For my understanding of the ETFs, people are just trading air during the session. After checking on the balance of buys and sells after market closes the emissor of the ETF needs to go to the real market and buy or sell the Bitcoin.
If that's true, what happens if Bitcoin starts to go parabolic? Today Blackrock (for mention a random ETF emissor)would have to go and buy thousands of Bitcoins at 65K, 70K or more. How convenient that the crash of the app stopped the run and now they can buy all that Bitcoin at only 60K.
Just saying
On the other hand, coinbase crashes whenever volume picks up.
There’s a reason engineers and architects are paid well - it’s hard to handle scale
Always
Do you believe that the SEC twitter post was from a hacker?
Do you believe today was s simple outage?
Price manipulation that's difficult to pin on any one. They'll just shrug there shoulders and go, oops how did that happen, we'll have a full investigation and find ourselves are not to blame.
Blaming the hackers and not catching "themselves" while they are at it.
blatant fed op
You are right, going through the manipulation rabbit hole would be a never ending story. The best thing we can do is stack Sats and stay humble
https://imgproxy.snort.social/kQWnq2cuM5XpVtJuzOs0eW3zbZUkHmdJy1Gs5szv4Hk//aHR0cHM6Ly9pbWFnZS5ub3N0ci5idWlsZC8zMDNkOGJjNzQzYzg3M2Q1OTExYjNkMTMyN2M2Y2UwNDlkMDE5YzU3Y2YyZjUwOTYzNTlhY2M4NDIyNDdlNTY0LmpwZw
😂 this is weekly meme material😂
The ETF circuit breaker in beast mode.
As soon as I saw that devil candle I thought: WTF just happened? Then later heard about the coincase "crash" and thought hmmmm... as well. Lots of shenanigans are to be expected when all those etf crooks are involved.
Who's selling at a mere $62k? That's what I want to know.
publicly traded bitcoin mining companies
900 coins a day is not much. $54m at these prices.
This. Miners sell when they have to, in part.
I mean, one of the open secrets of the market is that the spot market is for plebs. The institutions don't usually put orders in order bnooks like a peasant, they have OTC desks for that. The question is what happens when OTC supply runs dry, and pre-arranged deals top out.
So yes, but: yes, in that it arrests the price, which shoud affect the OTC deals as wells, BUT it's not actuallz bought in the order book spot market
They operate OTC and don't affect the markets directly, but if the price in the market is 70K nobody is going to sell anything for less than a 3% premium
I heard about this here on SN and was surprised there's people in this space still using Coinbase
Nobody said anything about using Coinbase, but that the app crashed today and that affected the market is a fact. It creates room for fun conspiracy theories and we are all about them this space
There have to be better options than Coinbase
Plenty for plebs but not for institutions at the moment, that's why 9 out of the 12 ETFs are using them for custody
That’s Coinbase enterprise OTC which used to be Xapo
Coinbase crashed years ago. What we are seeing right now is similar to a derivatives investment with nothing but intangibles and lip service to back it up. You are right ETF is about chasing nothing as they have yet to reveal their PUBLIC KEYS to really get the ground going. If they don't do that it will become a scammers dream all over again.
Fucking Coinbase, the devil's deputy, always crashes whenever the prices go up. Left it years ago..
Yes
https://m.stacker.news/18006
No
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The never sell thing, needs its own post. If selling a big portion of my Bitcoin provides me financial freedom, I will sell my Bitcoin. If you are keeping your Bitcoin in cold storage and working 9 to 5 for someone else. You are still a normie in slavery
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