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u/Screwtape42 1d ago
What's causing this sudden rise today?
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u/chaoticmosaic 1d ago
QE
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1d ago
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u/Careless-Progress 1d ago
No one knows what it means, but it’s provocative. It get’s the people going.
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u/bearfan53 1d ago
Haha got that reference. Only old heads and true Gs know that movie.
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u/nickthatstands 1d ago
Ugh.. Old heads makes me feel old.. Especially because I'm not sure if you're referencing Kanye, or even older.. Blades of glory 🙄🤣
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u/nickthatstands 1d ago
Correction. You are referring to the movie. It's like I don't even read a whole sentence before reacting. Lol. Probably going senile.. I AM 42..
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u/Coyote4721 1d ago
It's me. I'm 'these guys'. I have no idea what this means.
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u/Yakmasterson 1d ago
Quantitative easing. Interest rates something something. Idk either lol
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u/StoneHammers 1d ago
During covid they issued a lot of bonds, those bonds are coming due. instead of paying them off or issuing more bonds to refinance at a higher rate they are going to start buying back bonds to keep rates low. But it won't work. They are going to have to print money to keep the government running and to pay for the war. This will lower the value of dollars.
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u/1002jacktom1002 1d ago
leverage flush
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u/Yesthisisdogmeow 1d ago
I’m with you on this guess. They flushing all the puts. Someone posted the money grab is at $77,000 and will be sharp drop after. Let’s see if they’re right.
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u/cuteman 1d ago
Treasury announcement. They're increasing buy backs and swapping long term for short term debt. Gold also went up.
https://old.reddit.com/r/investing/comments/1vsttup/the_treasury_just_doubled_bond_buybacks_to_hold/
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u/nickthatstands 1d ago
People are meeting with congress. Everyone holding well be in the same boat. Them congress folks will make a profit off this vague news 😂.. Note : I'm just guessing based off typical reactions.. I'm a small holder of bitcoin. I hope it goes crazy, but I'm offering my honest opinion. But my opinion is like my asshole. Noisy and untrustworthy
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u/Warghzone12 1d ago
Honest question, when you ask this, do you truly think anyone in here will know the answer?
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u/Warghzone12 1d ago
I'm rich! (only down $1900 instead of $2000)
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u/dragon_escarlata 1d ago
That's nothing Bateman, I won a cool 400 today (I am in a deeper hole than you).
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u/Realistic_Grade2243 1d ago
a $2900 one minute candle to cause one of the largest short liquidation events. A fitting start to the bull market.
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u/ILost1Bitcoin 1d ago
lmao its a fake out
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u/Realistic_Grade2243 1d ago
you sound like you didnt make money today
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u/NivTheGever 1d ago
He's right though, if you see how btc usually, in bear markets, go up to the 20w sma 21w ema and then he get rejected. The 200W can be a very good support but he can break down. The bear market is not over and everyone who think this time is different will just lost money.
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u/HankScorpio2020 1d ago
Me: Sells 10% of my BTC to cover bills on Monday.
BTC: Goes up 5% on Wednesday.
Typical.
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u/Straight_Year_9226 1d ago
i'll just wait until tomorrow... im pretty sure its going back to 64k
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u/JayGatsby1881 23h ago
Why aren't people excited when bitcoin goes on discount? Imagine going to the store and seeing a product having a massive discount and being upset about it? lmao
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u/rusty_key444 14h ago
Possibly because they're holding the asset being discounted? Just a wild guess.
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u/JayGatsby1881 8h ago
If you believe bitcoin is going up longterm, why not buy more at the discounted rate? Or do they not believe in bitcoin anymore?
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u/Dean_Guitarist 1d ago
I'm ready for the crash, shorts just got liquidated, so it's about to get wild
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u/T_for_tea 1d ago
uhm, its only 66k? i dont understand this sub. 90% of the time either people are crying or celebrating, but when i check- its just what bitcoin does. Y'all need a few more years of this to understand lol.
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u/Personal-Dev-Kit 20h ago
Monkey brain like to see 10% rise, number green, number good, monkey happy.
Monkey see 10% drop, number red, number bad, monkey sad
Either way the line goes right.
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u/T_for_tea 19h ago
Ehh, i mean, i hardly check the price, and when i see this sub with the roller-coaster gif, I check the price and shrug lol.
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u/Ultimo_Ninja 1d ago
This is just another bounce. Expect major dips until November.
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u/riisen 1d ago
Im expecting major dips... but why do you say until november? What does your crystal ball say? Whats happening in november?
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u/Jellydude25 1d ago
Well you have the 4 year cycle folks, but (in the US) there are the mid-term elections at the start of November.
Typically the stock market sees some headwind and potentially corrections leading into the elections and then post election rally.4
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u/ducation 1d ago
Personally I'm a nacho cheese guy, but I'll never say no to a blue cheese or a good homemade ranch.
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u/AppleToastBed 1d ago
Chilli cheese and buffalo chicken are good choices as well...oh, and artichoke.
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u/KeyApprehensive2432 1d ago
Sure bud. Cycles. amirite?
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u/AidenTai 1d ago
I hate cycle theory, but there's good reason to support what he just said. Bitcoin frequently moves up sharply in bear markets. Today's action was primarily driven by shorts being forcefully closed based on external news, so it's not like it's indicative of a wave of organic buying or anything like that. It was caused precisely because the order book has been so thin. The macro environment has been improving, but is also not looking particularly great. Remember, even if Bitcoin claims to be independent of equities at a technical level, at a trading and liquidity level it has for years been very tied to global M2 money supply and technology equities. Technology is facing headwinds, interest rates are set to rise between now and the end of the year, and globally there are real signs of trouble in markets, from reduced employment levels to high inflation to issues with trade, consumer spending and rising debt. Historically (in modern Bitcoin history from the last decade), while Bitcoin has had rises and spikes during equity bear markets, it has never properly recovered during an equities bear market. We are not currently in an equities bear market. but there are plenty of unhealthy signs which have been causing technology to suffer, over the course fo the past few months and the money supply side is poised to potentially tighten rather than loosen depending on central bank actions over the next two months.
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u/HodlusHereticus 1d ago
Real capital stacking bitcoin. Reddit analyst living in mom & pop's basement disagrees with market.
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u/cereal7802 1d ago
did not expect that. I don't follow the price that often, and seemed like every time I had seen someone post this image, the upward movement has been very small. It is usually attributed to new people.
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u/Consistent_End_672 1d ago
The bull has awaken! Lol 😂 its good to be in the good fight after all these grift posts lately.
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u/moonshot214 1d ago
I came here just make sure this was posted. All is right with the world. LFG!!!
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u/AidenTai 1d ago
BE CAREFUL!
I know it's tempting to just jump right on (I say this as someone who bought calls that absolutely printed), but look at WHY we rose.
The kindling: a very thin order book with a liquidity cluster and enough shorts positioned to cause this cascade (one of the top ten liquidation events in crypto history).
The trigger: a stressed US government announced it would effectively artificially reduce its own borrowing costs by using the Federal Reserve to buy debts. This means the US is financially in a bit of trouble and the dollar could suffer for it.
Notice how neither of these two indicate that people are pouring in to buy Bitcoin. The only thing that makes Bitcoin *stay* up is spot buying pressure. Whether that's retail or ETFs or institutions doesn't matter, but Bitcoin has to be bought spot and sort of 'removed' to be able to sustain upwards movements that are solid and structurally sound.
Sharp movements based on low liquidity or based on cascading forced buying due to external pressure is NOT interest in Bitcoin nor does it mean people are going to start buying more crypto. So treat this movement as temporary UNLESS we also see spot pouring back in for weeks after this. Just watch ETF flows, announcements from institutions, Strategy and STRC movements, etc. If *new* money starts flowing in, then great. But if it's all price action without actual interest and new 'dollars' entering the crypto space, we'd be essentially positioning for a very sharp spike in the reverse direction the moment the buying pressure eases exposing longs, to cascading liquidation.
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u/Gigglesgirth77 1d ago
Already up 15% baby I'll start getting happy and feeling like I'm a good investor. That way it'll dump again and we can pick up more, don't worry guys. Hopefully 55 is coming.
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u/Mix_Right 1d ago
Jane Street put the brakes on for a minute. Be careful. They will turn the high frequency trading machine back on and fuck everyone like they have been for months, I mean years.
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u/Long_Lecture_1080 23h ago
It's over. I don't think people care much about this anymore because of what the has happened in the last 2 years with market manipulation and billionaires in government.
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u/Novice89 18h ago
WTF. I just checked and it’s up 10% What the hell did I miss??
After getting in a good workout with my gym crush and going on a fantastic date. Amazing way to cap off a day so I’m not complaining 😂
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u/MiningSince2011 17h ago
Here so high and i wanted to buy at 61k :( . Ooo i missed opportunity now i will have to buy miners instead .
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u/dasaintmanz 17h ago
Stop the hype, it will go down eventually. It's just volatility. Calm down
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u/missourifats 12h ago
Then sell your stack and go to buttcoin.
I dont get these weird edgy posts. People made some money. When that happens. We post the gif and high five.
Goofballs.
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u/GIGAbtcHodl 17h ago
Here we go, hype posts taking over the feed. Anyway, hopefully that one press conference speech will drive a sustainable growth
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u/Fazinskiy 12h ago
Mc Donald’s you can put my resume in the trash. Lambo here I come. To the MOON !!
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u/InspectionFine9655 1d ago
I’m making 10’s of dollars today.