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

[dragonvslinux]

All this price action... But so little retail volume.

This is incredibly bullish in my opinion. 

Who is buying?

Not a lot of people? Neither retail nor institutional is showing any decent volume right now as price continues to move upwards.

The relevance is there is a lack of sellers in the market right now, hence very low supply on exchanges at the moment.

Imagine what happens when there is buying pressure 

Bullish

[1713564392]

1713564392

[Torque]

All this price action... But so little retail volume.

This is incredibly bullish in my opinion.  

Who is buying?

Not a lot of people? Neither retail nor institutional is showing any decent volume right now as price continues to move upwards.

The relevance is there is a lack of sellers in the market right now, hence very low supply on exchanges at the moment.

Imagine what happens when there is buying pressure  

Bullish

Yes. At this point 99% of all 'price pressure' is all institutional or whales. The float is just being challenged, as it is a mere fraction of what people think is available for trade (and getting smaller by the day).

[cAPSLOCK]

All this price action... But so little retail volume.

This is incredibly bullish in my opinion. 

Who is buying?

Not a lot of people? Neither retail nor institutional is showing any decent volume right now as price continues to move upwards.

The relevance is there is a lack of sellers in the market right now, hence very low supply on exchanges at the moment.

Imagine what happens when there is buying pressure 

Bullish

That's my point.

But Something (someone, someones?) is vacuuming all the chips off the exchanges.  They are not being sold, but withdrawn.

So either the OTC market knows how to hook up whales with shadowy buyers, or the exchanges themelves are going short.

There is no situation I can think of where this does not absolutely explode up.

The ONLY scenario I can think of that is not bullish is a coordinated attack at the nation state level where they quietly buy huge positions with the intent to dump them on retail and crash the price of bitcoin.  That idea is all but tinfoil hat insanity.  It IS true that bitcoin stands to be majorly manipulated via the retail exchanges... but for some reason no one is trying that, and it looks very strongly that large positions are being taken (as they have been being for over a year now) behind the scenes.

And we are running our of cheap coins.

Hodl.  (I never say that... but I am invoking it as a spell now...)

[dragonvslinux]

All this price action... But so little retail volume.

This is incredibly bullish in my opinion. 

Who is buying?

Not a lot of people? Neither retail nor institutional is showing any decent volume right now as price continues to move upwards.

The relevance is there is a lack of sellers in the market right now, hence very low supply on exchanges at the moment.

Imagine what happens when there is buying pressure 

Bullish

That's my point.

I know it was 

But Something (someone, someones?) is vacuuming all the chips off the exchanges.  They are not being sold, but withdrawn.

So either the OTC market knows how to hook up whales with shadowy buyers, or the exchanges themelves are going short.

There is no situation I can think of where this does not absolutely explode up.

I think it's most likely exchanges at this point, they also know the drill. They have the infrastructure to "trickle off" their coins to cold storage, without triggering to much interest from blockchain analytics firms like glassnode. It it were whales, you'd see much bigger chunks being withdrawn, that as far as I understand isn't quite the case right now. That was more like the $30-40K range with higher trading volume, when a lot of evidence pointed to institutional accumulation as opposed to distribution. Ie retail selling to institutions, as opposed to the other way round.

The ONLY scenario I can think of that is not bullish is a coordinated attack at the nation state level where they quietly buy huge positions with the intent to dump them on retail and crash the price of bitcoin.  That idea is all but tinfoil hat insanity.  It IS true that bitcoin stands to be majorly manipulated via the retail exchanges... but for some reason no one is trying that, and it looks very strongly that large positions are being taken (as they have been being for over a year now) behind the scenes.

This is basically it. Apart from the same old-age conspiracy theories that would explain why price is so high without much buying volume, it's simply just bullish. Sometimes, rarely, this is simply the case!

And no China is talking of un-banning Bitcoin again? Guess they got their $40K buy orders filled then 

[ChartBuddy]

Explanation

[JayJuanGee]

All this price action... But so little retail volume.

This is incredibly bullish in my opinion. 

Who is buying?

Not a lot of people? Neither retail nor institutional is showing any decent volume right now as price continues to move upwards.

The relevance is there is a lack of sellers in the market right now, hence very low supply on exchanges at the moment.

Imagine what happens when there is buying pressure 

Bullish

That's my point.

But Something (someone, someones?) is vacuuming all the chips off the exchanges.  They are not being sold, but withdrawn.

So either the OTC market knows how to hook up whales with shadowy buyers, or the exchanges themelves are going short.

There is no situation I can think of where this does not absolutely explode up.

The ONLY scenario I can think of that is not bullish is a coordinated attack at the nation state level where they quietly buy huge positions with the intent to dump them on retail and crash the price of bitcoin.  That idea is all but tinfoil hat insanity.  It IS true that bitcoin stands to be majorly manipulated via the retail exchanges... but for some reason no one is trying that, and it looks very strongly that large positions are being taken (as they have been being for over a year now) behind the scenes.

And we are running our of cheap coins.

Hodl.  (I never say that... but I am invoking it as a spell now...)

You are describing some of the dynamics of exchanges as if they are new, and largely, they are not.. unless I am missing something that you are saying.

Largely since exchanges have been in existence.. budding with MTGOX in 2011 and a few others and expanding their existence into 2013 and thereafter adding and adding, the BTC price has been largely established through exchange activities, and many of us have speculated about various ways in which OTC trades are happening and exchange prices are being manipulated - simultaneously.. for example, covertly buying through OTC and dumping on exchanges.

Practices of manipulating BTC prices is not new, only the vehicles of liquidation have changed over the years so the dynamics of how to manipulate and how many exchanges have to be used have changed and likely many of us are not going to have a lot of insight into exact specifics without being either having access to exchange data or maybe being a whale ourself who has BTC/fiat on a large variety of exchanges... so it seems pretty likely that the manipulation capacities have become more and more difficult including the number of exchanges (and other liquidation avenues) and the quantity of value that has to be available to achieve such manipulation.. and is surely not outside of the capabilities of the BIGGER players.. even if there still might be questions whether some BIGGER players (such as governments or financial institutions would like to risk reputation/losses to be discovered as a BTC price manipulator.. sure some have no shame, and some likely believe that they could not be caught.. but some of us normies might not have access to the kind of information regarding if any of them are really going down such a manipulation path.. to risk potentially getting reckt if they really do not have enough capital to keep throwing at the matter - such as the employment of fractional reserves...ie bitcoins that do not actually exist that they have to purchase with dollars or some other form of fiat).

I am not even really disagreeing with your overall conclusion, cAPSLOCK, because it seems that no matter whatever playing around might be happening or attempting to be happening, there still seem to be difficulties to fight what seems to be our ongoing UPpity price pressures.. and yeah, we could end up having a double top because anything can happen, even though the odds of such a "double top" bet seem to be one that is not too likely to play out..

in udder wurds... keep stacking boyz.. especially if u have not adequately prepared ur lil selfies for UP...

 

This is basically it. Apart from the same old-age conspiracy theories that would explain why price is so high without much buying volume, it's simply just bullish. Sometimes, rarely, this is simply the case!

And no China is talking of un-banning Bitcoin again? Guess they got their $40K buy orders filled then 

China is surely earning a reputation for ongoingly and continuously shooting themselves and their citizens in the foot/feet (as Dabs mentioned), so would not speculate for sure that the government has actually gotten any meaningful advantage from their wiffle-waffling about the bitcoin topic.  Of course, there are going to be some insiders (whether with the government or otherwise connected to insider information) who will be able to profit from these kinds of crazy-ass and seemingly inconsistent behaviors/policy positions, but I would not conclude that level of corruption as intentions of the policy makers to personally profit.. that just is assuming way too much corruption rather than really having had believed that they were doing the right thing by banning bitcoin and then later having to reverse themselves (without really admitting that they are reversing themselves).

[serveria.com]

Prolly been posted before (too lazy to scroll back haha) but this looks fooking BIG guys: https://www.coindesk.com/business/2021/10/25/mastercard-is-integrating-crypto-payments-through-a-new-partnership-with-bakkt/  

Last week, American Express CEO Stephen Squeri said he doesn’t currently see crypto as a threat to traditional credit cards.

 

[Torque]

https://twitter.com/AuronMacintyre/status/1452454861719674887

[El duderino_]

https://www.nytimes.com/2021/10/24/business/media/facebook-leak-frances-haugen.html

Ms. Haugen, in our phone interview, also resolved a minor mystery: whether she’s quietly relying on the financial support of Pierre Omidyar, the eBay co-founder whose groups started working with her in October, as Politico first reported.

The reality, she said, is that she has her own financial resources, and has accepted help from nonprofit groups backed by Mr. Omidyar only for travel and similar expenses.

“For the foreseeable future, I’m fine, because I did buy crypto at the right time,” she told me.

 

Long time no see, please be more on the Wall…

One of my favorite posters

[El duderino_]

Who sold at the bottom?

I did …. Some very little purchase… but I think it was the top-ish at that time 

[ChartBuddy]

Explanation

[OutOfMemory]

Observing $62,376 = Better!
Let’s begin a slow grind up to $70,000 this week.

Have a good one today boys.

I could well live with +$10k per week.
LFG, ChartBuddy!  

I was beginning to consider $1k per day or some variation of that, but then realizing that bitcoin does not work like that.. so we might start to get $1k per day then all of a sudden we get a $10k day.. perhaps? momentum was down just yesterday-ish.. and then we had nearly 24 hours of reversing.. so then.. has the baby-sized (or would it be ant-sized?) down reversed?  Could be, no?

That's why i wrote "per week". It's easier to iron out ant pumps and corrections that reverse in a matter of days on bigger timeframes. Of course, it's often a question of timing (say, the weekly candle closes high or low, for example) when weekly would not be "of enough average" to incorporate such rough expressions like "$10k". Stepping up in timeframe size would probably mostly help in a more cosmetic way.
However, i could really well live with that, too.
Everything would do, as long as there is a + in front of the change 

Actually, another thing that I thought of regarding a kind of gradual scenario is that at some point we have to get suspicious regarding "why isn't there no battle?"  So, even if the battle is not constant, it seems that we should want to see a "battle" every once in a while, just to be able to appreciate that whatever move is happening is real rather than just cooperating whales causing the price moves to happen.. and it gets so much better and exciting when the whales lose control... .. for example I doubt that the bearwhales wanted the price to get above $43k/$46k in early August.. but they likely did not really have a choice.. and I doubt that they wanted the price to get above $53/$55k in early October, and they likely did not have much of a choice at that point, either.. my tentative thinking....

"Are these bearwhales with us in the room right now?"   
Seriously, i think bearwhales (BW) progress, like most other market participants, over time. The levels of leverage and increased volumes using it make it easy to make it drop in the BW's favour in sideways moments on low trading volumes. The way down is steeper, chances to trigger a decrease in price enough to pick up the liquidated mess from the ground. This is slowing down bullish momentum and empowering the BW, imo. When retail money is being poured in, they stop the selling to have ammo for the next bear cycle(s). This way, they also profit from steep rises in price, if they are patient enough to ride it out. There's much in the (order)books to evaluate and manage the bear's risk ratio.
Damn goblins! 

And, they do not really like that we continue to be in noman's land because there is not really much that they can do about that, but that bridge was crossed in early October.. so it is largely just a matter of getting through this.. with only token battles along the way.. perhaps?  perhaps?

Agreeing on this, too.

[ChartBuddy]

Explanation

[cygan]

the birthday present for my wife is now ready
hope on the day on a few green dildos

[El duderino_]

[Hueristic]

Accidental leak reveals US government has secretly hit Google with 'keyword warrants' to identify ANYONE searching certain names, addresses, and phone numbers

https://www.dailymail.co.uk/news/article-10063665/Government-orders-Google-track-searching-certain-names-addresses-phone-numbers.html

[cygan]

Fix the money

https://twitter.com/LinaSeiche/status/1452730666244771842

[ChartBuddy]

Explanation

[bitcoinPsycho]

Accidental leak reveals US government has secretly hit Google with 'keyword warrants' to identify ANYONE searching certain names, addresses, and phone numbers

https://www.dailymail.co.uk/news/article-10063665/Government-orders-Google-track-searching-certain-names-addresses-phone-numbers.html

The UK government has/are doing this for decades
in telecommunications and from the birth of the internet

Utter bastards

[JayJuanGee]

Actually, another thing that I thought of regarding a kind of gradual scenario is that at some point we have to get suspicious regarding "why isn't there no battle?"  So, even if the battle is not constant, it seems that we should want to see a "battle" every once in a while, just to be able to appreciate that whatever move is happening is real rather than just cooperating whales causing the price moves to happen.. and it gets so much better and exciting when the whales lose control... .. for example I doubt that the bearwhales wanted the price to get above $43k/$46k in early August.. but they likely did not really have a choice.. and I doubt that they wanted the price to get above $53/$55k in early October, and they likely did not have much of a choice at that point, either.. my tentative thinking....

"Are these bearwhales with us in the room right now?"   
Seriously, i think bearwhales (BW) progress, like most other market participants, over time.

To the extent that I believe that I understand what you are saying, I have a wee bit of a quibble with you here OOM.  I believe that I am NOT too heavily into various manipulation theories or desires to blame manipulation on every kind of irregular BTC price move that takes place, but I am neither going to deny manipulation nor down-play the extent to which there are some players in the bitcoin market with superior information and/or way more fire power and not merely because they have studied the market more.  Sure maybe some of them got into their superior positions through a lot of hard work, and others may well just have "insider" information or connections.

On the other hand, I was attempting to explain recently my belief about many more difficulties that exist to manipulate bitcoin prices both in terms of needing to have way more capital or insider position and part of the difficulties come from way more ways to exchange your bitcoin (liquidation avenues) that have been growing through the years. 

For sure some of us may well not be thrilled with some of the recent financial tools that have been introduced into the bitcoin space that allow players can manipulate bitcoin prices without even owning the underlying asset, and surely some of us HOPE that those kinds of manipulators are going to get reckt to fuck based on what can happen with the underlying asset (bitcoin), but sure only time is going to tell how some of these most recent financial instruments are going to be used and whether some folks (perhaps traditional whales) might end up overplaying their hands by using some of those kinds of newly introduced financial instruments (coupled with other possible instruments to attempt to manipulate bitcoin's price DOWNity).

The levels of leverage and increased volumes using it make it easy to make it drop in the BW's favour in sideways moments on low trading volumes. The way down is steeper, chances to trigger a decrease in price enough to pick up the liquidated mess from the ground. This is slowing down bullish momentum and empowering the BW, imo. When retail money is being poured in, they stop the selling to have ammo for the next bear cycle(s). This way, they also profit from steep rises in price, if they are patient enough to ride it out. There's much in the (order)books to evaluate and manage the bear's risk ratio.
Damn goblins! 

We are not always going to know or find out the extent to which some bearwhales might have gotten reckt or were able to recover from whatever mistakes that they had made in betting down when the btc price ends up going up.