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

[600watt]

After launch of bitcoin at CBOE futures, I'm predicting many would sell it off and money from bitcoin will flow towards alt-coins. This might have never happened in the past, but I'm sure it'd happen this time, when bitcoin would crash a bit, wealthy and healthy alts like ETH/ETC will steal the spotlight.

Let's wait and watch the graphs though, things are getting very interesting.

lol.

[1715668121]

1715668121

[Torque]

To all those geniuses out there saying that the Futures market will be the end of Bitcoin.

If they really wanted to crash and end Bitcoin, then there wouldn't be a "future" to the Futures market that they have worked so hard and so diligently to create in the first place. Now would there?

Capisce?

Long term, it's going up. Guaranteed.

[HairyMaclairy]

This is nonsense for a very simple reason. If there is gold price increase there wr

Agree. The only valid use case I can think of would be a whale protecting their position at the top of the market when they know they have a large fiat expense coming up (eg tax) and they don't want to cash out yet. The problem is they can't use BTC to underwrite the trade (it has to be Fiat) so it's useless even for simple hedging.

Tone's recent interview with Ugly Goat explains the whole scenario well:

https://www.youtube.com/watch?v=gXUEfZY4zRk

CBOE rules allow the futures to be linked to trades of underlying positions held on Gemini, called an “Exchange of Contract for Underlying Position”.  So you can trade BTC on Gemini for BTC futures on CBOE.  And you can sell your future for real bitcoin.  


Thank

[Heater]

This is nonsense for a very simple reason. If there is gold price increase there wr

Agree. The only valid use case I can think of would be a whale protecting their position at the top of the market when they know they have a large fiat expense coming up (eg tax) and they don't want to cash out yet. The problem is they can't use BTC to underwrite the trade (it has to be Fiat) so it's useless even for simple hedging.

Tone's recent interview with Ugly Goat explains the whole scenario well:

https://www.youtube.com/watch?v=gXUEfZY4zRk

CBOE rules allow the futures to be linked to trades of underlying positions held on Gemini, called an “Exchange of Contract for Underlying Position”.  So you can trade BTC on Gemini for BTC futures on CBOE.  And you can sell your future for real bitcoin. 

Then it can be useful.

The CME one doesn't have that AFAIK.

[zoinky]

CBOE trades tomorrow?
CME Next week?

I guess it's time to bait trash talkers into shorting so heavily that they think they control things? Will be interesting to see where the hidden bull lies. I doubt 10k could be destroyed.

The dip here will be a memory to people who thought they could control bitcoin, the liquidation will be what gets to unimaginable numbers.

[HairyMaclairy]

Thank you for the expiration dates.  

No I don’t think the CME one allows direct back to backs. But I am sure all sorts of hedge funds will pop up offering back to backs.

Anyone who wanted to short has been able to do so for years on BFX. They get rekted all the time.

As for the dip, I spent the last of my budgeted fiat at $9200.  The price is going to have to come down a lot more for me to buy more. $13,000 isn’t low enough to lure me back. 

[Rosewater Foundation]

This is nonsense for a very simple reason. If there is gold price increase there wr

Agree. The only valid use case I can think of would be a whale protecting their position at the top of the market when they know they have a large fiat expense coming up (eg tax) and they don't want to cash out yet. The problem is they can't use BTC to underwrite the trade (it has to be Fiat) so it's useless even for simple hedging.

Tone's recent interview with Ugly Goat explains the whole scenario well:

https://www.youtube.com/watch?v=gXUEfZY4zRk

CBOE rules allow the futures to be linked to trades of underlying positions held on Gemini, called an “Exchange of Contract for Underlying Position”.  So you can trade BTC on Gemini for BTC futures on CBOE.  And you can sell your future for real bitcoin. 

Then it can be useful.

The CME one doesn't have that AFAIK.

This thread is useful. Thanks.
The collective intelligence of the WO is dangerous.

[Rosewater Foundation]

Useful infos: we're currently pumping backwards

[Globb0]

Threatening a bit of down again, what would be the correction that would make everyone happy?

Its not far off for me already. at somewhere between about 11-9

It dipped to 12.7 its trying.

[Rosewater Foundation]

Threatening a bit of down again, what would be the correction that would make everyone happy?

Its not far off for me already. at somewhere between about 11-9

It dipped to 12.5 its trying.

I'm fine with this. We can go up now. Thanks

[HairyMaclairy]

We are halfway down the one week candle.  Relax.

[realr0ach]

They're obviously not going to attempt to short bitcoin into the ground on day 1 of futures opening to make things too obvious (at least I think).  There's also the fact they don't want people to buy precious metals because the markets are stretched tight as is with nation states like Russia and China buying up the gold.  They want to distract people from metals so they won't buy them because they don't want anyone to have access to sound money and want you to buy bitcrap instead.  It doesn't seem like there's much reason for them to crater bitcoin right now unless they notice everyone is converting artifically inflated bitcoin profit to metals.  That would be the "oy vey, the goyim know! shut it down!" moment.

[Rosewater Foundation]

We are halfway down the one week candle.  Relax.

It's just...I think I can see the Earth out there. I never want to go back.

[HairyMaclairy]

Roach:  nothing would delight me more than $3k Bitcoin tomorrow.

[ragnar0k]

The FUD is strong these days, almost reminds me when BCH was a thing XD

[Rosewater Foundation]

The FUD is strong these days, almost reminds me when BCH was a thing XD

If we can hold these losses until Monday it will help to shake loose more coins.

[ragnar0k]

The FUD is strong these days, almost reminds me when BCH was a thing XD

If we can hold these losses until Monday it will help to shake loose more coins.

Yep, for the happyness of banks, I am out of fiat

[HairyMaclairy]

We are halfway down the one week candle.  Relax.

It's just...I think I can see the Earth out there. I never want to go back.

https://youtu.be/K2ku1A5Ox8U

Crank the volume and learn to love it.

[Rosewater Foundation]

We are halfway down the one week candle.  Relax.

It's just...I think I can see the Earth out there. I never want to go back.

https://youtu.be/K2ku1A5Ox8U

Crank the volume and learn to love it.

https://youtu.be/6P2FB9Mg_YI?t=2m13s

[fabiorem]

The FUD is strong these days, almost reminds me when BCH was a thing XD

Some people might FUD because theres no clear explanation of how futures work, and we dont know who have been pumping bitcoin recently. It could be hedge funds who are going to sell contracts in CME, and we dont know if the banksters who are against bitcoin will be their clients or not. So some people are shorting, based in this fear, I think. If you are going to short, just short some small bit, hold the rest, because fiat is not worthy it, unless you really want it to pay bills.