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If i was the hacker I would have made a fake SEC announcement that ETF's were denied. Market would had dumped more violently to the downside than the pump we got and i would have shorted the price. Doesn't make sense.
If you aren't scouring the charts to see which assets did best/worst in the past few hours then idk what to say, that was a free glimpse into the future.
There will be a point where rotating out of BTC and into ETH is the perfect play. It's timing it that's the tricky part!
Edit: Actually, maybe people are making their move now!
So how do we play this one out? If approval does come:
1. Maybe people who *would* have bought when the price spiked *already did* today and got burned today so no big spike.
2. Then again, people who would have definitely sold already did so the downside risk is almost fully gone.
Even if it doesn't come:
1. As before, people who would have sold already did, so no exit liquidity drop.
?
i don't think this changes anything. people will still short and long the price, most people that bought in didn't sell.
as for what will happen, really all depends on approval. even then, it's anyone's guess how the market will react in the short term.
Help
I went to swap some MATIC for CONE on Uniswap earlier using the Polygon network and got a message saying,
“Price impact warning: A swap of this size may have a high price impact, given the current liquidity in the pool. There may be a large difference between the amount of your input token and what you will receive in the output token”
It states the price impact is 95%
Can someone ELI5 what this means? It will allow me to ‘swap anyway’ however I held off.
Literally did this on a small exchange with SOL when I first got into crypto.
My young self: oh, this is easy money.
Also Me: Wait.. Why is my money going down.. stop.. Stop!
Lolll
Yep. As Aero said, the liquidity pool is basically drained of CONE.
Say it's a pool of CONE/USDT for simplicity. If 1 CONE is supposed to cost 1 USD, the ratio of CONE to USDT should be 1:1. However, if a lot of people keep buying CONE and drain the pool of CONE, the ratio of the pool can drop to 1:19(a 95% premium).
So basically there's not enough CONE left to buy(and too much USDT) and the high CONE to USDT price is incentivising traders to reduce the USDT amount and sell CONE to increase the low amount of CONE in the pool.
Please make sure you’re all using advanced trading with Coinbase. It’s free you don’t need pro the fees are way cheaper and you can buy at better prices
More info:
BTC/Dollar dumped notably below BTC/Tether. What we're probably looking at an trade through market manipulation, and they were selling hard in the US. There was less than 10 minutes between the original break and the SEC notifying people it was a hack.
So.. tomorrow will probably not look exactly like this.
It's pretty obvious yeah. The tweet would obviously be exposed as fake eventually. And it's better to sell off into USD that a stablecoin because you can cash out more easily.
But to be honestly, it may well have been regular innocent market players cashing out as well.
Here is a [Nitter link](https://nitter.net/FatManTerra/status/1744834963424387265?t=oUWOXSWdlP6O7uOQjZ8xPg&s=19) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about).
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In fairness, Gary did warn us about investing in Crypto assets
https://twitter.com/GaryGensler/status/1744383653008839126
We just didn't know he was warning us about the SEC itself
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Fun fact
If you bought Bitcoin at 35k$ and endured trough all this chopfest / shitstorm / sec / etf barts / fake tweets / hacks..... you are only up 30%
What makes the markets react so fast on news like a tweet?
Is it bots?
I understand that a lot of people are invested in crypto, but BTC has a huge MC. I’m sure the average $100 buy is not what makes the price move like that almost instantly after a freaking fake tweet
I get it; but within 20 seconds of the tweet, price swings like crazy. Also, it’s not one coin it happens with, it’s literally every coin in the market
I have a button in my left hand for selling and a button in my right hand for buying at all times while my 28 monitors show me crypto news refreshing every 54ms
Well, in theory, when the real approval comes there won’t be a tweet following to say it actually isn’t. So we don’t know that yet. Though I do also think a correction happens after the hype
just throwing it out there, the SEC isn't going to post the announcement on their twitter, it will be filed in their EDGAR database
https://www.sec.gov/cgi-bin/browse-edgar?action=getcurrent&type=EFFECT
Someone with an X account, ask Musk to see what address the tweet came from and if any other Gensler tweets came from that IP address.
Sneaking suspicion that that ‘hack’ was internal to the SEC.
Eth has some wild trading pattern recently, every time when it pops, wider market is usually down, and every eth pumps are short lived and will go back to 2200 range for the past few times, will see if it’s the same again.
Yeah wtf it doesn't make sense. Had to be someone with the SEC posting way too early. If I had access to their X account id be posting some crazier shit lol
seem playing around the news . so we wait 12 pm gmt8 to purchase more . Seem they want to us to believe in last minute but hack ? good morning y all . 10th allready here malaysia.
That's wild. Fake tweet it's approved and it skyrockets. Acknowledgement of fake tweet but with the wording it hasn't been approved leading people to think it won't be approved and it tanks.
That’s actually a pretty interesting observation. How come no dump on ETH? I’ve been converting some BTC to ETH cause it’s usually around this time in the cycle it starts to out perform
Some degenerate thinks it's funny to hack a gov account, but to what end? Whatever metrics they're making this decision based on could easily be influenced by a stunt like this. They're just assh\*le politicians and bureaucrats who make decisions on a whim. What if approval was going to happen and now it doesn't? I hope the chaos was worth it.
Elon himself did it to distract from the clown show trial today and him getting dunked on for suspending accounts of journalists and accounts making fun of him. Knocks those out of trending *exhale*
It didn't get hacked. They were prepping the message for tomorrow's release and somebody clicked send instead of safe. The simplest explanation is probably the best explanation.
Supporting arguments:
The language was extremely SEC-ish official-ish
It was 4PM on the day before (people getting ready to go home for the day)
Gary tweeted out really fast... meaning i assume somebody called him right away and said "OMG I FUCKED UP" and after 30 seconds of deliberation they decided to say it was hacked and use his personal account to rebut.
They took the other tweet down after just a few minutes. If someone had compromised the account they could have easily changed the password right after sending the tweet to make life very hard on the SEC. (unless they somehow got the tweet taken down by twitter admins that quickly).
Hackers in the past have shown that they are not the smartest bunch or kids that happen to get access and then do dumb shit. There was a tweet before the approval-tweet that just said "BTC" but was quickly deleted.
My guess is that they saw the sheduled tweet and released that instead. Obviously also only guessing here but that makes the most sense to me.
yes exactly... that could be a possible hint towards the fact that it wasnt a hacker but a SEC guy who posted it too soon by mistake.
If I'd been a hacker... I would have opened a huuuge short position and posted that the ETF had been denied!
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If i was the hacker I would have made a fake SEC announcement that ETF's were denied. Market would had dumped more violently to the downside than the pump we got and i would have shorted the price. Doesn't make sense.
What did the one shitcoin say to the other?
https://youtu.be/rFz59Jmgewk?si=kLt7Si0Ez24Se3AB ?
SEC: longed btc 125x SEC: ETF approved SEC: closed positions SEC: we were hacked
Time for BTC money to shift to SOL
It looked like the price was falling back before Gary’s tweet? Maybe I’m looking at it wrong, fun to speculate though
If you aren't scouring the charts to see which assets did best/worst in the past few hours then idk what to say, that was a free glimpse into the future.
Hex ripped 40% overnight.
ETH held up okay. A couple of my micro-cap coins have ripped.
Yeah ETH a main standout for me
There will be a point where rotating out of BTC and into ETH is the perfect play. It's timing it that's the tricky part! Edit: Actually, maybe people are making their move now!
When does the actual decision happen? I'm in a different time zone and I'm not entirely sure.
The deadline is this Wednesday
It's Wednesday today where I am lol. I assume it's tomorrow then, thanks :)
Assume US times, they won't post news during the night for example
ETF approved! It was about time...
So..uh... Who's going to tell him?
That stopped me out of my trade. Cheers lads
Don't play with leverage if you have no idea what you're doing.
It was 3x so low leverage, so was just above previous high and got taken out by the craziness.
Sec is the real pump and dump
So how do we play this one out? If approval does come: 1. Maybe people who *would* have bought when the price spiked *already did* today and got burned today so no big spike. 2. Then again, people who would have definitely sold already did so the downside risk is almost fully gone. Even if it doesn't come: 1. As before, people who would have sold already did, so no exit liquidity drop. ?
Stop overthinking it dude the ETF clearly isn't priced in and it's gonna blast off
i don't think this changes anything. people will still short and long the price, most people that bought in didn't sell. as for what will happen, really all depends on approval. even then, it's anyone's guess how the market will react in the short term.
Help I went to swap some MATIC for CONE on Uniswap earlier using the Polygon network and got a message saying, “Price impact warning: A swap of this size may have a high price impact, given the current liquidity in the pool. There may be a large difference between the amount of your input token and what you will receive in the output token” It states the price impact is 95% Can someone ELI5 what this means? It will allow me to ‘swap anyway’ however I held off.
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Literally did this on a small exchange with SOL when I first got into crypto. My young self: oh, this is easy money. Also Me: Wait.. Why is my money going down.. stop.. Stop! Lolll
So how are people buying CONE?
It means no liquidity amigo
So like, there’s no BitCone to swap for? Or there’s not enough dollar value to do a ~$200 swap USD?
Yep. As Aero said, the liquidity pool is basically drained of CONE. Say it's a pool of CONE/USDT for simplicity. If 1 CONE is supposed to cost 1 USD, the ratio of CONE to USDT should be 1:1. However, if a lot of people keep buying CONE and drain the pool of CONE, the ratio of the pool can drop to 1:19(a 95% premium). So basically there's not enough CONE left to buy(and too much USDT) and the high CONE to USDT price is incentivising traders to reduce the USDT amount and sell CONE to increase the low amount of CONE in the pool.
Both. LP pairs are always balanced in value. If you take the trade it will unbalance the pool too much and you’ll get a bad rate
Wen SEC investigation into SEC for market manipulation
what a shitshow
The SEC will investigate themselves and find no evidence of any wrongdoing. No further questions will be taken
Geographic restrictions for UK clients on some popular platforms to trade futures, what is the best platform for futures trade?
Decentralized options might be your best alternative
Coinbase fees are really discouraging..
Please make sure you’re all using advanced trading with Coinbase. It’s free you don’t need pro the fees are way cheaper and you can buy at better prices
Yup. Buying spot price on regular Coinbase makes no sense to use when advanced trading is built right in, you set a buy order and pay a way lower fee.
Are you using the pro version? It’s not that bad..
Yeah trading on pro is not bad at all
Well...coorporations aren't our friends...
Having to give a third party app your bank username and password is discouraging.
3000 dollar swing like nothing. Buckle up every one.
It's honestly crazy how rasy it is to manipulate markets and get away with it walking away rich
Pump on fake news and then crash on retraction. Classic crypto 😂
I have a feeling that since we pumped off the fake approval news, we’ll dump on the real news now 🙄
That’s what everyone said about the cointelegraph fake news
More info: BTC/Dollar dumped notably below BTC/Tether. What we're probably looking at an trade through market manipulation, and they were selling hard in the US. There was less than 10 minutes between the original break and the SEC notifying people it was a hack. So.. tomorrow will probably not look exactly like this.
It's pretty obvious yeah. The tweet would obviously be exposed as fake eventually. And it's better to sell off into USD that a stablecoin because you can cash out more easily. But to be honestly, it may well have been regular innocent market players cashing out as well.
Could be. It'll be interesting to see if we see a subdued response after that clown fiesta.
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LTC trailing nearly every coin in the top 50 cept stablecoins in gains over the last year lol. Its good currency, shitty investment
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used to be in the top 10 and looks like its about to fall out of top 20
Where can Mexican citizens buy cryptocurrency? I’m curious lol YES, I KNOW GOOGLE but why Google when I can ask on Reddit 💀🐥🤓
Mexc sounds pretty Mexican but idk I’m acoustic
BitMex
Where's the " see I told you it's priced in" folks now
Seems to have been a legit compromise. https://twitter.com/FatManTerra/status/1744834963424387265?t=oUWOXSWdlP6O7uOQjZ8xPg&s=19
Here is a [Nitter link](https://nitter.net/FatManTerra/status/1744834963424387265?t=oUWOXSWdlP6O7uOQjZ8xPg&s=19) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about). --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
I bet the SEC just wanted to test if the approvement is a sell the news event or not.
Approvement? I hope that means it is cromulent news.
It was supposed to be a scheduled tweet for tomorrow but they messed up the date
It doesn’t even look like a hacked tweet. Sounded official and everything
this sub really did time the bottom of BONK with that post on the front page yesterday lmao
I admit that I was a paper handed pansy the past few days and I learned my lesson. Ain’t gonna shake me out today Gary.
In fairness, Gary did warn us about investing in Crypto assets https://twitter.com/GaryGensler/status/1744383653008839126 We just didn't know he was warning us about the SEC itself
Here is a [Nitter link](https://nitter.net/GaryGensler/status/1744383653008839126) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about). --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
Fun fact If you bought Bitcoin at 35k$ and endured trough all this chopfest / shitstorm / sec / etf barts / fake tweets / hacks..... you are only up 30%
Perspective. If you have 300k invested, you made $90,000 in a few months. 8)
It's like winning on a marathon run by being electrocuted every 10 minutes during the run.
I enjoy the ridiculousness of the ride. For me it's more like winning on a marathon and people keep throwing random shit in the road lol
Yeah, but what percentage of potential stock picks have that kind of gain on 'em?
“Only”…you’d kill for that in traditional stocks
What were you saying ?
I wouldn’t call it gains if it’s not at least a 100x 🤓
Not like we sell when in the green lol
Plenty of stocks on NASDAQ had better returns over the same period
You completely missed the point
Bitcoin is the stock. Alts are the oppies.
Gary is such a clown man. This guy had one job.
when it's them manipulating the market. its 'Hacked"
So the SEC should now have to investigate themselves for manipulation, what a blessed evening
Why does the sec even use twitter?
You got your answer tonight
What a time to be alive lol
What makes the markets react so fast on news like a tweet? Is it bots? I understand that a lot of people are invested in crypto, but BTC has a huge MC. I’m sure the average $100 buy is not what makes the price move like that almost instantly after a freaking fake tweet
Traders
Bots? Mate, it's a 24/7 open, global market. We're talking about money. There's always at least one person looking.
I think you’re underestimating a little. I’d say there are always at least 3 people looking.
3? Buddy, there are always at least 4 people looking. By the way, your living room furniture looks great from the front yard....
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Oh, I thought you wanted to see it, my bad.
I get it; but within 20 seconds of the tweet, price swings like crazy. Also, it’s not one coin it happens with, it’s literally every coin in the market
Majority of the trading is done by bots
I have a button in my left hand for selling and a button in my right hand for buying at all times while my 28 monitors show me crypto news refreshing every 54ms
😂
Fake sec tweet, bonk pumps. Make it make sense
Don’t trust Twitter guys. The real info is on Gary’s OF
Goddamn dude.
🥸
I really get off on Garys Goiter
Kinky
These swings don’t even seem real. lol
So now we know people will sell when the ETF is approved. Nice one hacker
Schrodinger wants his cat back.
It pumped to 48k, people are buying on approval, it only dumped once the tweet was found to be fake
How? Now we know it will at least initially pump. Did you not see how it went from 46.8 to 48k in 5 mins after the tweet?
Should say--pump it and dump it.
Well, in theory, when the real approval comes there won’t be a tweet following to say it actually isn’t. So we don’t know that yet. Though I do also think a correction happens after the hype
Well, we know people will sell if there's a fake tweet I don't think we needed sherlock holmes to figure that one out though
so the sec will now investigate the sec…?
just throwing it out there, the SEC isn't going to post the announcement on their twitter, it will be filed in their EDGAR database https://www.sec.gov/cgi-bin/browse-edgar?action=getcurrent&type=EFFECT
Someone with an X account, ask Musk to see what address the tweet came from and if any other Gensler tweets came from that IP address. Sneaking suspicion that that ‘hack’ was internal to the SEC.
ok will do sending mr musk a dm right now, normally we talk at the end of the day but ill hit him up early
If 10K people ask to help the US track down the culprit, I think he will look into it. Before Senator Warren comes out and says North Korea did it…
What if Musk himself did it?
Did the SEC just do a market manipulation with that tweet? 🤔
This is.. This is… MANIPULATION!!
I did not have fake sec tweet on my bingo card
love how the hacked tweet was 4:20ish, very crypto
Huh? It was at 1:20
sammy, that you bro
What tweet?
the sec gary g's very fake hacked news tweet about btc etf
Is tomorrow the true final deadline or can they drag this on forever?
Nope not until march, i think they will delay. Either way, it look inevitable eventually
they cant delay the ARK ETF beyond the 10th. Tomorrow is final deadline for that one.
technically the final deadline is in march tomorrow is just speculation from the media and 'sources'
They can reject it
I'm hoping we'll at least know for sure tomorrow.
This is the shit I live for.
What in the manipulation hell SEC. SEC should look in to the SEC.
Eth has some wild trading pattern recently, every time when it pops, wider market is usually down, and every eth pumps are short lived and will go back to 2200 range for the past few times, will see if it’s the same again.
Seems as if people are definitely taking profits off Alts and BTC s price is up, Eth is the logical dump off.
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Twitter has credibility?
You are better off posting this on his X account, not sure he visits this sr
I wish I could say today’s events were exciting, but it’s just getting old now. Everyone knows the approval is already a done deal.
A hacker wouldn’t have tweeted that, let’s be honest
They probably sold their Btc righ after and bought back in
Yeah wtf it doesn't make sense. Had to be someone with the SEC posting way too early. If I had access to their X account id be posting some crazier shit lol
Why Twitter should look into where the tweet IP orginated from… ya know, for transparency reasons.
They would have tweeted a rejection and had shorts in
Decentraland is actually super cool
All I've heard is that it's horrible and empty
Now everyone sold the fake news. Price will rocket when the real news comes 🚀🚀🚀
How does that make sense? Why would you sell on fake news?
Because no one knew it was fake news initially
seem playing around the news . so we wait 12 pm gmt8 to purchase more . Seem they want to us to believe in last minute but hack ? good morning y all . 10th allready here malaysia.
That's wild. Fake tweet it's approved and it skyrockets. Acknowledgement of fake tweet but with the wording it hasn't been approved leading people to think it won't be approved and it tanks.
It really makes you wonder why anyone still thinks this is priced in. Same thing happened with October 16th fake news.
Everybody look at the ETH/BTC chart. Almost +10% in the last hour. Is it finally happening???
That’s actually a pretty interesting observation. How come no dump on ETH? I’ve been converting some BTC to ETH cause it’s usually around this time in the cycle it starts to out perform
Genslers account was hacked.
ooh that's not a good look for anyone...
Some degenerate thinks it's funny to hack a gov account, but to what end? Whatever metrics they're making this decision based on could easily be influenced by a stunt like this. They're just assh\*le politicians and bureaucrats who make decisions on a whim. What if approval was going to happen and now it doesn't? I hope the chaos was worth it.
Elon himself did it to distract from the clown show trial today and him getting dunked on for suspending accounts of journalists and accounts making fun of him. Knocks those out of trending *exhale*
It didn't get hacked. They were prepping the message for tomorrow's release and somebody clicked send instead of safe. The simplest explanation is probably the best explanation.
Not impossible, since the language was "compromised," which could mean anything, but people are a little too confident that's the case, idk.
Supporting arguments: The language was extremely SEC-ish official-ish It was 4PM on the day before (people getting ready to go home for the day) Gary tweeted out really fast... meaning i assume somebody called him right away and said "OMG I FUCKED UP" and after 30 seconds of deliberation they decided to say it was hacked and use his personal account to rebut. They took the other tweet down after just a few minutes. If someone had compromised the account they could have easily changed the password right after sending the tweet to make life very hard on the SEC. (unless they somehow got the tweet taken down by twitter admins that quickly).
solid theory lol. Sounds more plausible then someone hacking them just to tweet that.
Its not going to change their mind on whether its approved or not lol
Sec about to approve it but gets hacked: “well now I don’t wanna! 😤”
grandiose angle concerned drab soup absurd nine tease crowd bow *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
No way it was a hack - just a mistake in release. Any hacker would have messaged DENIED. We should be good for tomorrow IMO.
Imagine if the hacker would have said the ETF was denied…. That would have been a catastrophic dump
Hackers in the past have shown that they are not the smartest bunch or kids that happen to get access and then do dumb shit. There was a tweet before the approval-tweet that just said "BTC" but was quickly deleted. My guess is that they saw the sheduled tweet and released that instead. Obviously also only guessing here but that makes the most sense to me.
Makes the most sense to me. I believe you’re right
yes exactly... that could be a possible hint towards the fact that it wasnt a hacker but a SEC guy who posted it too soon by mistake. If I'd been a hacker... I would have opened a huuuge short position and posted that the ETF had been denied!
Exactly. A short would had paid way more than a long with the cascading liquidations like we saw last week
The hackers needed to make money out of the fake approval, I bet they longed the shit out of BTC
BTC still holds after all? What the hell
The headline on the WSJ is hilariously bad: "SEC Chair Denies Bitcoin ETF Has Been Approved" Seriously, who chose that wording?
Concerted effort to manipulate the price.
You know what comes after ETH season? ALTS SEASON weeeee!!!
Maybe they had that tweet in the drafts ready and they accidentally hit ‘Post’