Bitcoin experienced a sharp downturn yesterday after whale-driven activity triggered a key breakdown. The $108,791 support level was breached, and the price quickly approached the $107,126 / $106,211 zone. Roughly $100 before reaching this range, a buying reaction kicked in, and the price has now settled around $108,300.

Whale Manipulation: A Persistent Threat?

The recent volatility shows once again how whales capitalize on reduced weekend liquidity. In markets where order books are thin, a single large transaction can cause drastic swings. This isn’t new for Bitcoin—but each time, it forces the market into a fresh state of balance.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Today, due to the weekend, major movements are not expected. Still, any breaking news—especially regarding regulations or major exchange updates—could reignite volatility. Investors should stay alert and review their stop-loss and entry levels carefully.

Watching Resistance and Support Levels Closely

On the technical front, the immediate resistance level stands at $108,791. If this level is reclaimed, a rise toward $109,400 is plausible. On the downside, initial support is seen at $107,126, followed by $106,211. A deeper drop might take Bitcoin to as low as $103,788.

The next 24 hours could prove pivotal for Bitcoin traders. Even in a seemingly calm market, surprises are never far away in crypto.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Market Shaken by Whales: Is Bitcoin Entering a New Phase? appeared first on Coin Engineer.

Will a Liquidity Grab Occur?

In our previous Solana analysis, we mentioned that there could be deviations below the ascending trendline on the daily chart. These deviations are often aimed at collecting liquidity below. On the 4-hour chart, the $175 and $168 levels are key liquidity zones, and we could see price reversals from these areas.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

If the price moves towards the lower regions of the accumulation zone, potential manipulation moves could occur. However, if the price reclaims the accumulation box, it could create long trade opportunities. Therefore, traders should closely monitor these critical levels.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Solana Enters Re-Accumulation Phase After Strong Rally! appeared first on Coin Engineer.

Significant allegations have been made about Binance, which is facing difficulties in the US, has paid a historic fine, and its former CEO CZ has been sentenced to 5 months in prison, and DWF Labs, which is known for its investments in cryptocurrencies.

According to a report by Wall Street Journal in the US media, Binance’s Crypto Surveillance Team detected a manipulation by DWF Labs. Binance terminated the employment of the executive/employee or employees who exposed this manipulation. The report also stated that DWF Labs made $300 million in profit in 2023 through fake volumes, also known as “wash trade.”

Looking at the news, it appears that Binance management would not want DWF Labs’ manipulation to be exposed. Binance has not yet made a statement on the matter as of 13:00 TSİ.

DWF Labs has issued a statement denying the allegations, saying that “the vast majority of the allegations are distorted and baseless.”

Was the fired executive working with DWF’s competitors?

The WSJ report also stated that 2/3 of Binance’s volume is provided by VIP customers, and the following statements were used:

“Binance was getting 2/3 of its volume from VIP customers. The surveillance and tracking team had taken the Tron Foundation out of the VIP customer group. However, there were growing suspicions about DWF in recent times. However, Binance’s compliance manager was not happy with these complaints. He didn’t think there was enough evidence. The compliance manager also believed that the tracking team was close to DWF’s competitors. Later, the executive responsible for the tracking team was fired.”

The WSJ report also stated that Binance determined that DWF Labs, together with YGG, also manipulated a total of 6 tokens. It was stated that DWF Labs sold 5 million tokens at the peak prices of 2023.

However, Binance management thought that DWF’s transactions were actually problem-free buys and sells. There was an allegation that this was not manipulation. Binance thought that the real fraudster was the tracking executive who was “working with DWF Labs’ competitors.”

The post Binance Fires Executive Who Exposed DWF Labs Manipulation appeared first on Coin Engineer.

Confirming the incident by stating that SEC’s account was also hacked, following SEC Chairman Gary Gensler’s post, crypto investors criticized the agency for not being able to secure its own account despite claiming to protect investors.

Bloomberg ETF analyst James Seyffart noted that the tweet was an expected event and emphasized that Gensler should take responsibility. Another ETF analyst, Eric Balchunas, pointed out that a planned tweet might have been shared with the wrong date.

Michael Saylor approached the issue with humor, stating that Bitcoin spot ETFs would be an asset approved twice.

From the crypto community to U.S. senators, everyone expressed their reactions to SEC and Chairman Gary Gensler on Twitter. Senator Bill Hagerty said in his post, “Just as the SEC demands accountability from a public company for making a massive mistake that affects markets, Congress needs answers to what just happened. This is unacceptable.”

In response to the incident, SEC, in a statement to Bloomberg, said that the Bitcoin ETF post was not made by its own staff. Nevertheless, numerous lawsuits against the regulatory body are expected.

SEC, which previously claimed that cryptocurrencies had a harmful structure, damaged its reputation in the industry this time with its own erroneous tweet. The final decision on Bitcoin spot ETFs from the SEC is expected on January 10, but it is not yet known what the decision will be.

The post Big Reaction to SEC Manipulation! appeared first on Coin Engineer.