As charted & see related ideas.
Last week, I saw a request on HARO to comment on BTC and crypto after COIN's DPO. I made a reply, though I doubt the reporter would use my material, because most are fishing for bulls.
The fact is that artificially pumping the price high is costly, and in hindsight it's probably motivated by COIN's DPO (instead of profits, shareholders benefit from selling their shares).
This is no different than AirBnB and Uber. (Ok, different because COIN makes profits due to its insane fees.)