Latest / The Paul Barron Crypto Show / Crypto Market Crash!️🔥Emergency Fed Cut Coming?

Transcript

Crypto Market Crash!️🔥Emergency Fed Cut Coming? · The Paul Barron Crypto Show

• 0:08
  Speaker 1: I think this was a livestream stream.
• 0:09
  Speaker 2: Everybody was looking for a lot of things happening in
• 0:12
  Speaker 2: the market over the weekend, obviously kind of in a
• 0:15
  Speaker 2: bit of a torchu.
• 0:16
  Speaker 1: Right now, we'll break it all down for you.
• 0:18
  Speaker 2: Get into a lot of the tokens, also into some
• 0:20
  Speaker 2: assignments of what we think might be going on here
• 0:24
  Speaker 2: in the next couple of weeks and into the future.
• 0:26
  Speaker 1: My name is Paul Bara. We'll come back into tech path.
• 0:28
  Speaker 2: I do want to thank our sponsor today and that's
• 0:30
  Speaker 2: I Trust Capital. This is one of the places you
• 0:32
  Speaker 2: can go for long term crypto holding, and of course
• 0:34
  Speaker 2: that's the thing right now. A lot of people, if
• 0:37
  Speaker 2: they're not in a panic mode, they're putting in their
• 0:40
  Speaker 2: stops in for long term holding, and of course one
• 0:42
  Speaker 2: of the ways to do it is with a CRYPTOIRA.
• 0:44
  Speaker 2: Check out I Trust Capital. You can join over there
• 0:47
  Speaker 2: simply by joining in and using our link. It's going
• 0:51
  Speaker 2: to give you one hundred dollars funding reward and you
• 0:54
  Speaker 2: can have you know, get into everything from ethereum, into
• 0:56
  Speaker 2: all coins Bitcoin of course as well as gold and silver.
• 1:00
  Speaker 2: So check it out and if you have an IRA
• 1:02
  Speaker 2: now you can also roll that in there, so they
• 1:04
  Speaker 2: can help you with that. Use our link to get going.
• 1:07
  Speaker 2: All right, So let's get into a couple of points here. Today,
• 1:10
  Speaker 2: of course, the market just in over one point nine
• 1:14
  Speaker 2: trillion riped out, wiped out from the US stock market.
• 1:17
  Speaker 2: So far we've seen probably one of the biggest falloffs
• 1:21
  Speaker 2: in the history of the stock market, or one of
• 1:23
  Speaker 2: the histories of the stock market in the sense of
• 1:25
  Speaker 2: a single day and over a period of time that
• 1:27
  Speaker 2: we've seen that's been very tight. Other things that have
• 1:30
  Speaker 2: played into this, of course, have been just how much
• 1:33
  Speaker 2: And of course this is one point five trillion in.
• 1:36
  Speaker 1: Market cap, this was as of today.
• 1:38
  Speaker 2: This would bring a total down on the mag seven
• 1:40
  Speaker 2: This of course the big guys, Nvidia, Tesla, Apple, Google,
• 1:43
  Speaker 2: of course we know that even mister Warren Buffett exit
• 1:47
  Speaker 2: out of Apple at eleven percent down, Google down eleven,
• 1:50
  Speaker 2: Meta down ten, Amazon down ten, and Microsoft course has
• 1:54
  Speaker 2: been on a slide for quite some time. All of
• 1:57
  Speaker 2: this many people looking at has did warrnt actually call
• 2:00
  Speaker 2: the top? I'm kind of curious what you guys think,
• 2:02
  Speaker 2: so make sure and drop some comments down below. When
• 2:04
  Speaker 2: I say the top top of the tech bubble in
• 2:07
  Speaker 2: the sense of where these markets are going or is
• 2:10
  Speaker 2: this still in a position where this is just a
• 2:12
  Speaker 2: pullback and most likely we could see more run ahead.
• 2:17
  Speaker 2: Other things playing into this In video, Stock is officially
• 2:20
  Speaker 2: down thirty percent off of its all time high in
• 2:23
  Speaker 2: overnight trading since the high on June twentieth, to race
• 2:26
  Speaker 2: one point true trillion in market Can you imagine that
• 2:28
  Speaker 2: one point two trillion erased in market cap since June.
• 2:32
  Speaker 2: To put this in perspective, only seven companies in the
• 2:36
  Speaker 2: world have a market cap of one trillion, So literally
• 2:40
  Speaker 2: entire major markets being erased in a period of a month.
• 2:44
  Speaker 2: Other things that are playing into this the vis of course,
• 2:47
  Speaker 2: worst markets events of our lives were remember two thousand
• 2:50
  Speaker 2: and eight financial crisis COVID of course, and then the
• 2:54
  Speaker 2: Bank of Japan raising interest rates by quarter percent.
• 2:56
  Speaker 1: That's today.
• 2:57
  Speaker 2: So is that the scenario that's playing out right now?
• 3:01
  Speaker 2: Is that one of the key factors in the overall markets.
• 3:05
  Speaker 2: I think there are many contributing factors into this. Many
• 3:09
  Speaker 2: people look at all of these kind of combining into
• 3:12
  Speaker 2: one particular area. This is Miles Stoocher talking about this.
• 3:16
  Speaker 2: You know, Trump president, the odds decreasing. If you guys
• 3:19
  Speaker 2: have been following the polymarket charts. You've seen the Harris
• 3:22
  Speaker 2: campaign really starting to accelerate recession fears. If we are
• 3:26
  Speaker 2: in fact in a recession where we've got these scenarios
• 3:29
  Speaker 2: of higher for longer and now starting to see real
• 3:33
  Speaker 2: job impact in the market, stop market correction, the end
• 3:37
  Speaker 2: unwinding geopolitical teenctions.
• 3:39
  Speaker 1: I think pretty much every here.
• 3:41
  Speaker 2: Yes, all of these things do align with what has
• 3:44
  Speaker 2: been happening with this big reduction. Now, remember though that
• 3:49
  Speaker 2: the market of course here on Monday morning, has had
• 3:53
  Speaker 2: a massive restructure and has already started to recorrect. Now
• 3:56
  Speaker 2: does that mean a long term correction here? That I
• 3:59
  Speaker 2: think is the bigger question going forward. And if it
• 4:03
  Speaker 2: does mean a long term correction, is it going to
• 4:05
  Speaker 2: be needing some assistance by the Fed itself. Here's Elon
• 4:09
  Speaker 2: talking about the FED neiece to drop rates emergency level,
• 4:13
  Speaker 2: and they're basically foolish for not of essentially going to
• 4:16
  Speaker 2: it at right now. So he's calling for a FED
• 4:19
  Speaker 2: rate cut to get initiated even before the September timeframe.
• 4:24
  Speaker 1: The question is is the Fed too late?
• 4:26
  Speaker 2: And if you look at this, we asked this last
• 4:27
  Speaker 2: week in our FOMC hearing and then you know, we
• 4:31
  Speaker 2: were talking a little bit about that with Evan last week,
• 4:35
  Speaker 2: and I felt like there could have been a quarter
• 4:37
  Speaker 2: basis points this month, though I was still highly unlikely,
• 4:41
  Speaker 2: and I was kind of leaning to September, especially with
• 4:44
  Speaker 2: the job numbers, probably going to be the one critical
• 4:48
  Speaker 2: factor that would push chair Pal into a FED rate cut. Now,
• 4:53
  Speaker 2: remember I'll zoom in on this a little bit, but
• 4:55
  Speaker 2: this thing went up to spiked up to round almost
• 4:58
  Speaker 2: sixty percent chance right there in early trading hours on
• 5:03
  Speaker 2: the fifth, and then of course here we are right
• 5:04
  Speaker 2: now coming in adjusting down here midday at around thirty
• 5:08
  Speaker 2: percent chance, even though it's been bumbling or I should
• 5:11
  Speaker 2: say bobbling, bumbling and bobbling along. Around twenty two was
• 5:14
  Speaker 2: its lowest, and then it started to climb again throughout
• 5:16
  Speaker 2: the day. And I'd love to know, do you feel
• 5:18
  Speaker 2: like the Fed's going to maybe take a look at
• 5:22
  Speaker 2: at least an emergency rate cut. I think everybody on
• 5:25
  Speaker 2: Wall Straight, along with pretty much most analysts now are
• 5:29
  Speaker 2: looking at a FED raycut definitely for September. Other things
• 5:33
  Speaker 2: to kind of compare is the fear and greed. This
• 5:36
  Speaker 2: is something to focus on. Here we are in a
• 5:40
  Speaker 2: thirty one on the fear and greed today, and if
• 5:43
  Speaker 2: you go back to our lows, we'll go back here
• 5:46
  Speaker 2: into twenty twenty three, we're at a thirty four and
• 5:49
  Speaker 2: then this spike up. We were right there at about
• 5:53
  Speaker 2: a forty nine, big spike up. So these periods of
• 5:57
  Speaker 2: times where we've had these low fear and greed scenarios,
• 6:01
  Speaker 2: now we haven't had one that has fallen off this hard,
• 6:04
  Speaker 2: but we do see those reversals back into where the
• 6:07
  Speaker 2: market repositions, and we may be on one of those
• 6:11
  Speaker 2: right now where bitcoin has recovered off of the fifty
• 6:14
  Speaker 2: K mark. Really forty nine k I saw it was.
• 6:17
  Speaker 1: It's low.
• 6:18
  Speaker 2: I want to go to a couple of clips here
• 6:20
  Speaker 2: because this gets into some other historical things that are happening.
• 6:23
  Speaker 1: Take a look some would call history.
• 6:26
  Speaker 3: Don't say that you've never been down a thousand points ever,
• 6:29
  Speaker 3: not even enter day on the nastack.
• 6:31
  Speaker 4: Is that true?
• 6:31
  Speaker 5: That is true?
• 6:32
  Speaker 4: Okay, I'm down six percent right from the get go.
• 6:35
  Speaker 4: This is heavy, heavy set, big tech.
• 6:37
  Speaker 1: Here we go.
• 6:37
  Speaker 4: Look at them go down. Microsoft is down twenty bucks.
• 6:41
  Speaker 4: That's five percent, Alphabet five percent, Meta six percent, Amazon
• 6:46
  Speaker 4: six percent, Apple nine percent down let's pull out Apple.
• 6:50
  Speaker 4: This is interesting a question.
• 6:54
  Speaker 2: All right, So big tech yess liquidity coming off the
• 6:58
  Speaker 2: table starts to push into liquidity into the markets, especially
• 7:02
  Speaker 2: here in the US and the crypto markets. I want
• 7:05
  Speaker 2: you guys to keep a very close eye on a
• 7:07
  Speaker 2: lot of the dates that are coming in. I don't
• 7:09
  Speaker 2: know if you guys know this, but on Trading View
• 7:10
  Speaker 2: you go over and getting into the economic calendar and
• 7:14
  Speaker 2: it zooms in on pretty much everything that's happening out there.
• 7:17
  Speaker 2: So you've got things happening on Monday. There's obviously the
• 7:21
  Speaker 2: three month bills coming in. All the ISM data that
• 7:24
  Speaker 2: came in a little bit lackluster, but nothing critical.
• 7:27
  Speaker 1: But it does give you a good outlook through the.
• 7:31
  Speaker 2: Rest of the next couple of weeks, in the next
• 7:33
  Speaker 2: few days that we'll start to see more and more
• 7:36
  Speaker 2: data coming into the FED to at least a point
• 7:39
  Speaker 2: where we may see chair Pal address this. Whether or
• 7:42
  Speaker 2: not he does or makes a move on a FED
• 7:45
  Speaker 2: rate cut, I think is really the question. Here's Jeremy
• 7:48
  Speaker 2: Siegel talking about that very issue.
• 7:50
  Speaker 6: Take a look, Well, you know what we're witnessing, but
• 7:53
  Speaker 6: you thought the FED was staying it once again for
• 7:56
  Speaker 6: the second time staying at the party too long and
• 7:59
  Speaker 6: too restrict.
• 8:00
  Speaker 7: You know, this may surprise me. I'm calling for seventy
• 8:04
  Speaker 7: five basis point emergency cut in the FED funds rate,
• 8:08
  Speaker 7: with another seventy five basis point cut indicated for next
• 8:13
  Speaker 7: month at the September meeting, and that's minimum at the
• 8:19
  Speaker 7: June meeting. The FED has said that the long run
• 8:24
  Speaker 7: FED funds rate, when inflation reached two percent and unemployment
• 8:29
  Speaker 7: has come up to four point two percent, should be
• 8:33
  Speaker 7: two point eight.
• 8:35
  Speaker 1: That's the normal.
• 8:37
  Speaker 7: Two point eight is the normal Fed funds rate. Well,
• 8:42
  Speaker 7: on Friday, we blew up across the employment number.
• 8:47
  Speaker 1: We're at four point three.
• 8:50
  Speaker 2: So and there are some I think a lot of
• 8:52
  Speaker 2: analysts that have looked at that. This is one of
• 8:54
  Speaker 2: the things that we've been talking about for over a year.
• 8:58
  Speaker 2: Is one of the lagging in indicators of all these
• 9:01
  Speaker 2: markets that start to play out is going to be
• 9:04
  Speaker 2: labor credit was the first. Was the other lagging indicator
• 9:07
  Speaker 2: that we started to see over the last ninety days,
• 9:09
  Speaker 2: meaning highest credit in consumer credit that we've seen in
• 9:13
  Speaker 2: the history of the United States. And not saying that
• 9:16
  Speaker 2: we were right, but the point is is that we
• 9:18
  Speaker 2: were looking at the concerning factor of all of this
• 9:21
  Speaker 2: having a trickle down effect. One of the big categories
• 9:25
  Speaker 2: that I follow is the restaurant industry, and we've continued
• 9:29
  Speaker 2: to see a big fall off on employment there, which
• 9:31
  Speaker 2: is one of the largest employees employment sectors out there.
• 9:35
  Speaker 2: And if you take away the government jobs, this four
• 9:37
  Speaker 2: point three that we're setting at right now in terms
• 9:40
  Speaker 2: of employment unemployment rate could be pretty significant had it
• 9:45
  Speaker 2: not been in place. So that is a factor I
• 9:47
  Speaker 2: think that Siegel is talking about. You look at the
• 9:49
  Speaker 2: true inflation index right here continuing to fall at a
• 9:53
  Speaker 2: pretty aggressive nature, even though we did have a little
• 9:56
  Speaker 2: bit of a bounce over the last couple of days,
• 9:57
  Speaker 2: which went down to one point three on the first
• 10:00
  Speaker 2: of August and then slightly up here to around one
• 10:03
  Speaker 2: point five. So all of this, what does this mean? Well,
• 10:07
  Speaker 2: I think the character of crypto has been a cycle
• 10:11
  Speaker 2: in and out. Typically you don't see these kind of
• 10:13
  Speaker 2: things moving at the same time. It's usually off of
• 10:16
  Speaker 2: one and into another, you know. And I think that's
• 10:19
  Speaker 2: the perplexing situation that is presenting to the market and
• 10:24
  Speaker 2: a lot of people talking about this. You know, Government
• 10:27
  Speaker 2: hire and spree was the good example of it propping
• 10:29
  Speaker 2: up the US job market. If you had taken those
• 10:31
  Speaker 2: jobs away, where would that number be? And if that
• 10:35
  Speaker 2: number were in place? Much like Siegel was talking about,
• 10:39
  Speaker 2: why isn't the adjusted interest rate accommodating for that? And
• 10:43
  Speaker 2: in other words, why did we stay you know, higher
• 10:46
  Speaker 2: for longer so long? And did in fact chairpal do
• 10:51
  Speaker 2: irreparable damage to the economy? That is the question, because
• 10:53
  Speaker 2: many of these things you just don't know for months
• 10:56
  Speaker 2: and months after when this occurs. And I think that
• 11:00
  Speaker 2: that's the problem that we could be facing right now.
• 11:02
  Speaker 2: I want to go to Katie Stockton. She talks a
• 11:05
  Speaker 2: little bit more how to manage risk if this does
• 11:08
  Speaker 2: start to heat up a little bit more.
• 11:09
  Speaker 6: Take a look how thick is the fear and uncertainty
• 11:13
  Speaker 6: right now? Can you?
• 11:14
  Speaker 4: Well?
• 11:14
  Speaker 8: I think today it's really kind of changed. On Friday
• 11:17
  Speaker 8: we saw indications of fear moving into the marketplace, which
• 11:20
  Speaker 8: had us on the lookout for signs of a shakeout,
• 11:23
  Speaker 8: which is effectively a false breakdown. And what tends to happen.
• 11:27
  Speaker 8: You see the vixed spike the way that it has
• 11:29
  Speaker 8: done Friday and now of course today up above fifty
• 11:32
  Speaker 8: two or so on the vix with that, it's rarely
• 11:36
  Speaker 8: a good day to sell, is what I would tell folks. So,
• 11:38
  Speaker 8: even though there's some panic in the marketplace right now,
• 11:41
  Speaker 8: you're seeing it across the board, multiple asset classes, multiple countries,
• 11:46
  Speaker 8: we feel that usually a snapback is at least a
• 11:48
  Speaker 8: better selling an opportunity when the fear is running as
• 11:51
  Speaker 8: high as it is.
• 11:53
  Speaker 6: If a snap backward orccrew, you could sell at better prices,
• 11:55
  Speaker 6: but you're still saying sell.
• 11:58
  Speaker 8: Well, we're saying sell ahead of a deeper correction. We do,
• 12:03
  Speaker 8: so we've been calling now for a seasonal correction. We
• 12:06
  Speaker 8: don't know what's going to happen, but we can try
• 12:08
  Speaker 8: to manage with through this type of environment, and I
• 12:11
  Speaker 8: think with a snapback we probably should be managing some
• 12:14
  Speaker 8: risk at least through that November sort of October seasonal
• 12:17
  Speaker 8: low period.
• 12:19
  Speaker 2: All right, So you can kind of see there is
• 12:21
  Speaker 2: still a lot of mitigation here going on in terms
• 12:24
  Speaker 2: of how analysts are looking at out of structure around
• 12:27
  Speaker 2: This doesn't mean that's necessarily the way to look at
• 12:29
  Speaker 2: it from a crypto side of things, but I think
• 12:31
  Speaker 2: for anybody, again not financial advice, they're probably looking at
• 12:35
  Speaker 2: whether your dollar cost averaging, or you're looking at maybe
• 12:38
  Speaker 2: entry points that you haven't seen, you know, in the
• 12:40
  Speaker 2: last year, and there's been a token maybe you're interested in.
• 12:43
  Speaker 2: But the fear of a US recession is the key
• 12:47
  Speaker 2: factor here, because if we do see a US recession,
• 12:49
  Speaker 2: in other words, a little bit more friction on the
• 12:52
  Speaker 2: job market and a struggle to get back into a
• 12:56
  Speaker 2: position for the FED in terms of lowering interest because
• 12:59
  Speaker 2: then if you lower two fast, things can of course
• 13:02
  Speaker 2: get out of balance in terms of how the economy
• 13:04
  Speaker 2: starts to react. US recession fears a hit crypto and equity.
• 13:09
  Speaker 2: But obviously the Japanese rate hike was the real culprit,
• 13:12
  Speaker 2: and of course this was one of the big factors.
• 13:14
  Speaker 2: That's about four trillion really that were at risk from
• 13:17
  Speaker 2: what was happening with the Japanese market. And of course
• 13:20
  Speaker 2: if you looked at the n K, another big structure
• 13:23
  Speaker 2: there in terms of breaking down many things flowing into this.
• 13:27
  Speaker 2: Over two hundred and seventy seven thousand traders liquidated their
• 13:30
  Speaker 2: bitcoin holdings. This is twenty four hours after we saw
• 13:34
  Speaker 2: the price under fifty k. That's one Kruger also was
• 13:38
  Speaker 2: looking at this believes the main issue not necessarily the
• 13:40
  Speaker 2: state of the US economy.
• 13:41
  Speaker 1: I disagreed there.
• 13:42
  Speaker 2: I think the economy has been in a little bit
• 13:45
  Speaker 2: of a downturn for quite a while. I think this
• 13:47
  Speaker 2: is just the position where people have recognized it. He suggests, though,
• 13:51
  Speaker 2: that the problem seems to be that the FED did
• 13:53
  Speaker 2: not cut interest rates while Japan increased its own key rate.
• 13:57
  Speaker 1: That I agree with.
• 13:58
  Speaker 2: FED will likely cut the policy by fifty BIPs in September.
• 14:02
  Speaker 2: This is what we were talking about a couple of
• 14:04
  Speaker 2: weeks ago, and I think everybody was a little bit saying, hey,
• 14:08
  Speaker 2: that's a bit of an overreach right now. Job numbers,
• 14:11
  Speaker 2: I think scared everyone in the market, and it started
• 14:15
  Speaker 2: to put a lot more pressure on going forward. So
• 14:17
  Speaker 2: if we continue to watch that job number and the
• 14:19
  Speaker 2: credit number continuing to decline, we're going to see some
• 14:23
  Speaker 2: very interesting markets. Here's camp Field talking about this. First
• 14:26
  Speaker 2: time I've seen bitcoin and the US dollar nuking together
• 14:31
  Speaker 2: like this, And again that's another factor that are almost
• 14:34
  Speaker 2: out of the cyclical terms of what we've seen in
• 14:37
  Speaker 2: these markets before. So make sure and drop some questions
• 14:40
  Speaker 2: in over on side, and also hit the poll over there.
• 14:42
  Speaker 2: I want to get you guys input on that if
• 14:45
  Speaker 2: you like these live streams, listen, just hit the like
• 14:47
  Speaker 2: button right now, just take a second, hit the like button.
• 14:51
  Speaker 2: It does help us get out in the YouTube algorithms,
• 14:54
  Speaker 2: but more importantly, it helps people start to realize, hey,
• 14:57
  Speaker 2: there's a place to go to maybe track what's happening
• 15:01
  Speaker 2: in not only blockchain or web three, but how it
• 15:03
  Speaker 2: ties to traditional markets. Other things that of course everybody
• 15:07
  Speaker 2: looked at was this right here, crypto market crash triggered
• 15:10
  Speaker 2: by the aggressive selling by Jump. So you know, now
• 15:15
  Speaker 2: Jump is pretty much out of the market, it looks like.
• 15:17
  Speaker 2: But Ether and its price struggling to remain around twenty
• 15:21
  Speaker 2: two hundred. This is a very psychological mark. I would
• 15:23
  Speaker 2: agree with potential move lower, which we saw it dip.
• 15:27
  Speaker 2: Underneath that other things that have seen is look at
• 15:30
  Speaker 2: the amount of sell offs that have been happening, would
• 15:33
  Speaker 2: jump over just this last bit of time, so that
• 15:36
  Speaker 2: in itself still pressuring Ether in general.
• 15:39
  Speaker 1: I think the key.
• 15:40
  Speaker 2: Here when you look at many of these majors like Bitcoin, Ethereum, Salana, Avalanche,
• 15:48
  Speaker 2: to an extent, even XRP, the key here is that
• 15:52
  Speaker 2: with this kind of macroeconomic position, because you have to
• 15:56
  Speaker 2: remember how much. If you really think about this, how
• 15:59
  Speaker 2: much much the traditional markets have regressed in comparison, that
• 16:04
  Speaker 2: would be like a forty to fifty percent drawdown in
• 16:07
  Speaker 2: crypto in terms of the veracity and just the issue.
• 16:11
  Speaker 2: Right now, every analyst out there is talking about this,
• 16:13
  Speaker 2: and they are jumping to huge numbers in terms of
• 16:17
  Speaker 2: rate cuts. I look at this as a typical process
• 16:22
  Speaker 2: that our crypto markets go through. Sure they're definitely fed
• 16:26
  Speaker 2: in by what traditional markets are doing, but I'm not
• 16:28
  Speaker 2: necessarily that worried right now. A couple of things you
• 16:32
  Speaker 2: could look at, why are they selling? This is, of course,
• 16:34
  Speaker 2: was jumped selling one hundred and twenty thousand, almost one
• 16:37
  Speaker 2: hundred and twenty yea one hundred and twenty thousand worth
• 16:39
  Speaker 2: of four un and one million sold eighty three three
• 16:42
  Speaker 2: and seventy seven million. This is all since July again,
• 16:45
  Speaker 2: so the market began to fall after July twenty fourth.
• 16:48
  Speaker 2: If you're following our own metric here, which is our MSI,
• 16:54
  Speaker 2: this is our market Centiment Index.
• 16:56
  Speaker 1: The intimate are.
• 16:57
  Speaker 2: The date that I was a little bit concerned with
• 16:59
  Speaker 2: was right around here, and this is back on the
• 17:01
  Speaker 2: twenty ninth where we started to see this drive down
• 17:03
  Speaker 2: last week, especially in the fall off right here, which
• 17:08
  Speaker 2: came off of the high around fifty six, which is
• 17:10
  Speaker 2: back on the nineteenth of July. This, by the way,
• 17:13
  Speaker 2: is available if you guys are not in the diamond circle.
• 17:15
  Speaker 2: Get in now you learn a little bit more about
• 17:16
  Speaker 2: getting access to some of these charts. We do a
• 17:19
  Speaker 2: lot of things within our own sentiment analysis around the
• 17:22
  Speaker 2: markets itself. Have our own indicator when we show charts.
• 17:26
  Speaker 2: That indicator which by the way, wait big news. The
• 17:29
  Speaker 2: indicator that is our invite only script that is now available,
• 17:34
  Speaker 2: so you should be seeing some notices in your trading
• 17:37
  Speaker 2: view accounts that the indicator is live. So for you
• 17:40
  Speaker 2: guys that are watching, that is now live and available.
• 17:44
  Speaker 2: Firstin says Bitcoin not to blame for the price crash
• 17:48
  Speaker 2: remains very in essence of Trump trade ahead of the
• 17:52
  Speaker 2: US elections. A lot of people look at this though,
• 17:55
  Speaker 2: I think when you look at where Trump has fallen
• 17:58
  Speaker 2: and that's another factor, is something that kind of surprised me.
• 18:01
  Speaker 2: If I can go to it, I'll go back to
• 18:03
  Speaker 2: our homepage. I'm going to go to our crypto tracker
• 18:07
  Speaker 2: on the politics because this was in my opinion, we
• 18:12
  Speaker 2: have not seen this climb right here by Harris. I
• 18:15
  Speaker 2: mean this, remember was Harris prior to let me kind
• 18:19
  Speaker 2: of zoom in on that for you guys a little
• 18:21
  Speaker 2: bit prior to being selected into where it is right
• 18:24
  Speaker 2: now forty So it's literally and Trump has been falling
• 18:28
  Speaker 2: with crypto punnits out there right now where it's down
• 18:32
  Speaker 2: to a seventy three point nine. That's pretty significant, which
• 18:36
  Speaker 2: because he was holding that seventy nine rating on crypto
• 18:40
  Speaker 2: sentiment based on how people in crypto think of Donald
• 18:45
  Speaker 2: Trump or you know, Harris in terms of a potential
• 18:49
  Speaker 2: candidate for the presidency. So these things are merging much
• 18:52
  Speaker 2: like what we've seen on the polymarket as well. All right,
• 18:56
  Speaker 2: let me go back to a couple of things black Rock,
• 18:58
  Speaker 2: of course, spot bitcoin et after passing one point five
• 19:01
  Speaker 2: I don't know if you guys can. I'm want to
• 19:02
  Speaker 2: zoom in on these because sometimes that's too small. One
• 19:05
  Speaker 2: point five billion in trading volume in the first hour
• 19:08
  Speaker 2: of trading, and I've got a couple of clips here
• 19:11
  Speaker 2: I want to cut to. I think I have Let
• 19:14
  Speaker 2: me see which one, do we Yeah, we want to
• 19:15
  Speaker 2: go to the Tom Lee quick clip, real quick, let's tick.
• 19:17
  Speaker 6: A look, do you do you get the feeling that
• 19:19
  Speaker 6: this is not going to be a major selloff.
• 19:24
  Speaker 9: Do you know we have over three days Suddenly markets
• 19:28
  Speaker 9: reversed and you know, Japan down to over twenty percent,
• 19:32
  Speaker 9: and as you're pointing out, the Nasdaq could even you know,
• 19:35
  Speaker 9: decline further. Declines like that are generally symmetric, but you
• 19:40
  Speaker 9: have to watch the VIX, and when the VIX peaks
• 19:44
  Speaker 9: and starts to roll over and fall down, the recovery
• 19:47
  Speaker 9: can be just as quick. I think a lot of
• 19:50
  Speaker 9: this depends on whether financial conditions in the US start
• 19:54
  Speaker 9: to tighten, but it does seem like as we look
• 19:57
  Speaker 9: back a lot more this is because of the surprise
• 19:59
  Speaker 9: high from Japan and the sort of knock on effects
• 20:04
  Speaker 9: from there. If that is the primary source of the reaction,
• 20:08
  Speaker 9: I know it's going to be tumultuous for markets, but
• 20:11
  Speaker 9: for the US economy, it's not necessarily bad news, and
• 20:15
  Speaker 9: I think that's why we can balance.
• 20:18
  Speaker 2: I think the key here with Tom Lee is, first
• 20:21
  Speaker 2: of all, he's kind of a permeable I feel like,
• 20:24
  Speaker 2: but at the same time, as long as we don't
• 20:26
  Speaker 2: get more negative numbers on the job side, yes, I
• 20:29
  Speaker 2: think now the market.
• 20:31
  Speaker 1: Is is skittish enough.
• 20:33
  Speaker 2: To where Chairpal may do well. We'll do a cut
• 20:37
  Speaker 2: in September, So it's coming. The question is do we
• 20:39
  Speaker 2: get a second cut this year. If we get a
• 20:42
  Speaker 2: follow up cut and the job numbers do start to stabilize,
• 20:46
  Speaker 2: if we get another four point three reading, another four
• 20:49
  Speaker 2: point four or greater reading, that signals a different kind
• 20:53
  Speaker 2: of economy that Lee I don't know is really present
• 20:57
  Speaker 2: for because if you think about this, the last time
• 21:00
  Speaker 2: that we've seen some of these numbers, and I don't
• 21:02
  Speaker 2: know if I'll go to the unemployment numbers right here,
• 21:05
  Speaker 2: these are periods of time. Let me zoom in on this.
• 21:08
  Speaker 2: This is the last one that I think most of
• 21:10
  Speaker 2: you guys will recognize is the two thousand and eight
• 21:12
  Speaker 2: you know, financial crisis right there, almost ten percent unemployment. Now,
• 21:17
  Speaker 2: granted we started to see that fall off, and this
• 21:19
  Speaker 2: was the recovery that got us in of course prior
• 21:22
  Speaker 2: to COVID. Of course COVID, I still say that's an
• 21:25
  Speaker 2: anomaly that shouldn't even be on this chart. You should
• 21:27
  Speaker 2: just track this right across the base from where it
• 21:30
  Speaker 2: ended at around three point six and pick it up
• 21:33
  Speaker 2: right there to three point seven and zoom in because
• 21:36
  Speaker 2: right there is the loop that is concerning this right here,
• 21:40
  Speaker 2: from a three point seven up to word trading right now,
• 21:43
  Speaker 2: not trading, but tracking unemployment at four point three. Again
• 21:48
  Speaker 2: goes back to the things that I watched the most,
• 21:50
  Speaker 2: and that is what are the service sector jobs looking like?
• 21:53
  Speaker 2: Every restaurant business out there, every retail business is down
• 21:57
  Speaker 2: in numbers. McDonald's reported their first down numbers in what
• 22:00
  Speaker 2: I think was like twenty quarters or something. These are
• 22:04
  Speaker 2: not signals that are positive for the market, So I
• 22:07
  Speaker 2: think that's the only factor that would play into this now.
• 22:09
  Speaker 2: All that being said, back to crypto. One of the
• 22:12
  Speaker 2: clips that I wanted to play for you guy, you
• 22:15
  Speaker 2: guys was kind of a bit of an unusual interview
• 22:18
  Speaker 2: done by CNBC.
• 22:19
  Speaker 1: Let me go to this one. This is the tezos founder.
• 22:22
  Speaker 6: Take a look, co founder of the blockchain tease us.
• 22:25
  Speaker 5: It's good to see.
• 22:31
  Speaker 1: Austin.
• 22:31
  Speaker 2: But the guys are going to get it back for you.
• 22:33
  Speaker 2: We're going to bring it back in there, and we'll
• 22:35
  Speaker 2: get into that in a second. Other things that, of
• 22:37
  Speaker 2: course are happening right now. Six point one trillion of
• 22:40
  Speaker 2: cash still sitting on the sideline. This could be a
• 22:42
  Speaker 2: big factor because with this much cash on the sidelines,
• 22:46
  Speaker 2: will they come back into the market or are they
• 22:49
  Speaker 2: still skittish in a position where they're keeping dry powder?
• 22:52
  Speaker 2: Are you in that kind of position? I'm kind of
• 22:54
  Speaker 2: curious if you guys are in a position where you're
• 22:56
  Speaker 2: keeping dry powder on the line. Are you in a
• 22:58
  Speaker 2: position now or you would deploy that? Let me know,
• 23:01
  Speaker 2: just drop some comments down below.
• 23:02
  Speaker 1: I see a lot of Oh my god, I love that.
• 23:08
  Speaker 2: Yeah, that's hilarious.
• 23:13
  Speaker 1: I can't. I'm sorry, I could. I'm looking at that's
• 23:17
  Speaker 1: in the questions right there. Do we have that clip ready?
• 23:20
  Speaker 1: Do we have the clip ready?
• 23:21
  Speaker 5: Or no?
• 23:22
  Speaker 9: No?
• 23:22
  Speaker 1: Okay, so let's keep on. We'll get going. I wanted
• 23:25
  Speaker 1: to play that clip for you.
• 23:25
  Speaker 2: But anyway, another couple of things right now is at
• 23:28
  Speaker 2: least six trading platforms are down. This was Citybank, Fidelity,
• 23:33
  Speaker 2: E Trade, Vanguard, TDM, or Trade, and Schwab all in craziness.
• 23:39
  Speaker 2: Funny thing was is, uh, you know, I thought only
• 23:42
  Speaker 2: crypto exchanges went down, But in reality, I know it's
• 23:45
  Speaker 2: not funny because the's a lot of people were trying
• 23:46
  Speaker 2: to make trades. So completely understand the frustration you get
• 23:50
  Speaker 2: when you're in a position. You're trying to get out
• 23:52
  Speaker 2: of something and you can't make that. Here's Jeremy Layer saying, hey,
• 23:55
  Speaker 2: don't worry about it. Lots of brokerage sites are down.
• 23:58
  Speaker 2: DeFi always on, never sleeps, open networks, open source protocol,
• 24:02
  Speaker 2: auditable in real time. Oh yeah, always on, fully reserved
• 24:05
  Speaker 2: digital dollars.
• 24:07
  Speaker 1: Like the USDC.
• 24:09
  Speaker 2: All right, let's go into a couple other points I
• 24:11
  Speaker 2: want to get in. I'm gonna take a look at
• 24:13
  Speaker 2: the charts for a second. We're gonna try the clip,
• 24:16
  Speaker 2: all right, So let's go back to that clip real quick.
• 24:18
  Speaker 2: I want you guys to watch this. See what you
• 24:20
  Speaker 2: guys think.
• 24:21
  Speaker 6: Co founder of the blockchain tease us. It's good to
• 24:24
  Speaker 6: see you this morning. I mean, gold didn't go down.
• 24:27
  Speaker 3: I know, I think bitquing it's a bit of a
• 24:29
  Speaker 3: schlacking because it's you know, definitely cast war as a
• 24:32
  Speaker 3: speculative currency. It's don treated the same as a lot
• 24:34
  Speaker 3: of other equities.
• 24:35
  Speaker 10: You just called it pretend to internet money.
• 24:37
  Speaker 5: Yes, that's uh people.
• 24:42
  Speaker 10: You know you're saying the quiet part out loud for
• 24:43
  Speaker 10: some people.
• 24:45
  Speaker 3: Oh, I think it's good to acknoledge that it's an
• 24:47
  Speaker 3: experiment and therefore Are you a believer in this experiment?
• 24:51
  Speaker 3: Very much so, but I think it's also good to
• 24:52
  Speaker 3: take it with a grain of salt. I know that
• 24:55
  Speaker 3: it's a very young, young market, and do.
• 24:57
  Speaker 5: You think it's a store value? That narrative is being
• 25:01
  Speaker 5: decimated as we.
• 25:01
  Speaker 10: Speak, so therefore you don't think it's a store of value.
• 25:04
  Speaker 5: I've never really bought into that narrative.
• 25:06
  Speaker 10: So you just think of it as a speculative stock.
• 25:09
  Speaker 2: No.
• 25:09
  Speaker 3: I think it's a new way to exchange value with
• 25:10
  Speaker 3: someone who you may or may not know across the internet.
• 25:14
  Speaker 6: So it doesn't need to be a store of value
• 25:18
  Speaker 6: to be to be something that's valuable and used.
• 25:22
  Speaker 3: I think that it addresses a fundamental problem and a
• 25:25
  Speaker 3: technical problem that isn't necessarily a pantasy for everyone. I
• 25:29
  Speaker 3: think the store of value meme is like a meme,
• 25:32
  Speaker 3: just like a lot of other cryptoculture that like sometimes
• 25:35
  Speaker 3: makes sense that other times doesn't. Another sort of nonsense
• 25:38
  Speaker 3: meme around bitcoin is that it's backed.
• 25:40
  Speaker 5: By sow value. Should it be a story?
• 25:44
  Speaker 10: Let me ask you just a different question, because this
• 25:46
  Speaker 10: is important on the screen for those who have bought
• 25:48
  Speaker 10: in ya the ETF. Okay, So look, if you look
• 25:50
  Speaker 10: at a Bitcoin ETF today, they're all down about seventeen percent,
• 25:54
  Speaker 10: something on the order of seventeen percent. I want you
• 25:55
  Speaker 10: to now, can we take the screen back up on
• 25:58
  Speaker 10: bitcoin itself, because you're going to see that there's a
• 26:00
  Speaker 10: differential between the ETF and bitcoin, the underlying currency. Right,
• 26:06
  Speaker 10: You're going to see it's off about thirteen percent. Boy, okay,
• 26:09
  Speaker 10: do you see the distinction here? There's an arbitrage situation
• 26:12
  Speaker 10: going on. So what does that say to you?
• 26:17
  Speaker 5: Not super sure?
• 26:19
  Speaker 10: Well, the reason I ask it is clearly the et
• 26:23
  Speaker 10: apps are trading at a discount, a significant discount to
• 26:26
  Speaker 10: the underlying currency. And whether that is a good thing
• 26:29
  Speaker 10: a bad thing, what does that really even mean?
• 26:31
  Speaker 5: It's a great opportunity for someone.
• 26:33
  Speaker 2: You see that, all right, So what it tells me
• 26:36
  Speaker 2: is to never have the teslo's founder back on CNBC
• 26:40
  Speaker 2: as you can see a little craziness there. But the
• 26:42
  Speaker 2: point I'm getting at is, and I think we're getting at,
• 26:45
  Speaker 2: is you look at all these emerging markets.
• 26:48
  Speaker 1: I would give her that.
• 26:49
  Speaker 2: One thing that she said is this is an emerging
• 26:52
  Speaker 2: market much like AI, much like what we saw in
• 26:54
  Speaker 2: the early birth years of the Internet, the early birth
• 26:57
  Speaker 2: years of mobile. All of those technologies were debt and
• 27:00
  Speaker 2: frowned upon by every investor out there, you know, until later,
• 27:05
  Speaker 2: you know, Warren Buffett comes in and says, yeah, we
• 27:06
  Speaker 2: should be investing in these kind of technologies. And I
• 27:09
  Speaker 2: think that is one of the factors there. But you're right,
• 27:13
  Speaker 2: she was getting destroyed. So I don't know if anybody's
• 27:15
  Speaker 2: selling tezos out there or not, but you know, you
• 27:17
  Speaker 2: might want to think about that. Let's move into some questions.
• 27:20
  Speaker 2: We are going to go to the poll real quick,
• 27:22
  Speaker 2: and then I'll get in some charts real quick.
• 27:23
  Speaker 1: Let's take a look at.
• 27:24
  Speaker 2: The poll, all right, what happens next? Bitcoin forty nine,
• 27:27
  Speaker 2: which had hit this was not really a fair poll
• 27:30
  Speaker 2: because we're off the forty nine mark. But everybody's saying
• 27:32
  Speaker 2: maybe we go back to forty nine before sixty nine. K.
• 27:37
  Speaker 2: So that being the case, I'm going to go to
• 27:40
  Speaker 2: the four hour chart on bitcoin and we'll take a
• 27:45
  Speaker 2: look at what this might be with our MSI data.
• 27:49
  Speaker 2: One thing I would say right now is that this
• 27:51
  Speaker 2: has been one of the lowest numbers I've seen on
• 27:54
  Speaker 2: bitcoin sentiment over a while. This again on our own
• 27:57
  Speaker 2: MSI chart, still trending down even though we did have
• 28:00
  Speaker 2: a little bit of correction here, but still trending down.
• 28:03
  Speaker 2: On the four hour. If you look at ethereum right
• 28:07
  Speaker 2: now also also trending down, but within the data it'll
• 28:12
  Speaker 2: take a second here for that to paint up. Sometimes
• 28:14
  Speaker 2: there there we go also having a pretty significant downturn
• 28:19
  Speaker 2: in terms of overall sentiment. One of the things too
• 28:22
  Speaker 2: on the MSI is anytime we start to see these
• 28:25
  Speaker 2: numbers under twenty percent, this gets really interesting. So net
• 28:29
  Speaker 2: volume right now in around twenty three percent, so very
• 28:31
  Speaker 2: low on that. The only one that really kind of
• 28:34
  Speaker 2: had a little bit of a turnaround was Salona, I
• 28:36
  Speaker 2: believe on the four hour, I think we had some
• 28:39
  Speaker 2: positive yeah one on the net volume sentiment was coming
• 28:42
  Speaker 2: in right there. You can kind of see that green
• 28:43
  Speaker 2: box coming in on that. So things are definitely moving
• 28:47
  Speaker 2: in the markets. We're going to be watching a lot
• 28:48
  Speaker 2: of this and for for always. If you guys are
• 28:52
  Speaker 2: not in our dimond circle, get in on that. We
• 28:54
  Speaker 2: always leave links down down below.
• 28:57
  Speaker 1: We'll get to some questions.
• 28:59
  Speaker 2: Did you guys pull up another poll or no, we're
• 29:01
  Speaker 2: good on the poll, all right, I didn't know if
• 29:03
  Speaker 2: you guys had another pole all right, but we do
• 29:05
  Speaker 2: have some questions.
• 29:06
  Speaker 1: All right, so a couple of people. I love that woman.
• 29:08
  Speaker 2: I don't know if you love it for the comedy
• 29:11
  Speaker 2: relief or what was it?
• 29:13
  Speaker 1: And then molders things you got destroyed? Let's see what
• 29:16
  Speaker 1: else do we have? Do we have any questions in here?
• 29:19
  Speaker 2: I'm looking, well, will you bring in Evan and do
• 29:22
  Speaker 2: some ta you know, Evan kind of called this last Friday,
• 29:25
  Speaker 2: is that he was talking around. I think it was
• 29:27
  Speaker 2: forty eight to fifty two was his number. So kudos
• 29:31
  Speaker 2: to Evan right there? Do you have dry powder? I
• 29:34
  Speaker 2: don't know, do you guys? Are you guys looking at
• 29:36
  Speaker 2: I mean I made some trades over the weekend. I'm
• 29:38
  Speaker 2: happy about those. We'll see, but I'm looking at this
• 29:41
  Speaker 2: at a long term. What was the issue that forced
• 29:44
  Speaker 2: Jump to dump? Where there's smoke, there'll be fire, you know.
• 29:49
  Speaker 2: I think that's the real question that a lot of
• 29:50
  Speaker 2: people are looking at. But ironically they put most of
• 29:53
  Speaker 2: that back into USDC, so into digital, So I don't know.
• 29:58
  Speaker 1: This is still unknown for actor here. There won't be
• 30:00
  Speaker 1: an emergency FED meeting that would cause more panic. I
• 30:03
  Speaker 1: agree with that.
• 30:04
  Speaker 2: I think it's just a fifty basis points. Maybe by
• 30:07
  Speaker 2: September fed late to react to the obvious what a chakra. Yeah,
• 30:11
  Speaker 2: I think that's the case for sure, pretty much the
• 30:14
  Speaker 2: case that they've always been in, and you know over history.
• 30:18
  Speaker 2: I read they were pricing an emergency FED great because
• 30:20
  Speaker 2: so rallied, and then I guess they found out it's
• 30:22
  Speaker 2: not going to happen, so they're dumping again. That's the thing.
• 30:25
  Speaker 2: End of day closed is going to be really critical
• 30:27
  Speaker 2: for a lot of these assets and a lot of
• 30:31
  Speaker 2: people out there buying right now. Tasos owns for twenty
• 30:37
  Speaker 2: k twenty thousand bitcoints. Not a story of value. Well,
• 30:41
  Speaker 2: you know, some people look at it as a speculative asset,
• 30:44
  Speaker 2: as many of these things are. So I understand it's
• 30:47
  Speaker 2: on you know, an ETF. I get that, but still
• 30:49
  Speaker 2: people you kind of have to give them for, you know,
• 30:52
  Speaker 2: for what they believe in an asset can do. Just
• 30:54
  Speaker 2: like if you're an Nvidia holder or any kind of
• 30:57
  Speaker 2: technology or there's a lot of ETFs out there at
• 30:59
  Speaker 2: the trade like this. JP Morgan allows XRP for credit
• 31:02
  Speaker 2: card and mortgage payments. I did see that over the weekend.
• 31:05
  Speaker 2: One of our researchers was dropping it into me good
• 31:07
  Speaker 2: news I think for XRP. Notice xrp's numbers not moving
• 31:11
  Speaker 2: dramatically over the weekend, sliding down over the last three
• 31:17
  Speaker 2: or four days down and then of course bumping back up.
• 31:20
  Speaker 2: We'll see if it comes back to its high, which
• 31:23
  Speaker 2: was around sixty five over the last couple of weeks,
• 31:26
  Speaker 2: even though sentiment down still but a nice move right
• 31:29
  Speaker 2: here on.
• 31:30
  Speaker 1: XRP on its recovery. But we'll see.
• 31:33
  Speaker 2: I think right now, still most everything is on the
• 31:36
  Speaker 2: down trend, even with this slight bump off of the bottom.
• 31:40
  Speaker 1: Just be careful.
• 31:41
  Speaker 2: You may see some things happening in the markets that
• 31:45
  Speaker 2: a lot of people are going to go, oh my.
• 31:47
  Speaker 1: Here we go.
• 31:48
  Speaker 2: Joby says rate cuts are coming and they're going to
• 31:51
  Speaker 2: come in hot. They will kick the can down the road,
• 31:54
  Speaker 2: I like they do every single time. Everyone just needs
• 31:56
  Speaker 2: to relax. This is literally my bitcoin exists. I think
• 32:00
  Speaker 2: the relaxing part is definitely the case because there are
• 32:04
  Speaker 2: a lot of people I think that are overreacting to
• 32:06
  Speaker 2: the kind of moves. These are moves that I think
• 32:08
  Speaker 2: for most people in crypto, they've seen them. You know, listen,
• 32:11
  Speaker 2: my portfolio got decimated, but that's normal. I look at
• 32:15
  Speaker 2: it in that way. You look at the long term
• 32:18
  Speaker 2: and once you zoom out, things change your perspective of
• 32:21
  Speaker 2: how these markets can move. So keep that and your
• 32:24
  Speaker 2: head about you. You'd be fine other things. As I said,
• 32:27
  Speaker 2: jump in on yeah, Manny, we did a whole video,
• 32:32
  Speaker 2: not a whole yeah. I think we did a whole
• 32:34
  Speaker 2: video on the Avalanche thing for their DMV contract.
• 32:38
  Speaker 1: Big news.
• 32:38
  Speaker 2: I think if they can, you know, tally on to
• 32:42
  Speaker 2: that and get more states involved. What he's talking about
• 32:45
  Speaker 2: is basically the entire Department of Voter Vehicles in California
• 32:50
  Speaker 2: now put all of their transactions on to Avalanche, and
• 32:54
  Speaker 2: if that goes into more states, AVAX definitely going to
• 32:57
  Speaker 2: see some stuff. And remember they got a lot happening.
• 32:59
  Speaker 2: Avalanche's got a lot happening coming into their big events,
• 33:02
  Speaker 2: so be on the lookout for some moves on Avalanche.
• 33:06
  Speaker 2: What did you buy over the weekend? I bought some
• 33:08
  Speaker 2: Salana and I also bought some Ethereum over the weekend
• 33:11
  Speaker 2: because that's just you know, that's just what I do.
• 33:14
  Speaker 1: I like those. Anyway, guys, make sure and get in
• 33:17
  Speaker 1: on the Diamond Circle.
• 33:17
  Speaker 2: It's a great place to get additional content for you
• 33:20
  Speaker 2: guys out there. We also do some custom content that
• 33:23
  Speaker 2: we don't put here on YouTube in the diamond circle,
• 33:25
  Speaker 2: and you're part of a community that we also drop
• 33:28
  Speaker 2: stuff into as well. So when you're in that diamond circle,
• 33:31
  Speaker 2: you'll get a little library that says yet says you
• 33:33
  Speaker 2: have access into the community.
• 33:35
  Speaker 1: That's how it works.
• 33:36
  Speaker 2: Or you can follow me out there on x at
• 33:38
  Speaker 2: Paul Barren. We'll catch you next time. Right here, a
• 33:40
  Speaker 2: tech bath