Wall Street has been nailing Bitcoin’s price actions lately since the start of the CBOE futures market opened a week ago. Today, between 2am and 3am, the futures began a very big selloff which later we saw in the Bitcoin price just an hour later at 4am. This market has been able to predict Bitcoin’s market action with an extreme amount of accuracy. Take a look at the charts below.
BTC futures (XBTF8)
BTC Price from coin desk (BTCUSD)
This is very reminiscent of gold and silver manipulation that has been pointed out by others in the past. Mysteriously in the wee hours of the morning, SLV and GLD contracts will hit the market all at once.
You also have to factor in that this month is the close of the fiscal quarter/year. This pattern also happened in September, June, and March which were also the last months of their respective fiscal quarters/years. I am doubting that this is due to futures market manipulation at this time. More likely book settlement.