People who got in early have $billions of BTC that they’d love to liquidate at current market prices if they could cajole enough USD buyers to cash them out wit

People who got in early have $billions of BTC that they’d love to liquidate at current market prices if they could cajole enough USD buyers to cash them out without crashing the price. The ideal manipulation is to keep the price somewhere in the current range, not to pump it too high where normal suckers start thinking about selling. Another manipulation strategy is taking the price lower, collecting USD by having a bunch of suckers buy leveraged shorts, then manipulating the price up to wipe them out.