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

[ChartBuddy]

Explanation

[1714503045]

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[cygan]

perhaps very good news to all miners from the federal state of missouri


https://legiscan.com/MO/text/HB764/2023

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[El duderino_]

[BitcoinBunny]

The second pig is more evil imo.

[ChartBuddy]

Explanation

[Gachapin]

Watch Senator CynthiaMLummis defend #bitcoin mining energy use in Congressional hearing today
https://twitter.com/DocumentingBTC/status/1633214192437084161


She obviously gave her best and was very motivated.

but imo she should have attacked the argument of POW not being needed by asking him about:

- lack of decentralization with POS
- lack of freedom to fork away from any current stakers (nothing at stake)
- ...

would probably have been important news to many in the room and flabby guy wouldn't be able to rebut any of that

[ChartBuddy]

Explanation

[dragonvslinux]

Does this have anything to do with the mounting pressure on Bitcoin's price for the moment?

The wallet is connected to US government law enforcement. 40,000 BTC have just been moved. I wonder why they didn't empty the wallet and left 825 BTC in it? That's a bit weird. It's a good question how many BTC the government still has as I am not sure whether they would announce every single BTC seizure publicly. They do announce the big ones for sure as they draw a lot of public attention anyway, but I guess they are sitting on quite some more.

They left 125.6K of their holdings after sending 9.8K to Coinbase, the 825 BTC balance is just one of many addresses, probably not that relevant.

There's a 40K transaction but 30K looks like a change address (not Coinbase and remains unsepnt).

Probably just paid Coinbase $200m for some dodgy blockchain analysis or something 

https://beincrypto.com/us-gov-law-enforcement-wallet-moves-millions-bitcoin-will-sell/


For anyone slightly interested, Coinbase broke these up mainly into 10 BTC increments as well as some 476 BTC increments:



They initially broke them down into 100x 93 BTC increments (excluding one 476 increment - a 4.85% fee if I had to guess), while merging them into batches of 16.

Then down into increments of roughly 130x 10 BTC as well as 16x (ish) 476 BTC increments, which also remain unspent. That's roughly 9K unspent as far as I can tell.

The square dots are unspent transactions, the blue are spent, some are small 4 BTC amounts. Otherwise all very precisely calculated!

On the face of it, nothing much has happened with these coins so far, so not convinced there's much selling pressure from this batch.

Unless someone wanted to buy 9K BTC in increments of 10 and 476 via OTC, then it's already been sold.

Edit: Had to correct the math on that a bit

[ChartBuddy]

Explanation

[Gachapin]

Women's-day might have many WOguys occupied...

[ChartBuddy]

Explanation

[cygan]

[shogun47]

They left 125.6K of their holdings after sending 9.8K to Coinbase, the 825 BTC balance is just one of many addresses, probably not that relevant.

There's a 40K transaction but 30K looks like a change address (not Coinbase and remains unsepnt).

Probably just paid Coinbase $200m for some dodgy blockchain analysis or something  

https://beincrypto.com/us-gov-law-enforcement-wallet-moves-millions-bitcoin-will-sell/


For anyone slightly interested, Coinbase broke these up mainly into 10 BTC increments as well as some 476 BTC increments:



They initially broke them down into 100x 93 BTC increments (excluding one 476 increment - a 4.85% fee if I had to guess), while merging them into batches of 16.

Then down into increments of roughly 130x 10 BTC as well as 16x (ish) 476 BTC increments, which also remain unspent. That's roughly 9K unspent as far as I can tell.

The square dots are unspent transactions, the blue are spent, some are small 4 BTC amounts. Otherwise all very precisely calculated!

On the face of it, nothing much has happened with these coins so far, so not convinced there's much selling pressure from this batch.

Unless someone wanted to buy 9K BTC in increments of 10 and 476 via OTC, then it's already been sold.

Edit: Had to correct the math on that a bit

Ah yes you are correct as this article states. My bad as I didn't read it till the end, but still it is interesting to see when government agencies take action and sell off tens of thousands of Bitcoin. Maybe we shouldn't be fearing all too often that the US could come up with any disadvantageous regulations or laws for as long as they are among the biggest whales out there! Hopefully they seize some more from illegal activities so they also have an incentive for Bitcoin's price to go up.

[ChartBuddy]

Explanation

[BitcoinBunny]

There goes 22..
Sigh....

[Lainta]

JUST IN - 🇪🇺 Europe's biggest asset manager, $2 trillion Amundi: "If inflation remains above target, #bitcoin   ’s limited supply may start to attract more attention" 🚀

https://twitter.com/BitcoinMagazine/status/1633434899733532675?t=L6SOr6R3XOXqAxeLuCJQgA&s=19

[ChartBuddy]

Explanation

[BitcoinBunny]

JUST IN - 🇪🇺 Europe's biggest asset manager, $2 trillion Amundi: "If inflation remains above target, #bitcoin   ’s limited supply may start to attract more attention" 🚀

https://twitter.com/BitcoinMagazine/status/1633434899733532675?t=L6SOr6R3XOXqAxeLuCJQgA&s=19

It would be nice to think that this would happen.

Just because it's logical doesn't mean it will.

Consider the super high inflation rates we've already seen and the endless noise of "strong economy", "central banks will pivot any day now." etc.