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

[BitcoinBunny]

Another leg down.
 

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[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Torque]

Blackrock iShare Bitcoin Trust ETF has increased their position from $499M to $707M as of 16th January 2024...

Here are some key facts about three full days of trading in the books as of the close of business on Tuesday:

• net inflows into the spot bitcoin ETF appear to be about 21,000 bitcoin (BTC), or $894 million at the current price of $42,600.
• BlackRock's iShares Bitcoin Trust (IBIT) leads the way by adding 16,362 bitcoin.
• Second is Fidelity's Wise Origin Bitcoin Fund (FBTC) with 12,112 bitcoin.
• Sizable exits from Grayscale's Bitcoin Trust (GBTC), which has lost about 25,000 bitcoin, brought down the overall industry inflow.

https://www.coindesk.com/markets/2024/01/17/bitcoin-etf-net-inflows-near-1b-after-three-days/

Eh...so, like, is that all? Really?

Small potatoes.

Shit, Elon Musk bought $1.5B worth of BTC all in one go not too long ago.

Just for the Lulz.

These ETF trust guys are amateurs.  

[Volgastallion]

Well, i think we can expect some movement and manipulation coming from the "new old"market guys.....

So i can see this boat movement start to increase form one side to another so HODL fiercely and don't fall overboard

PD: one wave ahead a trueusd deppeging in course of colition...

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OutOfMemory]

Blackrock iShare Bitcoin Trust ETF has increased their position from $499M to $707M as of 16th January 2024...

Here are some key facts about three full days of trading in the books as of the close of business on Tuesday:

• net inflows into the spot bitcoin ETF appear to be about 21,000 bitcoin (BTC), or $894 million at the current price of $42,600.
• BlackRock's iShares Bitcoin Trust (IBIT) leads the way by adding 16,362 bitcoin.
• Second is Fidelity's Wise Origin Bitcoin Fund (FBTC) with 12,112 bitcoin.
• Sizable exits from Grayscale's Bitcoin Trust (GBTC), which has lost about 25,000 bitcoin, brought down the overall industry inflow.

https://www.coindesk.com/markets/2024/01/17/bitcoin-etf-net-inflows-near-1b-after-three-days/

Eh...so, like, is that all? Really?

Small potatoes.

Shit, Elon Musk bought $1.5B worth of BTC all in one go not too long ago.


Just for the Lulz.

These ETF trust guys are amateurs.  

Irony?
If not: Apples - Bananas
Client demand drives ETF Bitcoin accumulation. AFAIK Bitcoin are bought by ETF after market hours (read it in some tweet referenced here).
These stats are impressive, considering onyl three days of trading, which started on a friday, so effectively five days of play, depending on point of view.
Of course, i would not extrapolate these figures seriously onto the future, but imagine ETFs buying BTC like this every week. Remember, only three are ETF's are mentioned in the quote of this article. Elon's big pockets would be surpassed pretty soon. Who knows how many of his BTC were used to buy Dogecoin or already sold off?
Time will tell, and Bitcoin will do its thing, most likely in the way of another full cycle of known price dynamics.

(EDIT removed for new post)

[ivomm]

Blackrock iShare Bitcoin Trust ETF has increased their position from $499M to $707M as of 16th January 2024...

Here are some key facts about three full days of trading in the books as of the close of business on Tuesday:

• net inflows into the spot bitcoin ETF appear to be about 21,000 bitcoin (BTC), or $894 million at the current price of $42,600.
• BlackRock's iShares Bitcoin Trust (IBIT) leads the way by adding 16,362 bitcoin.
• Second is Fidelity's Wise Origin Bitcoin Fund (FBTC) with 12,112 bitcoin.
• Sizable exits from Grayscale's Bitcoin Trust (GBTC), which has lost about 25,000 bitcoin, brought down the overall industry inflow.

https://www.coindesk.com/markets/2024/01/17/bitcoin-etf-net-inflows-near-1b-after-three-days/

Eh...so, like, is that all? Really?

Small potatoes.

Shit, Elon Musk bought $1.5B worth of BTC all in one go not too long ago.

Just for the Lulz.

These ETF trust guys are amateurs.  

This is just the beginning, young padawan. If buying spot ETF's stopped there, this statement would make some sense. But it is more than clear that it will not stop. If 5,000 BTC are net bought per day, this makes 500,000 BTC in 100 days, almost as much as Greyscale has. After another 100 days, the reserve of the SB will dry up. I don't know why everyone measures the reserve of exchanges in general, since all ETF's only draw from CB (with one small exception). This means that the effect of the supply shock will be very substantial, significantly greater than the halving. But skeptics who look at the price cannot do this elementary calculation. So I expect this Greyscale flop to lead to a more significant momentary dip below 40K. I hope I'm wrong because I don't have money to buy now. It's clear that Greyscale is trying to milk their customers with this high rate. IMO the majority are not selling for a profit or a smaller loss, but to buy back other ETFs at a lower rate. This will further accelerate the effect of the shock supply. So I expect within 2 months at most, the price will start to recover steadily and grow into the usual exponential bull run.

[OutOfMemory]

EDIT: In other news...

https://www.coindesk.com/policy/2024/01/18/eu-provisionally-agrees-tough-crypto-due-diligence-measures-to-combat-money-laundering/

Crypto firms have to do checks on transactions of 1,000 euro or more, and the framework adds measures to mitigate risks in transfers with self-hosted wallets.

Also the EU:

The aims of the European Union within its borders are:

    promote peace, its values and the well-being of its citizens
    offer freedom, security and justice without internal borders, while also taking appropriate measures at its external borders to regulate asylum and immigration and prevent and combat crime

 

Does this mean that EU citicens have to transfer future fiat gains in units of €999 from an exchange to their bank account(s)?
Does that also mean that one can't send to or buy on an exchange for more than €999 in fiat value without being reported?  
What if the exchange of choice is not operating from inside the EU?
Asking for a friend...
 

[Torque]

Blackrock iShare Bitcoin Trust ETF has increased their position from $499M to $707M as of 16th January 2024...

Here are some key facts about three full days of trading in the books as of the close of business on Tuesday:

• net inflows into the spot bitcoin ETF appear to be about 21,000 bitcoin (BTC), or $894 million at the current price of $42,600.
• BlackRock's iShares Bitcoin Trust (IBIT) leads the way by adding 16,362 bitcoin.
• Second is Fidelity's Wise Origin Bitcoin Fund (FBTC) with 12,112 bitcoin.
• Sizable exits from Grayscale's Bitcoin Trust (GBTC), which has lost about 25,000 bitcoin, brought down the overall industry inflow.

https://www.coindesk.com/markets/2024/01/17/bitcoin-etf-net-inflows-near-1b-after-three-days/

Eh...so, like, is that all? Really?

Small potatoes.

Shit, Elon Musk bought $1.5B worth of BTC all in one go not too long ago.

Just for the Lulz.

These ETF trust guys are amateurs.  

This is just the beginning, young padawan. If buying spot ETF's stopped there, this statement would make some sense. But it is more than clear that it will not stop. If 5,000 BTC are net bought per day, this makes 500,000 BTC in 100 days, almost as much as Greyscale has. After another 100 days, the reserve of the SB will dry up. I don't know why everyone measures the reserve of exchanges in general, since all ETF's only draw from CB (with one small exception). This means that the effect of the supply shock will be very substantial, significantly greater than the halving. But skeptics who look at the price cannot do this elementary calculation. So I expect this Greyscale flop to lead to a more significant momentary dip below 40K. I hope I'm wrong because I don't have money to buy now. It's clear that Greyscale is trying to milk their customers with this high rate. IMO the majority are not selling for a profit or a smaller loss, but to buy back other ETFs at a lower rate. This will further accelerate the effect of the shock supply. So I expect within 2 months at most, the price will start to recover steadily and grow into the usual exponential bull run.

Not "young"   , and I've learned something important and valuable in my long years:

"Never tell me what you are gonna do, tell me what you have done/accomplished."

So if like you say these Bitcoin ETFs are legit up to 500K btc in 3 months, or even 6 months, then color me impressed....then.

But until then, yawn.

[Paashaas]

Breaking News:

Bitcoin becomes the second largest ETF commodity in the US, surpassing silver.

It will create a shockwave when it becomes number 1 beating gold.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Hueristic]

No more streaking...Buddy

Not bitcoin, but I found this "weird" snippet:

https://getpocket.com/explore/item/the-ghostly-radio-station-that-no-one-claims-to-run

What the heck? Bizarro..."the Buzzer", "the Pip" and the "Squeaky Wheel".

I'm of the opinion that it is a canary signal.

* psycodad grabs his old SDR and tunes to 4.625MHz to find out when the world is ending.

It sounds a lot like a combined canary and command channel. I.e. if you hear the buzz, you have reception, all good, carry on.
If the buzz is not there, somebody is blocking/jamming it, use "plan B" (the instructions you got for this situation ahead of time) then.
Otherwise you wait for commands to get active, I assume any commands will be issued either repeatedly or at fixed times (the article doesn't mention that).

But then again, if you're one of the evil super powers, what keeps you from just broadcasting with high power on that frequency a recording of yesterdays buzz to keep the sleepers inactive while you nuke the other evil super power.

Maybe its just a leftover from cold war that they kept running to keep a bunch of spooks in every country busy. I reckon the Russian are experts on the field of wasting opponents resources (i.e. firing $2000 loittering amo toward UKR and watching the other side launching a multi million Patriot SAM shooting it down).

Fascinating nonetheless.

Canary with a cryptographic component.

Ever hear of the soviet doomsday machine?

[OutOfMemory]

Not "young"   , and I've learned something important and valuable in my long years:

"Never tell me what you are gonna do, tell me what you have done/accomplished."

So if like you say these Bitcoin ETFs are legit up to 500K btc in 3 months, or even 6 months, then color me impressed....then.

But until then, yawn.

But you prematurely judge the "ETF trust guys" as amateurs?
Interesting...

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[WatChe]

Here are some key facts about three full days of trading in the books as of the close of business on Tuesday:

• net inflows into the spot bitcoin ETF appear to be about 21,000 bitcoin (BTC), or $894 million at the current price of $42,600.
• BlackRock's iShares Bitcoin Trust (IBIT) leads the way by adding 16,362 bitcoin.
• Second is Fidelity's Wise Origin Bitcoin Fund (FBTC) with 12,112 bitcoin.
• Sizable exits from Grayscale's Bitcoin Trust (GBTC), which has lost about 25,000 bitcoin, brought down the overall industry inflow.

https://www.coindesk.com/markets/2024/01/17/bitcoin-etf-net-inflows-near-1b-after-three-days/

Eh...so, like, is that all? Really?

Small potatoes.

Shit, Elon Musk bought $1.5B worth of BTC all in one go not too long ago.

Just for the Lulz.

These ETF trust guys are amateurs.  

These stats are of 3 days only, with more passing days we will come to know more about the impact of ETF on bitcoin. There is mix reaction about Bitcoin ETF, some says they will take Bitcoin to moon. While many like me are of the view that Bitcoin will go to moon eventually on it own without any external assistance.


Anyone interested in guessing the final product on the right?

Hint: its made from sugarcane

   
Photo credit: watche

[AlcoHoDL]

A little reminder...

The ascent starts on Monday the 22nd.

HoDL.

[vapourminer]

quick trip through early blockchain analytics, interesting read

Satoshi Nakamoto, the cryptocurrency’s mysterious and unidentifiable inventor, had stated in an email introducing Bitcoin that “participants can be anonymous.”
[...]
This is the story of the revelation in late 2013 that Bitcoin was, in fact, the opposite of untraceable—that its blockchain would actually allow researchers, tech companies, and law enforcement to trace and identify users with even more transparency than the existing financial system. That discovery would upend the world of cybercrime. Bitcoin tracing would, over the next few years, solve the mystery of the theft of a half-billion dollar stash of bitcoins from the world’s first crypto exchange, help enable the biggest dark-web drug market takedown in history

https://arstechnica.com/features/2024/01/how-a-27-year-old-busted-the-myth-of-bitcoins-anonymity/

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[psycodad]

No more streaking...Buddy

Not bitcoin, but I found this "weird" snippet:

https://getpocket.com/explore/item/the-ghostly-radio-station-that-no-one-claims-to-run

What the heck? Bizarro..."the Buzzer", "the Pip" and the "Squeaky Wheel".

I'm of the opinion that it is a canary signal.

* psycodad grabs his old SDR and tunes to 4.625MHz to find out when the world is ending.

It sounds a lot like a combined canary and command channel. I.e. if you hear the buzz, you have reception, all good, carry on.
If the buzz is not there, somebody is blocking/jamming it, use "plan B" (the instructions you got for this situation ahead of time) then.
Otherwise you wait for commands to get active, I assume any commands will be issued either repeatedly or at fixed times (the article doesn't mention that).

But then again, if you're one of the evil super powers, what keeps you from just broadcasting with high power on that frequency a recording of yesterdays buzz to keep the sleepers inactive while you nuke the other evil super power.

Maybe its just a leftover from cold war that they kept running to keep a bunch of spooks in every country busy. I reckon the Russian are experts on the field of wasting opponents resources (i.e. firing $2000 loittering amo toward UKR and watching the other side launching a multi million Patriot SAM shooting it down).

Fascinating nonetheless.

Canary with a cryptographic component.

Ever hear of the soviet doomsday machine?

Are you refering to the Sistema Perimetr? If so, no didn't know that and thanks for the pointer.
Sounds quite scary and amazing at the same time. I don't want to even start to try to dig up what the other nuclear powers have in place for uncomfy situations like a decapitation first strike..

[AlcoHoDL]

quick trip through early blockchain analytics, interesting read

Satoshi Nakamoto, the cryptocurrency’s mysterious and unidentifiable inventor, had stated in an email introducing Bitcoin that “participants can be anonymous.”
[...]
This is the story of the revelation in late 2013 that Bitcoin was, in fact, the opposite of untraceable—that its blockchain would actually allow researchers, tech companies, and law enforcement to trace and identify users with even more transparency than the existing financial system. That discovery would upend the world of cybercrime. Bitcoin tracing would, over the next few years, solve the mystery of the theft of a half-billion dollar stash of bitcoins from the world’s first crypto exchange, help enable the biggest dark-web drug market takedown in history

https://arstechnica.com/features/2024/01/how-a-27-year-old-busted-the-myth-of-bitcoins-anonymity/

Well, it's a public ledger, whatever the implications of that may be. If the endpoints are carefully handled, anonymity can be enhanced, but it's not automatic by design, you need to put an effort and be careful in order to prevent your identity from being leaked.