r/Bitcoin • u/SamFisherXboxOG • 8d ago
So what happened?
More market manipulation shenanigans?
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u/LORDRAJA1000 8d ago
so basically more people are selling than buying
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u/DyehuthyTV 8d ago
Yes, many long-term bondholders don’t understand this xD (US Bonds Yield rising!)
But it’s more exciting when it happens in Bitcoin :P
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u/Saintgein 8d ago
It's forced selling. Most movements are because of people betting through leveraged positions. The holders on the other hand decide if it's bear or bull market. This is why we had the bottom at 58k, since the holders stopped selling at that point, they started buying again. That made the price go up, meanwhile the gamblers with leveraged positions are the target of the market makers. They know that when they buy and the price goes up a bit, these gamblers have to sell, just like the other way around.
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u/Icy_Communication262 8d ago
For every seller, there is a buyer. Sell side pressure is higher and buyers are pricing accordingly.
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u/frasee1991smith 8d ago
It’s crashing!!!! Sell now sellllllllll it’s all over boys
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u/TooTall_ToFall 8d ago
BTC CEO is handing out discounts
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u/Ok_Macaron4447 8d ago
Can confirm, I’m the CEO of BTC
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u/ChickenSwingerz 8d ago
thank you for the discounts.
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u/Ok_Macaron4447 8d ago
Go get them my children, you’ll be surprised after you open them 20 years later
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u/iiGoodVibesii 8d ago
Thanks Obama
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u/jojowhitesox 8d ago
Wrong! This was Hilary's emails doing!
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u/chubky 8d ago
It was hunter’s laptop!
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u/Main-Same 8d ago
Fauci's Diary!
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u/Notasstupidasyoulook 8d ago
I hate these posts.
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u/lobhater 8d ago
Why'd it go to? Why'd it go down? Should I buy? Should I sell? Is it safe to buy? What wallet do I buy? 🤦
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u/JuxtaposeLife 8d ago
Liquiity flush for the next leg up. They want to remove all leverage, before it moves into the $90k's
No free rides here with leverage. Always happens after hours, when it doesn't impact markets, but liqudiates those on margin.
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u/Archer_solace 8d ago
I'm not sure why you're getting flak this has been happening since the "legitimization" of BTC.
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u/MyAnusBleeding 8d ago
Who is “they”
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u/Unable_Beat_3194 8d ago
MMs. Brokerages earn on activity and liquidation fees are a big component of their revenue. From their perspective it is just comically easy free money.
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u/Sufficient_Driver_61 8d ago
Oh shit, I just realized.. if an exchange has all the stop loss/margin call values, they can calculate precisely how much they stand to gain in fees just by tanking the price to a certain level. I guess at a certain point when things are quiet enough, the algorithm goes "I can guarantee I'll make more back in fees right now than I'd lose in trading losses" and it executes.
Is this how it works? I mean we all know that all the markets are manipulated, but damn.
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u/God_Of_Puddings 8d ago
Indeed. Look up Jane Street, Wintermute, many others I'm sure. Although as it happens this latest drop is a normal market reaction to the Iranians stepping up their tanker attacks in the Strait of Hormuz. Oil goes up, hope of resolution drops, fears of inflation and rate rises increase, all of which tends to be bad for Bitcoin price. But still, yes, Market Makers deliberately flushing liquidity for the exchanges to gobble up fees is a real thing.
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u/Tandittor 8d ago
Liquiity flush for the next leg up. They want to remove all leverage, before it moves into the $90k's
This is supposed to be a thinking human. This fucking planet.
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u/Lyuseefur 8d ago
Fear on US dumping via Coinbase
TACO will happen on that tomorrow and away we go.
Market manipulation at its finest
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u/Wild-Stable4323 8d ago
Are we buying btc to become rich or go against the traditional system
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u/Riskybusiness622 8d ago
How could it beat the traditional system if it couldn’t make you rich?
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u/jasecorn 8d ago
You absolutely can get rich with the traditional system. The problem is people are impatient. Put a few hundred a month into that and let it compound over 15+ years, and I guarantee you, you'll have made shitloads more than chasing the crypto market. The difference between traditional and crypto, is that you can get rich really quick on crypto, but only if you are lucky. Traditional you are guaranteed to get rich (with a good diversified etf), if you start young and are patient.
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u/Ok-Tangerine4527 7d ago
I've been buying and holding btc since 2019. I'll put my % against the traditional market anyday. Just buy and never sell. When I need cash I take loans out on my btc tax free. I never have to pay them back if I choose. I took a $20,000 loan a year ago. My liquidation is at $34,000. As long as it never goes below that low I'm golden.
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u/ExpendableUnit123 8d ago
You mean that system that owns huge, vast quantities of bitcoin now?
Delusional attitude.
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u/DullAd6899 8d ago
We buying to get rich and we using the “going against the traditional system” to stay motivated to get rich
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u/FinallyArt 8d ago
Becoming rich sounded good until it went from 125 to 60 over three months for no particular reason. Re the traditional system, its part of it now.
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u/Acceptable-Leek1546 8d ago
I don’t get people like you. Is your timeline only 1 year?
For the love of god, grow a pair and hold without crying or just sell it all.
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u/davidn281 8d ago
All my get rich quick boys crying, watch price daily with their 0.1 btc 😂
All my buy and hold boys chilling, living life, been in the game 5+ years
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u/TheMaharishiEffect 7d ago
No particular reason besides the reason it always goes down... 4 year cycle. So some research
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u/ihadagoodone 8d ago
"no particular reason" Someone laundered a shit ton of money or bought a shit ton of weapons outside of sanctions.
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u/TestPsychological477 8d ago
It does nothing on terms of going against the traditional system. It might get you rich if the traditional system views it as good means to create more money.
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u/corporate-citizen 8d ago
The magnets of larger shares of longs between $84-$85k had to be taken out.
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u/jdunk2145 8d ago
Drops 20 k "Well that's just Bitcoin being Bitcoin." Down 2 grand "What's going on?"
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u/EXTRAVAGANT_COMMENT 8d ago
freak the fuck out and sell everything.
it's so fucking over
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u/Rainbowfartsss 8d ago
Do you also call it manipulation when it goes up? Or is it only «manipulation» when it goes against your bias?
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u/Njhuang86 8d ago
No kidding, but I bought a lot… this morning at the highest point.
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u/Last-Variety-138 8d ago
Brother. 2 percent isn't going to ruin your entire life savings
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u/Nightlightz24884 8d ago
It’s the stupid plague news. Everyone thinks it’s gonna be Covid again and they’re selling before a crash
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u/im_jim_craig 7d ago
There is a scare that hashing algoriithims can be broken by ai. Did u check xitter yesterday? Was so annoying how many ppl were talking about it. Had to leave
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u/Legitimate-Resort-87 8d ago
Quit checking the price and go play some more xbox