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

[Biodom]

You want my name don't you?  

No am not
I'm Batman
The batman.


Usually a dip before the halving.
History like always,repeating itself.  

I love when people say "But Bitcoin isn't backed by anything"

As opposed to either criminal or hypocritical woke enterprises backed by dumb share holders?
Enterprises that couldn't run a fucking bath?

Look at the uselessness of the likes of Disney and Royal Mail these days.

Utterly pathetic.

Their shares should be below zero these days to show the companies' true valuations.  

Bitcoin is backed up by it's service, community and future.
Most of these hypocrites are one way or the other in relation with shares of company with no intrinsic value
Like how Bitcoin is called.

the US dollar is backed by the belief and credit of the US government( the government debt).

Does the US dollar really have any intrinsic value? No
But Bitcoin is been called out everytime that it lacks intrinsic value.

I'm getting used to muting all this shenanigans.

Control the size of your pics and empty spaces, please.

[1714325713]

1714325713

[1714325713]

1714325713

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Ambatman]

In any event, so far, as I type this post, we have a 21.5% correction from $49,048 to $38,505, and your chart is building-in a 42% correction for this (pre-halvening correction)

Sigh I thought 42% was the current fall.
Didn't really think it through
Goodness, today has really been hectic for me
Let it get to weekend I really need to relax.

Control the size of your pics and empty spaces, please

Thanks for pointing it out.  Didn't really notice the sizing.

[jojo69]

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

Explanation
Chartbuddy thanks talkimg.com

buddy you still don't have to balls to awaken JJG

[hisslyness]

From my basic calculations of net inflow in newly created US ETF, it is about 44,911 Bitcoin or roughly 2,994 Bitcoin per day.

*** (New US ETF In - GrayScale ETF Out = Net US Inflow)

Might take a little longer for all the GrayScale Bitcoin to be absorbed, or they could just lower their fees to 0.25% like everyone else and we can all get out of this brace position.

[log2exp]

From my basic calculations of net inflow in newly created US ETF, it is about 44,911 Bitcoin or roughly 2,994 Bitcoin per day.

*** (New US ETF In - GrayScale ETF Out = Net US Inflow)

Might take a little longer for all the GrayScale Bitcoin to be absorbed, or they could just lower their fees to 0.25% like everyone else and we can all get out of this brace position.

GrayScale is trying to copy the hard cap of 21mil bitcoins, by hard capping their fees.

[Torque]

OT:

With the U.S. and China now in financial ruins with running up and then crashing their economies with massive decade-long Ponzi property scams, I'm sure that TPTB are licking their lips looking for the next under developed nation they can run the same by-the-numbers nation building financial scam on. The trillions of newly printed U.S. dollars must stay abroad and not come home.

My guess is that it'll be India next. So what makes me say that?

It's perfect: a nation of 1.4 Billion people, still a bit behinds the times, still steeped in traditional living (like China was) and household savings, but with an increasingly progressive youth populous that would be easily manipulated into FOMO and hungry for new paper wealth. They used to be primarily an agricultural nation, but are moving more and more into manufacturing and IT.

Just start injecting hundreds of billions of dollars into it's economy and major cities, creating new white collar office and blue collar factory jobs, building up their cities and property markets, creating FOMO into better standards of living, lifestyle and luxury goods and services wants. Before you know it, they'll be flying high saying that they are the next "China".

The ultimate goal, of course, is to get it's citizens to stop all that nonsense saving and wealth hoarding, and get them to part with it, FOMO'ing into their stock market and newly created real estate investments.

You can see Apple and other tech companies already expanding into India very fast.

It's only a matter of time and enough money....

They're talking more and more about The Great Pivot To India^TM... it's in the works....money stream warming up....

https://www.cnbc.com/2024/01/24/us-firms-prefer-india-over-china-for-supply-chain-needs-despite-risks.html

“Companies are seeing India as a long-term investment strategy as opposed to a short-term pivot to avoid tariffs,” said Samir Kapadia, CEO of India Index and managing principal at Vongel Group, in an exclusive interview with CNBC.

Warming ties between the U.S. and India, spearheaded by President Joe Biden and Prime Minister Narendra Modi, with the former’s “friendshoring” policy aimed at encouraging U.S. companies to diversify away from China have also made India an attractive alternative.

The relationship between the two countries entered a new chapter with Modi’s state visit to the White House in June where a slew of deals on large collaborations in defense, technology and supply chain diversification were signed.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[dansus021]

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.

Oh you should follow that account dude he said a lot of negative about Bitcoin I don't know if he likes bitcoin or not but you can see the content https://twitter.com/WhaleWire

https://twitter.com/WhaleWire/status/1731573099642978458

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[bitmover]

Just think about it, a $100 per week invested into bitcoin over the last 4 years would have had resulted in more than 1 BTC (at 1.0505), but if you had been wanting to double the quantity of your BTC holdings in a similar amount of time, you may well need to increase your investment rate by 4x to 6x or maybe even more.

This is basically what signature campaigns are about!! A few hundreds dollars of btc each week

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

Just think about it, a $100 per week invested into bitcoin over the last 4 years would have had resulted in more than 1 BTC (at 1.0505), but if you had been wanting to double the quantity of your BTC holdings in a similar amount of time, you may well need to increase your investment rate by 4x to 6x or maybe even more.

This is basically what signature campaigns are about!! A few hundreds dollars of btc each week

It is a nice way to augment your dollar cost averaging into the market. A few hundred dollars a week for posting on the internet never did anyone any harm. With Bitcoin’s extreme value increases over the years, something as small as internet advertising can make a big difference over enough time.

[bitserve]

Dear customer.

This email is to let you know your wallet assets are undergoing a upgrade.

In an effort to upgrade our infrastructure we are temporarily disabling the following networks:

BTC, ETH, XRP, ERC20, BEP20, TRON, TRC20
We are requiring action from our users to re-enable the networks.

Important: Failure to upgrade your networks could result to full funds loss.

suite.trezor.io/upgrade

And then:

https://twitter.com/Trezor/status/1750223673506558146

🚨 Security Alert 🚨

We've detected an unauthorized email impersonating Trezor sent from a third-party email provider we use.

If you received a suspicious email with the subject line 'Assets undergoing upgrade' from the ID: noreply@trezor.io, please do not click any links or provide any info within.

We request you to delete that email immediately.

Your trust is our priority:
✅Rest assured, your wallets & funds remain secure.
✅Remember, NEVER disclose your recovery seed.
✅Stay vigilant for phishing attempts.

Apologies for any worry caused. We're actively handling the situation & will provide updates

Below is a screenshot of the email.

Digging a big deeper, this is are my preliminary conclusions:

1) An attacker gained control of a third-party email provider they use... presumably gaining full access to the database of (at least) email addresses of Trezor users.

2) They did gain enough access as to be able to send the "phishing" (but otherwise coming from the real source) emails directly from the email provider.

3) They did gain enough access as to be able to add a malicious link in a website under the LEGIT subdomain of mailing.trezor.io.

4) They quickly (1-2 hours after the email I received) posted the above twitter advice (this is reasonably quick)

5) They failed to use the same via (EMAIL) to quickly alert users of the incident... Probably because by that time they had already removed the offending destination link anyways (not good not terrible).

6) In the same way that Ledger did (in an even bigger fuckup), they fail to acknowledge how serious it is for this kind of companies to keep falling in the same errors again and again (mostly by trusting third parties with users data).

Really.... Will they never learn anything? Will they keep behaving as if security and privacy of their customers isn't of utmost importance in this field? As if nothing happened here?

Bleh. Nothing to see here for most of the people... I guess... but I am a bit annoyed and worried thinking about what their (not Trezor specifically... any of them) next fuckup could be.
 
nuff rant.

[DaRude]

Grayscale deposited 14,487 $BTC($579M) to #CoinbasePrime and 4,750 $BTC($189.8M) to new wallets again 10 mins ago. #Grayscale has deposited 93,700 $BTC($3.85B) to #CoinbasePrime since the #ETF was passed. And currently holds 519,399 $BTC($20.84B).
https://twitter.com/lookonchain/status/1750167124150993345
https://platform.arkhamintelligence.com/explorer/entity/grayscale

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The question no one is raising is whether the transfer of Bitcoins from Grayscale to Coinbase Prime constitutes a mandatory sale, and what type is it? To the best of my knowledge, coinbase prime is not an exchange in its own right, but rather a licensed custodian and seller of bitcoins. They use several exchanges when selling and buying, I guess Coinbase, Kraken, etc. We see 15K bitcoins going into coinbase prime every day. But are they all for sales? It strikes me that since the drop below 40K the trading volume on Coinbase is quite low - about 25K bitcoins in 24 hours, something that was before the ETF. This means that no major selling has actually occurred from Coinbase Prime. Whether the ETF allows to request a limit sale - at a certain price, I do not know, I have never worked with an ETF. Or, there is a possibility that they are not currently for sale, but that Grayscale expects such sales in the coming days and is preparing. There is also a considerable part transferred to new addresses. What's going on with Grayscale is suspicious, to say the least. Apparently they are trying to lie to the SEC that Genesis is not bankrupt by inducing sales to cover their liabilities. Whether they will succeed is rather doubtful. Practically every company which went bankrupt - FTX, Alameda, etc., was involved with Grayscale, to say the least. Some even claim that they went bankrupt thanks to Grayscale and Genesis in particular. Everything is described in detail in this long thread: https://twitter.com/real_vijay/status/1721385528510251182 . At any moment, the SEC could end its investigation and charge them with fraud and manipulation and shut down their company and their ETF. Maybe that's why Barry is keeping quiet and letting the bitcoins drain from his trust.

Coinbase is the custodian for 8 out of the 10 ETFs, so little surprise that they don't move money between their own accounts on the blockchain. For the other stuff to be true Coinbase needs to directly collaborate with DCG on an obvious scam that a 5yr old can prove, so extremely unlikely.

Another well known twitter acount on this topic:

Wrote about the FTX bankruptcy estate position and sales yesterday. Mainly how they were likely impacting more than just $GBTC. Also. Everyone was fixated on FTX in the last week as *THE* seller of $GBTC shares. The largest "known" holder of GBTC is actually DCG itself. I'd honestly be surprised if DCG hasn't been part of this GBTC selling. Probably other institutions in very similar situations

https://twitter.com/JSeyff/status/1750262532500062242

That would be pretty funny, and i don't even doubt that even DCG would cash out of its own ETF (or ETF that its sub operates) I'm sure that they're ready to close that ETF and concentrate on repeating this with shitcoin trusts with wider profit margins than 20 basis points.

[fillippone]

https://twitter.com/WhaleWire/status/1731573099642978458

Bitcoin negative in 2024:

• ETF
• Halving
• FED Rates CUT
• US Presidential Election
• US Fiscal Complacency

That could be a true disappointment, frankly. Yes, stacking more sats, but disappointing.