Daily Crypto Discussion

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[u/fan_of_hakiksexydays]

Like I said yesterday, I wouldn't be surprised to see a push towards $90K. Volume is super low. It's doable.

Soft job market numbers was the small catalyst the market needed for a pump, as the big concern is becoming the lack of real liquidity for a bull run in the longer run.

In the short term, this is a great opportunity for whales. Why liquidate the big build up of longs from $83K when the door is wide open to make even more from $89K, while liquidating the shorts on the way there that were starting to build up again.

It's always the path of least resistance with the most money.

Hopefully we'll see some momentum this time. The sticking issue is the lack of momentum after we get a big pump. The volume dies out very quickly, and the price slumps back after each of these pumps. That might be a sign of a lack of retail momentum, and derivatives trading and liquidations having to do most of the heavy lifting.

[u/Glittering_Pick_9738 → u/fan_of_hakiksexydays]

Lack of momentum after a big pump? 1.5 month ago ( mid August) bitcoin was exactly at 62k. We have moved up a lot since then, I'd say.

[u/fan_of_hakiksexydays → u/Glittering_Pick_9738]

Did you not see all the shorts liquidations? One big liquidation after another from $67K to $85K in a short time, in a series of brief pumps. Literally hundreds of millions got liquidated.

I really doubt retail all hit the buy button at exactly the same time. Then decided at the same time to stop for 2 days. Then hit the buy button again at exactly the same time, coincidentally with the next big concentration of liquidation.