Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Lainta]

https://twitter.com/LinaSeiche/status/1635268826697969664?t=zz7T-hFnD-v-WpGYUhdrDA&s=19

[Paashaas]

Stocks banksters down.

Bitcoin up.

[dragonvslinux]

Give the recent issues with USDC, Binance have decided to pump the price of BTC, BNB and ETH by dumping their $1 billion IRI stablecoin holding

Given the changes in stable coins and banks, #Binance will convert the remaining of the $1 billion Industry Recovery Initiative funds from BUSD to native crypto, including #BTC, #BNB and ETH. Some fund movements will occur on-chain. Transparency.

Source: https://twitter.com/cz_binance/status/1635131601884700674

Clearly should of just gone 100% Bitcoin. Ethereum isn't a reserve asset due to the upgrades that take place while BNB is probably less reliable than USDC. But of course, he shills his exchange token in the process even if only a small percentage goes into it (knowing it's not a reliable SoV). Who was it that said stablecoin failings was bad for Bitcoin? So far price is up +10% and not showing any signs of slowing down.

Doubt my $19.2K bid will get filled now, still managed to get $20.2K. Maybe quick pull-back to $21.5K before further upside? Should have just put it all on the 200 Day MA at $19.7K in hindsight. Didn't expect the bullish bounce from support to be so "picture perfect", was anticipating a bit more mess with bear trap, rather than bullish continuation. Now price has left the $19K to $21.5K accumulation zone again.

Anyway. Another day, another pump. Back above $23K local distribution zone and price will be re-testing again $25K in no time. 50 Week MA resistance now at $23.1K, down from $24.7K.

[philipma1957]

Give the recent issues with USDC, Binance have decided to pump the price of BTC, BNB and ETH by dumping their $1 billion IRI stablecoin holding

Given the changes in stable coins and banks, #Binance will convert the remaining of the $1 billion Industry Recovery Initiative funds from BUSD to native crypto, including #BTC, #BNB and ETH. Some fund movements will occur on-chain. Transparency.

Source: https://twitter.com/cz_binance/status/1635131601884700674

Clearly should of just gone 100% Bitcoin. Ethereum isn't a reserve asset due to the upgrades that take place while BNB is probably less reliable than USDC. But of course, he shills his exchange token in the process even if only a small percentage goes into it (knowing it's not a reliable SoV). Who was it that said stablecoin failings was bad for Bitcoin? So far price is up +10% and not showing any signs of slowing down.

Doubt my $19.2K bid will get filled now, still managed to get $20.2K. Maybe quick pull-back to $21.5K before further upside? Should have just put it all on the 200 Day MA at $19.7K in hindsight. Didn't expect the bullish bounce from support to be so "picture perfect", was anticipating a bit more mess with bear trap, rather than bullish continuation. Now price has left the $19K to $21.5K accumulation zone again.

Anyway. Another day, another pump. Back above $23K local distribution zone and price will be re-testing again $25K in no time. 50 Week MA resistance now at $23.1K, down from $24.7K.

I got some at 21.3 and some at 20.2 passed on 19.9. I got my dca at 21.2

[ChartBuddy]

Explanation

[Richy_T]

HSBC just bought the UK arm of Silicon Valley Bank for £1.

https://www.bbc.com/news/business-64937251

HSBC has agreed to buy the UK arm of collapsed US Silicon Valley Bank (SVB), bringing relief to UK tech firms who warned they could go bust without help.

Customers and businesses who have money deposited in SVB UK will be able to access it as well as other banking services as normal.

The Treasury said the deal with HSBC involved no taxpayer money and the Bank of England said deposits were secure.

HSBC said it paid just £1 for the SVB's UK arm after it failed on Friday.

The bank that got convicted for massive money laundering and got a slap on the wrist?

What could go wrong?

[Gachapin]

escalating quickly

$23,350

$23,512

[Torque]

RIP Credit Suisse

[ChartBuddy]

Explanation

[LFC_Bitcoin]

Observing $24,015

Pump it baby!

BTC

[Hamza2424]

What just happened i am not  at all sure, Is the SVB panic is no more..
I wasj just sleeping for 3 hours and then a calll from my friend ( hey buddy BTC is is trading above $24k and i was like what what you just said .. But its really Broken.)

Looks like i need to sleep for 3 more hours and then BTC will be on the 26k+

[BitcoinBunny]

Pump it!

[JimboToronto]

Good morning Bitcoinland.

Up from under $22k to over $24.6k in less tha 3 hours. How sweet it is.

Looks like $25k is safe for now but let's see what happens after the market digests this.

A little sideways would be healthy now. Then we can get back to correcting the ridiculous dip below $40k.

...NY Regulators swooped in and confiscated all assets and operations...

Ahhh, the land of the free.  

[ChartBuddy]

Explanation

[philipma1957]

Explanation

Leaving buddy to do his own thing seems to have been simply brilliant on my part. (maybe just lazy)

24k

[Torque]

Man, soooo much social media effort being expended to bolster public trust and quell the public to NOT do a bank run.

But you know who is moving their money out of these smaller banks? The wealthy, that's who.

Which means in a bank that doesn't have enough cash on hand to cover all depositors, they will have even less now.


https://twitter.com/BillAckman/status/1635109889302315008

[OgNasty]

This recent market strength has been impressive. You can tell that people are now using crisis as opportunity to grab themselves more BTC on the cheap. This is a pretty good sign that Bitcoin is currently undervalued and is being scooped up by investors. I wouldn’t be surprised if this strength carries us to $30K. It seems obvious the bottom for this cycle is in and a multi year bull market has begun.

[Biodom]

Bill Ackman calls to guarantee ALL deposits....temporarily.

https://twitter.com/BillAckman/

My comment: long bets are being placed.

https://twitter.com/RepThomasMassie

Wowsie...really?

https://twitter.com/NorthmanTrader

predicts a short term run up like in 2008, post Bear, up to 14% in S&P, duration of about two mo.

[ChartBuddy]

Explanation

[BobLawblaw]

Which means in a bank that doesn't have enough cash on hand to cover all depositors, they will have even less now.

I'm just trying to figure out how Charles Schwab, a historical investment savings and loan bank, got shut down trading today.

To the best of my fundamental understanding of Schwab, they are extremely crypto averse, and have questionable if any ties to the larger contagion.

Shit is super fucked up today.