Binance Faces Market Manipulation Concerns
Binance is under scrutiny after traders claimed the exchange sold large amounts of Bitcoin (BTC). This reportedly caused sharp price changes, raising market manipulation concerns. On Monday, while the crypto market saw a major sell-off, Binance Coin (BNB) traded steadily. According to CoinMarketCap, BNB was above $980, down just over 5% in 24 hours.
Trader Merlijn The Trader highlighted on X that Binance CEO Changpeng Zhao (CZ) said, “Maybe we haven’t hit the real bull market yet,” while Binance was selling significant Bitcoin amounts. This sparked speculation that Binance might influence market trends.
Merlijn also noted a pattern: “Every time CZ tweets ‘BUY THE DIP’ → Bitcoin pumps. Every time he hints ‘BULL MARKET’ → Bitcoin dumps.” Traders now question if CZ’s posts serve as insider signals.
Stablecoin Inflows Increase Before Market Drop
On-chain data adds to the questions. Analyst Rekt Fencer pointed out that Binance accumulated large stablecoin amounts as the market crashed. He asked if this was a coincidence or insider knowledge.
According to CryptoQuant, Binance received $2.1 billion in stablecoin inflows on September 17. This was just before the Federal Reserve’s first rate cut since December 2024. Coinbase saw $1.6 billion, and other exchanges combined recorded $3 billion. Observers believe Binance may be preparing for a future rally.
Ethereum Market Also Shows Signs of Manipulation
Ethereum (ETH) markets appear affected as well. Analyst Ted claimed Binance is manipulating ETH and the altcoin market. He said Ethereum was close to breaking $4,000 due to strong institutional demand.
However, Ted accused Binance of dumping millions of ETH through market maker accounts. This raised concerns that customer funds might be involved, increasing community distrust.
The crypto community is actively discussing Binance’s actions. Questions about market fairness, transparency, and trust continue to grow.
