Bitcoin's Price Movement "Looks Very Manufactured," Says Samson Mow

Concerns over potential market manipulation are growing as Bitcoin's price remains trapped in a narrow range, despite substantial institutional inflows. Samson Mow, CEO of Jan3 and founder of Pixelmatic, raised alarms over the cryptocurrency's price action, which he believes appears artificially suppressed.

A Tight Price Range Amid Institutional Inflows

Bitcoin (BTC) has been locked in a tight trading range since mid-December 2024, fluctuating between the support level of $92,400 and resistance at $106,500, according to Cointelegraph Markets Pro data. Despite billions of dollars in institutional inflows, Bitcoin's price has struggled to break out, prompting speculation about possible market manipulation.

Although Bitcoin briefly surpassed its previous all-time high of $109,000 after US President Donald Trump’s inauguration on January 20, the price quickly dropped back within its established range, raising further questions about the market dynamics at play.

Manufactured Price Action?

Samson Mow, speaking during a panel discussion at Consensus Hong Kong 2025, expressed concerns over the lack of natural market movement. “It seems like it’s some sort of price suppression,” Mow said, adding, “If you look at the price movement, we peak, and then we stay steady and chop sideways. And it’s good, you can say it’s consolidation, but it just looks very manufactured.”

He further criticized the tight range in which Bitcoin has been trading, noting that it “just doesn’t look natural at all.” This sentiment has led to growing speculation that Bitcoin’s price action is being artificially controlled.

Optimism for Bitcoin's 2025 Outlook

Despite the stagnation in Bitcoin’s price, industry watchers remain optimistic about the cryptocurrency's prospects in 2025. Price predictions for Bitcoin in the coming year range from $160,000 to above $180,000, buoyed by ongoing institutional interest and increased adoption. However, the lack of upward momentum has left many puzzled, considering the scale of institutional buying and inflows into products like US spot Bitcoin exchange-traded funds (ETFs).

Mow highlighted that major institutional players, including Michael Saylor’s Strategy, have been accumulating Bitcoin at an impressive rate. “If Bitcoin’s price isn’t moving despite institutions and retail buyers accumulating BTC, then someone must be selling,” he explained.

The Role of Sellers in Bitcoin's Stagnation

While retail investors are continuing to dollar-cost average and accumulate Bitcoin, Mow pointed out that the price of Bitcoin is ultimately determined by market conditions at the margin. This means that for Bitcoin’s price to remain stagnant, someone must be selling to match the buying pressure.

Mow also noted that the market has largely moved past the "structural sellers" who had been liquidating their positions due to bankruptcies and financial restructuring. However, new selling pressures could be emerging, particularly from entities like FTX, which has begun repaying creditors after its collapse.

FTX’s Role in Price Suppression

One key development that could be contributing to Bitcoin’s price suppression is FTX’s repayment of creditors. The failed exchange is distributing over $1.2 billion to claimants, but the repayments are based on Bitcoin’s price from November 2022, when it was trading near $20,000. Mow pointed out that these repayments could create additional selling pressure as creditors look to cash out at current prices.

“FTX is starting to pay out their dollars from selling Bitcoin, ill-advisedly, in the mid-20k range, so clearly, somebody is selling to match this,” Mow said. “Otherwise, the price would already be moving upwards again.”

Conclusion

As Bitcoin remains trapped in a narrow trading range, the lack of upward movement despite substantial institutional investment raises questions about potential market manipulation. While the broader crypto market remains optimistic about Bitcoin’s future, concerns over artificial price suppression and ongoing selling pressures, particularly from entities like FTX, continue to cast a shadow over the market's near-term trajectory. For now, Bitcoin's price action remains tightly contained, with many in the crypto community watching closely for signs of a breakout.