Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed! by techwizardry

View this thread on: hive.blog | peakd.com | ecency.com

bitcoin · @techwizardry · Aug 19 '18

$3.32

Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!

This is probably the most clear example of what manipulation looks like on BTC. As the price got near the trend-line support that has been building over the weekend, a trader on Bitfinex with deep pockets started shorting aggressively to try and tank the price under $6300. About 2000 BTC in shorts were opened in about 10 minutes:

![btc-margin.png](https://cdn.steemitimages.com/DQmcNvsi167J3Gwsk3nYsU4uHJwS1KYDQrtSeLP1vwQmrkn/btc-margin.png)

Here is the support trend-line on the 1-hour chart:

![bitcoin-support.png](https://cdn.steemitimages.com/DQmXwyhZ89M3TiEfW8UmBQ6KJqiawT8W3wZkWmwEsswYcd8/bitcoin-support.png)

I'm almost certain the intent here was to cause a flash-crash, but the attempt failed as you can see. This could very well be the same entity that opened a shit-load of shorts last week <a href="https://steemit.com/bitcoin/@techwizardry/we-might-be-close-to-another-massive-short-squeeze-on-btc">near the bottom @ $6000</a>. 

There is someone out there with very large short position, that is down a lot of $$$ since price bottomed out last week. 


Is the market primed for another short-squeeze?

👍 acidyo, demotruk, crypto2crypto, minnowsupport, aussieninja, scorer, cryptoeagle, rollthedice, gobbo, rolld20, rolltwodice, coinbros, cryptowiesiek, kraftymax, cryptorevz, laurielias, pennynickel, cdelastella, kadhir, poshare, titanshift, desgrippes, strict-ix, cryptolaidlaw, cryptocroney, restbot

`author`	techwizardry
`permlink`	some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin","cryptocurrency","trading","crypto"],"image":["https://cdn.steemitimages.com/DQmcNvsi167J3Gwsk3nYsU4uHJwS1KYDQrtSeLP1vwQmrkn/btc-margin.png","https://cdn.steemitimages.com/DQmXwyhZ89M3TiEfW8UmBQ6KJqiawT8W3wZkWmwEsswYcd8/bitcoin-support.png"],"links":["https://steemit.com/bitcoin/@techwizardry/we-might-be-close-to-another-massive-short-squeeze-on-btc"],"app":"steemit/0.1","format":"markdown"}
`created`	2018-08-19 22:40:21
`last_update`	2018-08-19 22:40:21
`depth`	0
`children`	13
`last_payout`	2018-08-26 22:40:21
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	2.530 HBD
`curator_payout_value`	0.787 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	1,120
`author_reputation`	32,427,623,326,884
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,740,804
`net_rshares`	2,488,441,991,215
`author_curate_reward`	""

properties (23)vote details (26)

voter	rshares	pct
acidyo	1,708,251,013,661	15%
demotruk	412,865,456,388	100%
crypto2crypto	206,187,268,936	10%
minnowsupport	47,222,999,388	0.9%
kadhir	607,793,410	100%
titanshift	203,481,312	100%
cryptowiesiek	610,908,616	100%
cryptoeagle	8,362,007,725	30%
scorer	40,991,869,140	100%
aussieninja	42,909,764,880	100%
strict-ix	202,741,034	100%
laurielias	608,875,988	100%
kraftymax	610,354,887	100%
cryptorevz	610,351,210	100%
rollthedice	3,774,866,627	100%
desgrippes	202,781,678	100%
rolltwodice	3,493,322,169	100%
gobbo	3,538,847,724	100%
rolld20	3,505,216,685	100%
cdelastella	607,894,755	100%
restbot	61,012,332	10%
coinbros	1,609,426,810	100%
cryptolaidlaw	130,601,241	100%
poshare	542,995,349	100%
cryptocroney	121,996,796	100%
pennynickel	608,142,474	100%

@alchemy20 · Aug 20 '18

Likely trader is Bitfinex themselves. Another chance to shuffle in some more fiat Tether. Hopefully regulations will include prison time for this nest of pedophiles.

👍 techwizardry

`author`	alchemy20
`permlink`	re-techwizardry-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180820t005144275z
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin"],"app":"steemit/0.1"}
`created`	2018-08-20 00:51:48
`last_update`	2018-08-20 00:51:48
`depth`	1
`children`	2
`last_payout`	2018-08-27 00:51:48
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	165
`author_reputation`	196,641,151,415
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,749,355
`net_rshares`	12,072,245,762
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
techwizardry	0 B		12,072,245,762	100%

@techwizardry · Aug 20 '18

It very could be Bitfinex trading against its own clients and running stops.

👍 pixelfan, mys, alchemy20

`author`	techwizardry
`permlink`	re-alchemy20-re-techwizardry-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180820t033948255z
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin"],"app":"steemit/0.1"}
`created`	2018-08-20 03:39:45
`last_update`	2018-08-20 03:39:45
`depth`	2
`children`	1
`last_payout`	2018-08-27 03:39:45
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	76
`author_reputation`	32,427,623,326,884
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,760,804
`net_rshares`	2,485,597,386
`author_curate_reward`	""

properties (23)vote details (3)

voter	rshares	pct
alchemy20	126,168,932	100%
mys	596,042,555	0.5%
pixelfan	1,763,385,899	0.65%

@alchemy20 · Aug 21 '18

Seems Team Bitfinex Tether are at it again.

properties (22)

`author`	alchemy20
`permlink`	re-techwizardry-re-alchemy20-re-techwizardry-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180821t060528848z
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin"],"app":"steemit/0.1"}
`created`	2018-08-21 06:05:30
`last_update`	2018-08-21 06:05:30
`depth`	3
`children`	0
`last_payout`	2018-08-28 06:05:30
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	43
`author_reputation`	196,641,151,415
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,880,528
`net_rshares`	0

@anon9 · Aug 19 '18

You are going absolutly right way on steemit.
Carry on. Thanks for share with us.
I need more learn

properties (22)

`author`	anon9
`permlink`	re-techwizardry-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180819t230203312z
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin"],"app":"steemit/0.1"}
`created`	2018-08-19 23:02:03
`last_update`	2018-08-19 23:02:03
`depth`	1
`children`	0
`last_payout`	2018-08-26 23:02:03
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	99
`author_reputation`	260,282,078,832
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,742,299
`net_rshares`	0

@aussieninja · Aug 20 '18 (edited)

I've always struggled to understand how people make money on shorting a stock/coin.  Would the whale make money because he's taken out a futures option and/or bet that the price would be say, $5800 on a certain date?

Does the price go down just because they dump a ton of supply on the market?

Has this whale now sold 2000BTC for really cheaply?  Do they now have to buy it back at a higher price in order to try again?

👍 techwizardry, tropoz

`author`	aussieninja
`permlink`	re-techwizardry-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180820t002350011z
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin"],"app":"steemit/0.1"}
`created`	2018-08-20 00:22:36
`last_update`	2018-08-20 00:23:39
`depth`	1
`children`	2
`last_payout`	2018-08-27 00:22:36
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	421
`author_reputation`	116,326,708,897,195
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,747,535
`net_rshares`	12,792,182,334
`author_curate_reward`	""

properties (23)vote details (2)

voter	weight	wgt%	rshares	pct	time
techwizardry	0 B		12,196,701,904	100%
tropoz	0 B		595,480,430	100%

@techwizardry · Aug 20 '18

<blockquote>Does the price go down just because they dump a ton of supply on the market?</blockquote>

Usually a big trader will enter the position, and then dump a bunch of coins on the market to get the momentum going in his desired direction.

<blockquote>Do they now have to buy it back at a higher price in order to try again?</blockquote>

Depends on how much margin they have: the bigger the margin, the bigger losses they can sustain before the exchange forces the position to close.

👍 pixelfan, mys

`author`	techwizardry
`permlink`	re-aussieninja-re-techwizardry-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180820t002808996z
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin"],"app":"steemit/0.1"}
`created`	2018-08-20 00:28:06
`last_update`	2018-08-20 00:28:06
`depth`	2
`children`	1
`last_payout`	2018-08-27 00:28:06
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	491
`author_reputation`	32,427,623,326,884
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,747,882
`net_rshares`	2,359,428,454
`author_curate_reward`	""

properties (23)vote details (2)

voter	weight	wgt%	rshares	pct	time
mys	0 B		596,042,555	0.5%
pixelfan	0 B		1,763,385,899	0.65%

@aussieninja · Aug 20 '18

Thanks heaps for that!

properties (22)

`author`	aussieninja
`permlink`	re-techwizardry-re-aussieninja-re-techwizardry-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180820t133420015z
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin"],"app":"steemit/0.1"}
`created`	2018-08-20 13:34:15
`last_update`	2018-08-20 13:34:15
`depth`	3
`children`	0
`last_payout`	2018-08-27 13:34:15
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	22
`author_reputation`	116,326,708,897,195
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,804,766
`net_rshares`	0

@crypto2crypto · Aug 20 '18

$2.36

Been watching this develop for a while. He is screwed unless he gets some help.

👍 crypto2crypto, techwizardry, gudneh, sergino

`author`	crypto2crypto
`permlink`	re-techwizardry-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180820t001411859z
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin"],"app":"steemit/0.1"}
`created`	2018-08-20 00:14:12
`last_update`	2018-08-20 00:14:12
`depth`	1
`children`	0
`last_payout`	2018-08-27 00:14:12
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	1.807 HBD
`curator_payout_value`	0.553 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	79
`author_reputation`	19,532,385,308,440
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,747,022
`net_rshares`	1,768,115,874,854
`author_curate_reward`	""

properties (23)vote details (4)

voter	rshares	pct
techwizardry	12,445,614,187	100%
crypto2crypto	1,754,807,646,216	100%
sergino	251,359,079	1%
gudneh	611,255,372	100%

@lucylin · Aug 20 '18

>There is someone out there with very large short position, that is down a lot of $$$ since price bottomed out last week.

...unless it's the banks..Then they can just keep printing money to cover their losses..
...and its the central banking system that want's to see BTC tank, no one else..(I think so, anyway)

👍 techwizardry

`author`	lucylin
`permlink`	re-techwizardry-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180820t020048675z
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin"],"app":"steemit/0.1"}
`created`	2018-08-20 02:00:51
`last_update`	2018-08-20 02:00:51
`depth`	1
`children`	0
`last_payout`	2018-08-27 02:00:51
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	312
`author_reputation`	185,811,362,824,733
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,754,126
`net_rshares`	11,823,333,478
`author_curate_reward`	""

properties (23)vote details (1)

voter	weight	wgt%	rshares	pct	time
techwizardry	0 B		11,823,333,478	100%

@luxsheng · Aug 20 '18

no vol... so bearish short and mid term

👍 techwizardry, luxsheng

`author`	luxsheng
`permlink`	re-techwizardry-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180820t021132814z
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin"],"app":"steemit/0.1"}
`created`	2018-08-20 02:11:33
`last_update`	2018-08-20 02:11:33
`depth`	1
`children`	0
`last_payout`	2018-08-27 02:11:33
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	39
`author_reputation`	982,936,422,906
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,754,916
`net_rshares`	12,081,470,520
`author_curate_reward`	""

properties (23)vote details (2)

voter	weight	wgt%	rshares	pct	time
techwizardry	0 B		11,574,421,194	100%
luxsheng	0 B		507,049,326	100%

@minnowsupport · Aug 19 '18

<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by Spectator11 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows.  Please find us at the <a href="https://discord.gg/HYj4yvw"> Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p> <p>If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=102530.639667%20VESTS">50SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=205303.639667%20VESTS">100SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=514303.639667%20VESTS">250SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=1025303.639667%20VESTS">500SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=2053030.639667%20VESTS">1000SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=10253030.639667%20VESTS">5000SP</a>. <br><strong>Be sure to leave at least 50SP undelegated on your account.</strong></p>

properties (22)

`author`	minnowsupport
`permlink`	re-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180819t230348z
`category`	bitcoin
`json_metadata`	"{"app": "beem/0.19.50"}"
`created`	2018-08-19 23:03:48
`last_update`	2018-08-19 23:03:48
`depth`	1
`children`	0
`last_payout`	2018-08-26 23:03:48
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	1,694
`author_reputation`	148,902,805,319,183
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,742,420
`net_rshares`	0

@poshare · Aug 19 '18

Rather useful information, thanks for sharing that. Certainly follow you. I try to post useful content too, will be glad to see you among my followers.

properties (22)

`author`	poshare
`permlink`	re-techwizardry-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180819t224813630z
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin"],"app":"steemit/0.1"}
`created`	2018-08-19 22:48:15
`last_update`	2018-08-19 22:48:15
`depth`	1
`children`	0
`last_payout`	2018-08-26 22:48:15
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	151
`author_reputation`	66,359,053,153
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,741,328
`net_rshares`	0

@rhyscn · Aug 20 '18

Ouch, no sympathy from me however!

👍 techwizardry, tropoz

`author`	rhyscn
`permlink`	re-techwizardry-some-whale-on-bitfinex-just-tried-to-break-the-price-lower-with-a-big-margin-short-and-failed-20180820t003843373z
`category`	bitcoin
`json_metadata`	{"tags":["bitcoin"],"app":"steemit/0.1"}
`created`	2018-08-20 00:38:48
`last_update`	2018-08-20 00:38:48
`depth`	1
`children`	0
`last_payout`	2018-08-27 00:38:48
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	0.000 HBD
`curator_payout_value`	0.000 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	34
`author_reputation`	590,300,769,412
`root_title`	"Some whale on Bitfinex just tried to break the price lower with a big margin short, and failed!"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	68,748,559
`net_rshares`	12,928,791,137
`author_curate_reward`	""

properties (23)vote details (2)

voter	weight	wgt%	rshares	pct	time
techwizardry	0 B		12,321,158,045	100%
tropoz	0 B		607,633,092	100%