BTCUSDT20240524P69500
Bitcoin / Tether USD May 24 2024 69500.00 Put
crypto

Its a ponzi scheme. They have to issue new bonds to pay off the old ones. The bonds are valued MTM based on supply/demand. If demand goes down (because of BTC price) then they must issue more thus starting a crash that could end in the debt becoming worthless and eventually they are unable to raise anything and suddenly the company is bankrupt.

Yeah I already got rekt very hard by alts but mostly cause I bought too much in 2024 and too little in 2022 (couldn't afford much then unofrtunately). What I learned in those years about these shitcoins is that the ONLY time for entries is during the deepest bear. I'm also buying BTC and ETH this time around though, just generally being more patient and calculated.

Unfortunately not. Been around for 8+ years. It used to feel like the bleeding edge of tech, now it feels like a sinking ship, and I’ve been through a few bear markets before. I’m not thinking about BTC, I’m thinking about the larger ecosystem/tech.

Usually alt coins lose value vs. BTC over the years. Maybe you find some unicorns. Otherwise, I personally would stick to BTC.

Well he's insinuating it *has to be* bearish, right?
I don't think it has to mean that the only option is that the BTC price drops from here. Maybe this is again a local bottom and it starts to creep up now.

Tempted to pick up some MSTR shares at these prices. Being in the UK, I can hold them in my ISA and pay no tax on any gains, whereas additional BTC purchases would be outside the ISA and potentially subject to 20% CGT when I sell.

ALWAYS sell the pump. If you're wanting to make money, you have to dump the pump. It's undefeated in the bear cycle of the BTC 4 year cycle.

It's not like BTC is dead but we just have to understand that what comes with "institutional adoption" is an absolutely gigantic pool of money that can be used now for short selling crypto. And that has been going on.

If you don't know or care how much you own I doubt BTC is the right investment for you. That's like saying you don't know how much savings you have, or how much debt you have. Numbers matter.

Appreciate it! Honestly your HYPE bag is the spicy one here, that was literally the only ETF pulling inflows during the entire 13-day BTC outflow streak last month.

The market was worth 4T just few months ago so somebody already did it by now and yeah, Saylor just by himself could push BTC below 10k, maybe even back to 3k (2017 and 2018 lows).

Oh yea. Micheal Saylor pulled out 34billion from his arse and bought BTC. Sounds about right.

The BTC market is more or less mature at $1.5 trillion and around $50k, IMO. The people who want it, have it.

ok but who's solving the "agent makes a commitment in 50ms but BTC settles in 10 min" problem because that gap is gonna wreck so many demos lmao

Genuinely couldn't have said it better man. That's what they want retail to do is fomo in for this AI frenzy. Currently not stacking BTC but am solana and hyper. We are due here within the next year for a run. Good post once again sir 🤙

BTC 15 x HIMS Jan 2027 $20 P @ $2.30 each. Sold for $6.15 each. Profit: $5,750
BTC 1 x AXTI Jan 2027 $140 naked call @ $21. Sold for $39. Profit: $1,800
BTC 1 x SPCX Jan 2027 $380 naked call @ $9.10. Sold for $24.10. Profit: $1,500
Total realized profit today from previously opened theta positions: $9,050
Total realized profit this (4 day) week from previously opened theta positions: $56,500
\-------
STO 50 x HIMS 7/17/26 $45 CC @ $0.66 each. Premium: $3,300
STO 1 x SNDK Jan 2027 $3,250 naked call @ $454. Premium: $45,400
STO 5 x MU 7/24/26 $2,220 naked call @ $6 each. Premium: $3,000
STO 20 x UPBD 7/17/26 $17.50 P @ $0.60 each. Premium: $1,200
STO 10 x RDDT 7/17/26 $160 P @ $8.80 each. Premium: $8,800
STO 5 x RDDT 8/21/26 $160 P @ $17.45 each. Premium: $8,725
STO 5 x NOW Jan 2027 $75 P @ $7.70 each. premium: $3,850
STO 5 x CRM Jan 2027 $135 P @ $12.25 each. Premium: $6,125
STO 10 x MNDY 7/17/26 $70 P @ $4.50 each. Premium $4,500
STO 3 x ADBE Jan 2027 $180 P @ $19 each. Premium: $5,700
STO 1 x SNDK Jan 2027 $1500 P @ $309.70. Premium: $30,970
STO 3 x DAVE 7/17/26 $260 P @ $10.75 each. Premium: $3,225
STO 10 x ROOT Jan 2027 $40 P @ $5.55 each. Premium: $5,555
Total premium sold today: $130,350

BTC 5x XSP 0DTE 750/755c @ 0.6 ea (+0.4 ea)
OK, I'll settle for 1/5 of a phone. Thanks for the play u/LongjumpingBeyond404. Can't turn down making 200 bucks in like ten minutes.

Every YT thumbnail, CNBC segment and finance Twitter thread for the last month has been pushing some version of "crypto is dead, AI is the new BTC, get out while you can".. And I've been watching people in my circle and across this sub execute on that exact thesis in real time. Friends who survived the 2022 shitshow where everything came apart at once are throwing in the towel. Coworkers who finally bought BTC in 2024 are selling at a loss to scrape together SPCX allocations through Fidelity. Writing this for the people genuinely thinking about doing the same thing right now, because I think a lot of you are about to make a really expensive mistake.
In truth, ETH at $1,710 is brutal. BTC at $63k after this many months of grinding is exhausting. The supercycle people would not shut up about in 2024 never materialized, no altseason either. The pain is legitimate, but step back and look at what's happening on both sides of this rotation simultaneously, because the picture is wild.
The Crypto Fear & Greed Index spent over 60 consecutive days printing single digits (below 10) earlier this year. That's the longest streak in the entire history of the index - roughly double the previous record, which itself was set during the worst stretch of 2022 when everything was unraveling at once. Every single time fear got anywhere near these depths in crypto's measured history, BTC was within weeks of its cycle bottom and more than doubled within the following year. We just printed the deepest, longest extreme fear reading the asset class has ever produced. Historically, this is the worst possible moment to be selling.
Meanwhile in the other half of the market: SpaceX IPO'd last Friday at $135 per share, hit $176 intraday, closed up 19% on day one, and the offering was oversubscribed 4x. Musk became the world's first paper trillionaire literally overnight. Anthropic confidentially filed for IPO this week. OpenAI is reportedly weeks behind. Robinhood reported record traffic on SpaceX debut day. The entire IPO calendar (Stripe, Databricks, Anthropic, OpenAI, and the rest of the late-stage unicorns) is stacked into the same six-month window.
Now, there's a thesis circulating in serious financial circles that the entire equity rally currently is being structurally propped up to clear the IPO window. Once these megacaps are priced and trading, the marginal bid that's been holding the market up evaporates. Whether you buy that specific framing or not, the historical record of mega-IPO clusters preceding equity tops is genuinely uncomfortable to look at (Alibaba 2014, Facebook 2012, etc) The pattern keeps repeating even when the explanation differs each time.
So the trade I'm watching people execute is: sell crypto at the deepest fear reading in the asset class' history, locking in a real loss. Buy AI stocks at ATH, into the largest IPO mania of our lifetimes. Then sit there 6-12 months from now when the IPO bid disappears and AI multiples compress, having locked in losses on the asset about to bounce and bought the asset about to roll over. That's not one, but two bad trades combined into a single decision.
Buying AI stocks at these levels right now is essentially the same trade as buying BTC at $125k back in late 2025 - when every headline was screaming "new ATH, this time it's different, generational opportunity." We all remember how that worked out and the same headlines are running right now with different tickers.
Could crypto go lower from here? Absolutely. Could BTC tap $55-58k before it turns? Sure. But we are sitting at the deepest, longest extreme fear reading the asset class has ever produced, with a historical pattern that says every comparable moment in crypto history has been a bottom. Meanwhile the asset class everyone is rotating INTO sits at all-time highs, mid-mania, with structural reasons to expect the marginal bid to disappear over the next few quarters.
And for anyone who cannot fight the urge to get AI exposure right now: you don't actually have to sell your crypto to do it. Utilize paltforms like Nexo and Ledn, they let you borrow stablecoins or fiat against your existing crypto holdings. You get the cash to put into whatever AI play you're chasing, your crypto position stays on the table, and you're not realizing the loss. If AI keeps ripping - great, you participated. If the bubble pops - you still own your bags and pay the loan back when the cycle turns. Obviously there's liquidation risk if crypto craters further from here, so don't max out the LTV, but it's a fundamentally different decision than the outright sell.
Selling now doesn't just lock in your current losses, it funds the next set of losses you'll take buying the top of the bubble next door. Every dollar that left crypto in late 2018 missed the run that followed within months. Same with every dollar that left in late 2022 - it missed the ETF rally that came shortly after. The pattern doesn't break just because this drawdown lasted longer than the last one. Don't sell into the deepest fear in the index's measured history to chase the loudest bubble of the decade.

Whi sells their BTC?

Also gives you the option to invest in BTC through tax sheltered accounts like Roth IRAs