🐳 Spoofy Whales Push Bitcoin Below $110K Ahead of PCE Data

[lingriiddd]

Bitcoin slid nearly 3% on Friday, dipping to local lows of $109,436, as suspicious whale activity sent ripples through the market.

The Whale Playbook in Action

Traders point the finger at large whale inflows to market makers like Wintermute.

“This isn’t noise. It’s the whale playbook,” noted trader Merlijn, flagging coordinated BTC + ETH moves.

The pattern feels familiar: consolidation → capitulation → breakout → rally.

Right now? We’re sitting in the capitulation phase, which some argue could last weeks but also offer juicy entries.

Adding to the drama, Keith Alan of Material Indicators revived his old nemesis: “Spoofy the Whale.” This entity allegedly manipulates order books with fake liquidity to steer price action and trap over-leveraged traders.

Liquidations Pile Up

In the past 24 hours, $350M in crypto longs were liquidated, amplifying volatility.

Bitcoin alone slid $3,000 within hours, flushing traders and triggering a sharp reset.

Macro Lens: PCE Inflation Incoming

Beyond whale games, traders now watch the US PCE Index — the Fed’s favorite inflation gauge.

A hotter-than-expected print could pressure risk assets further.

A cooler read might spark a relief rally heading into September’s anticipated rate cut.

As analyst Kyle Doops summed up:

“Fed’s favorite gauge could either fuel the dump… or light the relief rally.”

Takeaway

Between whale spoofing and macro headwinds, Bitcoin is wobbling under $110K. Whether this is a trap before the next breakout or the start of deeper pain may hinge less on whales… and more on Friday’s inflation data.

Question for the forum: Do you think “Spoofy the Whale” is really manipulating BTC, or are traders just using whales as a convenient scapegoat for macro-driven dips?

[Nahid10]

@lingriiddd
This is a massive development. If AMBTS really pushes toward 1% of total BTC supply, that’s going to accelerate scarcity and could be a strong long-term bullish catalyst. Just like MicroStrategy, these dedicated treasuries reduce liquid supply and create upward pressure. The more companies treat BTC as a treasury reserve asset, the closer we get to true mainstream adoption.

[Maxwell]

I think whales definitely play a role, but blaming everything on “Spoofy” feels like an easy out. Macro still drives the bigger picture — especially with PCE right around the corner.

[Nahiar806]

Spoofy or not, the capitulation pattern is textbook right now. If BTC holds this zone, it could be a solid setup for the next leg higher once the macro dust settles.

[rafihasan]

It’s probably both — whales exploit thin liquidity to push price, but the real direction comes from macro catalysts. Inflation print this week will tell us if the bounce has legs or not.