Bitcoin falls below $113,000, analysts say there are obvious signs of price manipulation.

On August 20, analysts stated that the price movement of Bitcoin increasingly resembles a result of intentional manipulation, as BTC reached its lowest level since August 3 under persistent selling pressure from the United States. Bitcoin fell below $113,000 at the opening of the U.S. stock market today, failing to hold the support level. The liquidity of buy orders within the trading platform is being consumed, and $112,300 has now become a level worth following.

Renowned trader Daan Crypto Trades summarized the current liquidity situation of Bitcoin, stating that BTC has cleared a significant amount of liquidity from both bulls and bears during the fluctuations of the past 6 weeks. Currently, a large amount of liquidity is gathered around $120,000, while the local low around $112,000 is still valid and is typically regarded as a local reversal area.

Renowned trader and analyst Rekt Capital has issued a positive signal, comparing the current price movement with previous bull market corrections. "The most positive aspect of the current correction is that similar corrections occurred at the same cyclical moments in 2017 and 2021, and in both 2017 and 2021, these corrections preceded price increases to new all-time highs."