Bitcoin is currently sitting close to a crucial resistance level at $117K, and the atmosphere is charged with anticipation. There are two major forces at play here: market manipulation and psychological factors, both of which could have a significant impact not just on traders, but also on businesses looking to enter this space.<\/p>\n
Market Manipulation: A Double-Edged Sword<\/p>\n
Bitcoin’s price action around this $117K resistance has some traders scratching their heads, especially with the market being so volatile. Manipulation is rampant, as market makers and whales deploy tactics like spoofing (placing fake buy\/sell orders) and wash trading (creating fake volume between controlled accounts) to shape market sentiment. The aim? To mislead traders about the true market depth and liquidity.<\/p>\n
But here\u2019s the rub: while market manipulation can create false breakouts, it can also suppress genuine upward movement. This keeps retail and institutional traders on their toes, second-guessing their instincts based on fabricated price signals.<\/p>\n
The Psychology Behind Traders’ Decisions<\/p>\n
When it comes to Bitcoin’s $117K resistance, psychological factors are as important as technical ones. Round numbers are always a big deal in trading psychology, so traders are naturally inclined to see this area as a significant point of resistance or support. The fear of missing out (FOMO) can also create waves of buying momentum, especially if the price eventually breaks above $117K and heads toward new heights.<\/p>\n
CEOs and Crypto Payroll: A Growing Trend<\/p>\n
This isn’t just a trader’s game; small and medium-sized enterprises in Europe are also feeling the pull of Bitcoin’s potential. They understand that Bitcoin could offer some much-needed financial stability, but they must also comply with strict regulations under the EU’s Markets in Crypto-Assets Act (MiCA). This brings its own set of operational and compliance hurdles.<\/p>\n
Whether you see Bitcoin as a strategic asset or a regulatory headache, it’s more than just a trading issue; it’s a business consideration, too.<\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin is currently sitting close to a crucial resistance level at $117K, and the atmosphere is charged with…\n","protected":false},"author":2,"featured_media":35499,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[72,61,60,123],"class_list":["post-35498","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-ie","tag-ireland","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/35498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=35498"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/35498\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/35499"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=35498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=35498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=35498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}