Hey yo, howzit going with the daily faithfulness of this channel, the Chico Army & of course those newbies, the viewers of the tube. My name is Tyler the host of the crypto channel that can turn a peaceful day, upside down, kind of like this fishermanâ€™s now if a meth lab blows up in the woods, does it make a sound?
Itâ€™s time for Chico Crypto! Well BITCOIN has decided to explode too and has officially broken the RESISTANCE. Sunday we touched it 10k, but got rejected although once the clocked tipped over to Monday, the price started moving and moving, and as of yesterday, when shooting this video we were sitting above $10, 700 No doubt, no doubtâ€¦.
That is good as this resistance level has attempted to be broken more than a few times throughout the year which it failed to do so and guess what someone special loves when we break this level Arthur Hayes, CEO of Bitmex as he starts tweeting like a mad man.
And this 10k break attempt is no exception. He tweeted once we broke it, â€œyou gotta pump it upâ€ on Sunday then yesterday with the official break, he tweeted â€œIT’S A FUNKING BULL MARKET ARE YOU READY!!!!! And finally, he ended it with this, a picture of Scrooge McDuck skiing down all monies, with this â€œ â€œI told y’all about my pocket rockets. I’m ’bout to go Scrooge McDuck on this mother funker.â€ So is Arthur Bullish? Well, that depends, on what people are doing on his exchange, and beyond.
Which way is the leverage leaning long or short? If the majority are going LONG, they will pull the rug out, and we will drop below 10k again if the majority are shorting, they will continue the pump. And here is a prime example, one of the last times we tried to break 10k. Letâ€™s see what Arthur was tweeting this May 14th â€œStonks be rolling over, #bitcoin be mooning. SPX double bear market rally top at the 62% retracement, rut roh.
Fire up those stimulus checks and letâ€™s take out $10k bitcoinâ€ than just a few days later â€œA gunslinger never sits with his back to the entrance. Watch the backend, XBTU20, rocket as we tear through 10k. Which did not happen, there were a few attempts but the price deflated into high 8k levels. And what type of trades do you think got rekted back then? Shorts in the beginning, and then Longs at the end. Using Wayback machine, and looking at Datamish long vs short liquidations, during that time in May.
As we can see, when the price started to rise at the end of April shorts were getting liquidated majority over longs, but not much money, in Bitmex liquidation Terms, as the largest day only topped 50 million face value well letâ€™s expand it out, once the 10k rejections cameâ€¦.majority long, with one day during that time period, topping out at 277 million notional value on just longs ya the exchange, made bank, once he got people BULLISH wasnâ€™t money to be made with those bears, as liquidations got nowhere near this level with shorts, but LONGs oh ya.
So, looking at Datamish data for this recent pump, we can see over the past week it has been majority short liquidations, and the levels are so so, but nothing like back in May? Those bullish longers, to get REKT next? Well, I wouldnâ€™t doubt, seeing damage on the rekto app, breaking 100 million in 24 hours here soon! And that doesnâ€™t mean Iâ€™m bearish you guys like I said, it all depends on what people are doing on the futures exchanges, are they majority long or short? And people might be catching on to ole Hayes, whippersnapper moves.
Some of the top comments his most recent series of bullish tweets are â€œHe clearly stated that a dump is incomingâ€ â€Local Top Singalâ€ â€¦â€ Arthur Hayes just tweeted!!!! Have your shorts ready!!!!! & â€œDump Incomingâ€. So, these traders know Arthurâ€™s Game, and in the past, after he has tweeted, especially around this 10k level, a dump down rekting the longs.
But Arthur ain’t no dummy, and if people majority think he is pulling a quick 1-2 as he did in the past, he just might pull out the three, and rekt the shorts big time. Because the final tweet is a person who just posted an infographic which explains that market movements are much more than just a factor of crypto hayes.
They posted how the Tether Pump works. Number 1, Tether prints to buy Bitcoin, thus the Bitcoin and USDT pair skyrocketsâ€¦.arbitrage bots, buy up the BTC USD pair because everyone is under the assumption, 1 USDT=1 Dollar.
This overall price increase brings in dumb money, from new traders & seasoned traders as the media blasts it across our screens. BTC/USDT pair skyrockets, arbitrage bots buy BTC USDT, skyrocketing it further and then finally there is those who cash out, Tether, of course, sells the BTC they got, from their printed Tether, for USD, and that fugazi money is now semi backed by USD they pay out the few who â€œredeemâ€ it, and then the rest is theirs.
And if you have been following my channel, we know about this, and weâ€™ve known about this for some time, and the walls are closing each and every day on Tetherâ€™s issuer and manager of the printer Bitfinex. We know they lost the appeal, they will have to face trial and turn over documentation.
And itâ€™s going to reveal a lot, a whole freaking hell of a lot and not just about Bitfinex. Here is what they are required to do all documents concerning bitfinex users, accounts, clients, or customers that reside or are believed to reside, do business, or believed to do business in New York and then all documents of those who just hold it, who is in New York and finally all documents concerning any business relationship with any New York-based or licensed company.
So, you remember this piece of evidence the AG has, its correspondence between Bitfinex and a Galaxy Digital, which as we can see they reside in New York. Who owns the Galaxy? Itâ€™s Micheal Novogratzâ€¦ (Laughing) But it gets even worse, Bitfinex will have to turn over all documents regarding any transaction regarding the US dollar reserves underlying the Tether all documents of the â€œloansâ€ made between third parties, including between Tether and bitfinex.
And then these big ones, all documents evidencing all requests, orders, or demands for US dollar withdrawals from the Bitfinex platform, and all documents evidencing each order or request for purchase, issuance or redemption of Tether since January 1st 2017.
WHOOOO Bitfinex better has their accounting in order because below that they want all banking documentation & the identification of all New York and US customers whose funds were provided to crypto capital YIKES the shadow bankâ€¦ So the big reveal is coming, and it wonâ€™t be good you guys per example here.
In July of 2018, it was announced by Bitfinex that Tether was getting a Real Chief Compliance officer, CCO. The article on it states â€œThe British Virgin Island-based company announced on Thursday that Leonardo Real will be responsible for making sure Tether is following regulations.
Real was previously quality control manager at Bank of Montrealâ€™s anti-money laundering officeâ€ Well I wonder what has happened to REAL? Well he had a LinkedIn profile, with his image on it, as we can confirm from RocketReach, which pulls the data as we can see Chief Compliance Officer @ Tether well let just click on the Linked N button oh Leonardo has deleted his Linked, Tetherâ€™s chief compliance officer, which throughout yesterday, he was slowly deleting it all, someone on Twitter caught it, with profile images deleted, but not the full profile yet.
And then someone luckily caught another image of him, besides the small one stored on rocket reach, him posting himself meeting the pope which is a good thing, because if you search his name on google, Leonardo Real Tether, literally nothing comes up, and what else is suspicious, is there was a ton of controversy for when Mattew Tremblay, former CCO left and LEO took over Trembaly went missing, and Tether never added LEO to the team page like Matt.
And donâ€™t you find it suspicious, that in just the past 7 days, the market cap of USDT has increased by nearly 400 million dollars. Iâ€™m telling you guys, the big one is coming to expect a growing radio Silence from those involved with Tether as time goes on, and this summer of Euphoria ramps up, and then comes to a close.
And Iâ€™ll just close this video out with this, the front page of the subreddit bitcoin post after bullish post, to the moon please, 10k, hODL on, itâ€™s Christmas in July and 10.5k REKT and just below that, read what it says Bitcoin cracks 2020 high at 10,500 on Bitfinex…yes they were leading this pump, with the BTC USDT pair.
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