Worlds Largest Bitcoin Exchange is SUPPRESSING Bitcoins Price?! ($81K SHORT SQUEEZE) | EP 1579

**Optimist** (0:02)
Bitcoin is ripping towards 81k again, and Bitcoin's next move could be bigger if you're paying attention to Coinbase, or rather what's going on on Coinbase. There is a massive sell wall being built right under 81k, but this appears to be just bears on Coinbase. And further, what we've seen this week, and of course last week, is that the debasement trade appears to be back in favor as money is now flowing back into Bitcoin and gold for the first time in months. The biggest signal here is what I said yesterday.
We are seeing a spot driven rally, which is absolutely bullish, especially since we are getting, you know, I'm getting more comfortable that we are out of a bear market. I know, I know my my odds have been like I guess it's not odd. My percentages here is like 90 percent. It might be higher this morning. I feel a little better that we are actually making the climb back up. Obviously, the I don't know how high I'd be maybe like 98 percent now, 95 percent. And that last percentage is just really me thinking that we might get a dip or a correction here at some point. But since we haven't seen a bar, I'm pretty convinced we're in a bull market anyways. Anyways, enough of that. Maybe we'll talk about that a little later. This is what's the most interesting thing going on. Actually, before I go on, remember, I was telling you guys yesterday, if you watch the show consistently, yesterday I was telling you, if we can get into the 83k range, then I think it's all but confirmed. Actually, that is what all the on-chain metrics are telling us. It's what every signal is basically telling us. If we could get above 83k, if we get a close above 83, then we can very quickly move to the 90k. And honestly, one of my friends asked me, like, so do you think we're getting back to like 100k by end of the year? I'm like, yo, if this price action is what we're going to be expecting for the rest of this year, I might get as bullish as say, maybe by Christmas, we're back to all-time highs. But hey, I didn't say that, OK? I didn't say that. I'm just saying, if we keep moving like we're moving, we can teleport very quickly. And this is why it's so interesting. This is why we're watching the order books right now. It's because it's telling you where the levels are.
Now, Bitcoin Munger, he's not the only one to kind of bring this to everyone's attention, but he goes, bears on Coinbase, continuing to defend 80k. This bear wall too shall pass. And this was earlier this morning at around 9:55 a.m. Eastern time. And you can see this at least from his pictures around 80 What is this? Literally right at 80k. But I went over to Coinglass, and we are looking at the Spot Bitcoin Order Books. And there is one huge in particular wall here if you're reading this. So up here, we have Future Spot. We do have Bitcoin priced in Tether, and of course Bitcoin in dollars.
But what is super interesting? Hold on.

**SPEAKER_2** (3:11)
Jeez, guys, sorry.

**Optimist** (3:13)
I don't know if it started early enough, but I choked on my water. I'm like, dude, confirm 42 IQ. I can't even drink water. All right. Let's look at this order book. Look at the order depth. Now, what is most interesting here is that there's literally nothing as of now above 80K. Now, obviously that can change very quickly. But what we've seen last week and what we're seeing this week is it's getting very dangerous to be shorting right now. You do not want to be throwing up shorts right now, and that is also a bullish indicator. If the traders out there are afraid to throw shorts on the Bitcoin price at local or maybe monthly hides here, then that means they're nervous that they will get their money taken off the table. And that means there's not much selling pressure above 80K. But where is the price point? Where is, oh, well, the main kind of price point that I'm seeing again from CoinGlass. I don't know what everyone else is looking on. Maybe they have the Coinbase order book loaded up. But you can see that the main sell wall here is at about 80 It was at 80 Here we go. Yeah, it's at 8810, $80,810. So we got up to about 80,740 this morning. So we didn't actually kiss this yet, but there's still a lot in the day left. And if you look at it, the majority is coming from Coinbase Pro. Now, obviously, that's not to say necessarily that this is Coinbase themselves that are trying to suppress the Bitcoin price. But the bears on Coinbase are in fact watching that $80,810 price for Bitcoin. So if we can break through that wall, if we can do the classic Gorbachev, you know, bring down this wall meme, then, guys, the teleport up into the $90,000, into, you know, even higher, maybe mid-80s, depending on how aggressive the spot buying is and how big that short squeeze will be, we could be teleporting just as quickly as we did last week. Now, to double down on this idea, we have obviously for the longest time been talking about mother of all short squeezes and we in fact got one. Now, obviously, it wasn't the, you know, gigantic short squeeze that we all were envisioning, but it was, I think, nominally the biggest short squeeze we've seen. It was what about $1.2 billion short squeeze last week that got us up into this price. Obviously, again, spot driven, which is the biggest signal here because we can look, if you guys want, I don't know if you guys want or not, but we'll look at the futures price or actually, let's go to the Bitcoin tether chart here for a little bit. We can see where the action is. Okay, so here you go. With the Bitcoin priced in tether, the sell walls are at about 81 and 84 Actually, there's one, a slightly smaller one around 83 So this is why everyone's been looking at these price points. If we can, one, on spot price in dollars, get past 88.10, the next move is can it get past about 81.810? I think that 887, 8187, then it's 83, and then the final wall is about 84 So these are the levels we're watching right now. And this isn't just like TA, you know, T. Leif reading. We're just watching the order books. Now, what is most interesting about how sell walls kind of get put out there and the psychology behind a sell wall is, as I've been covering for you guys on the show, it looked like a lot of the 83k sell orders have been sitting there for over 100 days. So as the price continues to climb up, if we can continue to break through this 88, 10, 81k sell wall, it's going to be very interesting to watch whether those 83k sell orders get just taken off the books because now they're like, wait, actually, I may have forgotten about this sell order, or maybe I'm not that confident that we are going to go down further, and I don't want to actually be on the line for that sell order there. But again, I said I would pull up the futures chart here. So futures and Bitcoin priced in tether, it does get around similar price points. A little higher on the highest sell order around 85 We see one around a little under 83 We see one at 82 We're seeing one at roughly slightly under 81k. Now let's look at the Bitcoin in pricing dollars futures. And again, they're all at the same orders. Now what is interesting here on the futures though, there is some longs here at the 79 and 78 range. But all of the order books are basically showing us the same psychological sell walls, which is roughly slightly under 81k, around 82k, 83k, and then maybe as high as 84 to 86k range.