Trustee made a statement overnight and seems that it was just a consolidation - it will be weeks before they do anything else. Great news for claimants, it looks like they are serious about their Oct deadline.
6k gox BTC moved so far. Been thinking about this moment for a long time wondering what market context would be when it happened, but the expected result is always the same: expect a full retrace -> dip and rip a la 2013.
๐จ Outgoing transaction detected from MtGox ๐จ
An outgoing transaction of BTC -2000.0 from 13Wv5hGhubAWgSPWtXYh6s1s7HX2N1psYg has been detected! This is known to be one of the addresses the MtGox trustee is controlling.
Pls. verify: https://t.co/krbqVwqvNQ
Although itโs all opaque and no word yet from the trustee. But itโs logical that we may see transfers with market reaction + some OTC selling up front but then after that OGโs put coins back into cold storage and another supply overhang is gone.
So tradfi let the #bitcoin apex predator into their china shop, doors open in hours. Supply squeeze, volatility, 24x7, high leverage - will the ETF market makers and APs have enough liquidity or will things get crazy. Everything hits spot in a supply squeeze. And spot is thin.
A well-sourced literary masterpiece to mark the BTC ETF approvals: Out, Damned Spot!
Alternative Macbeth quotes for @HesterPeirce:
โWhatโs done cannot be undone.โ
โScrew your courage to the sticking place.โ
โThere are daggers in menโs smiles.โ
At some points the spot USDT price was more than THIRTY PERCENT above the perps futures price, and a similar amount over the Coinbase USD price.
Been a while since we've seen shit like this ๐ - things are frothy again.