Latest / Simply Bitcoin / Bitcoin CRASHES to $110K | Whale Attack or Bull Trap? | Simply Originals

Transcript

Bitcoin CRASHES to $110K | Whale Attack or Bull Trap? | Simply Originals · Simply Bitcoin

• 0:00
  Bitcoin just nuke down to 110 K in only minutes yesterday.
• 0:04
  Liquidations everywhere, people screaming jail time on Twitter.
• 0:10
  Well X and whales unloading billions like it's nothing.
• 0:14
  But here's the question. Is the bull run actually over or
• 0:18
  is this the ultimate dip for ants?
• 0:21
  Today we're breaking down the crash, the whale games, the Fed
• 0:26
  and the US debt spiral. Plus Larry Fink and Tim Draper
• 0:30
  just basically said Bitcoin is your defense against the big
• 0:35
  print. Probably nothing.
• 0:37
  And then we have Jerome Powell fumbling the ball live on TV.
• 0:42
  This could be one of the most important episodes of the year.
• 0:45
  So welcome back and buckle up because it's time to shut you.
• 0:54
  At 3:30 PM New York time, Bitcoin dropped from 114,000 to
• 0:59
  110 K in just minutes. That's 640 million in longs
• 1:04
  liquidated in 24 hours. X went absolutely nuts.
• 1:08
  Some even claimed Bitcoin went under 110K when it didn't.
• 1:13
  Well, not yet. And social media panic was a lot
• 1:16
  louder than the actual event. Here's what happened.
• 1:19
  A whale who has been sitting on 100,000 plus Bitcoin since 2017
• 1:25
  moved 24,000 Bitcoin worth 2.7 billion to an exchange and they
• 1:30
  dumped and then apparently, allegedly, they rotated into the
• 1:34
  mother asshole from which the shit coins spring.
• 1:37
  That's not a crash, that's a transfer of wealth and a great
• 1:40
  way to send $2 billion plus to 0.
• 1:44
  But hey, if you're into that like this guy, that matter.
• 1:47
  But this isn't bearish, it's actually bullish.
• 1:50
  Old whales are distributing, ants are stacking, and the
• 1:53
  monitor monetization of Bitcoin continues.
• 1:56
  This is healthy. Every cycle needs these whales
• 1:59
  to cash out for the rest of us to get in.
• 2:02
  Zoom out. Bitcoin is still within 10% of
• 2:05
  all time highs. The big dog selling is nothing
• 2:08
  compared to the ants. Smaller wallets under 10 BTC are
• 2:12
  still in massive accumulation mode.
• 2:14
  Such a beautiful thing to see. And this is literally the most
• 2:17
  decentralized wealth transfer in human history.
• 2:20
  And Mr. Orange is still buying strategy.
• 2:24
  He just picked up another 3000 Bitcoin.
• 2:26
  That's 357 million at 115. Ki was going to say he bought
• 2:31
  the dip, but I technically didn't.
• 2:33
  Regardless, they now hold over 632,000 Bitcoin.
• 2:37
  If Sailor ain't worried, neither should you.
• 2:39
  Now let's talk about why this dip might be more bullish than
• 2:44
  anyone realizes. Listen to this from BlackRock
• 2:46
  CEO Larry Fink. The view that there's a lot of
• 2:50
  legitimacy with Bitcoin, certainly the technology around
• 2:54
  the blockchain around Bitcoin was pretty unrivalled and it
• 2:58
  still is. And I became a believer in in a,
• 3:05
  you know, not like it's going to be a currency, but I believe
• 3:07
  that there's a role for it like like like digital gold.
• 3:12
  And since most of Blackrock's business is based on long
• 3:16
  termism, and I always raise the question, why would anybody
• 3:20
  invest in a 20 or 30 year outcome unless you're, you
• 3:23
  believe the 20 or 30 year outcome is going to be good?
• 3:27
  Because if you didn't believe in the over a 2030 year horizon
• 3:30
  that you're going to that those long term investments would be
• 3:32
  better, you would keep all your money in a bank account or in a
• 3:35
  mattress. And so, you know, all our
• 3:38
  business is based on hope. And I said, you know what?
• 3:41
  Bitcoin is a currency of fear. You own Bitcoin because you're
• 3:45
  frightened of your security in your country.
• 3:47
  You own Bitcoin because you're frightened of the debasement of
• 3:50
  your currency. The stinky finky is at it again.
• 3:53
  That's a $12 trillion man telling you Bitcoin is the hedge
• 3:57
  against government debasement. And it comes right on cue
• 4:00
  because the US national debt is exploding.
• 4:04
  A trillion dollars added in 48 days.
• 4:07
  That's 21 billion per day. And at this pace, we'll hit $40
• 4:11
  trillion in debt by 2027. Folks, look at this.
• 4:15
  Look at it. This is World War Two level
• 4:17
  deficit spending in a so-called strong economy.
• 4:20
  It's not a rate problem. It's a spending crisis.
• 4:23
  And Tim Draper nailed it. At about 110 thousand $111,000,
• 4:28
  what is the your bull case for what happens next?
• 4:32
  We've obviously had a big run up.
• 4:34
  There's been a little bit of a pullback more recently.
• 4:37
  What is the the next inflection point if you see one?
• 4:41
  So I've been, I've been predicting $250,000 for a
• 4:47
  Bitcoin for a long time. It turns out I haven't been
• 4:51
  right yet, but we've we've gotten halfway there.
• 4:54
  So that's very exciting. But, but Bitcoin is a hedge
• 5:00
  against bad governance, against government spending inflation,
• 5:06
  which you heard from the last speaker.
• 5:10
  Bitcoin is, is your alternative that allows you to deal with
• 5:17
  the, the major changes that are happening in government policies
• 5:22
  over time. And, and you're seeing it in, in
• 5:27
  many, many different places. And, and it's sort of Bitcoin
• 5:31
  started in places where you wouldn't expect something to
• 5:34
  start. It started in Nigeria and in in
• 5:38
  Argentina and in El Salvador and in Malta, places where you would
• 5:44
  think new technologies wouldn't really occur, except those were
• 5:50
  the places where in the case of Malta it was freedom.
• 5:54
  But in the in the other cases, they weren't confident about
• 5:58
  currencies. And over the long haul, we're
• 6:02
  seeing government spending just, you know, uncontrolled and it
• 6:06
  just keeps going. Government spending as a
• 6:09
  percentage of GDP has gone on a rapid tear over the last 100
• 6:15
  years. And and it it doesn't look like
• 6:18
  it's slowing down in any way. And your only hedge against that
• 6:23
  kind of government spending is is Bitcoin.
• 6:26
  Exactly, This is why you smash by and huddle through dips.
• 6:29
  Because long term Bitcoin is the only hedge that matters now.
• 6:33
  We're about to bring it home today, but before we do, look at
• 6:36
  our likes. Three or.
• 6:37
  Four times maybe I pump those numbers up.
• 6:39
  Those are rookie numbers in this racket.
• 6:40
  Quick shout out to our sponsors powering this show and keeping
• 6:43
  you sovereign. If you want to learn self
• 6:45
  custody the right way, hit up the bitcoinway.com.
• 6:48
  They'll get you set up with multi sig privacy inheritance
• 6:51
  since planning the the works, no tech skills required.
• 6:54
  The team over at The Bitcoin Way has got you covered from start
• 6:57
  to finish on your Bitcoin journey.
• 6:59
  Don't be caught holding Ious when Valhalla arrives.
• 7:02
  Schedule a free 30 minute consultation using that link in
• 7:05
  the show notes. Once you've got your Bitcoin
• 7:07
  secured, here's how to make it work without ever selling a SAT
• 7:10
  Check out our friends at Leaden Secure Bitcoin backed loans for
• 7:14
  whatever life throws at you. If you ever need to tap into
• 7:16
  your Bitcoin's value without selling it, boom, you're holding
• 7:19
  pristine collateral. Leaden has funded over 10
• 7:22
  billion in Bitcoin backed loans since 2018.
• 7:26
  No monthly payments, no penalties, just flexibility.
• 7:29
  You control your loan, you control your Bitcoin collateral
• 7:32
  is never lent out to generate interest in every six months
• 7:35
  proof of reserves Need cash but don't want to sell your precious
• 7:38
  corn? Leaden has your back.
• 7:40
  Go to learn dot leaden dot IO slash Simply and simply, Bitcoin
• 7:44
  clients will get 25 basis points off their first loan.
• 7:47
  But now let's talk about the Fed markets pumped on pals, the
• 7:51
  Jackson Hole speech betting on September cuts.
• 7:54
  But did the market get fooled? I'm old enough to remember 24
• 7:58
  hours ago when we got the Fed minutes and they were fairly
• 8:00
  hawkish. Now we get this speech which is
• 8:03
  fairly dove I guess dovish ish. But what happened between the
• 8:08
  Fed minutes were from a meeting just a couple weeks ago.
• 8:13
  It's we kind of feel like we're all over the place.
• 8:15
  I'm sorry. Yeah, that was the perplexing
• 8:18
  thing. And Powell spoke 3 1/2 weeks ago
• 8:21
  and didn't tip his hand to any of this.
• 8:23
  And then the minutes, as you say, reading through it,
• 8:25
  several, many, most talked hawkishly within that meeting.
• 8:30
  And so there was no sort of hint.
• 8:33
  And that's why the rate cut odds were only 66% going into today.
• 8:38
  So they kind of fooled us. And maybe Powell just woke up on
• 8:41
  a different side of the bed this morning and changed his speech
• 8:44
  to being more dovish than hawkish.
• 8:46
  Fooled. I don't know, man.
• 8:47
  Who's who's the real fool here? Let's go ahead and roll Powell
• 8:51
  fumbling live trying to explain why 2% theft is price stability.
• 8:56
  Public for those working families of people.
• 8:58
  Why 2%? Why is getting it to 2% so
• 9:00
  important? So that's that has become the
• 9:03
  globally agreed essentially all major central banks target 2%
• 9:07
  inflation in one form or another and.
• 9:11
  How does that help my Nevada families?
• 9:13
  How does that help people? And I'll tell you how it does
• 9:15
  and it, it, it's, I guess it's, it's obviously not, it's not
• 9:19
  obvious how that is. But what 2% inflation to have
• 9:23
  people believe that inflation is going to go back to 2% really
• 9:26
  anchors inflation there because, you know, the evidence is, is,
• 9:30
  and, and the, the modern belief is that people's expectations
• 9:34
  about inflation actually have a real an effect on inflation.
• 9:37
  If you expect inflation to go up 5%, then it will, you know, if
• 9:41
  everyone kind of expects that because that's what businesses
• 9:44
  and households will be expecting and, and it'll kind of happen
• 9:47
  because they expect it so. Unbelievable.
• 9:49
  This is the head of the most powerful central bank in the
• 9:52
  world and he can't even explain why your savings should be
• 9:55
  stolen at 2% a year. Parasites are those little like
• 9:59
  screwworm things in suits. They slowly eat us alive.
• 10:02
  But Bitcoin fixes this. So let's sum it up.
• 10:05
  Bitcoin dumped TO110K. Well sold and stacked sailors
• 10:10
  still buying later. Fink admits Bitcoin is the only
• 10:12
  hedge the US debt crisis is spiraling.
• 10:15
  Tim Draper also agrees Bitcoin is the answer.
• 10:17
  And pal, still clueless. Probably cutting, but we know
• 10:20
  how this plays out at the end of the day, don't we?
• 10:22
  Nothing stops this train. Make no mistake, this isn't the
• 10:27
  end of the bull market. This is the beginning of the
• 10:29
  greatest transfer of wealth in history.
• 10:32
  Now before we get out of here, don't miss Mining Disrupt 2025,
• 10:36
  the biggest Bitcoin mining Expo on earth is coming in hot.
• 10:39
  November 11th through the 13th in Dallas, TX.
• 10:42
  Meet the legends building the hash power revolution, sovereign
• 10:45
  mining, AI and Bitcoin integration.
• 10:47
  This is where the next wave of Bitcoin history is being
• 10:50
  written. So grab your tickets today and
• 10:52
  use promo code simply Bitcoin for 20% off and we'll see you at
• 10:56
  the news desk. Hey, hope you guys enjoyed this
• 10:58
  one. Let us know what you think below
• 11:00
  as well. Was this the damp before the
• 11:02
  pamp? And don't forget to like
• 11:04
  subscribe and give us a pant by sharing the sound money gospel.
• 11:07
  Set those notifications for the best in Bitcoin news delivered
• 11:09
  to you daily. Love you guys, catch you next
• 11:12
  time if you. Prefer to go down with.
• 11:15
  The ship.