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Started By
Message
re: Official CryptoTalk Thread
Posted on 10/29/24 at 12:39 pm to boomtown143
Posted on 10/29/24 at 12:39 pm to boomtown143
I’ll play with you.
Please tell me where the money has come from since the etfs have been approved.
I know the answer already btw but I’ll let you look it up.
ETA: i guess i should have clarified what i call retail. Meaning exchange buying.
All buying pressure is ETFs and direct from miners.
Look at Google trends. Nobody in the general public is interested in buying bitcoin right now.
"At present, retail investors are selling, and the main price push comes from institutional investors"
LINK
Please tell me where the money has come from since the etfs have been approved.
I know the answer already btw but I’ll let you look it up.
ETA: i guess i should have clarified what i call retail. Meaning exchange buying.
All buying pressure is ETFs and direct from miners.
Look at Google trends. Nobody in the general public is interested in buying bitcoin right now.
"At present, retail investors are selling, and the main price push comes from institutional investors"
LINK
This post was edited on 10/29/24 at 1:11 pm
2
Posted on 10/29/24 at 2:21 pm to I Love Bama
Juuust about had it. It failed to break ATH on it's first push to that number. Let's see if it can get through on it's second attempt.
Posted on 10/29/24 at 2:50 pm to I Love Bama
From what I can tell, Bitcoin is still seen as dead and gone by the casuals from previous cycles. It’s officially been co-opted by the investor class.
Posted on 10/29/24 at 3:54 pm to beaverfever
NTY.
I try to gauge market depth. In equities you can see institutional trades if you know what to look for, and 100% dependent on what trading platform and exchanges used. It's much more difficult for BTC. There are a lot of retail exchanges. The best I do is look at the depth and order book of the future's contracts. At some point I need to look up the commitment of traders reports where institutions and large hedgers are required to report positions. I just haven't done this yet.
I went short on BITX earlier today. A put option position expiry December. I'm not short BTC, just trading around it.
As near as I can tell, and again it is incredibly difficult, we're seeing some profit taking, and closing of positions for traders that keep regular hours. The computers never sleep though. What I see a lot of times is BTC run when the retail guys (I assume) get off of work, e.g. not traditional trading hours.
I suspect there has do be some market efficiency corrections between the funds, contracts, options and actual BTC. I also suspect there is contango and backwardation between the various asset classes in addition to backwardation and contango on BTC.
Today was certainly interesting. And I'm kicking myself since I closed BITX way too soon. A good friend of mine tells me never be emotional in this way about a profitable trade. The volatility trading gets my juices going like the old days. The buy and hold stuff doesn't cause me much concern except it's hard for me to average up. And I'm always averaging up when I buy add'l BTC.
I try to gauge market depth. In equities you can see institutional trades if you know what to look for, and 100% dependent on what trading platform and exchanges used. It's much more difficult for BTC. There are a lot of retail exchanges. The best I do is look at the depth and order book of the future's contracts. At some point I need to look up the commitment of traders reports where institutions and large hedgers are required to report positions. I just haven't done this yet.
I went short on BITX earlier today. A put option position expiry December. I'm not short BTC, just trading around it.
As near as I can tell, and again it is incredibly difficult, we're seeing some profit taking, and closing of positions for traders that keep regular hours. The computers never sleep though. What I see a lot of times is BTC run when the retail guys (I assume) get off of work, e.g. not traditional trading hours.
I suspect there has do be some market efficiency corrections between the funds, contracts, options and actual BTC. I also suspect there is contango and backwardation between the various asset classes in addition to backwardation and contango on BTC.
Today was certainly interesting. And I'm kicking myself since I closed BITX way too soon. A good friend of mine tells me never be emotional in this way about a profitable trade. The volatility trading gets my juices going like the old days. The buy and hold stuff doesn't cause me much concern except it's hard for me to average up. And I'm always averaging up when I buy add'l BTC.
Posted on 10/29/24 at 5:58 pm to Iowa Golfer
quote:
And I'm kicking myself since I closed BITX way too soon.
Me too. I wouldn’t call it a panic sell because I made som profit but has I held it for another couple days…
Posted on 10/30/24 at 12:48 pm to Iowa Golfer
quote:
Good info here.
She kept the long/short mix the same. A cynic might suggest she's hedged and wedged for either electoral outcome, someone more charitable might say she decided not to rock the boat with so much uncertainty surrounding the election. The variable here of course is total borrowing which is dependent on how many boomers retire this quarter.
Posted on 10/30/24 at 4:21 pm to Art Blakey
She's made comments in the past that are borderline, if not in fact political. I believe she went off on affordable housing at one time and pushed the envelope. I had pointed this out and some on here who worship the Fed. didn't like it very much.
I do appreciate your post and found it useful. I trade a lot on election night or shortly after the election. At least I have the last two elections. It's been successful. 2016 Volatility. 2020 long oil and then later short natural gas. 2024 probably volatility, probably short oil no matter who wins, and something around BTC.
I'm short BITX around my BTC right now. A small trade. Just trying to ride something down before I go long BITX again. I have long puts. Toying around with option's pricing around BTC volatility. I also have a smallish managed commodities account where I do a little of this type of thing.
I can't figure out an affordable way to get protective puts on my BTC. I absolutely need to get this done more reasonably priced if possible. As it is I pay the premiums. Way too large of an unrealized gain at stake.
I do appreciate your post and found it useful. I trade a lot on election night or shortly after the election. At least I have the last two elections. It's been successful. 2016 Volatility. 2020 long oil and then later short natural gas. 2024 probably volatility, probably short oil no matter who wins, and something around BTC.
I'm short BITX around my BTC right now. A small trade. Just trying to ride something down before I go long BITX again. I have long puts. Toying around with option's pricing around BTC volatility. I also have a smallish managed commodities account where I do a little of this type of thing.
I can't figure out an affordable way to get protective puts on my BTC. I absolutely need to get this done more reasonably priced if possible. As it is I pay the premiums. Way too large of an unrealized gain at stake.
This post was edited on 10/30/24 at 4:22 pm
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