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

[shahzadafzal]

How low can you go?

[1714152429]

1714152429

[1714152429]

1714152429

[1714152429]

1714152429

[somac.]

How low can you go?

I keep waiting for a bounce, but, nothing.

[BitcoinBunny]

How low can you go?

[death_wish]

A factual correction has been made to this post, on an interesting point:  The Terra collapse was two orders of magnitude larger than the Mt. Gox collapse, in dollar terms of total losses (according to fair-market valuations at the time of the collapse).

The Terra collapse also affected many more people.

Although the direct losses of UST and LUNA holders were outside the Bitcoin ecosystem, the market impact on BTC was surely much bigger than the direct effect of the LFG BTC dump.

Comparing the scale of it to Gox rather puts the matter in a new perspective—at least, for anyone who has spent years thinking of Gox as an example of a major collapse causing a market meltdown.

[Hamza2424]

#Watsapp trend BTC

Crypto News on Watsapp just chilling by the way

To make all crypto friends happy 😁😁. As they brought at 60k me still taking chance and making entry time to time thats Necessary to remind their mistake

Well Buying at once is a Hasty act and Hasty is Stanic action so thats the result over there i am settle on an Average price covering loss by making new entries

[somac.]

Just keeps grinding down. Where are these coins coming from.

[Wilhelm]

Just keeps grinding down. Where are these coins coming from.

Weak hands

[death_wish]

Seeing these prices and not having dollars, I feel like a eunuch in a room full of frustrated nymphomaniacs.

With due apologies for the crudity, it has been a long time since I so fervently wished I had a large amount of dollars.

[somac.]

Just keeps grinding down. Where are these coins coming from.

Weak hands

Well, there's a shitload more of those people remaining than I thought.

[ChartBuddy]

Explanation

[JayJuanGee]

A factual correction has been made to this post, on an interesting point:  The Terra collapse was two orders of magnitude larger than the Mt. Gox collapse, in dollar terms of total losses (according to fair-market valuations at the time of the collapse).

The Terra collapse also affected many more people.

Although the direct losses of UST and LUNA holders were outside the Bitcoin ecosystem, the market impact on BTC was surely much bigger than the direct effect of the LFG BTC dump.

Comparing the scale of it to Gox rather puts the matter in a new perspective—at least, for anyone who has spent years thinking of Gox as an example of a major collapse causing a market meltdown.

Terra/Luna/ Do Kwon is a shitcoin scam and hardly even trying to contribute anything of meaning except for taking the BTC of a variety of folks and perhaps not even trying to peg their shit - exit scam.

Seems like a bit of a distraction to get into narrowly tailored attempts to compare them.. although I suppose there might be litigation involving Terra/Luna/Do Kwon trying to get the BTC back, if they can be traced in terms of being in the hands of Do Kwon and buddies.

Might also drag us too deeply into shitcoin discussions... does anyone still believe that stable coins can be validly designed like that?   I suppose they could.. there are a lot of people who believe shitcoin ethereum has a valid design because it gains various network effect of developers and various other aspects building on ways to more easily scam people... they call it ERC20, no?  Anyhow, I feel like I am getting lured into shitcoin talkening... It doesn't feel good.

[death_wish]

Just keeps grinding down. Where are these coins coming from.

Unnatural market behaviour.  My gut hunch.  I was glued to the chart from May 5 until the Terra dump, watching something move the market down in neat $500 or $1000 increments whenever it wanted.  Much like this, but not as fast.

Hypothetically, if a highly sophisticated team of quants with >=100k BTC starting inventory borrowed as a block decided to push down the market, with continuous gentle re-buys lower of small pieces to offset higher sales of big chunks that punch through the order book and incite downward momentum, what do you think it would look like?

(Needless to say, this is speculation on the speculation forum—not a statement of known facts.)

[death_wish]

I am talking about the wider market impact on BTC.

Do you suggest that the Terra collapse had no large impact on the BTC market, other than the LFG dump of its BTC reserve?

(Next, someone who dislikes the stock market will suggest that BTC is totally decoupled from the stock market as it damn well should be.)

[somac.]

Just keeps grinding down. Where are these coins coming from.

Unnatural market behaviour.  My gut hunch.  I was glued to the chart from May 5 until the Terra dump, watching something move the market down in neat $500 or $1000 increments whenever it wanted.  Much like this, but not as fast.

Hypothetically, if a highly sophisticated team of quants with >=100k BTC starting inventory borrowed as a block decided to push down the market, with continuous gentle re-buys lower of small pieces to offset higher sales of big chunks that punch through the order book and incite downward momentum, what do you think it would look like?

(Needless to say, this is speculation on the speculation forum—not a statement of known facts.)

It certainly doesn't look like a normal BTC dump to me either. In times past we would of just had a huge red candle by now, then a bounce. But nothing like that yet.

[death_wish]

It certainly doesn't look like a normal BTC dump to me either. In times past we would of just had a huge red candle by now, then a bounce. But nothing like that yet.

Thanks for the feedback on my gut hunch.  I’ve been replaying early May in my mind for over a month, questioning myself.  Wondering if/when I would see it again.


Well, hopefully ~$24k was low enough for now.  If that was intentional.  (Or anyway, really!)

P.S., correction of earlier post:

I was glued to the chart from May 5 until the Terra dump, watching something move the market down in neat $500 or $1000 increments whenever it wanted.  Much like this, but not as fast [after the initial, much wilder, spectacular crash, which was very fast].

[fillippone]

Buy order hit, this game is too easy. Thanks for the cheap coins, paper hands.

Well done mate.
I was just thinking of you this morning, seeing all red everywhere i tough: “that LFC smartass must be very happy today as he’s probably buying back good chunk of his corn”.

But then realised you’re probably happy anyway. Because you had a plan.

Need to share a few nice memes, just to cheer you me up.

[Paashaas]

When U.S stock market opens Bitcoin could crater to $20k ore even below that.

More dumping ahead when FED increasing rates again later this week.

Total doom!

[JayJuanGee]

I am talking about the wider market impact on BTC.

Do you suggest that the Terra collapse had no large impact on the BTC market, other than the LFG dump of its BTC reserve?

BTC were dumped from about May 9 to May 11th.... and then yes.. again dumping in the past day or so... and currently as well (low of $23,982 within the past 10 minutes.  

(Next, someone who dislikes the stock market will suggest that BTC is totally decoupled from the stock market as it damn well should be.)

I will suggest it.. and it is not because I dislike anything.. I am making a descriptive rather than prescriptive statement that BTC is not correlated with the stock market, except in the short-term it has a tendency to be..

 

It certainly doesn't look like a normal BTC dump to me either. In times past we would of just had a huge red candle by now, then a bounce. But nothing like that yet.

They rarely look normal while you are in the midst of them.. ... that's why the frequently seem like they are never going to end and they frequently feel like they have no reason for why they are happening while they are happening.

 

When U.S stock market opens Bitcoin could crater to $20k ore even below that.

More dumping ahead when FED increasing rates again later this week.

Total doom!

What is your target BTC price then?  $16k?

 

[somac.]

When U.S stock market opens Bitcoin could crater to $20k ore even below that.

More dumping ahead when FED increasing rates again later this week.

Total doom!

I'm thinking it is more likely to bounce but that is probably only hopium.

While the CPI numbers were higher than expected, core CPI was down on last month. So maybe this thing (trad market selloff) is getting a little overdone. Big maybe I know

[Wilhelm]

When U.S stock market opens Bitcoin could crater to $20k ore even below that.

More dumping ahead when FED increasing rates again later this week.

Total doom!

Yes everyone sell now before BTC price goes negative