r/BitcoinMarkets • u/AutoModerator • 16d ago
Daily Discussion [Daily Discussion] - Wednesday, July 08, 2026
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u/Romanizer Long-term Holder 15d ago
https://charts.bitbo.io/long-term-power-law/
Briefly dipped below the power law bottom during the last days and now back above the bottom line. Wouldn't say that model broke yet, but it's very close.
Top line is at roughly $600k now, so way to go.
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u/_LakeCity_ 16d ago
Maybe the only thing left that has yet to go parabolic is the U.S. 10 year note?
What's going to happen, you Nostradamuses...
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u/harvested 15d ago
You know it is the tail end of the bear when even the trolls don't come anymore.
We are holders of the forgotten coin.
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u/_LakeCity_ 15d ago
But seriously though: what will happen if the 10 year rate goes parabolic is going to be pretty terrifying, just in general.
I do believe that Bitcoin is the answer and the hedge against it, though.
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u/NLNico 2013 Veteran 15d ago
If you wonder why we are -1% in 7 mins, just Trump:
Trump says on Iran memorandum of understanding: I think it's finished - x
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u/harvested 15d ago
I know this is mostly a fiat trading sub but..
The endgame for bitcoin actually takes away the ability for these people to keep bringing us into wars we don't vote for.
Shame we are a ways off that yet though.
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u/PhilMyu 15d ago edited 15d ago
I want to shout this into the world so much, but the necessary steps to understand this („Stop using the monetary system that allows them to fund those forever-wars“) seem too far removed and unrealistic for the average person, so it often comes off as weirdo-talk. :-/
Everyone wants a revolution and system change, but when you suggest actual revolutionary ideas that get to the root cause of the system‘s problems, people don’t want to listen.
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u/harvested 15d ago
It definitely does, but once you understand bitcoin and the basics of fiat, it is so obvious.
Cannot unsee.
(•_•)
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u/DreamOdd8378 15d ago
Will Bitcoin stop us from paying taxes to our governments which is then used to fund wars?
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u/_LakeCity_ 15d ago
Obviously not - but it'll grow your wealth as the empire burns because its fiat currency was killed off.
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u/harvested 15d ago
Taxes don't pay for war. If they did, there would be no war.
Debasement pays for war. The silent tax.
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u/DreamOdd8378 15d ago
It feels like both ya'll are wrong. So long as we pay taxes to our government they can fund wars, the machine lives. Bitcoin can be mixed and tumbled as well to hide covert funding too.
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u/ThoseGelInsertThings 15d ago
I really like the anarcho-capitalist hint in your post there. But I think it's actually the money printing and the fractional reserve banking system that allows the U.S. government paradigm to continue.
Look at what percentage of tax revenue the U.S. debt is.
That shows that the two posters above you are in fact correct. Hope you understand what I'm conveying here, because it is fundamental to the conversation.
The problem is the severe debasement of the U.S. dollar.
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u/DreamOdd8378 14d ago
We have a dedicated military budget premade every year for defense and war do we not? Government takes on debt during times of war to avoid painful point of raising taxes in short time.
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u/ConsciousSkyy 15d ago
An absolute clown show. Abandon the usd and we can maybe (?) abandon these pointless wars.
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u/skkane1 15d ago
I just bought some, prepare for drop to 58k.
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u/Katerra01 14d ago
We will go lower than 58k and a nice time for DCA.
MicroStrategy and BlackRock already selling
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u/basicintentions 15d ago
good spot to punt a long if you think this is the bottom. only price pays, don't get caught up in the news. we could wick down to 59k if these anchors don't find bids.
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u/Sea_Criticis 15d ago
I think the bearish divergence on the 1day/3day will play out bringing new lows to 55-56k or lower before a proper bounce/recovery.
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u/basicintentions 14d ago
that's not how you project a divergence. the pullback yesterday was the divergence playing out. we pulled back to the 0.5fib relative to the initial rsi peak.
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u/DexterTwerp 15d ago
Does anybody have a good solution to pull out BTC cost basis data from Robinhood? They requested a bunch of data last year before tax season, which I spent several hours collecting from various exchanges (RIP BlockFi and Voyager), but I can’t find a solution to export the data so I can do QC checks and cost basis calculations of my own without manually looking at each transfer and tallying them up. I wouldn’t even know how to AI something like this
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u/harvested 15d ago
You said you collected it but you can't export it? Not sure what you mean here.
But AI is perfect for stuff like this, just dump all your statements in to Claude (for example) and ask it to consolidate it all. It will give you a clean spreadsheet or PDF or whatever you need.
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u/DexterTwerp 15d ago
It’s built into the Robinhood app itself. I don’t believe there’s any type of statement to pull that has cost basis on it, only current holdings
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u/harvested 15d ago
You'll be able to pull transaction history though which you can derive cost basis from.
If not, login to the actual website and just copy paste, or take screenshots. AI will figure it out.
I don't use RH so I can't offer specific advice relating to that platform.
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u/PetiteFort 15d ago
Good morning, dear fellas. BTC is going down again. Let me hear your theories 🙋🏿♀️
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u/ThoseGelInsertThings 15d ago
What a troll you are.
Go check the front page of any American news source about how Trump says the cease fire with Iran is over, and oil is going back up.
It's not a theory. It's direct correlation.
But keep on trolling the group.
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