Is a Single Entity Suppressing Bitcoin’s Price Below $90K?

Bitcoin trades below $90K as order-book data suggests one large entity may be influencing price action and key support levels.

Bitcoin continued trading below the $90,000 level as market participants focused on unusual order-book behavior.

Analysts said price movement appeared restricted despite strong performance in other asset classes.

Attention has now turned to whether one large trading entity is influencing short-term Bitcoin price action.

Order-book data points to concentrated market pressure

Bitcoin hovered below $88,000 during Thursday’s Wall Street session. Price action remained tight, and volatility stayed limited. Trading data showed BTC moving within a narrowing range.

Keith Alan, cofounder of Material Indicators, reviewed exchange order-book data. He said one entity may be using liquidity to influence price direction. He described the activity as a liquidity herding strategy.

“FireCharts shows the $BTC price is being suppressed by one entity,” Alan said on X.

FireCharts shows $BTC price is being suppressed by one entity using a liquidity herding strategy to push price lower, potentially to get their own bids filled, or possible to keep price pinned in the lower end of this range before Friday’s options expiry.

A significant amount of… pic.twitter.com/c63miAxBkh

— Material Indicators (@MI_Algos) January 29, 2026

He added that the strategy could aim to fill bids or keep prices pinned before options expiry.

Support levels face pressure as key ranges tighten

Order-book data showed growing bid liquidity between $85,000 and $87,500. Analysts said this range may act as short-term support.

That area could also form the base for a bounce attempt.

Alan said the buildup of bids may strengthen support ahead of the monthly close.

However, he warned of downside risk if support fails. He said closing below $87,500 could open the door to further losses.

“If January closes below the 2026 open at $87,500, that becomes the gateway to Bearadise,” Alan said. His comment reflected concern over a deeper move lower.

Related Reading: Bitcoin Faces Critical Test as FOMC Nears and On-Chain Signals Warn of Volatility

Whale activity and Wyckoff models draw attention

Other traders also pointed to a large buyer presence near $86,000. Pseudonymous trader CW described that level as a buying wall. He said whales were waiting at that price.

“The gap between the buy and sell walls is narrowing,” CW wrote on X. He added that volatility was likely to increase. His charts showed a falling wedge pattern forming.

$BTC whales are formed a buying wall at 86k and waiting.

That area is the lower line of a falling wedge pattern.

With the failure to break above the upper line, the possibility of touching the lower line has increased. pic.twitter.com/3piew4G1eb

— CW (@CW8900) January 29, 2026

Wyckoff-based analysis has also gained attention as the month-end approaches. Commentator MartyParty said Bitcoin may form a long-term low soon. He suggested a dip below $80,000 remains possible.

According to that model, such a move would act as a Wyckoff spring event. That event often precedes a trend reversal.

Charts shared by MartyParty outlined this scenario over the coming days.

Bitcoin has failed to reclaim $90,000 after repeated attempts. Analysts said large-volume traders often influence liquidity at key levels.

These actions can affect price direction and trader behavior.

Market participants continue monitoring order-book changes closely. Attention remains on support zones and monthly closing levels. The coming sessions may determine whether pressure eases or intensifies.