ethereum, Dogecoin Dumps

Crypto pundit NoLimit has provided a detailed technical argument for the recent price action, focusing on a critical metric known as the Cumulative Volume Delta (CVD). He observed a “massive spike” in Binance’s CVD, which he asserts did not originate from retail investors suddenly buying millions of dollars worth of Bitcoin. Simultaneously, he noted that Coinbase’s CVD “fell at the exact same time,” indicating the exchange was dumping a significant amount of BTC. This contradictory net flow between two of the world’s largest crypto exchanges is, according to NoLimit, highly unusual and a potential warning sign.

NoLimit described the resulting market dynamic as one venue getting “aggressively bid up while the other is getting drained,” a scenario he categorizes as “not a normal spot flow.” He posits that this activity likely represents “coordinated positioning, hedging, arbitrage, or pure manipulation.” The immediate effect was a sharp decline in Bitcoin’s price as liquidity was yanked, creating a thin order book and amplifying volatility. This decline subsequently dragged down the prices of Ethereum and Dogecoin, which are known to often mirror Bitcoin’s market movements.

The allegations of manipulation are supported by the specific price patterns observed. Analyst Vivek highlighted that Bitcoin “round-tripped from $94,000 to $88,000 three times in the last few days.” This extreme volatility in a short period was not random, according to the pundits, but a deliberate mechanism. Vivek stated this action liquidated “both longs and shorts worth over $200 million,” calling it “an example of clear market manipulation to wipe out both leveraged longs and shorts.”

NoLimit corroborated this view, noting that the Bitcoin price reacted instantly to the alleged manipulation, dropping, then pushing back to $94,000, only to drop again. He asserted that “a group of people is playing with the market” and that “most people won’t notice until it is too late.” The repeated round-trips between key price levels suggest a strategy to trigger stop-loss orders and liquidate leveraged positions on both sides of the market, allowing orchestrators to potentially profit from the chaos and accumulate assets at depressed prices.

The speculation extends beyond exchanges to traditional finance actors. Crypto pundit Bull Theory recently accused Wall Street trading firm Jane Street of manipulation, citing a recurring pattern where Bitcoin, Ethereum, and Dogecoin “usually decline at the market open before recovering later.” This suggests institutional players may be engineering short-term price drops at specific times to buy assets at a lower cost basis.

Collectively, these analysts warn that the current activity is setting the stage for a significant market move. NoLimit explicitly stated that “the next big move is being set up before the public catches on” and urged market participants to pay attention. The core warning from these allegations is that when major exchanges like Binance and Coinbase “completely disagree on net flow,” it often precedes a major shift that retail traders, focused on price charts alone, may miss until the volatility has already swept through the market.