Get your 🌽 off exchanges. Mid-October liquidity crisis! \ stacker news ~bitcoin

❗Get your bitcoin off exchanges NOW

Don't mean to be hyperbolic, but everyone is going to feel the heat this November.
Not just traditional finance, but everyone everywhere all at once.
Binance is toast. Coinbase will be under pressure also.
A market meltdown is imminent. We are about to redefine our understanding of 'oversold' in all asset markets. Derivatives will unwind.
Margin calls are starting but they about to come everywhere you look, just look at Gold's price action these last 2 weeks. People are being forced to sell, in the face of dollar scarcity.
Bitcoin is anti-fragile but it it not going to be unaffected.
Every company is raising cash & examining headcounts. Stocks have rebounded into fairytale land once more. Risk is still everywhere.
Unemployment is about to go parabolic again.
Anyone found collateralising junk is going to be shown to be standing naked. This is not even 2008, this WILL be worse. Be prepared plebs...please!
Tensions are high and the West is going into winter, literally and metaphorically. Taiwan, Ukraine, "aliens" create so many potential triggers (and distractions).
Mentally prepare yourself for lower prices. Be ready to deploy capital at lower prices, not now!
Short chain-surveillance companies like Palantir if you wish to be a speculator in these markets.
Don't expect that the Fed can or even wish to step in at this time. Markets always bottom AFTER they intervene.

📉We Are Here

This is not a Bitcoin chart, this is where we are in traditional markets and ETFs. That said, look what happened to BTC's USD price in 2020. A meltdown like this will affect Bitcoin, but more importantly it will affect what you have on exchanges. Or not in the future. Fed liquidity cannot save this right now. They are actively destroying markets.

👍 Reasons to withdraw

Fees are cheap right now, Mempool is almost clear.
Get your shit together THIS WEEK before the stampede occurs and everyone tries to do the same.
Learn how to avoid your dependence on these insane institutions. They are inept.
They will take your Bitcoin and assets to collateralise and save their bacon.
It's easy - there have never been as many solutions and wallets.

👎 Reasons not to withdraw

Laziness
You think the unicorn boom can continue despite the Fed withdrawing liquidity from the markets at a record pace
You are charitable and want to lose all your money
You don't read this

🔼 Inflation will come...

Just not in asset prices.
In regular goods we all need: Rents, Food & Energy.
It will come once again in 6-9 months time, when the pain of deflation is worse than the disgust we see today with inflation.

P.S. I am no expert, but for me this setup is beyond obvious at this point. Don't tempt fate, withdraw today and give yourself options for when you may need it most!

299 sats \ 0 replies \ @fiatbad 5 Oct 2023

Inflation in the short-term is gone, and the fed has 550 basis points of ammunition.

At the first sign of serious trouble, they still start firing that ammunition.

There are a lot of reasons to be bearish, but that's not really new. I think you might be overly doomsday-ish with this post.

I completely agree about withdrawing ALL Sats from exchanges. But not because of impending doom.... it's just the right thing to do.

20 sats \ 0 replies \ @Atreus 6 Oct 2023

What in the hell is an "exchange?"

31 sats \ 0 replies \ @badabing 5 Oct 2023

Nah

21 sats \ 0 replies \ @BTC_Commons 5 Oct 2023

This is a great post. The writing is on the wall. Plebs need to be saving a small war chest in cash to defend our stacks if prices crater. Withdrawing from exchanges is also a must. It will be an epic storm that dwarves the 08 crash.

Be solvent, be liquid and be sovereign. Bitcoin is our life boat.

21 sats \ 0 replies \ @nikotsla 5 Oct 2023

Another cycle...

0 sats \ 1 reply \ @tmoney 6 Oct 2023

Mentally prepare yourself for lower prices. Be ready to deploy capital at lower prices, not now!

Good sentiment overall, but no one knows what the price will do. If you're so confident then short bitcoin :)

0 sats \ 0 replies \ @blocktock OP 6 Oct 2023

Appreciate the comment and do agree with you. Nothing is certain.

To clarify, that chart is not representative of Bitcoin's history but of all US equity markets. Bitcoin doesn't need to go down like that. I remain unconvinced it is correlated. Shorting Bitcoin is not the way to play this. If you wish to speculate, you short the worst and most inflated equities with a tiny proportion of your net worth.

I may be proven wrong on timing and severity but some other pointers:

The Fed president (James Bullard) left 4 months before the end of his natural tenure. Exactly what happened to Mishkin in 2008, with 4 months to go.
Nasdaq CEOs are cashing out their own stocks at record pace.
M2 is in reverse.

0 sats \ 0 replies \ @netstatic 6 Oct 2023

I don't buy the hand-wavey chart reasoning but I do like the reminder to remove funds of exchanges.

0 sats \ 0 replies \ @jinformatique 5 Oct 2023

I did get off binance and coinbase since january this year. But would you recommend to buy some sats (non-KYC of course) this weekend or by the end of the month? Do you think bitcoin will go a bit down in the coming weeks and later go up?

0 sats \ 0 replies \ @fm 5 Oct 2023

good insigth