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

[DaRude]

Exactly. It's currently a drop in the ocean. As predicted by much of the media, it's barely relevant, much like when Bitcoin Futures initially launched. The interest was almost non-existent.

I am seeing some data that contradicts this.  Like the fact the Bitcoin ETFs pulled in over 1.2Billion in the first 30 minutes of trading.  This is nothing like the futures launch.  At least not yet.  I suppose if the inflow stops there it could cool down?

And:

https://twitter.com/JoeConsorti/status/1745527450358989212

This just tells me that all of those speculators that poured over 3% of all BTC in existing [619,162.0971] and got caught in GBTC discount with a 2% annual fee, can finally close their positions without paying steep discount. GBTC still has the nerve to charge the remaining idiots 1,5%/yr fee. Inflows into other funds seem to offset the dismantling of GBTC, watch their AUM closely.

jee....IF your investment is either 50% over or under NAV (both happened to GBTC in 2015-2023), how important was that 2% fee?
GBTC had a SPECTACULAR return since 2015 in fiat only accounts..nothing else was even close.
GBTC is up 13056% since Sept 28, 2015, with NVDA up 8796%
Bitcoin did better, of course, but you couldn't have held it in tax advantageous accounts, unless you used some specialized IRAs that have VERY high fees per tx.
That said, of course, in a LONG run you would lose a bit more in GBTC to fees now as there are less expensive options available.
Anyone switching from GBTC to other funds needs to see what those other funds are trading at in relation to their NAV: not an advice..this is what I plan to do.
This and see which ETFs would offer options; among those, GBTC, IBIT and FBTC probably will.
My bitcoin is practically not for trading, but I have no such qualms about ETFs.

GBTC has been trading at a discount since Feb '21 (that's almost 6% in fees from the top) and was -40% just in June '23. It wasn't the inflow from tax accounts that closed that gap down to -1.9% day before approval, but a bet for an ETF. Now those that bought at the discount shall rip the benefit, fillippone had a whole thread on GBTC somewhere

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[DirtyKeyboard]

ChartBuddy's 24 hour Wall Observation recap
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Credit to ChartBuddy

[Gachapin]

If you are right regarding a local top Cramer would be too..  And, out of experience, that's extremely hard to swallow....

Even a broken clock is right twice a day.

That doesn't apply to Cramer. He seems to have a perfect track record of being a contra indicator  

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[AirtelBuzz]

$4,326,000,000 in trading volume was recorded on the first day of the Spot Bitcoin  ETF.

X

[Gachapin]

some proposals for a new poll:


Which BTC price will be reached first, 50k or 40k?

What is the Bitcoin price at halving date?

What is the highest Bitcoin price until halving date?

Will we have new ATH before halving?

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[BitcoinBunny]

Always do as they do, never do as they say you should do.

Vanguard: "BTC is bad mmkay, it's really volatile, so it's bad as a long term investment"


Meanwhile, Vanguard is number 2 and 3 shareholders of MicroStrategy (15% total) and Coinbase (14% total).

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OutOfMemory]

Always do as they do, never do as they say you should do.

Vanguard: "BTC is bad mmkay, it's really volatile, so it's bad as a long term investment"


Meanwhile, Vanguard is number 2 and 3 shareholders of MicroStrategy (15% total) and Coinbase (14% total).

Nice numbers, but where is the sauce to consider them facts? 

Regarding their original statement:
There are also customers and "customers". 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[bitcoinPsycho]

$48K in one hour ......let's see

[psycodad]

And when you thought things couldn't get any weirder your cordless screwdriver starts acting up:

Vulnerabilities on Bosch Rexroth Nutrunners May Be Abused to Stop Production Lines, Tamper with Safety-Critical Tightenings

-> https://www.nozominetworks.com/blog/vulnerabilities-on-bosch-rexroth-nutrunners

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[vapourminer]

pleeze wen Etfbuddy sir?

[BitcoinBunny]

Always do as they do, never do as they say you should do.

Vanguard: "BTC is bad mmkay, it's really volatile, so it's bad as a long term investment"


Meanwhile, Vanguard is number 2 and 3 shareholders of MicroStrategy (15% total) and Coinbase (14% total).

Nice numbers, but where is the sauce to consider them facts? 

I was in the middle of making a table to show the share holders but too much effort to copy...

https://www.marketscreener.com/quote/stock/MICROSTRATEGY-INCORPORATE-10105/company/
https://www.marketscreener.com/quote/stock/COINBASE-GLOBAL-INC-121300010/company/

[PytagoraZ]

Hey,
Looks like the ETF approval hasn't made him wake up, come on, it's time to wake up guys.. Don't just stay there, move, move

[AirtelBuzz]

Vanguard issued a statement: “Spot Bitcoin ETFs will not be available for purchase on the Vanguard platform…our view is that these products do not align with our offering focused on asset classes such as equities, bonds and cash, which Vanguard believes is a balanced, long-term investment. Seen as the building blocks of a portfolio.



>>> https://twitter.com/BitcoinNewsCom/status/1745780687037256172?s=19