Bitcoin Price Manipulation on Wall Street: A Complete Overview – Coin Edition
A recent report by Aaron Arnold from Altcoin Daily suggests that Wall Street institutions might be manipulating Bitcoin prices to accumulate more of the asset while keeping the prices low for strategic reasons.
Arnold points to allegations of major financial institutions, including BlackRock, coordinating efforts to suppress Bitcoin’s value. These tactics allegedly involve market manipulation and media-driven narratives to influence public sentiment.
Specifically, he mentions BlackRock’s Bitcoin ETF experiencing significant outflows totaling $330 million, which could be part of a deliberate strategy to keep Bitcoin prices down. Jim Cramer’s recent concerns about Bitcoin are also highlighted, with Arnold noting Cramer’s past influence on markets, suggesting his comments may be aimed at swaying public perception of Bitcoin.
Additionally, the U.S. government is reportedly considering establishing a Bitcoin reserve with over 200,000 confiscated Bitcoin to enhance the dollar’s value and secure its status as a world reserve currency. This initiative, supported by Senator Cynthia Lummis and President-elect Donald Trump, could involve converting Federal Reserve assets into Bitcoin to eliminate the need for additional tax revenue.
Despite these concerns, Arnold also notes BlackRock’s positive impact on Bitcoin adoption, with the asset management giant planning to allocate 2% of its portfolio to Bitcoin through its ETF. He emphasizes the significance of this move, highlighting that even a small allocation by such a large institution could reshape the cryptocurrency market.
In conclusion, Arnold warns viewers that Wall Street’s efforts to push negative narratives about Bitcoin may be a calculated move to enable cheaper accumulation. He suggests that this could be the final opportunity to purchase Bitcoin under $100,000, with the current price at $98,000 after a recovery from a December dip.
