Bitcoins are officially donkdown

[Sanlmar]

Big green dildo

You look around, there’s gonna be some jumpy orphans around here next few days.

[sonatine]

amazon accepting btc by end of year, is the rumor behind this.

[Daly]

amazon accepting btc by end of year, is the rumor behind this.

It’s a rumor sure but really more just the fear and panic washout is over. 12 weeks ago “everyone” was buying in. 12 hours ago “everyone” was shorting.

I think it’s a real possibility we just established a generational floor at 29/30 never to be seen lower again unless a major deflation event or if BTC gets usurped.

[simpdog]

amazon accepting btc by end of year, is the rumor behind this.

I'm reading short squeeze. Not sure what's more correct or a little bit of both.

[Sanlmar]

The martial arts, like trading, use an opponent’s strength against them.

[sonatine]

amazon accepting btc by end of year, is the rumor behind this.

I'm reading short squeeze. Not sure what's more correct or a little bit of both.

im unaware of any resources in play in the necessary volumes that could be used to facilitate any sort of squeeze (short / gamma / whatever) on btc.

[sonatine]

its worth noting that the chinese stock market just quite literally imploded in the last hour.

i think this is the biggest intraday drop in its history.

there are no such thing as coincidences.

[Sanlmar]

its worth noting that the chinese stock market just quite literally imploded in the last hour.

i think this is the biggest intraday drop in its history.

there are no such thing as coincidences.

As we begin trading cash this morning props for making the Friday ATH call last Tuesday in the midst of the dump.

It’s already crazy let alone earnings

Let me take this moment to wish nothing but bad things for Amazon. “Fuck them” speaking of tech crackdowns in China

[sonatine]

I'm reading short squeeze. Not sure what's more correct or a little bit of both.

im unaware of any resources in play in the necessary volumes that could be used to facilitate any sort of squeeze (short / gamma / whatever) on btc.

i'm seeing people refer to this as a short squeeze on CT so maybe im wrong?

personally i still think we're just seeing china ape into the market, i dont think this is any sort of squeeze per se. ill obviously ping back if i find anything definitive. but fwiw something like 85k crypto trading accounts just got liquidated.

[TheXFactor]

[sonatine]

so this is the case being made that this is a legitimate squeeze brought on by retail traders doing btc options

Embedded Tweet

https://twitter.com/enriqueabeyta/status/1419663909158535179

i dont believe it, personally. theres not enough volume, the IV is batshit, etc etc. ive been wrong before but honestly this reads like someone overfitting a meme theory, not any sort of methodical proof that the retail options market on bitcoin are somehow forcing market maker shorts to cover.

[Sanlmar]

amazon accepting btc by end of year, is the rumor behind this.

Amazon: No, We Have No Plans to Accept Bitcoin Payments

The truth and the catalyst are two separate things.

Fascinating though

[Daly]

Could very well be as simple as BTC is “a thing” that’s here to stay. It washed out form peek bullishness to peek fear. The ~29-31K level held. Not it’s time to try 41-42 to the high side.

[sonatine]

Could very well be as simple as BTC is “a thing” that’s here to stay. It washed out form peek bullishness to peek fear. The ~29-31K level held. Not it’s time to try 41-42 to the high side.

this is a curious tipping point honestly. it really feels like retail pressure is welding us to the crypto ecosystem despite billions of totally uninsured dollars being routinely pilfered / ethered / outright lost because someone forgot their passphrase.

when warren describes the risk of integration as essentially putting the health of the world financial system into the hands of shadowy coders, like, something i notice is how her mortal enemies are quietly nodding in agreement.

[Daly]

Could very well be as simple as BTC is “a thing” that’s here to stay. It washed out form peek bullishness to peek fear. The ~29-31K level held. Not it’s time to try 41-42 to the high side.

this is a curious tipping point honestly. it really feels like retail pressure is welding us to the crypto ecosystem despite billions of totally uninsured dollars being routinely pilfered / ethered / outright lost because someone forgot their passphrase.

when warren describes the risk of integration as essentially putting the health of the world financial system into the hands of shadowy coders, like, something i notice is how her mortal enemies are quietly nodding in agreement.

I agree re: tipping point.

This isn’t about a bunch of kids and hedge funds making $$. Furthermore it’s not about anything being placed into the hands of “shadowy coders”. It’s about control and king dollar. It’s about the government, the current world order and the power of the shadowy fed presidents.

I do think they powers that be will try and compete with BTC using the Euro coin or the USD coin….. but most people will see through that is just an extension of fiat. Even more printing if you like.

If inflation gets to where some think it’s headed and BTC gets to 100-250K a coin we will reach a point where they either get in bed with it and make peace with it like they have gold, or they may try and “shut it off”.

[sonatine]

this is a curious tipping point honestly. it really feels like retail pressure is welding us to the crypto ecosystem despite billions of totally uninsured dollars being routinely pilfered / ethered / outright lost because someone forgot their passphrase.

when warren describes the risk of integration as essentially putting the health of the world financial system into the hands of shadowy coders, like, something i notice is how her mortal enemies are quietly nodding in agreement.

I agree re: tipping point.

This isn’t about a bunch of kids and hedge funds making $$. Furthermore it’s not about anything being placed into the hands of “shadowy coders”. It’s about control and king dollar. It’s about the government, the current world order and the power of the shadowy fed presidents.

I do think they powers that be will try and compete with BTC using the Euro coin or the USD coin….. but most people will see through that is just an extension of fiat. Even more printing if you like.

If inflation gets to where some think it’s headed and BTC gets to 100-250K a coin we will reach a point where they either get in bed with it and make peace with it like they have gold, or they may try and “shut it off”.

my inner conspiracy theorist really does believe that btc is being trotted out as some sort of viable scapegoat for the inevitable and impending collapse of the entire capitalist system.

"dont look at us, you forced us to destabilize a working system with your digital beanie babies. democracy worked!"

- every single politician as if with one voice

[Daly]

Nobody should own 100% Bitcoin.

At the same time nobody should own 0%.

[Daly]

Miracle this is still on page two between the price action and the amendments to the spending bill.

[Daly]

Bitcoin has slipped to $90 after holding steady from $105-$115 for a long time.

I wonder if this is the start of a second crash.

Sorry if this bump comes off as breaking balls (ok maybe a little bit). I guess it just goes to show how long this thread has been going.

[simpdog]

We could all be living the Nicky Pipes lifestyle had Druff convinced us all to buy instead of avoid due to the impending crashes.

Just kidding Druff, it took me until 2020 to actually buy any crypto I planned on keeping. Hopefully some decent returns but no yachts or buying islands over here.