Latest / CRYPTO 101 / Crypto Rundown: Bitcoin & Ethereum at Resistance: What is Crypto's Next Move?!

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Crypto Rundown: Bitcoin & Ethereum at Resistance: What is Crypto's Next Move?! · CRYPTO 101

0:08
[SPEAKER_01]: all right everybody welcome back to the crypto run down it's Tuesday and we have with us our good friend Brendan Brennan's been a couple of weeks since we had you bit going in eath are going higher as we head into October a lot of a lot of momentum uh this is your first uptober show with us since last year
0:26
[SPEAKER_01]: So we had to bring you on.
0:27
[SPEAKER_01]: You see it on the screen right now.
0:29
[SPEAKER_01]: If you're on YouTube, we are breaking down the charts.
0:31
[SPEAKER_01]: After a lot of momentum, we seem to be trading into the range.
0:34
[SPEAKER_01]: We've been breaking out of these ranges to the upside.
0:37
[SPEAKER_01]: As you can see, if you've been following the price action, been following the shows, you've been a part of all the momentum, all the price action to the upside, whether it's Bitcoin Ethereum.
0:46
[SPEAKER_01]: or the altcoins that we discuss on the show.
0:49
[SPEAKER_01]: So Brendan, welcome back to the show.
0:50
[SPEAKER_01]: How are you and take us through?
0:52
[SPEAKER_01]: Where we are with Bitcoin and Ethereum before we get on to the rest of the news that we see.
0:58
[SPEAKER_00]: Good to be back to you, though.
1:00
[SPEAKER_00]: You're right.
1:01
[SPEAKER_00]: We're back here in October.
1:03
[SPEAKER_00]: And, you know, it's funny some of the guys and I were talking just the other day, we're saying, man, we hope that this October is a lot better than last October, but it's important to remember that if you go back to last October,
1:17
[SPEAKER_00]: It was actually pretty good until it wasn't, right?
1:21
[SPEAKER_00]: You kind of look at where we start over here on October, end of September, comes, we've let all the way down, and then September ends, October starts, and we start ripping to the upside, all the way up to those all-time highs.
1:36
[SPEAKER_00]: And so this is what that first part of October looked like.
1:39
[SPEAKER_00]: It was basically what?
1:40
[SPEAKER_00]: We had about 10 different days here.
1:43
[SPEAKER_00]: And the only two red days that we had were very, very menuskule here and here.
1:48
[SPEAKER_00]: But you had this big stretch where Bitcoin basically ripped from the end of September, start of October, about 16 and a half percent to all-time highs, which put just exactly where we are today on October 6th.
2:01
[SPEAKER_00]: Because this exact day last year, Bitcoin was hitting its all-time high peak.
2:06
[SPEAKER_00]: I've just over $126,000 here.
2:09
[SPEAKER_00]: We are a year later.
2:10
[SPEAKER_00]: Obviously, we went through quite the roller coaster of emotion since then.
2:15
[SPEAKER_00]: We're right around $86, $87,000 right now.
2:19
[SPEAKER_00]: But this officially marks the one year marker from that all-time high point last year.
2:25
[SPEAKER_00]: And I'll tell you what a lot has happened since then.
2:27
[SPEAKER_00]: But you do have Bitcoin squeezing back to the upside.
2:30
[SPEAKER_00]: You have a lot of the crypto market really moving well here.
2:34
[SPEAKER_00]: I won't get ahead of myself, Tiva, but I'm excited.
2:36
[SPEAKER_00]: There's a lot to talk about, and then I'm sure we'll dive into it.
2:40
[SPEAKER_01]: Yeah, absolutely.
2:41
[SPEAKER_01]: What else are you seeing from Ethereum, Bitcoin?
2:44
[SPEAKER_01]: They're going to focus on the big two today.
2:46
[SPEAKER_01]: We're not going to dive into too many altcoins.
2:48
[SPEAKER_01]: Yeah, because we did that last week with Hunter, and then obviously, you know, inside the community and in your program, you do a lot more deeper dive.
2:55
[SPEAKER_01]: But just give us a quick view on Ethereum.
2:58
[SPEAKER_01]: We have some news about Tom Lee, and then we'll break down the uptoe
3:03
[SPEAKER_00]: Yeah, well, I think, you know, what we're seeing here is a good positive consolidation across the board here.
3:10
[SPEAKER_00]: Bitcoin's been breaking above resistance levels, consolidating and very bullish formats, moving higher, consolidating, moving higher, consolidating, and that's kind of in the name of the game and so far at least this could change, but it doesn't look any different.
3:23
[SPEAKER_00]: We've moved up above our kind of prior highs right in here.
3:28
[SPEAKER_00]: And above these resistance points, and you have a flat level of resistance, a climbing level of support, that is usually a good thing, typically for all my technical people out there, we would typically refer to that as an ascending triangle, but it basically shows that, hey, you know, so long as this holds price action is squeezing towards the upside here, and I think that's exactly what we want to see.
3:48
[SPEAKER_00]: Now, Theorium's in the same spot.
3:49
[SPEAKER_00]: In fact, Theorium remains even dare I say more bullish than Bitcoin because what you have here is this thing continuing to close above its prior highs time and time again.
4:00
[SPEAKER_00]: Over here, you had that reversal point on Ethereum.
4:03
[SPEAKER_00]: These are those prior highs and then what do you see?
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[SPEAKER_00]: Well, you break above those prior highs.
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[SPEAKER_00]: and then you close all of these bottoming candles above those prior highs.
4:12
[SPEAKER_00]: And then you move higher again and now we're closing all of these consolidation lows above these prior highs.
4:20
[SPEAKER_00]: And so Ethereum here as it's, you know, continuing to hold and again, really try to attack the upside a little bit.
4:25
[SPEAKER_00]: It is holding above these prior highs time and time again.
4:29
[SPEAKER_00]: And that is something that you want to see.
4:31
[SPEAKER_00]: It's bullish structure kind of working its way to the
4:34
[SPEAKER_00]: Now again, that could change here, maybe we get some stuff, but for the time being, so long as we continue to see that, you got to be pretty positive here on the crypto market.
4:43
[SPEAKER_00]: You're seeing a similar story with Solana, right?
4:45
[SPEAKER_00]: consolidating above those prior highs, attacking the upside again.
4:49
[SPEAKER_00]: above the all the short-term moving averages, the 20, the 50, the 200, on the longer end, above all of those.
4:56
[SPEAKER_00]: You know, you're seeing a lot of these cryptos here, you know, even B&B come off of fresh, what was this?
5:02
[SPEAKER_00]: I mean, the highest point that we've seen since basically January of this year.
5:07
[SPEAKER_00]: for B&B, so a lot of these large caps are pushing up.
5:10
[SPEAKER_00]: You're seeing altcoins slow down just a little bit here, but if you look at the others chart, which excludes the top 10 largest altcoins from the crypto market, you can see that there was a pretty strong period here where altcoins were actually outperforming the large caps.
5:25
[SPEAKER_00]: Now you're getting a little bit of a cool off period here in altcoins, but it does in my opinion kind of look like, hey, this could just be winding up for another move.
5:33
[SPEAKER_00]: I want to keep an eye on this.
5:34
[SPEAKER_00]: I don't think that the slowdown in altcoins means that up that's the end of this bull market and we go all the way back down.
5:40
[SPEAKER_00]: I think you have pullbacks and you have periods where large caps perform, then the rest of the crypto market performs, and you can kind of like balance being back and forth.
5:50
[SPEAKER_00]: And I think that's just what we're getting here a little bit right now.
5:52
[SPEAKER_00]: So
5:53
[SPEAKER_00]: I'd be keeping an eye.
5:54
[SPEAKER_00]: I think the crypto market's got a lot of potential.
5:57
[SPEAKER_00]: And just continuing to see really nice moves here.
6:00
[SPEAKER_01]: So yeah, we've had nice moves across the board as we've been talking about on the run down here for a couple weeks.
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[SPEAKER_01]: And as Brendan just said, kind of the altcoin market might be doing a little cool off here, but that might just be a reload for the next leg up.
6:13
[SPEAKER_01]: And if you're somebody that's interested, as you've heard on the program, we talk about, you know,
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[SPEAKER_01]: Bryce Hunter, Joe, and Brian have had.
6:22
[SPEAKER_01]: If you're interested in learning how they do that, we do a presentation if people are interested on the microcoins.
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[SPEAKER_01]: How to find these microcoins, the ones that you don't know about, most people don't know about.
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[SPEAKER_01]: And if you want to learn how to find them before they become relevant, before you see them on the timeline, before they make the big moves, check out the link below.
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[SPEAKER_01]: It's a free presentation, Bryce put together.
6:40
[SPEAKER_01]: If you're somebody that's interested in getting more in-depth than trying to find the next big winners for that next leg of the altcoin market and if that's not something you're interested in we got a couple other links down there as well so you can join the community get more from Brian Bryce and the whole entire team because as the market heats up
6:56
[SPEAKER_01]: that's when you need to be educated the most.
6:59
[SPEAKER_01]: I'll pull up your favorite fear and greed index.
7:01
[SPEAKER_01]: We've been doing the coin market cap one a little bit Brendan.
7:03
[SPEAKER_01]: I want to pull up yours just to see it's about the same.
7:05
[SPEAKER_01]: We've been in a month of greed, greedy little piggy's Brendan.
7:09
[SPEAKER_01]: We've been there for a month now and then if you scroll down we always like to look at this chart and pull it out.
7:13
[SPEAKER_01]: This is a year.
7:15
[SPEAKER_01]: Finally, up in that that 70 range bouncing around there, Ben and Greed a quick little sell off there in September
7:23
[SPEAKER_01]: fear of being content, but what are your thoughts here?
7:26
[SPEAKER_01]: Again, if it's one of those times, kind of like you just said on the charts like, hey, we're cool off here, we're consolidating a little bit.
7:31
[SPEAKER_01]: There's no crazy crash to the downside to get us back in a neutral quite yet.
7:36
[SPEAKER_01]: Something to look out for, but maybe that's a by the dip opportunity as we seem to have the momentum.
7:41
[SPEAKER_01]: The bulls are pushing forward here.
7:44
[SPEAKER_00]: Yeah, I think when we're looking at this and it's important to understand that it's not really a literal tool, right?
7:49
[SPEAKER_00]: So it's saying all people are greedy, you know, it's kind of like saying the same about the oversold levels, right?
7:54
[SPEAKER_00]: A lot of indicators and market things have have tools, it'll say, oh, it's overbought or oversold.
7:59
[SPEAKER_00]: Overbought and oversold and fear and greed are usually not literal tools in the sense of, okay, right now, I need to be exiting or adjusting because of that.
8:09
[SPEAKER_00]: It's kind of just a general idea of, like, hey, where is the market at in correlation to where it's been?
8:16
[SPEAKER_00]: What you saw is that for a long period inside that bear market, the markets were in fear, right?
8:21
[SPEAKER_00]: They were in fear, they were in an extreme fear.
8:24
[SPEAKER_00]: And at points, they were at record levels of fear.
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[SPEAKER_00]: You know, some of the lowest levels we've ever seen on extreme fear from the fear and greed index.
8:31
[SPEAKER_00]: And
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[SPEAKER_00]: You know, when we're entering back into a bull market, it will relative to how bearish we were, you know, just a little bit more greedy.
8:39
[SPEAKER_00]: Yeah, you'd expect the chart to go up, but in the same way that you saw the fear and greed index in extreme fear for so long.
8:48
[SPEAKER_00]: I think what you can now expect to see in the bull market is that you're going to start sitting in what is priced or labeled as greed or extreme greed for extended periods of time.
8:58
[SPEAKER_00]: Now, again, that doesn't mean that it's necessarily overbought or overextended as everyone likes to say.
9:04
[SPEAKER_00]: But that does kind of show us like, hey, the market sentiment has shifted here from being very bearish, expecting lower prices, people are super fearful.
9:12
[SPEAKER_00]: And now what you're getting is a sentiment shift alongside a price action shift.
9:17
[SPEAKER_00]: So sentiment is turning more positive, people are turning more bullish, and price action is correlating, and I'm correlating, but I guess just moving more to the upside now and appreciating, and that's getting a full shift here.
9:29
[SPEAKER_00]: If you look at this chart and you see right smack in the middle it says here are the historical values right now yesterday the last week the last month all switching back to agreed territory and you see this kind of chart moving back to the upside here so.
9:46
[SPEAKER_00]: Again, I think that this is that shift a lot of us have been waiting for I think if you're a bear here to you though You're in a difficult spot.
9:55
[SPEAKER_00]: I talked to a buddy here Man, maybe a month ago And he was just telling me like hey dude, I think the tops in I think it's time to go lower I don't only see more upside and you know obviously I disagree.
10:08
[SPEAKER_00]: I disagree I might I might have faded and just a little bit but
10:14
[SPEAKER_00]: I was talking to one body who was saying that and I think that you're still starting to see that people are still saying that kind of thing even in the current day.
10:22
[SPEAKER_00]: And this is an important part of the market cycle because there is this where you out tear you out phase and then we transition from that into the disbelief phase where people refused to believe that the market has officially pivoted.
10:35
[SPEAKER_00]: and now what you're seeing is that even under and I think this is the big takeaway and then I promise I'll hand it back.
10:40
[SPEAKER_00]: But even under what has been probably not very like not optimal you know I guess conditions for Bitcoin and the crypto market it continues to head higher.
10:53
[SPEAKER_00]: You have the
10:57
[SPEAKER_00]: Right, that puts pressure on the higher riskier assets like Bitcoin and small caps and things like that and then you look at inflation and there's people that are afraid of inflation and they're afraid of energy prices and they're afraid of rate hikes and all these things and all of these things would historically make.
11:17
[SPEAKER_00]: You're a pretty choppy rough conditions for Bitcoin, again, not optimal conditions, and you still have Bitcoin poisoning, higher.
11:24
[SPEAKER_00]: So I think the bulls, excuse me, the bear is here punching air, trying to figure out what they can do to get a bearish narrative, but Bitcoin continues to chug higher despite that.
11:34
[SPEAKER_00]: So again, I think you're having a hard time if you're a bear here, you're grasping at straws, but the market is resilient.
11:42
[SPEAKER_01]: Yeah, a market likes to crawl wall worries, right?
11:46
[SPEAKER_01]: That's the saying is when everything around a market looks like it's going to go down.
11:51
[SPEAKER_01]: As we say, you don't want to be on the same side of the boat as everybody.
11:55
[SPEAKER_01]: And let's just do a quick run down on some of the kind of bullish momentum things that we're saying here.
12:00
[SPEAKER_01]: The Bitcoin ETFs just had their biggest weekly inflow of 2026.
12:03
[SPEAKER_01]: Again, that's
12:05
[SPEAKER_01]: You know, maybe some retail money see in the price action, but the majority of that's going to be the big dogs.
12:11
[SPEAKER_01]: The institution's piling in.
12:12
[SPEAKER_01]: I don't think retail, your average retail is quite back yet.
12:17
[SPEAKER_01]: Well, I will pose it to you, but I know Brian and I have talked last couple weeks of saying, hey, we like the price action, sure there's some people in crypto that might be talking about it with us that we know, but that average mass text of friends and family, like has not come in yet.
12:31
[SPEAKER_01]: people the people that definitely texted you on the way down uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh uh
12:46
[SPEAKER_00]: I have not, I haven't gotten any text saying like, I would say in either extreme, sometimes I'll have people text me and be like, hey, you know, do you think it's probably time to get back in?
12:57
[SPEAKER_00]: You're right, I usually get those texts at the top.
13:00
[SPEAKER_00]: The only messages I have gotten have been the opposite of the bearers coming in here and wanting to voice their outspoken opinion.
13:10
[SPEAKER_00]: But I haven't heard a lot, which makes me think that we're not at a top, and I'm maybe knocking on what is I say that.
13:21
[SPEAKER_00]: But I haven't gotten any series of messages yet being like, oh my gosh, now when I will start to get a little bit more nervous, Tvo, and you and I both remember this.
13:29
[SPEAKER_00]: So when we start getting those big
13:31
[SPEAKER_00]: crypto predictions right you know big crypto price predictions I included one on today's episode but you'll see and this kind of feeds in the my point it's not a super lofty prediction it's city groups saying hey we're in a raise our prediction for Bitcoin over the next 12 months we think it could hit
13:51
[SPEAKER_00]: 113,000.
13:52
[SPEAKER_00]: We think Ethereum can go back over 3K.
13:54
[SPEAKER_00]: That's not a hot take, right?
13:56
[SPEAKER_00]: These are prices that we've already hit.
13:58
[SPEAKER_00]: They're not all-time highs.
14:00
[SPEAKER_00]: They're not even like a giant move away from where we're currently at.
14:05
[SPEAKER_00]: And we would have to actually slow down the growth that we've seen since the summer to hit these.
14:09
[SPEAKER_00]: So,
14:11
[SPEAKER_00]: I don't see a lot of that crazy price prediction mentality yet, which I guess is a good thing, because again, I still think too many people are nervous.
14:21
[SPEAKER_00]: They're scared.
14:22
[SPEAKER_00]: I think there's still a lot of people that are trying to fade this.
14:25
[SPEAKER_00]: My favorite thing that we've seen so far from the past couple of months is the liquidations happening to the bear's table watching those get liquidated.
14:33
[SPEAKER_01]: Oh, there's bears for the bears.
14:36
[SPEAKER_00]: prayers for the bearers.
14:37
[SPEAKER_00]: In fact, you know, I hope that we see the return of our buddy inverted investing throughout their shoutout.
14:43
[SPEAKER_00]: We miss you.
14:45
[SPEAKER_00]: But yeah, prayers for the bearers.
14:48
[SPEAKER_00]: I hope he's a bull.
14:49
[SPEAKER_00]: He could have flipped.
14:50
[SPEAKER_00]: He seems pretty reasonable last time we talked to him.
14:53
[SPEAKER_01]: But yeah, that guy seems to disappear whenever the price goes up.
14:56
[SPEAKER_01]: But if you're not bullish from that alone, the whales continue to buy
15:03
[SPEAKER_01]: buying some eat.
15:04
[SPEAKER_01]: I always love and watch her guru does this.
15:06
[SPEAKER_01]: They post Tom Lee buying eat them and they put the Bitcoin logo.
15:09
[SPEAKER_01]: I'm pretty sure that's just a troll, but they seem to like to do that.
15:14
[SPEAKER_01]: So Tom Lee, a bit mine specifically, obviously, continuing to buy eat.
15:18
[SPEAKER_01]: The rumors that they might have a big announcement, because he's been pretty quiet.
15:22
[SPEAKER_01]: Obviously, just doing his buys along the bottom and then on the way up, and had the call that September was going to be green.
15:28
[SPEAKER_01]: He was right there.
15:29
[SPEAKER_01]: So again, as much as, you know, he had
15:32
[SPEAKER_01]: You know, maybe not necessarily wrong just early on the the bottom floor there for most of the year.
15:38
[SPEAKER_01]: Bit-mind Ethereum, Tom Lee has been right as of late.
15:42
[SPEAKER_01]: So congratulations to him and his thesis and his team.
15:47
[SPEAKER_01]: But they keep kind of like sort of the original thing was called the alchemy of 5% they're going for 5% of Ethereum.
15:53
[SPEAKER_01]: And they're basically almost there.
15:56
[SPEAKER_01]: Yeah.
15:56
[SPEAKER_01]: And they continue as we know with, you know, the yield that they bring in.
16:02
[SPEAKER_01]: from staking their ethereum, they continuously have cash flow, which is good, and they're obviously putting that into buying more ethereum, and then earlier in the year they had all those announcements of investing into projects, and I think they partnered with Mr.
16:15
[SPEAKER_01]: Beast.
16:16
[SPEAKER_01]: So there's tons of stuff that they can do, and they seem to be hinting at a big announcement.
16:21
[SPEAKER_01]: So hopefully that comes soon, that'll be interesting to cover.
16:23
[SPEAKER_01]: Michael Sailer, also getting off the mat,
16:27
[SPEAKER_01]: Kind of doing a little bit of a victory lap.
16:30
[SPEAKER_01]: I didn't have that on the sheet, but I think I might be able to let's just see if he searched sail or I think he said he He phrased it in a fun fun way.
16:37
[SPEAKER_01]: I saw this week.
16:38
[SPEAKER_01]: Let's Where was that tweet?
16:41
[SPEAKER_01]: It was something like Let's see 21.
16:43
[SPEAKER_01]: Yeah, he's like we got a 21 billion dollar gain on digital assets in Q3 And last week we acquired 334 more Bitcoin.
16:51
[SPEAKER_01]: They keep repurchasing stretch
16:56
[SPEAKER_01]: always good to see and that stretch play that a lot of people did buying that dip seems to have worked out for now and then some more bullish news.
17:05
[SPEAKER_01]: The SEC approved first ever three X leverage Bitcoin and Ethereum ETFs.
17:12
[SPEAKER_01]: We've talked about a lot of platforms coming out with Perps, Brendan, especially in the U.S. Robinhood announced that last week.
17:18
[SPEAKER_01]: I'm sure Coinbase is next and so kind of that leverage that we've always seen maybe overseas is now coming and available to retail investors in the U.S. and then of course, you know, at the ETF market it's going to want to take advantage of that too and we've seen this in the eye craze of, you know, the, you know, the
17:36
[SPEAKER_01]: And we saw, I think Tesla was like the first one where you started getting those 2x daily bull, 3x daily bull, or inverse ETFs, and we always say with leverage, you got to know what you're doing, you got to be careful.
17:47
[SPEAKER_01]: These things are, they move fast in both directions, but it seems just like, you know, along with prediction markets and sports gambling, this is the environment that we're in.
17:58
[SPEAKER_01]: So what do you think of these ETFs come to the market?
18:01
[SPEAKER_00]: you know, I'm excited.
18:03
[SPEAKER_00]: I'll say this.
18:04
[SPEAKER_00]: You can already trade triple lever like indices, right?
18:09
[SPEAKER_00]: If you want to trade TQQQ or SPXL, like, you can trade triple leveraged versions of the NASDAQ and the S&P 500.
18:21
[SPEAKER_00]: Up until this point, you could trade a lot of different 2x leverage ETFs, whether it's stocks or crypto-related or whatever.
18:28
[SPEAKER_00]: You could trade 2x already on Bitcoin and Ethereum and MicroStrategy and the list goes on.
18:35
[SPEAKER_00]: I will say, I'm excited about this, right?
18:37
[SPEAKER_00]: But I like stuff like this.
18:40
[SPEAKER_00]: I'm a trader at heart.
18:41
[SPEAKER_00]: This gets me really excited.
18:43
[SPEAKER_00]: We get Bitcoin at three X leverage.
18:45
[SPEAKER_00]: We get Ethereum at three X leverage.
18:48
[SPEAKER_00]: And then they said, hey, we're also going to allow people to trade gold, silver, oil, natural gas, all these different things at three X leverage.
18:55
[SPEAKER_00]: My degenerate question here is, are we going to be able to trade options
19:04
[SPEAKER_00]: because if so,
19:07
[SPEAKER_00]: You better start praying now.
19:09
[SPEAKER_00]: Things are gonna get crazy.
19:12
[SPEAKER_00]: But no, you know, I'll do it to side I'm excited about this.
19:15
[SPEAKER_00]: I think it'll be fun.
19:15
[SPEAKER_00]: I think you got to be careful here.
19:17
[SPEAKER_00]: What people don't realize is that leverage ETFs, the higher the leverage on the ETF, the more of something called volatility to K that you get.
19:25
[SPEAKER_00]: It's basically that these things rebalance every day and the moves down hits significantly harder than the moves up.
19:32
[SPEAKER_00]: Not significantly, but the moves down hit harder than the moves up.
19:37
[SPEAKER_00]: If you get like, I don't know the numbers right off the top of my head, but basically if you get like a 30% decline, maybe that's like a 40% move back up that needs to happen to get that and then that's just made more extreme by these by these volatility ETFs.
19:52
[SPEAKER_00]: So then the moves down hit harder and you can have Bitcoin recovering back the all-time highs, but that leverage ETF can still be really far away from the all-time highs because of the volatility decay decreasing the value on the way down and then rebalancing every day.
20:07
[SPEAKER_00]: So it's a dangerous thing.
20:09
[SPEAKER_00]: You have to be really smart with this.
20:11
[SPEAKER_00]: Leverage is a dangerous game.
20:12
[SPEAKER_00]: There's a reason why we don't
20:14
[SPEAKER_00]: really talk about it too much or I would like to recommend it to people over here.
20:18
[SPEAKER_00]: You know, we think that it's something that should kind of be in its own category.
20:22
[SPEAKER_00]: But again, I think it's cool.
20:26
[SPEAKER_00]: I think that there's a time and a place for stuff like this.
20:29
[SPEAKER_00]: I would be interested to see what the fees are.
20:32
[SPEAKER_00]: I would imagine that if it's going to offer you through X leverage, there's going to be a decent fee that's going to be attached to it.
20:39
[SPEAKER_00]: So that'll be interesting to watch.
20:40
[SPEAKER_00]: And then the other thing is,
20:42
[SPEAKER_00]: Uh, you know, again, are you going to be able to trade options on these at a later point time?
20:47
[SPEAKER_00]: That would also be crazy.
20:48
[SPEAKER_00]: So.
20:50
[SPEAKER_00]: Yep, I would say, I'm excited, right?
20:53
[SPEAKER_00]: Is it gonna be a net positive for the space?
20:55
[SPEAKER_00]: I don't know about that.
20:58
[SPEAKER_00]: I don't know, it'll be a net positive, but it's something that I'm net excited about.
21:02
[SPEAKER_00]: And I guess the other important thing to distinct here is that these are not going to be spot-based ETFs, right?
21:09
[SPEAKER_00]: Where when you buy $1,000 worth of the ETF, you're not actually buying $1,000 worth of Bitcoin and neither is the group behind this.
21:17
[SPEAKER_00]: This is orchestrated, as it says here, the CME futures contracts, and not necessarily a spot that coin our theory and three-exelebrity TF.
21:27
[SPEAKER_00]: So there's a distinction there, it's meant to mimic price action, and not actually be the true price action.
21:34
[SPEAKER_01]: Yes, you wonder if that might take away some flows of spot buying as always kind of a fear as well.
21:41
[SPEAKER_01]: But if that doesn't get you excited, all that news, right, and we do have one thing.
21:44
[SPEAKER_01]: I'm not sure if you saw this on the timeline, but
21:47
[SPEAKER_01]: We had we had a sighting.
21:48
[SPEAKER_01]: We had a crypto bagel sighting last week.
21:50
[SPEAKER_01]: It was it was official last week.
21:53
[SPEAKER_01]: I just I don't know how I was feeling it.
21:55
[SPEAKER_01]: I was getting pulled up for up October.
21:57
[SPEAKER_01]: This was last weekend.
21:59
[SPEAKER_01]: So if we want to, we'll just make a note and we'll see how the rest of the year goes, but we have September 28 at 945.
22:04
[SPEAKER_01]: We got a crypto bagel.
22:08
[SPEAKER_00]: important distinction where was this bagel made was it up north or is it down south.
22:12
[SPEAKER_00]: It's it now it's in it was at home at Florida.
22:14
[SPEAKER_00]: The last one was made you can see the up north.
22:17
[SPEAKER_01]: This one is a Florida bagel but the bakery that I get it from is an old Brooklyn couple.
22:23
[SPEAKER_02]: So we'll have to see if the Florida could go bagel comes through.
22:26
[SPEAKER_01]: It'll be a fun little tagline.
22:28
[SPEAKER_02]: We have the date there.
22:29
[SPEAKER_01]: We'll check back on it.
22:30
[SPEAKER_01]: Maybe you know once a month in November and December as we head into the closing of the year here.
22:35
[SPEAKER_00]: But there was a crypto bagel sighting, so that's always, that's always, that's always at least a fun thing.
22:40
[SPEAKER_00]: I'm plotting it on my chart as we speak, so don't you worry.
22:44
[SPEAKER_01]: Last one worked out pretty well.
22:46
[SPEAKER_01]: I believe it was August 25 or July 25 as we ran up into all-time highs.
22:51
[SPEAKER_01]: So we'll see how this one comes out.
22:55
[SPEAKER_01]: And I put that out there just because, again, it's all that news.
22:57
[SPEAKER_01]: Like the price action finally started to follow me.
22:59
[SPEAKER_01]: You know, we've been doing this for years now as a team.
23:03
[SPEAKER_01]: but it felt like this year was one of those times it was a bear market and we're just recovering the news and we're finding all this positive news and the price action just wasn't following it and uh... and hyper liquid has been in the news so much this year and it was something that i know our team called super early
23:19
[SPEAKER_01]: and our whole team was fully on board with this at a much lower level.
23:23
[SPEAKER_01]: So that's all the more reason to go in the description.
23:25
[SPEAKER_01]: Check the links, get involved with the communities.
23:27
[SPEAKER_01]: You get these first alerts to understand where our team is looking in these markets.
23:31
[SPEAKER_01]: But Hyper Liquid is perps are now live on the Bloomberg terminal.
23:36
[SPEAKER_01]: I feel like that's a phrase like a year ago, at the beginning of the year, like, you have been like, oh my god, can you imagine if Hyper Liquid partnered with Bloomberg?
23:45
[SPEAKER_00]: Yeah, and here they are.
23:47
[SPEAKER_00]: I think it speaks to how large they have gone and how significant that they've gotten, but there's still so much room to grow.
23:55
[SPEAKER_00]: What, I think a lot of crypto natives fail to realize is that most people who aren't a big part of the crypto ecosystem still don't know what hyper liquid is.
24:07
[SPEAKER_00]: You'd be surprised, even though I have a bunch of friends down here and they all like to do different sports bedding and event contracts and things like that.
24:16
[SPEAKER_00]: I don't like where do you guys do this, you know, polymarket or calcium, they're like, no, I don't really know about those much and they just do it on like
24:25
[SPEAKER_00]: the old apps that like someone like you or I or Brian or Joe we'd be like, why would you ever use like draft kings or a fan door or something like that to try to get exposure to those.
24:35
[SPEAKER_00]: You know, why why wouldn't you just use like polymarket or calcium or hyper liquid?
24:39
[SPEAKER_00]: Why brought that up to them?
24:40
[SPEAKER_00]: And they like kind of knew what polymarket and calcium were and then I brought up hyper liquid and make a hyper liquid.
24:45
[SPEAKER_00]: What is that?
24:46
[SPEAKER_00]: I've never heard of anything like that.
24:47
[SPEAKER_00]: That's such a weird name.
24:50
[SPEAKER_00]: But I think that's where the bulk of the US-based customer at least is still standing like they're not aware of this thing yet hyper liquid continues to grow so they grew a lot now they have this big partnership with Bloomberg terminal because of housing significant they've gotten and
25:06
[SPEAKER_00]: If they get allowed into the States, I mean, clearly there's demand for this stuff.
25:10
[SPEAKER_00]: I think that there's still a lot of growth potential there.
25:13
[SPEAKER_00]: Because if people, my age, I'm talking about people that are probably mid-20s to mid-30s.
25:19
[SPEAKER_00]: If those people who are like, be prime demographic for something like this,
25:25
[SPEAKER_00]: If they're not aware of it yet, then I would argue that very few people are in perspective, and it's easy for us in our bubble to think, oh, everyone already knows about this.
25:34
[SPEAKER_00]: It's so big.
25:35
[SPEAKER_00]: One in reality, it's not.
25:36
[SPEAKER_00]: And that was an eye-opening opportunity for me.
25:39
[SPEAKER_00]: And again, this is showing hey, they're growing, they're big.
25:41
[SPEAKER_00]: You're not going to get added to Bloomberg terminal.
25:44
[SPEAKER_00]: If they think, oh, this is just a quick fad, and it's going to be out of here, by the end of the year, or by the end of this cycle.
25:54
[SPEAKER_00]: So, yeah, what a, what a saying here, 24, 7 perps and everything and you get it all through Bloomberg, terminal now.
26:05
[SPEAKER_01]: yeah Bloomberg again just infamous with markets and trading and if there if you want more evidence of crypto and uh and traditional finance merging it is literally all over the place all you got to do is open up in article about uh token i stocks or twenty four seven trading it's all over there we're going to cover that later in the show
26:25
[SPEAKER_01]: one more thing with another pick that our team called super super early was aerodrome and we've had a velodrome on the podcast too.
26:34
[SPEAKER_01]: I believe we're actually talking to them this week right Thursday.
26:36
[SPEAKER_01]: Yeah we are.
26:37
[SPEAKER_01]: Yeah we've had some some great great podcast recently another one to add up there.
26:41
[SPEAKER_00]: Sorry we're not not this week.
26:44
[SPEAKER_00]: We're talking to Solana strategies this week.
26:48
[SPEAKER_01]: Yes, that's right, but is that maybe next week?
26:50
[SPEAKER_01]: I know they're coming up.
26:51
[SPEAKER_01]: I sent them by maybe it's this month Yeah, they're coming up this month Soul strategies this week right the CEO of soul strategies coming on get a little salana update But some big big news coming out of arrow and and Velo
27:05
[SPEAKER_00]: Yeah, yeah, that we are this is something that a lot of people have been waiting for, you know, pretty important update here.
27:12
[SPEAKER_00]: What you're basically going to be getting is Velodrome merging with Aerodrome and they're going to be merging into Arrow previously these were, yeah,
27:21
[SPEAKER_00]: I guess you could say two sister projects and companies, but kind of doing their own thing.
27:26
[SPEAKER_00]: Velodrome was the big decentralized exchange and platform for optimism, erodrome obviously the big one for the base layer two ecosystem.
27:35
[SPEAKER_00]: Velodrome is going to be emerging into erodrome now with this upgrade.
27:39
[SPEAKER_00]: And out of this, we're going to get a couple of other
27:42
[SPEAKER_00]: I think it's important distinctions as well.
27:45
[SPEAKER_00]: Number one, they're going to be trying to really limit and get a hold of future emissions and inflation and things like that, which I think is something that people have wanted, because there has been a decent amount of that kind of...
28:01
[SPEAKER_00]: you know impacting the token price so they basically said hey you know we're going to be having more control inflation we're going to be trying to put gauge caps on things like emissions and other things and then we're even going to open up the doors towards possible buybacks.
28:18
[SPEAKER_00]: Now supportness to kind of understand here this is not a buyback and burn on a consistent basis based off of like you know oh how much we make on our our swap these
28:29
[SPEAKER_00]: No, it's a little bit more nuanced than that, and we'll have to see exactly how this plays out.
28:34
[SPEAKER_00]: But they're opening up the doors to say, hey, we could do these arrow buybacks into the future, and that could maybe come in a couple of different ways.
28:43
[SPEAKER_00]: We'll have to kind of see how it plays out.
28:44
[SPEAKER_00]: But that is something that they're opening up the door to now.
28:47
[SPEAKER_00]: And then the final one is them saying we're also going to be expanding beyond just the
28:52
[SPEAKER_00]: base L2 right we're going to be opening up the doors to be coming a multi-chain platform and company where we can not only interact with what's happening on on the base L2 but maybe looking at optimism and the the eighth main chain and other places as well and they're going to try to really
29:12
[SPEAKER_00]: You know, become a hub for this and a centralized place where people can do all these different activities on chain, whether it's defy or trading or whatever it may be.
29:21
[SPEAKER_00]: And the cool thing here is that
29:24
[SPEAKER_00]: You know, Coinbase on this post-TV, basically has been a big supporter of AeroDrum, right?
29:30
[SPEAKER_00]: Because they've been a big supporter of Coinbase's L2 called base, big supporter of them, helping them out, big contributor to TVL, big factor in actually growing that ecosystem in what it's become.
29:43
[SPEAKER_00]: And Coinbase here is saying, hey, you scratch our back.
29:45
[SPEAKER_00]: We'll scratch yours.
29:46
[SPEAKER_00]: I believe last year they got that.
29:48
[SPEAKER_00]: Next, integration where you could trade base-related things through aerodrome, through kind of that decentralized exchange integration that Coinbase added.
29:57
[SPEAKER_00]: This is them going a step further and saying, hey, you know, thanks for being a contributing member to our L2.
30:02
[SPEAKER_00]: We're going to go ahead and announce that we are supporting this migration of arrow and velodrome into that new aerodrome token from November 2nd to November 4th.
30:13
[SPEAKER_00]: So if you are an aerodrome holder or you are a velodrome holder,
30:18
[SPEAKER_00]: Coinbase is going to be supporting this, which is nice, because they've been a lot more hesitant to do that in recent years.
30:26
[SPEAKER_00]: There's been a lot of other tokens that they just said, hey, we're not going to support this kind of thing.
30:31
[SPEAKER_00]: And you have to sell it off.
30:32
[SPEAKER_00]: You have to trade it to a wallet.
30:34
[SPEAKER_00]: You got to do things like that.
30:36
[SPEAKER_00]: Even the tokens that were like pretty reputable and pretty well-known.
30:39
[SPEAKER_00]: But this is one of the few tokens that they're saying, hey, we're going to support.
30:43
[SPEAKER_00]: So they make it easy on you.
30:44
[SPEAKER_00]: If you own these tokens, definitely make sure to follow along.
30:47
[SPEAKER_00]: and Coinbase Markets has been posting instructions on this.
30:51
[SPEAKER_01]: Yeah, it's some will continue to cover if there's any new news out.
30:54
[SPEAKER_01]: Maybe we could do a final recap of what needs to be done.
30:58
[SPEAKER_01]: If you're a token holder here, that would be approached these dates or something that will circle back on.
31:04
[SPEAKER_01]: As we wrap up the show, one more big item here.
31:06
[SPEAKER_01]: The CFTC, we got a little clip of Michael Sealy talking about crypto, crypto, framework, and I think it's really important to do this because if you have not listened,
31:15
[SPEAKER_01]: to the episode that I released yesterday, Brendan and Bryce did an awesome update with Christopher John Carlo, the former CFTC chairman.
31:24
[SPEAKER_01]: I've talked about this interview a lot.
31:26
[SPEAKER_01]: It was one of my favorites.
31:27
[SPEAKER_01]: It's not the favorite of the year.
31:29
[SPEAKER_01]: From when we were at the outie's conference, we met Christopher in person, Bryce interviewed him.
31:34
[SPEAKER_01]: And it was the first time somebody laid out how, you know, if the clarity act doesn't go through, he still sees, you know, regulation getting put in place by the SEC chairman, by the CFTC
31:45
[SPEAKER_01]: Everything's basically happened just as he kind of laid it out and him being a former CFTC chairman there's no better person to hear from.
31:52
[SPEAKER_01]: So if you haven't listened to that episode definitely go back it just was released Monday, October 5th.
31:59
[SPEAKER_01]: So if you haven't listened that go back but now let's listen a current CFTC chairman what he's talking about as they continue to do crypto work and regulation.
32:07
[SPEAKER_02]: We've got statutory authority, and we're going to use that the SDC is doing the same.
32:10
[SPEAKER_02]: They issue their proposed flag crypto assets, which is kind of the framework for distributing crypto assets.
32:16
[SPEAKER_02]: And it's open.
32:17
[SPEAKER_02]: Some selves are not securities, and most instances, they need a place to trade.
32:21
[SPEAKER_02]: And we saw four years ago in the collapse of the text, many of these exchanges, even if they're licensed at the state level, don't have market-based regulations to work put
32:29
[SPEAKER_02]: in place market based regulation, anti-immunipulation, anti-thquad, segregationist race, that's a segregation of functions between brokers, exchanges, and clearing.
32:40
[SPEAKER_02]: And we expect customers to want to trade on these platforms to grow federally regulated.
32:45
[SPEAKER_02]: It's an option.
32:46
[SPEAKER_02]: We don't have the ability to say every exchange needs to register with us, as the clarity I've done.
32:52
[SPEAKER_02]: We can create a control option, that's exactly what we're doing here today.
32:54
[SPEAKER_02]: We need to have a federal option.
32:56
[SPEAKER_02]: If you say not everybody has to do it with this plugin.
32:58
[SPEAKER_02]: It's sort of like the banking model, right?
33:00
[SPEAKER_02]: You can get a charter at the state level or the federal level and you're able to engage in certain domestic activities.
33:05
[SPEAKER_02]: With federally regulated crypto markets, you're able to offer margin leverage or financing.
33:10
[SPEAKER_02]: So that is a special authority that you're not able to do at the state level states are only able to offer money transmission activity.
33:19
[SPEAKER_02]: Right?
33:19
[SPEAKER_02]: These are all places.
33:20
[SPEAKER_02]: This is money transfers, so it's more of a payment performance.
33:23
[SPEAKER_00]: Really?
33:25
[SPEAKER_01]: So to cut it off there, basically, you know, again, laying the rules of the road, letting the businesses opt in.
33:31
[SPEAKER_01]: And so again, as a user, you're going to want to follow the businesses that do opt in.
33:35
[SPEAKER_01]: And this is the industry, kind of being allowed to create their framework with the federal government, instead of being mandated, which again, the clear deck would do.
33:41
[SPEAKER_01]: This kind of gives the option.
33:43
[SPEAKER_01]: But again, the thesis from what we've heard from people at Chris for John Carlos, the SEC and the CFTC are going to be working to implement these regulations.
33:50
[SPEAKER_01]: And then come two years from now, three years from now, the whole banking system might be implementing these rules, regulations, and products that will be so hard to unwind.
33:59
[SPEAKER_01]: So even if a different administration comes in and might be anti-crypto, the Liz Warren anti-crypto army, the banking system at this point with all the talks of tokenized assets, tokenized stocks.
34:11
[SPEAKER_01]: So, you know, 24-7 trading using kind of crypto rails, it might be too integrated into the system to even unwind at that point.
34:20
[SPEAKER_00]: Yeah, and that's really the goal is that it does get so intertwined with what not only like the institutions are doing, but what the everyday person is used to that it just becomes too big to kind of undo.
34:40
[SPEAKER_00]: or in the very least, you kind of hurt your numbers and the polls.
34:43
[SPEAKER_00]: So that is the idea there.
34:45
[SPEAKER_00]: And I think that it's good to hear that not only was like the former CFTC chairman, like very optimistic on this stuff, but also the current one is as well.
34:54
[SPEAKER_00]: And for the most part, it seems like a lot of the people who are in power, whether that be in a like institutional power position, right?
35:03
[SPEAKER_00]: The Larry things and those guys, or the people who are in a position of
35:09
[SPEAKER_00]: power within the government, when it comes to the financial system, the vast majority of them are all pretty positive about the state of crypto and blockchain and tokenization and stablecoins and all these different areas that I think you could say are within the span of cryptocurrency, they're very optimistic on it.
35:27
[SPEAKER_00]: There's very few people that aren't and besides Gary Gensler,
35:32
[SPEAKER_00]: who isn't around anymore like that's the only person that I remember being like adamantly against this stuff and now everyone's for it so the institutions want it the people in the administration want it um
35:47
[SPEAKER_00]: you gotta be excited about something like that.
35:49
[SPEAKER_00]: Again, I think it's hard to be bearish.
35:51
[SPEAKER_00]: They want to regulate it in a good way that benefits everyone and the institutions one of that way.
35:56
[SPEAKER_00]: So I just don't see a world where we don't get this happening.
35:58
[SPEAKER_00]: I think it's just a matter of time.
36:00
[SPEAKER_00]: I think they'll continue to work on this.
36:02
[SPEAKER_00]: And as this happens, more people get access.
36:04
[SPEAKER_00]: People will be able to use it more safely.
36:07
[SPEAKER_00]: And that's the end goal.
36:09
[SPEAKER_01]: great point.
36:09
[SPEAKER_01]: It's great breakdown and we're going to have to leave it there because right at an eye after meet up with Bryce to record another great interview for the Crypto101 podcast.
36:17
[SPEAKER_01]: I want to give a shout out to the chat we had Yolo, Yolo, East Coast Lobster, Southern California, Canada, another international rundown on this Tuesday, Brendan.
36:26
[SPEAKER_01]: I thank you so much for joining us and I thank you everybody.
36:29
[SPEAKER_01]: for tuning in.
36:29
[SPEAKER_01]: One last call, give it a like, bottom, bottom right if you're new, hit our logo and subscribe.
36:34
[SPEAKER_01]: We'll be back later in the week with Brian on Friday to cover, you know, some more mean points, some more fun action with another rundown, but that's going to be all for now.
36:42
[SPEAKER_01]: Thanks for watching.
36:43
[SPEAKER_01]: Bye, everybody.