Elon Musk wehrt sich gegen einen neuen Bericht des WSJ, das zuvor schon mit der Kryptobranche auf Konfrontationskurs gegangen ist.
Analysts raise red flags on ALPACA’s 1,000% rally after delisting news
- Analyst Budhil Vyas flagged the rally as “liquidity hunting” by whales.
- Traders used spot buys and futures to manipulate demand and price.
- Similar patterns are seen in South Korean exchange delistings like Upbit.
Alpaca Finance (ALPACA) is at the centre of controversy after a sudden 1,000% rally in the days following Binance’s announcement to delist the token.
While such a notice usually triggers a steep decline in asset value, ALPACA’s price trajectory defied market norms.
The spike has raised concerns over potential manipulation, with experts pointing to deliberate strategies by large traders to drain market liquidity.
Binance stated on 24 April that it would delist ALPACA and three other assets, effective 2 May.
In contrast to the expected outcome, ALPACA’s value rose sharply, then dropped 34.5% in a single day.
ALPACA trades at $0.55 after extreme volatility
Data from BeInCrypto shows that ALPACA traded at just $0.02 before the delisting announcement.
It then surged as high as $1.27 before falling back to $0.55 at the time of writing.
The spike was not mirrored by the other three tokens set for delisting, which all saw declines.
This has led many analysts and traders to believe that the token was targeted by entities engaging in aggressive liquidity extraction.
Market analyst Budhil Vyas described the activity as a classic example of “liquidity hunting.”
He explained that whales may have initially driven down the price to spark panic and forced liquidations.
Then, shortly before the two-hour delisting deadline, they executed a rapid 15X price pump.
The aim, he said, was to drain remaining market liquidity before the token became illiquid post-delisting.
According to Vyas, no substantial accumulation occurred, meaning the rally was not based on investor confidence or platform developments.
Futures trading tactics fuelled the rally
Further details were shared by crypto trader Johannes in a recent X post, highlighting how the structure of perpetual futures markets may have enabled the ALPACA price rally.
Traders allegedly took large long positions in futures while simultaneously buying ALPACA in the spot market to artificially boost demand.
Since they held a majority of the supply, selling pressure was limited, allowing the price to climb significantly.
This tactic works because perpetual futures contracts often remain liquid even when the underlying asset is delisted from spot exchanges.
When the token is removed from Binance, forced closures of positions can occur with minimal price slippage, allowing profits to be locked in.
The approach depends on short-term market dominance and access to large capital reserves, effectively crowding out retail participants.
Similar trends were observed in South Korea
The ALPACA case is not isolated. DeFi analyst Ignas noted that similar behaviour has occurred during token delistings on South Korean exchanges like Upbit.
In such cases, tokens experience sudden price pumps as retail investors rush to exit positions, or speculators try to capitalise on restricted inflows before the trading window closes.
One example cited was Bitcoin Gold (BTG), which surged 112% after Upbit announced its removal from the platform.
Ignas said delisting announcements can now generate as much speculative activity as token listings.
This dynamic has caught the attention of analysts who believe that “pump → delist” cycles may be emerging as a repeatable pattern in some trading circles.
These trends suggest a growing need for investor education and possibly tighter regulation, particularly when exchange decisions can be exploited for strategic gains.
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Bitcoin nears $100K as $61.6B support zone strengthens around $95K
- 649,600 BTC bought between $95,193–$97,437.
- Support worth $61.6B could protect BTC from dips.
- Key downside support lies at $93,625 and $91,521.
Bitcoin is showing signs of a sustained recovery after weeks of consolidation, with technical indicators suggesting a possible move towards the $100,000 mark.
Recent on-chain data and trading patterns hint at renewed bullish sentiment as investors hold their positions, potentially creating strong support at current levels.
As central banks maintain cautious policy stances and institutional interest in crypto remains elevated, Bitcoin is once again emerging as a focal point for traders seeking high-upside opportunities.
This rebound also coincides with a broader uptick in risk assets, highlighting renewed optimism in global financial markets and reinforcing Bitcoin’s role as a barometer of investor sentiment.
MVRV bounce mirrors past bull cycle setup
The Market Value to Realized Value (MVRV) ratio, a critical indicator for Bitcoin’s market cycle, has rebounded off the mean value of 1.74. Historically, this level has marked the early stages of major price rallies.
A similar trend was observed in mid-2024 when a bounce off this level was followed by a sharp surge in BTC prices during the yen carry trade unwind.
That move saw Bitcoin hit a temporary peak before entering a period of correction. The current rebound off the same ratio level suggests a bullish setup may be underway again. The market’s structure appears to be repeating, with the MVRV ratio acting as an early signal.
$61.6B in BTC creates price cushion between $95K and $97K
According to IntoTheBlock’s In/Out of the Money Around Price (IOMAP) model, around 649,600 BTC were purchased between $95,193 and $97,437. At current prices, this holding represents a value of over $61.6 billion.
This accumulation zone is critical because it provides a solid support base for Bitcoin if current holders avoid selling prematurely to break even.
Historically, when such large volumes are held within a narrow range, it either forms a strong support floor or becomes a resistance if sentiment weakens.
In this case, the bullish setup is strengthened by the assumption that holders are in no rush to sell, especially with Bitcoin nearing the psychological $100,000 level.
The high level of demand within this range may act as a springboard.
If BTC climbs above $97,437, this zone may flip into lasting support, further boosting bullish momentum.
However, if investor sentiment shifts and selling pressure increases, this support could break, changing the market’s short-term outlook.
Bitcoin price eyes breakout above $95,761
Bitcoin is currently trading at $95,429, showing signs of a steady short-term uptrend over the past three weeks.
The key level to watch in the near term is $95,761.
Source: CoinMarketCap
BTC has been consolidating just below this resistance zone for about a week, and a breakout could trigger a rally towards $98,000.
The current price action suggests that BTC is attempting to secure $95,761 as support. If successful, this would open the way for a move to $98,000 and eventually $100,000.
These levels are both psychologically significant and technically relevant due to previous market activity.
On the downside, failure to hold $93,625 could send BTC down to $91,521.
A fall below this support would invalidate the current bullish trend and signal a possible return to market indecision.
Traders are closely monitoring price behaviour near these levels for confirmation of the next move.
Technical setup favours short-term gains
The ongoing price movement reflects rising investor confidence, backed by a mix of technical and on-chain indicators.
The MVRV ratio’s bounce, large-scale buying at key price zones, and a visible uptrend in trading activity all contribute to a positive sentiment around Bitcoin.
If momentum holds, the resistance zone between $97,437 and $98,000 could soon be tested.
Breaking through it would not only affirm the bullish thesis but also bring the $100,000 target within realistic reach.
However, any signs of reversal will require caution as sentiment remains sensitive to macroeconomic cues and regulatory developments.
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Crypto news today: Bitcoin holds $94K despite volatility; analyst warns market ignores risks
- Bitcoin recovered from an intraday dip to trade near $94,700, down slightly over 24 hours.
- US stocks also recovered late after falling over 2% early on weak economic data.
- Altcoins generally underperformed Bitcoin, with the CoinDesk 20 index down 2%.
Cryptocurrency markets navigated a choppy session on Wednesday, ultimately demonstrating resilience alongside traditional US equities as both asset classes clawed back from earlier declines.
Despite this recovery, underlying economic concerns and persistent uncertainty surrounding US trade policy kept investors watchful, with some analysts questioning the market’s apparent disregard for potential headwinds.
Crypto recovers from dip, altcoins lag
While characterized by volatility, the overall trend for crypto on Wednesday remained one of range-bound trading.
Shortly after the close of US equity trading, Bitcoin (BTC) was holding steady around $94,700, marking only a marginal 0.4% decline over the preceding 24 hours.
This modest change, however, belied earlier volatility where the leading cryptocurrency had dipped nearly 2%, mirroring weakness seen in stocks during the initial part of the session.
While Bitcoin recovered most of its lost ground, many alternative cryptocurrencies (altcoins) failed to keep pace, suggesting a degree of risk aversion within the digital asset space.
The broader CoinDesk 20 index, which tracks leading cryptocurrencies excluding stablecoins and certain other tokens, slumped 2% over the 24-hour period.
Notable decliners included litecoin (LTC), Ripple’s XRP, Avalanche (AVAX), and Chainlink (LINK), each shedding roughly 4%.
Wall Street stages late-day comeback
This pattern of early weakness followed by a late recovery closely mirrored the action on Wall Street.
Major US stock indices initially tumbled by 2% or more following the release of less-than-stellar economic news, only to regain substantial ground throughout the trading day.
The S&P 500 managed to close slightly in positive territory, while the Nasdaq Composite finished with a minor dip of just 0.1%.
Economic jitters, tariff talk persist
Despite this market resilience, the underlying economic picture presented cause for concern, contributing to the earlier sell-off.
Data releases pointed towards potential slowing in the US economy.
Consumer confidence readings hit multi-year lows, and job opening figures came in below expectations, potentially reflecting the impact of ongoing trade tensions and tariff policies.
The continuing string of lackluster economic data, however, has not appeared to sway US President Trump from his assertive tariff policies.
Dismissing potential negative consequences for consumers, Trump remarked early Wednesday: “Somebody said all the shelves are going to be open… Well, maybe the children will have two dolls instead of 30 dolls, and maybe the two dolls will cost a couple of bucks more than they would normally. … They have ships that are loaded up with stuff, much of which we don’t need.”
These comments underscore the ongoing policy uncertainty contributing to market volatility.
Analyst flags market ‘blindness’ to deeper risks
This apparent disconnect between weakening economic signals and relatively buoyant market performance drew sharp commentary from some analysts.
Jeff Park, head of Alpha Strategies at digital asset investment firm Bitwise, expressed concern about the market’s focus.
“Hard to fathom how blind the market really is,” Park posted on the social media platform X (formerly Twitter).
He argued that the market’s fixation on potential near-term Federal Reserve interest rate cuts overlooks more significant fundamental risks related to US economic policy and its global standing.
“A Fed cut means nothing if U.S. creditworthiness is permanently impaired by the global community as resulted by dollar weaponization,” Park stated, suggesting aggressive policies could undermine trust in the US dollar and, by extension, the notion of a “risk-free” US Treasury asset.
“That’s the mispricing we are talking about here,” he continued.
“The myopic focus on whether [we] are getting a fed cut in May/June is completely irrelevant if the notion of the risk-free as we know it is fundamentally challenged forever, which means cost of capital globally is going higher.”
Mixed fortunes for crypto stocks
Reflecting the somewhat mixed day, crypto-related equities saw modest movements overall.
Coinbase (COIN) and MicroStrategy (MSTR) posted slight gains, while Bitcoin miner Hut 8 (HUT) stood out as a notable underperformer, declining 5.7%.
The day’s trading ultimately highlighted a market grappling with conflicting signals – resilience in price action against a backdrop of concerning economic data and persistent policy uncertainty.
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