Speaker 1: Hey, folks, Welcome into the Thinking Crypto podcast. You're home
for cryptocurrency news and interviews. I'm your host, Tony Edward.
On your way in. Please hit that subscribe button as
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five star rating. For those of you who are watching
on video, you can tell I am not in my studio.
I'm currently in Las Vegas recording from my hotel room.
I'm attending the Money Show Las Vegas event where I'm
talking about crypto. In fact, today I did a session
talking about tokenization. So I wanted to get you guys
an update on the Claritiac and the market because we're
seeing some positive updates there. Let's get a bitcoin charts, okay, folks.
Right now bitcoin trading over sixty five thousand dollars currently
at sixty five and twenty three dollars, so we're seeing
the continuation of this relief rally. We've been tracking where
we've highlighted that there's a weekly bullish divergence on the chart,
which is very good. On the daily chart, the mac
D shows the bulls are in full control the mac
d's and the green and the RSI has room to
run there it is currently above the neutral zone. However,
this is where I'm getting a little bit concerned because
if this is just a relief rally and it takes
us up to seventy seventy two K, will they reject
it by the two hundred day moving average because we're
still in that downtrend. Or is going to break through
and confirm the bottom of the market now? Today I
put out a newsletter with a lot of different metrics
and factors that are confirming that the bottom is close,
if not already in, such as the bitcoin supply in
loss hitting levels that we've seen at previous bear markets.
So we're really going to have to be patient and
see what happens. Maybe we get some solid news around
the Claritiact that pushes the market higher and it allows
us to break through. But I think the rally is
going to go higher. I think all coins are going
to follow in many of the all coin charts actually
look very bullish. No, nothing is guaranteed, so we have
to be patient and wait for full confirmation. But as mentioned,
the weekly chart has that beautiful bullish divergence which we've
seen at previous bear market bottoms, so let's see if
it has the strength again to break through the respective
moving average. It's playing out accordingly. In fact, the mac
D on the weekly just flipped bullish, so there was
just a bullish cross. So another factor that's on our side,
and the inverse of that the USDT stable coin dominance,
and of course there's a bearish divergence that has been
playing out there, so we're seeing confirmation on multiple fronts.
This is very very good. In fact, Bitcoin with its
current move appears to be playing out a Wyckoff accumulation schematic,
and let's hope that it continues because this Wycoff accumulation
schematic shows us going above ninety K. Now, there will
be pullbacks along the way, but it's looking like potentially
that this rally could take us into September, and obviously
Q four is pretty much always for markets, so let's
see right again, no guarantees here, but we can look
at the data, the charts and the metrics and form
our thesis. And right now we're seeing a lot on
the side of the bottom is closed or has already
been put in I love what analysts blockchain Backer shared
on his x account. It's really good. He did an
in depth breakdown on different metrics that he's looking at,
saying the bottom is in. So first, he says, on
chain data shows that bitcoin in the loss, the supply
and loss has already hit the FTX crash levels up
twenty twenty two and previous bear market levels. And of
course Michael Saylor was forced to sell, so that's kind
of catalyst. While you didn't have a collapse, I mean,
it's not necessary that we must have a collapse, but capitulation, right,
things like Michael Saylor having to sell, it's certainly a
huge huch factor. He says here the technical behavior is
the same as if FTX has already collapsed, after back
testing the capitulation breakdown level from back in February, and
he says the technical indicators are identical to that time
period as shown here with XRP from twenty twenty. So
he's also highlighting like the bullish divergence that I've been
tracking as well. He says, the total market cap for
this respective bear market is the same depths as twenty
twenty two, including the actual FTX crash laps, landing on
the three hundred week moving average, which held it during
all past bears, including FTX and the pandemic COVID nineteen
crash in March twenty twenty. So a lot of factors
are lining up here indicating bottom is in or close.
So even if there's one more flushdown, we're not going
to thirty k for bigcoin. Don't get me wrong, I'm
not saying it's not possible. I'm saying it's not probable,
it's not highly probable. I believe the higher probability is
on the side of this thing has already formed some
sort of bottom. Even if Bitcoin wicks down to fifty
two K or fifty K and then it starts moving out,
because we're not far away from that, right, And it
could be that after the move to seventy to seventy two,
there is that rejection, it goes down to fifty then
bounces and that's the true bottom, or again the bottom
is in and we are starting the reversal, turning a
corner into an uptrend. The other factor is long term holders.
Bitcoin holders have capitulated and selling is now easing, so
this is more signs of the bottom process forming here,
so multiple data points and factors, not emotions. We all
want the price to go up, but we got the
data right, folks. So this is very very good. And
something that's really good for this rally is Jim Kramer.
He's turning bearer, so he says the market is looking miserable,
so he's seeing a lot of negative things. We know
what this means inverse, so expect the rally to continue
and we'll see how things play out over the next
week or so. Now, folks, quick word from our sponsor.
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Speaker 1: All right, folks, we have a big update around the Claritiac.
So Eleanor Charity is reporting that she's hearing from multiple
industry sources that the White House has agreed to an
ethics package for the Claritiac and sent the language to
certain Senate Republicans this afternoon. It's still unclear what the
details of the agreement are, she says, each staff for comment,
but the industry participants are hopeful this could clear the
way for the updated bill text to be released soon.
Now we know that Democrats are calling out Trump's crypto
exposure and everything he has going on, right, so we've
talked a lot about that, and there needs to be
a larger ethics conversation because guess what elected officials, members
of Congress can trade stocks, oil, gold, and emodities. It's
not a crypto specific issue. Obviously, Trump has a mean
coin in all these different things, which I wish he
did not have. But this is what the situation is.
And hopefully it's an ethics package that the Democrats agree
to and he gets this bill done. Another good news
here is Patrick quit, who was set to depart from
his role to go back to services on the military side,
says he's delaying that so he's going to stay on
board to get this done. So he says, for the
past year, I've worked diligently to get the claritiac passed,
fulfilling President Trump's vision to make the US the crypto
capital of the world. Last week it was reported that
I was set to leave for mandatory training as part
of my st in the Georgia Army National Guard, right
before Clarity hits the Senate floor. While I remain committed
to fulfilling my service obligation, I am grateful to report
that my training has been deferred and that I will
be able to see the effort through the end. Thanks
to the President of the United States and David Saxsbury
the opportunity to continue this important work, and to everyone
who reached out last week, let's finish the job. So
this is great. He's going to stay on to help
get this through the finish line. And let's hope again, folks,
we are able to get this done because certainly the
ethics piece is a big headwind, and in addition to
the banks, with the stable corn yield situation, now something
that's really good. Senator Mark Warner, who's a Democrat and
a very strong Democrat, but I really appreciate him, you know,
being open minded. Last week at a hearing on July sixteenth, specifically,
he said, I want this done. I'm tired of being
in crypto hell. I want America to lead in digital assets,
big statement coming from a Democrat, and we need more
of this because we know Elizabeth Warren her MO she's
not going to change her stance because she's getting those
big fat checks on the banks. Right. This goes back
to the Gary ginser days and much more. She's all
out against crypto and we know why. But you need
more Democrat voices like this coming on saying, look, let's
get this done. Man. America needs to lead, not Republicans,
not Democrats, America because this will create jobs, It will
open up tons of opportunities for innovation and capital investment
and much more to get all these things done. And
having said that, guys, the backdrop of what's happening across
the globe, it's incredible like the US is in danger
of losing the leading position on crypto. Here's an example.
Russia's State Duma to consider bill to regulate bigcoin in
crypto tomorrow, the Tass reports. Here's a quote. Tomorrow will
be pass asking the law in its second and third readings.
It's aimed at creating the legal conditions for cryptocurrencies to
function in our country. So you have Russia regulating crypto, right,
it would be a shame if Russia is able to
get this done before the United States. We know the
EU has done it already. The UK from not mistaken,
they got a version progressing in their parliament. And imagine
these other countries get it passed before the United States. Right,
what a shame. So our politicians need to get their
act together. And this bill will help protect consumers, It
will help provide guidance for businesses to know what they
can and cannot do with the technology. And again, innovation
can flourish and create jobs for people, So there's an
economic aspect to this, and this we're in a global competition.
So the Senate needs to get their act together. Many
of you know the deadline is August seventh, because Congress
goes on August recess and it's a midterm election year,
so nothing's going to get done later this year. They
have to do it now, and there's a potential if
they don't get it done, this thing does not past
for years now. One could argue, and I've heard this
argument that the Democrats want to block it so that
they can pass it when they take control of the House,
and I'm sure they plan to take a lot out
of the bill, and it won't be as friendly to
defy and much more. But if you can get it
done now, just like we got it done in the
House last year, we passed the FIT twenty one, which
is a version of the Claritiac in the House at
a Democrat support, Let's hope we can get it through
the Senate. And I love again what Mark Warner, Senator
Mark Warner had to say top Democrat there. So fingers crossed, folks,
and this bill making progress and passing the Senate could
be really good for bitcoin and the crypto market for
turning the corner and maybe given the confirmation that the
bear market's over again, not guaranteed, we're talking probabilities here.
I don't have a crystal ball. I can look at
the charts, I can look at the reports around the
Claritiac and just continue to monitor it closely. So I'm
in the same boat with all of you. I've told
you guys, though I am personally accumulating. I'm grabbing up
some all coins around this area. Having the long term view.
Of course, I'm gonna swing trade some of it, you know,
buy the dipsl the rep right. So for example, xrpis
I think is a good buyer. Right here, it's starting.
I don't have the trend line drawn in my chart,
but it's starting to break out a bit, right it
could it go up to a dollar fifty or so,
and then you know you put some money in here
at a dollar eleven cents or ten cents and then
sell a dollar fifty or dollar forty nine. You know
you can make some money that way. Again, do your
own research. You've got to understand the markets, cyclicalities and
all that from the micro about the macro. So hopefully guys,
Congress can get this done. Moving ahead, tokenization has become
a strategic priority for eighty four percent of financial firms.
A Broade survey found Wall Street is accelerating tokenization efforts
while betting on hybrid markets where digital and traditional assets coexist.
So we've talked a lot about the token economy. Today,
I gave a presentation on the token economy and tokenization
at the Money Show Las Vegas. And we're seeing all
the major institutions around the globe are embracing this. So
the survey two hundred North American and financial services executives
suggest that the financial industries moving beyond experimenting with blockchain
technology and beginning to prepare for a future which tokenized
assets become part of everyday market infrastructure. So, guys, we've
talked about it at nauseum. They're going to put stocks, bonds,
real estates, everything on chain and you're going to have
twenty four to seven markets, truly global and liquid markets.
So that is where things are headed. And here's an
example of that. Today we got news that the London
Stock Exchange is going to launch round the clock trading
to compete with twenty four to seven crypto platforms. This
is from the Financial Times and again across the globe,
stock exchange, banks, major investment firms, they're all on the
same page. I reported to you guys just last week
that the US and UK formed a partnership to align
on tokenized assets and how they will all function cross
border and much more in other countries are going to
participate here, folks, So stay tuned. Big things happening. So
let's see what the market does this week, Let's see
how the Clarity Act progresses in the Senate, and hopefully
we get some good news by the end of the week. Folks.
I'll continue to give you guys the updates be sure
to subscribe to my free email newsletter. It is one
and free link will be in a description. As mentioned,
I put a write up out today. Check it out.
Includes a lot of the charts and things that I
reference in this podcast. Grab a copy of my book
on Amazon. It's available in paperback and digital, and check
out my course at mycryptocurse dot com. Folks, thank you
so much for tuning in. I appreciate you all, and
I'll talk to you all later