Bitcoin (BTC) remained below $88,000 on the open on Wall Street on Thursday as attention shifted to order book manipulation.
Key points:
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According to evaluation, Bitcoin faces latest attempts to govern short-term price movements.
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The order book data points to key support and the danger of a visit to “Bearadise” if it doesn’t last.
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As the tip of the month approaches, Wyckoff's calls for the BTC price low turn out to be more confident.
Bitcoin on the “Gateway to 'Bearadise'”
Data from TradingView showed continued BTC price weakness, with BTC/USD moving in an increasingly narrow range.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
After failing to remain above $90,000 the day before today, frustration amongst traders continued to grow as stocks and precious metals broke records.
In his latest evaluation of stock market order book liquidity, Keith Alan, co-founder of trading resource Material Indicators, recommend a theory as to why Bitcoin was now not capable of overcome resistance.
“FireCharts shows that BTC price is being suppressed by an organization using a liquidity management technique to push the worth lower, perhaps to execute its own bids or to potentially keep the worth on the lower end of this range before options expiry on Friday,” he told X followers that day.
Alan pointed to considered one of Material Indicators' proprietary trading tools, which covers liquidations at key nearby price levels in addition to whale order volume.
BTC/USDT order book liquidity data with whale orders. Source: Keith Alan/X
As Cointelegraph reported, high-volume firms are known to influence price motion through the use of liquidity to maneuver the market, trapping less experienced traders in the method.
“A major amount of bid liquidity is concentrated within the $85K-$87.5K area to strengthen support and potentially provide a foundation for a bounce ahead of the month close,” Alan continued.
He warned that a January close below the 2026 open level at $87,500 would “function a gateway to bearadise.”
The countdown to Wyckoff BTC’s bottom continues
Further, the pseudonymous trader CW described $86,000 as a “buy wall” created by whales.
$BTC whales form a buying wall at 86,000 and wait.
This area is the underside line of a falling wedge pattern.
Failing to interrupt the upper line increases the potential for touching the lower line. pic.twitter.com/3piew4G1eb
— CW (@CW8900) January 29, 2026
“The gap between the buy and sell limits is narrowing. Volatility is coming,” said an earlier X-Post forecast.
BTC/USD chart with order book liquidity data. Source: CW/X
Previously, commentator MartyParty predicted that Bitcoin would hit a long-term low towards the tip of the month based on Wyckoff evaluation.
This could cause BTC/USD to fall below $80,000 – an event that may act as a Wyckoff Spring event before a dramatic market reversal.
MartyParty uploaded two charts showing how the event could unfold in the approaching days.
Bitcoin Wyckoff schematics. Source: MartyParty/X
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