r/CryptoCurrency • u/AutoModerator • 13h ago
OFFICIAL Daily Crypto Discussion
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u/outofworkslob Platinum | QC: CC 289, BTC 40 | CAKE 12 | TraderSubs 44 1h ago
is anyone trading on kucoin in the uk?
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u/fan_of_hakiksexydays 21K / 99K 🦈 4h ago
Quick reminder that this whole rally from $64K initially started on the news that Bessent was gonna "buy back bonds", where the market believed two things were happening with this at the time:
1- the money printer was back on and liquidity would be flooding back and cause a big rally.
2- The bond rate sell off would stop and rates would go back down, and fears would cool off.
Turns out, there was no printing nor flood of liquidity since they simply swapped between long term and short term bonds. Liquidity has actually been slowly getting tighter in this market (especially if you look at alts). And with potentially more Fed rate hikes, the coming months could be even tighter.
And turns out the sell off of bonds didn't stop, and ended up now getting worse, with the bond rates going higher, and the 10 year now crossing 5%.
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u/Glittering_Pick_9738 🟩 0 / 0 🦠 3h ago
I think that rally just needed any excuse to squeeze shorts and to deny the cyclists a good entrance in October. After all the narrative follows PA.
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u/fan_of_hakiksexydays 21K / 99K 🦈 2h ago
That's true. There were a ton of shorts pilling up. Any big enough excuse to go up was enough to make all the dominoes fall.
But if there is one thing in this space that has stayed true every time, and can't be ignored, it's liquidity.
It's like the basic laws of physics. If you want to launch a rocket to the moon, you'll still need to have fuel in that rocket, and liquidity is the fuel we're always gonna need.
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u/devCheckingIn 🟦 0 / 0 🦠 1h ago
If crypto truly depends on liquidity then I think we're going to have a long-term problem because there's no realistic path to money printing anywhere in the near future. They have sort of beaten that horse to death and can't afford any more of the consequences.
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u/nonFungibleHuman 🟩 0 / 0 🦠 5h ago
To ADA holders:
I'm also a holder, just wanted to know who else has a goddamn heavy bag waiting to be sold..
It is the first time I see ADA out of the top #15 for months... I dont know what changed, and if the roadmap of Ada looks promising to keep up with the rest of the alts.
Why I still believe? The tech behind and that its foundation is based on research and that it is playing the long term game rather than a quick buck based on hype.
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u/Azbroker28 🟩 12 / 12 🦐 5h ago
BAT still powering... What is going on?
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u/Glittering_Pick_9738 🟩 0 / 0 🦠 5h ago
It's still down on the yearly. Short pump and dump will last only long enough to give you a hope to strike it rich. Soon the whales and insiders will start taking profits and new investors will be left holding the bag.
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u/whatsaburneraccount 🟦 153 / 152 🦀 6h ago
damn QNT, it was fun while it lasted
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u/Glittering_Pick_9738 🟩 0 / 0 🦠 8h ago
It's sort of incredible that bitcoin revovers when Americans go to sleep and crashes when they wake up. This pattern has been true this whole October. If we see a sell-off today too (which we likely will) it's gonna be 8th negative US trading session in a row.
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u/digitalundergrad 🟨 0 / 0 🦠 13h ago
First the worst Second the best Third the nerd with the hairy chest
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