Bitcoin Holds at $76K Amid “Spoof City” Market Volatility Following $77K Peak

Bitcoin recent surge to $77,200 encountered market manipulation concerns, with “spoofing” behavior stirring skepticism. Analysts predict potential price fluctuations as ETF demand signals long-term growth.

Bitcoin latest price rally saw BTC hitting a new all-time high of $77,270 on Bitstamp, only to quickly retract amid heightened market activity. Market watchers noted suspicious “spoofing” behavior—where large order volumes appear to guide prices before being pulled, a tactic banned in traditional markets. Popular trader Skew observed this liquidity manipulation, which kept BTC fluctuating within narrow bounds.

Despite this activity, Bitcoin maintained its footing above $76,000 as market observers took a mixed stance. “BTC is acting weird and underperforming,” noted WhalePanda, highlighting that Bitcoin’s recent all-time highs showed less aggressive upward movement than previous peaks.

Traders, such as CrypNuevo, forecast a potential long squeeze, which could shake out recent long positions before the weekly close. However, the longer-term outlook remains positive, especially as institutional interest in Bitcoin ETFs grows. Spot Bitcoin ETFs saw a record $293 million inflow on November 8, signaling a positive demand trend that supports Bitcoin’s path to global adoption.

In the U.S., increased state-level interest and potential retirement fund allocations for Bitcoin point to further institutional adoption. Veteran commentator Pentoshi underscored that Bitcoin’s current price levels might soon be a rare buying opportunity, as ETF-driven demand could lead to sustained growth

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