Prominent trader Killa noted that after Bitcoin fell below $60,000, a large buy wall appeared on the Binance BTC pair, which he called the return of the 'plunge protection team.' Historical patterns show that similar buy walls often precede a brief dip followed by a bounce.
ChainCatcher reported that prominent trader Killa (@KillaXBT) observed a large buy wall appearing on Binance for BTC after Bitcoin slipped below $60,000. Data shared by Killa showed dense limit buy orders stacked below the market price, forming a significant support wall. He called it the return of the "plunge protection team," signaling funds stepping in at lower levels.
The crypto slang "plunge protection team" describes sudden heavy buying meant to cushion falling prices. Killa noted that such buy walls have historically led to a pattern where Bitcoin briefly dips to clear liquidity, then stages a bounce. He said this pattern has repeated several times, and the reappearance of large orders under $60,000 has drawn attention to possible whale accumulation.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
