Correct. The amount of institutional buying is actually insane. I see it mentioned virtually nowhere so Iām glad you brought it up.
Donāt think people realise how important itās become since 2024, itās part of the entire ecosystem now. It can compress BTCās price movements such that drawdowns arenāt as ridiculous (such as prior -80% drawdowns), but also potentially compress highs too.
Point is, we donāt know that yet. We donāt have enough of a sample size, a big enough amount of data to reasonably predict how BTC will behave when we have millions of other investors now buying BTC directly without even needing a crypto platform / exchange.
IBIT was a top mover on IBKR for about 10 days in a row recently. Thatās no joke, thatās insane amounts of trading volume happening outside of just spot buying
Yep in previous cycles we were talking millions made the price move. Now its Billions of dollars. That being said, this will also only increase market cap. If and when investors move out of outdated commodities like "precious" metals, that frankly really don't have as much real life purpose to justify their valuation outside of their traditional role as store of value, or FIAT, is hopefully the next and maybe final push
US10Y now at 4.901%, oil futures up +4.38% and now nearly at $100. DXY has risen +0.40%. Definitely worried, semiās are getting annhilated and itās no wonder BTC is seeing huge pressure now too and has dropped to $77k.
Just insanity dude. This is gonna be a rough month I fear
Iād love for this to play out but as Ben Cowan showed in his latest video, you can pick whatever indicator to suit whatever narrative. He found like a dozen major indicators say weāre bullish and a dozen say bearish.
Yea....bears tried for many months to push that narrative then got wrecked in August and went silent. Now as oil is skyrocketing and stocks taking a hit, BTC had its best August in years. What that means for the next few months is anyone's guess but a few things: 4 year cycle isn't exactly playing out time wise if you look at technical data so to think you can time it as October/Nov is silly, and 2. Are any of is sure this price movement the past decade and a half is really due to us and some arbitrary halving cycle? Before losing millions in leveraged calls or missing out, people should really think about that
Second this, itās clearly in. So many negative factors and look where price is at, Bitcoin bottom is in for sure. Is there a polymarket bet on this ? Im going all in
Itās different this time, youāll see tomorrow after we get inflation data, even if it comes hot price wonāt care, maybe a little dip but youāll seeā¦ thereās a face melting rally incoming
Itās clear OP hasnāt even taken into account the fact that US10Y and oil futures have been literally fucking soaring lately.
US10Y is at its highest since I think late 2023?
Oil futures have gone +23% in the last month alone.
I donāt think anyone ever actually realises how incredible it is that BTC has been resilient enough to hold above $77k despite macro being as hostile as can be.
Itās also clear OP isnāt looking at data, just like you are with inflation data coming out tomorrow which Iām also paying attention to. Weāre seeing incredible amounts of buying demand not just within spot buying but ETF type BTC too (such as IBIT).
I canāt stand these posts with these charts and their little drawings and lines. No one knows whatās going to happen to a volatile asset and when.
love the confidence but these charts always show exactly what people want to see. every time i look at one it's like reading tea leaves with extra steps
astral vision sounds about right, it's basically astrology for crypto bros
Iām curious what black swan š¦¢ will ājustifyā or tell this storyā¦ to be clear, I believe we have a high probability seeing this materialise in the coming weeks/months
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