BITCOIN & ALTCOINS WILL DUMP BEFORE A HUGE PUMP!

Episode Transcript
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Speaker 1 (00:04):
Hey, everybody, Welcome into the Thinking Crypto podcast. You're home
for cryptocurrency news and interviews. I'm your host, Tony Edward
on your weight in. Please let that subscribe button as
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If you're listening on a podcast platform such as Spotify
or Apple, please leave a five star rating and review. Folks,
we've got to take a look at the price here

(00:24):
because bitcoin is below one hundred and fifteen thousand dollars.
Once again, we're seeing red on the charts. Everything's bleeding
out right now. But this should come as no surprise
because what have I been telling you guys over the
past two weeks on the podcast in my newsletter that
on the weekly chart the MAC these shows the bears
are in control. And I didn't like what I was

(00:46):
seeing on a chart. I said that so many times. Right,
I have the receipts. So the point is that data
was showing us what's the common. Sometimes it does take
some time for these things to play out, but it's
all cyclical, right. I often highlight the MACD showing where
bulls are in control and now bears are in control.
But that's okay. This is just short term, and we've

(01:07):
seen when bitcoin becomes over sold. You know, we look
at the RSI and the daily chart, it's heading back
to that over soul zone, which is about thirty or below,
and then we're going to bounce from there. So the
market may need to feel a bit of fear, right,
you have the sentiment reset and then the bulls takeover.
It's the same cyclical pattern. But the important thing is

(01:28):
from the macro, the bull market is still intact. Our
support levels are there, our macro factors are there, our
signals are there. The things that have flash at the
top have not flash right. So it's just the patience
part of this market. So this is where I know
it's hard. I know it's boring. I know some of
you are losing confidence, but don't be emotional, be educated.

(01:49):
This is why I'm sharing the data points with you,
why I've been sharing the mac D again. It's in
my newsletter as well. Right my last newsletter I put
that I gave the warning saying, hey, look, bears are
still in control here, so just shouldn't come as a surprise.
But I know, you know, it's hard to see the
market go through these turmoil and boring and volatile moments,

(02:10):
but this is how you make money. You got to
stomach through this and you've got to be patients. So
right now you got to use a lot of patients
because you know, it's been pretty boring. Nothing much happening,
but we're gonna get back on track, so don't get
shook out. That's what the whales and market makers want
you to do. If we look at global liquidity, as
I've been sharing with you guys, it is hitting new

(02:30):
all time highs. This thing is not over. In addition,
we continue to see bitcoin whales based on on chain
data with wallets of ten or more bitcoin continue to accumulate.
They're not dumping. So again, these are just a couple
of metrics. There are more, but I just want to
highlight that everything is still intact. Just the short term.
We got in the micro, we got volatility we got

(02:51):
to deal with and we've got to be patient. But
the macro everything is still on track. And you know,
we've been looking at even the stock market, you know
that has been hitting new highs some P five hundred
and that's that and much more. And as I've been
stating recently, you know, gold was leading the market, as
we've seen many times throughout this bull market. Then it
cools down there and there's a rotation to stocks, and

(03:13):
then I think crypto is going to follow. So everything
still on track, folks, Again based on the data, not
feelings or emotions. So this is a time to exercise
a lot of patients. If the charts and your portfolio,
look at your portfolio bothers you right now, don't look
at it. I haven't looked at my portfolio because there's
volatility right now. There's not much to pay attention to here,
So don't look at your portfolio every day. That's that's

(03:35):
a big trick in staying patient and keeping your mental
health right because looking at these things every day and
oh my god, my portfolio just went down it that'll
drive you nuts. Don't do that, right. So I've learned
that lesson being here from multiple bull and bear market cycles.
So again, guys, expect more downside, but we're going to

(03:56):
find that support level and then the sentiment's going to
be reset and then the bulls are going to take
over and we're going to have a monster rally. And look,
seasonality wise, Q four, I mean has always been incredibly
great especially in bullmarket years. Right, beer market year is
not so much. But we're we're in the third bullmarket
year and Q four is setting up to be pretty great,

(04:20):
and it's going to be for all market stocks and
so forth. So your patience will be rewarded, folks, quickly
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look at this news. You know we were talking about

(05:25):
we're still in the bullmarket. Arthur Hayes, who I've had
on the podcast, you know, he mentioned the following cryptos
ready for up only mode once the US Treasury General
Account hits eight hundred and fifty billion dollars target. Now
we've seen this throughout this bullmarket, not just under Trump,
but when Jenny Yellen was running things under Biden as well.
They've done some pseudo QE with the Treasury, so I

(05:48):
think he's right. Let me give you the details of
what he had to say. Crypto markets will enter up
only once the United States Treasury hits its target goal
of filling the General Account the TGA, the Treasury Department's
bank account, with eight hundred and fifty billion dollars. According
to Arthur Hayes, co founder of bitmexs crypto Exchange, with
this liquidity drain complete up only can resume Hayes' roads

(06:11):
on Friday, as the US TGA's opening balance cross eight
hundred and seven billion dollars. When the Treasury is filling
its general account, the funds are generally sequestered and do
not flow into private markets. Many crypto investors and traders
anticipate rising liquidity levels in the coming months as the
US Federal Reserve leans into interest rate cutting cycle, which

(06:32):
should boost asset prices until liquidity dries up and rate
tightening process begins again. So once again global liquidity on
the rise. Rates are being cut by the Fed. Obviously
they just cut by twenty five basis points and there's
more cuts that are scheduled. So I think the table
is being set here for the bull market to continue.

(06:53):
And once again we already see global liquidity is breaking
into new highs. So I think Arthur is spawn on here.
This is something he's been tracking over the past couple
of years as we've been in the bull market, and
it's been on point right, So let's see. I don't
know if the Fed's going to go full QWI like
they have in the past, but they're doing pseudo qi

(07:14):
working with the Treasury moving ahead, Coinbased CEO sets sites
on replacing banks with crypto super app. So everybody is
trying to set up these web three apps that offer
all in one financial services and features and a lot
of on chain services of course. And you know, I
think it was Sandy Call of Franklin Templeton, who I've

(07:36):
had on a podcast a few times, where she said,
we're moving away from an account based setup, which would
be like your banks, to a wallet based setup. And
I think we all see the direction to Puck is
heading here, where your digital identity, you're banking, you're on chain.
All these things will be all wallet based and maybe
in one app. So we'll see who is able to

(07:57):
build that respective app and how they're able to roll
it out to the masses. So let me give it
to details. Speaking during a recent interview with Fox Business,
Brian Armstrong, Coinbased CEO, confirmed the company's plans to offer
a full suite of financial services with payments to credit
cards and rewards, all powered by crypto rails. Here's a quote. Yes,

(08:18):
we do want to become a super app and provide
all types of financial services. Armstrong said, we want to
become people's primary financial account, and I think that crypto
has a right to do that. So coinbase is positioned
to be able to do this. They have the brand,
they're public, they are the largest exchange in the United States,
so you can imagine it's going to be easy for

(08:40):
them to push this type of app because they have
a huge customer base. Plus they have the resource to
really market this app, and they already do a lot
of great marketing. Many of you have seen the TV
commercials and they're usually around in sports arenas, like I
watch a lot of basketball games the NBA and I
see coinbas ads plastered in the arena and much more so. Clearly,

(09:02):
right the direction things are heading in is that it's
going to be wallet based on chain, so very very exciting.
Now look at this Bitco files for a US IPO
with ninety billion dollars in assets under custody. This is
going to be another big IPO. Another confirmation item here
that we are in a bull market. No one does
an IPO in a bear market, right when liquidity is

(09:24):
dried up. So we've been seeing a flurry of crypto
companies go public, which is very bullish. It reminds me
of the Dot com boom in the nineties. Will everything
be successful? Obviously not right. The history and the nature
of markets shows us that certain companies will do well
and some will not. Write but that's the nature of

(09:45):
markets and the economy. Now, I'm not saying that for Bitco.
I actually think Bigco is going to be successful. They
are custodian from many of the big institutions in the
crypto industry, and this would be a really big IPO.
You know, just about a week and a half ago
Gemini went public and was bullish. Of course, of course
Circle was a big one, so this would be really big.
So crypto custody firm Bitco has filed for a US

(10:08):
initial public offering, also known as IPO, aiming to capitalize
on the renewed institutional demand for digital asset infrastructure under
the Trump administration. The firm aims to list its Class
A common stock on the New York Stock Exchange under
the ticker symbol BTGO. According to its Form S one
registration with the SEC dated Friday, the Palo Alto based

(10:29):
company reported approximately ninety point three billion dollars in assets
on its platform as of June thirty, twenty twenty five.
Its client based spans over forty six hundred entities and
more than one point one million users across one hundred countries.
So bitco supports over one four hundred digital assets and
serves a mix of crypto native firms, financial institutions, governments,

(10:53):
and high net worth individuals. The firm also touts two
hundred and fifty million dollars in insurance coverage and completion
of SoC one and SOFT two audits. So I know
bitgo very well. It's headed up by Mike Belshie who's
the founder and CEO. And Mike Belshe is a Web
two point zero legend. The man was at Google building
Google Chrome and much more so a big fan of

(11:16):
bit go and I'm really looking forward to seeing this
company go public. I'll try to get Mike back on
the podcast I've had him on many years. But exciting times, folks,
Really great to see these companies going public. Final news
item here is Senate Democrats push bipartisan authorship process for
crypto market structure built. So, of course many of you

(11:37):
know the Clarity Act. The market Structure bill is in
the Senate ready to be marked up, voted on, and
much more. Now it's a whole process, right. If you
guys remember with the Genius Act, there were so many
hurdles and votes. You know, through the process. It's kind
of painstaking, but that's how it's done. That's how the
sausage is made. But this thing gets past, you know,

(11:58):
it's going to be exciting. I actually interviewed Congressman Tom
Member last week. I'll be publishing the interview in the
morning where we talk about the timeline, what's the process,
what does it look like, in addition to other things.
So he's optimistic this can get done this fall. I
don't think it's going to happen in October. Based on
what he's saying, It's most likely going to be probably
late November into early December. I think that's the realistic

(12:21):
thing because Congress government doesn't work, you know, on time.
They're often slow. Plus you have government shut down things
that are going to be coming up. So it's your
typical stuff in DC. So, twelve Senate Democrats released a
statement on Friday pressing their Republican colleagues to agree to
a bipartisan authorship process for the crypto Market Structure legislation

(12:45):
currently making its way through Congress. The Democrats won a
greater role in writing the legislation rather than providing comments
on a GOP written bill Politico Report. I don't have
a problem with this. I think the Democrats need to
play a bigger role in I think that's important right
for our democracy, that you have these people weigh in.
If you recall, did twelve Democrats that are mentioned here,

(13:08):
they did introduce their own version of the bill. So
I think it's important for them to bring their ideas
to the table, even if some of it we don't like,
but at least let them feel like they are participating,
giving ideas and maybe bring some balance. Right. But you know,
obviously if they're putting stuff that doesn't make sense for crypto,
we can't have it. So you know, if Elizabeth Warren is,

(13:30):
you know, influencing this group in any way, you know
it's not going to be good. But I'm optimistic because
we saw the Democrats partner with their colleagues to get
the Genius Act through. In addition, in the House they
were able to get the Market Structure bill. There seventy
one Democrats joined the Republicans. So I'm optimistic going to
get this done. And it is much harder in the Senate. Right,

(13:51):
not too many bills make it through the Senate, but
I think we can get it done. Crypto's I think
a high priority for these folks. I think many of
them would become educated, especially a lot of Democrats. And
Elizabeth Warren is no longer in the same power capacity,
if you want to call it that. You know, no
more Gary Ginser and no more Charad Brown. So I

(14:12):
think the Democrats who were wanting to support Crypto were
holding off because of Elizabeth Warren. You know the amount
of power she had on the Diviner administration. But now,
of course Elizabeth Warren and Gary Ginzer are being defeated,
and we saw how the election results played out. So
I don't think these Democrats want to play any games
here going against Crypto. That's the wrong side of history

(14:34):
to be on. So I'm optimistic they can get this done.
But I think any hope of it getting done in
October is out the window, according to what Congressman Tom
Members said. But anyway, you guys can check out on
an interview in the morning. But guys, I think this
is going to be a huge narrative in addition to
liquidity and the Q four. You know, kind of seasonality

(14:55):
that we see with market. So I think things are
leading up here to fedes cut rates. A lot of
important factors that will be good for a rally are
happening here. And I think once this goes into law
assigned by President Trump, it's going to be so bullish
for this market, not just for the immediate or even
twenty twenty six, but I'm talking the next bullmarket because

(15:16):
you can imagine drenking a bear market. A lot of
company are going to build, they have the clarity, and
they're going to set up for the next massive bull market. So, folks,
exciting times. I know the price doesn't reflect that yet,
but it will, right. Don't be emotional, be educated. So folks,
that's the news. Let me know what you think. Leave
your thoughts and comments below hit the thumbs up button.
A great way you can support me is by subscribing

(15:37):
to my free email newsletter. It is one hundred percent free.
I will be putting out a newsletter tomorrow. Check out
my book on Amazon. It's available in paperback, in digital,
and my course at Mycrypto course dot com. Expand your
knowledge about this technology and asset class. Check out this course.
It is packed with tons of value. Folks, thank you
so much for watching and listening. I appreciate you all,

(15:59):
and I'll talk to you later.

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