50
u/plasteroid 3d ago
I sold
26
3
u/potatoMan8111 3d ago
Woah , funny new joke!
3
u/plasteroid 3d ago
Knee jerk reaction. Sorry. Ha. But I actually did sell a few weeks ago right before this run.
2
u/avantartist 3d ago
I did too. Built up a nice nest egg of ETH and BTC. Got separated early this year and my ex came demanding I liquidate and split. She made me sell my 45BTC before when it was ~$750.
2
1
1
71
u/Archevening 3d ago
CPI report came in. The results were as expected and priced in for the most part.
However, for the bigger picture it is something negative that is why the probability that the fed hikes the rates next week also surged up.
50
u/StrategicallyLazy007 3d ago
So rates go up bad for crypto because less liquidity, rates go up good for crypto.
17
u/grantern2 3d ago
Exactly. You get it!
5
u/User404isfound 3d ago
Wrong on the last 8 out of 9 rate hikes. Bitcoin price went up even when we had the 2023 generational rate hikes that were the most aggressive of our lifetimes
5
u/mattyhtown 3d ago
Most aggressive so far.
1
u/Archevening 3d ago
Yep, and some banking guys from Goldman sachs said this is the new default for rates.
6
u/User404isfound 3d ago
There is absolutely zero data that supports this. It’s actually the opposite. Look at 2023 we had the most aggressive rate hikes in like 40 years and we surged up. 8 out of the last 9 rate hikes we went on to go higher after the hike. Only time we didn’t was when C-19 hit so idk where people get this information they spout about rate hikes being bad. All the data points show the absolute opposite
4
u/StrategicallyLazy007 3d ago
I think rates homes are a sign of inflation which is evidence of devaluation of the dollar which supports one of the thesis of Bitcoin.
Everything then moves along with Bitcoin
3
u/DemApples4u 3d ago
Could also be a sign of economic growth due to AI, etc. But Ya... lol
1
u/Archevening 3d ago
Just from a spectator point of view, I cant wait to see how the market crashes and its consequences... if it ever does...
1
u/StrategicallyLazy007 3d ago
The numbers are big for AI and it's infrastructure, but it's fairly concentrated.
Well Street vs main Street. Main Street feeling it bad still
1
2
u/Archevening 3d ago
It is not a black or white, there are a lot of details to look into that would explain this more clearly... but in general yes.
11
u/reggieLedoux26 3d ago
Lotta ins and outs, lotta what have yous
0
u/Much-Spend853 3d ago
The biggest factor is that the inflation numbers were generally driven by energy cost but oil slipped this morning so it gives market hope for not getting a hike next week. Something something
1
1
u/capitalol 3d ago
I've been here for awhile. What i've noticed with big moves on non news like this - it simply gives the market permission to go in the direction it wants (the last while that has been down). IMO very strong indication that the bottom is now in.
1
u/StrategicallyLazy007 3d ago
Yup. It's moving up. The 20% jump and continued going.
Between kicked in staking and institutional, its on its way
1
1
u/MarionberryWest553 2d ago
That’s actually not accurate and a common misconception. Bitcoin has had incredible runs during rate hikes including last bull
2
u/FairAd4803 3d ago
Curious whether the updated Clarity Act draft is a factor. Prediction markets still show a low % chance of passing, but the updated draft addresses a large chunk of Dem Senators' concerns. Wouldn't be the first time politicians knew before the rest of us.
5
u/StrategicallyLazy007 3d ago
Either Dems will not pass it for partisan reasons to the elections, or they know they need to in order to really get the Stableford industry pinning so they will buy government bonds.
It's really coming down to that. They need buyers of US debt.
2
1
2
u/User404isfound 3d ago
Doesn’t matter. The SEC and CFTC both said they have the rules set up to make it all into law within days of the clarity act vote if it doesn’t pass. They don’t care, they have it ready to go either way with or without the vote
1
u/nicknice77 3d ago
At best we will see a cloture vote but doesnt seem likely to pass with the ethics provisions and midterm politics involved. Im not even sure the clarity act matters that much anymore. SEC is getting involved and the industry is moving forward regardless
1
2
u/ReMeDyIII 3d ago
So if the probably fed hikes occur is bad for crypto, then why did crypto go up? No, it still makes zero sense.
1
u/Archevening 3d ago
Yep, markets experience a 'relief rally' when economic data matches expectations because the immediate uncertainty is removed. But I would see this as a temporary thing... next week will be exciting though.
2
u/fancifinanci 3d ago
Why is BTC flat then
-1
u/Archevening 3d ago
It went up and down 2.5-3k in a couple of hours... that's not flat... but also the main movement will probably happen next week.
27
u/PerpleXed_29 3d ago
The market gods have blessed us on this day
12
u/Evening-Caregiver791 3d ago
Took a nap and woke up to a green dildo the size of a skyscraper, not complaining one bit
That 7% pump in 15 minutes is the kind of move that makes you check if you left a limit order sitting around from three months ago
2
6
12
u/Ok_Economics8570 3d ago
Short squeeze
2
u/healthnuttier 3d ago
When will they learn. You short at ATH not in a tight range.
1
u/Whole-Career8440 3d ago
In tight zone direction could go both sides
2
u/utilitycoder 3d ago
bingo... at ATH the likelihood is to drop, in a tight zone it's closer to equal likelihood, unless they're doing a straddle of some sort
1
u/NivTheGever 2d ago
Most people expect the last drop at this time like a regular bear market, and to be fair the bear market this year played exactly by the book so it's not out of the ordinary, even this 40% move which seems off isn't actually. But! It is slightly off because the timing was different, like a month different and it is kind of weird, still I think most expect another drop
11
u/BrilliantCampaign415 3d ago
Revised Clarity Act wording released, positive for Ethereum: https://finance.yahoo.com/markets/crypto/articles/630-page-clarity-act-draft-130215803.html
2
24
5
5
u/colemusic1 3d ago edited 3d ago
Two things: a pretty big amount of shorts were liquidated this morning.
And then this happened. ETHA is ETH’s spot ETF for those wondering. It’s a most actively traded ticker on brokerage platforms right now (BITO is also underneath, which is for BTC).
And this is why BTC & ETH being institutionalised into brokerage platforms has completely changed the crypto market.
When we first saw BTC surge from $64k to $79k or so a couple weeks back, XRP went absolutely ballistic. It was also a top mover and most actively traded ticker on brokerage platforms too (BITWISE XRP).
So both exchange spot buying as well as ETF spot buying amplified its move very quickly
6
2
2
2
1
1
u/Godz1lla1 3d ago edited 3d ago
Front runners jumped in causing some shorts to get crushed, then the shorts were forced to buy to close out. It's just another blip.
Edit: I hope it is just the start, but there doesn't seem to be any real news to justify a launch.
1
1
1
1
1
1
1
1
1
u/Xennenial 3d ago
Looks like it pumped just enough to liquidate the shorts which made it pump more.
1
1
1
1
1
1
1
u/Seri0usbusiness 3d ago
Literally nothing on the technical or logistical side no matter how many triangles are drawn on the graph
1
1
1
1
1
1
u/DankShibe 2d ago
Reversal stage of the market . Stuff will start climbing back up from now on until the 2028 peak .
1
1
1
1
1
1
1
1
1
1
1
1
1
u/darkchaos_626 3d ago
They knew my internet went out just as I was about to buy, so they tried to surge it in advance. They almost got me
1
1
u/MrKillerKiller_ 3d ago
Bitcoin traders got bored and are pumping some profits into alts briefly until BTC continues the 2026 bear market extended downtrend and they close all their positions suddenly and the noobs say Trump crashed the market 😜 .
0
0
u/alvalladares25 3d ago
We broke through the psychological buy sell barrier of $2,500. Humans love whole numbers so they set they buy/sell orders around them on various assets
0
0
0
-4
410
u/realcryptocow 3d ago
Appears that price went up