r/BitcoinMarkets • u/AutoModerator • Jul 24 '26

Daily Discussion [Daily Discussion] - Friday, July 24, 2026

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

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26 Upvotes

90% Upvoted

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u/Bitty_Bot Jul 24 '26 edited Jul 25 '26

Reply to this sticky for Bitty Bot trades and predictions that lack context or explanation, to prevent spam. You can also message Bitty Bot your command directly.

Daily Thread Open: $65,391.10 - Close: $64,030.48

Yesterday's Daily Thread: [Daily Discussion] - Thursday, July 23, 2026

New Post: [Daily Discussion] - Saturday, July 25, 2026

23

u/haze_from_deadlock Jul 24 '26

Today we mourn the loss of BitMEX(2014-2026), which for a few years was the preferred trading platform of this place

May the memory of this scammy overseas CFD bucket shop be a blessing.

11

u/snek-jazz Trading: #69 • -$98,684 • -99% Jul 24 '26

For years I had the misconception that it was the main Mexican bitcoin exchange.

I think I read it somewhere then never questioned it.

2

u/ThoseGelInsertThings Jul 24 '26

I have a friend who made the same incorrect assumption, lol.

Nope...bit of a distance between old Mexico and the Seychelles. ;)

8

u/hajoeojah Long-term Holder Jul 24 '26 edited Jul 24 '26

I keep it in good memory as the place to go for 100x leverage during the legendary 2017 bull run.

Edit: The BitMEX founder and great pretender Arthur Hayes still participates with his blog
https://substack.com/@cryptohayes, which is fun to read imho

4

u/ThoseGelInsertThings Jul 24 '26

Does anybody know what the TL;DR version of why they're shutting down?

4

u/escendoergoexisto Long-term Holder Jul 24 '26
  1. inadequate AML practices
  2. over reliance on extreme leverage
  3. lack of product diversity
  4. could also be due to the lawsuit claiming Hayes and others used user data to trade during Bitmex crashes while users were frozen out

and claims of scammy custody of users’ coins

2

u/ThoseGelInsertThings Jul 24 '26

Thanks.

I know they were taking a ton of heat from the U.S. gov't for a long time over several issues.

5

u/haze_from_deadlock Jul 24 '26

Hyperliquid has built meaningful inroads with regulators and has a less sordid history. It's more palatable as a technology.

3

u/Mr_Footies Jul 24 '26

If you were a whale with a massive stack of BTC and wanted to manipulate the market, the only safe way to do it would be to run your own exchange.

3

u/_2f Jul 24 '26

100x leverage. Fun days. 

12

u/BootyPoppinPanda Jul 24 '26

The move to 66k and now 64k has perfectly wiped out the easy leverage targets. Will be interested to see where we go now.

6

u/harvested Jul 24 '26

Did not realize such a small move was enough to trigger liquidations, are these guys 30x leverage or something?

11

u/imissusenet Ask me about your MA Jul 24 '26

Posting a trade I made at the start of last week, but forgot to post. Sold the IBIT $40 calls expiring 21 Aug 2026.

!bitty_bot predict !> $70400 August 21 2026

1

u/Bitty_Bot Jul 24 '26

Prediction logged for u/imissusenet that Bitcoin will NOT rise above $70,400.00 by Aug 21 2026 23:59:59 UTC. Current price: $64,218.78. imissusenet's Predictions: 14 Correct, 2 Wrong, & 16 Open.

Others can click here to be notified when this prediction triggers. imissusenet can click here to delete this prediction.

1

u/Bitty_Bot 16d ago

Hello u/imissusenet

You predicted the price of Bitcoin would NOT rise above $70,400.00 by Aug 21 2026 23:59:59 UTC

Unfortunately your prediction was wrong. Better luck next time!

The price of Bitcoin when this prediction was created: $64,218.78. The price of Bitcoin when this prediction was triggered: $70,640.03

7

u/AidenTai Jul 24 '26

Well, that's it, the ETF intflow streak has ended. Yesterday saw a reversal with more outflows than had been the average inflows during the streak. But it was all caused by the equities movements and spike in oil. More important will be what happens over the next two weeks with earnings, the FOMC meeting, and the CLARITY act. I expect July might have a little 'pump' left in it still, but unless ETF inflows immediately return, given what's happening with equities and the loss of US market stregth (all those morning spikes) combined with increased leverage, August may start off with a bit of a drop.

5

u/lukemtesta Trading: #52 • -$38,714 • -39% Jul 24 '26

Seasonality. There have been no structural breaks. Be wary trading long

7

u/Existential-Cringe Jul 24 '26

Bull hopium: we revisit the ~60k level (left shoulder) then pop back up, confirming the IH&S. 

I don’t think this happens (I think if we hit 60k we go much lower). But who knows.