Trader cries foul play as $30K Bitcoin price dip ends in biggest-ever daily recovery

Trader cries foul play as $30K Bitcoin price dip ends in biggest-ever daily recovery


Bitcoin (BTC) saw its most successful recovery in history on Jan. 12 after testing $30,000 support, but market participants are already suspicious.

Data from Cointelegraph Markets and TradingView followed Bitcoin as it swiftly bounced off lows of $30,250 late on Monday to seal 20% gains in just over 12 hours.

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Coming even more quickly than its prior fall over the weekend, the comeback marks Bitcoin’s best daily performance ever, both in U.S. dollar and percentage terms. The numbers will be confirmed once the daily candle closes, with press-time levels nearing a local top of $36,600.

No sooner was the recovery underway, however, did concerns appear over the authenticity of recent market movements.

Popular market analyst and Cointelegraph contributor filbfilb argued that the strength of the rally belied what was tantamount to market manipulation — thanks specifically to exchange outages and unofficial advice from asset manager Guggenheim to sell at lower price levels.

“Amazing whats possible

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