Who Really Sets The Price of Bitcoin?
Who Really Sets The Price of Bitcoin?
Most investors believe Bitcoin’s price is determined by supply and demand for Bitcoin itself.
What if that is no longer entirely true?
Bitcoin was originally a spot-driven market.
People bought coins.
People sold coins.
Price was discovered through ownership changing hands.
Today, the market looks very different.
The question is no longer just: “Who owns Bitcoin?”
The more important question may be: “Who creates Bitcoin price discovery?”
Two Different Markets
Bitcoin now exists in two parallel worlds.
The Spot Market
This is where actual BTC changes ownership.
Participants include:
Spot ETFs
Treasury companies
Long-term holders
Institutions
Sovereign buyers
Retail investors buying and withdrawing coins
These participants care about one thing: ownership.
They want actual Bitcoin.
The Derivatives Market
This is where exposure changes hands.
Participants include:
Futures traders
Perpetual traders
Options desks
Hedge funds
Market makers
Leveraged speculators
These participants care about something different: price exposure.
Not ownership.
And that distinction matters.
The Rise of Synthetic Bitcoin
Every futures contract.
Every perpetual contract.
Every option.
Creates additional exposure to Bitcoin without creating a single new coin.
No new BTC exists.
No new BTC is mined.
No BTC changes ownership.
Yet billions of dollars of new exposure can appear instantly.
This is often called “paper Bitcoin.”
Not because it is fake.
But because it represents a claim on price movement rather than ownership of the underlying asset.
A Growing Imbalance
What makes Bitcoin fascinating today is that two trends are happening simultaneously.
Trend #1: More Bitcoin is becoming illiquid
ETF holdings continue to grow.
Corporate treasuries continue to accumulate.
Long-term holders continue to remove coins from circulation.
Trend #2: Derivatives continue to expand
Open interest grows.
Options markets deepen.
Perpetual volumes increase.
Institutional trading activity rises.
In simple terms:
The amount of Bitcoin available for sale may be shrinking.
The amount of exposure built on top of Bitcoin may be expanding.
Those are very different dynamics.
Who Really Moves Price?
Short-term price action increasingly appears to be driven by derivatives.
Funding rates
Open interest
Liquidation cascades
Short squeezes
Gamma flows
Most violent Bitcoin moves today originate in leveraged positioning.
Not spot accumulation.
This helps explain why Bitcoin can move thousands of dollars within hours while very little actual Bitcoin changes ownership.
The derivatives market often determines the immediate move.
But Does It Determine The Trend?
That is where things become interesting.
Derivatives can influence price.
They cannot create scarcity.
A perpetual contract cannot manufacture Bitcoin.
A futures contract cannot increase supply.
An option cannot create new coins.
Only actual ownership affects the available supply of Bitcoin.
This raises an important possibility:
Perhaps derivatives determine price.
But spot determines trend.
The Structural Question
The most important question may not be whether paper Bitcoin exists.
It clearly does.
The more important question is:
What happens if synthetic exposure continues to grow faster than the supply of Bitcoin that is actually available for sale?
At some point, price discovery and scarcity may begin to diverge.
And financial history suggests that when those two forces drift apart for long enough, markets eventually force them back together.
Final Thought
Most investors spend their time debating:
ETF inflows
Halvings
Support levels
Resistance levels
Far fewer ask a deeper question:
Who actually sets the price of Bitcoin?
Because the future of Bitcoin may depend less on how many coins exist…
and more on whether price is being driven by ownership or exposure.
Derivatives can influence price.
They cannot create scarcity.
And scarcity is ultimately what Bitcoin was designed around.
ETF
BTC ETF Flows: The Signal Most Traders Ignore[BTC ETF Flows: The Signal Most Traders Ignore
Many Bitcoin traders focus only on price action.
They watch support, resistance, breakouts, moving averages, and momentum. All of that matters, but there is one important thing many traders still ignore:
ETF flows.
Bitcoin does not move only because of chart patterns. It also moves because of real demand. When large amounts of money enter spot Bitcoin ETFs, it can show that institutional demand is supporting the market. When money leaves those ETFs, it can show that big investors are becoming more cautious.
This does not mean ETF flows are a perfect buy or sell signal.
They are not.
But they can help us understand whether a Bitcoin move has real demand behind it or whether price is only moving because of short-term hype, leverage, or emotion.
Why ETF flows matter
If BTC is bouncing from support while ETF inflows are strong, that bounce may have better backing.
But if BTC is bouncing while ETF flows are weak or negative, I become more careful. The chart may look like it is recovering, but the demand side may not be strong enough yet.
That is where many traders get trapped.
They see a green candle and think the trend is back.
But a single candle is not demand.
Real demand usually needs follow-through.
How I use ETF flows
I do not use ETF flows alone.
I combine them with price structure.
For example, I ask:
1. Is BTC holding an important support zone?
2. Is price making higher lows or still making lower highs?
3. Are ETF flows supporting the move?
4. Is spot demand improving?
5. Is leverage too high?
6. Is the risk/reward still logical?
If price is rising but ETF demand is weak, I do not treat the move as fully confirmed.
If price is rising and ETF flows are improving, then the recovery has more credibility.
Simple lesson
Price action tells us what is happening on the chart.
ETF flows can help us understand whether real capital is supporting that move.
A healthy Bitcoin rally usually needs more than hype. It needs demand, structure, and follow-through.
That is why I prefer watching both:
Price structure + ETF flows
Not one without the other.
The main takeaway is simple:
Do not chase BTC only because it is bouncing.
Check whether the move is supported by real demand.
A strong chart with weak demand can still fail.
A strong chart with improving demand becomes more interesting.
Do you check Bitcoin ETF flows before trading BTC, or do you only focus on the chart?
Share your view below. I think this is one signal many traders ignore until the market teaches them the hard way.
Long Dimon, Short Corn: $XLF vs. $BTC🏛️🏛️🏛️🏛️🏛️
🌽🌽🌽🌽🌽
Banks make profits
Banks can innovate and adopt new technologies
Bitcoin core devs can't.
Goal: Capture the capital flight from the meme of decentralised money and the central bank disruptor, back to the money centers of the US empire.
I believe a retest of December 2017 is on deck.
#XLF #BTC #Bitcoin #Corn #MacroTrade
SOXX | May, 2026 | Continued stock growth- Exchange: Bitget TradFi
- Instrument: CRYPTO:SOXXONUSD
- Timeframe: Weekly
- Trade type: Buy stop order
- Price: 534.06
- Take Profit: Open
- Stop Loss: 498.55 (-6.60 %)
Idea: Long on a breakout above last week's high — bullish momentum continuation.
Entry: Buy stop above last week’s high.
Stop-loss: Below the low of the same candle.
If the weekly candle closes below this level, the trade is invalidated.
Take Profit: Trailing stop following the lows of new weekly candles.
👉 Bitget TradFi | 200+ U.S. stocks | 0% trading fees
Bitcoin Tests Key $65,000 Support as Oversold Conditions Hint atBitcoin is approaching a critical technical level near $65,000, a zone that traders are watching closely after months of persistent selling pressure pushed the cryptocurrency sharply lower from its October 2025 peak. The digital asset is currently trading about 47% below its all-time high of $126,200, raising questions about whether the recent decline is nearing exhaustion.
The $65,000 area has emerged as an important support zone on longer-term charts. Support levels are price areas where buying interest has historically been strong enough to slow or reverse declines. While there is no guarantee the level will hold, market participants are increasingly focused on whether Bitcoin can stabilize around this region.
Technical indicators suggest selling momentum may be losing strength. Bitcoin's Relative Strength Index (RSI), a widely followed measure of market momentum, has fallen to 20.65. Readings below 30 are generally considered oversold, indicating that selling activity may have become stretched and that the pace of declines could begin to slow.
That does not necessarily mean a rally is imminent. Markets can remain oversold for extended periods during strong downtrends. However, historically, deeply oversold conditions have often coincided with periods when aggressive selling starts to ease and buyers gradually return.
The current setup has attracted attention because Bitcoin is testing support while momentum indicators sit at extreme levels. If buyers defend the $65,000 zone, the market could see a relief bounce as short sellers take profits and sidelined investors step back into the market. A successful hold could also improve sentiment after months of weakness.
On the other hand, a decisive break below support would likely increase concerns that the correction has further to run. Traders will be looking for confirmation through price action and trading volume before drawing conclusions about the next major trend.
What to Watch Next
Support Levels
The $65,000 region remains the most important level to monitor. Whether Bitcoin holds or breaks below this area could shape market direction in the coming weeks.
ETF Flows
Investors will also be watching spot Bitcoin ETF flows. Renewed inflows could signal improving institutional demand, while continued outflows may keep pressure on prices.
Macro Developments
Broader economic conditions remain another key variable. Interest rate expectations, inflation data, and overall risk sentiment across financial markets could influence investor appetite for cryptocurrencies.
For now, Bitcoin sits at a technically important crossroads. With prices deeply below their record highs and momentum indicators in oversold territory, traders are looking for signs that selling pressure is beginning to fade. Whether the $65,000 support zone can hold may determine the market's next move.
Give me 3 reasons not to be bullish on SolanaSolana’s Total Value Locked (TVL) expanded from $396M on Dec 26, 2022 to $8.69B by July 4, 2025, a 2,094% increase (~22x growth) across 80 weeks . This translates to a weekly geometric growth multiplier of ~1.089, or an 8.9% compound weekly rate .
This rapid TVL expansion reflects capital inflows, increased DeFi participation, and regained trust in Solana’s infrastructure following the FTX collapse.
————————————————
LST Ecosystem Expansion :
Liquid staking derivatives (JitoSOL, mSOL) accounted for a significant share of inflows, as yield-seeking capital returned with Ethereum-style primitives on Solana.
MEV Monetization & Compression Tech :
Validator-side MEV solutions and data compression (via Firedancer and ZK-state) improved scalability and trust in Solana’s low-latency environment.
Resurgence of DeFi-NFT Hybrids :
Protocols like Tensor and HadeSwap blurred lines between DeFi and NFTs, generating sticky liquidity and reinforcing Solana’s unique narrative.
Restored Institutional Confidence :
Post-FTX reforms and a more diversified validator ecosystem helped re-attract institutional capital, supported by enhanced wallet infra (e.g., Backpack, Phantom) and custodianship.
This pattern, paired with the geometric growth trend, suggests Solana’s DeFi ecosystem is entering a new structural bull phase, underpinned by both technical confirmation and fundamental evolution.
Anyways, let me know in the comments 3 reasons not to be bullish on Solana as we speak.
(PS: QC-resistant issues don’t apply only for Solana but for all major crypto assets!)
Nasdaq 100 Cash Market Scenario: U.S. Session, 1-Hour ChartThe index is currently forming a bullish ascending triangle; if the bulls manage to break out of it to the upside, the potential targets are marked by the green lines,
and if the market pushes the price below the lower side of the triangle, it will transform into a rectangle, and the ranges of such movements are shown by the red lines,
with support and resistance levels also traditionally marked on the chart
Przemyslaw Blachut
Bitcoin Holds the Line as Traders Watch for a BounceBitcoin is back testing the key $75,000 to $76,000 support zone for the third time in recent weeks, but this time the market feels different. Selling pressure has started to fade, and traders are seeing signs that the world’s largest cryptocurrency may finally be stabilizing instead of sliding lower.
Momentum indicators are also hinting at a slowdown in bearish pressure. Bitcoin’s RSI is sitting near 42.75, suggesting sellers are losing control after weeks of heavy volatility. That has encouraged some traders to look at the current range as a potential buying opportunity if support continues to hold.
The broader crypto market, however, remains stuck in a wait-and-see mode. Without a major catalyst, Bitcoin could continue moving sideways in the near term. Still, sentiment among large investors remains surprisingly strong. Analysts at Bernstein recently kept their bullish $150,000 Bitcoin target for the end of 2026, arguing that the current weakness looks mild compared to previous crypto corrections. For now, Bitcoin faces a critical test. A strong hold above support could trigger a relief rally.
The ETF Accumulation vs. The 1H Premium TrapHYPE is currently the undisputed king of institutional altcoin rotation, but if you are buying at $62.23 right now, you are executing with retail impatience.
The macro fundamentals are violently bullish. Spot HYPE ETFs recently absorbed $75 million in their first week, with legacy entities like Goldman Sachs and Grayscale aggressively accumulating. Furthermore, Coinbase just integrated as Hyperliquid's official USDC treasury deployer, injecting US Dollar yields directly into the protocol and flipping the spot CVD into pure accumulation.
But macro strength does not justify poor micro execution. Here is why you need to wait.
1. The 1H Premium Exhaustion 🌡️
We are currently floating at $62.23, placing us deep in the Smart Money Concepts (SMC) PREMIUM zone.
Volume is dead: We are running 80% below average ($157k vs $815k), signaling an absolute lack of institutional conviction at these elevated prices.
Momentum is fading: The MACD is printing clear bearish divergence, and the RSI is trending down at 45.8.
Institutions accumulate in discount zones; they distribute to impatient retail in the premium zones.
2. The Structural Magnets 🧲
Overhead, we have a massive Bearish Order Block (supply zone) capping the price between $62.90 and $64.80. Every attempt to push higher is being met with algorithmic selling.
Below us, the vacuum is waiting:
The FVG: There is an unfilled bullish Fair Value Gap resting exactly at $61.69 - $61.81.
The Dynamic Floor: The true macro support is the ascending trendline currently sitting at $57.89 (boasting an incredible 93.29 score with 31 structural touches dating back 224 bars).
📉 The Trade Plan & Triggers
Do not force a position in the middle of a weak-volume premium range. The risk-adjusted play is pure patience. Let the market come to you.
The Short (Rejection): Wait for a clean test and rejection at the $64.80 supply ceiling to short down to the $60.76 immediate support.
The Long (Reload): Let the price drop to fill the $61.69 FVG, or ideally, wait for a broader market pullback to test the $57.89 ascending trendline. That is your high-probability institutional reload zone.
Invalidation: A 4H close above $64.80 with a massive volume surge breaks the supply zone and kills the pullback thesis entirely.
Disclaimer: This analysis maps structural liquidity and order flow. Always wait for confirmation before executing and manage your risk strictly.
Trading or Gambling? Be Honest With Yourself.🎯 Trading or Gambling? Be Honest With Yourself.
Many people enter the market dreaming of quick money — but without a plan, discipline, or risk management, trading turns into gambling.
The difference is not the market.
The difference is YOU, your mindset, and your process.
📌 Gambling Mindset:
❌ Driven by emotions
❌ Random entries & exits
❌ No risk management
❌ Hope-based decisions
❌ Chasing quick profits
📌 Professional Trading Mindset:
✅ Knowledge & market understanding
✅ Planned entries and exits
✅ Risk management first, profits second
✅ Emotional discipline & patience
✅ Focus on consistency, not excitement
A professional trader understands one thing:
The market rewards discipline, probability, patience, and execution — not greed or emotions.
Every trade should answer these questions:
✔️ What is my setup?
✔️ What is my risk?
✔️ Where is my stop loss?
✔️ What is my target?
✔️ Does this align with my plan?
💡 Remember:
Gamblers chase excitement. Traders build consistency.
The goal is not to win one trade.
The goal is to become a disciplined, independent, and consistently profitable trader over time.
🔥 Question for you:
Are you trading with a strategy or simply taking chances? Comment below 👇
The Best Trades Usually Start With DoubtLet’s keep it real.
The best trades rarely feel obvious at the beginning.
In fact…
Most of them feel uncomfortable.
Why? 📉
Because when the opportunity is truly there:
• the breakout is not confirmed yet
• sentiment is still mixed
• fear is still present
That’s why the risk is good.
What most traders do
They wait for certainty.
More confirmation.
More candles.
More momentum.
But by the time everything looks obvious…
The move already happened.
And now the risk is worse.
The irony ⚖️
Good entries often feel uncomfortable.
Bad entries usually feel safe.
That’s the trap.
What smart traders understand 📊
The goal is not certainty.
The goal is favorable asymmetry.
Low risk.
High potential reward.
If a trade feels too obvious…
You’re probably not early anymore.
Do you usually enter when the market feels uncertain…
or when everyone already agrees?
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr
IWF | May, 2026 | Continued stock growth- Exchange: Bitget TradFi
- Instrument: CRYPTO:IWFONUSD
- Timeframe: Weekly
- Trade type: Buy stop order
- Price: 516.20
- Take Profit: Open
- Stop Loss: 483.72 (-6.60 %)
Idea: Long on a breakout above last week's high — bullish momentum continuation.
Entry: Buy stop above last week’s high.
Stop-loss: Below the low of the same candle.
If the weekly candle closes below this level, the trade is invalidated.
Take Profit: Trailing stop following the lows of new weekly candles.
👉 Bitget TradFi | 200+ U.S. stocks | 0% trading fees
May 3, 2026 IBIT. Continued stock growth.- Exchange: Bitget TradFi
- Instrument: IBITon
- Timeframe: Weekly
- Trade type: Buy stop order
- Price: 44.79
- Take Profit: Open
- Stop Loss: 42.44 (-5.25 %)
Idea: Long on a breakout above last week's high — bullish momentum continuation.
Entry: Buy stop above last week’s high.
Stop-loss: Below the low of the same candle. A pullback below this level invalidates the trade.
Take Profit: Trailing stop following the lows of new weekly candles.
This is not an individual investment recommendation.
A list of over 250 Bitget TradFi (stock tokens)
May 2, 2026 EWJ. Continued stock growth.- Exchange: Bitget TradFi
- Instrument: EWJon
- Timeframe: Weekly
- Trade type: Buy stop order
- Price: 89.30
- Take Profit: Open
- Stop Loss: 86.41 (-3.25 %)
Idea: Long on a breakout above last week's high — bullish momentum continuation.
Entry: Buy stop above last week’s high.
Stop-loss: Below the low of the same candle. A pullback below this level invalidates the trade.
Take Profit: Trailing stop following the lows of new weekly candles.
This is not an individual investment recommendation.
A list of over 250 Bitget TradFi (stock tokens)
May 2, 2026 PEP. Continued stock growth.- Exchange: Bitget TradFi
- Instrument: SLVon
- Timeframe: Weekly
- Trade type: Buy stop order
- Price: 69.65
- Take Profit: Open
- Stop Loss: 64.13 (-8.00 %)
Idea: Long on a breakout above last week's high — bullish momentum continuation.
Entry: Buy stop above last week’s high.
Stop-loss: Below the low of the same candle. A pullback below this level invalidates the trade.
Take Profit: Trailing stop following the lows of new weekly candles.
This is not an individual investment recommendation.
A list of over 250 Bitget TradFi (stock tokens)
April 30, 2026 SPY. Continued stock growth.- Exchange: Bitget TradFi
- Instrument: SPYon
- Timeframe: Weekly
- Trade type: Buy stop order
- Price: 714.47
- Take Profit: Open
- Stop Loss: 702.28 (-1.70 %)
Idea: Long on a breakout above last week's high — bullish momentum continuation.
Entry: Buy stop above last week’s high.
Stop-loss: Below the low of the same candle. A pullback below this level invalidates the trade.
Take Profit: Trailing stop following the lows of new weekly candles.
This is not an individual investment recommendation.
A list of over 250 Bitget TradFi (stock tokens)
SPY: The Case for $740 by Year-End - V-Shape Recovery !If you haven`t bought the dip on SPY:
Now SPY is currently trading at $701, and while sentiment remains fragile in the wake of the recent sell-off, the technical and macro setup is quietly building the case for a run toward $740 by year-end — a move of just 5.6% from current levels. That's not a bold call. That's almost boring, by historical standards. Here's why.
1. The Math Is Undemanding
Let's start with the simplest argument. $740 EOY from $701 today requires a 5.6% gain over roughly 8 months. You're not betting on euphoria. You're betting on regression to the mean in a market that overshot to the downside.
2. The V-Shape Is Technically Confirmed
3. A Fed Pivot Is Now a Question of When, Not If
The Hormuz crisis has created a paradox for the Fed: a supply-side inflationary shock coinciding with slowing demand. This is the worst environment for a hawkish stance. History suggests the Fed blinks when credit conditions tighten and growth risks spike simultaneously.
A rate cut — or even credible cut signaling — is rocket fuel for equity multiples. In a 22-23x P/E environment with rates moving lower, the earnings math for $740 writes itself.
4. Earnings Are More Resilient Than the Tape Suggests
The market sold off on fear, not on fundamental deterioration. Look beneath the surface:
Energy and Defense are printing record margins in the current geopolitical environment
Big Tech is still deploying AI capex aggressively — Microsoft, Google, Meta, Amazon have not blinked
Key Risks to the Thesis:
- Hormuz escalation beyond current pricing — a full closure for 60+ days would trigger a demand destruction spiral that overrides all the above
- Fed surprise hawkishness — if CPI re-accelerates, the pivot narrative dies and multiples compress
- Credit event — something breaks quietly in the plumbing (regional banks, CLOs, leveraged loans) and risk-off returns with vengeance
- Earnings miss — if Q2 reports show margin compression across sectors, the EPS math falls apart
$740 by year-end is not a moonshot. It's a 5.6% move in 8 months, supported by recovering technicals, a likely Fed pivot, resilient earnings, structural capital inflows, and the most favorable seasonal window of the year. The V-shape is real.
GGLL ETF = 2X GOOGL Trimming into Strength JournalJournal notes on the trade. Actual trims on chart.
04/14Strong breakout; MAGS strong day; EARNINGS APPROACHING
04/27- Took profits into strength over 4atr above the 21 day;
04/23 breaking above 110 HH- move stop;
04/28 SOLD 1/2 REMAINING DUE TO EARNINGS TOMORROW.
05/01 Trimmed 1/2 @137.14
05/20 Stopped
I was happy with this trade because I wanted the benefits of Googl, but I was seeking better than the market returns. Googl returned about 20% in this time period; SPY app 8.73%;
GGLL return in that time: 37%. I was able to capture a 20% due to the early gains.






















