bitmex open interest down 10k btc today and still slowly going down (guessing big guys dont wanna spook the retards). but yeah, its happening.
Bitmex open interest down 10k btc today and still slowly going down (guessing big guys dont wanna spook the retards)...
Nolan Garcia
Christian Williams
whats open interest?
Brody Sanchez
the amount of bitcoin used as collateral to long/short
Isaac Morris
So? Explain it to us like we're a bunch of retards. Like, what the FUCK do I do
Jaxson Gomez
you cant actually be this fucking retarded you need to go back to redit. this is a 175+ iq post.
Samuel Adams
Not have any money in buttmex.
Colton Powell
The retards are already spooked. You're being spooky. Better tell us or we're calling the mods
Kayden Cook
sell your bitcoin for us dollars. zero foresight
Luis Sanders
Suck em dry boys
Tyler Stewart
it's the total number of contracts open that have not be settled/closed, each contract is worth 1 USD, the graph that OP posted is this quantity but denominated in BTC, not USD
Ian Richardson
Liquidity going to zero??
Evan Watson
Just tell me what to DO about it
Cooper Jenkins
Buy buy buy!
Charles Reyes
so how low are we going
Jason Miller
basically. slowly bleeding until the dumbies rush to the doors cause the bid side is empty.
Zachary Wright
oh shit someone is closing a fuck ton of contracts, 400+ btc in a minute
Brayden Lopez
Robert Jackson
>the BitMEX platform is operating entirely as normal and all funds are safe. To allay any potential customer concerns, pending withdrawal requests were processed at 17:45 UTC, in line with our standard procedures. We will process another off-cycle withdrawal at 08:00 UTC, 02 Oct 2020, and then 13:00 UTC, as usual.
Adrian Gray
ok, and? bitcoin is leaving their platform.
Ryan Gutierrez
nigga delet dis shit
Benjamin Smith
SHORT SQUEEZE FOLLOWED BY LONG SQUEEZE
Tyler Foster
ok but how low
Aiden Smith
Jace Reyes
that's a man
David Green
This thread is shit. Nothing is happening.
Benjamin Mitchell
>$10645
is that your short squeeze?
Owen King
he's right about the short squeeze. dangerously wrong about "followed by a long squeeze"
he hasn't been following that hodl rates have been increasing over last year and everyone's been scratching their heads why more og's are hodling, velocity of btc is down, yet prices are stagnant. the answer is of course rehypothecation.
the nigger has been part of the cabal that is farming btc investors by continuing to dump paper btc on the market everytime it touched 11.5k - the niggers game came to an end and the result is going to be volcanic outbreak in upwards price.
screenshot this because in a year we will be 50k
Noah Turner
Did we actually lose anything of value with Bitmex? Wasn't Binance and Coinbase still providing like 20x times the open interest shitmex was providing? with Binance even providing 125x through futures as opposed to 100x on Bitmex.
I also think Binance provides 125x on any coin, not like Bitmex which kept lowering 100-50-20-10.
Lincoln Moore
what im saying is bitmex is facing criminal charges by the department of fucking justice in the united states of fucking america. theyre going to go after the platform and shut it down. you either realize this and close your position and move your btc or you risk getting it locked into a legal shitstorm. what im saying is that shorts will cover to BTC spiking the price up, after which longs (if youre smart and get out first) will squeeze it back down as it dumps and clears the bid book. say what you will, bitmex is going down if the DOJ is after them. the FBI is on it too, so yeah.
Liam Kelly
there's no liquidity on the ask side either... Bitmex aint the AAA exchange it used to be.
Juan James
Prosecutors said BitMEX ultimately made itself a “vehicle” for money laundering and sanctions violations, including claims it was used to launder proceeds of a cryptocurrency hack and that customers from Iran traded on its platform.
The defendants “will soon learn the price of their alleged crimes will not be paid with tropical fruit,” FBI Assistant Director William Sweeney said in a statement.
Each count carries a maximum five-year prison term. Reed was arrested in Massachusetts and the other defendants are at large.
The case is U.S. v. Hayes et al, U.S. District Court, Southern District of New York, No. 20-cr-00500.
John Garcia
>The Department of Justice charged Arthur Hayes, Samuel Reed and Benjamin Delo, who together founded BitMEX in 2014, and Gregory Dwyer, its first employee and later head of business development, with violating the federal Bank Secrecy Act and conspiring to violate that law.
>The Commodity Futures Trading Commission filed a separate civil lawsuit to halt BitMEX’s U.S. commodity derivatives business. BitMEX is short for Bitcoin Mercantile Exchange.
Thomas Roberts
if theres no liquidity on the ask side then we play chicken and see who blinks first, but regardless itll be a whiplash of short/long squeezes to clear the order books.
Asher Gutierrez
Remember when the market was free falling and this guy stopped trading bringing it to a halt, he had a vested interest in keeping price around $9-11k. If you think this is bullish for Bitcoin you're fucking retarded, true price discovery is about to happen 3 digit btc incoming
Logan Adams
Its too boring to explain