Is Tether Manipulating Bitcoin Again? A Week in the Markets 14.08.18

The past week has witnessed a significant decline in the market, triggered by the announcement that the SEC will delay its decision on the latest ETF until September 30. This news sparked a broader bearish trend across the market.

The initial downturn in market capitalization occurred on August 8 and 9, followed by a sharper drop on the 11th as investor confidence waned. The market displayed similar patterns to these fluctuations, lingering just above the $6,000 threshold.

At that juncture, some analysts speculated that if the price dipped below the critical support level of $5,800, it could lead to further adverse movements.