BlockTower Capital Founder: Market Makers Primarily Affect Intraday Volatility, Main Reason for BTC Pullback is Early Holder Selling

Odaily News BlockTower Capital founder Ari Paul stated that market makers might indeed engage in short-term operations in weak market conditions, such as slightly pulling MSFT or BTC by around 2% to trigger stop-loss orders. However, such actions are typically intraday games, with prices often reverting within seconds or minutes, having limited impact on the long-term trend of assets with ample liquidity like Bitcoin ETFs.

He pointed out that the more significant reason for this round of BTC decline lies in early holders selling tens of thousands of BTC, with insufficient buying interest in the market to absorb the selling pressure. Ari Paul believes that while long-term, large-scale manipulation is not entirely non-existent, its probability is low and carries high risks. In most cases, deviations in market movements from expectations should not be simplistically attributed to "manipulation"; investors should optimize their own analytical frameworks. Meanwhile, compared to "downward manipulation," "upward pushing" is more common across various asset classes.