Viewpoint: Bitcoin prices may be subject to "artificial" suppression

ChainCatcher news, according to Forbes, Pixelmatic founder Samson Mow warned at the Consensus Hong Kong cryptocurrency conference that Bitcoin prices may be "artificially" suppressed. Although retail buyers are dollar-cost averaging into Bitcoin, there still seems to be selling pressure. "Even though both institutional and retail buyers are accumulating Bitcoin, the price has not increased, which definitely indicates that someone is selling." Last year, structural sellers emerged in the market due to bankruptcies and restructurings, but that period has basically ended.

In addition, the repayment process of FTX has also intensified selling pressure. The company is repaying based on Bitcoin's price of about $20,000 in November 2022. As creditors attempt to realize profits, this could lead to more sell-offs, with FTX selling Bitcoin at much lower prices, which explains why Bitcoin prices lack upward momentum.