Analyst Accuses Binance and Coinbase of Manipulating Bitcoin at $90,000

The cryptocurrency market found itself at the center of controversy once again after Bitcoin (BTC) surged to $90,000 on December 29, 2025, followed by a quick pullback to $87,700. A popular analyst, nicknamed NoLimit, openly stated that this move was not a random market fluctuation, but rather the result of a planned action by major trading platforms.

Liquidation Trap: How the Bears Were "Shaved"

According to NoLimit, the exchanges Binance and Coinbase, as well as market maker Wintermute, were behind the short-term pump. The expert asserts that the incident was a classic liquidity-stealing operation.

The situation unfolded according to a pre-planned scenario:

- A critical accumulation of short positions formed around $90,000.
- The financing rate fell into negative territory, indicating a market bias in favor of sellers.
- Open interest showed abnormal growth.

Taking advantage of the low liquidity conditions, major players aggressively pushed the price upward. This triggered a cascade of forced liquidations of short positions. As a result, traders were forced to buy back assets at inflated prices, thereby unwittingly fueling further price increases.

Unloading Assets at the Peak of Emotions

While retail investors, succumbing to FOMO (fear of missing out), entered the market against the backdrop of bright green candles, the organizers of the maneuver began large-scale profit-taking. On-chain analysis confirms that large volumes of assets entered exchanges immediately after reaching a local high.

As soon as the flow of liquidations dried up, the artificial support for the price ceased. Deprived of fundamental support, the Bitcoin price collapsed as quickly as it had risen, leaving late buyers with losses.

The Illusion of a Free Market

The analyst emphasizes that such dynamics have nothing to do with organic supply and demand. They are a coordinated maneuver by entities that simultaneously have access to order books and sufficient resources to manage liquidity. The unloading of positions on Binance can be seen below.

"Is this illegal? Of course!" "But no one cares," NoLimit concludes, pointing out that in an unregulated or poorly regulated crypto market, such manipulations go unpunished, despite their obvious nature.

The events of December 29th once again reminded investors that at the threshold of important psychological levels, such as $90,000, the market becomes a high-risk zone, where the interests of major players rarely align with those of ordinary traders.