30-8-2025 – Bitcoin dropped nearly 3% to $109,436 on Friday as traders blamed coordinated whale activity for manipulating short-term price action and triggering over $350 million in long position liquidations across cryptocurrency markets.

Market analysts identified large inflows involving market maker Wintermute and deliberate liquidity shifts designed to force capitulation among retail traders. Trader Merlijn described the activity as following “the whale playbook,” while Material Indicators co-founder Keith Alan revived the term “Spoofy the Whale” to describe the manipulative order book tactics. CoinGlass data confirmed the substantial liquidation figure as leveraged positions unwound during the selloff.

The price action follows a familiar pattern that includes consolidation, forced capitulation, and eventual breakout phases. BitBull noted that Bitcoin appears to be in the capitulation stage, which could persist for several weeks before creating attractive entry opportunities for investors.

Friday’s volatility comes ahead of the release of the Personal Consumption Expenditures Index, the Federal Reserve’s preferred inflation measure. The data could either accelerate Bitcoin’s decline or spark a relief rally, according to crypto analyst Kyle Doops. Markets are particularly sensitive to inflation readings as traders position for an anticipated Fed rate cut in September.