DON'T PANIC! THIS PULLBACK WILL LEAD TO MAJOR PUMP FOR BITCOIN & ALTCOINS!

Episode Transcript
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Speaker 1 (00:05):
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 hit that subscribe button as
well as the thumbs up button and leave a comment below.
If you're listening on a podcast platform such as Spotify
or Apple, please leave a five star rating and review. Folks,
we of course have to talk about Bitcoin in the

(00:26):
market because Bitcoin pullback to below one hundred and fourteen
thousand dollars. It is currently trading at one hundred and
thirteen thousand, seven hundred and fifteen dollars, so this has
some people a bit worried. But folks, as we've been
monitoring and highlighting Bitcoin and all coins and the total
market cap, we're all in the overbod zone, even the

(00:47):
stock market, the SMP five hundred and the Nasdaq, so
this pullback is natural and healthy. Now there's narratives out there.
People are gonna say tariffs and this and that and whatever,
and maybe it all is time together. But the point
is based on the markets and what we've seen historically.
If you simply look at pattern recognition on the charts,
you will see it. So using the RSI, we have

(01:08):
been escaping that overbod zone, and I like what I'm
seeing Bitcoin right now at a forty on the RSI.
Many of you know, thirty and below is over sold.
So I don't know if we're going to head all
the way down to the oversal. Maybe we go down
and touch it a bit and then we bounce out
of there. But folks, I believe this is a healthy
pullback and it's going to set us up for the

(01:29):
next major rally, which is going to happen this month.
Obviously we're talking about August. Today's August first, so be
prepared for that, folks, and remember the macro thesis. So
once again, the S and P five hundred, the NASDAC
also in the overbod zone, also correcting. We're seeing red
on the charts, very healthy. Total three, which excludes bitcoin,
ethereum and stable coins also was in the overbod zone.

(01:50):
Very overheated actually and now coming down everything following bitcoin,
and as I shared in today's newsletter, there were some
CME gap points that are being filled old one hundred
and fifteen K one hundred and fourteen thousand, three hundred,
So could we go a little bit lower it's possible
if the RSI goes down and touches the oversoul zone,
bitcoint could go to one hundred and ten k, and

(02:13):
there are still key support levels like one hundred and
nine thousand, one hundred and six thousand, which still support
the bullmarket thesis. So again, no invalidation of the bullmarket here,
and I believe this is simply a bullish retest. And
then I think we see a bounce in August going
to new all time highs and global liquidity continues to

(02:33):
be the leading indicator here. Now, over the month of July,
we saw incredible inflows into crypto ETPs. Here, Eric Balichune's
Bloomberg highlighted the US crypto ETFs took in twelve point
eight billion dollars in July, the best month ever. That's incredible,
a six hundred million dollars per day pace, about double

(02:55):
the average as a group. That's more than any single
ETF did, even the mighty Voo. Further, every ETF in
category took in cash, example the converted trusts, with bitcoin
and etheroreum making equal contributions. So this is awesome. It's
incredible the amount of buying that's happening, and smart money

(03:17):
is loading up because they are anticipating higher prices. And
even on chain data, I've often shared this with you
guys on chain data from sentiment showing that whales with
ten or more bitcoin in wallets are continuing to accumulate.
So all the signals are there that further upside is coming,
and we just got to be patient and go through
the volatility. We got to expect volatility. That's part of

(03:40):
the markets, right, So this is the time to be patient,
exercise your patients, and understand the cycles that are playing
out here now. Today, the jobs numbers came in and
they were adjusted and they were actually worse than people anticipated.
And some of the June numbers and so forth were
updated and it showed lower job numbers. So things are
not looking too good. And what we saw with the

(04:02):
CME fed watch tool anticipating ray cuts that may come
in September, they spiked up to eighty one point nine
percent from thirty seven percent. So after Jerome Powell's speech,
he was a bit hawkish, right, and people are like, oh,
it doesn't seem like we're going to get a cut
in September. But with the numbers being as bad as
they are, the probability of them cutting rates in September

(04:24):
has jumped significantly. And I think because Jerome Powell is
always saying hey, based on the data, right. So the
data came in and clearly not good. So I think
we could expect a cut come September, and that would
be in a line where where global liquidity is topping
right now, as I've been telling you guys, to delay
in the tariffs between US and China by three months,

(04:47):
which puts US in October Congress passing the Clarity Act,
the Market Structure bills. So you have these narratives out there,
very big narratives that the mainstream media is going to
run with. Plus the FED looks like they're going to
cut in September. It will bring in a lot of
capital euphoria the FEDS cutting, you know, all these things,
crypto legislations passing, big Quin's hitting new all time highs.

(05:09):
But that's the time we're going to watch the market
to see are we in the top zone to take
profits and exit the market. So again, patients, patients, folks,
I know many of you want higher prices. So do
I I have my portfolio, I have skin in the game.
I have plans, I have financial ambitions and things like that,
so I want to take profits, guys. So I'm waiting

(05:30):
for higher prices just like you. But we got to
be smart investors here, not emotional, right. We don't want
to get emotional about markets. We want to look at
the data, the facts and form our thesis and be patient.
So that is where things stand as of today, folks.
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(06:15):
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in the description. All right, we got some interesting updates
here from a news standpoint. So DeFi Education Fund urges

(06:37):
the Senate to strengthen the crypto development protections in the
draft bill. So, speaking about the CLARITIAC, the Market Structure
Bill and DeFi, of course is very complex, and we've
seen the US government not get things right. They try
to set certain rules, whether it be the IRS and
many other agencies in the government that have put out
recommendations that are not copestic with how DeFi operates. So

(07:01):
we need to make sure that is done right. So
cryptolobbying group DeFi Education Fund has called on the US
Senate Banking Committee to rethink how it plans to regulate
the decentralized finance industry after reviewing its recently published discussion
draft on a key crypto market structure bill. The response,
signed on behalf of the DeFi Education Fund members, including

(07:24):
A sixteen Z, Crypto UNISWAP Labs and Paradigm, said the
Responsible Financial Act of twenty twenty five bills should be
crafted in a more tech neutral manner, that crypto developers
could be protected from inappropriate regulation meant for intermediaries, and
that self custody rights for all Americans are essential. So
this is really great. The industry is reviewing all of

(07:46):
these things, weighing in and giving feedback to Congress. So
very good stuff here. Now the SEC's Crypto Task Force
is going to hit the road and they're going to
have ten roundtables across the United States. So this is amazing.
Can you imagine Garyginster doing this. He's not going to
He wasn't gonna do this, right, So it's really great

(08:07):
that they're doing this. And I plan to attend the
one that's going to be in New York City that's
going to be in September. I email the SEC to
get access to attend this in New York. So US
SEC Commissioner Hester Purse will hit the road this fall,
leading a ten city tour as part of the secu's
new crypto outreach initiative. The regulator announced a roundtable series
on Friday aimed at gathering feedback from industry stakeholders, developers,

(08:30):
and investors as the agency ways feature digital asset rules.
Here is a quote the Crypto Task Force is acutely
aware that any regulatory framework will have far reaching effects,
and we want to ensure that our outreach is as
comprehensive as possible, hester Perce said in this statement. So
the roundtable discussions will take place between August and December.

(08:54):
So folks, you can check out their statement for the
full list of all the locations and the dates. And
like I said, I will be attending the one in
New York City in September. I think it's September twenty fifth.
So if you're in New Jersey or in New York
you want attend, you know, definitely email the SEC to
try to attend. It is really really great. I'll get
you guys all the updates. Of course. Now look at this,
crypto exchange Gate launches spot trading services in the United States.

(09:18):
So we continue to see competition heating up, guys, and
that's really good for us as users and consumers. So
crypto exchange Gate is launching in the US, offering spot
trading services to US customers for the first time. Founded
in twenty thirteen by Chinese scientists Lin Han, the company
cited improved regulatory clarity in the country as a reason

(09:40):
behind the move. According to Gate, it will initially offer
crypto trading pairs for US customers, with upcoming services for
Fiat on and off ramps and support for Custodia wallets.
As of July twenty fourth, the exchange offered over thirty
eight hundred trading pairs on its platform, one of the
largest asset variet in the market, so that's pretty big.

(10:02):
That's a lot of trading pairs, so once again very good.
Competition's very good, and it's going to force some of
the US exchanges to up their game, right to raise
their standard because you know, everybody's trying to grab as
much of the market share as possible. So this is
really great. I think a lot of exchanges that we
were not able to access in the past we'll be
able to come into the United States. And once again,

(10:23):
competition is very good, very healthy for the market. But
you can see everybody's trying to get as much of
the market share as possible to generate as much revenue
and profit. Of course, now final news item, zen Rock
launches zenbtc as the first decentralized yield bearing bitcoin on Salana.
So this is interesting. Some of these things have been

(10:44):
done on the theorem actually so zen Rock, the decentralized
custody network incubated by Dan Tapiro's fifty T Funds formerly
known as ten T Holdings and one Roundtable Partners, enables
secure decentralized wrap asset self custody through its Decentralized Custody
Token DTC standard so zen btc, the first DTC is

(11:07):
the first wrap bitcoin asset on Solona that is both
decentralized and natively yield bearing. The two trillion dollars bitcoin
market remains underserved by traditional custodians that lack yield offerings.
Zen btc solves this by enabling self custody and maintaining
Bitcoin's native security model while unlocking yield opportunities across the

(11:28):
Solana ecosystem. With the rapidly growing accessibility of tokenized equity,
credit and real estate, institutions and retail participants alike are
increasingly seeking to maximize the tradeability and capital efficiency of
larger TAM assets like bitcoin using on chain rails. So
I love the idea. I love this because rather than

(11:50):
just have your assets sit there, you can earn yield
off of it. The important things that you have to
check is that this is a secure platform building on
and it's not acable. They are using the appropriate custody services,
maybe bank level or you know, a large institutional level
like coin based prime. You know black Rock uses like
coin based custody, and much more so. These are the

(12:11):
devils and the details, right that we need to figure out,
because you always want to make sure you do your
research before you go lock up your funds. So I'm
going to look into things like this, but I want
to make sure it's safe, and I will probably put
a little bit of crypto test it out and see
how it works. You know, maybe if even if there's
some sort of insurance or fail safe or something that's
offered in case something goes wrong, you know that that

(12:33):
will be really great. But we'll have to wait and
see and who's backing it, and what's the custody infrastructure
and much more so, Again, make sure you do your
research with all of these things. But this is great
and the folks who are able to get this right
will make a lot of money because again Wall Street
and all the tradifi are going to be holding these
assets and they're gonna want to earn yield folks and
likewise many of you as well. So this is this

(12:56):
is something to definitely look into and I will let
you guys know if I do participate. Folks, that's the news.
Let me know what you think. Leave your thoughts and
comments below hit the thumbs up button. And a great
way you can support me in the podcast is by
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It is one hundred percent free. I put out an
update today, so check it out folks. Once again, it's free.
Check out my book on Amazon, It's available in paperback

(13:17):
and digital, and my course at Mycrypto course dot com.
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of crypto. Knowledge is power expand your knowledge, and this
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(13:40):
hearing from the people who are actually investing in building.
For example, learn about tokenization from Carlos Domingo, co founder
and CEO Securitize. Securitize is the company to help Black
Rock to launch their tokenized fund. Right, so no other
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(14:00):
it's packed with a ton of value, so go to
mycryptocurse dot com to learn more. All of the links
will be in a description. Thank you so much for
watching and listening. I appreciate you all, and I'll talk
to you all later

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