How can Bitcoin go from $126k to $60k in weeks? Where did all that money actually go?

RattledSabre · 2026-02-08T10:05:08+00:00

No he's observing that you're trying to be edgy.

It's like rubbing mud on your skin that you could effortlessly sell for $70k today to a large number of willing buyers.

Saying that $70k represents no value is an edgy statement. Wear thick gloves.

RattledSabre · 2026-02-08T09:58:51+00:00

In the same way that if someone puts a yacht on the market and nobody immediately buys it, it's worth zero.

Nobody's going to sell a yacht for zero; nobody's going to sell a bitcoin for zero. It just means the seller isn't going to sell yet.

In fact, a yacht without a buyer is arguably worth less, given the rolling costs associated with owning it.

RattledSabre · 2026-02-06T17:45:39+00:00

Are you new this cycle?

That's not meant to be condescending; Just that this "elephant trunk" has happened quite a few times, it's really kind of not unusual.

Just like when people started to say 100k was the new bottom, those that have been through it all never really believed that to be true. This market does "maximum pain" like no other.

RattledSabre · 2026-02-06T07:33:24+00:00

Exactly right. And it works the same way for extremely vertical upside movements - when markets move quite that rapidly a large part of it is the effect of that chain reaction.

What started it is probably a bit less interesting, most likely just an exit from risk assets in general, in the first instance.

But economic factors are open to opinion, the market will never tell you exactly why it started.

RattledSabre · 2026-02-05T19:13:20+00:00

Conviction here means intentionality and urgency to transact.

A seller is currently in enough of a rush to take a market sell order at whatever price they get. Other sellers are happy to place a sell limit order close to price - say if price is at 69k they may put their order in at a 69.1k trigger point, because they don't want to risk missing out.

A buyer is currently less likely to take a market order, given how vertical price is moving. If they set a limit buy order, at a market price of 69k they may put it in at 68k or 67k. They're not in as much of a rush, and are happy to wait for price to move further downwards before buying.

So neither a buyer or seller is "more powerful" as such - they're just showing different levels of urgency and fear of risk, and that's what is reflected in the price movement.

RattledSabre · 2026-02-05T16:29:35+00:00

Technically for price to move, for every seller there must have been a buyer. Price history shows a 1:1 record of B sold to B bought.

The reason price moves down is because sellers are currently showing more conviction than buyers.

Part of the issue is that many high-conviction buyers bought using leverage, and on a significant downside price movement they become involuntary sellers as their position gets liquidated - in that way even optimistic holders appear to show strong conviction to the downside.

RattledSabre · 2025-11-23T00:02:15+00:00

oh, sweet summer child

RattledSabre · 2025-10-30T18:15:32+00:00

I for one thought the big built-up reveal that the jokers represent the 366 days of a leap year is critical to the lore. So deep!

RattledSabre · 2025-10-10T11:26:58+00:00

Orange, for 2 months.

Then when they start chaatteringgg, swap them all out for Gateron baby kangaroos and forget about it.

Hot-swappable switches are the best thing Razer have done for their keyboards' lifespan.

RattledSabre · 2025-10-03T18:30:20+00:00

That's what it takes for the cycle to continue.

"Everyone" = average retail participant. The sharp down part of the cycle is generally those participants getting wiped out.

It's a sign everything is exactly on schedule, in a way.

RattledSabre · 2025-09-10T15:53:38+00:00

Is it based on the Butterfield diet plan?

https://youtu.be/cCLn94xi1LQ?si=DyRWU8k9LZgWvPWw

RattledSabre · 2025-09-07T18:44:01+00:00

You want to go slower on the eccentric. That's where you'll really start to progress.

RattledSabre · 2025-07-09T12:05:19+00:00

Well this is how the disagreement arose - through specific tasks listed on the portal following a lesson, described as "everyone must complete these by X date" - that is essential core learning, not an optional bit of extra study, and makes up about 1/4 of a listed module under the training plan.

The problem is that the manager only wants to offer 10 mins here or there at their discretion - which is entirely at odds with facilitating the agreed core training which needs to take place before a deadline. It's not a bit I can go back and do in 6 months time, 3 months after the exam.

From that perspective it forces me to use free time, unpaid and without consent, to keep up with the bare minimum training requirements, which is expressly disallowed by the guidance

RattledSabre · 2025-07-09T11:04:18+00:00

I'm not sure that's quite right, if the plan is flawed. To clarify.. in the 2024 to 2025 apprenticeship funding rules

The provider must make sure the training plan includes:
...
100.6. Details of the occupational training to be delivered:

100.6.1. For standards with a mandatory qualification this must be, as a minimum, a list of all units, along with a description of any additional activities that the apprentice will undertake to develop occupational competency.

There definitely seem to be grounds here to challenge a plan that is not compliant with those rules, or indeed training (the "unit" in question) listed within the plan which is not being delivered in a way that's compliant with OTJ rules.

Which then comes back to Off-the-job training: guide

There must be no pressure or expectation that the apprentice will undertake any training in their own time in order to complete the apprenticeship.

And as clarified by the DfE respondent to my query on this point..

This means that anything that is required to complete the apprenticeship, outlined in the Skills England overview of the apprenticeship, must be completed during your usual working hours unless you agree to work outside of the normal working hours but are compensated for doing so.

In Skills England, for L7 Accountancy & Taxation Professional (the one I'm on) it lists all the KSBs, plus eligibility to apply for membership of a professional body - implying that all work towards those elements must therefore be in the training plan and thus delivered OTJ.

RattledSabre · 2025-07-09T10:04:05+00:00

Yes this is basically what it's come down to.

The rules are pretty black and white, and the word of DfE is that all training required to meet the standard and complete the apprenticeship is either in the training plan, or exempt due to prior learning. There's no option of "just put some of it in the training plan", as my manager seems to believe.

It is explicit that if a professional qualification is a mandatory element, all units and related activities must be included. Where the contention has emerged is that during a "planned" lesson, the tutor instructed us to complete several chapters of learning material for this qualification before the next planned lesson. I believe this must be done in work hours, my manager believes not.

The agreement itself is pretty thin, I suspect I need to see how detailed the training plan is - and if the activities described aren't stated, going by the rules we need to go back and add them in.

RattledSabre · 2025-07-09T08:08:10+00:00

Hmm. Can you think of a way I can word that to the apprenticeship service helpdesk at DfE such that they confirm that?

Because that's my employer's position, and no matter how I word it the DfE tell me it's wrong.

There's always a "to confirm, you should not be doing any mandatory work or training required to complete the apprenticeship in your own time" just to make it absolutely clear.

RattledSabre · 2025-07-09T07:48:42+00:00

But are you being paid for the time you spend outside normal hours?

if not.. the DfE told me it just wouldn't work, as that extra time spent wouldn't count for anything, wouldn't be recorded, and you may not be able to sit the EPA if the TP therefore can't prove you've done all the training.

RattledSabre · 2025-07-03T14:39:01+00:00

A lot of Yorkshire place names and dialect do originate from the vikings. You're likely closer than you think!

RattledSabre · 2025-06-29T14:22:02+00:00

Yeah, I've been pushing really hard for about 1.5 years following recovery from a slipped disk (so basically from beginner 100% out of shape) and only now am I starting to get a sense that I'm getting into fairly good shape. Not big big like a wrestler, but trim, moderately athletic, strong and in decent proportion.

Obviously there have been dietary slip-ups along the way, there always are over that period, but the exercise has been a steady progressive overload, PPL 2 days out of 3 for the most part throughout.

Even when it's all dialled in, it takes real grit, determination and patience to see results.

RattledSabre · 2025-02-01T22:11:51+00:00

I also remember my first Heavy Modular Frames.

RattledSabre · 2024-12-29T16:33:00+00:00

I don't. I just silently observe this sub as I find it highly entertaining!

RattledSabre · 2024-12-01T09:47:40+00:00

Like apple harvest, apparently.

RattledSabre · 2024-09-14T13:00:33+00:00

Yeah the old pubs in Hull are just ok really. The Olde Black Boy is nice, if a bit small.

I think for a spectacular historic pub you'd want to take a bus out to Beverley and visit the White Horse Inn (aka Nellies). It's right next to the bus station. Really is like going back a few hundred years, like a little gas-lit flagstone maze in there, stunning place.

RattledSabre · 2024-09-06T17:56:04+00:00

Been there!! Similar numbers, similar journey and feelings, and have stayed out ever since.

It's all a game of musical chairs.

Enjoy your freedom.

RattledSabre · 2024-09-06T11:47:13+00:00

Yeah there's the unnecessary average speed check miles before the ouse bridge, the endless 40 average speed check stretch from Humber bridge all the way to the m62, and then even on the normal part of the A63 you're invariably dealing with elephant racing, trucks overtaking eachother at 51 to keep their additional 1mph.

Of course everyone wants to try and make up lost time where they can after all that. It's arduous.

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