Prominent Trader: Binance Market Shows Bitcoin 'Protective' Buy Wall

BlockBeats News, July 24th, prominent trader Killa (@KillaXBT) posted a screenshot stating, "Textbook setup. Binance's plunge protection team is back. Usually, when large bid orders start stacking up below the price, market makers and algorithms tend to front-run them temporarily."

His screenshot shows multiple horizontal lines below the current Bitcoin price, with the most dense and prominent buy orders appearing around $58,000 and below. At the time of writing, according to HTX data, Bitcoin is trading at $64,803.44, with a nearly 0.46% price drop in the past hour.

After Bitcoin's dramatic drop below $60,000 on June 6th, large buy orders emerged below the market price on the BTC market on Binance, which Killa referred to as the "plunge protection team" making a comeback.

Killa, known as a BTC-focused quantitative trader, had predicted the peak of this bull market in May 2025, with over 200,000 followers on the X platform. In mid-April, he shorted Bitcoin at $74,688 and switched to a long position during the market-wide drop on June 5th.