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BTC longs at a record high


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BTC longs are going through the roof, higher that they have ever been by an order of magnitude. What is going on here? Does someone know something we don't? Or are the still unregulated exchanges spoofing the longs to lure in gullible public for exit liquidity?

WTF.png

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43 minutes ago, QuestionMark said:

BTC longs are going through the roof, higher that they have ever been by an order of magnitude. What is going on here? Does someone know something we don't? Or are the still unregulated exchanges spoofing the longs to lure in gullible public for exit liquidity?

WTF.png

Here comes the longsqueeze... 

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Posted (edited)

Interesting observation @QuestionMark

According to CryptoQuant the total number of BTCs currently held in exchanges is very low (blue line in the image below). If exchanges wanted to lure in public for exit liquidity, I'd expect that number to be significantly higher. 
595403973_BitcoinExchangeReserve-AllExchanges.thumb.png.6a21f0e7ccf437c06b3a065d7f454660.png

If the values rise in reserve, that indicates higher selling pressure and has shown an opposite trend in price in general. For stablecoin, value rise indicates buying pressure. For derivative exchange, since coins could be used to open both long/short, a rise in reserve values indicates possible high volatility.
Source: https://tinyurl.com/yckp7kcs

 

Edited by Danny
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Mr. RoberHarpool are you telling me that BTC isn't the future of money? I thought gas fees and mining were a good thing because something that needs to be mined shows it has value even if there are other protocalls that are faster, cheaper, and utilize less resources. You know because. (the above is sarcasm)

For Op and others: I think we have been in a long squeeze since BTC reached $60,000 USD. For xrp, we have been in a long squeeze since the SEC lawsuit. Yes there was a larger upside after the lawsuit, but the pressure still existed. I assume we will be in a bear market just like the probable recession that hits the stock market and the economy in general. XRP, may see relief during a bear market after the lawsuit, but my best guess will still price suppression in accordance to the depth of a recession. Hopefully it will be short lived and with real adoption(xrp) with actual physical economic growth (not paper baron money) will help xrp reach capitulation.

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  • 3 weeks later...

The longs are still going up, with BTC teetering on breaking 25k.... What gives? I know crypto markets are unregulated and hence manipulated beyond all expectations, but what is going on here? Are they just spoofing the longs to keep suckering people in or what? Can anyone explain?

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2 hours ago, QuestionMark said:

The longs are still going up, with BTC teetering on breaking 25k.... What gives? I know crypto markets are unregulated and hence manipulated beyond all expectations, but what is going on here? Are they just spoofing the longs to keep suckering people in or what? Can anyone explain?

Bitfinex BTCUSD Long/Short chart is a mystery that noone can explain.

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3 minutes ago, QuestionMark said:

So I'd say the best guess here would be it is all bullshit. Seems like a recurring theme in everything crypto...

It's actually hugely bearish.

People believe BTC price will go up. They long BTC. Price goes down and trap the buyers. If they sell now, they sell at a loss. But the price is going down so much that it is nearing their liquidation. They don't want to be liquidated, bring more money to the exchange, revenge trade, and long again. They hope that when the price goes up, that newly open long will be profitable and compensate for the losses they made on the initial long. They do that a few times until... they get liquidated anyway, price tanks HARD and they lose all their money.

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Posted (edited)
19 minutes ago, Troote said:

It's actually hugely bearish.

People believe BTC price will go up. They long BTC. Price goes down and trap the buyers. If they sell now, they sell at a loss. But the price is going down so much that it is nearing their liquidation. They don't want to be liquidated, bring more money to the exchange, revenge trade, and long again. They hope that when the price goes up, that newly open long will be profitable and compensate for the losses they made on the initial long. They do that a few times until... they get liquidated anyway, price tanks HARD and they lose all their money.

I know the mechanics of a long squeeze, but thanks anyway. What I was really wondering about was why would anyone INCREASE their long positions when the market keeps dropping. It drops more and they add more. All time high more.  Does that make any sense to you?

This can't be retail, not at these volumes. 

Edited by QuestionMark
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3 minutes ago, xrp-nuke said:

Maybe some hedge tactics?

Adding to a losing position seems like a very dubious hedge to me. But hey, when things don't work out as we wanted them to doubling down is the way to go. Just look at all the politicians in recent history...

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