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

[Gachapin]

edit:

hey JJG is the bottom in?

More important: is the (local) top in?

I wouldn't be surprised if we get another leg up to 41k-44k before having a major correction.

[OutOfMemory]

edit:

hey JJG is the bottom in?

More important: is the (local) top in?

I wouldn't be surprised if we get another leg up to 41k-44k before having a major correction.

You mean major in the range of 10% or more?

[vroom]

Something is going to happen next year that will force the Fed's hand to start lowering rates. (A war in Taiwan? Major terrorist attack? CRE and Banking sector meltdown? Who knows, but it'll just be a cover story)

When this starts to happen, the leftover 1 trillion $ from the Fed's RRO will begin moving out, looking for a better return elsewhere. It's already been draining fast since June, down from a high of 2 trillion $.

If the market begins to crash, Wall Street will take all that money and massively short the market, looking to scoop up more cheap shares.

Wall Street already knows all this is coming (insider knowledge), they are just front running it now.

I'm actually starting to think that a proxy war next year in the South China Sea makes the most sense.

Look how they've run up the biggest bubble in nVidia stock.

And now the word is that insider investors are dumping their nVidia shares.

Gee, I wonder why?    

https://www.fool.com/investing/2023/09/15/nvidia-ceo-jensen-huang-dumped-shares-ai/

https://finbold.com/insiders-continue-dumping-nvidia-shares-crash-incoming/

https://www.msn.com/en-us/money/markets/cathie-woods-ark-invest-is-selling-nvidia-stock-and-buying-these-2-artificial-intelligence-ai-growth-stocks/ar-AA1l2heL

Nvidia maybe knows, that they will not have always the best hardware for ai training. There are new competitors:

https://www.wired.com/story/openai-buy-ai-chips-startup-sam-altman/

Rain, founded in 2017, has claimed that its brain-inspired NPUs will yield potentially 100 times more computing power and, for training, 10,000 times greater energy efficiency than GPUs, the graphics chips that are the workhorses for AI developers such as OpenAI and primarily sourced from Nvidia.

Like cryptomining with GPUs, everything has an end.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

Something is going to happen next year that will force the Fed's hand to start lowering rates. (A war in Taiwan? Major terrorist attack? CRE and Banking sector meltdown? Who knows, but it'll just be a cover story)

When this starts to happen, the leftover 1 trillion $ from the Fed's RRO will begin moving out, looking for a better return elsewhere. It's already been draining fast since June, down from a high of 2 trillion $.

If the market begins to crash, Wall Street will take all that money and massively short the market, looking to scoop up more cheap shares.

Wall Street already knows all this is coming (insider knowledge), they are just front running it now.

I'm actually starting to think that a proxy war next year in the South China Sea makes the most sense.

Look how they've run up the biggest bubble in nVidia stock.

And now the word is that insider investors are dumping their nVidia shares.

Gee, I wonder why?    

https://www.fool.com/investing/2023/09/15/nvidia-ceo-jensen-huang-dumped-shares-ai/

https://finbold.com/insiders-continue-dumping-nvidia-shares-crash-incoming/

https://www.msn.com/en-us/money/markets/cathie-woods-ark-invest-is-selling-nvidia-stock-and-buying-these-2-artificial-intelligence-ai-growth-stocks/ar-AA1l2heL

Nvidia maybe knows, that they will not have always the best hardware for ai training. There are new competitors:

https://www.wired.com/story/openai-buy-ai-chips-startup-sam-altman/

Rain, founded in 2017, has claimed that its brain-inspired NPUs will yield potentially 100 times more computing power and, for training, 10,000 times greater energy efficiency than GPUs, the graphics chips that are the workhorses for AI developers such as OpenAI and primarily sourced from Nvidia.

Like cryptomining with GPUs, everything has an end.

Well, to be fair I am still mining crypto with GPUs as are a lot of others. You have a point though. The market is valuing Nvidia like they’re the only company that will ever be able to make AI hardware. Clearly it’s overvalued so insiders are just taking profits. I actually think AMD makes a far more attractive investment option than Nvidia currently.

[Gachapin]

edit:

hey JJG is the bottom in?

More important: is the (local) top in?

I wouldn't be surprised if we get another leg up to 41k-44k before having a major correction.

You mean major in the range of 10% or more?

down to 30k-35k

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[bitcoinPsycho]

Interesting article

https://www.kitco.com/news/2023-12-05/Bitcoin-breaches-44k-as-BlackRock-secures-seed-capital-for-spot-BTC-ETF.html


"BlackRock sees a high probability that its application will be approved, and Bloomberg Intelligence ETF analysts Eric Balchunas and James Seyffart say there is a 90% chance that the first spot BTC ETF will be approved by Jan. 10.

Max Keiser, a well-known Bitcoin maximalist, has also caused a stir of speculation by tweeting about “rumors” that the sovereign wealth fund for Qatar – which is responsible for managing the nation’s vast oil and gas-generated wealth – is “looking to buy” $500 billion worth of Bitcoin. Keiser suggested that this could lead to a “$100,000 God Candle” on the BTC chart"

[JimboToronto]

down to 30k-35k

Or up to 50k-55k.

We're still correcting from last year's steep dip.

2024 has been one big correction.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[AlcoHoDL]

Interesting article

https://www.kitco.com/news/2023-12-05/Bitcoin-breaches-44k-as-BlackRock-secures-seed-capital-for-spot-BTC-ETF.html

"BlackRock sees a high probability that its application will be approved, and Bloomberg Intelligence ETF analysts Eric Balchunas and James Seyffart say there is a 90% chance that the first spot BTC ETF will be approved by Jan. 10.

Max Keiser, a well-known Bitcoin maximalist, has also caused a stir of speculation by tweeting about “rumors” that the sovereign wealth fund for Qatar – which is responsible for managing the nation’s vast oil and gas-generated wealth – is “looking to buy” $500 billion worth of Bitcoin. Keiser suggested that this could lead to a “$100,000 God Candle” on the BTC chart"

God candle! I like the sound of that!

[True Myth]

Interesting article

https://www.kitco.com/news/2023-12-05/Bitcoin-breaches-44k-as-BlackRock-secures-seed-capital-for-spot-BTC-ETF.html

"BlackRock sees a high probability that its application will be approved, and Bloomberg Intelligence ETF analysts Eric Balchunas and James Seyffart say there is a 90% chance that the first spot BTC ETF will be approved by Jan. 10.

Max Keiser, a well-known Bitcoin maximalist, has also caused a stir of speculation by tweeting about “rumors” that the sovereign wealth fund for Qatar – which is responsible for managing the nation’s vast oil and gas-generated wealth – is “looking to buy” $500 billion worth of Bitcoin. Keiser suggested that this could lead to a “$100,000 God Candle” on the BTC chart"

God candle! I like the sound of that!

I also thought this part of the article was fun...

Data provided by Coinglass shows that as a result of the move higher for BTC and multiple altcoins, over the past 24 hours, a total of $167.26 million short positions have been liquidated, to go along with $82.94 million long positions.

“Traders do not have enough upside leverage, this is the conclusion from the elevated premium that perpetual futures are trading at,” said Markus Thielen, head of research at Matrixport. “While for most of the year the perpetual futures traded at a 5-10% premium, since November, this has expanded to 10-15% and occasionally trading with 20-30%. This shows panic buying from traders who are closing out shorts or increasing leveraged longs.”

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[bitcoinPsycho]

$45K in one hour confirmed  

[Gachapin]

down to 30k-35k

Or up to 50k-55k.

We're still correcting from last year's steep dip.

2024 has been one big correction.

true that


... I could live without a retest of the 30k's ... I hope your bags are filled gentlemen

[bitcoinPsycho]

Not stamp but CONFIRMED

[lightfoot]

Jesus. Two pages of going on about GPUs and not one locomotive?

[OgNasty]

down to 30k-35k

Or up to 50k-55k.

We're still correcting from last year's steep dip.

2024 has been one big correction.

I think a lot of people don’t realize this. My personal belief is that if FTX didn’t defraud everyone out of their Bitcoin and pump everyone’s shitcoins then the price of BTC likely would have gone up as high as $140,000 and would have bottomed around $60,000. So while we may be in a bull market now, we should have never gotten this low in the first place.

[JimboToronto]

Jesus. Two pages of going on about GPUs and not one locomotive?

We're still a long way from CCMF.

Maybe after $60k.

[lightfoot]

Eh, time to get the party going. Train is pulling out of the station.....