Is the crypto winter over?

Weird situation, I had to take advantage of it and closed my long btc perp futures position (for a profit)

Free money, perp btc futures showing a higher price than spot. I checked different sources, btc is currently below $28k but closed my long btc perp futures at $28,090

Will go back in later...

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Why has BTC decoupled with the risk asset trade on the NASDAQ? BTC use to mirror the profitless high revenue growth tech stocks. NASDAQ keeps going higher but BTC is stuck in the mud. Is it because of the SEC crackdown on staking, etc?

I will concede that the last few days of the rally was principally the mega-Cap stocks vs. ARKK type stocks.
 
NASDAQ keeps going higher but BTC is stuck in the mud. Is it because of the SEC crackdown on staking, etc?
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What you said doesn't seem to make sense to me. BTC can not be staked because of its consensus. It is PoW, not PoS.

Only way I can see staking crackdowns affecting BTC, is people selling off ETH to get out... and then arbitragers moving out of BTC and into ETH to fill the gap.
 
Long btc perp futures @ $27,710

The debt ceiling news is not very bullish, yet, but I'm a bitcoin permabull

Still have to see where the liquidity to buy the new debt will be coming from

 
johnarb said:
I don't think you care much about funnymentals but with the debt ceiling agreement, what's your plan on this position?

It would be a good time to add on the short trade since it's at the top of the $1000 trading range again


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As BTC was trading at around 28.3K last night, I placed an order to reverse at 27.5K, and sure enough it came back down close to my stop but, unlucky SOB that I am, it reversed just shy of 10 ticks from my stop. By the time I checked in today, it was already rocking at 27.7K, so that's where I reversed and went long. Simple as that. I think we're gonna break to the north this time though. I reckon if it wanted to crash, it would have done it by now.
 
schizo said:
already rocking at 27.7K, so that's where I reversed and went long
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We're long at about the same price

This is exactly the same position I had at $27.5k from a couple of weeks ago which was up and down, almost got liquidated last Wednesday unless I added collateral to the USDT collateral ended up closing it last night for a profit of 1.7k USDT due to price mismatch perp futures and spot

I had decided last Wed I was not going to add collateral and if liquidated, would await the debt ceiling situation, which is all moot (for now)

For pure short term trading, I love (dex) perpetual futures, if only the traders on ET would know how awesome this is, 24/7 (no holidays, like today), defined risks, just put the collateral you're willing to lose, close and open anytime 24/7 (no holidays like today) and withdraw and deposit 24/7 (no holidays like today)

With the volatility of bitcoin and other crypto assets, can hit profit target intraday or within a few days if prefer a higher risk/reward. No minimum account size, either and it's very easy to go short or long. Anyway, I can go on and on

By the way it's illegal in the US, which is why Gemini and Coinbase are opening offshore their crypto derivatives operations

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schizo said:
I reckon if it wanted to crash, it would have done it by now.
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I would not be so sure, but I am hopeful that nothing can crash Bitcoin below $25k. We shall see how this Wednesday goes, remember that the US Gov and it's operatives have a weekly Wednesday schedule to cause those btc sharp red candles
 
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