
The potential growth of the leading cryptocurrency is being constrained by market manipulation from one or more major players, according to analysts at Material Indicators.
If you are wondering why Bitcoin price hasn't been able to rally past $87.5k yet, the reason is price suppression from Spoofy the Whale. pic.twitter.com/hxvgaWINtN
— Material Indicators (@MI_Algos) March 20, 2025
“If you’re wondering why Bitcoin hasn’t been able to break above $87,500, it’s due to suppression by a spoofing whale,” they wrote.
This type of price manipulation involves placing large limit buy or sell orders that the trader does not intend to execute. The orders are canceled once the desired price movement is achieved.
In discussions, Material Indicators experts agreed that the months-long support level at $76,000 was not strong enough for a major rebound. Additionally, momentum from the recent Federal Reserve meeting was insufficient to trigger a strong rally.
Trader Daan Crypto Trades believes that Bitcoin is consolidating, and bulls need to hold prices around $84,000-$85,000 to maintain momentum.
$BTC Took out the local liquidity above and has now been consolidating.
— Daan Crypto Trades (@DaanCrypto) March 20, 2025
The bulls would want to hold on to the $84K-$85K region to keep the momentum.
Otherwise you're at risk of visiting those lower liquidity clusters which then can end up in a full retrace as price is still… https://t.co/qKHJqvLc2u pic.twitter.com/7VGxrUJngh
“Otherwise, you risk falling into low-liquidity clusters that could lead to a full retracement since the price remains unstable,” he warned.
Experts from CryptoQuant pointed out that the Bitcoin Bull Score index has hit a two-year low at 20. Historically, strong rallies have only occurred when this metric exceeded 60.
Bitcoin Bull Score is at a two-year low of 20.
— CryptoQuant.com (@cryptoquant_com) March 20, 2025
Bitcoin’s down 23% from its peak, and history shows strong rallies only happen when the score is above 60.
Extended low scores often come with bear markets. pic.twitter.com/3OK5g9gibN
“Prolonged periods of low scores are usually associated with bear markets,” they noted.
Ki Young Ju, founder and CEO of CryptoQuant, has already declared that Bitcoin’s bullish phase is over. He suggested that the price will decline or remain in a sideways trend over the next six to twelve months.
YouTube analyst Crypto Rover, however, argued that Bitcoin has completed its consolidation phase ahead of further growth. However, he warned that the market is currently in a period of manipulation, which investors should avoid falling for.
Bitcoin is manipulating you.
— Crypto Rover (@rovercrc) March 21, 2025
Don't get trapped now. pic.twitter.com/HUkhTxpFv9
Previously, Matrixport suggested that Bitcoin’s correction could last until March or April, followed by an attempt to rally back to previous highs. Several Wall Street analysts have also predicted price growth after March.
Ethereum Shows a Potential Pump Signal
Over the past 48 hours, 360,000 ETH has been withdrawn from exchanges, noted technical analyst Ali Martinez.
According to Santiment, the available supply of Ethereum on trading platforms has dropped to 8.97 million ETH—the lowest level since November 2015.
👋 Thanks to the many DeFi and staking options, Ethereum's holders have now brought the available supply on exchanges down to 8.97M, the lowest amount in nearly 10 years (November, 2015). There is 16.4% less $ETH on exchanges compared to just 7 weeks ago. 😮 pic.twitter.com/r5957wPhLi
— Santiment (@santimentfeed) March 20, 2025
Trader Crypto General stated that whales are accumulating ETH “cheaply” in cold wallets ahead of a potential surge to $6,000.
“It’s only a matter of time before a major supply shock occurs,” he emphasized.
Investor NaBer set an even higher target of $8,000–$10,000, claiming that once the “largest ETH accumulation” ends, the cryptocurrency will “instantly” reach these levels.
However, Daan Crypto Trades offered a more pessimistic outlook, pointing out that the ETH/BTC ratio is at levels not seen since late 2020.
$ETH Now trading at levels not seen since late 2020 relative to $BTC.
— Daan Crypto Trades (@DaanCrypto) March 19, 2025
This has been one brutal downtrend and I think it's going to be unlikely to see this anywhere near its highs anytime soon.
Yet, even a "small" bounce to one of these previous levels from 2-3 months ago could… pic.twitter.com/CI8V5Ju5Aw
“It has been a brutal downtrend, and I don’t think it will ever come close to its previous highs,” he stressed.
A reversal, in any case, will only be local, according to the expert.
$ETH / $BTC
— The Wolf Of All Streets (@scottmelker) March 19, 2025
Either Ethereum bounces here and this is a generational bottom, or it's over. pic.twitter.com/PkftQRc4v7
“Either Ethereum rises, marking a generational bottom, or it’s all over,” commented crypto podcaster Scott Melker on the ETH/BTC chart.
Notably, analysts at Standard Chartered have revised their 2025 Ethereum price forecast downward from $10,000 to $4,000.