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

[ChartBuddy]

Explanation
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[BitcoinBunny]

Reddit, Twitter?

You filthy cheater.

[ChartBuddy]

Explanation
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[ChartBuddy]

Explanation
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[BitcoinBunny]

[somac.]

$70,000 still a tough nut to crack by the looks of it. We’ll smash through it soon though, I really don’t know why people are selling or shorting in this range. It’s like picking up pennies in front of a steaming locomotive.

I think this time next year we will all be a hell of a lot richer than we are now. It’s the start of the business end of this four year cycle. Don’t drink too much, don’t take too many drugs, cut down on the hookers. We all need to be of sound mind for 18 months now.

Those sellers are probably exchanges selling paper bitcoin to the inflows. It's how Binance keeps its own centralized shitcoin afloat I bet. For whatever reason many exchanges hate Bitcoin.

[shahzadafzal]

Reddit, Twitter?

You filthy cheater.

WhatsApp :p

But watermark suggests The BTC The Rapist

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Lucius]

$70,000 still a tough nut to crack by the looks of it. We’ll smash through it soon though, I really don’t know why people are selling or shorting in this range. It’s like picking up pennies in front of a steaming locomotive.

I think this time next year we will all be a hell of a lot richer than we are now. It’s the start of the business end of this four year cycle. Don’t drink too much, don’t take too many drugs, cut down on the hookers. We all need to be of sound mind for 18 months now.

Those sellers are probably exchanges selling paper bitcoin to the inflows. It's how Binance keeps its own centralized shitcoin afloat I bet. For whatever reason many exchanges hate Bitcoin.

They don't literally hate BTC, they just think that a lot more money can be made from all those shitcoins that are listed on their platforms. In addition, they all have their own tokens that they try to push as something that brings profit, but in fact they sell one big nothing.

At the end of the day, that CEX you mentioned became one big spy platform anyway, because CZ had to pay for its freedom with something extra besides a bunch of money.

[ChartBuddy]

Explanation
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[Zeunerts]

[philipma1957]

$70,000 still a tough nut to crack by the looks of it. We’ll smash through it soon though, I really don’t know why people are selling or shorting in this range. It’s like picking up pennies in front of a steaming locomotive.

I think this time next year we will all be a hell of a lot richer than we are now. It’s the start of the business end of this four year cycle. Don’t drink too much, don’t take too many drugs, cut down on the hookers. We all need to be of sound mind for 18 months now.

Those sellers are probably exchanges selling paper bitcoin to the inflows. It's how Binance keeps its own centralized shitcoin afloat I bet. For whatever reason many exchanges hate Bitcoin.

They use and abuse BTC.

[Zeunerts]

- Thailand approves first spot Bitcoin ETF.
- Australia’s first Bitcoin ETF launched today.
- US Bitcoin ETFs saw $105 million in inflows yesterday, the 15th straight day of inflows.
- The state of Wisconsin is investing in Bitcoin
- Hong Kong Bitcoin ETFs saw $32 million in inflows yesterday.

When supply shock? Bears are about to get fucked, hard.

[ChartBuddy]

Explanation
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[Lucius]

- Thailand approves first spot Bitcoin ETF.

Great news - first they banned Bitcoin as a means of payment, but they don't mind trading through ETFs - is that called adaptation or?

When supply shock? Bears are about to get fucked, hard.

When I last looked at the liquidity data on CEXs, it said that they had about 1.8 million BTC - and regardless of the accuracy of the data, I think that the supply shock that has been talked about for years is not yet in sight.

[WatChe]

Bitcoin still fighting for a breakout which will happend...today ore later this week i hope.

Bitcoin cycle these days be like :

1. Start from 60k$
2. Move to 63-64k and stay there for a while.
3. Move to 68k and make people excited.
4. Move to 70k and make people excited for new ATH.
5. Fall back to step 1 or 2.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[psycodad]

- Thailand approves first spot Bitcoin ETF.

Great news - first they banned Bitcoin as a means of payment, but they don't mind trading through ETFs - is that called adaptation or?

Hypocrisy?

When supply shock? Bears are about to get fucked, hard.

When I last looked at the liquidity data on CEXs, it said that they had about 1.8 million BTC - and regardless of the accuracy of the data, I think that the supply shock that has been talked about for years is not yet in sight.

According to Coinglass it's ~2.5m currently.
But IMHO only a small percentage of that balance is actually in the orderbooks and their owners willing to let these coins change hands. Also the amount decreases quickly and seems to be at an all time low right now:



To demonstrate to a coiner friend where we currently are in Bitcoin supply/inflation life, I created a tiny script to output supply, supply % and halving year:

Halving 1 in 2012 (at block # 210000) supply: 10500000.0000 (50.000%)
Halving 2 in 2016 (at block # 420000) supply: 15750000.0000 (75.000%)
Halving 3 in 2020 (at block # 630000) supply: 18375000.0000 (87.500%)
Halving 4 in 2024 (at block # 840000) supply: 19687500.0000 (93.750%)
Halving 5 in 2028 (at block # 1050000) supply: 20343750.0000 (96.875%)
Halving 6 in 2032 (at block # 1260000) supply: 20671875.0000 (98.438%)
Halving 7 in 2036 (at block # 1470000) supply: 20835937.5000 (99.219%)
Halving 8 in 2040 (at block # 1680000) supply: 20917968.7500 (99.609%)
Halving 9 in 2044 (at block # 1890000) supply: 20958984.3750 (99.805%)
Halving 10 in 2048 (at block # 2100000) supply: 20979492.1875 (99.902%)
Halving 11 in 2052 (at block # 2310000) supply: 20989746.0927 (99.951%)
Halving 12 in 2056 (at block # 2520000) supply: 20994873.0453 (99.976%)
Halving 13 in 2060 (at block # 2730000) supply: 20997436.5216 (99.988%)
Halving 14 in 2064 (at block # 2940000) supply: 20998718.2587 (99.994%)
Halving 15 in 2068 (at block # 3150000) supply: 20999359.1262 (99.997%)
Halving 16 in 2072 (at block # 3360000) supply: 20999679.5589 (99.998%)
Halving 17 in 2076 (at block # 3570000) supply: 20999839.7742 (99.999%)
Halving 18 in 2080 (at block # 3780000) supply: 20999919.8808 (100.000%)
Halving 19 in 2084 (at block # 3990000) supply: 20999959.9341 (100.000%)
Halving 20 in 2088 (at block # 4200000) supply: 20999979.9597 (100.000%)

Right now we're at 93.84% of supply mined and the demand from institutional money is at record heights, I am none the wiser than you but I have a feeling the much bespoken supply shock is very close (rather weeks or months but not years I'd say).

[Paashaas]

Breakout...for real this time?

[El duderino_]

70 on the menu?
Swinging balls on the B day.
Colliding with corn.

Golf is more fun as I thought.