> That's fine. But does anyone actually think the world BTC price is being manipulated? Hum, yes, I mean, it's not even a matter of believing it or not, it's w

> That's fine. But does anyone actually think the world BTC price is being manipulated? Hum, yes, I mean, it's not even a matter of believing it or not, it's well known fact. We had at least 5 BTC flashcrashes in 2021, caused by massive sell-off from individual holders, which often trace back to crypto funds. Bear with me though, I'm not saying the overall BTC price is manipulated _all the time_. What I'm saying is that there are a _lot_ of individual BTC spot markets, with very different liquidity, market makers, and participants. Some players have historically manipulated BTC in the past, and will likely continue in the future. The reason of these sell-off are open to speculation, but are often attributed to tentatives of triggering short squeezes by mass liquidation. Or just triggering a massive buy back from others stop losses. etc These types of manipulations are possible only when an individual holder can have a significant market impact because of the low liquidity present in the book, or if market makers have loose liquidity constraints. Both are true for pretty much all BTC spot markets. The future market is largely unaffected since there's so much more liquidity on BTC futures, no holder could dry it out in an instant. Also, in the case of CME futures, the participants are regulated, so market manipulation is pretty much out of reach anyway and would instantly trigger an investigation. At the time of this writing, there's just ~$700k on the top of the spot BTC/USDT book of Binance, while there's around $6M on the perpetual future book. Imagine how dry the fiat USD book would be. Anyone with $500k worth of BTC would crash it at will.