Bitcoin News: Expert Clears Air on Bitcoin Price Manipulation Rumors, Highlights Normal Market Dynamics

Expert Dispels Rumors of Bitcoin Price Manipulation

Joe Consorti, Head of Growth at Theya, has dispelled rumors that the Bitcoin price is being artificially held down. Consorti examined on-chain data, pointing to the normal cyclical behavior of long-term holders and their profit-taking patterns as key drivers of Bitcoin's current trading dynamic. He dismissed claims of artificial price suppression, stating that Bitcoin's ledger is auditable in real-time.

Bitcoin Price Forecast: BTC Standoff Continues

Bitcoin (BTC) has been consolidating between $94,000 and $100,000 since early February. Investor sentiment remains indecisive, with US spot Exchange Traded Funds (ETFs) recording a $540 million net outflow last week, signaling institutional demand weakness. Meanwhile, Bybit, an exchange mentioned in this news, swiftly secured a bridge loan to cover a liquidity gap after a recent hack worth $1.4 billion.

Michael Saylor’s Strategy Buys Another $1.99B in Bitcoin

On the heels of his most recent CPAC 2025 appearance, Michael Saylor Strategy has purchased another $1.99 billion in Bitcoin. Amid its ongoing 21/21 plan, the company has resumed its BTC purchasing strategy. According to the firm’s founder, they have added another 20,356 BTC to its holdings at an average cost of $97,514 per bitcoin. This brings the company closer to the 500k mark, with its total holdings reaching 499,096 BTC at a total value of more than $33 billion.

Crypto Outflows Hit $508 Million, Bitcoin Takes Biggest Hit

Crypto outflows have reached $508 million as Bitcoin bleeds amid investor caution. The shift in sentiment follows an 18-week rally that accumulated $29 billion. Investors are weighing the impact of US economic events, trade tariffs, inflation, and monetary policy. According to the latest CoinShares report, Bitcoin bore the brunt of investor caution, seeing outflows of $571 million. Some traders also increased short positions, leading to $2.8 million in inflows for short-Bitcoin products. The outflows come amid heightened caution as investors continue to digest US economic data.

Top Hong Kong Investment Firm HK Asia Holdings Increases Bitcoin Holdings

HK Asia Holdings Limited, a prominent investment firm in Hong Kong, has made another significant purchase of Bitcoin. On February 20, the firm acquired approximately 7.88 BTC, bringing its total Bitcoin holdings to 8.88 BTC. The firm paid around $97,021 per BTC for this purchase, totaling $862K. This is the second time the firm has bought Bitcoin this month, following an initial purchase of 1 BTC on February 16. The firm's share price saw a nearly 100% increase the day after its first Bitcoin purchase, and it has risen over 150% since the initial announcement. The positive market reaction to its Bitcoin purchases may have influenced the firm's decision to buy more.