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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[vapourminer]

...wondering if we're not going to re-test $40k at this rate.

or 30k 

Split the difference?

done, ill go set my buys @ 35k now

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[FinePoine0]

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

Being manufactured in the open, dirty environment, injurious to health.  
Keep away from children, discomfort may occur.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[dansus021]

Today, the market is dumped ETF seems not to make difference to the price tho


https://twitter.com/WhaleWire/status/1748065165491188212

what do you guys think?

[Biodom]

Today, the market is dumped ETF seems not to make difference to the price tho


https://twitter.com/WhaleWire/status/1748065165491188212

what do you guys think?

I think that this twitter poster does not know "maf":

0.001% is 1/100000 of value.
1/100000 of about 800 bil is 8 million.
I am 100% sure that more than 8 mil was deposited into ETFs.
In fact, it's more like 80-100X of 8 million.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[El duderino_]

...wondering if we're not going to re-test $40k at this rate.

or 30k 

Split the difference?

done, ill go set my buys @ 35k now

But but

Last months been able of buying those prices and cheaper all the time… 🤔

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[DirtyKeyboard]

ChartBuddy's 24 hour Wall Observation recap
..
Credit to ChartBuddy and good day to all

[DaRude]

Today, the market is dumped ETF seems not to make difference to the price tho


https://twitter.com/WhaleWire/status/1748065165491188212

what do you guys think?

I think that this twitter poster does not know "maf":

0.001% is 1/100000 of value.
1/100000 of about 800 bil is 8 million.
I am 100% sure that more than 8 mil was deposited into ETFs.
In fact, it's more like 80-100X of 8 million.

But mafs are hard! It's hard to gauge how much of it is being reshuffled vs cashing out vs new money coming in. GBTC has been selling over BTC10.000/day, but others see inflows that more than offset it. Also. futures and ETFs in other countries see outflows, and now there are also rumors of miners dumping BTC10.000. So no one really knows what to make out of it thus the volatility, but what we do know is at $42k/BTC we only need $38MM of new capital inflow per day to buy up all new BTC, and that's about to drop to just $19MM/day in 3 month, and then just $9.5MM/day in about 4yrs3m...not just in ETFs but globally

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[BitcoinBunny]

Today, the market is dumped ETF seems not to make difference to the price tho


https://twitter.com/WhaleWire/status/1748065165491188212

what do you guys think?

I think that this twitter poster does not know "maf":

0.001% is 1/100000 of value.
1/100000 of about 800 bil is 8 million.
I am 100% sure that more than 8 mil was deposited into ETFs.
In fact, it's more like 80-100X of 8 million.

Correct. The correct value is 0.1%, and that is the daily trade value, not what is held, which is probably higher.

The total gold ETF market cap is 1.7% of all gold.

I'd say BTC has done well getting 5+% of that share within a week.

Consider that gold is a much bigger marketcap pie and the ETFs have been trading for 20 years, and importantly does not have the massive new supply limitation every 4 years.

It will be very interesting to see where this goes 4-8-12 years from now.


Furthermore, that tweet is extremely negative from the first few words. It's like saying here in the UK temperatures dropped to yearly lows yesterday. It's just stupid. The year just got started!

Not until you are about halfway through the year do I think it's acceptable to write stuff like "yearly lows" etc.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[hisslyness]

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

Make that $1.06B as of the 17th January 2024

+$300M in 1 day…

Upswing will come, in the meantime HODL strong and BTFD!

[OutOfMemory]

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

Make that $1.06B as of the 17th January 2024

+$300M in 1 day…

Upswing will come, in the meantime HODL strong and BTFD!

Always funny how a long term developing taxonomy is being evaluated from a short term view, regarding that 0,001% tweet 
It seems like the old "It's a bubble" narrative from 10 years ago managed to hold up.