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International Business Times UK

Business

Dani Oh

Bitcoin Blasts Past $70,000 as Viral 'Coordinated Manipulation' Claim Puts Exchange BTC Flows Under Scrutiny

Bitcoin Crypto Donald Trump Coinbase United States US Treasury

Bitcoin climbed above $70,000 as lower Treasury yields, US crypto policy optimism and forced short covering fuelled the rally, while an unverified claim of coordinated exchange buying circulated online (Credit: Kanchanara/Unsplash)

Bitcoin has pushed above $70,000 for the first time since early June as traders respond to falling US bond yields, renewed regulatory optimism in Washington and billions of dollars in forced short liquidations, even as a viral claim of 'coordinated manipulation' puts big exchange flows under scrutiny.

A post from Wimar.X and several other accounts claimed Coinbase bought 6,139 BTC, Binance 4,061 BTC, an unnamed insider 4,036 BTC, Kraken 3,329 BTC, OKX 1,621 BTC, Phemex 1,300 BTC and Wintermute 1,230 BTC. The post described the alleged activity as 'COORDINATED MANIPULATION'.

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