‘Manipulated, No Real Demand’: Crypto Analyst On Recent Bull Market

Crypto analyst and Twitter influencer CryptoCapo, who has over 709k followers on the social media platform tweeted that the current rise in the crypto market is “the biggest bull trap” he has ever witnessed.

I’ve been checking charts all this time, avoiding noise from Twitter. The way the upward movement is happening, the way htf resistances are being tested… it clearly looks manipulated, no real demand.

Once again, the biggest bull trap I’ve ever seen. But they won’t trap me.

— il Capo Of Crypto (@CryptoCapo_) January 21, 2023

On January 21, the account posted that he has been keeping a note of all the activity in the market, and constantly checking the charts while avoiding the community’s response to it on Twitter. However, he is in disbelief at the upward movement that is taking place, and the way the high time frame resistances are being tested. He added,

The way the upward movement is happening, the way htf resistances are being tested… it clearly looks manipulated, no real demand.

The Twitter crypto community’s reaction to the tweet has been hilarious with a series of memes that indicate that CryptoCapo is a “bad trader” who has been unsuccessful to adjust to the new data and hence, lost on many money-making opportunities due to personal biases.

Moreover, at 5 a.m. Eastern Time on Saturday, January 21, 2023, the price of bitcoin hit a 24-hour high of $23,333 per unit. The value of the entire cryptocurrency market has increased by 7.2% in relation to the US dollar to reach $1.05 trillion. Since Bitcoin’s price has increased and its market value has increased to $443 billion, it now has a dominance level among hundreds of other crypto assets as the current market valuation exceeds 40%.

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