BlockTower Capital Founder: Market makers mainly influence intraday volatility; the main reason for BTC's pullback is early holders selling off.

BTC2,16%

Odaily Planet Daily reports that BlockTower Capital founder Ari Paul stated that market makers may indeed engage in short-term trading during weak market conditions, such as slightly pushing MSFT or BTC by about 2% to trigger stop-losses. However, such actions are usually intraday maneuvers, with prices often returning within seconds or minutes, having limited impact on the long-term trend of liquid assets like Bitcoin ETFs.

He pointed out that the main reason for this round of BTC decline was early holders selling tens of thousands of BTC, while market buy-in was insufficient. Ari Paul believes that large-scale manipulation over the long term is not entirely impossible but is less likely and carries higher risks. In most cases, deviations from expected market trends should not be simply attributed to “manipulation.” Investors should optimize their analytical frameworks. Additionally, compared to “downward manipulation,” “upward pushing” is more common across various asset classes.

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