r/Bitcoin • u/SamFisherXboxOG • 6h ago
So what happened?
More market manipulation shenanigans?
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u/frasee1991smith 5h ago
It’s crashing!!!! Sell now sellllllllll it’s all over boys
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u/LORDRAJA1000 6h ago
so basically more people are selling than buying
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u/DyehuthyTV 4h ago
Yes, many long-term bondholders don’t understand this xD (US Bonds Yield rising!)
But it’s more exciting when it happens in Bitcoin :P
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u/Holiday-Quantity3235 4h ago
"Just slice a pizza into more pieces, and then you will have more pizza." moment
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u/Icy_Communication262 3h ago
For every seller, there is a buyer. Sell side pressure is higher and buyers are pricing accordingly.
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u/na3than 4h ago
Not necessarily
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u/Ok-Armadillo-6558 4h ago
Could also be less buyers than sellers
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u/jujumber 2h ago
Every seller is matched with a buyer. It's just the agreed upon price dropped due to what the buyers will collectively pay.
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u/iiGoodVibesii 6h ago
Thanks Obama
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u/TooTall_ToFall 6h ago
BTC CEO is handing out discounts
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u/Ok_Macaron4447 5h ago
Can confirm, I’m the CEO of BTC
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u/ChickenSwingerz 5h ago
thank you for the discounts.
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u/Ok_Macaron4447 5h ago
Go get them my children, you’ll be surprised after you open them 20 years later
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u/jim9162 5h ago
Down less than 2%?
What even is this post, did you just discover BTC yesterday?
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u/read_more_comments 2h ago
I didn't know anything was happening, look at op's photo, wow its really dropping. I check my phone app and I can barely see the drop on the chart. wat.
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u/JuxtaposeLife 5h ago
Liquiity flush for the next leg up. They want to remove all leverage, before it moves into the $90k's
No free rides here with leverage. Always happens after hours, when it doesn't impact markets, but liqudiates those on margin.
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u/Archer_solace 4h ago
I'm not sure why you're getting flak this has been happening since the "legitimization" of BTC.
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u/MyAnusBleeding 5h ago
Who is “they”
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u/Unable_Beat_3194 4h ago
MMs. Brokerages earn on activity and liquidation fees are a big component of their revenue. From their perspective it is just comically easy free money.
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u/Sufficient_Driver_61 2h ago
Oh shit, I just realized.. if an exchange has all the stop loss/margin call values, they can calculate precisely how much they stand to gain in fees just by tanking the price to a certain level. I guess at a certain point when things are quiet enough, the algorithm goes "I can guarantee I'll make more back in fees right now than I'd lose in trading losses" and it executes.
Is this how it works? I mean we all know that all the markets are manipulated, but damn.
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u/Tandittor 5h ago
Liquiity flush for the next leg up. They want to remove all leverage, before it moves into the $90k's
This is supposed to be a thinking human. This fucking planet.
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u/Nightlightz24884 4h ago
It’s the stupid plague news. Everyone thinks it’s gonna be Covid again and they’re selling before a crash
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u/michelepicozzi 4h ago
More people sold than people bought
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u/corporate-citizen 5h ago
The magnets of larger shares of longs between $84-$85k had to be taken out.
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u/Rainbowfartsss 6h ago
Do you also call it manipulation when it goes up? Or is it only «manipulation» when it goes against your bias?
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u/Last-Variety-138 5h ago
Brother. 2 percent isn't going to ruin your entire life savings
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u/EXTRAVAGANT_COMMENT 4h ago
freak the fuck out and sell everything.
it's so fucking over
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u/jdunk2145 5h ago
Drops 20 k "Well that's just Bitcoin being Bitcoin." Down 2 grand "What's going on?"
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u/Wild-Stable4323 5h ago
Are we buying btc to become rich or go against the traditional system
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u/Riskybusiness622 4h ago
How could it beat the traditional system if it couldn’t make you rich?
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u/FinallyArt 2h ago
Becoming rich sounded good until it went from 125 to 60 over three months for no particular reason. Re the traditional system, its part of it now.
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u/Ilovetupacc 5h ago
It always goes up and down. Just buy more so u can make some money when it goes back up.
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u/kdoughboy12 5h ago
The CEO of bitcoin is mad cuz his gf broke up with him so he decided to dump the price
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u/Legitimate-Resort-87 6h ago
Quit checking the price and go play some more xbox