RATE Group | Bitcoin, Gold are Not Rising Because of Major Market Manipulation
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Bitcoin, Gold are Not Rising Because of Major Market Manipulation

26 May Bitcoin, Gold are Not Rising Because of Major Market Manipulation

Posted at 09:15h in Bitcoin News by

  • Bitcoin and Gold ditched their safe-haven narratives to move alongside the risky U.S. equities amid a global healthcare crisis.
  • While Bitcoin crashed to below $4,000 in an overnight dump on March 12, Gold logged its worst week in eight years.
  • Both hedging assets suffered because of significant market manipulations in their market, according to researchers at the University of Sussex Business School.

Why Bitcoin, a perceived safe-haven asset, did not rally in the face of a global macroeconomic crisis? A U.K.-based research team answered with findings indicative of “intense and large-scale market manipulation.”

Record-level Manipulation

Researchers at the University of Sussex Business School’s CryptoMarketRisk project team tracked trades across the safe-haven markets since March 2020. The analysis led them to spot large sell orders on gold futures, a literal pump-and-dump on copper futures, and large spoofing orders on bitcoin derivative exchanges.

“Some single trades on…

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