Market spike is not only needed in crypto market but also the sign of whales playing the tactical games of always taking advantage of every market situation, just like the political outplay with the fed and rate that have made the stock market to become as volatile and manipulated, yesterday $800,000,000,000 was liquidated from the US stock market, and not up to 24 hours a new inflow of printed money flown into the stock market as reported.
This is how whales make people confused; they actually use fundamentals to build fear and then later they enter again. The tactic is they sell and buy at much lower prices; they liquidated the $800 billion and then reentered with $750 billion. This is a short-term manipulation that makes people to sell and, I think, also hook limit orders.
For now, the current condition of Bitcoin, it seems we are already slightly bearish and going to go out from the slightly bullish consolidation phase, and I think it's much more attractive to liquidation around $61k, where most of the liquidity is currently sitting.
Whales and big players are the ones who have large influence on the market; they can even manipulate the news that leads other traders to sell or buy.