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

[AlcoHoDL]

Ant pump begins...  

Edit: shutting down everything, back to RL for now. Congrats to all, a great win today. 

Onwards & upwards.

[IntroVert]

Couldn’t find a nice word to say about the corn… Although the classification as “non-security commodity” should be useful/positive for the future.

https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[machasm]

Well that ETF approval was a right palava.
Anyway, they are off to the races tomorrow. Expect some chop.
Nice to see the regular WO bros still here.
Tick tock next block.

[OgNasty]

This is exciting. I’m showing the 2 year high to take out as being $48,200. It looks like we hit $47,800. That’s pretty close to breaking out of a 2 year trading range… I’m feeling so overconfident right now it makes me cautious that the top is near but we still have so long for the market cycle to play out. The contrarian in me is urging caution but I feel like dancing.

[Out of mind]

Finally, the hopes of Bitcoin investors have come true, Bitcoin ETF Approval has been successful.
Investors' frustrations are over.

[Alpha Marine]

Ahhhh, forget short term action mate.

This is huge for the upcoming bull run and beyond.

Cheers to everybody in the WO. It’s been a stressful few days but Gary has finally kneeled before the King.

Now countdown to the halving, things are only just starting to purr.

One thing I feared about Bitcoin ETF approval was that the price could skyrocket very fast. From history, we know that whenever Bitcoin price goes so high in the short term, there is mostly always a correction and that would mean a drastic fall in price. But with halving around the corner, I don't think that's going to happen because the demand for Bitcoin will most likely keep increasing.

[philipma1957]

here is a last call to the hat wearers listed below to participate in the 2nd edition of the Icarus hat-avatar cards
for reference, here is the first edition: [SALE] Icarus Bitcointalk Hat Edition (10 designs)🔐🧢
if you want to be a part of this journey, write me a pm

Code:

kurious, r1s2g3, infofront, bitcoinPsycho, HI-TEC99, Elwar, lightfoot, jonoiv,
Ludwig Von, QuestionAuthority, Kylapoiss, soullyG, goldkingcoiner, starmman, Icygreen, JayJuanGee, Rosewater Foundation, Toxic2040,
Globb0, Arriemoller, Searing, xyzzy099, Speculatoross, ivomm, bitserve, roycilik, BinaryReign,
BobLawblaw, bones261, JimboToronto, Ibian, itod, mOgliE, strawbs, yefi,
empowering, izanagi narukami, Bitcoinaire, kirreev070, Wekkel, crypmike, mfort312, Totscha,
PoolMinor, Gyrsur, BTCMILLIONAIRE, podyx, julian071, Hexah, savetherainforest, Last of the V8s, nutildah, Spaceman_Spiff_Original,
nanobtc, Roombot, bitcoinminer42, afbitcoins, erre, luckygenough56, DireWolfM14, Dabs, VB1001, HairyMaclairy,
Karatma1, Cryptotourist, machasm, rjclarke2000, Willhelm, dogebearman,
becoin, sheenshane, JSRAW, StartupAnalyst, theyoungmillionaire, vapourminer, vroom, dandannn,
Biodom, GreatArkansas, fluidjax, LFC_Bitcoin, mindrust, kingcolex, asche, bitmover, jbreher,
DoublerHunter, FractalUniverse, ChinkyEyes, ErisDiscordia, gentlemand, Lambie Slayer, CryptoNeed, markj113,
600watt, BlindMayorBitcorn, pawanjain, P_Shep, Royse777, Kenzawak, asu, MrFreeRoMan, realsteelboy, DeathAngel,
RapTarX, Tranthidung, SuperTA, _javi_, serveria.com, rdbase, th3nolo, Findingnemo, Olegya199,
cabalism13, ChuckBuck, dragonvslinux, spooderman, psycodad, FullNode, INDYMONEY, BlackHatCoiner

just checking i am set up for this correct?

[Richy_T]

Good and buddy will get to pass me today on ETF day.

You sure about that?

[Toxic2040]

   ....fifteen years later....      thanks Hal...again and again



-----------------------

the evening wall report


a big day despite Gensler's fat finger diversion on X no?    

after some early session volatility bitcoin is up... and currently trading near $46.8kish on rising volumes as the ETF's market finally gets the nod


remember...this is all still dip...a important fact to consider imho



some new med fibs for gawking at

dyor

4h



D

stronghands

[philipma1957]

Good and buddy will get to pass me today on ETF day.

You sure about that?

do you have him counting backwards? would be a nice and very unexpected surprise.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[AirtelBuzz]

Gary Gensler right now BTC

🥱🥱

[OgNasty]

"So you said the BTC ETFs got approved. So I will buy ETH, ok?!"

 

I can understand this from a trader’s perspective. It seems pretty obvious that an Ethereum ETF is going to happen down the line. I could see why traders would want to be there for the runup to that. You can almost tell how motivated by money someone is to be in crypto by whether their main holding is BTC, ETH, or SOL.

[Richy_T]

Anticlimactic.

[Richy_T]

do you have him counting backwards? would be a nice and very unexpected surprise.

Some of his older posts may have evaporated.

[BitcoinBunny]

Gary Gensler right now BTC

🥱🥱

Did you read his statement?

It sounds like he didn't want to do this at all. Actually I'm pretty sure this wouldn't have happened, had it not been for the court of appeals.

We are now faced with a new set of filings similar to those we have disapproved in the past. Circumstances, however, have changed. The U.S. Court of Appeals for the District of Columbia held that the Commission failed to adequately explain its reasoning in disapproving the listing and trading of Grayscale’s proposed ETP (the Grayscale Order).[1] The court therefore vacated the Grayscale Order and remanded the matter to the Commission. Based on these circumstances and those discussed more fully in the approval order, I feel the most sustainable path forward is to approve the listing and trading of these spot bitcoin ETP shares.
....

Though we’re merit neutral, I’d note that the underlying assets in the metals ETPs have consumer and industrial uses, while in contrast bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7]

While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin. Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.[8]

https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023

[Richy_T]

We are now faced with a new set of filings similar to those we have disapproved in the past. Circumstances, however, have changed. The U.S. Court of Appeals for the District of Columbia held that the Commission failed to adequately explain its reasoning in disapproving the listing and trading of Grayscale’s proposed ETP (the Grayscale Order).[1] The court therefore vacated the Grayscale Order and remanded the matter to the Commission. Based on these circumstances and those discussed more fully in the approval order, I feel the most sustainable path forward is to approve the listing and trading of these spot bitcoin ETP shares.
....

Though we’re merit neutral, I’d note that the underlying assets in the metals ETPs have consumer and industrial uses, while in contrast bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7]

While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin. Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto.[8]

Translation: We wanted to continue to interfere in the private activities of citizens to keep our buddies in yachts and fancy cars but the judge is a HODLer.

[BitcoinBunny]

"So you said the BTC ETFs got approved. So I will buy ETH, ok?!"

 

I can understand this from a trader’s perspective. It seems pretty obvious that an Ethereum ETF is going to happen down the line. I could see why traders would want to be there for the runup to that. You can almost tell how motivated by money someone is to be in crypto by whether their main holding is BTC, ETH, or SOL.

I wonder if the SEC can use (technical) reasons to block ETFs based on other chains and to potentially kick those in the long grass for a far longer period of time.

Most shitcoins are nowhere near as decentralised as BTC (or completely not) and there often doesn't even seem to be an issue cap built in the currency or it is completely vague (exactly like with Eth).

Perhaps the particulars don't matter, as long as they are on the likes of Coinbase?

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com