Latest / CRYPTO 101 / Crypto Rundown: Bitcoin's Next Big Move — Binance Recovers, Coinbase Buys

Transcript

Crypto Rundown: Bitcoin's Next Big Move — Binance Recovers, Coinbase Buys · CRYPTO 101

• 0:08
  [SPEAKER_02]: All right everybody welcome back to the crypto run down and engage Tuesday with the charts You see it on the screen right now.
• 0:15
  [SPEAKER_02]: We had to bring in Hunter to do some TA for you after the historic Binance hack last week.
• 0:21
  [SPEAKER_02]: We covered it on Friday with Brian and Joe a lot happened over the weekend a lot of positive stuff Happened over the weekend so on the back after the show.
• 0:28
  [SPEAKER_02]: We're gonna recap the entire hack
• 0:30
  [SPEAKER_02]: what where we are today with Binance.
• 0:32
  [SPEAKER_02]: It's going to be a lot of positive news on the back end of the show regarding that.
• 0:36
  [SPEAKER_02]: But before we jump into that, we want to bring on Hunter to then talk about the technicals.
• 0:40
  [SPEAKER_02]: Because again, we covered this hack last week, the storyline of it.
• 0:43
  [SPEAKER_02]: But now let's check the charts with Hunter.
• 0:45
  [SPEAKER_02]: We want to see the damage.
• 0:46
  [SPEAKER_02]: We want to see where we are as we look into the rest of November, December, and how are we going to end the year.
• 0:51
  [SPEAKER_02]: So stick forward.
• 0:52
  [SPEAKER_02]: It's going to be a great show.
• 0:53
  [SPEAKER_02]: But before we dive into everything,
• 0:55
  [SPEAKER_02]: with the opportunity here with a little bit of a dip.
• 0:58
  [SPEAKER_02]: And then the positive news flowing into it, we want to give the opportunity everybody who's watching today to get more involved in the community, get first alerts.
• 1:05
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• 1:15
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• 1:15
  [SPEAKER_02]: We're giving that away for literally just one penny today.
• 1:18
  [SPEAKER_02]: I don't think we've really ever done this since I was here.
• 1:20
  [SPEAKER_02]: But because of the news with the hack and the dip and the rip that we might see coming here, we wanted to make sure that we open up our education to all of you.
• 1:30
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• 1:36
  [SPEAKER_02]: Hunter, welcome back.
• 1:37
  [SPEAKER_02]: I'm glad to see that you're safe and sound from this.
• 1:40
  [SPEAKER_01]: hack.
• 1:40
  [SPEAKER_01]: This is historic.
• 1:42
  [SPEAKER_02]: Binance $6 billion hack.
• 1:43
  [SPEAKER_02]: I was excited to get you on the show today.
• 1:46
  [SPEAKER_02]: Make sure you're okay.
• 1:46
  [SPEAKER_02]: Number one seems like the news flow has been super positive with Binance really backing their words of keeping funds.
• 1:54
  [SPEAKER_02]: Sapphu.
• 1:55
  [SPEAKER_02]: So number one, how are you doing?
• 1:56
  [SPEAKER_02]: And number two, dive us into the charts and show us what technical damage or possibly what technical bullish your stuff you're seeing.
• 2:04
  [SPEAKER_01]: Certainly, well, I'm doing well and that's a great intro.
• 2:07
  [SPEAKER_01]: I appreciate it and how do everyone who's out there trust y'all are doing well.
• 2:10
  [SPEAKER_01]: It's a beautiful day to be alive as it always is.
• 2:13
  [SPEAKER_01]: So we're in good spirits and good moods.
• 2:15
  [SPEAKER_01]: And so let's go over kind of, I haven't been with you guys for the last two weeks, but I'll tell you this.
• 2:19
  [SPEAKER_01]: We're kind of at a level that we spoke about two weeks ago.
• 2:22
  [SPEAKER_01]: And my personal stance before I even go into anything is I'm still bullish.
• 2:26
  [SPEAKER_01]: I'm still looking to buy pullbacks.
• 2:28
  [SPEAKER_01]: I'm still not shaking out.
• 2:29
  [SPEAKER_01]: Actually think that a lot of this Bitcoin, I mean, Binance hack.
• 2:32
  [SPEAKER_01]: has shown how resilient crypto is and of course we got a really really volatile week with of course the midterm elections today but let's go big picture as we always do zooming out the quarter the three months chart the big daddy of the mall and don't forget that we talked about this last quarter
• 2:48
  [SPEAKER_01]: We closed all the way above the 2026 Q2 high and that was a very, very bullish signal.
• 2:54
  [SPEAKER_01]: And we've actually been expecting for a little bit of a pullback at the beginning of the quarter.
• 2:59
  [SPEAKER_01]: So this is not anything any cause for concern is actually right on schedule, actually right when we were kind of the prognosis that we had.
• 3:07
  [SPEAKER_01]: And right now for the quarter, we're down about 7%.
• 3:10
  [SPEAKER_01]: not really that much in the whole scheme of things, especially for crypto.
• 3:14
  [SPEAKER_01]: We're sitting about 77.6k at the moment, but let's go down a little bit more granular because we did have the monthly closure a few days ago, so we did get a new monthly candle.
• 3:24
  [SPEAKER_01]: And so when we get new higher time frame candles, we certainly like to look and see what happened in the preceding month.
• 3:31
  [SPEAKER_01]: and in the previous month, I'm sorry.
• 3:33
  [SPEAKER_01]: And we'll see that we actually closed down about 7.3% last month.
• 3:36
  [SPEAKER_01]: So for October, it wasn't really an uptuber, it was a little bit of a downtuber.
• 3:41
  [SPEAKER_01]: Yes, we closed a little bit down towards the bottom of the range.
• 3:45
  [SPEAKER_01]: But we did reject off the 20 month moving average right here and then of course the yearly open from 2026 here.
• 3:51
  [SPEAKER_01]: This current year's open is what we've talked about quite a bit.
• 3:54
  [SPEAKER_01]: Now,
• 3:55
  [SPEAKER_01]: The big thing here is we have come back below this major high, which is the high of this range ever since February, which stands at about 82, 800 and some change, and you know, the bears are definitely looking their chops a little bit as they have been able to get some acceptance back below this level.
• 4:13
  [SPEAKER_01]: Now the bulls, of course, are going to really for the long term want to reclaim that level is going to be one of the major levels that we're going to look at here, but.
• 4:21
  [SPEAKER_01]: Nonetheless, let's take this off our chart.
• 4:22
  [SPEAKER_01]: Let's take the moving averages off our chart real quick.
• 4:25
  [SPEAKER_01]: And let's go down and see what this monthly candle has to offer.
• 4:29
  [SPEAKER_01]: Because when we get into monthly candles, we get new volume levels.
• 4:33
  [SPEAKER_01]: In other words, through volume profile, if you guys have been around the show for a while, you'll notice that I love to use volume analysis, volume profiles, anchored volume advantage prices, and whatnot.
• 4:43
  [SPEAKER_01]: So I'm going to go ahead and I'm going to go down to about one hour chart.
• 4:47
  [SPEAKER_01]: And I'm going to click this little eye, and I'm going to show us this is all of the previous months range, so this is all of October you can see we had this flush during the Binance hack right around the end of last week and now we have a major major level to watch for this big level right here where this big orange line is now is the
• 5:11
  [SPEAKER_01]: previous month value area lows sitting at around 79 500 not too hard to identify as is also as a series of prior lows of course and so the bulls
• 5:23
  [SPEAKER_01]: What they're really going to be wanting to do is reclaim back inside of sorry for that.
• 5:29
  [SPEAKER_01]: Reclaim back inside this level around $7,500 to start moving to the other side of the range.
• 5:34
  [SPEAKER_01]: So going over the next few weeks, maybe into Thanksgiving, really watch for this area of resistance.
• 5:43
  [SPEAKER_01]: Um, for if you were a bull, watch this as an area of reclamation and as a bear, you're watching this as an area of resistance going forward.
• 5:54
  [SPEAKER_01]: Okay.
• 5:55
  [SPEAKER_01]: So that's what we're looking at on the monthly at the moment.
• 5:57
  [SPEAKER_01]: You'll see that also our monthly low from last month is right around 76141.
• 6:03
  [SPEAKER_01]: If you can see at the beginning of this month, we've come down and actually tried to test it.
• 6:09
  [SPEAKER_01]: We've doubled bottom to here.
• 6:12
  [SPEAKER_01]: In my opinion, when I see a lot of lows like this cluster up and you don't see a sweep, those are what I call unfinished business or unfinished lows, I would still expect these lows to get swept at some point.
• 6:24
  [SPEAKER_01]: Now, the whole, it's just now a sequencing process.
• 6:28
  [SPEAKER_01]: What is the path?
• 6:29
  [SPEAKER_01]: Does it happen now?
• 6:30
  [SPEAKER_01]: Do we turn over here like right here?
• 6:31
  [SPEAKER_01]: Or do we go up here and then come down?
• 6:34
  [SPEAKER_01]: Well, let's identify a little bit farther.
• 6:36
  [SPEAKER_01]: Let's go ahead and take this monthly off and let's close turn those off and then let's go down to the weekly here.
• 6:42
  [SPEAKER_01]: Turn our moving averages back on.
• 6:44
  [SPEAKER_01]: And you will see that we have a lot of confluence at the area that we're at.
• 6:47
  [SPEAKER_01]: We are right at the 50 week moving average.
• 6:50
  [SPEAKER_01]: which is one of our bull market indicators.
• 6:52
  [SPEAKER_01]: I was trading above it, does show a sign of strength for the bulls.
• 6:56
  [SPEAKER_01]: I was trading below it, shows a sign of strength for the bears.
• 6:59
  [SPEAKER_01]: And you can see we've actually had four consecutive closures on the week down.
• 7:04
  [SPEAKER_01]: But it's taking us over a month, or roughly a month or so, to go down about 12, 13%, which is not uncommon in Bitcoin's history, but what I want to take note of here is that this is a pretty controlled move down.
• 7:18
  [SPEAKER_01]: especially on top of the news that we've had, the rhetoric that we've had, the sentiment that we've had, it's definitely gotten a bit bearish.
• 7:26
  [SPEAKER_01]: So to me, these looks like great opportunity, of course, going down the rest of the month.
• 7:32
  [SPEAKER_01]: The bulls are going to want to really hold here, but it does seem like we have lost a little bit of that 79k level, which was our
• 7:43
  [SPEAKER_01]: Anchored volume we'd have is price from the all time high.
• 7:46
  [SPEAKER_01]: We actually did close below it now.
• 7:48
  [SPEAKER_01]: We're using that resistance.
• 7:49
  [SPEAKER_01]: You'll see that it's also a Confluence with what I had just mentioned that previous month, value very low.
• 7:54
  [SPEAKER_01]: So very, very pivotal level for the bulls to reclaim
• 7:59
  [SPEAKER_01]: Now where could we find support now because this is what my scenario is is we scenario one was we'll be outlined last time was higher low here in bounce I think that's probably for gone right now and now it's time to look for a new scenario for the bulls you'll see that we have the 20 week moving average right here 73.5 so remember that level 73.5
• 8:22
  [SPEAKER_01]: All right, and so we go down to the daily.
• 8:24
  [SPEAKER_01]: Now we have our 200-day moving average.
• 8:27
  [SPEAKER_01]: Where is this at?
• 8:28
  [SPEAKER_01]: 73, 73.5, okay?
• 8:31
  [SPEAKER_01]: We have our anchored volume and average price from below the current cycle low back from the beginning of July.
• 8:37
  [SPEAKER_01]: Where is that at?
• 8:39
  [SPEAKER_01]: 73.5, okay?
• 8:40
  [SPEAKER_01]: Where is the anchored volume and average price from the beginning of the year?
• 8:44
  [SPEAKER_01]: Oh, 73, 73.5.
• 8:47
  [SPEAKER_01]: Starting to see a pattern here when we're seeing a lot of stacked confluence, okay?
• 8:52
  [SPEAKER_01]: We also have this order block right here from when we broke down.
• 8:58
  [SPEAKER_01]: You pull this over.
• 8:59
  [SPEAKER_01]: It's in confluence right there.
• 9:00
  [SPEAKER_01]: So what am I looking at?
• 9:02
  [SPEAKER_01]: I'm looking at for a possible suite.
• 9:04
  [SPEAKER_01]: This was scenario two that we've outlined in the past.
• 9:08
  [SPEAKER_01]: of whether we come up here, reject off of this 20 day moving average and come back lower, or if we just turn right here and hit it either way, looking for a sweep of these 75 kilos into this major support.
• 9:23
  [SPEAKER_01]: Now when we get down to this, if or when, now because it's not always 100% certain that we will, but this is what I'm looking at is what I'm looking for, well then we're going to really want to watch the reaction here.
• 9:35
  [SPEAKER_01]: If we get a very sharp reaction like a wick and then a move back up into the range, where you have a candle close at the top side, kind of like what we had down here, where you get a sweep of this low, then you come back in and you close back inside the range.
• 9:51
  [SPEAKER_01]: If we see something like that right around this area, well that's when I really think we have the potential to have another swing long or maybe the beginning of our next move to the upside
• 10:05
  [SPEAKER_01]: Nonetheless, though, we do have a lot of things to get over.
• 10:08
  [SPEAKER_01]: We have that prior range high at 83k.
• 10:11
  [SPEAKER_01]: We have this level around the 80k level.
• 10:14
  [SPEAKER_01]: And then our next target's going to be that yearly open, which we have not broken above yet.
• 10:19
  [SPEAKER_01]: So if we do get a move from here, those will be our first main targets.
• 10:23
  [SPEAKER_01]: This right here around 87.5, then we got another target around 83k up here.
• 10:28
  [SPEAKER_01]: I mean, 93k up here.
• 10:30
  [SPEAKER_01]: And then we'll be looking for above this high around 100k as the main areas.
• 10:35
  [SPEAKER_01]: We would be remiss to say that there aren't other possibilities.
• 10:38
  [SPEAKER_01]: Of course, so if this isn't the case, well then I do think you have the possibility of a deeper retracement into the top side of this range, which is going to be around 67K either way that would still offer a very nice swing long opportunity.
• 10:54
  [SPEAKER_01]: As for me, we are starting to get into from the relative strength index in oversold territory.
• 11:00
  [SPEAKER_01]: In other words, momentum is making lower lows.
• 11:03
  [SPEAKER_01]: getting to an oversold area and we do have the potential of an extended move to the downside, but momentum is starting to jwindle so we do want to take note of that as these before this will probably come back down and then it will be in those oversold territories where we usually do find.
• 11:19
  [SPEAKER_01]: good bottoms.
• 11:20
  [SPEAKER_01]: And so that's exactly what I'm looking for without getting too too much more complicated and than that.
• 11:26
  [SPEAKER_01]: But really watch this 73.5 level and really watch for this swing failure pattern.
• 11:31
  [SPEAKER_01]: But note that we do have short term resistance still around this 79.5 79.5 k level, which will be in line with that 20 day moving average.
• 11:40
  [SPEAKER_01]: So even if we do get a move up here, you could maybe still expect a pullback to the downside.
• 11:46
  [SPEAKER_01]: Otherwise, you get the reclaim
• 11:49
  [SPEAKER_01]: of this level, you flip it into support and then we start taking out those highs.
• 11:56
  [SPEAKER_01]: That's exactly what we're looking for here on Bitcoin and the market.
• 12:00
  [SPEAKER_01]: Not really too difficult, but just note that this is pretty resilient for Bitcoin.
• 12:05
  [SPEAKER_01]: So that's what I've got for us right here as from a technical standpoint for a market update.
• 12:12
  [SPEAKER_02]: awesome stuff hunter as always.
• 12:14
  [SPEAKER_02]: Thank you always my favorite to get you know different opinions of our analysts to see what is going on.
• 12:20
  [SPEAKER_02]: So again, a good a good take there with you just kind of set the scene of where we are after this historic Binance crash and so I got a quick summary.
• 12:31
  [SPEAKER_02]: for some people here some bullet points for those that might be listening for the first time in here last episode last week's episode so I just got about eight bullet points here I'm gonna run through real quick so the Binance hack summary before where we move on where we are today.
• 12:46
  [SPEAKER_02]: So Binance suffered a major hack on October 29th basically.
• 12:51
  [SPEAKER_02]: It was historical in the fact that $6.34 billion in assets were impacted, who's to blame the FBI has pointed to North Korea so far and how it happened.
• 13:04
  [SPEAKER_02]: It was a multi-month campaign using social engineering via fake job interviews to get malware on to a workplace laptop.
• 13:11
  [SPEAKER_02]: I believe they used LinkedIn again and kind of building a fake at job interviews scenario to get the malware downloaded.
• 13:19
  [SPEAKER_02]: It affected large amounts of XRP, soul, OP, BTC, and ETH.
• 13:25
  [SPEAKER_02]: And then the response was very quick.
• 13:27
  [SPEAKER_02]: System invices, rebuilt credentials were killed, controls tightened, and funds frozen with the help of law enforcement and partners.
• 13:35
  [SPEAKER_02]: And a lot of those partners were that were very notable with Tether and Circle.
• 13:40
  [SPEAKER_02]: And then as of November 3rd today, Binance is absorbing the full loss meaning that users are not going to be impacted, which is a huge difference from FTX.
• 13:51
  [SPEAKER_02]: Everybody over the weekend was kind of calling me out my friends that know,
• 13:56
  [SPEAKER_02]: You know, I do the podcast them in the space, they're like, oh, you know, it's over again.
• 14:00
  [SPEAKER_02]: Biggest hack ever, big coins over again, you know, FTX 2.0.
• 14:04
  [SPEAKER_02]: And what I was trying to educate people is, yes, this is a historic hack.
• 14:07
  [SPEAKER_02]: Yes, this is bad.
• 14:08
  [SPEAKER_02]: It's not good for the space by any means.
• 14:10
  [SPEAKER_02]: But what's really interesting is how it is different from FTX in that, you know, Binance is looking to have funds safe.
• 14:17
  [SPEAKER_02]: They're going to replenish everything and they're going to make sure that you at least what their promise was is that users are going to be impacted.
• 14:25
  [SPEAKER_02]: it seems that that is coming true.
• 14:28
  [SPEAKER_02]: They set aside more than a hundred percent of the required funds as of October 31st 98 percent of the impacted token assets had already be replenished and had verifiable proof on the reserves page.
• 14:40
  [SPEAKER_02]: And I still think that's where they are.
• 14:42
  [SPEAKER_02]: They're about 98.99 percent as of today.
• 14:46
  [SPEAKER_02]: really great for them to be kind of taking the initiative and getting that done so quick.
• 14:52
  [SPEAKER_02]: I believe withdrawals are open.
• 14:55
  [SPEAKER_02]: I'm going to play a clip from CZ here, Hunter.
• 14:58
  [SPEAKER_02]: It's quick 16 seconds.
• 14:59
  [SPEAKER_02]: He's just talking about the withdrawal process here of what he thought might happen versus what did.
• 15:04
  [SPEAKER_02]: And then with love to just get your kind of 10,000 foot
• 15:07
  [SPEAKER_02]: approach or take to what you saw unfold over the last couple days here just as a whole.
• 15:14
  [SPEAKER_02]: So let's listen to CZ and then we'll get kind of Honours takes and doesn't on the show on Friday.
• 15:17
  [SPEAKER_00]: $3.6 billion might sound like a good number.
• 15:20
  [SPEAKER_00]: Like that's like about 2% of the holdings on Binance.
• 15:24
  [SPEAKER_00]: Honestly, I thought the number we much higher.
• 15:26
  [SPEAKER_00]: I thought the withdrawals would be like 10, 20, 30%.
• 15:29
  [SPEAKER_00]: But the fact that only 2% went out is a very strong indication of how much people trust the platform.
• 15:34
  [SPEAKER_00]: Trust Binance.
• 15:36
  [SPEAKER_02]: So 2% number, so when withdrawals finally opened, there was a little bit of a worry that maybe there would be, you know, a withdrawal rush.
• 15:43
  [SPEAKER_02]: Just I got to get off this platform, right?
• 15:46
  [SPEAKER_02]: And that wasn't the case only 2%.
• 15:48
  [SPEAKER_02]: So 100, kick it over to you.
• 15:50
  [SPEAKER_02]: From when the moment you heard it happen, you kind of gave your technical thoughts, obviously, from our last segment.
• 15:56
  [SPEAKER_02]: But just just as a 10,000 foot, like more of a vibe take of the crypto industry as a whole, you know, what we're running through your thoughts when you saw it happen and then where we are today.
• 16:06
  [SPEAKER_01]: Well, first things first, you know, they say, show me the chart and I'll tell you the news.
• 16:10
  [SPEAKER_01]: So that's all I really needed.
• 16:13
  [SPEAKER_01]: The price pulled back about 5%.
• 16:15
  [SPEAKER_01]: And then the first thing I thought of was, okay, FTX, right, okay, that's the biggest thing that we know Black Swan event.
• 16:22
  [SPEAKER_01]: And so I went down and looked at the 2022 cycle and then realized that the FTX collapse actually happened the same week of the midterms.
• 16:31
  [SPEAKER_01]: And then I was like, hmm, kind of interesting that the Binance hack is happening the same week in the midterms and if you'll remember that was the exact cycle low so I light bulb my head I was like,
• 16:44
  [SPEAKER_01]: love it, bring me more fun, bring me more bearish sentiment because the market is holding out extremely resilient.
• 16:49
  [SPEAKER_01]: And so I was kind of chomping at the bits, I'm like, all right, so now let's see if there's any other types or regimes or types that this was kind of similar.
• 17:00
  [SPEAKER_01]: And I've got down to the conclusion that this is very similar to the Thanksgiving time around 2023 and November 2023.
• 17:07
  [SPEAKER_01]: Um, when actually there was an issue with Binance and there was an issue of CZ and him getting indicted, um, and then the market was just on a buy the bad news regime, and I really feel that that's the situation we're in and that the market actually just continued going up through that.
• 17:23
  [SPEAKER_01]: So, the way I look at it as,
• 17:27
  [SPEAKER_01]: The market already had a stop-safe gap because of something that's happened before back in the 2018-2019 Binance hack.
• 17:35
  [SPEAKER_01]: Some of the funds were, of course, absorbed by the safe food fund or the secured assets fund for users.
• 17:43
  [SPEAKER_01]: May stop of a meme, of course.
• 17:45
  [SPEAKER_01]: Now, a lot of them were covered from that.
• 17:47
  [SPEAKER_01]: That's just an insurance fund.
• 17:48
  [SPEAKER_01]: A lot of it actually came off the corporate balance sheet from Binance.
• 17:52
  [SPEAKER_01]: So that shows that Binance is one of the most profitable companies here in crypto.
• 17:59
  [SPEAKER_01]: And they're able to absorb it from their balance sheet.
• 18:01
  [SPEAKER_01]: And then the, um,
• 18:04
  [SPEAKER_01]: The withdrawal mechanism of the phase withdrawals has been happening over the week, but we're not seeing a lot of bank run.
• 18:09
  [SPEAKER_01]: We're not seeing a bank run or I guess you would call that in crypto where a crypto bank run, which is what would be the big scare.
• 18:16
  [SPEAKER_01]: We're not seeing that at all.
• 18:18
  [SPEAKER_01]: And so to me,
• 18:20
  [SPEAKER_01]: This seems like the exact type of sentiment and news that comes out around a time when the market is trying to turn as they do get some force selling some capitulation, but it's getting absorbed.
• 18:32
  [SPEAKER_01]: We can see that across the book.
• 18:33
  [SPEAKER_01]: Otherwise, I think we would have flushed a lot harder.
• 18:35
  [SPEAKER_01]: Now, of course, you could argue, is this just the calm before the real day lose or storm?
• 18:43
  [SPEAKER_01]: You could say that I, my honest opinion on my own personal stance, I don't believe so.
• 18:48
  [SPEAKER_01]: I believe that this is getting absorbed and this is a sign of resiliency and so going forward.
• 18:54
  [SPEAKER_01]: So it really not much more than that and I think that everything was handled quite well.
• 18:59
  [SPEAKER_01]: Of course, there is going to still be a lot of Bitcoin and Ethereum out there that could hit the markets because that cannot be
• 19:06
  [SPEAKER_01]: technically frozen like the stable coins can from the circle and tether side.
• 19:11
  [SPEAKER_01]: So there's still like an over two billion worth of Bitcoin and the ethotherium that could hit the market.
• 19:16
  [SPEAKER_01]: But I don't think that I think if people were going to what we always like to say price things in they would already sold beforehand I believe rather than are waiting for the to hit the market.
• 19:29
  [SPEAKER_02]: Yeah, and when we covered this Friday, but as much as there is still that amount of Bitcoin that in theory, they might want to liquidate, you know, when you look at it, according to market cap, it's, you know, 0.09% of the market cap, and then for ETH, it's 0.32, 0.32% of the market cap.
• 19:48
  [SPEAKER_02]: You know, there are a couple other tokens out there that, you know, took up a much larger percent, and a much larger percent of the volume as well, which is a little bit more, you know, alarming, but that doesn't seem to, you know, you don't want that Bitcoin, you need to be stolen obviously, and sure it could, it could find its way on to the market, but it's not a huge percentage enough that it would be, you know, a huge market movie event.
• 20:14
  [SPEAKER_02]: So I think that's kind of the recap.
• 20:16
  [SPEAKER_02]: I just kind of show everybody for those that don't know, just the Binance is able to do this because it is Crypto's highest revenue company.
• 20:25
  [SPEAKER_02]: You know, you can see there are, I'm sorry, it's second to, to Tether and Coinbase.
• 20:30
  [SPEAKER_02]: But, you know, they're the top three there.
• 20:31
  [SPEAKER_02]: That's how they can absorb a hit like this.
• 20:34
  [SPEAKER_02]: And it's good to see them act fast.
• 20:37
  [SPEAKER_02]: I think the industry would have certainly wobbled much more into the weekend and now,
• 20:43
  [SPEAKER_02]: Hey, we're going to do what's right.
• 20:45
  [SPEAKER_02]: We need time to investigate this.
• 20:48
  [SPEAKER_02]: We need more time.
• 20:49
  [SPEAKER_02]: If they kept kicking the can down the road before making sure that they were going to use their say, Fufun, and as well as just making people whole and turning on with trolls, if they really shut down the system for much longer than they did.
• 21:03
  [SPEAKER_02]: I think there would have been a rocky point in the markets.
• 21:08
  [SPEAKER_02]: But the reason that these companies are so big and so successful is because they make a lot of money.
• 21:15
  [SPEAKER_02]: I guess that's a good sign, that you have a healthy company.
• 21:19
  [SPEAKER_02]: It looks like as of now that they got no skeletons in the closet to be able to not make the user's hole.
• 21:26
  [SPEAKER_02]: But again, it's a historic story, so it's something that more news is going to continue
• 21:34
  [SPEAKER_02]: But just for anybody that's on the 101 level, maybe new, we just want to showcase of why they could do that is because they have a strong balance sheet, they have a strong company.
• 21:46
  [SPEAKER_02]: Whereas, you know, FTX was just built on entire fraud and they were using user funds to go and do whatever they wanted with it and they lost everybody's money.
• 21:54
  [SPEAKER_02]: So that's the biggest difference between what happened with with finance and FTX.
• 21:59
  [SPEAKER_02]: So something that we're going to continue to talk about for for probably months to come definitely into the end of the year.
• 22:06
  [SPEAKER_02]: And then one final bullish thing I saw just so we could wrap up the show on a fun note.
• 22:12
  [SPEAKER_02]: is a coinbase increases its bitcoin holdings by 18,000 a day so you know not to you know interesting by there for for for coinbase you know especially this week as well and any thoughts on coinbase dipping their their toes bin with a 18,000 BTC this week
• 22:31
  [SPEAKER_01]: That's a pretty big number, and ironically, you know, it's roughly in line with some of the stuff that might have been, I mean not totally, but you have that, and then of course strategy bought a lot, so they're buying around this level, this is the cost basis that a lot of these holders have, this is the short-term holder cost basis as well, so we're at, I would say the fair value level, so, you know, not financial advice, but as an investor, these are the still value areas I believe for the long-term.
• 22:59
  [SPEAKER_02]: Yeah, 1.4 billion.
• 23:02
  [SPEAKER_02]: It's not nothing.
• 23:02
  [SPEAKER_02]: That's a big number for Coinbase to jump in there.
• 23:06
  [SPEAKER_02]: Sometimes you might sneeze at the weekly buy from strategy where it's 20 million or 300 million for bigger companies.
• 23:14
  [SPEAKER_02]: That's kind of a tax right off here there, but 1.4 billion, especially after what happened, I think, is huge.
• 23:23
  [SPEAKER_02]: It's really just, hey, we're here.
• 23:25
  [SPEAKER_02]: We're not leaving.
• 23:28
  [SPEAKER_02]: Yeah, for these mega these mega crypto companies coin bases right up there right with Binance and and Tether so I think it's it's a huge Vota confidence just for the space So a great thing to see this week.
• 23:43
  [SPEAKER_01]: Yeah, and you see coin base up 8% on the day to day so after you know 15% move down so it's good to see
• 23:50
  [SPEAKER_02]: Yeah, 100%.
• 23:51
  [SPEAKER_02]: So I think as we move into the rest of the week, we have, we had a great interview, drop.
• 23:57
  [SPEAKER_02]: Yesterday, you're going to want to tune into that, and then we'll have another rundown later this week.
• 24:01
  [SPEAKER_02]: We're going to continue to cover this news, but we have a list of, as always, I have a list of bullish stuff that I wanted to talk about last week that we just had to put to the side.
• 24:11
  [SPEAKER_02]: and cover this story.
• 24:12
  [SPEAKER_02]: And then I thought it was important today to get the technicals to tell the other side of what's going on inside the charts.
• 24:19
  [SPEAKER_02]: So again, two episodes dedicated to this historic hack.
• 24:22
  [SPEAKER_02]: And again, more news will come out and be a part of our shows in the future.
• 24:26
  [SPEAKER_02]: But moving on.
• 24:27
  [SPEAKER_02]: From now, we'll kind of get back to those more usual rundowns where you're going to get to get a plethora of news instead of just focused on one topic, but I really hope the last two episodes were really helpful for everybody to kind of get their footing.
• 24:40
  [SPEAKER_02]: You know, learn the facts.
• 24:41
  [SPEAKER_02]: It is what it is.
• 24:42
  [SPEAKER_02]: It was a historic hack, but yeah, it's crazy how, you know, just just strong of a business, Binance is and how strong of an industry.
• 24:50
  [SPEAKER_02]: It is to absorb that with the price action that we saw in the charts.
• 24:54
  [SPEAKER_02]: So, um,
• 24:55
  [SPEAKER_02]: It's going to be all for today.
• 24:56
  [SPEAKER_02]: Again, one last call.
• 24:57
  [SPEAKER_02]: If you're still here, please give this video a like.
• 24:59
  [SPEAKER_02]: Bottom right subscribe if you're new and check out the description below for the the one penny trial to join to join Hunter Bryce Brendan, you know, the rest of the team on their awesome research, get in during this volatile dip as we head into the rest of the year.
• 25:14
  [SPEAKER_02]: We really appreciate everybody joining today.
• 25:17
  [SPEAKER_02]: Thanks for watching or listening, but that's all for now.
• 25:19
  [SPEAKER_02]: We'll talk to you later.
• 25:20
  [SPEAKER_02]: Bye.