Seems right to me, either that or they are actually trying to destroy bitcoin here. |
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I am in utter disbelief we just shouldn't be here.  maybe 17.6 k was bottom? it was the high number for miner support bottom There is no bounce, none. I don't beleive we have hit it till we see a bounce and at this rate that might be never. This is an attack and they waited for the weekend, both this time and last weekend for prior attack |
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I am in utter disbelief we just shouldn't be here. |
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This is an attack on Bitcoin. They are out to destroy us and it seems the exchanges have been forced to cooperate. That is the only excuse I can find for this mess.
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lol  They will rekt these longs before market goes up any further. Many people reckon these are hedges of spot short positions What ever it is, it has something to do with these falls I know it. EDIT: Actually this is probably the whale/s who are driving the price down. By hedging with long futures it means they don't have to buy their short spot position back. The short trade does not need to be closed then, essentially preventing an increase in price. |
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Lot more activity on the mempool now. I think people are giving up.
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Looking at USDT and USDC is interesting. USDT is dropping, USDC is increasing. Perhaps this is one large seller dropping the market, and he is exiting through Tether.   |
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Yeah think that happend a day or 2 ago. They're all coming out of the woodwork now. I think Bitcoin is teaching them that there is nobody to bail you out if you go down. In the normal banking world a liquidity of 10% is enough. In Bitcoin country you need 100% backing. Wish they knew that from the start. |
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Buyers nowhere to be seen it seems. 18k - 15k on the menu.
Not that I would ever accuse you of having a crystal ball, but... how fast do you think it can go to, say, $17,100? Asking you because you seem to have canny instincts; and you are pro-Bitcoin, but realistic—not a Hopium addict. I am perfectly well aware that there is no way you can predict it... just looking to compare hunches.
For future historical readers: We dropped in one shot from $20k to $19k, in such a neat $1000 increment; and now, we are suddenly struggling to hold $19k. Asking for a friend who seems to have very limited time to come up with some dollars...I wish I could give you an answer. All I can say is that I think we will only go up again when either the Fed pivots or the price gets lower enough that us hodlers have enough buying power using the incomes that we gerate from our labor. The halfing in 2 years time will help with the latter. We either need cheap debt, or enough cash. |
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Yeah think that happend a day or 2 ago. They're all coming out of the woodwork now. |
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many bought around the 200WMA, but slowly we get into the price territory where people start to be afraid to buy... that's when smart money loads up and bottoms get formed..
However the market seems so manipulated rn with these forced liquidations that that kind of thinking might be useless
In order to dump coins one has to have coins...  Not if exchanges are creating them out of thing air. |
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Some more volume coming through in the mempool now. Maybe some alarms going off and those people shifting coins.
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Well, that's one way to decouple. Someone is liquidating big time
Why wait for the weekend though, they should of done it yesterday. There were huge ask walls hovering above $20k trying to extract the max value, looks like volume at $20k dried up so they decided to push lower, now hovering above $19k looking for buyers. But you are right, timing feels nefarious, Fri night into Sat in US, like long squeezes back in the day, so no one could get fiat into exchanges till Monday. I guess there are still these various lending companies they wanna liquidate... I think this is the biggest problem. Degens have borrowed on top of borrowing and it's all coming undone now. Not sure how deep we go but just broke into the 18's so still some pain yet it seems Very easily see us getting to 15k this weekend |
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Well, that's one way to decouple. Someone is liquidating big time
Why wait for the weekend though, they should of done it yesterday. |
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That red dildo on a weekly is ENORMOUS!  Please, can we have a dead cat bounce at least? There just isn't any demand. This bleeding is probably going to keep going, liquidations still to come many think. That is an even weirder looking chart movement than I recall from the initial crash May 5... or the very rapid crash June 13. It also reminds me of the incremental $500–$1000 down movements between about May 5–10 or so (IIRC), as I have mentioned to you—except that now, $1000 is 5%... huge. It looks to me like a high-capital sophisticated player has developed a systematic way to punch downward through support, and is applying it to break Bitcoin’s back. In early May, I questioned myself. A few days ago, I hesitated. Now, I am settling on “unproved, but highly probable”.
RIP 200 WMA. Bye-bye Schelling point for a Bitcoin Bottom.That is what worries me, NOT the current price in itself. I am thinking that this is to equalize Bitcoin’s status with POS altcoins. Altcoins have no bottom. Buy alts, even relatively good ones, and you can just watch them drop as you think to yourself, “Oh, dear. This thing has no bottom. Nothing like Bitcoin’s 200 WMA line.” That is what concerns me for political reasons and Bitcoin idealism, not mere market speculation. They are trying to break the Honey Badger: For it is a challenge, a threat to financial corruption. This was my realistic worry, thinly veiled as dystopian fiction to avoid FUDding Bitcoin or coming off as a bear.I don't doubt your theory. |
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And at what price do you invest it? What I'm wondering really is at what point does this thing get bought at by those with free cash (if there is any). I know you don't know that so feel free to ignore. Looking at the price all I'm seeing is limit orders, there are no market buys any more. Been this way for a while now. Plenty of market sells though. These 24/7 markets have their downsides. I hate watching this crap at the start of a weekend. |
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That red dildo on a weekly is ENORMOUS! Please, can we have a dead cat bounce at least? There just isn't any demand. This bleeding is probably going to keep going, liquidations still to come many think. |
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mempool isn't filling up yet though, so maybe there aren't many dumpers left (yes I'm clutching at straws here).
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