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

Odaily Tin tức BlockTower Capital founder Ari Paul stated that market makers may indeed engage in short-term operations in weak market conditions, such as slightly pushing up MSFT or BTC by around 2% to trigger stop-loss orders, but such actions are typically intraday games; prices often revert 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 is the sale of tens of thousands of BTC by early holders, coupled with insufficient market buying to absorb the selling pressure. Ari Paul believes that while long-term, large-scale manipulation is not entirely non-existent, it is relatively low probability and high risk. In most cases, deviations in market movements from expectations should not be simplistically attributed to "manipulation"; investors should optimize their own analytical frameworks. Furthermore, compared to "downward manipulation," "upward pushing" is more common across various asset classes.