Latest / The Paul Barron Crypto Show / Bitcoin Climbing To $65,000 Next?🔥Crypto Market Update

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Bitcoin Climbing To $65,000 Next?🔥Crypto Market Update · The Paul Barron Crypto Show

0:07
All right, so let's dive into it today. We're going to talk about
0:10
bitcoin and it's run here over the weekend. Of course, obvious things happened
0:14
and it started to drive a little bit of this and we'll get into all
0:16
that for you guys. You don't want to miss it. My name is
0:18
Paul Barren. Welcome back into tech Path. I want to thank our sponsor
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down below. All right, So let's get into a few points here today.
0:50
I want to hit on a couple of things. First, of course,
0:52
everybody knows what happened over the weekend. Trump of course gets an assassination
0:57
attempt. This is crazy, getting shots fired. Of course, just the
1:03
picture of that alone, I think was probably enough to kind of take a
1:07
look at the next most I think freedom resonating thing with Americans, and that
1:12
is finance. And of course Bitcoin has had a pretty significant move over what's
1:19
happened over the weekend, and everybody kind of anticipate a little bit of this.
1:23
There is a buying pressure though that's overwhelmed both network and the market as
1:26
bulls go on a little bit of a crazy spreed. Let me zoom in
1:30
on this right now. Trump being the catalyst. The failed attempt on Trump's
1:33
life start of the weekend set off a rally and crypto prices. This could
1:37
be a looked at a couple of different ways. I'll kind of paint this
1:41
out, but the flow is unusual for Sunday evening in the US, and
1:45
they believe that the market pricing is in a Trump win in the coming election.
1:48
Big question now is will the bulletsh trend continue. Two factors that I
1:52
think play into this, and this is something that we should be considering on
1:57
a long term basis, and that is this situation of the political environment being
2:01
so volatile right now and looking at the global macro side of things, and
2:07
that means other countries peering in on the US and seeing this kind of disarray
2:12
that we're having. Is that starting to push people into other assets other than
2:16
the dollar. That's a question mark I think a lot of people will look
2:20
at. I know it's not necessarily going to happen today, but I think
2:22
we'll be watching things and possible strategic moves by bricks over the next little bit.
2:27
So could be some very interesting times ahead here in the next little bit.
2:31
Trump media group this of course, True Social also took a spike up
2:36
twenty one percent overnight markets open first time since the assassination attempt, and then
2:42
of course Trump just stood up and raised his hand after getting shot. So
2:45
now, of course, with that, his odds on polymarket explode into a
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sixty five percent chance of winning the presidential election for twenty twenty four. All
2:55
of this playing into the hands of crypto and I think this is a positive
3:00
thing when you look at not only the announcement of his vice president, but
3:04
also just the potential opportunities here that represent I think a different perspective on what
3:13
is happening in the blockchain market. What I mean by that is an administration
3:15
that will be pro blockchain technology, digital assets bitcoin versus one that we've been
3:22
facing, which has been very much against here. Course was jd Vance was
3:27
just seeing leaving his house in a motorcade. We now know he's been selected
3:30
as the vice president running mate for mister Trump, and that I think is
3:36
a good one because this again is another positive in the crypto category in terms
3:42
of jd Vance understanding a little bit more around kind of the current state of
3:46
the finance industry today, but also just Jada Vance is a very i would
3:51
say pro crypto candidate when you look at at some of his voting but also
3:57
some of his past discussions. Remember he was one of the guys that went
4:00
head to head with Gensler. For sure. Germany of course has stopped well
4:05
finally stopped there selling a bitcoin. And now ironically, I think I saw
4:11
some stuff over the weekend where people were sending them bitcoin now just as a
4:15
joke obviously, but global uncertainty now rising after the assassination, Trump attempt on
4:19
Trump ideal climate for bitcoin to go up upwards, and I think that is
4:25
the bigger picture here, because people are going to be looking at the US
4:29
in a very very different way. The coming months will be critical in how
4:33
the US responds, and I'm talking about voters, both bipartisan approaches toward campaigning
4:41
and the rhetoric that has been a problem here in the United States, which
4:45
obviously led to what we saw over the weekend. I think a lot of
4:47
that is being looked at by the rest of the world, and within that,
4:51
you have to think the most dominant power in the world, the currency
4:58
that pretty much is the currents when you look at overall growth GDP, all
5:03
of the things trending and have been trending for the United States. Now many
5:08
people could look and say, well, this is only can put Trump on
5:10
that White House. But again, this creates a very uncertain playing field I
5:15
think in the political landscape going forward, which is why I think many more
5:18
people will continue to look at alternative assets as a hedge, possibly against the
5:23
US dollar, maybe against the United States as a whole. Of course,
5:27
Now remember the Bitcoin conference still happening here at the end of the month.
5:30
You have Sailor coming in. Why didn't we put Trump number one? I
5:32
understand there, but you got Sailor Trump, Russell Brand, Kathy Wood,
5:36
RFK Junior, Edward Snowd. I'm sure we'll come in and remote. Vivek
5:42
will be there, Anthony Scaramucci and then of course Austin are They will be
5:45
there as well. But the cool thing is that Trump is still going to
5:48
be speaking there. I think this will be a massive push for digital assets.
5:54
I think we will see more and more people being drawn to what Trump
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is doing next over this next thirty days because of this event over the weekend
6:03
that has happened, the assassination attempt, I think will put all eyes on
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the candidate and going forward, So his statements in this period of time are
6:14
going to draw more and more attention then maybe we would have drawn ironically without
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that. So it's gonna really kind of change I think the trajectory of how
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this campaign looks. Blackrock, of course passes ten trillion in assets under management.
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This is pretty big because they are blaming that on ETF inflows and say
6:34
in a good way. And I heard think On today was talking about the
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amount of growth that they've had with essentially the same staff, and he credited
6:43
technology as being the number one thing. Organic growth driven by private markets,
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retail active fixed income surging inflows into our ETFs had their best here on record.
6:53
We know what that means. It's the Bitcoin ETF right there, leading
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thirty two point five percent market share among all US bitcoins. ETF still the
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number one out there. So I think this is only a good sign for
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Bitcoin. Whether we see a retlacement or you know, an adjustment or possibly
7:10
a slowdown, I anticipate we're going to continue to see some pretty active markets
7:15
over the next few weeks with both Bitcoin and of course a lot of the
7:17
all coins. We'll get into a hand full of those in terms of the
7:20
charts. Don't forget. If you guys want some questions answered, drop them
7:26
in over on the side and I'll try to get to as many as I
7:28
can, and also mix sure and like and subscribe. This is one of
7:31
the things that we ask you to do because this is really an opportunity for
7:34
education. It's an opportunity for people to understand what's happening in the crypto market
7:39
and how it's connected so much to not only the political landscape, but the
7:43
future of finance. And I think anybody you know on the planet should be
7:47
educating themselves in digital assets right now. So just by hitting like, you're
7:53
going to send this up in the algorithms and people out there that have never
7:58
done anything in crypto, are going to get a chance to learn a little
8:00
bit more. I want to go to a clip though. This clip is,
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of course mister Larry Fink talking about bitcoin. Take a look. You
8:07
made it so that people can be in bitcoin. Maybe something wrong? Term
8:11
people should have absolutely how was the proud scaptech? And I studied it,
8:18
learned about it, and I came away saying, Okay, I believe bitcoin
8:22
is legitimate that allows you to have maybe uncorrelated, non correlated type of returns.
8:28
It is an instrument when you believe that countries are debasing their currency,
8:33
debasing their currency by excess deficits. And so I'm a major believer that there
8:39
is a role for bitcoin in portfolios. I look at it as digital gold,
8:45
as I said before, and I think a lot of people are missing
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that. I couldn't read more. I changed my mind about it what you
8:52
did. My thinking was like, oh, I unbelieving it. So I
8:54
can't believe it. I want to thank Larry. All right, So breaking
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news out there guys right now, And that, of course is the update
9:01
on Nate Garassi's attempt that we would see a big or excuse me, an
9:05
eth ETF happening, and right now we're hearing SEC finally gotten back to the
9:09
issues today asking them to return final last ones Wednesday, including fees, then
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request effectiveness on Monday after the close for a Tuesday seven twenty three. This
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will happen right before the Bitcoin conference, so interesting timing for an eight ETF
9:26
launch. Obviously we'll see ethereum start to move quickly. I'll look at the
9:30
charts here in a short bit. But that's huge news, huge news,
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a lot of new nuances I think that are going to paint into the market
9:37
right now. Question is is does this put eth on a trajectory that does
9:43
not stop in this bull run? In other words, guys, is this
9:46
the beginning of the true run? Two all time highs that we may be
9:50
looking at and have been watching for for quite some time. I'm going to
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go to another clip because this clip will get into Larry Fink talking about the
9:58
election and also where the growth could come from on the private sector. Take
10:03
a look, right. But I do think it's important also that President Trump
10:07
has been adamant that there's been way too much regulation under President Biden. So
10:11
I have to believe that you would say that the business would be more on
10:16
the business would be unfettered, and if they're unfettered, that could help the
10:20
growth, which is therefore lower the depths. We need unfettered businesses right now.
10:26
We need growth, and we're going to get growth from the private sector.
10:28
We can't rely on public deficits anymore. The public deficits are just growing
10:33
too fast as a percentage GDP. As a perspective, our deficits were only
10:39
eight trillion dollars in twenty twenty. They're going to be a twenty six trillion
10:43
dollars a thirty six trillion dollars. We grew a deficits more than a trillion
10:48
dollars a year over the last twenty four years. This is unheard of.
10:50
It is at an unsustainable level. Yet we have the most dynamic capitalistic system
10:56
in the world. We have great company, we have great ingenuity, great
11:01
technology. Let it unbound, let it go, create great jobs, create
11:05
opportunities, and we'll have a rising equity market that will really fuel this opportunity.
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All right, So some very key statements there from Larry Fink, and
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what he's talking about is that the only way out of the problems that we're
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facing in terms of the deficit is really technology. And if you think about
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the innovation of technology and what Fink understands now around blockchain, it's clear he
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means ethereum. Guys. He's talking about the ecosystem of Ethereum and what it
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means for the future of a lot of the tech advancements that could occur here
11:39
in the United States. And if we get an administration, which I think
11:41
we will, that starts to support this, and I'm talking about all digital
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assets, the growth, the innovation, and the number of companies that could
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come out of this, this could be the next true Silicon Valley launch period
11:54
in time, if you look back into the mid nineties, this could be
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the zone we've been looking for a short period of time. Just taking a
12:01
quick look at Ethereum right now on our MSI, which is our own indicator.
12:07
Now, if you guys are not part of our Diamond Circle, you
12:09
can actually get this indicator by using or joining up with the MSI or one
12:13
of our mastermind groups. But right now, exploding top line sentiment starting to
12:18
break over for Ethereum at fifty five percent, so up significantly, and of
12:22
course our indicators now starting to look pretty strong. Money flow just now bodoming
12:28
out could be a reversal right here on Ethereum up for almost five percent on
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the day. Anticipate we're going to see some more action with that. All
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right, Moving on to Eric Balshonness. He was talking about how big of
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a deal it is for LARRYUS Fink, who runs a ten trillion dollar management
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company, keeping and giving these full throated endorsements not only of bitcoin, but
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I think the real endorsement here is really more around the technology of digital assets.
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And remember so can I securities are a big part of this in the
13:00
future. What is Biddle well stoken I securities and it's on Ethereum. If
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you guys haven't seen our Biddle videos, go back and look at those.
13:07
It's buidl and check those all out, because it'll give you We did an
13:13
interview I think with our CEO, Carlos Domingo. It'll give you an understanding
13:18
of where Fink is going. And I think this is just a bigger picture
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for not only black Rock, but I think for all of Wall Street kind
13:24
of going to the next level in terms of the finance sector really understanding what
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this means. US Wales institutional bitcoin purchase is now increasing again. I did
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not anticipate this to slow down. Which had a selling trend recently is now
13:39
become a buying trend. Bitcoin rebound on the weekend means additional funds and expected
13:43
flow into the bitcoin spot ETF. And I think the factor here again is
13:48
how secure are we as Trump being the next president of the United States if
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that is going to be the case, if we do get that as the
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number one position for digital assets, and shifting the dynamics around what the White
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House has really positioned as their their position on blockchain and on crypto in general,
14:09
this is going to get very interesting all the way up to November.
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So beyond the lookout, guys, we've got a lot happening, for sure.
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Yeah, so there's Nate, he was anticipating, he called it.
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He called it dead on, pretty much dead on. Next point being the
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twenty third, So beyond the lookout for that, I'm kind of curious,
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guys, what do you guys think in terms of the inflows for ether ETF
14:31
for the ETHTF. Do you think it will have a significant percentage of what
14:35
we've seen with the bitcoin ETF as popular or as successful. I believe it
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will be, but i'd love to get your opinions. Drop some comments down
14:43
below. Ethereum set to soar, Crypto market conditions now hit a big moves
14:48
post ETF approval of this now being the case, and I think this is
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going to be the scenario that plays out for Ethereum. A lot of volatility.
14:56
Short term options contracts off all also have increased significantly past RINK week,
15:03
and of course Ethereum options expiring on July nineteenth now and the twenty six have
15:07
the most pronounced changes. So we'll see how that plays out. In case
15:11
traders are willing to pay more has their positions and protect against short term price
15:13
wings reflect reflectively or reflecting a market uncertainty, I don't know that that is
15:20
going to be the case, and what I mean by that is no longer
15:24
market uncertainty around this. This is all playing to the right direction. Remember
15:28
we also got a good CPI reading last week. The likelihood I don't think
15:33
we'll see it this month, but it's the likelihood of a September rate cut.
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This could if we see a two percent anything in the twos on CPI
15:41
on the next print, I think September is the date and that would be
15:46
a very intriguing time for a rate cut going forward. As I said,
15:50
don't forget to put in some of your questions. We'll try to get some
15:54
of those in here at the end and going our invest trims or coin base
15:58
holdings. Right before the Q two report and then wham. Of course we
16:02
all know what's been going on there. Kathy sold about two thousand coin basse
16:06
shares, not a lot, but you know, not bad, four hundred
16:08
and fifty about four and fifty thousand before the report. This decision follows a
16:12
bitcoin price negative market move that of course has changed despite this optimism for recovery
16:18
due to potential FED rate cuts. This is the bigger picture that I think
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that I still don't understand why many times this is just you know, traditional
16:26
moves within what happens with a lot of these asset managers just taking profit on
16:30
certain things. Remember they're playing with other people's money, So you're going to
16:34
have to consider that. Here's the combined coinbase holdings right now on Kathy.
16:41
As she continues to push down, price continues to intersect up, and maybe
16:47
we start to see some real movement on this as well. In terms of
16:51
coinbase as stock. I want to go to another clip here real quick,
16:55
and this next clip is going to get into Kathy Wood talking about why houses
17:00
getting ready to get in the game. Take a look Morgan Stanley, ubs
17:03
Wells, Fargo, Bank of America, Merrill Lynch. Not one has put
17:10
bitcoin on its platform yet, a bitcoin ETF. They're all doing their due
17:15
diligence, and I think what's going to happen is within the next few months,
17:22
one will and it may be not the big ones. It may be
17:26
an independent ri a like LPL. They tend to move a little more quickly.
17:33
The others will fall in line pretty quickly. It was so funny.
17:37
My mom was like, where do I put my retirement money? I said,
17:40
put it in a bitcoin ETF. And I said, you know who
17:44
manages for you, says Merrill Lynch. Let me talk to your Merrill Lynch
17:47
person. We were not allowed to do that. And I'm like, Mom,
17:49
change who manages your money? Please? Well, any any of the
17:56
big ones, she's not going to have any better luck. But you can
18:00
go to an online broker, robin Hood and others, and they tend to
18:06
be a little bit more adventurous. We were told by some of our prospective
18:10
clients the platforms themselves that they would need six to nine months to evaluate it.
18:15
So here we are entering the six month So I would expect in the
18:22
fall one or more will put the aspot Bitcoin ATF or many of them on
18:26
their platforms, and I think that will be the next wish then. All
18:33
right, So a few things she outlined in that, of course, is
18:36
the framework that is going to be built through the financial communities that of course
18:41
will ride on ethereum. Obviously, the success of the bitcoin ETFs will continue
18:45
to see more and more asset managers move in this direction. And this is
18:48
something I talk about quite a bit that the asset managers that I'm talking to
18:52
quite a bit in terms of high networth individuals, private offices, etc.
18:59
What they're telling me is that they're still trying to figure out the shakeout as
19:02
to because everybody's anticipating the ETF for ethereum of what the waiting might be,
19:07
because it's just like any other stock to them or any other security, of
19:11
the potential for waiting out the balance of what that portfolio looks like. And
19:15
I think this is going to get interesting over the next few months, especially
19:18
with the ETTF launching here of course is coinbase and a nice candle here of
19:22
course on the pop we saw this of course was missed by ARC. So
19:27
money flow is starting to decelerate, sentiments starting to move on that volume.
19:33
So we're seeing a little bit of move on that interesting right now on all
19:37
that good stuff. A lot of things happening, guys. For sure,
19:41
we're gonna be doing by the way, we're gonna be dropping an XRP.
19:44
I saw some notes on XRP. We're going to be dropping an XRP video.
19:47
Lots of updates on Ripple and what they are doing, so be on
19:52
the lookout. Mainline, Channa is looking to possibly unbanned bitcoin community says it's
19:57
unlikely we'll see this is fresh reports on social media suggesting that China might lift
20:03
its long standing bantam Bitcoin and cryptocurrency remain skeptical. I think a lot of
20:07
people would be over the moon if that did happen. So if this is
20:11
true, it would be a big deal because remember I think the Chinese and
20:15
also in general Asia is just a very forward thinking community when it comes to
20:21
digital assets, including bitcoin, but also within all sorts of digital assets and
20:26
where the future may be going still points a lot into Asia in the Pacific
20:30
rim other things. Here's Mark Cuban. Hey, if you need any further
20:36
combinations. The craziness SEC, it's not that they dropped their probe. That's
20:40
a good thing. It's crazy because Stax was one of the very few tokens
20:44
that went through the process of getting approved and raise money on the token.
20:47
One thing is certain. It appears that the closer you look and or work
20:49
with the SEC, the more likely you are to get investigated. So there
20:53
you go. Good example of what we've seen there. And then of course
20:57
we saw a little bit here on stacks and where it's been over. The
21:02
last little bit continues to perform really though when you think about it, and
21:06
obviously it goes up in alliance with bitcoin in general. Let's go over to
21:11
the to the poll real quick, and then we'll get in some questions here.
21:15
All right, what do we have? Will the ETF launch beat everyone's
21:18
low expectations? Wow? Seventy one percent of you guys are yes, So
21:22
we get a lot of ETH positivity there in the audience right now. I'm
21:26
still with you, guys. I feel very positive about the eth ETF.
21:30
I think this is going to be one that will surprise a lot of people
21:33
and possibly beat expectations of the market down. So remember the market awns were
21:38
out paced on the bitcoin ETFs by a large margin. A lot of market
21:44
awns did not anticipate the kind of growth that we would see in the bitcoin
21:48
ETFs, and I think that they are severely underestimating what could happen with the
21:53
eth ETF. So all of that going into the markets. We're going to
21:57
get into a few charts here. We'll take a quick look at bitcoin in
22:03
a second. I want to get to a few questions here. Yeah,
22:06
Mark Barnes says, some of twenty three that is true. Now, Jeffrey
22:08
Davis says, what about your XRP and your thoughts. We're doing a full
22:11
video as I said on that, so be on the lookout that we probably
22:15
drop that today. For you buying eight on Friday, good for you life
22:19
of forty something. I think a lot of people, you know, think
22:22
about eight of where it is right now, let's take a look the current
22:25
price at thirty thirty four hundred trading up on the WICK and positive sentiment continue
22:30
to push on overall MSI sentiment still pushing up here. If you look back
22:37
here, the opportunity for ETH this starts to really get into some interesting ranges
22:42
for ethereum and man, maybe we get back to that all all time high
22:48
before you know it. This will be a good one to watch. Hoddle
22:52
Eth since twenty twenty one. Good for you, man, I like that.
22:55
Adele Adam says, if Trump was a cripp it would be whoa.
23:00
If Trump was a crypto, would be Ada unfairly treated by the media outlets.
23:06
The truth will always win in the end, and Ada will. I
23:08
love the fact that we still talk about ATA. It's just that just shows
23:12
you the freedom of blockchain, don't you love it? Eth will go below
23:17
two k before the ETF Man, Daddy, chill, you are on some
23:22
kind of drug. I just want to know, maybe I need some of
23:26
that stuff. He's uh, he's out there two k eh uh huh,
23:30
Okay, Yeah, not gonna happen, guys, not gonna happen. Messiah
23:33
says, we expect XRP settlement in August. That is something that we anticipate.
23:37
There's a lot of reasons for that, and I won't go into detail
23:41
on it because it's in that video that we just recorded today, but there
23:45
are some very key dates in August. There's also some key things happening with
23:49
the SEC. Go watch that video when it comes out because it'll it'll give
23:55
you a lot more explanation about what's happening with XRP. Because XRP is really
24:00
sting up and they also have an event coming in later in the summer early
24:03
fall, we'll probably see a lot of big moves happening with their stable coin
24:07
things like that. So just be on the lookout. When do you think
24:11
you'll be able to buy Soul on fidelity? You know, I don't know.
24:14
This is the thing. As you know, we just had Matthew siegelon
24:17
last week. That's from vak Vanak, one of the first asset managers to
24:21
go out there with us Saul ETF. His statement to us was if it
24:26
got aggressive. In other words, he was basically keying it in on two
24:27
things. And now I feel like he's probably right, is that if Trump's
24:33
administration came into power, the likelihood of a fast ETF for Solana definitely within
24:40
the cards. Otherwise he was looking at well into twenty twenty five. So
24:45
if that is the case, if we start to see some movement here.
24:48
I think we're going to see a lot more strategies starting to move around Slana.
24:52
Speaking of Solana hitting one fifty five, up almost five percent on the
24:56
day right now, continuing right now, this tre is crazy. Look at
25:00
those numbers, seventy five percent right now on overall trade MSI are all all
25:06
overall average at sixty nine percent. These are very positive sentiment. And it's
25:10
busting out of that order block, which has been another zone that it's been
25:14
kind of hovering in. And it is definitely in a trajectory upside next out
25:18
order blocks setting in right there around one hundred and seventy. So if that
25:22
is the open spot, and if you look at the current trailing sentiment right
25:26
there, very positive. Looks like we're on an upswing for Solana as well.
25:32
Sean Hunks says, the ETHTF without staking not that great. Remember,
25:34
guys, don't forget that there are going to be a lot of boomers that
25:38
could It's not that they don't care about staking, it's just that they don't
25:42
understand it yet. Give them time. There's going to be a lot of
25:45
people in traditional finance. You guys have to remember you're in a bubble here.
25:49
You're thinking like crypto people, and when you think about investing, think
25:55
broader. You have to look outside the box because that, to me is
25:59
where the real upside Ideas we all know, staking is the better route,
26:02
sure, but getting into an ETF By most people that are getting into crypto
26:07
for the first time, this will be their route. So think about that
26:11
when all that starts to hit. All right, if you guys are not
26:12
part of the Diamond Circle, make sure and get in. It's another great
26:15
place to get additional content. We are doing a lot more in the Diamond
26:18
Circle. We've just launched our two communities over there, which is our Diamond
26:22
Circle community and our Mastermind community. If you're in either one of those,
26:26
you get special access to content, you can talk to me personally. I'm
26:32
in that community all the time. We've moved away from Slack and Telegram to
26:36
get more to a private community. So all you have to do is just
26:38
click the link down below. You'll get access to that community and a lot
26:41
of the content that we drop in there. Of course, follow me out
26:45
there on x at Paul Barrett. We'll catch you next time right here on tech Path