Latest / CRYPTO 101 / Crypto Rundown: Top Bitcoin Trading Signals Revealed for BTC ETH & Altcoins

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Crypto Rundown: Top Bitcoin Trading Signals Revealed for BTC ETH & Altcoins · CRYPTO 101

0:08
[SPEAKER_01]: Alright everybody welcome back to another edition of the crypto run down as promised a Friday episode with our friend Brendan who was gonna dive into the charts because as the volatility continues to heat up as we entered the summer months There's a lot of news to break down.
0:24
[SPEAKER_01]: There's a new fed that actually gave out some new mandates and new directions.
0:27
[SPEAKER_01]: We're gonna break down that
0:29
[SPEAKER_01]: Plus all the other crypto stuff in the news, but you saw the thumbnail.
0:32
[SPEAKER_01]: You saw the title and Brendan's here.
0:33
[SPEAKER_01]: So you know what we have to do first.
0:35
[SPEAKER_01]: Jump right into the charts, Brendan.
0:37
[SPEAKER_01]: Happy Friday, my friend.
0:39
[SPEAKER_01]: How are you?
0:40
[SPEAKER_00]: Happy freaking Friday, Tvo.
0:43
[SPEAKER_00]: Man, it's going to be a good one.
0:44
[SPEAKER_00]: We're coming in here right past the halfway point of June.
0:47
[SPEAKER_00]: Officially through the halfway point of this year, what a wild year it's been so far.
0:52
[SPEAKER_00]: definitely a bit of a roller coaster right lots of ups and downs so far on this year the downs prevailing a little bit um but that doesn't mean that there's not opportunity and so you know like you said we're going to jump into the charts here uh and we're going to see Bitcoin bouncing off a fresh sixty two thousand dollars as it's getting a little bit of a balances we're trying to make this video so let me uh throw this up on the screen for us
1:16
[SPEAKER_00]: Um, and we'll kind of examine what's going on here now.
1:18
[SPEAKER_00]: I want to show the charts first, but after that, I want to go through five or six different things that I think are contributing to the current state of the market and some of the bearish activity that we've seen here.
1:31
[SPEAKER_00]: So we'll probably reference back to the charts, but this is going to be more so the technicals, and then in just a moment when we're done with this, we'll go through more of the six fundamental catalysts that are some of the reasons behind this crash and behind this bearish
1:46
[SPEAKER_00]: And I think that'll help the listener kind of understand what's happening, why it's happening, and what's going on, really behind the scenes here.
1:52
[SPEAKER_00]: But the technicals first, because we know people love this.
1:56
[SPEAKER_00]: They love looking at the charts and hearing what's going on.
2:00
[SPEAKER_00]: It's been a pretty rough time since.
2:02
[SPEAKER_00]: the rejection of that last bear flag that we had right we've talked about it a lot so I don't want to spend a ton of time on it but what we've seen here so far is Bitcoin you know the rejection of that prior support turn resistance the 200-day moving average that anchored VWOP
2:20
[SPEAKER_00]: from the all-time high, you know, the top of this bear flag, all the above, you know, then the ultimate breakdown of the bear flag here has brought us kind of to where we're at, you know, we bottomed out at slightly lower lows of 59,000 compared to 60,000.
2:35
[SPEAKER_00]: And, you know, since then, we bounced up a little bit, but again, unable to break this 20-day moving average.
2:42
[SPEAKER_00]: was only able to retrace about 14, 13% to the upside.
2:48
[SPEAKER_00]: And that was coming after about a near 30% move to the downside.
2:51
[SPEAKER_00]: So not even half of this was able to get retraced at least so far.
2:56
[SPEAKER_00]: But you do see selling pressure once again coming back in.
3:00
[SPEAKER_00]: Now, I think the trend here is obviously looking in a rough spot, right?
3:04
[SPEAKER_00]: You look at every prior bear flag and you see Bitcoin go from a bear flag into new lows, bear flag into new lows, bear flag into new lows, bear flag, and this time we haven't gone into new lows yet.
3:17
[SPEAKER_00]: So that kind of begs the question here.
3:20
[SPEAKER_00]: or are we going to go into new lows?
3:22
[SPEAKER_00]: And I think you have to leave that as something that is a possibility.
3:26
[SPEAKER_00]: You have to leave that option on the table here.
3:28
[SPEAKER_00]: It doesn't mean it has to be all doom and gloom, right?
3:31
[SPEAKER_00]: I saw someone saying, oh, we're going to go to straight to 10,000 or 20,000 or whatever it may be.
3:37
[SPEAKER_00]: And I was like, well, you know, let me jump for expectations that don't really think it's quite that bad.
3:42
[SPEAKER_00]: But
3:43
[SPEAKER_00]: You know, what we often see in both market cycles, right, to the upside and the bull markets, you see people projecting that Bitcoin will go higher than it actually will.
3:52
[SPEAKER_00]: And in the bear markets, you see people doing the same, and they have these crazy predictions that Bitcoin will go way lower than it actually will.
3:59
[SPEAKER_00]: And it works both ways.
4:00
[SPEAKER_00]: so i'd say that there's a nice happy medium here we can say hey the trend is still bearish the technicals here also don't look particularly great i want to say they look horrible but you know they're not you know a great spot yet where it's like oh my goodness i need to be smashing lungs getting in leverage i don't think we're quite at that spot yet based on the data in the charts but
4:22
[SPEAKER_00]: you know, I would leave the room and leave room for the conversation that you could solve bullish activities here.
4:28
[SPEAKER_00]: And that's really, or excuse me, bearish activities.
4:30
[SPEAKER_00]: You could potentially see new lows.
4:32
[SPEAKER_00]: You could see a retest of the lows.
4:34
[SPEAKER_00]: That's still something that's just on the table until we're proven wrong here.
4:37
[SPEAKER_00]: So again, rejection of the 20 day moving average, you see the selling pressure coming back in, that point back to around 63,000 here on the low end.
4:46
[SPEAKER_00]: And, you know, pushing back into support.
4:48
[SPEAKER_00]: Now,
4:49
[SPEAKER_00]: This will be a pretty interesting zone because what you have here is this orange line, which is an anchored view up from the 2022 lows down over and here.
4:58
[SPEAKER_00]: And then if you go to a weekly chart, you know what you have here is the 200-week moving average, which we've talked about quite a bit over here.
5:06
[SPEAKER_00]: But the reason why this is significant is because over the course of Bitcoin's history, you kind of look back at this 200-week moving average, which is at the yellow line,
5:15
[SPEAKER_00]: and obviously this has been a huge buying area for people who want to buy in the bear market at the depths of the bear market.
5:23
[SPEAKER_00]: You could look back to the start of 2015, the end of 2015, you could look at 2018, 2019, 2020, 2022.
5:31
[SPEAKER_00]: We went obviously a little bit beneath it, but still a buying opportunity.
5:35
[SPEAKER_00]: And now as you kind of zoom in over here, once again, you're really approaching
5:45
[SPEAKER_00]: buying it really, really great levels based on the historical data.
5:50
[SPEAKER_00]: So I would look at all this and I'd say, hey, you know, one of the big things that I've been an advocate that we need to see is higher swing lows on the relative strength index, looking at this chart.
6:00
[SPEAKER_00]: You can see that we have had lots of bearish divergence and bearish convergence, and there's all these bearish signs that have been firing all here for the last two to three years.
6:09
[SPEAKER_00]: But,
6:10
[SPEAKER_00]: what we can see, or what we need to see now is kind of the opposite of this.
6:14
[SPEAKER_00]: We need to start seeing Bitcoin put in a higher lows from the oversoul territory.
6:18
[SPEAKER_00]: That could happen on the weekly timeframe of the relative strength index, which is what we're looking at, or it could happen on the daily, which is where I think it needs to start.
6:27
[SPEAKER_00]: So any kind of higher swing low in this oversoul territory would be a good sign for me.
6:31
[SPEAKER_00]: That would be showing me that the sellers are essentially losing strength upon these moves to the downside,
6:40
[SPEAKER_00]: We haven't quite gotten that yet.
6:42
[SPEAKER_00]: You also have not quite gotten the MACD crossing fully to the upside on the one week time frame, which is another thing that I want to see.
6:49
[SPEAKER_00]: MACD is still pretty low here on the weekly.
6:52
[SPEAKER_00]: And if you go here on the daily, it's obviously back into this more oversold territory.
6:58
[SPEAKER_00]: So, you know, I think we're looking for a couple of signs here that could maybe give us
7:04
[SPEAKER_00]: a better idea that a bottom is in.
7:06
[SPEAKER_00]: We're just yet the fully see those.
7:08
[SPEAKER_00]: And so I think you have to leave the conversation here on Bitcoin open to the topic of more downside.
7:15
[SPEAKER_00]: And what we've really seen is the sellers come in and just sell the rips.
7:19
[SPEAKER_00]: You know, every time it kind of goes up, you see people capitalizing on the moves up followed by a lot of selling pressure.
7:26
[SPEAKER_00]: So, you know, for the time being the way that I want to position here and the way that I'm thinking about it is I think you have really great long-term opportunity, you know, when I'm thinking one, two, three years out, I'm really not worried about that.
7:39
[SPEAKER_00]: I think you get yourself into, you know, at least for me personally, I look at that as long-term accumulation and I'm pretty confident in that.
7:46
[SPEAKER_00]: I think it's the next day, the next week, the next month, maybe even the next few months, you still have a little bit of uncertainty here in the crypto market.
7:54
[SPEAKER_00]: And we'll get into some of those catalysts to why, but technicals here, again, long-term value looks really good in, you know, there's a lot of data behind that, but shorter term is just a little bit more uncertain.
8:07
[SPEAKER_00]: So if anything, I'm doubling down on what's winning.
8:09
[SPEAKER_00]: I'm doubling down on maybe the large caps that I feel are safer and I'm doubling down on anything that I believe has like fundamental value and can be a long-term bet.
8:19
[SPEAKER_00]: And I'm looking a little bit more at those right now.
8:21
[SPEAKER_01]: A great analysis of Bitcoin.
8:24
[SPEAKER_01]: Any other things catching your eyes in the charts?
8:26
[SPEAKER_01]: I know we have two mats.
8:29
[SPEAKER_01]: We got in that bee.
8:30
[SPEAKER_01]: We've got a match shake.
8:33
[SPEAKER_01]: In the chat, everybody else out there in the chat.
8:35
[SPEAKER_01]: Give us, let us know we were calling in from me at one from Minnesota.
8:39
[SPEAKER_01]: We could do questions at the end.
8:41
[SPEAKER_01]: If you guys stay on the call, but Brandon, what else is on your mind before we move on?
8:46
[SPEAKER_00]: Yeah, you know, I've been watching Ethereum in Solana here, you know, one of the things I will say that I like on this is that you're seeing if this might sound bad at first, but you're seeing You know, a decent amount of underperformance on the moves down and you're seeing over performance on the moves up.
9:01
[SPEAKER_00]: What that means is that
9:03
[SPEAKER_00]: you're seeing volatility in both directions.
9:05
[SPEAKER_00]: I would actually be pretty concerned that if we were looking at this breakdown and, you know, from top to bottom here, you have almost 40% on Ethereum and on Solana over here, you have almost 40% as well.
9:19
[SPEAKER_00]: Well, we looked at Bitcoin and it was just shy of 30%.
9:22
[SPEAKER_00]: So on these moves down, you're seeing an increase in volatility on Solana and Ethereum, which it face value looks bad.
9:29
[SPEAKER_00]: The difference here is that on the moves up on these rallies up, you're also seeing out performance to the upside.
9:35
[SPEAKER_00]: So you're seeing again more volatility in both directions, a 27% move on Solana and for Ethereum over here, it was about 23, 24%.
9:44
[SPEAKER_00]: You compare that to Bitcoin, again, Bitcoin fell about 28%, and then it rose only about 13%.
9:52
[SPEAKER_00]: So you have both of these different, you know, large caps, Ethereum, and Solana, outperforming, you know, more than two to one.
10:00
[SPEAKER_00]: and seeing twice as much upside, which are actually things a good thing.
10:04
[SPEAKER_00]: I would actually, I would be really nervous if we just sold downside performance, where you saw them moving with more volatility to the downside, and then equal to our less than what we're seeing in Bitcoin's volatility.
10:16
[SPEAKER_00]: So if these were coming up,
10:18
[SPEAKER_00]: like Bitcoin, you know, 13% off their lows, but they're falling even more.
10:22
[SPEAKER_00]: I think that would be a cause for concern, and that would make me think, hey, we probably need to go a decimount lower.
10:28
[SPEAKER_00]: But we started to not see that as much.
10:29
[SPEAKER_00]: Again, they are seeing a decimount of buying pressure and volatility off these bounces.
10:35
[SPEAKER_00]: You know, more than twice, right?
10:36
[SPEAKER_00]: Solano is more than twice what Bitcoin was doing.
10:39
[SPEAKER_00]: Ethereum was nearly two times the upside that Bitcoin had on this bounce.
10:44
[SPEAKER_00]: And that's I think a good sign it again, I would be really nervous if you weren't getting that you are getting a decent amount of buyer volatility and seller volatility and that's actually pretty normal behavior from altcoins, which is something that I've noticed the other thing here.
10:59
[SPEAKER_00]: is that you still have different ults that have been performing quite well, you know, arrow drum here on the last week or so really nice rally of around 71% up also been watching hyper liquid in here, which is, you know, one that we talk about pretty frequently, coming off these most recent lows, bouncing up hitting new all-time highs up about 45% coming in with a little bit of selling pressure here, but again, you know, this is something that hit new all-time highs this week and is still showing decent levels of strength and
11:28
[SPEAKER_00]: which I happen to like.
11:30
[SPEAKER_00]: Um, there's some other ones that have been holding long term.
11:32
[SPEAKER_01]: Well, we have a unit swap because we talked about the standard charter, uh, initiative for you to swap and then, uh, Brian, and I were talking about how new to swap an aridrome kind of caught a bid off of that.
11:42
[SPEAKER_00]: Yeah.
11:43
[SPEAKER_00]: You know, you need to swap here another, uh, when it's had a good bounce this week, um, bounced up about 60% here in the last week or so, uh, off those recent lows.
11:53
[SPEAKER_00]: So, yeah, I mean, that's a good catch right along with aridrome.
11:56
[SPEAKER_00]: I would say I think Airdrome looks a little bit stronger than the Unichart Unis bear, you know, pretty hammered here for a while.
12:02
[SPEAKER_00]: In Aero has too, but I think Airdrome just looks a tad bit stronger.
12:06
[SPEAKER_00]: I think their tokenomics are a little bit better too personally, which is probably
12:13
[SPEAKER_00]: you know, a factor to be considered.
12:16
[SPEAKER_00]: But yeah, I mean, yeah, you have hyper liquid as well, which we we have talked about quite a bit.
12:21
[SPEAKER_00]: Z cash with a really big bounce off these lows, where there's a lot of fun, you know, 114 percent.
12:28
[SPEAKER_00]: You've also seen obviously Venice hold value decently well, but kind of rounding over to the downside a little bit.
12:33
[SPEAKER_00]: A cost has been on a pretty big run here.
12:35
[SPEAKER_00]: And
12:37
[SPEAKER_00]: Yeah, I mean, overall, you know, altcoins for the most part are obviously leaning bearish, but there are some sprinkles of winners out there and, you know, we can't forget near, right, and years have been on pretty good run as well.
12:48
[SPEAKER_00]: So a lot of opportunities.
12:50
[SPEAKER_01]: We'll do one more from the chat before we move on, Brent.
12:52
[SPEAKER_01]: I think we got a new friend of the show is Master from Matt from Minnesota.
12:58
[SPEAKER_01]: Obviously, one of those ones, he wants to know about XRP.
13:01
[SPEAKER_01]: And we love the XRP army.
13:03
[SPEAKER_01]: But you know, he's new because he probably hasn't heard a lot of our takes on XRP.
13:07
[SPEAKER_01]: So let's give him a little read on that and Matt, welcome to the crypto 101 family.
13:11
[SPEAKER_01]: Give us a like, subscribe.
13:12
[SPEAKER_01]: Everybody, give a video a like.
13:14
[SPEAKER_01]: We appreciate it.
13:15
[SPEAKER_01]: We've got David from Kentucky Matt, another Matt from Tennessee.
13:19
[SPEAKER_01]: Anybody else watching?
13:20
[SPEAKER_01]: Let us know where you're watching from before we move on.
13:23
[SPEAKER_01]: We'll get XRP and then move on to the news.
13:26
[SPEAKER_00]: Yeah.
13:26
[SPEAKER_00]: Well, it's good to see you.
13:28
[SPEAKER_00]: If you are new, it's great to have you here.
13:30
[SPEAKER_00]: Oh, we appreciate it.
13:32
[SPEAKER_00]: Yeah, you know, like Tiva said, I have a very interesting view of XRP.
13:35
[SPEAKER_00]: It was one of one of the first altcoins I purchased.
13:39
[SPEAKER_00]: I've traded this thing on and off since like 2017.
13:41
[SPEAKER_00]: So I've been around since basically the beginning of this thing.
13:47
[SPEAKER_00]: And on and off a part of it.
13:49
[SPEAKER_00]: My kind of stance on it right now is, you know, I know a lot of listeners know not a huge fan of.
13:55
[SPEAKER_00]: the fundamentals, but I like to trade the thing.
13:58
[SPEAKER_00]: So I do have exposure on and off to this guy.
14:01
[SPEAKER_00]: I like to trade it.
14:02
[SPEAKER_00]: I haven't touched it in a while.
14:04
[SPEAKER_00]: And so my stance on XRP here is that regardless of the fundamentals, right?
14:09
[SPEAKER_00]: Not even getting into that conversation, just surely the technicals in the chart.
14:14
[SPEAKER_00]: What you have seen here is you're pretty clear under performance for a while.
14:19
[SPEAKER_00]: Pretty clear under performance where it's been doing worse than Bitcoin,
14:25
[SPEAKER_00]: just not really seeing a great trend in when it does get bounces.
14:30
[SPEAKER_00]: I would say the bounces are just again worse than what we've seen in other assets and then the downside immediately comes in fairly quickly afterwards.
14:38
[SPEAKER_00]: So here's that downtrend that you've had for a while now.
14:43
[SPEAKER_00]: Right very clear downtrend lower high lower low lower highs lower lows just on off on off all the way down and you know with it leading in the new lows here that's nothing to write you're seeing that with other charts as well I would just say that with with
14:58
[SPEAKER_00]: Well, we've experienced recently, you know, it didn't even get pushed up.
15:02
[SPEAKER_00]: If you look at this consolidation, you know, there was really no move to the upside just sideways chop.
15:07
[SPEAKER_00]: You would least compare that to, you know, obviously Bitcoin, you know, you had a test of the change of the moving average.
15:12
[SPEAKER_00]: You can go and look at Ethereum and at least you had some higher highs putting in pressure, breaking out Solana, kind of in the same boat, honestly, as XRP here,
15:27
[SPEAKER_00]: But you go back to XRP here, and again, the story here is under performance for me.
15:35
[SPEAKER_00]: So I haven't touched this guy in a while.
15:39
[SPEAKER_00]: The thing about XRP too here is I'm going to zoom out real fast.
15:42
[SPEAKER_00]: You go to give us a big picture.
15:44
[SPEAKER_00]: When it goes, it goes, right?
15:45
[SPEAKER_00]: When this thing is hot, it is hot and it runs so hard, but when it's not, it just doesn't do a lot.
15:55
[SPEAKER_00]: And that's a little bit like concerning, right?
15:57
[SPEAKER_00]: You know, here, you have that famous 2017-2018 run.
16:00
[SPEAKER_00]: It happened a chop sideways for years and just blood.
16:04
[SPEAKER_00]: Then it had a big old run over here.
16:06
[SPEAKER_00]: It came down chop sideways for years and blood.
16:09
[SPEAKER_00]: Then it came on this run, now it's chopping down.
16:13
[SPEAKER_00]: I don't like it during these off periods.
16:16
[SPEAKER_00]: And I do think that the argument against them has gotten stronger as blockchain has advanced technologies and increased different alternative solutions, especially internally and a lot of these financial institutions have started popping up left and right.
16:33
[SPEAKER_00]: Take it from us.
16:33
[SPEAKER_00]: We talk to these different asset managers and financial institutions and banks and payment providers.
16:39
[SPEAKER_00]: Like we talk to them.
16:42
[SPEAKER_00]: And, you know, yeah, I think they're in a tough spot.
16:45
[SPEAKER_00]: It doesn't mean they can't go up, doesn't mean they can't rally, right?
16:48
[SPEAKER_00]: They probably will, and when they do rally, it's going to be electric again.
16:51
[SPEAKER_00]: But I think in the current spot here, they do look just like one of the weaker picks, right?
16:56
[SPEAKER_00]: It's hard to look at them right now, coming off the lows, really sharp rejection off these highs, and also kind of measuring up here, you know, it's what rejection of the 50-day moving average falling
17:11
[SPEAKER_00]: Um, I don't want to beat it up too bad, but again, the goal here is just to get my honest thoughts, you know, and semi semi unbiased way.
17:19
[SPEAKER_00]: Um, but I think the chart looks, you know, tough, right?
17:23
[SPEAKER_00]: Yeah.
17:23
[SPEAKER_00]: So XRP is just something that I want to really be looking at too much right now.
17:30
[SPEAKER_01]: But that could change.
17:31
[SPEAKER_01]: But that doesn't mean that we don't love the army right, Brendan.
17:35
[SPEAKER_00]: Yeah, oh yeah, well, I mean, listen, we want XRP to succeed.
17:38
[SPEAKER_00]: We want it to do well.
17:39
[SPEAKER_00]: We want all of crypto to do well, right?
17:40
[SPEAKER_00]: I'm not a hater of it, but yeah, which is totally fine.
17:46
[SPEAKER_01]: So the wrap up the TA, we got a couple of other questions there, but we have to move on.
17:51
[SPEAKER_01]: So if anybody's interested, Matt, I know you're new.
17:53
[SPEAKER_01]: You keep kind of throwing in some tickers.
17:55
[SPEAKER_01]: So check out the link below.
17:56
[SPEAKER_01]: It's Brendan's six week training course.
17:58
[SPEAKER_01]: You can kind of learn the ins and outs of how he does technical analysis, and you get a live session with him.
18:03
[SPEAKER_01]: every week and it's an hour long, twice a week and you can get to throw in some questions, all the questions you could ever, everyone plus learn all the tools and tricks that he knows on the charts.
18:14
[SPEAKER_01]: So check out that link below if you're interested in more or maybe start with, you know, just the $1 trial of one of our other products, but we appreciate everybody tuning in.
18:23
[SPEAKER_01]: Brendan, I saw you, you shared something that was really interesting.
18:26
[SPEAKER_01]: It was Bitcoin supply and loss versus price.
18:30
[SPEAKER_01]: Um, is that something that transitions well after the charts that we should bring up?
18:35
[SPEAKER_00]: Yeah, let's throw it out there.
18:38
[SPEAKER_00]: Yeah, this is an interesting one here.
18:40
[SPEAKER_00]: I mean, well, it shows a couple of things, right?
18:44
[SPEAKER_00]: One of the things that I am always curious about is
18:49
[SPEAKER_00]: where do the majority of people sit?
18:52
[SPEAKER_00]: And what this shows is that number one, big queens at about a 50% loss.
18:58
[SPEAKER_00]: What that also means is that over 50% of holders or a lot of holders, excuse me, are also sitting at a loss.
19:07
[SPEAKER_00]: so there's two ways of looking at this.
19:10
[SPEAKER_00]: One would be really scared and saying, oh my gosh, this is pessimistic.
19:14
[SPEAKER_00]: Another chart that maybe we can show here towards the end.
19:17
[SPEAKER_00]: We've shown it a lot on these, so maybe we don't need to throw it up once again.
19:21
[SPEAKER_00]: But I have this chart and it shows what your average return rate when you're buying at a 50% loss, right?
19:26
[SPEAKER_00]: It shows what your average return rate at a 10, 20, 30, 40, 50, 60, and 70%.
19:31
[SPEAKER_00]: Draw it out of Bitcoin.
19:33
[SPEAKER_00]: If you're buying at those drawdown points of, you know, 10 to 70% and what would be your success rate one year out?
19:42
[SPEAKER_00]: And around the 50% mark, I believe the return rate is 89.8%.
19:46
[SPEAKER_00]: So if you're buying at a 50% drawdown, the statistical odds based on the last like 10 to 12 years of data is that you'll be green 89.8% of the time.
19:57
[SPEAKER_00]: And your average, I think your average in your median return are also both over around a hundred percent, which is kind of crazy.
20:07
[SPEAKER_00]: So again, you look at this and you see, oh my gosh, 10.5 million Bitcoin or over 50% of Bitcoin supplies now held at a loss from just 30 percent a month ago, and you see this number,
20:18
[SPEAKER_00]: Well, again, you know, when this is, when we're kind of typically in these spots, it marks a bottoming point when you get around this area.
20:26
[SPEAKER_00]: You can kind of see this happening here, obviously in the last bear market, 2022, see this happening, you know, during the 2018-19 run, you see this way back before then, and like,
20:38
[SPEAKER_00]: excuse me 2016-17 and these are all historically like decent buying opportunities but yeah I thought it was an interesting chart it basically said hey how many people are out of laws here and what is that meant historically and if you would have bought at these areas you know during historical drawbacks you probably would have been pretty happy
21:00
[SPEAKER_00]: but it I think it shows that we need to get to Max Payne before we can get to Max's game.
21:05
[SPEAKER_01]: Yeah, and you know, again, you can't pinpoint our exactly know where the bottom or the top is.
21:12
[SPEAKER_01]: Anybody that says they know is is lying to you.
21:14
[SPEAKER_01]: So Max Payne can't.
21:17
[SPEAKER_01]: be too far away or maybe it's already here.
21:19
[SPEAKER_01]: I think it's interesting when you start thinking about max pain.
21:21
[SPEAKER_01]: It's like, okay, there's the single max pain of the downside to the Bitcoin price or having your money in crypto, but there's also an opportunity trade loss of a lot of people, you know, whether you're in crypto or
21:32
[SPEAKER_01]: you know, whether you're in the health care sector or whether you're just in staples of watching this AI trade happen.
21:38
[SPEAKER_01]: And you're looking at sandists go up, you know, 17, you know, acts or something in a couple months and it and like there's an opportunity lost there.
21:46
[SPEAKER_01]: So it's interesting to kind of take in all the, you know, all the factors of what Max Payne might be for traders.
21:54
[SPEAKER_01]: And we've kind of seen this.
21:56
[SPEAKER_01]: Go around and Brian and I brought up just a fun
22:01
[SPEAKER_01]: a prediction market gambling that's been going on for FIFA and you're like, well, how why does that matter?
22:06
[SPEAKER_01]: And it goes, well, the money goes where things are hot and entertaining and exciting and FIFA is the exciting thing right now.
22:12
[SPEAKER_01]: And now there's billions of dollars flowing in the prediction markets, which again, for sports is just literally gambling.
22:18
[SPEAKER_01]: It's sports gambling, call it what it is.
22:19
[SPEAKER_01]: So again, crypto is not the bell of the ball right now, but when it is, we've seen what it can do.
22:24
[SPEAKER_01]: So when prices are this low,
22:26
[SPEAKER_01]: education, understanding the market and understanding the opportunities and kind of, you know, planning your trade and trading your plan is a good time to be kind of taking notes and, you know, we say it all the time, right?
22:37
[SPEAKER_01]: We see it when everything's flying high and cryptos the bell of the ball are numbers are up.
22:42
[SPEAKER_01]: The live is a lot more crowded and the downloads are a lot more.
22:46
[SPEAKER_01]: We see it all the time, but like at the same time, it's right now.
22:50
[SPEAKER_01]: So if you're listening now, you're kind of in the right spot because you're getting the education, you know, you're looking where other people aren't looking and that that's where the opportunity lies a lot of the time because the flip side to Sandex Sandex going up 17x was a year ago, nobody was talking about it.
23:05
[SPEAKER_01]: They just thought it was, you know, a simple little card right here.
23:07
[SPEAKER_01]: I got one right here.
23:09
[SPEAKER_01]: Yeah, that that's sandous right there.
23:11
[SPEAKER_01]: That's everybody just called you through it in the cameras and that that was it That's all it's all it was and now it's now now this that was for digital cameras is the AI superstar Bell of the ball so nobody saw that coming a year ago, but that's you know There's a couple people that I guess called it made a bunch of money, but that's that's what it's like when you're trying to find Where the opportunity lies you know you want to be where other people aren't so I think we're in the right spot
23:36
[SPEAKER_00]: Yeah, no, I think you're right.
23:39
[SPEAKER_00]: Um, I know we have a lot of things to talk about here today.
23:41
[SPEAKER_00]: Tvo.
23:42
[SPEAKER_00]: Um, should we where should we move on to next?
23:45
[SPEAKER_00]: Should we just go?
23:46
[SPEAKER_01]: Yeah, let's sound like it's kind of like the it's why we think the market's struggling or not doing that.
23:51
[SPEAKER_01]: Well, let's let's jump over.
23:53
[SPEAKER_01]: Let's jump to because we talked about Bitcoin.
23:55
[SPEAKER_01]: Let's just jump into strategy.
23:57
[SPEAKER_01]: So strategy is really getting.
24:00
[SPEAKER_01]: really getting heated and I don't know I we've talked about this a lot it's hard for me to taking opinion either side I'm more fine it fascinating to cover with all this stuff but I think as you know the stretches is supposed to be at par so stretches one of the products for strategy that gives the dividend and it's it's supposed to trade it you know 100 as par and it's at E2 so almost you know almost a 20% drawdown there's 17% from its price target
24:28
[SPEAKER_01]: there's a lot of noise going on here.
24:29
[SPEAKER_01]: So what are you hearing?
24:30
[SPEAKER_01]: What are you reading?
24:31
[SPEAKER_01]: What are your thoughts?
24:32
[SPEAKER_00]: Well, I think it was about a week or two ago.
24:34
[SPEAKER_00]: I had a little bit of a rant on here with you where I was just saying, why I'm not a fan of stretch.
24:41
[SPEAKER_00]: Why I didn't, like as TRC, why I think, I was questioning some of the stuff the Sailor was doing.
24:46
[SPEAKER_00]: And big fan of Sailor, not as big a fan of some of the recent decisions.
24:50
[SPEAKER_00]: And just like there's a little bit of concern for me, and especially how they pay a dividend that they know that they can't generate.
24:57
[SPEAKER_00]: The only way to do that is to solve the assets that they have really, at least in their current
25:03
[SPEAKER_00]: just like in the current way that they operate.
25:05
[SPEAKER_00]: So I've been a little bit of a critic of this.
25:08
[SPEAKER_00]: The good news is it's bounced a little bit.
25:10
[SPEAKER_00]: I did see that its chart was bouncing off those lows because you're right.
25:14
[SPEAKER_00]: It did good on the 82 bucks which is crazy and it did day back up almost at 88-ish.
25:20
[SPEAKER_00]: Um, a bit of a bounce, but you know, that's basically all-time lows for stretch.
25:25
[SPEAKER_00]: This is something that's supposed to stay roughly around the $100 level.
25:29
[SPEAKER_00]: Uh, it does give me a little bit of fears as to what could happen.
25:33
[SPEAKER_00]: You know, are we going to need to, you know, raise the yield?
25:36
[SPEAKER_00]: Or are they going to need to raise the yield?
25:38
[SPEAKER_00]: Or are they going to need to sell more Bitcoin as a result of this?
25:41
[SPEAKER_00]: Is it going to cause panic selling?
25:42
[SPEAKER_00]: You know, one of the things I don't want to happen here.
25:45
[SPEAKER_00]: And this isn't an Apple's to Apple's comparison.
25:49
[SPEAKER_00]: What I don't want to happen here is a DPEG and Panic Sullivan kind of like what we saw back in 2022 with Terra Luna and I think it was a TUSD or whatever they had.
26:02
[SPEAKER_00]: I don't want to get a situation like that where it starts to DPEG and everyone starts to panic.
26:06
[SPEAKER_00]: Now granted different situation.
26:09
[SPEAKER_00]: If you look at like how their algorithmic stable coin worked, it's very different from how this word work.
26:15
[SPEAKER_00]: But I think the overall principle here of if you see more deep peg maybe you get pan-excelling if you get pan-excelling Could that lead into something else like I'm Yeah, I think it raises a little bit of concern.
26:29
[SPEAKER_00]: Am I freaking out about it now?
26:30
[SPEAKER_00]: You know, I've got no exposure to this might just general thought here is I'm curious to see how they handle this
26:41
[SPEAKER_00]: I don't know.
26:42
[SPEAKER_00]: I think a lot of our analysts over here, we've talked about it, and
26:48
[SPEAKER_00]: I think that they have to lower the yield at some point.
26:51
[SPEAKER_00]: But if the price is going down, then I think they're expected to raise the yield.
26:55
[SPEAKER_00]: So I'm not sure what's going to happen with this.
26:57
[SPEAKER_00]: I was just going to say, I think there's a healthy balance.
27:00
[SPEAKER_00]: There are posts out there like this that's like, oh my goodness, they're in their most dangerous phase yet.
27:04
[SPEAKER_00]: Im in it nuclear destruction at strategy.
27:07
[SPEAKER_00]: And it's like, all right, well, like, let's not.
27:09
[SPEAKER_00]: Let's not just beer longer.
27:11
[SPEAKER_00]: It's not that bad of doom and gloom.
27:13
[SPEAKER_00]: But I think that there is a reason there's a healthy balance.
27:16
[SPEAKER_00]: There's a place to kind of take a stance and say, Hey, there's there's things that are probably not going according to plan here and maybe there's repercussions with that and I think it's okay to kind of consider that and be prepared for that should it happen But I don't think it needs to be this horrible situation and get my stance.
27:33
[SPEAKER_00]: I don't really want to touch it.
27:34
[SPEAKER_00]: I don't have strategy exposure.
27:36
[SPEAKER_00]: I don't have S here.
27:36
[SPEAKER_00]: See exposure.
27:38
[SPEAKER_00]: I clearly have Bitcoin exposure, which is why I maybe get a little bit emotional about like when I'm talking about this
27:46
[SPEAKER_00]: as opposed to maybe a little bit more of an unbiased take, because I know that even if the off chance of something happens here, I know it's going to affect my holdings and Bitcoin, which obviously we have a decent amount of over here, you know, we're called crypto 101.
27:59
[SPEAKER_00]: So I want the best for Bitcoin.
28:02
[SPEAKER_00]: I just think that this adds leverage to the space and, you know, God forbid something happens.
28:08
[SPEAKER_00]: That's the last thing we need as another online.
28:11
[SPEAKER_01]: Yeah, and watching this strategy more from this buy and hold to the financial Alchemy of building these products has been interesting to cover, but yeah, I think I said on here, I think it was with Brian.
28:23
[SPEAKER_01]: I bought stretch just as like a, just a smickle of fun for journalism purposes.
28:30
[SPEAKER_01]: Let me see how this thing pays out.
28:31
[SPEAKER_01]: I just want to feel it.
28:33
[SPEAKER_01]: just a very, very like a gambling amount of sports gambling amount.
28:38
[SPEAKER_01]: And then what a deep pegged.
28:39
[SPEAKER_01]: I just like, I don't know.
28:40
[SPEAKER_01]: I kind of just like, ah, okay, this was fun experiment.
28:42
[SPEAKER_01]: I got out and went down lower.
28:44
[SPEAKER_01]: And it made me like kind of think about the whole process.
28:47
[SPEAKER_01]: And I was like, I kind of just think in a way, he's trying to be so creative.
28:52
[SPEAKER_01]: But it's like, it is at the end of the day.
28:54
[SPEAKER_01]: Like, it is a little bit of a shell game of like your borrowing future returns to kind of create this financial
29:02
[SPEAKER_01]: In a sense, but I think you're also making so much noise and you're doing it with so much money that you're almost putting a target on your back and it's like sure you have the spit coin community that's rallied around you for a long time But now you're you know as you've grown and you've bitten more you've done more products now you're changing your tune from like why wouldn't sell my Bitcoin you shouldn't sell yours, but strategy can
29:24
[SPEAKER_01]: To do these products and maybe you're putting a little target on your back for like other hedge funds to kind of go and try and you know I don't know of manipulates the Martin this is the right word, but you're gonna try you know people might want to take the other side of the trade
29:39
[SPEAKER_01]: And they understand kind of where your break even point for your big coin trade is or they understand like, okay, maybe we can borrow some stretch and short that make people panic and you know, when you're doing all this financial alchemy, you know, there's there's two sides of a trade right that's what makes a market and maybe you're kind of opening yourself up for some enemies more than just kind of laying out this perfect path to to Vahala if you will.
30:09
[SPEAKER_00]: Yeah, no, I think you're right, and they just, yeah, I mean, they just got to be careful.
30:13
[SPEAKER_00]: Like, again, it's not like it's this imminent bomb, not yet, but I just want them to be careful with it.
30:20
[SPEAKER_00]: Don't want anything bad to happen to the crypto space.
30:23
[SPEAKER_00]: So that's where all this conversation comes from.
30:26
[SPEAKER_00]: But the sake of time, I did just want to run us through what I thought were the six catalysts that are affecting the market because we looked at the technicals and this was catalyst number one, I think just strategy selling STRC starting to depay to the downside to all time lows.
30:43
[SPEAKER_00]: Just the strategy angle is one of these TV.
30:46
[SPEAKER_00]: So you have a strategy in trouble and people getting a little bit nervous over there with some of their decisions and some of the stuff that's happening.
30:53
[SPEAKER_00]: I think that's one of the catalysts affecting the market.
30:56
[SPEAKER_00]: I think the other one is one that we mentioned towards the beginning, which is just the federal reserve stuff.
31:02
[SPEAKER_00]: you know, where they stand, are we going to get hikes, someone certain to you?
31:06
[SPEAKER_00]: So that's a little bit of a catalyst as well.
31:09
[SPEAKER_00]: The other thing is not something that we've seen as much recently, but something that we've seen a lot in the past, which was big liquidation events.
31:17
[SPEAKER_00]: Again, something that we saw, started this year end of last year, a lot less as of recently, minus, you know, obviously we had a pretty big move down, which was some liquidations about a month ago.
31:28
[SPEAKER_00]: But beyond that, I think the other one here is the Clarity Act, right?
31:31
[SPEAKER_00]: People want this to happen.
31:33
[SPEAKER_00]: There's not a ton of progress.
31:35
[SPEAKER_00]: There's rumors that it'll happen around July 4th.
31:38
[SPEAKER_00]: We'll see.
31:39
[SPEAKER_00]: It feels like it keeps getting pushed back.
31:41
[SPEAKER_00]: Obviously, J.P. Morgan, Jamie Diamond, have been fighting for the way that they want it.
31:46
[SPEAKER_00]: Brian Armstrong has been fighting for the way that he wants it.
31:49
[SPEAKER_00]: This is kind of caused a stalemate and so no clarity act has been kind of cattle's number four here and then the final two that we'll talk about is that I think AI and these big
32:00
[SPEAKER_00]: IPOs are probably sucking liquidity out of the market and money is just going in the different areas and playing the volatility when you have something as large as SpaceX which IPOs at, you know, 130 bucks or whatever it was and then almost doubles within the first two or three days of trading and that's a what $2 trillion stock on the top 10 company
32:27
[SPEAKER_00]: And like if you can get that level of volatility with a name that large, like that is sucking so much liquidity out of other areas.
32:36
[SPEAKER_00]: And then, the final cattle is six, which we can, I think you are actually already through the chart above, which is ETF outflows.
32:43
[SPEAKER_00]: We've seen a decent amount of ETF outflows.
32:45
[SPEAKER_00]: This post says it really well, but both US spot, Bitcoin and Ethereum ETFs have been facing persistent outflows since May 7.
32:57
[SPEAKER_00]: But since then, you've seen around $6.2 billion in net outflows on Bitcoin while Ethereum seen almost $1 billion in outflows.
33:08
[SPEAKER_00]: So pretty consistent outflows happening here in the last, almost what month and a half, two months, ish, and that's also been something that's affecting the market.
33:21
[SPEAKER_01]: It's a great point in the kind of transition us into the fed.
33:25
[SPEAKER_01]: We had the first fed meeting with Kevin Worsh or new fed share and I thought it was really interesting because the markets were definitely digesting it and I pulled up this tweet here of kind of like the top, the top points he made, the one thing that I wanted to point out and something that will continue to cover as you know new data or new meetings come out and new notes was
33:47
[SPEAKER_01]: This is a fed that is is going to change things up, which is really interesting because again the fed is an appointed position But it's something that you know, we've lived with you know, I think it's what then six eight years.
33:57
[SPEAKER_01]: So it's like through COVID through this crazy inflation era And now there's a change and I think one of the coolest things is that we're the one I don't know if cool is the right word, but one of the most interesting things that we've talked about in this show was hey the feds always using like
34:11
[SPEAKER_01]: backwards data.
34:12
[SPEAKER_01]: It's like, you know, the PPI, the CPI, it's a month old.
34:16
[SPEAKER_01]: And the weightings are off.
34:17
[SPEAKER_01]: It's, you know, whether it's gas, oil versus housing.
34:20
[SPEAKER_01]: It's like the weightings are off.
34:22
[SPEAKER_01]: And I think the most interesting thing that Kevin said yesterday was that they're going to be changing kind of the way that they're digesting inflation, which I think is really, really interesting.
34:31
[SPEAKER_01]: They want to be forward looking.
34:33
[SPEAKER_01]: So kind of adding a new process is something really interesting.
34:37
[SPEAKER_01]: He mentioned how he watches the stock market.
34:39
[SPEAKER_01]: He is
34:42
[SPEAKER_01]: Um, so I wonder if, uh, if we're all being honest and especially with the war and oil, it's okay inflation's rising and so you get all these, you know, all the other Fed governors give you these dot plots and it's kind of like people are leaning towards a hike from what they see now.
34:58
[SPEAKER_01]: will that happen?
34:59
[SPEAKER_01]: I don't know.
34:59
[SPEAKER_01]: The market is pricing in a hike.
35:02
[SPEAKER_01]: I don't think it's to the point now where it's so crazy, especially with the new fed share that you don't know what's going to happen.
35:09
[SPEAKER_01]: But I think they're a little bit more data.
35:11
[SPEAKER_01]: They're going to be very, very forward data dependent.
35:13
[SPEAKER_01]: And so because he watches the market so much, maybe he would do instead of even just a real hike, he might like jawbone a little bit more like talk, quote unquote, talk the market down if it got a little head of itself.
35:25
[SPEAKER_01]: But the market was digesting all this verbiage.
35:27
[SPEAKER_01]: So he spoke
35:28
[SPEAKER_01]: then the market sold off and then it bounced back yesterday.
35:32
[SPEAKER_01]: So I thought it was really interesting and it wasn't a negative or a positive.
35:36
[SPEAKER_01]: I think it's just there's a digestion period for this new verbiage.
35:39
[SPEAKER_00]: I'm, I think this is so needed.
35:41
[SPEAKER_00]: I think that the Fed needed to change up how they look at data and what data they look at, and I'm excited to see this.
35:48
[SPEAKER_00]: I, I kind of agree more.
35:50
[SPEAKER_00]: This is overdue.
35:51
[SPEAKER_00]: The way that they look at stuff is so outdated.
35:53
[SPEAKER_00]: He's talked about maybe using trueflation metrics to look at like over a thousand or 10,000 different things.
36:00
[SPEAKER_00]: and to get a better understanding of what's going on.
36:04
[SPEAKER_00]: And I think he's looking at it the right way.
36:06
[SPEAKER_00]: Like the way that they did things before, I think was frustrating the people.
36:11
[SPEAKER_00]: And it didn't felt like it gave people a proper image of what's going on.
36:16
[SPEAKER_00]: I know for what it was it last year, Tiva, we would laugh about it because we'd look at these reports and be like, oh inflation's high because of like auto insurance or something crazy.
36:25
[SPEAKER_00]: And that was like a big keeping moment.
36:29
[SPEAKER_00]: That was like, well, inflation is actually doing pretty well.
36:33
[SPEAKER_00]: When you factor out some of these stupid causes that were contributing to it.
36:38
[SPEAKER_00]: And when you look at true inflation, it hasn't been as bad as I think people expect.
36:43
[SPEAKER_00]: Again, you have these few volatile areas.
36:48
[SPEAKER_00]: But that's exactly what they are, you know, they're volatile, they go up, they go down.
36:51
[SPEAKER_00]: You see that a lot in food and energy and maybe some other areas, but I'm excited, man.
36:57
[SPEAKER_00]: I think, again, this is not a political thing.
37:01
[SPEAKER_00]: Obviously, the Fed shouldn't ever even be a political thing, so I hate that I haven't have to say that because people just think that now.
37:06
[SPEAKER_00]: But I think that regardless of that, if you're looking at it from like an economic standpoint, the Fed needs to be updated, they need to have some of these changes.
37:14
[SPEAKER_00]: I think it's for the better.
37:16
[SPEAKER_00]: No, we'll see what those are, right?
37:17
[SPEAKER_00]: We don't know quite yet, but, you know, we're just getting to cover.
37:21
[SPEAKER_01]: It'll be interesting to cover for our show and just the market general as we move forward into the rest of the year.
37:28
[SPEAKER_01]: And he kind of said that the old way of doing it was stupid and, you know, it's just one of the things that need to be, needs to be updated as the world grows.
37:37
[SPEAKER_01]: But you know what is stupid, Brendan?
37:39
[SPEAKER_01]: The Illinois's tax that they just signed.
37:44
[SPEAKER_01]: Oh my god, it's the most aggressive crypto tax we've seen.
37:48
[SPEAKER_01]: Nothing comparable to stocks, bonds or anything.
37:52
[SPEAKER_01]: It's starting in 2027.
37:53
[SPEAKER_01]: The state's going to impose a 0.2.
37:56
[SPEAKER_01]: So a 0.2 tax on the gross value of digital assets exchange transferred or stored for customers.
38:04
[SPEAKER_01]: If you buy Bitcoin or tax, if you transfer Bitcoin or tax,
38:08
[SPEAKER_01]: Hold it with a custodian, your tax, no profit required, no capital gain, just moving it, triggers the tax.
38:14
[SPEAKER_01]: So an example of this would be moving $1 million through a bank or a brokerage, nothing happens.
38:21
[SPEAKER_01]: But if you move that same $1 million as a digital asset, the state is going to take $2,000 from you.
38:27
[SPEAKER_01]: This sends a lot loud message.
38:29
[SPEAKER_01]: We don't like digital assets.
38:31
[SPEAKER_01]: If you have a company there, we don't want you here.
38:34
[SPEAKER_01]: Um, again, it is, I guess a small in a way, but it seems it's definitely picking.
38:39
[SPEAKER_01]: It's picking on on the digital asset community.
38:42
[SPEAKER_01]: So this is, I don't know how it's a big deal for overall, like for the industry.
38:48
[SPEAKER_01]: I just feel like if you live in Illinois or if you buy it, if you're growing, if you're trying to grow like a digital asset business, this feels pretty wild.
38:57
[SPEAKER_00]: Yeah, well, yeah, I mean, especially if you're transacting a lot, it doesn't sound a lot if you're just holding.
39:02
[SPEAKER_00]: But if you're actually trading and transacting a lot and you're getting taxed, 0.2% for every single time you do that, it adds up, I mean, pretty freaking fast.
39:12
[SPEAKER_00]: I, I'm the legal expert, Tiva.
39:17
[SPEAKER_00]: I would be shocked if that's not contested in court.
39:21
[SPEAKER_00]: I have a feeling that
39:25
[SPEAKER_00]: It depends on obviously how is crypto classified, which gets what the Clarity Act should help with, but we probably don't have an answer to this, but depending on how it's being classified as, I'm not sure that that's maybe it is legal.
39:39
[SPEAKER_00]: I don't know, I'm not a legal expert.
39:41
[SPEAKER_00]: I would be shocked if someone doesn't contest that in court, but maybe they need the Clarity Act to be finished before they even do that, because maybe there's not Clarity as to how
39:49
[SPEAKER_00]: this shift, this stuff should even be done.
39:51
[SPEAKER_00]: But, um, we're in your right.
39:54
[SPEAKER_00]: I think it does send a message and anyone that is there and like script that will probably have to move.
40:00
[SPEAKER_01]: Yeah, it will be hard.
40:01
[SPEAKER_01]: Right.
40:01
[SPEAKER_01]: All chunks says the laws bad.
40:03
[SPEAKER_01]: Obviously, uh, and Coinbase has 1.5 million customers aka voters in Illinois.
40:09
[SPEAKER_01]: Um, so Brian Armstrong saying, hey, the Boston Tea Party.
40:13
[SPEAKER_01]: that a revolution over taxing the tea.
40:15
[SPEAKER_01]: So what are you going to do with this hair and Illinois's about your your crypto.
40:20
[SPEAKER_01]: It'll be interesting to follow that one agree what gets contested in court.
40:24
[SPEAKER_01]: But all the more reason why we need the clarity after, right?
40:26
[SPEAKER_01]: To give us some rules of the road.
40:30
[SPEAKER_01]: We had a coin base update here.
40:32
[SPEAKER_01]: Again, coin base just kind of
40:35
[SPEAKER_01]: transitioning to try to be that all in one brokerage right i mean starts with crypto and then you know adding tokenized stocks uh the tokenized stocks Brian was saying Brian Armstrong was saying uh you know a true one to one uh you're getting your one share of real stock for tokenized stock or game the dividends um yeah there i mean they're just trying to go into the all in one brokerage uh with all these offerings
40:59
[SPEAKER_00]: Yeah, they're getting pretty aggressive with it.
41:01
[SPEAKER_00]: I mean, lots of things, right?
41:03
[SPEAKER_00]: Pre-IPO Purps, tokenized stocks, stock options, crypto options, perpetual contracts for indices.
41:10
[SPEAKER_00]: I mean, the list goes on here.
41:11
[SPEAKER_00]: You're right, they're trying to become a bit of an all-in-one player.
41:15
[SPEAKER_00]: But I think they have to be, because you have all the traditional financial institutions and brokerages which are allowing crypto trading
41:21
[SPEAKER_00]: So if they're going to allow crypto trading, then that's just a one way street that's taking market share.
41:26
[SPEAKER_00]: So I think they have to say, no, let's make this a two way street if you're in a steel arm market share, we're going to come after yours.
41:32
[SPEAKER_00]: We'll see how it works out.
41:34
[SPEAKER_00]: I like that they're being pretty forward looking about this and trying to integrate new and developing technologies.
41:43
[SPEAKER_00]: You know, they talk about agents and AI and other things in here as well, but
41:46
[SPEAKER_00]: Um, yeah, they got that.
41:49
[SPEAKER_01]: Yeah, so I mean, it's a huge race, right?
41:51
[SPEAKER_01]: You have the old guards and then the new ones being, you know, I think interactive brokers is kind of new.
41:56
[SPEAKER_01]: You got public.
41:58
[SPEAKER_01]: I'm trying to get the public CEO to come on.
42:00
[SPEAKER_01]: Hopefully that can happen this summer.
42:02
[SPEAKER_01]: Um, Robinhood obviously in Coinbase kind of all just trying to position themselves with inside in the old guards lanes and there's a lot of innovation going on.
42:11
[SPEAKER_01]: So it would be interesting to keep.
42:13
[SPEAKER_01]: keep track with that.
42:15
[SPEAKER_01]: Let's end on some good news.
42:17
[SPEAKER_01]: Any questions in the comments before we wrap up now's the time to toss them in there.
42:20
[SPEAKER_01]: But Brendan, I have two good news.
42:23
[SPEAKER_01]: Really want some good news.
42:25
[SPEAKER_01]: ETH, the supply, the uh, staking rate keeps breaking new all-time highs.
42:29
[SPEAKER_01]: Meaning, yes, there's been a lot of selling and eats, but the people that are holding are staking, which means uh, they want to, they want to hold for a fair amount of time and
42:41
[SPEAKER_00]: Yeah, this is putting it at all time highs here, which is a good thing to see, right?
42:46
[SPEAKER_00]: It's taking right continues.
42:47
[SPEAKER_00]: What does this mean?
42:49
[SPEAKER_00]: Well, this basically means that people are positioning themselves for the long term.
42:53
[SPEAKER_00]: When you stake youth, it's not like a little short term thing, but it's people saying, hey, we're positioning for the long term.
42:58
[SPEAKER_00]: They're not interested in selling.
43:00
[SPEAKER_00]: They're interested in holding.
43:03
[SPEAKER_00]: Typically, when you see youth get
43:05
[SPEAKER_00]: You know, when you get this lower, it might mean, hey, people are taking an out because maybe they want to transact in it, maybe they want to sell some, but no, you're seeing people position for the long term here is almost a third of all eat this being state, which is a cool thing to see.
43:29
[SPEAKER_01]: really leaning into the crypto ETF game.
43:35
[SPEAKER_01]: Traditionally, Morgan Stanley doesn't have a ton of ETF, so we kind of talked about this one.
43:40
[SPEAKER_01]: The Bitcoin one went live.
43:41
[SPEAKER_01]: We had a lot of great stats around it, but Morgan Stanley's not really in the ETF game.
43:46
[SPEAKER_01]: And so that means that they're doing this because they want to give it to their clients.
43:50
[SPEAKER_01]: Clearly, they don't want to recommend crypto exposure and then have to go buy the BlackRock ETF.
43:56
[SPEAKER_01]: or any other ETFs that are out there, they want to create their own, but they're also not in the ETF game.
44:01
[SPEAKER_01]: You don't see them filing left and right on ETFs and memory in this net.
44:05
[SPEAKER_01]: So the fact that they're picking some cryptos here kind of leans into that, you know, hey, these financial advisors are sitting down with all generations of people on saying, hey, maybe one to three to five percent, depending on the risk tolerance is what we should allocate to this industry.
44:20
[SPEAKER_01]: So,
44:21
[SPEAKER_01]: Again, price action volatility from week to week month to month and even sometimes year to year you get caught up in it But I think there's a bigger there's a bigger game at play which we've been kind of pitching throughout our lifetime on this show in our program and our community And stuff like this is what really hammers at home for me is like hey, I don't really think this industry's going anywhere even though you have the high of the highs and you get in the low the lows
44:48
[SPEAKER_01]: you know, that this thing's on a track that that kind of just keeps chugging along.
44:52
[SPEAKER_00]: Yeah, exactly.
44:53
[SPEAKER_00]: You know, there's more ETFs coming out.
44:55
[SPEAKER_00]: You have new groups that are launching them, typically.
44:59
[SPEAKER_00]: I know we we're talking earlier about the outflows that are happening, but typically again, ETFs do bring net inflows over the long term for the most part.
45:09
[SPEAKER_00]: But
45:10
[SPEAKER_00]: Yeah, time will tell.
45:11
[SPEAKER_00]: I think overall this is a plus, right?
45:13
[SPEAKER_00]: You know, if more people can get access to it, more people can buy the dip on it, more people can own them.
45:18
[SPEAKER_00]: Um, so excited to see this from a pretty large name.
45:21
[SPEAKER_00]: Yeah.
45:22
[SPEAKER_01]: And then thanks to everybody in the chat.
45:24
[SPEAKER_01]: We got banded.
45:25
[SPEAKER_01]: The band.
45:25
[SPEAKER_01]: It was back.
45:26
[SPEAKER_01]: Good to see the band it.
45:27
[SPEAKER_01]: A Matt Beaver saying thanks as well.
45:29
[SPEAKER_01]: Thank you, Matt.
45:29
[SPEAKER_01]: And then MW saying does the podcasts have a regular airtime?
45:33
[SPEAKER_01]: Not not too quiet.
45:35
[SPEAKER_01]: No, we always publish something on Tuesday, whether it's an interview or a rundown.
45:38
[SPEAKER_01]: But because we're so busy inside the community.
45:41
[SPEAKER_01]: But we also want to get you guys as much content as we can.
45:43
[SPEAKER_01]: We have to kind of be fluid with the the rundown.
45:46
[SPEAKER_01]: Sometimes we try to do one most Fridays.
45:48
[SPEAKER_01]: I think live.
45:49
[SPEAKER_01]: And I need to be better, but in the community tab of YouTube, I will try and post them or going live.
45:57
[SPEAKER_01]: But you know what you can do, subscribe and hit the bell.
46:00
[SPEAKER_01]: So there's a bell notification when you subscribe a little air.
46:03
[SPEAKER_01]: So click that, hit the notification tab so that'll get you notified when we post a new episode.
46:08
[SPEAKER_01]: every week and we try to do between two and three episodes a week so if you guys enjoyed this on this Friday morning a little coffee and crypto with me and Brendan please give this video a thumbs up send it to a friend and if you're not subscribe we really appreciate everybody tuning in we hope you have a great weekend and we'll talk to everybody next week but that's all for now bye everybody