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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[El duderino_]

I feel like the halving correction is now upon us as people will be scared and taking profits

Will never make sense to me…
Having fear for the halving…
IMHO it’s a price increase instead of decrease situation.

[dragonvslinux]

I feel like the halving correction is now upon us as people will be scared and taking profits

Will never make sense to me…
Having fear for the halving…
IMHO it’s a price increase instead of decrease situation.

I don't think it's fear at, but since 2016 there have been considerable corrections/consolidation prior to and after the havling. Most notably, no upside immediate prior of after.

Whether that happens this time around is a different story, but history often repeats. Personally I think it's more about miners selling prior to switching off.

[philipma1957]

we might need to retest 50k one last time before (hopefully) never coming back

Over the years…. Tested that enough

We have to test 100k and beyond…

That’s the true testing phase
The not joining cheap anymore, the they have had enough chances and now it’s for those who understand/believe

this is a corn 🌽 sale.

I grabbed .025 nice and cheap.
Ready for more if it drops.

[cygan]

[philipma1957]

I feel like the halving correction is now upon us as people will be scared and taking profits

Will never make sense to me…
Having fear for the halving…
IMHO it’s a price increase instead of decrease situation.

Quite a bit of turmoil for miners. So a lot of coin is dumped by them early so they will have the funds t9 mine on during the first three to six months after the mining ⛏️.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OgNasty]

Saylor has made his purchase.  That is what seems like stopped the bleeding at $62K.  A bit worrisome now that there is no major buys in the pipeline for the moment and a whole lot of selling going on.  Again, I think this is probably a good selling point for traders in the short term and the next month has the potential to be a bloodbath, but if you've been holding for years it doesn't make sense to panic now.  Do yourself a favor and take a vacation or close your eyes until summer is over, because things might get ugly here.  I hope I'm wrong and we retest the highs next week, but I'm guessing a more likely scenario is a retest of $50K over the next month.

[DaRude]

Isn't it $40b? It shouldn't take that long I don't think, maybe another month or two? Especially if the selling continues to increase.

Can someone remind me how much Bitcoin GBTC had to begin with, how much they've sold already? Want to calculate what the timeframe is looking like.

Ironically without GBTC outflows, there basically are no outflows, even if lower inflows at present, which speaks volumes...

The sooner that GBTC is flushed out the market the better.

At the time of approval of the spot ETFs, Grayscale had just over 600 000 BTC, and according to the data I am looking at today, it has about 368 000 BTC - which means that their bag is still quite full. It seems that a few more months will pass until they sell everything they have planned.


Source

Yep they started with BTC619k, already lost over BTC250k (~40%), so as of yesterday they're down to BTC369k. I don't think people realize just how much corn that is. We're about to enter an epoch where only BTC164k will be mined in a year, and only BTC656k will be mined in the next epoch (4yrs).

Now of course they could've just kept their fees in line with everyone else, be a hero in the community and create a legacy, becoming the oldest largest and still growing ETF which even Blackrock couldn't touch, but no, those fuckers decided to kill the golden goose, and fuck everyone with 1,5% for another few years while everyone runs to Blackrock. I guess the math is simple, 0,2% from BTC619k is only BTC1.238yr in fees. So with 1,50% fees while they manage to hold on above BTC82.533 they're better off, after that...
I guess they saw how much they fucked up and now trying to do some damage control

The asset manager submitted plans for the Grayscale Bitcoin Mini Trust, which would be physically backed by the cryptocurrency and trade under the ticker ‘BTC,’ a Tuesday filing showed.

If approved, the exchange-traded fund would be seeded with an unspecified percentage of the world’s biggest Bitcoin ETF, Grayscale Bitcoin Trust (GBTC), and existing GBTC shareholders would automatically have shares of both GBTC and BTC without creating a taxable event, according to the filing.
...
Fees for BTC aren’t yet listed, but are expected to be lower than GBTC, according to a person familiar with the matter.

[vroom]

Source

yeah, why not post something in klingon next time?

[d_eddie]

this is a corn 🌽 sale.

I grabbed .025 nice and cheap.

I had a spot order on bitmex, it had been sitting there for a while and got triggered. Well below market price. Not at 8.9k though...

Ready for more if it drops.

You and me both.

[OutOfMemory]

yeah, why not post something in klingon next time?

Don't challenge me  

EDIT: So Tengwar would be OK? 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[bitcoinPsycho]

https://youtu.be/2c1D7wxoRQQ?si=Vzqzr0kIpVZL52fy

[OutOfMemory]

EDIT: AND WHEN YOU THOUGHT YOU'VE SEEN IT ALL...
Yesterday somebody stole our hay from the haybarn when we were away.
They only left as much for the horses to be fed another day. 
Fucking sickos! 

I was thinking about security cameras before, but now i'm already shopping online while writing this.

Those bastards.

Too bad you can't train one of your horses on how to use a shotgun.

Hell no!
Still in the fantasy realm, i'd train them how to use a Taser and keep the fucker entertained until i'm home.
Then the real fun begins 

[AlcoHoDL]

https://youtu.be/2c1D7wxoRQQ?si=Vzqzr0kIpVZL52fy

The ending was fun:

But... Ultimately... There are always only 3 rules to Bitcoin:

1. You buy Bitcoin,
2. You shut the fuck up,
3. You get fabulously wealthy!

[bitcoinPsycho]

https://youtu.be/2c1D7wxoRQQ?si=Vzqzr0kIpVZL52fy

The ending was fun:

But... Ultimately... There are always only 3 rules to Bitcoin:

1. You buy Bitcoin,
2. You shut the fuck up,
3. You get fabulously wealthy!

Poetry 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Hueristic]

I feel like the halving correction is now upon us as people will be scared and taking profits

Will never make sense to me…
Having fear for the halving…
IMHO it’s a price increase instead of decrease situation.

Short term sharks top up before and during pre halfing hype and then dump when they think its topped.

[OgNasty]

Things are starting to look bad...  I'm seeing people on Twitter saying that Coinbase isn't crediting their deposits of not only Bitcoin, but altcoins as well.  No news articles yet so take that with a grain of salt.  Seems like the cracks are definitely forming though.  Not processing deposits is sort of the other side of going offline when the price is shooting up.  Looking like more downside in the immediate term.  Shorts are no doubt building up on the ETFs.  They will be the fuel for the rocket to the moon once we're done defending the building of short positions, profit taking, and panic selling.  What price level that will be is anyone's guess.