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Whether you're a believer in the 4-year cycle or not, $BTC is at a real turning point that you can't miss out on!
mickey_v retweeted
The Binance hacker might have just pulled off one of the smartest moves I’ve seen in crypto.
First, Tether froze $1.5 billion in USDT.
Then Circle froze another $800 million in USDC.
At that point, it looked like the hacker’s money was trapped.
But apparently, he had already planned for that.
Instead of holding the stolen USDT in a wallet, he allegedly deposited it into Aave and used it as collateral to borrow ETH.
Then he walked away.
That’s where the story gets crazy.
Tether can freeze the USDT sitting in the wallet.
But it can’t freeze the ETH he already borrowed.
So now Aave is left holding frozen collateral, while the hacker is sitting on liquid ETH.
And unless the protocol can recover it somehow, he may not even need to pay the loan back.
Two companies froze billions of dollars in seconds.
But someone who understood how to use DeFi may have found a way around both of them.
Pretty insane when you think about it.
Readers added context they thought people might want to know
The described Aave deposit used only ~60M USDT as collateral to borrow 19,762 WETH before freezes hit the main wallet, not the bulk of funds; Aave states the overcollateralized position is subject to normal liquidation with no material protocol risk.
governance.aave.com/t/binance-hot-…
x.com/binance/status…
drk.vc/news/binance-1…
mickey_v retweeted
Update: The current verified total frozen amount is around $3 billion.
Our teams continue to work closely with law enforcement, issuers, blockchain intelligence firms and industry partners to trace and freeze additional assets.
We will only share confirmed figures and will provide further updates as more verified information becomes available. User funds are safe.
bitcoin:native - It's worth-noting that even though futures shorts have been the main aggressor, with rising OI:
- Spot CVD remains positive & elevated
- Spot buyers are absorbing sell pressure
Untapped liquidity remains above which is also our current short-term target
$BTC - Don't usually use Wyckoff method but this one is textbook!!!
bitcoin:native - The trend is indeed your friend. The question is:
- Will PA sustain above $76.3k to maintain the 1st sub-wave of the 3rd OR
- A broader pullback which retests 1M/1W iFVG
For now, any dips are fair game and SL should be placed around $76.3k
I’ve said this plenty of times before, in a bull market, you long the sweeps within the range.
But people keep failing to do it. They’re fixated on the corrective scenario because we’ve only just come out of a bear market full of fakeouts. Now they assume every rally is going to result with a fakeout.
The range and base are established. 80K is the area. Could we see another sweep? Possibly. But eventually, we won’t, and $BTC will move higher without you.
Trade the fucking trend.
$BTC - Missed red zone by a hair and PA headed straight down to LTF support (green zone)
- Heavy spot sell suppresses PA
- OI rises quickly with elevated shorts in the system
Late shorts might get demolished here
We might see BTC revisit 85k - 87k to properly test LTF supply
$BTC - Not only every dip below $81k got bought up, untapped liquidity from above might get taken with the most humble target will be around 85k - 87k, which is also LTF supply
$BTC - Not only every dip below $81k got bought up, untapped liquidity from above might get taken with the most humble target will be around 85k - 87k, which is also LTF supply
$BTC Every dip below $81K is getting bought up, with buyers absorbing selling pressure and forcing a bounce.
There is still plenty of Open Interest in the market, and shorts look increasingly aggressive.
If spot buyers keep stepping in, these shorts could become fuel for the next leg up.
mickey_v retweeted
🐋 UPDATE: Bitcoin wallets holding 10 to 10,000 $BTC hit an all-time high of 20,338, climbing sharply since mid-July despite price volatility, Santiment reports.
bitcoin:native - unfortunately, BTC printed a lower low on 4H timeframe. However, it still holds support in the green zone and it’s reasonable to look for another attempt to 85k - 87k region
bitcoin:native - We should see PA making another attempt to the 85k - 87k region soon
- Can’t really tell if we could go past this LTF supply but a relief to this region is probable
- More assessment to be done as PA develops
$BTC - No bounce after testing LTF untapped liquidity, but price holds above 76,262
- Futures CVD is deeply negative, short positions remain elevated
- Spot CVD shows easing sell pressure
Keeping an eye on potential late short squeezing
The initial sell-off sparked long liquidations; thin altcoins order books amplified the drop. ADL systems exposed its weakness; profitable shorts copped socialised losses
ALT Source: CoinGecko
On this day last year, the largest liquidation event in Cryptocurrency. Whether you made a killing, copped a blow or just watched, it was just another day in the crypto world!
To put things into perspective:
A thread ⤵️
ALT Source: Coinglass
$BTC - No bounce after testing LTF untapped liquidity, but price holds above 76,262
- Futures CVD is deeply negative, short positions remain elevated
- Spot CVD shows easing sell pressure
Keeping an eye on potential late short squeezing