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

[greensheep]

the panic is real

[1713996098]

1713996098

[somac.]

Still not a lot of volume out there

[greensheep]

Bounce @ 42k?

[bitcoinPsycho]

I blame bitcoin twitter.

They jinxed it with laser eyes.

Agreed

[somac.]

I blame bitcoin twitter.

They jinxed it with laser eyes.

Correction. They brought on a BTC sale for us with their laser eyes.

Buy! Buy! Buy!

[ivomm]

I blame bitcoin twitter.

They jinxed it with laser eyes.

[ElBinBit]

Tesla has created a New Indicator!




https://twitter.com/Workedia/status/1363991425017241601/photo/1

[El duderino_]

Last late morning for me brothers, my old outfit still fits perfect...



Good the car still works

[dieselmeister]

is it possible, that on every end of a month we get the larger dips, because the cme futures are expiring and someone shorted them. Saw the charts. They shorted the future a lot (hedge funds). So when the month is over, we get back to "normal" and then the game starts again. would nice if someone anounce on thurthday something like "company XXXX bought bitcoin for 3 Billion". Then they get rekt so deep, that they didn't try this again. Or we need a "movment" to stop these fuckers.

[Wekkel]

It's just clearing the books. Let them. Bitcoin Hodler not affected.

[UnDerDoG81]

is it possible, that on every end of a month we get the larger dips, because the cme futures are expiring and someone shorted them. Saw the charts. They shorted the future a lot (hedge funds). So when the month is over, we get back to "normal" and then the game starts again. would nice if someone anounce on thurthday something like "company XXXX bought bitcoin for 3 Billion". Then they get rekt so deep, that they didn't try this again. Or we need a "movment" to stop these fuckers.

Yes couple good Youtubers also told so. I dont know about that. But this correction was badly needed to continue the bull market. I think it's not completely over yet. But it was damn healthy. No selling no loss. We are now at 3k levels of 2017 if things play out similar. A long way to go to the top.

[marcus_of_augustus]

Yellen and Musk taking a shit on bitcoin together, right around options expiry

USA is so thoroughly corrupted, morally, ethically and financially, that the putrid pile of chaos that will be left behind after it implodes on itself will burn for decades

[BitcoinBunny]

Hey Babe, fancy a ride, I'm a Bitcoin Hodler.



Sure sweet honey anytime, where's your orange Lambo car at?



It's right here.




WTF?!



Like I said I'm a Bitcoin Hodler.

[bitcoinPsycho]

Yellen and Musk taking a shit on bitcoin together, right around options expiry

USA is so thoroughly corrupted, morally, ethically and financially, that the putrid pile of chaos that will be left behind after it implodes on itself will burn for decades

Agreed

[aesma]

Bisq flashing on my left monitor, a sell has happened, then I look at the price : less than 39000€ WTH ! (not my selling price, but the average price)

Bought back with my usual profit elsewhere so no issue, in fact if it's crashing there is no risk for me, but I need to buy before a bounce.

The price on Kraken is moving like mad, I'm removing my offers, don't need that stress right now.

[UnDerDoG81]

Yellen and Musk taking a shit on bitcoin together, right around options expiry

USA is so thoroughly corrupted, morally, ethically and financially, that the putrid pile of chaos that will be left behind after it implodes on itself will burn for decades

What did Musk say? His tweets are one day old.

[aesma]

Well, as I said it's best to have fiat (shitcoin) for this one. Which is why I won't do it. But, basically you buy however many BTC on the spot for current price of 55000. At the exact same time you sell a future, perhaps Sep 26th for this example, for the same number of BTC at a current price of 62700. profit equals 7,700 minus fees per coin

This can be done using CBOE and CME as well as many others, perhaps less reputable exchanges.

The risk for this trade is couter-party only and of course opportunity cost (there is no possiblity of capital gains or losses). Not your keys not your coins. Thing is it's all about levels of risk and what you are comfortable with in the end as well as your goals. Just remember nothing is risk free. Even holding your own keys is not risk free, there are roughly 4million inaccessible coins to prove that.

*Above prices are taken from Deribit.

How does this work exactly? I would love a bit more ELI5.

I posted a link earlier, here it is again.
https://blog.bitmex.com/how-to-arbitrage-bitcoin-futures-vs-spot/

The WO sometimes must be combed thoroughly, but it usually does deliver good info - be it bitcoin or digital cameras.

Or you're just halftrolling and... username checks out?  

I don't believe CBOE offers BTC futures anymore. And i don't see Sept futures on CME. They're not trading now but i believe June futures were trading at around 7% premium. What you're forgetting is that CME is cash settled so they won't take your BTC as collateral for margin. Thus you'd actually need to lock up 150%, 100% to hedge with real BTC and then 50% to post for margin. At 150% that would bring actual premium down from 7% to 4,7%
As far as risks, you're forgetting that if BTC goes up before your settlement date you're gonna get margin called and will need to come up with more cash, or get automatically closed on a spike.

Also transfer times might be an issue, you'd need to sell your BTC and transfer funds to yourself and then to your broker at settlement.

Sure there are some premiums to be had if you want to tolerate the risk, just don't try to claim "140% returns with 0 risk"

I thought this seemed too easy. If the future was settled in BTC and collateral was in BTC that would be good, free money with no risk, but if everything is in fiat, that's another story entirely. And when you sell BTC to settle the future there are capital gains.

[AlcoHoDL]

Good morning all.

Bloodbath. Shitcoins too.

Looks like $60k must be postponed for a few more days...

Lasers on.

[El duderino_]

Good morning all.

Bloodbath. Shitcoins too.

Looks like $60k must be postponed for a few more days...

Lasers on.

Few days seems reasonable

[GreekCoiner]

Well, he definitely deserved this answer!
http://prntscr.com/104prrp

https://twitter.com/elonmusk/status/1364128031434887170