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re: Official CryptoTalk Thread

Posted on 7/9/25 at 1:30 pm to
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82088 posts
Posted on 7/9/25 at 1:30 pm to
Don't put a lot of weight into what Mow says IMO
Posted by 98eagle
Member since Sep 2020
3147 posts
Posted on 7/9/25 at 1:50 pm to
Yeah I don't pay attention much to Mow. I just found his theory interesting. Basically, many countries with failing currencies could start a domino effect replicating Microstrategy's strategy to accumulate Bitcoin on a larger scale. This would be attempt to offset their failing currencies. Mow speculates once a single country uses this strategy, other countries would follow suit.

His theory is not totally out of the realm of possibility. People have a way of copying what others do and turning into a herd. Countries do this also, especially following the lead of the US. I make a lot of money off of the herd effect of investors driving prices up and down.

I expect more states, countries, pension funds, etc. to continue copying what their peers are doing in establishing and growing Bitcoin reserves. Once a trend starts, others will start joining the rest of the pack.

Posted by beaverfever
Arkansas
Member since Jan 2008
35558 posts
Posted on 7/9/25 at 2:06 pm to
We need buyers to step in. There is still a lot of weight on retail despite the institutional narrative.
Posted by Odinson
Asgard
Member since Apr 2014
2863 posts
Posted on 7/9/25 at 3:01 pm to
Powell resigns = ATH lol
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82088 posts
Posted on 7/9/25 at 3:10 pm to
Happy ATH day!
Posted by beaverfever
Arkansas
Member since Jan 2008
35558 posts
Posted on 7/9/25 at 3:21 pm to
We’re still a bit from an ATH when you adjust for the dollar weakness. And we’re 15% or so from an ATH relative to gold. Honestly, gold is my benchmark.
Posted by Hateradedrink
Member since May 2023
4045 posts
Posted on 7/9/25 at 4:34 pm to
This is a dangerous pump if we dont sustain above 110k.
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82088 posts
Posted on 7/9/25 at 5:34 pm to
You technical chartists boggle my mind sometimes
Posted by Hateradedrink
Member since May 2023
4045 posts
Posted on 7/9/25 at 5:45 pm to
It’s because it baits longs, and then they get liquidated. Really has nothing to do with TA.
Posted by beaverfever
Arkansas
Member since Jan 2008
35558 posts
Posted on 7/9/25 at 6:01 pm to
I wish someone would bait the shorts some day. I’d like that.
Posted by Hateradedrink
Member since May 2023
4045 posts
Posted on 7/9/25 at 6:21 pm to
They did when I made that post a week or two a go about “the last bear trap of the cycle” or whatever.

111k is holding right now which gives me some hope.

It’s just dangerous because it feels like it pumped off this “Powell is resigning” rumor. A breakout off of fake news at this point of the cycle would be unfortunate.
This post was edited on 7/9/25 at 6:22 pm
Posted by beaverfever
Arkansas
Member since Jan 2008
35558 posts
Posted on 7/9/25 at 6:54 pm to
I didn't know that was a rumor. I googled it when I saw that post, didn’t see anything and was like “wtf is he talking about”.

Posted by Hateradedrink
Member since May 2023
4045 posts
Posted on 7/9/25 at 7:08 pm to
I can’t find the actual rumor, but I see fringe websites with articles debunking said rumor. So
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82088 posts
Posted on 7/9/25 at 7:31 pm to
quote:

It’s just dangerous because it feels like it pumped off this “Powell is resigning” rumor. A
I dont think so. I posted that rumor in my group chat a while before price started to run
Posted by Hateradedrink
Member since May 2023
4045 posts
Posted on 7/9/25 at 9:17 pm to
Shrug. Like beaver said, it’s hard to even find a good origin for it. Maybe took time to spread?

Either way, bull traps are bad but we’re in the time frame that this is looking increasingly likely to be real. BTC is running out of time.
Posted by beaverfever
Arkansas
Member since Jan 2008
35558 posts
Posted on 7/9/25 at 9:19 pm to
quote:

I can’t find the actual rumor, but I see fringe websites with articles debunking said rumor. So
I heard someone theorize that a dovish, Trump-placed fed chair was starting to be priced in. Basically, the idea that Trump was GOING to get lower rates sooner rather than later would put a bid on the short side of the yield curve. Obviously that’s stimulative so things rip.

It seems like common sense so you might be thinking “no shite” but I hadn’t considered that potential front-running of the yield curve.
Posted by BottomlandBrew
Member since Aug 2010
29363 posts
Posted on 7/9/25 at 9:22 pm to
Looks like the major Alts ran about an hour before BTC today. Right around 13:00 CDT, which was right around the time Fed meeting minutes were released, I think.
Posted by Hateradedrink
Member since May 2023
4045 posts
Posted on 7/9/25 at 9:24 pm to
It’s also worth mentioning that while BTC touched a new ATH in dollars, it’s still around 10% off its ATH in euros.

The pump to 112k is largely driven by devaluation of the dollar.
Posted by beaverfever
Arkansas
Member since Jan 2008
35558 posts
Posted on 7/10/25 at 9:09 am to
The price being down today reeks. Nobody sells the day you hit a new ATH with a great technical setup. I love btc but hate the derivatives and market makers.
Posted by Hateradedrink
Member since May 2023
4045 posts
Posted on 7/10/25 at 9:15 am to
Eh, I think it makes sense after the sharp rejection from 112.

BTC is acting like 110-111k is being flipped from resistance to support.

112-115k is a monster and buyers aren’t going to commit to that just yet.
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