BTC

Sea-Push5285

Fortunately, there are plenty of people who are still sidelined or got liquidated by shorting near the cycle bottom. You can see it in market sentiment and the sheer amount of angry comments whenever prices go up across virtually every crypto subreddit and on X. If BTC drops back to the $60Ks, these people will almost certainly jump back in. At that point, it would take a lot more money to shake BTC down to $30K just to flush these new buyers out. Instead, BTC could simply have a shallow correction before taking off again, triggering massive FOMO. Eventually, these same people will end up buying at $100K because they simply can't stand the psychological pain of being left behind. The Binance cartel isn't going to let BTC dump to $40K and then pump to $180K in 2029, making everyone rich along the way.

Cauliflower-Informal

BTC down by two %. Crypto people just shrug & buy the dip

Sea-Push5285

The market could continue chopping sideways for a few more weeks, but expecting BTC to make a new low, or even dump all the way down to $60,000, seems quite unlikely. Have you forgotten how much worse sentiment and FUD were back in June compared to now? MSTR was supposedly collapsing in a death spiral, ETFs were seeing continuous outflows for weeks, longs were getting liquidated almost every single day, and pretty much everyone was convinced BTC would crash below $55K. Yet BTC still managed to consolidate around $60K for two months before suddenly pumping to $80K. More importantly, the market structure has already shifted on the weekly timeframe, looking very similar to what we saw in 2023 and 2019. There's always FUD during a bull run. All four previous cycles had it.

wallyone123

Lucky for me I’ve been out of BTC since 2020 I guess 🤷🏼‍♂️. You know you can gamble on the other 50% of crypto?

Sea-Push5285

Normally, whenever BTC pumps or dumps, it enters a sideways consolidation phase afterward. You can look at the chart yourself: these consolidation periods typically last anywhere from 2 months to over half a year. Then BTC makes another major move, either up or down, usually within 1–4 weeks, with each move ranging from 20–40%. This pattern happens in both bull and bear markets. If BTC really did front-run the bottom in both price and time (putting in its bottom at $57,000 in June rather than October), then I think corrections during this bull market should be limited to around 10–15%. Last cycle, corrections were roughly 20% on average (with the exception of the April 2025 tariff crash, which exceeded 30%). I also expect sideways consolidation periods to be significantly shorter, perhaps only 2–3 months each. Honestly, if you look at the bigger picture, the real max pain scenario is watching BTC pump while you're sitting on the sidelines because you cut your losses at $60,000 after listening to everyone predicting $40,000 in October. It gets even worse if you went heavily short, expecting to catch that final $20,000 drop. You can see how psychologically damaging an experience like this can be. It's enough to give people serious PTSD.

manuel_794629

185 BTC, defeated by the oldest exploit in crypto: "Hi, I'm support. What's your key?"

Sea-Push5285

Normally, whenever BTC pumps or dumps, it enters a sideways consolidation phase afterward. You can look at the chart yourself: these consolidation periods typically last anywhere from 2 months to over half a year. Then BTC makes another major move, either up or down, usually within 1–4 weeks, with each move ranging from 20–40%. This pattern happens in both bull and bear markets. If BTC really did front-run the bottom in both price and time (putting in its bottom at $57,000 in June rather than October), then I think corrections during this bear market should be limited to around 10–15%. Last cycle, corrections were roughly 20% on average (with the exception of the April 2025 tariff crash, which exceeded 30%). I also expect sideways consolidation periods to be significantly shorter, perhaps only 2–3 months each. Honestly, if you look at the bigger picture, the real max pain scenario is watching BTC pump while you're sitting on the sidelines because you cut your losses at $60,000 after listening to everyone predicting $40,000 in October. It gets even worse if you went heavily short, expecting to catch that final $20,000 drop. You can see how psychologically damaging an experience like this can be. It's enough to give people serious PTSD.

Sin-City-Sinner

I would hope that the majority of us here would realize that bitcoin was not hacked. Binance was hacked, which is not a cryptocurrency. It is a cryptocurrency exchange amongst other things.. It wasn’t just BTC taken either so that would mean multiple cryptocurrencies were hacked 😂

jesta030

You forgot the /s because that's exactly what happens with classic banks. And I'm not even defending BTC here.

Beatless7

BTC should took a dive and bounce.

ubermensch1001

3-6 months from now is not that far off, man. We are going to set a new all time high well before the 2028 halving. Think about it this way, November of 2022 we had the FTX crash and saw BTC at around 16k. 15 months later it was setting a new all time high in late February/early March of 2024.

Always_working_hardd

I must say I have been DCAing every day into BTC for a year now, and I am impressed with the amount I've accumulated by nibbling away. Every day.

perma_banned2025

BTC is fine

lobhater

Because BTC wasn't hacked. Silly things built on top of the technology were. The bank heist and USD analogy is good

lobhater

Those are just people who have been waiting to buy BTC at 60k and are sad they missed this boat. This affects you in no way what so ever. Unless you want to buy crypto in which case its on sale. This will be old news in a month and a non issue

wipppzi

Thanks for explaining what I already know. Doesn't matter at the end of the day. I'm not this huge crypto fanatic, I just hate U.S Dollar and the FED. Most of my money is held in silver, stocks, and cash (yes ik very counter intuitive from my argument) but like I said before, I live In the U.S and don't have an option to NOT use it. I don't care if the $2500 worth of BTC I have gets hacked because I don't buy speculative assets without knowing it could simply crash to zero without warning. Spread your assets out and invest WHAT YOU'RE WILLING TO LOSE on a speculative asset and pray it goes up. BTC has done me solid and kept me afloat for a while and I simply don't see it going away any time soon. Night bud

Knurlinger

Rely on the encryption (dices and passphrase), not on other people and the BTC are still here ;)

AidenTai

Okay, a spooked market can sell of some, sure. That's not unreasonable, especially if amounts change. But Binance didn't lose as much in the way of stablecoins as it did 'traditional' crypto, meaning if anything it would need to \*buy\* BTC and ETH to return that to its coffers. This would take time, but yeah, if Binance has assets in hard currency and needs to correct imbalances between customer holdings and its assets, it would need to buy up what the customers were holding which is missing. Ergo buy pressure. And 'non of this is federally insured' tells me you're from the US and think this would affect US customers, but this has nothing to do with the US or US customers at all.

777GUNMETALGREY

USDT is a stable coin pegged to the US dollar that is printed and has been uaed to prop up BTC price.

Wombo_Zombo

Crypto is highly speculative and scares easy. It ruins trust in the asset class FTX crash caused a 20%+ drop in BTC and bottomed that cycles bear market.

777GUNMETALGREY

USDT does the same thing to prop up your BTC price, which is in US dollars.

Sea-Push5285

I think the current situation looks quite similar to March 6, 2023, when Binance FUD was also driving the market. If the market structure has already shifted bullish on the weekly timeframe, price might be forming a local bottom. Could that be why the market isn't reacting as strongly this time? Binance allegedly got hacked for $6 billion, yet BTC only dropped around 3%. That's nothing compared to some AI stocks, which dumped more than 10% in a single overnight session.

wipppzi

I buy both, point is, the U.S Dollar is failing, and Id rather not touch it. Unfortunately I live in the U.S and have no option. You're suggesting I pay capital gains on the BTC I sell, to then pay taxes on the silver I buy, with the dollar that devalues everyday. No thanks.

sreaka

If MTGox wasn't hacked, you would've sold when BTC hit $1200

777GUNMETALGREY

Why didnt you just buy silver with your US dollars instead of BTC?

TomOttawa

And why you, people, always compare BTC with US dollar? If it’s so “superior”? lol

PsychologicalBit803

How though? If BTC got hacked how much is that ETF worth?

BulkMcHugeLarge

Worst (reasonable) case the initial amounts reported grow. Spooks market triggering sell off of crypto holdings (new or conservative investors). Binance starts selling holdings to make up customer losses from the back. This drives down BTC and others. This spooks others and fucks with balance sheets. Not 2008 levels but not great. None of this is federally insured l.

Flux1776

I don’t fully get it either. Been roaming all over looking, but I did see Ai as a suspect . Binance got smoked. I saw lots say get your coin off line. Air gapped to an old phone , then pull SIM card. Some Ppl seem spooked , others buying. BTC sympathy dumped i think abt 4k give or take my take so far , I’m novice crypto

Grizly2000

I'm not walking you through a basic of BTC community use google

Fear_Blind83

BTC wasn't affected, only shitcoins and EVM tokens were taken. The exploit was done via a smart contract.

Fear_Blind83

BTC wasn't affected, just shitcoins and EVM tokens were taken. The exploit was done via a smart contract.

AnyStatistician2535

Something like this affects the entire crypto space, unfortunately. For example, Binance has significant reserves in BTC, which they may need to sell to shore up their business now.

Fear_Blind83

BTC wasn't affected, just shitcoins and EVM tokens were taken. The exploit was done via a smart contract.

bitsteiner

BTC developers already use AI to deep review their code. They have the resources to do that, small alts not so much.

omni_wisdumb

I'm bullish too. Difference between bullish and bullshit. Will BTC 10X? Most likely, eventually. Will a bunch of other already established and safe investments 10X in the same-ish timeframe? Most likely as well.

Grizly2000

WTF upside down world dollars upvoted in a BTC sub. Physical custody down voted.

bitsteiner

Or BTC, which can't be controlled by anyone.

CttCJim

Already BTC is down under 77k

CttCJim

BTC price is dropping appropriately

TowlieisCool

$1.7B is frozen stables. Binance has $1B of BTC in their SAFU fund for exactly this kind of situation. Excluding those, which leaves about $4B, Binance still has $55B in their BTC reserve alone.

ensui67

Ftx collapse also marked the bitcoin bottom at around $16k BTC. Are we about to see that here? 🤔

omnicious

Best to just invest in hackers who steal BTC at this point. 

Professional_Run2842

This is one biggest heist of crypto , and crypto fell like %4. Actually I am impressed, expected BTC to fall like %20 .

Most_Raccoon_587

But, this is the biggest hack in the history of BTC. I mean there is that

Sin-City-Sinner

You might be right crypto might not be for you if you cannot tolerate the volatility, but I can tell you with no certainty because nothing is certain when it comes to investing your money and anything, but I can tell you what the upmost conviction that mathematically if you hold on and don’t sell, you will make your family generational wealth and don’t let the pullbacks discourage you just keep DCAIng especially if you’ve been in it for 5 years.. I don’t see how you’ve been in BTC for 5 years and you don’t see the upside, you have to have the mentality of a 3yo to not understand BTC will make your family lots of wealth as long as you don’t do stupid things like trade your BTC using leverage ESPECIALLY if (I KNOW you don’t) you have no experience treating and I also would love to know how you have been in it for five years and haven’t made any money. Yes, it will go up and down, as long as the upsides keep getting bigger and bigger I don’t see what the problem is and just because you held like a good HODLer does, and then it pulled back so you only made money for a period of time“on paper“, my suggestion is if you can’t stand the stagnant time it takes then do some research and find some ways to make passive income off of the BTC that you already own such as staking, etc.… There are a few ways without trying to become a day trader. Just don’t sell low man!!

Phylaras

I agree. Likely to be a slow distribution of BTC and ETH over months. But that doesn't mean Binance will implode.

DrJ0911

Dumping BTC

TechnologyMinute2714

You know market cap doesn't actually mean the actual amount of money inside right? If someone buys 1B worth of BTC right now, spot, BTC's marketcap would probably go up 10 or maybe even 100B, its all "on paper".

MightyWolf39

Wait when FTX collapsed all crypto crashed but when the largest hack happens on the largest crypto exchange BTC goes down 4%

LionRivr

Where the actual F is an actual safe place to store your BTC anymore lol

Pretty-Curve5448

Can they patch the billions already stolen in BTC?

OkVisit2590

I’m selling everything but my bitcoins right now, time to throw everything in tha BTC

marcelorojas56

So do you think BTC is a good investment for the next 5 years?

Successful-Mud-2000

I think the broker part doesnt change much. If your BTC is on Robinhood, Robinhood holds the keys, same as an exchange. If they get hacked or have problems you depend on them. And crypto on Robinhood is not SIPC protected like your stocks Also they own Bitstamp now, so they are in the exchange business too The only way to not worry about exchange hacks is self custody. Robinhood lets you send your BTC to your own wallet. I moved mine to a hardware wallet and only leave a small amount on the exchange for my weekly buys Not your keys not your coins

ssaskciknivek

Let me know when you can pay your taxes in BTC.

tribepride25

Ledger users that followed the rules were not impacted. If you buy a ledger, trezor, cold card, or insert favorite device from Bob’s Discount Hardware Wallets Express, you are handing your BTC directly over to scammers

7hiigh

Mate, 1.45B$ in BTC got stolen. Are you a MAGA? Because only these type of people can be such hypocrites

OkTime7640

there is no desperate rush for Bitcoin coming. That momentum is dead bud. This is pure Gambling addiction and hopium disguised as deep insight. The price of BTC can literally be manipulated with a single Donald Trump tweet as waves of new investors and (ex) long-term investors like myself observed for the last two years. Bitcoin was pitched as digital gold, it is not. It is highly volatile and reacts to geopolitical conflicts more wildly than most stocks have. Most everyday investors STILL cannot explain its function but they certainly can grasp AI stocks, where most of the general public's investment money is now diverting too. Stop trying to trick and convince people to chase a dangling Carrot because you don't want to feel stupid.

El_Peregrine

BTC will never get new investors if this is what it takes to self custody.  Anyone thinking these hacks are bullish for bitcoin are delusional. It will likely do nothing for the next year or two at this rate - confidence in BTC ecosystem is collapsing. Price was in the 70s years ago, a complete waste of two years.

omni_wisdumb

why do all that? At this point just buy gold or stocks. BTC isn't going to be going to parabolically anymore. Not saying don't have any, but the era of trying to throw all your life savings into it thinking it's going to do a 1,000X and make your $10k into $10M is over

Top-Care-8946

True but seems like it's a hard to get that lesson. Usually people who became victims or at least know someone who is victim will start to think but then it's already too late at least to save funds already lost. I never keep my funds on exchange. I just buy for an example from exchange BTC for €30 and then send them directly immediately to my Trezor wallet. I don't stack up assets on exchanges. Yes I know that transaction fees are pretty same for 2 digt as 5 digit amount in fiat currencies to withdraw but I rather pay multiple times than lose all at once. Second option is buy BTC more rarely but in larger amounts but then there exposes a risk that Exchange might freeze transaction or account itself so it like a two-bladed sword-both sides can hurt and cause pain.

loc710

Yup just took a google and found it. All these hacks and never once has it actually been the BTC blockchain. Just things protected by password (besides the cold card thing)

Lucky-Interview-7689

> That is the same for almost any long term investment. Every price depends on demand, but not every value depends only on demand. A stock has earnings, a bond has coupons and principal, and a pension is a legal claim on a payer that can tax. If demand dries up, those still give people a reason to hold. Bitcoin's only support is the next buyer. That difference is why a floor means something different here. > the government will keep pump it using QE money, so that is some kind of guaranteed floor by wealthy funds ... they are all forced to buy it ... they normally don't even have a choice That's a real mechanism for pensions, because a sovereign with a printing press and a legal obligation stands behind the claim. It isn't a mechanism for Bitcoin. Nobody is mandated to buy it, QE buys government bonds and not Bitcoin, and tax money doesn't flow into it. Liquidity can leak into risk assets, which is why JPMorgan's analysts describe BTC as tracking global money supply growth, but that's a discretionary tailwind and not a guaranteed bid. It currently points the wrong way too, since the Fed hiked in September to 3.75–4.00% and flagged more to come. The place where a government bid could create a floor is the US Strategic Bitcoin Reserve. So far it's built from seized coins, with no confirmed open-market purchases and no enacted purchase authority. Not selling isn't the same as buying. A real floor needs an entity with a legal obligation and enough capital to buy every coin offered at that price, for as long as it takes. Even then, defended floors like the Swiss franc's held until the backer decided to stop. And a floor guaranteed by governments or wealthy funds is the very dependency Bitcoin was supposed to remove. > I think you are trying to make a definitely certain call, but if that is so certain, the price would already add a few zeros I'm not calling for zero or claiming certainty. My claim is narrower: nothing guarantees a floor. A price that has held up shows demand is there today. A floor only gets tested when buyers step back, so a price that has never been tested tells you nothing about it. I see Bitcoin as a scam. But its different than most others as there is no single mastermind orchestrating it and maintaining it, more like a hivemind or cult. I can't predict what will happen and when, only evaluate this for what it is and stay the fuck away.

loc710

Sooo no BTC??

Charles005

I mean, every day that passes the probability increases. As a BTC holder and supporter since late 2016, it’s naive to sit here and call people “Doomers”. We edge closer and closer to quantum computing, that’s just fact.

cr0ssthreaded

…aaaand just in before the Binance hack craters BTC prices.

bitusher

> Dont you think that a reorg essentially breaks the fundamentals of Bitcoin? Reorgs are an essential part of how Bitcoin is designed to heal after an attack as written in the original whitepaper. People often cite that Bitcoin is immutable which is has always been false. Bitcoin instead has great transaction finality with the ability to reorg if needed in extreme scenarios. Obviously the threshold would need to be much higher than MtGox were we didn't reorg, but a secret QC threat that was able to move millions of BTC would indeed be that threat >how do we differentiate between a legitimate transaction and a non-legitimate one? We are discussing an extremely unlikely scenario here where someone in secrete had a QC breakthrough and none of it leaked out. The reality is QC simply do not scale well here and if they ever become a threat we will have years of time for fork in new signatures(which are already well tested and developed) and journalists, nocoiners, and altcoin scammers simply are spreading a lot of FUD. So lets assume a worst case scenario where this mysterious mad scientist in secrete very carefully start moving only a few 50 BTC blocks of UTXOs from the first 2 years to enrich themselves and not arise suspicions. Even a few of these early UTXOs moving always brings a ton of attention and if this behavior continues further scrutiny is made by everyone. Thus the fear of a QC mainly has to do with too many UTXOs being stolen all at once and a few being stolen from insecure addresses with exposed pub keys(not your Bitcoin because you are safe because you know to use 1 UTXO per address like most modern wallets default to ) doesn't really amount to much of a systemic fear at all .

PeyroniesCat

They better leave the $15 worth of BTC I have in there alone!

1ncehost

If BTC in general is broken, they will patch it and roll back that transaction. Exchange rate will crash, but you'll get your btc back. The issue is mostly smart contracts with large attack surfaces

fssman

BTC... behind the Counter ?

Sct1787

The BTC amount and USDT amount can be seen listed on the website. https://www.binance.com/en/support/faq/detail/028799e730294ae4a9b382d60d350116

Grizly2000

Show me how to spend my BTC Via an ETF please.

Grizly2000

down voting HODL in a BTC sub?

CapnCurt81

Honestly I think ETFs are the best path for the majority of folks who just want BTC in their portfolio. A properly sourced, setup, and maintained cold wallet will always be the best option but as we’re seeing time and time again that just isn’t for everyone. Way too many people simply don’t have the security mindset required to hold coins safely.

flarept1

We're getting a big ass black swan event and the daily has 130 comments in 34 hours, and BTC hasn't even dumped 5%. Lmao

SammySkidmark2000

Binance, or has BTC in general been compromised?

cryptokeyhole

It did move, going by our node, though maybe not to the attacker. At 20:20 UTC about 18,270 BTC (~$1.4B) left a Binance hot wallet that's on its own published reserve list, in 11 transactions all going to one address that isn't on that list. On Tuesday the same wallet sent about 11k BTC to an address that only showed up on Binance's list the next day, so this could just be Binance moving hot-wallet coins somewhere safer. If the new address turns up on the list in a day or so, that settles it.

goofygooberxiv

I got the Trezor BTC safe 7 and I like it. Super easy to set up and maintain. I've sent 4 or 5 large transactions to it smoothly, but have yet to take anything off of it.

b1mm3rl1f3

Anything that can be hacked will be hacked, but Biance being the largest hack in internet history, after multiple and various hacks over the past month, a whole Ir an war happening, and the first Fed hike in 3y is very telling. BTC has barely moved aka seller EXHAUSTION

Grizly2000

I'm long BTC. I'm curious what everyone thinks the bottom is. The mid term bull is a thing. 75k? It ain't 40k that's for sure.

DontLook_Weirdo

Welp. I hope you all had lunch, peed, and are strapped in.. the '26 BTC Rocket will be taking off soon.

regate98

Are withdrals of BTC frozen?

Puzzled-Orchid-7282

Considering the rest of the markets shit it today, BTC is holding up just fine!

DrJ0911

Hope it sends BTC to 0

sockpuppets

Hey I'm giving favors by the Wendy's dumpster, I accept BTC. The QR code is on my ass.

SPDSMITH49

Why are you worried about losing market value in the short term? You don’t sell BTC until the 4th quarter of 2029

devCheckingIn

It's a leveraged play on BTC. If BTC goes down big, MSTR goes down bigger.

omni_wisdumb

Anyone who's been around this space since even 2012/13 knows crypto has become nothing more than a digital casino being controlled by a relatively small group of firms, nations, banks, and companies. All stable coins are fully controlled by the energy that created them, same goes for pretty much every coin other than BTC (which also could theoretically be the case ). The space wants to hate or form conspiracies on banks and how the government or secret groups control them, but then they're cool with XRP and USDT and USDC and the coins (even ETH) that can be edited by their founders. Then there's the whole debate about Quantum and AI hacking and what not. There's also the point that, unlike your bank, most of these coins are unregulated and not backed by anything.

bitusher

>most secure and highly recommended cold storage? Your BTC gone. You are exaggerating or concern trolling. Its not all or nothing and many cold card users also rolled their own entropy , added entropy , used multisig, or used an extended passphrase which protected them Obviously with frontier models we all need to be extra careful with our software , fiat and Bitcoin in general at least in the short term. Bitcoin is where most value was found so hackers used AI models to target it first , and now since so much effort is being used by teams of devs to test all bitcoin wallets and software everyday it is easier for them to start attacking other altcoins and sketchy exchanges.

crimeo

BTC just suddenly dropped several % so definitely more than just OP thinks so. Could still be wrong

stonkdongo

Someone stole $5B of my BTC!

Wo0odi

That's why you just buy BTC

Alternative_Week3023

Bitcoin and crypto are not the same thing. Maybe it’s not for you if your investment’s time horizon is not long enough for BTC.

dtg99

I was trying to figure out what could push BTC down to 40k. I initially thought it would take some type of black swan global market crash but this will do.

matthegc

BTC went from $80K to $79K.......

Doritos707

Why not? My goal is to accumulate 0.25 BTC and this helps making my cost average better. Owning Bitcoin is painful by default

RecoveringXRPHodler

Binance insurance fund (SAFU) is completely wiped out, [it's only $1 billion in BTC](https://www.binance.com/en/academy/glossary/secure-asset-fund-for-users)

RecoveringXRPHodler

Binance insurance fund (SAFU) is completely wiped out, [it's only $1 billion in BTC](https://www.binance.com/en/academy/glossary/secure-asset-fund-for-users)

Backrus

It's old news, most money have been frozen already, 1B in BTC is nothing in the grand scheme, it will be absorbed in 1 day. And CZ said Binance will pay out everyone. Just another argument for ETFs and perfect "news" to paint higher low before next leg up - it's still a bull, confirmed on August 24.