📉 Bitcoin Price Evolution (May 18–19, 2025)
•May 18, 6:00 AM (Romania time): Bitcoin was trading around $103,000.
•May 18, 6:00 PM: The price reached a high of $106,540, marking an increase of about 3.4% in a short period.
•May 19, 8:00 AM: Bitcoin returned to the level of $102,992, indicating a decrease of about 3.3% from the previous high.
This rapid upward movement followed by a sharp correction suggests a possible “fake breakout” or temporary market manipulation.
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📰 Relevant News and Events
1. JPMorgan’s bullish forecast
On May 18, JPMorgan issued a bullish forecast, estimating that Bitcoin could reach $150,000 by the end of 2025, citing factors such as institutional adoption and reduced selling pressure from miners.
2. Market manipulation through fake posts
A notable incident occurred when a hacker took control of the official SEC X account (formerly Twitter) and falsely posted that Bitcoin ETFs had been approved. This post led to a temporary increase in the price of Bitcoin by $1,000, followed by a drop of $2,000 after the information was debunked.
3. “Sunday Scam Pump” reported by Crypto Rover
On May 18, Crypto Rover warned of a possible “Sunday Scam Pump,” indicating an artificial increase in the price of Bitcoin, followed by a rapid correction. This move has been attributed to coordinated groups attempting to manipulate the market for short-term gains.
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🔍 Technical Analysis
•RSI (Relative Strength Index): The RSI indicator reached high values during the rally, suggesting an overbought condition, followed by a rapid decline.
•MACD (Moving Average Convergence Divergence): Signaled a bullish trend during the rally, but began to reverse with the price correction.
•Trading Volume: Volume increased significantly during the rally, but quickly decreased after the correction, indicating a possible lack of support for the upward move.
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🧭 Conclusion
Bitcoin’s price movement over the past 30 hours appears to have been influenced by a combination of bullish news and market manipulation.
