• Crypto market liquidations a result of market and exchange manipulation. 
• Reputed analyst expects to see greater dumps ahead. 
• How far will the market drop and how long will it stay bearish?

The crypto market continues to see a decline in crypto asset prices. Yesterday, the crypto market saw $230 million worth of crypto longs liquidated in an hour, leading to further declining prices and over $1.524 billion in total long liquidations that day. A reputed crypto analyst marked these crypto market liquidations a result of market and exchange manipulation, and expects a greater dump ahead. 

Crypto Market Liquidations a Result of Market and Exchange Manipulation

Yesterday, the crypto market experienced the liquidations of several long trades, meaning that there was a shift in the market. Over the past few days, the crypto market has been showing signs of a recovery and rally, leading most traders and analysts to believe that crypto prices are moving towards an upward trajectory. Expecting pump action and upward momentum, more long positions were set. 

What the market experienced instead was the price of crypto assets falling dramatically instead. The price of the pioneer crypto asset, Bitcoin (BTC), fell as low as $112,000, while the price of the pioneer altcoin asset, Ethereum (ETH), fell as low as $4,100. Both prices are currently trading in these price ranges. Now, analysts are debating over what will come next. Is this the beginning of the expected September price correction? 

Yesterday, long positions liquidated $230 million in just an hour and saw $1.524 billion in longs liquidated within the day. This marked the greatest long liquidations so far in this ongoing bull cycle, leading some analysts to believe that this would be the last shakeout before all crypto assets would start ascending to new ATH price targets. However, another analyst believes that greater pumps are ahead.  

Analyst Expects Greater Dumps Ahead

After BTC and ETH hit their latest ATH prices last month, one analyst, Doctor Profit, stated that the crypto market will see a brutal correction in September after the Fed rate cut announcement. He said that what will come is the price of BTC falling to $90,000 to close a CME Gap and then pump to new ATH prices in the following quarter, finally triggering the bull cycle’s altseason peak phase as well. 

Despite having mentioned a recovery and greater ATH prices, the analyst seems to be slowly changing his tune, this time to a sentiment of the bull cycle coming to an end and expecting a complete bearish overturn. As we can see from the post above, he mentions that yesterday’s pump was market manipulation from exchanges and market makers. He expects to see even greater dips when whales start to sell.