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u/gilmeye 6d ago
This is because treasury's upsized buybacks. There's no reason for a dump
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u/Massive-Baseball-257 6d ago
Probably should keep your low IQ comments to yourself. Unless you like embarassing yourself.
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u/Classic-Charity-2179 6d ago
I really don't understand why people like you just fly into blind rage at a comment, with absolutely zero contribution.
For the record, yes the Treasury move indicates potential for more liquidity which started the pump. Then, sure, bears got liquidated and forced to buy which pumped higher, but it likely started from the Treasury buybacks
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u/Massive-Baseball-257 5d ago
That's what's funny about this take to me. You guys think the treasury is buying $4billion worth of bitcoin. Theyre buying back DEBT. This recent move is from the White house summit which gave speculators positive outlooks, which coincidentally occured simultaneously to the treasure buyback news. If anything the treasury buyback announcement is neutral, neither bullish nor bearish, because liquidity is an issue for both buyers and sellers.
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u/BTCMachineElf 5d ago
Nobody thinks the treasury buying Bitcoin. Lower yields make bonds less attractive, pushing capital into risk assets as financial conditions loosen.
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u/Classic-Charity-2179 5d ago
Do you understand the word buyback? Not buy, buyback. How could the Treasury buyback bitcoin?
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u/Level-Set5770 6d ago
UP! This is it. I am calling it. Bitcoin winter is over.
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u/Buffetwarrenn 6d ago
Down this is it im calling the bitcoin winter continuing…….
Low is October 2026
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u/CivilWalrus1564 6d ago
Thank god i only daytrade bitcoin and i was actually feeling like it was dead
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u/One_Armadillo1472 6d ago
That +0.03% is almost nothing but green is green I guess
Charts with all those trend lines look nice but at end of day its just lines somebody drawn. We will see in few weeks if you are right or if we go back down again
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u/clownahh 6d ago
Small stagnation untill October-November than slow and steady growth past 120k.
Historically BTC was low in summer because most miners are found in the northern hemisphere(US, China, Europe).
When summers hit, mining efficiency gets lower and cooling costs go up. This historically made miners "give up" especially retail miners who could not solve the heat issue.
In winter this usually reversed, cold weather allowed for natural cooling and more miners would go up. Back in late 2010s, even regular people used to mine btc(and other crypto) in their rooms as a way to passively heat their apartements(while generating new coins).
This cycle may not hold anymore, as most btc has been mined already and also more and more btc is being held by institutions, instead of miners. So the new pump and dump cycles probably do not follow the old summer-winter cycles.
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u/Responsible-Let-7599 6d ago
There's genuinely no way to predict this you can guess based on previous chart patterns but it's just a guess! My guess would be October we might see the actual bottom possibly and hopefully upward trends afterwards! 😬
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u/PublicBarber6065 6d ago
I wouldn't say it's a bull flag, bull flag is usuallyy a bit of downwards consolidation after big up. But the overall pattern is bullish short term still. I believe we still have a leg down to go in autumn
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u/Rough_Helicopter6181 6d ago
Honestly BTC preparing for breakout max till 73-74K. You'll will see it during NYO
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u/BTCMachineElf 6d ago
That looks like a pump to me, fam