BTC

merdekabelajar

Damn do u guys still have faith in BTC?

bananacrazypants

BTC is never stolen. If I transfer BTC, that means I have the wallet private key. If I have the wallet private key, the BTC is mine.

MasticoSopa

\* Put your entire net worth into BTC \* \* BTC crashes 30% \* LOL.

SoftMidnight7281

You’ve finally exposed him! It’s true BTC has outperformed the stock market over the past decade, and by a massive margin at that. I really didn’t want to keep listening to what he had to say 😂

Artistic_Comment_903

Which ones are being used to facilitate the real economy? Can you use it to buy a house, a car, to pay for a useful service? The long term strategic value of a cryptocurrency can only come from its ability to buy real goods and services. Anything less is just a vehicle for financial speculation and pump and dump schemes. The only one that fulfills that is BTC. XMR if you really have to diversify, but BTC it is.

mel2000

> It’s for drugs silly Most of the current online cannabis vendors seem to be accepting cash, BTC and mainstream debit cards.

VeryThicknLong

The wealthy will always be greedy and selfish. We don’t want to be them. But I’m interested now… what makes you the blessed speaker on all things BTC and corrupt? 👀

Elektroprodukt

Nasdaq down = BTC down

Elektroprodukt

Nasdaq down = BTC down

zante2033

These bots shilling BTC are getting boring now.

lobhater

Banks that launder money what USD not BTC

AutoModerator

Post is by: Kind-Oil-8028 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoInvesting/comments/1xowdhv/btc_fell_55_on_nov_5_but_open_interest_measured/ Two snapshots I happened to take yesterday ended up bracketing the whole drop: 05:10 UTC with BTC at 80,423 and 22:05 UTC with BTC at 75,957, so -5.55%. They cover the 150 most traded USDT perps: funding, open interest on Binance, Bybit, OKX, Bitget and Hyperliquid, plus Binance's long/short ratios. (It's the screener I work on, AIScalp, everything comes from public exchange endpoints.) My first reaction was "big flush". Open interest in dollars dropped 6.1%, from $60.6B to $56.9B. But price dropped about as much, so I converted BTC open interest back into coins. Morning vs evening: Binance 95,851 -> 94,627 BTC (-1.3%) Bybit 67,745 -> 69,150 (+2.1%) OKX 33,341 -> 34,717 (+4.1%) Bitget 37,310 -> 37,010 (-0.8%) Hyperliquid 38,362 -> 41,781 (+8.9%) All five together went from 272.6k to 277.3k BTC, +1.7%. So more BTC was open after the drop than before it, and most of the increase was Hyperliquid, about +3,400 BTC. Funny thing: on ETH and SOL Hyperliquid did the opposite and cut 6.3% and 6.4%. Binance's ratios moved a lot. Accounts long/short on BTC went from 1.38 to 2.96, so roughly three out of four accounts with a BTC position were long by the evening. ETH went from 1.88 to 3.79. Top traders by size leaned longer too, BTC 1.93 to 2.12. Takers were net sellers though, BTC taker buy/sell 1.01 to 0.85. Funding didn't flip. BTC went from 0.0088% to 0.0100% per 8h, and the median across the 150 stayed at 0.005%. Coins with negative funding went from 22 to 34, mostly small caps and tokenized stocks. Obvious caveats: two snapshots aren't the path between them, the accounts ratio counts heads not size, and none of this says where price goes next. What I can't figure out is the Hyperliquid BTC number: +8.9% in coins during a 5.5% drop while Binance shrank. Hedging, basis trades, or just a different crowd buying the dip? Curious how people here read it. Live per-venue OI if anyone wants to check: https://aiscalp.net/en/open-interest/btc *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

cyclik

You’re probably right…now that I’m thinking about it. Maybe I was giving ppl too much credit… I suppose the lowest common denominator in terms of awareness needs to be factored, and I’ve observed recently that most people are not very observant outside of their own lives — their own personal/work spheres. So I suppose those machines actually prey on a certain sub-set of people who would actually buy crypto from an atm in a laundromat or gas station - without checking what the machine says against 3rd party market data (smartphone) - and then buying into a BTC position significantly greater than the current ASK… ouch. 😓 These are the same scammer types that would tell their marks it won’t matter when bitcoin is at 150,000. That’s just their customary rate for their hard work. They’ll tell you whatever they have to tell you to get you to pay $10k over the current market value. They’ll make you feel all warm and fuzzy all over right up until the moment they rob you blind. This machine is set up to help the victims get scammed by their own hands... A real proactive “hands off” approach to ripping people off. Everybody line up now…. 💀 💸

bitsteiner

LOL, as if corruption didn't exist before BTC. Cash and banks are a much better tool, because they provide secrecy. In contrast each blockchain transaction is public.

bitsteiner

Absolutely not. Commercial banks run fractional reserve. Reserve requirement is usually a small percentage of customer deposits. When withdrawals exceed that amount, the bank is bankrupt. There are no BTC banks that run fractional reserve. BTC exchanges are custodians.

AssPunisher6969

We'll be fine. Sounds like hedgies need money. This could be them losing power (in the form of BTC) as well. Keep the DCA rolling and all will be well. Happy Thursday.

rs1971

I wouldn't personally hold anything but BTC. I don't think that there's a convincing long term argument for anything else. (at this point I'm not even all that convinced by the case for BTC, but I'm a long time holder and I can't bring myself to sell)

Opposite_Cold8616

I set the clock back 10 years on my miner and immediately found a dozen BTC, thanks op

Xstronomer

Ethereum. All banks and large financial institutions are building on this and looking to use this chain for the majority of tokenization. BTC second. the rest are junk, sorry.

zante2033

BTC is like the ultimate vehicle for corruption. It's like the holy land.

VeryThicknLong

It’s not the same game… corruption is rife amongst banks, and they get away with it. At least, with BTC you have 100% control over your own asset.

Generalkleist

I hear Bitwise spokespeople saying BTC will go to one million, and then I see the current prices and I just get so... demoralized

Charnia570

Your balance in USD only goes down when you spend it. That's the same with Bitcoin - the balance only goes down if you spend it. However, purchasing power of that USD goes down as you let it sit there. So USD goes down against milk, bread, toys, games, movies etc etc. BTC trends up against these things, including USD.

zante2033

BTC doesn't fix shit. It's the same game.

Fluid_Garden8512

>Perhaps you can explain why it isn't falling by a larger % considering 4 & 5% fall in SP500, Nasdaq are huge % drops yet BTC is at 6% Probably because those stocks are close to ATHs, while BTC isn't. If BTC was also close to ATH it would have seen a larger sell off.

kielkaisyn

This is what they wrote: >This is not even bad. **S&P500 wiped out 2.4 trillion worth of stocks. That's more than the marketcap of BTC.**. So the comparison is made directly to S&P absolute value to say it's not so bad because Bitcoin hasn't lost as much absolute value. The amount of absolute value lost is a pointless metric which is the topic of this comment thread. Where was it stated that "if stocks correct BTC will correct even more"? Even if that were the topic, which it is not mentioned anywhere in this thread, it is objectively true that BTC dropped harder than the S&P 500 despite starting from a worse position relative to ATHs, making the relative drop even worse if extra context is included.

seomarlboro

Two things the chain shows that might help: That address has received 13 payments since Oct 14, about 0.033 BTC in total, the latest one today. So you're very likely not the only customer who got that email, which fits your theory about a leaked customer list. Tell the real vendor now, so they can warn the rest of their customers before more people pay. The closest deposit to your amount is 0.00998157 BTC (tx 3acb0b1fed5f6fceb8d3f6c6f1aba9232456660cf0ef2973f922be07d775f3ba). Compare it with the txid in your wallet. If it's yours, it was split on Nov 5: 0.00563 BTC is still sitting on bc1qhhtc0x00de3pepxwv3x54dxxaua8zgeyw06g4g, and the rest went into a large service wallet. Put those addresses and txids in a police report. It's unlikely to get the money back, but with 13 payers it can become a bigger case.

44193_Red

Democrat house means more scruitnity and issues with BTC dammit.

almosthomeagain

Damn, that sucks. Unfortunately if the BTC was already sent out, there's pretty much no way to reverse it. I'd check your device for malware too, especially since your Messenger got hacked around the same time.

Abject-Stretch-1187

It's irrelevant if the price is already depressed. The point is that many folks claim there's a direct correlation btw the two so if one falls, the other will fall even worse. Whether the market drops or not doesn't negate that belief that they're correlated and when a drop in the broader stock market occurs, BTC should actually drop more than 6% on the day because 4% & 5% drop on the nasdaq/sp500 IS huge.

TheCurlyHomeCook

The whole point of BTC is that that could absolutely happen. Holding on an exchange leaves you just as vulnerable as with a bank. Holding on a cold wallet gives you complete control, hence the whole BTC giving sovereignty ideal. TL;DR not your keys, not your coins

Actual_Pattern_265

Not in a decentralized system and with this level of security. A funny thing about the Bitcoin network that I don't think many anticipated - it became the most secure computer network in existence, by several orders of magnitude. That's actually true - few people talk about it. And it has one purpose - to secure a financial asset worth trillions that nobody actually controls, and would survive a nuclear holocaust + near total global grid failure. (Albeit security would drop substantially with much of the network destroyed...but the algorithm is also genius in how it adapts to this.) I have joked that the only digital networks that will still be chugging along after nuclear armadeggon are Bitcoin and BitTorrent. There's always going to a bunch of couple crazy fuckers on exercise bikes keeping their nodes running for BTC and Avengers movies linked to a satellite. I assume The Pirate Bay will somehow still be up on some .ru server in siberia somewhere.

clownahh

Halving doesnt mean much anymore. Mining is not even profitable anymore. BTC needs to be at over 100k for it to be profitable again. BTC is now a mature asset.

AcanthisittaFuture38

The truth is, nobody actually wants to hold BTC. They’re all just waiting for the price to pump so they can cash out and dump their bags on someone else. It’s basically a game of hot potato: everyone’s hoping to make a quick buck, but nobody wants to be left holding the bag. Anyone who disagrees is just refusing to acknowledge what’s right in front of them.

MrTibbs2022

Link? No. Tokenomics. Xlm..meg not a hot project. Xmr...yes. Add sol and that's it. BTC Eth sol, xmr

Houstoned_I_am

No BTC doesn’t hold a candle to USD

HermesOnToast

On no, not my 0.001 BTC :(

Actual_Pattern_265

BTC went up 1500% between March 2020 (covid crash) November 2021 (covid coming to an end). 950% if you exclude covid crash and start from November 2019 when Dems won. The decline started in December 2021 through to December 2022.

1320Hellcat

Satoshi was Len Sessemen. He developed the first encrypted email, attended events as the name Satoshi. He worked with Apple to develop MacOS & BTC White-paper has been in Apple products since the first Mac PC was produced.

Nemozoli

...especially after a few years when it becomes the most expensive thing you ever had, then it better be the damnedest best stuff ever, or regret sets in! "Could've bought a mansion now with the BTC I spent on Silk Road" style...

Saintgein

This is indeed my point. BTC held up like a champ, meanwhile the losses on stocks are quite big. I bet BTC will be back around 78k or higher within the next few days, since smart people know that this current price is a good time to buy.

ChainCompass

The combination of rising prices and weaker employment is definitely worth watching, but I would be careful about treating a BTC move to $60K as proof that a global crisis is coming. The macro signals themselves seem more interesting than the exact price target.

Abject-Stretch-1187

I think you're straying from the larger point buddy. People complain that btc is correlated to stocks and that has an implication that if stocks were to correct massively then BTC will drop even lower. Now, today, the sp500 & nasdaq were drop 4-5% respectively and yet BTC is down today by only 6% and that's the only point discussed here so you bring up it being down 1M, 1YR is irrelevant to the overall discussion unfortunately.

mx360fitness

Good post thank you! I hold BTC and Spx6900. Appreciate every day a small amount and plan to for years to come.

Saintgein

Yup, this is why i'm impressed BTC didn't go down more. The VIX struck hard, S&P down 4% or more, BTC down about 5%. This is a walk in the park for crypto.

Abject-Stretch-1187

Comprehension. Comparing the percentage drops of index funds to BTC's percentage drops especially when the narrative is that BTC is correlated to stocks and is seen as more risky.

Abject-Stretch-1187

How is it meaningless when BTC has been correlated with stocks?

Abject-Stretch-1187

If it is in fact the biggest misnomer, then why is BTC still the most risky( or at least viewed as such) relative to stocks and yet is outperforming them? Just because it is an anomaly doesn't mean your assumption about investing isn't false as we have BTC to prove that position wrong.

Abject-Stretch-1187

And you're assuming it would've had a further depressed price based on a speculative prognosis on your part. Numbers today aren't lying. 4% & 5% drop today on SP500 & Nasdaq and yet BTC is at 6%, are you saying the fact that BTC isn't dropping further is due to AI profit taking?

Abject-Stretch-1187

Isn't this an assumption as well? BTC didn't get an euphoric top due to massive sellside pressure around 100k. Whether money flowed out of it to AI is speculative however if it was in fact propped up by AI bubble, it should be falling on a larger % basis currently, Nasdaq is 5%, S&P500 close to 4% while BTC is down 6% Perhaps you can explain why it isn't falling by a larger % considering 4 & 5% fall in SP500, Nasdaq are huge % drops yet BTC is at 6%

Fencemaker

So, and I’m genuinely asking because I like the technology behind BTC, what is to stop governments from using Know Your Customer data and tracking down private citizens’ wallet addresses?

Blade_Runner_69

Tell me you don't know anything about BTC without telling me 😂

seansy5000

A $20 DCA into BTC from Jan 1 2017 is worth over $600k today.

jekpopulous2

The stock market isn’t just one big stock. If you look at the market last summer the entire climb was just a handful of AI plays going parabolic. Growth stocks unrelated to the AI buildout ate shit all summer just like BTC. If you take the MAG7 out of the equation the S&P is down big time over the past year. Now that the AI bubble is popping nothing is safe.

These_Application531

Don't forget to panic sale all your BTC, once it recovers you can buy higher later!

Topspeed_PT

Damn, another bad day for bear market haters. BTC (and everything else) is dropping in Q4 as usual.

d30_v1Nd1c3

BTC hitting $1M would require a total market capitalization of $20.1T USD (currently @ $1.54T USD) not sure if anyone understands the size of this compared to the top 3 current asset classes.

Cricket_8719

Part of it is just the massive under reported inflation since Bitcoin started. How many Big Macs can you get with one Bitcoin now vs 2011? Probably more but not as much as it went up in dollars. Someone should do a BTC/Big Mac index.

Sea_Variety_1691

We are about to see all the grifters rotate back into BTC when AI is fully done. I don't like them, but their mania about Bitcoin allows people to actually learn about money and adopt the technology.

Cool-Security-4645

Indirectly, yes it was. That was the only place the economy has been growing, so people investing in BTC are getting their funds from an economy built on the AI bubble. It’s impossible for the two to be entirely uncorrelated You’re making the assumption that it wouldn’t have had even further depressed price action if there were no bubble

seansy5000

We never left. BTC was at less than $4000 in 2020. Zoom out.

Snapper716527

I took the 2 peek BTC days. compared the high from the first one to the close of the second one. for both assets.

clownahh

No. If anything LTC at $50 is a good place to buy. Id be more worried holding projects like XRP or even plain BTC at the moment. Both are still expensive in an economy that is not looking really good.

Awkward_Lie_6635

Don't be a permabull. Sentiments shift, with today's news: an interest increase, a Trump (Media) BTC dump event coupled with major AI users shifting to self hosted (Revolut), a new political tide shifting against bitcoin, everything was pointing to a drop. If you didn't make bank today, i don't know what to say.

__redruM

Bitcoin is now correlated with tech stocks. We got a post election bump with the stock market, and now we drop with stock market. But that means investing in BTC is just a riskier way to invest compared to the wider stock market.

paulverros

That "Why is BTC's price down today?" button has never once given a satisfying answer

Random_Person_246810

Glad he did. The less BTC in grifters’ hands, the better.

Saintgein

Indeed, caused by the VIX to go up 50% in a short time. This makes investors go risk off hard and sell stuff. And this is what caused the long squeeze. Yesterday we had a moment of relief, people thought certainty was back, VIX went down, S&P and BTC up. Seems like this was a bull trap. Hitting the people that put on these highly leveraged longs hard. Meanwhile i don't worry, people are going for highly leveraged shorts currently, and they will also be wiped out.

Suguha_chan

BTC was not held up by the AI bubble, its the opposite, the market pumped AI stocks while bitcoin sidelined

shadowlid

Up we are, the lower it goes the more I get for my money? The quicker I get to 1 BTC? Bring this bitch back to 30K!

Legitimate-Nobody499

“BTC falls to lowest point since 2 days ago, more at 10”.

No-Masterpiece2246

BTC is yesterday's news XMR is the future, it's poised to explode like BTC did when Silk Road hit the mainstream SOL/ETH are the distant future, incredble tech but too soon, and contracts are not secure yet. BCH is likely Satoshi's original plan and it has great devs and community YMMV

Saintgein

It certainly is comparable. S&P500 is the index of all these stocks, while BTC has sort of the same function in crypto. Also, VIX went up 50%. And when VIX does that, S&P500 falls, but BTC falls harder. It's all correlated.

LuM0s-Wolf762

I DACA and buy the dips . Least stressful way I’ve learned to BTC

Saintgein

This is not even bad. S&P500 wiped out 2.4 trillion worth of stocks. That's more than the marketcap of BTC..

useless-flame

Volatility is what makes BTC interesting to an outsider, and makes DCAing a superior strategy

No-Setting9690

Not always good. When Mt Gox collapsed, I saw it in the transfers about 20 minute before they stopped withdraws. I was like hmm . .. this shit is getting slower, let me just export it all .Well those mere 10ish BTC I exported the were worth just a few hundred, but everyone who got their BTC back, got BTC and not dollars, and we all know what 10 BTC is worth today.

Driftmier54

Best part about ETFs is that I can sell covered calls to buy more BTC when it dips <3

Familiar_Television1

Damn that sucks. I was between 11 BTC and 2600 LTC or something like that and chose LTC because it felt like it had more potential and less downside

B0swi1ck

BTC was already up 350% by election day but sure, trump started it. 😉

Djithbit

By GTA7 we'll get BTC to 1 million 😁

Different_Ice_6975

lol. Just yesterday I commented on the [Can I say the "we are so back" line now?](https://www.reddit.com/r/Bitcoin/comments/1xnqnxp/can_i_say_the_we_are_so_back_line_now/) post, pointing out that a 4% jump up is nothing special to cheer about and that 4% jumps up or down have happened with BTC about 40 times in the past year, or about once for every 10 days. A 4% or 5% jump up or down in the stock market is pretty significant, but for BTC with its much higher volatility it’s nothing special. Happens all the time with BTC.

Awkward_Potential_

Price is temporary. Worth is subjective. I think BTC will go to billions. You don't have to agree. But if you agreed with me, wouldn't you be happy to buy it cheaper?

No-Explorer-8949

Lmfao bro missed the 700%. Stocks drops BTC like this every mid term 🤣

RosieYoureFired

Yes, this is why cryptocurrency is useful. For being able to transact online in a way that nobody can track. This gives you a freedom unlike any other "investment" out there. And I already answered your last question. People will be forced to use monero when governments become too restrictive. I envision a dark future where people are given a social credit score and money that can be turned on or off, or can be restricted to only let you buy certain things. If you think I'm a crazy conspiracy theorist, then you simply aren't paying attention because this kind of restrictive system already exist in China. And with techology, it will become easier for other countries to similarly control their citizens. Beyond this, there may be a component of adoption from wealthy individuals who want a way to hide their money from governments. Monero is a Swiss bank account in your pocket. You can store millions of dollars in monero but governments have no way of proving this, and this cannot extract taxes from you. The same can't be said about BTC or just about every other crypto because their blockxhains are transparent. So look, I don't care if you are too scared to buy monero because daddy government doesn't approve of it. But it will be successful regardless because the simple fact is, it works. With monero you can privately buy and sell online, which was always the true goal of crypto from the beginning. BTC failed to accomplish this but monero is a success

Federal-Ask6837

Guy with $100 in BTC has a question for the dev

Emergency_Dish_1213

NASDAQ futures down 5% I'm surprised BTC isn't down 20%. BTC is not trading like a high beta stock anymore, it's trading like an index. This is more surprising to me.

Bloodsucker_

BTC will follow suit too. It's tightly coupled to S&P. The money is the same.

DankShibe

What bull run ? They go up 5% and then drop 10% the day after. And BTC goes up 3% and then drops 5%

WSSquab

How tied to NASDAQ is BTC

Kolo_Toure_

People fail to realise that markets don’t always have to react to news. Bitcoin is forced to make a move, for quite a while now. That move is probably down. That’s it, no news, no crazy shit happening. BTC need to move on one direction.

Sad-Froyo-3198

We haven't seen prices this low since 2 days ago! Is BTC dead?

read_more_comments

He knows what he's talking about. I'm sure he will mortgage the house and short BTC instead of shit posting on reddit for imaginary uppoots. Also no one will even uppoot him, so there's literally no point

Square-Ad-2034

Whatever the final number ends up being, the wild part is BNB barely priced it in. It's down about 7.8% on the week, while BTC is down roughly 5.5%. People clearly trust Binance's balance sheet to eat the loss. Still, a hot wallet that big getting drained should remind everyone that exchange balances are an IOU, not your coins.

DankShibe

BTC 40k . Top 20 alts another 50% down . Lower bottom for alts than 2022. Then BTC x5 and alts X8 in 2028

CutFabulous1178

I’ll wait for the other dip after the other dip Basically I won’t FOMO in to buy It will get choppy I’ll just DCA and chill 1 BTC = 1 BTC Money printer Goes Brr All over again

Shazvox

What dip? BTC is up 77k from 0...

omg_its_dan

Very hard to say without more info. First step would be figuring out how he was storing the BTC. Exchange (eg Coinbase), cold storage wallet (eg Ledger), software wallet etc. Be aware you will receive a ton of DMs due to this post and 100% of them will be trying to scam you.

DeadPhish-710

I've been holding almost 15 years. The 50 BTC I traded for around 5000 LTC are now worth about 3.5 BTC. It is hands down the worst decision I have ever made in my life.

Escapement_Watch

no LTC is basically same price as 13 years ago. It will come back as people rinse themselves out. LTC is BTC but faster and has a privacy option.