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

[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.

[HI-TEC99]

...

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.

[El duderino_]

[Biodom]

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.

what this has to do with "crypto" in the first place?...that s-t is completely unrelated and is primarily caused by the loan book losses due to the fast increases in interest rates.
As now become apparent, FED told people in Dec 2021 that they would raise 1% in 2022. Instead, they did 4% or more.
Accordingly, it becomes clearer why SVB bought MBSes yielding 1.5% in Dec 2021. Those are the securities they have 10% loss in, which gave them 2bil loss on a 20bil forced sell, which precipitated the whole shebang.

I noted the SChwab, though, but they are trading now off the lows, only 10% down.

[Lucius]

The thing when Sacks realizes that banks sucks, priceless almost like Bitcoin

[ivomm]

JUST IN - IMF warned G-20 that widespread #Bitcoin and crypto use could cause banks to "lose deposits"

https://twitter.com/BitcoinMagazine/status/1635234428380381184?s=20

[cygan]

[HI-TEC99]

The U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry. Those reforms combined with today's actions demonstrate our commitment to take the necessary steps to ensure that depositors' savings remain safe.

"aLL SaVIngS DepOSiTs ArE SaFU"

Only one way to find out: pull yer money out, folks.

[AverageGlabella]

How many more banks are going to get bailed out this year? I see that Bitcoin has been increasing ever since the Silicon Valley bank has been bailed out which might be people coming to Bitcoin because they have lost faith in the bank and could cause a bull run before the 2024 halving. It might be the perfect time for banks to fail because it will push more people to Bitcoin and then the halving being a good time to boost the price it might be a good year or 2 for Bitcoin because of the banks failing.

[BobLawblaw]

what this has to do with "crypto" in the first place?

Jeopardy: "A recent Silicon Valley-based bank that was a major player in providing fiat liquidity for the crypto exchanges"