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

[Carsiden]

Does anyone have an explanation on who keeps lending fresh BTC on bitfinex for those shorts?

Could it be any of the more commercial mining operations that don't want to liquidate their daily BTC in expectation of future rises but need to turn their mining earnings into fiatvaluation for taxation and corporate finance and tax reasons?

[FattyMcButterpants]

Damn, squeezed out my long, which has been open for months.I was in @ around 430.
309@btc-e.
Out of position. cant get back in now.

ouch. why would you keep it open for so long? after the cascade on Bitfinex a few days back, i'd have thought it was time to close all leveraged longs given the spike to $100~ in february. sorry, that sucks.

[Newbie1022]

Does anyone have an explanation on who keeps lending fresh BTC on bitfinex for those shorts?

An interest rate of 0.0055 %/day (2% annual) doesn't seem worth the risk to me.

after BTC swaps shot to 8k BTC, an hour ago there was only miniscule amount available. Now there's again ~ 1000 BTC available to borrow at flash rate of 0.0055 %/day. wtf. who in his right mind is doing this???

wild theory: maybe those are just finexBTC being lent?

Holy s---, hahahaha... they are at 8000 now. WTF?? I mean, that's terrible news, but it is such a ridiculous number that it is quite funny.

Anybody know if the sells from those coins have already hit the market? Is that already priced in? Or, could they have those coins on the sideline to dick around with?

[thefunkybits]

Does anyone have an explanation on who keeps lending fresh BTC on bitfinex for those shorts?

An interest rate of 0.0055 %/day (2% annual) doesn't seem worth the risk to me.

after BTC swaps shot to 8k BTC, an hour ago there was only miniscule amount available. Now there's again ~ 1000 BTC available to borrow at flash rate of 0.0055 %/day. wtf. who in his right mind is doing this???

wild theory: maybe those are just finexBTC being lent?

Perhaps a large market maker who doesn't mind throwing around 100s or 1000s of BTC simply to provide liquidity at all times

A few candidates come to mind:

Tim Draper
Circle
Keiser/Exante
Winklevoss

[fonzie]

If we mange to stay in this price range for 7-14 days longer and the shorts continue to increase around 10-15k then a little rocket will be ready to launch. All we need is a little bit time and more "pro" traders tryin to profit through shortin. Everyone should tell their friends/family to send their money to Finex because shortin BTC right now is practically free money.

[FattyMcButterpants]

Does anyone have an explanation on who keeps lending fresh BTC on bitfinex for those shorts?

An interest rate of 0.0055 %/day (2% annual) doesn't seem worth the risk to me.

after BTC swaps shot to 8k BTC, an hour ago there was only miniscule amount available. Now there's again ~ 1000 BTC available to borrow at flash rate of 0.0055 %/day. wtf. who in his right mind is doing this???

wild theory: maybe those are just finexBTC being lent?

dude, come on. 1000 BTC? that's nothing. a year ago we used to see 5k walls, 5k dumps regularly. 9k total swaps and 1000 "fresh" BTC is nothing. any early adopter could be doing this, no need to make any accusations of finexBTC....

[Newbie1022]

Look at the LTC hogs going up like crazy in a down market. I swear, I think that there is leverage at play and they are going to get slaughtered on the next dip.

On the other hand, and I mention it here for this reason, it could be a sign that we are about to get a bounce on the markets. China's LTC market often times gets a jolt right before the BTC market moves.

[findftp]

Look at the LTC hogs going up like crazy in a down market. I swear, I think that there is leverage at play and they are going to get slaughtered on the next dip.

On the other hand, and I mention it here for this reason, it could be a sign that we are about to get a bounce on the markets. China's LTC market often times gets a jolt right before the BTC market moves.

I also feel something is in the air.
Alts are behaving strange.
Yesterday I did some TA and came to a shocking conclusion.
Next monday (25th) all alt die and bitcoin will moon.
I hashed my prediction into a bitcoin address and sent some satoshis to it for future reference.
I also did put my money where my mouth is.

Just wait and see.... and otherwise,.. down with the ship.

[fonzie]

Look at the LTC hogs going up like crazy in a down market. I swear, I think that there is leverage at play and they are going to get slaughtered on the next dip.

On the other hand, and I mention it here for this reason, it could be a sign that we are about to get a bounce on the markets. China's LTC market often times gets a jolt right before the BTC market moves.

Are you´re still trying to short something that already has been down ~90% from it´s last ATH.   

[adamstgBit]

cant sleep.

[Newbie1022]

Look at the LTC hogs going up like crazy in a down market. I swear, I think that there is leverage at play and they are going to get slaughtered on the next dip.

On the other hand, and I mention it here for this reason, it could be a sign that we are about to get a bounce on the markets. China's LTC market often times gets a jolt right before the BTC market moves.

Are you´re still trying to short something that already has been down ~90% from it´s last ATH.   

Nope. Escaped that other gambit with about a couple dollars lost... I still think it is s--- that might die, though. So I am eyeballing it. That's all.

[samsonn25]

I suspect this also.  Bitfinex no bankroll, but made up inventory to make juice and commission.  And encourage more people to gamble.

[ChartBuddy]

Explanation

[adamstgBit]

Look at the LTC hogs going up like crazy in a down market. I swear, I think that there is leverage at play and they are going to get slaughtered on the next dip.

On the other hand, and I mention it here for this reason, it could be a sign that we are about to get a bounce on the markets. China's LTC market often times gets a jolt right before the BTC market moves.

Are you´re still trying to short something that already has been down ~90% from it´s last ATH.  

its funny I read Newbie1022, then saw i could get out of LTC with minimal losses, i was going for it, LTCs on there way to btc-e now...

but then fonzie knocked some sense into me.

[Newbie1022]

So, basically all of the alts are up big time and we are flat on the whole for the day. http://coinmarketcap.com/

1. So, does this mean that we are really supposed to be breaking the bear trend, now? (I don't think so... the bounce back was anemic and we haven't retested the low); OR

2. The alts didn't get the memo and the gamblers who took out leverage on those because they thought they'd go up faster are now doubling down on the bet to keep pumping the price and they are about to get uber-slaughtered.

[Newbie1022]

Look at the LTC hogs going up like crazy in a down market. I swear, I think that there is leverage at play and they are going to get slaughtered on the next dip.

On the other hand, and I mention it here for this reason, it could be a sign that we are about to get a bounce on the markets. China's LTC market often times gets a jolt right before the BTC market moves.

Are you´re still trying to short something that already has been down ~90% from it´s last ATH.  

its funny I read Newbie1022, then saw i could get out of LTC with minimal losses, i was going for it, LTCs on there way to btc-e now...

but then fonzie knocked some sense into me.

I am talking short-term (next few days), anyways, whereas you are probably playing at least a middle-term game. You're a smart cat and they are very cheap historically now.

Specifically, I wonder whether people tossed the leverage behind BTC on the rally or behind Alts on the rally because the Alts would have a higher bounce. I suspect the latter and I think it is why they are still high on the day... I think that's where the leverage game moved to.

[barbs]

So, basically all of the alts are up big time and we are flat on the whole for the day. http://coinmarketcap.com/

1. So, does this mean that we are really supposed to be breaking the bear trend, now? (I don't think so... the bounce back was anemic and we haven't retested the low); OR

2. The alts didn't get the memo and the gamblers who took out leverage on those because they thought they'd go up faster are now doubling down on the bet to keep pumping the price and they are about to get uber-slaughtered.

I'm going with 3.) No one knows wtf is going on and the whales have successfully completed confused the minnows

[FattyMcButterpants]

Look at the LTC hogs going up like crazy in a down market. I swear, I think that there is leverage at play and they are going to get slaughtered on the next dip.

On the other hand, and I mention it here for this reason, it could be a sign that we are about to get a bounce on the markets. China's LTC market often times gets a jolt right before the BTC market moves.

Are you´re still trying to short something that already has been down ~90% from it´s last ATH.   

truth haha. not that it can't go down further -- it probably will actually -- but the bounces can be soul crushing for shorts. the #1 PAMM account on BTCE (JS) was trading like $100k and got his account wiped out. the timing looks like he was shorting LTC at the bottom.....

[adamstgBit]

Look at the LTC hogs going up like crazy in a down market. I swear, I think that there is leverage at play and they are going to get slaughtered on the next dip.

On the other hand, and I mention it here for this reason, it could be a sign that we are about to get a bounce on the markets. China's LTC market often times gets a jolt right before the BTC market moves.

Are you´re still trying to short something that already has been down ~90% from it´s last ATH.  

its funny I read Newbie1022, then saw i could get out of LTC with minimal losses, i was going for it, LTCs on there way to btc-e now...

but then fonzie knocked some sense into me.

I am talking short-term (next few days), anyways, whereas you are probably playing at least a middle-term game. You're a smart cat and they are very cheap historically now.

Specifically, I wonder whether people tossed the leverage behind BTC on the rally or behind Alts on the rally because the Alts would have a higher bounce. I suspect the latter and I think it is why they are still high on the day... I think that's where the leverage game moved to.

not at 5am after watching bitcoin recover 5-6% only to get smashed again

at this point, i'm all feeling no brains....

Alts are rallying because traders are like " oh shit my BTC is losing value better dump it for my fav alt NOW "

[samsonn25]

So, basically all of the alts are up big time and we are flat on the whole for the day. http://coinmarketcap.com/

1. So, does this mean that we are really supposed to be breaking the bear trend, now? (I don't think so... the bounce back was anemic and we haven't retested the low); OR

2. The alts didn't get the memo and the gamblers who took out leverage on those because they thought they'd go up faster are now doubling down on the bet to keep pumping the price and they are about to get uber-slaughtered.

Most if not all alt coins are dying from 6 months ago and 1 year ago.