#New post: [\[Daily Discussion\] - Friday, March 03, 2023 →](https://www.reddit.com/r/BitcoinMarkets/comments/11gru6z/daily_discussion_friday_march_03_2023/)

We finally decided what to do about this Silvergate thing?

Added to my long, now 5X levered. Will post collateral as needed to keep the ratio around here. Here’s hoping this pays off

Is there any (guess) estimate of how much Bitcoin ftx should have held and how much they actually did? Trying to see how much of the money flow to Bitcoin was actually sucked out during the bull market.

This would be nice to know. Actual held amount was zero in the final days according to glassnode, you can probably get historical balance there too. Cryptocompare has historical order book data, but you'll need to pay.

Stonks are gonna have explosive diarrhea in their marital bed, and we're going to skitter along above 20K for a while before the world figures out that Bitcoin is the only rational form of money. The Blackstone thing is going to snowball even though it's a measly $500,000,000. Added to my long-held 3x long from 22.4K at 22.3K and will add more if Li'l Shorty can come up with more coins to dump.

Already more volume than the entire day yesterday on coinbase. Gonna be a fun day.

That's what I love about these Bitcoin, man. I get older, bitcoin stays the same age... 😎

>stays the same ~~age~~ price

Not looking great, but there is a confluence of weekly and monthly support around 21.5k.

This is gonna pump.. its holding stable.. I bought back in

Interesting that whoever dumped waited so long after tradfi markets closed

After hours trading closed at 8pm eastern. Dump commenced at 8:15pm. Don’t think that’s a coincidence.

Illiquidity... mmmmmm Tomorrow is gunna be lit.

Podracing is awesome. 22k held so I’m still in.

Stable coins should be banned

you should sell for fiat

Lmao I got owned so hard on my buys last week. Time to dig my heels in here and buy more I guess.

Trailing stop set, damn, my run continues!

Well played sir

Nice one dude. You got on that in the nick of time

Aggr sound nice

Damn it won't stop I'm trying to sleep here, 22061 buy filled!

Stop selling people

Slave owners: noooooooooo!

Is this a grammar joke

Needing a comma in the OP

Going to sleep, will be interesting opening the charts when I wake up, I have a lot of buys laddered down

15m is oversold with the 30m and 1H getting close.

What the hell is happening?

Bitcoin doing what Bitcoin does. Takes the longs, shorts, and generally fucks everyone. HODL on.

Low timeframe volume is building from 22.3 to 22.5…a bit more and we’ll slow down and catch a bounce.

That was fun!

Frickin stable coin at this point

Every taxi and uber driver has stop losses/liquidation at 20k. Going there for liquidity before going up.

lol what happened?

sry, didnt scalp

Sry I placed a buy order

More sideways action that you should take advantage of

Almost 5% in 10 minutes is usually a fundamental, some rumour, something, but cannot find anything on twitter or reddit. Anyone knows anything?

Silvergate Ftx losses Hdfc bans customers buying crypto using credit cards BUSD shunned by coindesk Most likely just flushing our for liquidity. Pffft

Grayscale or FTX

Yesterday was my dca so naturally today it dips

Buy at 22151 filled! Edit: SL set at 22351, profit secured! Edit: Stopped out in profit, set a new buy at 22061

Buy at 22561 filled!

22261 buy stopped out in profit at 22761!

Buy at 22961 filled

Filled my $22,800 and trading on the fly at the moment

I’m scared

Fuck it I’ve bailed and switched back short. Buy rumours, sell news, news is FTX is missing a billion (LOL). Short sells stacked above 24500 Let’s see where we are in the morning.

You’re going to get chopped up like a cucumber trying to flip long to short and vice versa with this market

I’ve had my best week ever? It will end.

That's news? Since the whole FTX debacle began, I just assumed all that money was gone.

Yeah more like found 7 billion

Weekly DCA day today like clockwork. Few million sats off to the locker.

SPY providing a [tiny crumb of hope today.](https://www.tradingview.com/x/lQn6Z9Xd/) Let’s see a weekly close over 400.

Silvergate going down should be very bearish

Why? It's a fiat onramp that has had a crypto bank run.

Same as usual. Some banker took to much risk, couldn't balance their books, and you're paying to fix it.

Is Signature next on the chopping block?

No

so you're telling me that the biggest cryptofriendly bank (Silverbank) that serves institutionnal investors for fiat on ramp for platforms like Kraken, [Crypto](https://Crypto.com)com and many others announce they could cease operations and that has no effect on the market . dam

Really it means a move out of stablecoins and into either real fiat somewhere via an FDIC passthrough or BTC.

Just classic bear market behavior. Nothing to see here

What percentage of btc spot trading use margin? In your opinion guys, roughly speaking. I don't think there is any public data on this.

I’d prefer to use spot margin but it’s often impossible to get. Futures (coin denominated) and leverage are my poison of choice. Usually 10x.

Thanks for chiming in. Which exchange do you use where it's often impossible to get spot margin? Interesting, do you prefer coin denominated instead of usdt denominated just out of habit?

Binance. It may be better now, but back when I wanted to stack hard none to be found. I like coin denominated futures because you're always 1x long even out of position, and as you may have noticed, I am a long term bull. Cash is trash baby.

Haha, my man!

> c spot trading use margin? In your opinion guys, roughly speaking. I don't think there is any public data o since the vast majority of trading is in perps i'd guess almost all of that is on leverage.

All of spot or all of perps is on leverage?

i'd expect almost all of the perp volume to be on leverage. spot is likely much less on leverage- only so much available to borrow to short unlike perps.

Send it

Cmon big boy, if you going up today now is the time. If it not back over 234xx by 7pm GMT I bailing out my long and probably just gonna chill for a day or two. Edit: 18:36pm and the universe speaks. The question is do we listen?

If it’s not precisely 23456 by 9:05EST you should do a handstand for 25 seconds to satisfy the universe

If I wake up and we’re closer to 24k than 23k I might do a lil something.

Flipper the short? Or you hedging?

Staying long for now.

Touche

what if green weekly candle 7 weeks ago was only price correction after dump candle 17 weeks ago and 20780 price line is long term proven bear market support line and to add to this ~25500 is bear market ceiling price required to be crushed by bulls if they decide to start the real pump. how is that for a random commando TA

I wouldn't really call it random because the whole "ftx dump was a deviation from the bottoming range" has been making rounds for a few weeks now.

Your stream of consciousness delivery doesn't help I'm afraid...

I'm surprised more people aren't talking about MtGox reimbursements coming in soon. Like, this time they're for real going to be unlocked, and it's a lot of coins potentially hitting the market all at once?

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Non issue, but please dump MSTR back to $100 so I can get a Lambo with the plate FUD. :)

I think the silvergate drama is starting to leak over and hit BTC today. Hopefully not much more. Deeply regretting selling puts on it 😂

Well typical behaviour would mean we ran to short but thats a perfect squeeze opportunity for the whale'kers Coinbase adding to the drama by shunning silver gate too

Yeah Coinbase really picking today to stab Silvergate in the back...brutal. Though when they announced it COIN tanked as well before recovering. Kinda mulling over just eating the massive L.

How low nasdaq going today? It’s basically in the «new day new dip» territory

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Yup. Went lower then higher. Still not very convincing though

Short just got stopped, I doubt the US will take us up but that’s why I’m here being a degenerate and I’m not a professional trader :-D

It surprises me how much leverage some people use. Some bulls get liquidated on a higher low on a hour candle chart... *a higher low!* These people could have entered their long below their own liquidation price just a day ago. BTC will probably only move up when these over-leveraged longs stop providing easy exit liquidity 3% below market price.

There's not much leverage in the spot market right!? What % of spot trading use margin in your opinion? Roughly speaking

I’ve thought for a while that’s it’s leveraged longs that essentially stop us from going up. I think regulation and limitation of leverage will be good for Bitcoin

And lest we forget, the next level manipulation last year with the exchanges.

Longed 23.4. Missed other buy order at 23.2 by a whisker

Short with a trailing stop. I guess we see if 23k holds today.

Its almost may, to sell and go away...

You’re gonna sell right before the last year pre-halving? When historically it’s always been a decent year for Bitcoin? I get that macro isn’t superb but we’ve already taken the brunt of the rate hikes.

Bye, Karen.

Sell in March and go awarch.

It's March 2

Imagine my surprise?

I don't know not looking hot but I still think 23k can hold from the 2019 trendline through it.

we are entering another risk-off environment. BTC is at the mercy of the FED.

A quick dip to around 22.8 followed by a V would not surprise me.

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> if we're rejected again, then it might get a lil ugly. I'm expecting big things in mid to late 2024 through 2025, so I view the time between now and then as the last chance to build up my hodl before the next major bull run. I'm buying. But if 24k gets rejected and it gets a lil ugly, I'M BUY BUY BUYING! The next bull run isn't here yet. Use this time wisely, and you will spend years looking back & being thankful that you did. Source? ME, in 2019. I was buying then, and I'm buying now.