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Bitcoin 'spoofing' drives BTC price to $97K amid record profit-taking

After struggling to beat out sellers immediately below $100,000, BTC/USD saw order book “spoofing” return to exchanges over the weekend.

This came in the form of walls of ask liquidity placed in such a way as to entice the market lower toward support.

“Ask liquidity moving lower with price $99.5K - $99K (ask walls). Fresh ask wall right above price here which likely was removed already ~ Spoofing on the ask,” popular trader Skew explained in his latest market analysis on X.

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Bitcoin 'spoofing' drives BTC price to $97K amid record profit-taking

After struggling to beat out sellers immediately below $100,000, BTC/USD saw order book “spoofing” return to exchanges over the weekend.

This came in the form of walls of ask liquidity placed in such a way as to entice the market lower toward support.

“Ask liquidity moving lower with price $99.5K - $99K (ask walls). Fresh ask wall right above price here which likely was removed already ~ Spoofing on the ask,” popular trader Skew explained in his latest market analysis on X.

Read More: https://cointelegraph.com/news/bitcoin-spoofing-btc-price-97-4-k-record-profit-taking