In a twist that might surprise the crypto faithful, Wall Street is being accused yet again of manipulating Bitcoin prices. But hold on—James “Checkmate” Check, a well-respected Check On Chain analyst, isn’t buying it. During a candid conversation on the G’day Bitcoin podcast, Checkmate peeled back the layers on these conspiracy theories, arguing that what some see as price suppression is actually just the market doing its thing.
The Allegations and the Analyst
The buzz around Wall Street’s alleged grip on Bitcoin isn’t exactly fresh news. These theories tend to bubble up whenever the market hits a lull. But Checkmate sheds light on this phenomenon with a different lens. “It’s easy to point fingers when prices don’t move the way we want,” he remarked on the podcast, suggesting that the narrative of manipulation oversimplifies a complex market landscape. This sentiment echoes recent observations in Bitcoin Market Faces Sharp Deleveraging as Investors Exit Risk Positions, where market dynamics are influenced by broader economic shifts.
Checkmate goes on to explain that Bitcoin’s apparent stagnation is often a natural outcome of its market cycle. “Volatility is part of the game,” he notes, emphasizing that what may appear as external tampering could just as easily be the market’s natural ebb and flow. It’s a game of patience and perspective, not puppetry.
Market Mechanics and Misunderstandings
So, what’s really going on? According to Checkmate, much of the confusion stems from a lack of understanding of Bitcoin’s unique market dynamics. “The crypto space operates on its own set of rules,” he explained. Unlike traditional financial markets, Bitcoin’s value is heavily influenced by a cocktail of factors including regulatory news, technological innovations, and even social media sentiment.
He further illustrated his point by delving into Bitcoin’s historical price movements. “Look at the patterns,” he urged listeners, pointing to previous periods of price consolidation that were followed by significant upswings. While Wall Street might have the clout to sway markets, it’s the broader economic forces and investor sentiment that truly drive Bitcoin’s price. This is further analyzed in Bitcoin Price Slips Below $100K, Hinting Oil-Led Risk-Off on Wall Street, where external factors like oil prices are considered in market evaluations.
The Bigger Picture
While Checkmate’s insights bring a semblance of clarity, they also raise questions about the broader implications for the crypto industry. If these allegations persist, how will they shape public perception and policy?
Crypto enthusiasts might remember the tumultuous days of 2022 when regulatory crackdowns and market volatility painted a grim picture for digital assets. Yet, here we are in 2025, with Bitcoin continuing to capture the imagination of investors worldwide. This resilience underscores a key point: Bitcoin’s story is far from over.
However, as the market evolves, so do the challenges. With increasing institutional involvement, the crypto landscape is getting more crowded—and competitive. While this brings more stability, it also means higher stakes and sharper scrutiny.
Looking Ahead
As we peer into the future, Checkmate’s perspective offers a reminder to stay grounded. The crypto market, with all its unpredictability, is not immune to the forces that govern traditional financial systems. Whether or not Wall Street is pulling the strings, the underlying message remains clear: understanding and patience are critical.
So, what’s next for Bitcoin? The market’s current state leaves plenty of room for speculation and excitement. But as Checkmate suggests, perhaps the more valuable pursuit is to embrace the complexity and keep a watchful eye on the horizon. After all, in the ever-shifting world of cryptocurrency, today’s conspiracies could well be tomorrow’s insights.
Source
This article is based on: Wall Street Caught Manipulating Bitcoin? Expert Tells The Truth
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
