BlockBeats reported on June 6 that prominent trader Killa (@KillaXBT) observed a significant buy order wall on Binance shortly after Bitcoin slipped below the $60,000 mark. Killa referred to this as the return of the “plunge protection team,” a term used to describe large bids placed below the market to absorb selling pressure. Such walls are often interpreted as institutional or whale activity aiming to stabilize prices at key support levels.
Killa further shared historical charts showing that similar buy wall structures in the past were often followed by a brief period of further price suppression before a bounce. The pattern suggests that concentrated buying power near critical support can precede short-term rebounds, a dynamic that has repeated on previous occasions.