WEBVTT 1 00:00:00.200 --> 00:00:02.919 And everyone was saying, oh, this is dip by time, 2 00:00:03.040 --> 00:00:04.200 definitely dip by time. 3 00:00:04.559 --> 00:00:05.879 Turned out they were dead wrong, and. 4 00:00:05.960 --> 00:00:08.439 We went all the way down, almost went below sixty 5 00:00:08.519 --> 00:00:12.599 k on that bloody day of February fifth. And yes, 6 00:00:12.720 --> 00:00:16.559 we rebounded slightly since then, tested like the sixty two 7 00:00:16.600 --> 00:00:20.320 to sixty three k range here before this big breakout, 8 00:00:20.399 --> 00:00:22.920 and yeah we're seeing some positivity. 9 00:00:23.000 --> 00:00:31.440 But hey, everyone, welcome into the Thinking Crypto Podcast. I'm 10 00:00:31.480 --> 00:00:33.799 your host, Tony Edward and joining me today is Brian 11 00:00:33.840 --> 00:00:35.679 from Sentiment and as you all know, we're going to 12 00:00:35.759 --> 00:00:38.399 do a deep dive into the metrics around Bitcoin and 13 00:00:38.439 --> 00:00:40.240 the top all coins to get an idea of what's 14 00:00:40.240 --> 00:00:42.679 happening in the market. Brian, it's great to see you. 15 00:00:42.799 --> 00:00:45.479 And your shirt should be green, my friend, because it's 16 00:00:45.520 --> 00:00:46.159 a green day. 17 00:00:46.799 --> 00:00:48.920 I know, you know, you wake up and you expect 18 00:00:49.000 --> 00:00:51.240 it to be just like it's been the last few months, 19 00:00:51.640 --> 00:00:53.200 and all of a sudden you get the color wrong 20 00:00:53.240 --> 00:00:53.640 for once. 21 00:00:54.759 --> 00:00:55.799 It's a happy mistake. 22 00:00:55.840 --> 00:00:58.479 I think we're all pretty excited to see a little 23 00:00:58.520 --> 00:01:02.280 bit of a breakout here, and you know, it's a 24 00:01:02.359 --> 00:01:05.519 relief in a literal sense, but also this relief rally 25 00:01:05.560 --> 00:01:07.719 comes when I think a lot of the crowd has 26 00:01:07.799 --> 00:01:12.239 kind of been writing off crypto for a bit as usual. 27 00:01:12.359 --> 00:01:16.400 It's a bit of a bear trap that's turned into 28 00:01:16.439 --> 00:01:18.879 a mild bull run. I wouldn't say bull run. I 29 00:01:18.879 --> 00:01:22.040 guess i'd say more of just a bullish trend for 30 00:01:22.079 --> 00:01:24.079 a day and a half or so that people are 31 00:01:24.120 --> 00:01:27.719 now pouring their money back into now that they're saying 32 00:01:27.760 --> 00:01:28.760 things move up for once. 33 00:01:29.400 --> 00:01:31.640 Yeah, and this is something I've been talking about for 34 00:01:31.640 --> 00:01:34.079 a while, that we are due for relief rally because 35 00:01:34.079 --> 00:01:37.120 we've been so oversold. The sentiment it has been extreme fear. 36 00:01:37.400 --> 00:01:39.680 People have given up on crypto. You know, some of 37 00:01:39.719 --> 00:01:42.959 the mainstream media. We're putting headlines out there, bigcoin still 38 00:01:43.040 --> 00:01:44.519 too high at sixty seventhing. 39 00:01:44.680 --> 00:01:47.799 That just the writing off crypto again. 40 00:01:48.280 --> 00:01:50.920 And we have often been talking the market does the 41 00:01:50.959 --> 00:01:52.680 opposite of the herd to a lot of people out 42 00:01:52.680 --> 00:01:53.400 there given up. 43 00:01:53.680 --> 00:01:54.719 They've turned negative. 44 00:01:55.359 --> 00:01:59.760 They started complaining about President trumpet crypto and you just 45 00:01:59.799 --> 00:02:01.519 see on the social media timeline. 46 00:02:01.560 --> 00:02:04.519 So it's it's funny how this all works. 47 00:02:05.159 --> 00:02:08.240 Yeah, whether it's coincidental or not, you know, it's up 48 00:02:08.240 --> 00:02:11.199 for debate. One thing we can say about the state 49 00:02:11.240 --> 00:02:16.159 of the Union from yesterday is he seemed to invoke 50 00:02:16.199 --> 00:02:19.719 a lot of confidence in the American economy, and we're 51 00:02:19.759 --> 00:02:21.240 seeing stock markets go up. 52 00:02:21.479 --> 00:02:22.960 I'll show the comparison of. 53 00:02:22.879 --> 00:02:27.080 The equities and cryptocurrencies in just moment. But everything is 54 00:02:27.120 --> 00:02:30.520 going up today at the time of this recording. It 55 00:02:30.560 --> 00:02:32.520 was even going up going into the State of the 56 00:02:32.599 --> 00:02:36.199 Union yesterday in terms of the stock markets, while crypto. 57 00:02:35.919 --> 00:02:37.520 Is kind of just staying flat. 58 00:02:37.919 --> 00:02:40.800 And we even put a report out about how you know, 59 00:02:40.879 --> 00:02:44.159 the further this correlation gets away, the more of an 60 00:02:44.240 --> 00:02:47.960 upside argument there is for crypto to catch up. And 61 00:02:48.039 --> 00:02:51.479 sure enough, you know, even though equities are doing well, 62 00:02:51.800 --> 00:02:53.919 stocks are up or the S and p's up maybe 63 00:02:53.919 --> 00:02:57.639 a little over one percent right now, bitcoins up like 64 00:02:57.759 --> 00:03:01.479 six percent, some old coin like Polka Dot up almost 65 00:03:01.520 --> 00:03:06.000 twenty five percent right now. So it does look like 66 00:03:06.039 --> 00:03:10.039 this is a crypto favorable run. It's not just a 67 00:03:10.120 --> 00:03:12.599 correlated run with stocks. This is the first time we've 68 00:03:12.599 --> 00:03:17.400 really seen crypto go up significantly above stocks, at least 69 00:03:17.439 --> 00:03:18.599 in twenty twenty six here. 70 00:03:19.599 --> 00:03:21.800 Yeah, and that makes sense because if you look at 71 00:03:21.919 --> 00:03:23.719 the price of gold, you look at the chart and 72 00:03:23.840 --> 00:03:26.360 the S and P five hundred and even the Nasdaq 73 00:03:26.400 --> 00:03:32.120 for that matter. You've seen bitcoin dev eight completely. It's 74 00:03:32.199 --> 00:03:35.080 so wild. So maybe here's the bit of the catchup, Right, 75 00:03:35.280 --> 00:03:39.840 we're so into dumps, so over sold that we're maybe 76 00:03:39.879 --> 00:03:42.439 going to have more upside than those on the markets potentially. 77 00:03:43.319 --> 00:03:43.560 Yeah. 78 00:03:43.639 --> 00:03:46.599 I mean, if you just stew the last four weeks 79 00:03:46.719 --> 00:03:49.840 or so, you can see how, you know, stocks and 80 00:03:49.919 --> 00:03:54.520 teel here have kind of been flat, Gold's down just slightly, 81 00:03:54.599 --> 00:03:58.759 and then Bitcoin's just gotten hammered over the past four weeks, 82 00:03:58.800 --> 00:04:01.639 down almost lose almost a quarter of its market cap, 83 00:04:02.759 --> 00:04:06.960 But just over the past what call it a little 84 00:04:06.960 --> 00:04:10.199 over twenty four hours, it's up nine percent now, and 85 00:04:10.240 --> 00:04:13.599 that's enough to get people excited. Especially if we begin 86 00:04:13.719 --> 00:04:17.759 to test seventy K I would expect some cell walls 87 00:04:17.879 --> 00:04:20.600 around there to try to challenge it. But if it 88 00:04:20.639 --> 00:04:24.439 breaks through and we start seeing seventy one to seventy 89 00:04:24.480 --> 00:04:27.399 three k that range, expect a lot. 90 00:04:27.279 --> 00:04:30.000 Of foamo to really start to pour in. Absolutely. 91 00:04:30.360 --> 00:04:32.199 So how's the sense, Well, yeah, we can look at 92 00:04:32.199 --> 00:04:33.800 the price and then I would love to see what 93 00:04:33.879 --> 00:04:35.319 the sentiment is for bitcoin. 94 00:04:35.720 --> 00:04:39.040 Yeah, definitely, just briefly looking at the price changes, you 95 00:04:39.079 --> 00:04:42.079 can see pretty clearly I mentioned Polka Dot currently up 96 00:04:42.120 --> 00:04:44.560 about twenty three percent in the past twenty four hours, 97 00:04:45.040 --> 00:04:48.920 un to swap nineteen, Avalanche seventeen and a half, light 98 00:04:49.040 --> 00:04:52.519 Coin fourteen, chain Link fifteen, and then you got Bitcoin 99 00:04:52.600 --> 00:04:54.839 over here. Just in terms of twenty four hours up 100 00:04:54.879 --> 00:04:56.560 six and a half percent, it three him up ten 101 00:04:56.600 --> 00:05:00.920 and a half percent, and interestingly, so volume has not 102 00:05:01.120 --> 00:05:04.759 caught up. We actually saw way more discussion, especially among 103 00:05:04.800 --> 00:05:08.800 bitcoin and ethereum yesterday compared to today, so we'll see 104 00:05:08.800 --> 00:05:11.639 if that changes in the coming hours. I think the 105 00:05:11.800 --> 00:05:15.879 US is more or less woken up now and they're 106 00:05:15.959 --> 00:05:19.279 checking markets, so I wouldn't be surprised by the end 107 00:05:19.319 --> 00:05:19.879 of the day we. 108 00:05:19.879 --> 00:05:22.000 See some nice social volume boosts just. 109 00:05:22.040 --> 00:05:25.879 From you know, mainstream media starting to pick up stories 110 00:05:25.959 --> 00:05:28.639 talking about all of these big relief rallies that are 111 00:05:28.639 --> 00:05:29.319 currently going on. 112 00:05:30.800 --> 00:05:33.519 I wonder if there's also the factor of people don't 113 00:05:33.560 --> 00:05:35.639 believe it right, They're like, I don't trust this. 114 00:05:35.720 --> 00:05:39.600 We've been getting dumped on every time we lomp. Yeah. 115 00:05:39.600 --> 00:05:42.560 I mean just like there was when we first went 116 00:05:42.600 --> 00:05:45.519 below seventy k no one believed that it could actually 117 00:05:45.600 --> 00:05:48.560 go any lower, and then sure enough it does go lower. 118 00:05:48.600 --> 00:05:50.839 And now we get a relief rally and a bunch 119 00:05:50.839 --> 00:05:53.639 of people just want to take profit rather than. 120 00:05:55.240 --> 00:05:57.600 Start to fomo in and really start. 121 00:05:57.399 --> 00:06:00.360 To believe this is the beginning of the large your 122 00:06:01.199 --> 00:06:04.800 macro rebound. But yeah, let's take a look at sentiment here, 123 00:06:04.839 --> 00:06:09.399 because I saw going to bed last night that there 124 00:06:09.439 --> 00:06:13.720 was actually a huge jump in sentiment, which made me 125 00:06:13.839 --> 00:06:17.879 surprised when I woke up to an even further rally 126 00:06:17.959 --> 00:06:22.079 pushing towards seventy K. But when I looked going to 127 00:06:22.120 --> 00:06:24.519 bed last night, it was almost as high as what 128 00:06:24.560 --> 00:06:27.120 we saw in late January when everyone was kind of 129 00:06:27.160 --> 00:06:30.720 in denial. Like I mentioned, it was falling below ninety 130 00:06:30.800 --> 00:06:34.399 back at that time, fell below eighty five K, and 131 00:06:34.480 --> 00:06:37.560 everyone was saying, oh, this is dip by time, definitely 132 00:06:37.560 --> 00:06:38.240 dip by time. 133 00:06:38.600 --> 00:06:39.720 Turned out they were dead. 134 00:06:39.519 --> 00:06:41.759 Wrong, and we went all the way down, almost went 135 00:06:41.759 --> 00:06:45.240 below sixty K on that bloody day of February fifth. 136 00:06:45.800 --> 00:06:50.040 And yes, we rebounded slightly since then, tested like the 137 00:06:50.079 --> 00:06:53.560 sixty two to sixty three K range here before this 138 00:06:53.600 --> 00:06:57.759 big breakout, And yeah, we're seeing some positivity, but it's 139 00:06:58.360 --> 00:07:00.439 not to the degree that I would. 140 00:07:00.279 --> 00:07:02.439 Think, like I said, the day is still young. 141 00:07:02.519 --> 00:07:05.600 But this is enough FOMO to be a little concerned 142 00:07:05.600 --> 00:07:07.600 that the rally might have a little cap to it, 143 00:07:08.040 --> 00:07:11.079 but it may, you know, may not really cap until 144 00:07:11.120 --> 00:07:14.439 we see that seventy k test to see some limit 145 00:07:14.560 --> 00:07:15.360 orders get filled. 146 00:07:15.720 --> 00:07:19.720 Interesting, how does the MVRV look like for bitcoin? So 147 00:07:19.759 --> 00:07:22.519 I'm just going to open up our main template here. 148 00:07:22.560 --> 00:07:24.519 This is where you guys can see all of our 149 00:07:24.959 --> 00:07:28.000 top on chain metrics. So super useful going through some 150 00:07:28.040 --> 00:07:28.399 of these. 151 00:07:28.439 --> 00:07:32.839 But as we always do, Tony looking at MVRV on 152 00:07:32.920 --> 00:07:36.839 our call here, we're still seeing both the short and 153 00:07:36.959 --> 00:07:41.680 long term average trading returns in the negatives. It said 154 00:07:42.720 --> 00:07:46.240 pretty day mvrvs back up to about negative two and 155 00:07:46.240 --> 00:07:46.800 a half percent. 156 00:07:46.879 --> 00:07:49.079 Hasn't been that high since the end of January. 157 00:07:50.079 --> 00:07:52.199 I still like the fact that both lines are below 158 00:07:52.360 --> 00:07:55.319 zero in what's supposed to be a zero sum game 159 00:07:55.439 --> 00:07:59.879 for all different timeframes. So thirty day is still under 160 00:08:00.439 --> 00:08:04.560 barely three sixty five day is well well underwater at 161 00:08:04.600 --> 00:08:07.680 negative twenty nine percent. Still, so the upside is there 162 00:08:07.800 --> 00:08:11.519 for this this rally to continue. It just depends on 163 00:08:11.680 --> 00:08:14.120 things like whales and stuff, which we'll get into. 164 00:08:14.759 --> 00:08:17.120 Yeah, that's a very good sign that it's still down 165 00:08:17.160 --> 00:08:22.199 below they're not even touching neutral yet potentially some room 166 00:08:22.240 --> 00:08:24.480 for it to run here and maybe that's, you know, 167 00:08:24.759 --> 00:08:27.600 the relief rally. I know some traders are like I 168 00:08:27.680 --> 00:08:30.639 just had Garrett salwy On. He's saying, if we break 169 00:08:30.680 --> 00:08:33.759 certain levels, we could top out at eighty to eighty 170 00:08:33.799 --> 00:08:37.720 five K. And obviously that's a probability, it's not a certainty, 171 00:08:37.840 --> 00:08:40.080 but maybe that that would be that would be pretty 172 00:08:40.159 --> 00:08:41.200 nice to have that relief. 173 00:08:41.440 --> 00:08:42.840 Yeah, I could see it. 174 00:08:42.919 --> 00:08:46.000 And you know, the nice thing about MVRV is it's 175 00:08:46.000 --> 00:08:49.519 not always fluctuating the same way as prices because people 176 00:08:49.559 --> 00:08:54.360 are making flawed trading decisions all the time. They're fomoing 177 00:08:54.399 --> 00:08:56.639 in when they shouldn't, they're fighting in when they shouldn't. 178 00:08:56.840 --> 00:08:58.879 In fact, more often than not, they're doing what they 179 00:08:58.919 --> 00:09:03.759 shouldn't do. And that's I think the reason why despite 180 00:09:03.799 --> 00:09:06.480 this nine percent jump in a little over twenty four hours, 181 00:09:07.039 --> 00:09:10.240 we haven't seen this thirty day, why go back above 182 00:09:10.320 --> 00:09:13.159 zero percent? Because there weren't that many people buying the 183 00:09:13.200 --> 00:09:15.600 dip here. This was the point in which a lot 184 00:09:15.639 --> 00:09:18.519 of people were really starting to give up. If there 185 00:09:18.600 --> 00:09:21.399 was aggressive dip buying, who knows if we even have 186 00:09:21.600 --> 00:09:25.600 this little rally. But if we did see the rally anyways, 187 00:09:25.840 --> 00:09:27.639 it would have been enough for the thirty day MVRV 188 00:09:27.720 --> 00:09:29.600 to be way up here, and then we'd be a 189 00:09:29.600 --> 00:09:33.039 little more in risky range. But because of the disbelief, 190 00:09:33.600 --> 00:09:35.159 we still have more meat on the bone. 191 00:09:35.799 --> 00:09:39.639 Yeah, and it's, you know, the setup we've talked about 192 00:09:39.679 --> 00:09:43.159 so many times, ran ad nauseum, right, extreme fear, the 193 00:09:43.200 --> 00:09:46.279 crowd has given up and the market does the opposite. 194 00:09:46.440 --> 00:09:48.600 I know I repeat myself there, but I want to 195 00:09:48.639 --> 00:09:51.039 hammer it home so people understand that they have to 196 00:09:51.039 --> 00:09:53.759 be a contrarian to the herd. And then you know, 197 00:09:53.759 --> 00:09:57.679 maybe we can look at the whale data that's very telling. Yeah, 198 00:09:57.720 --> 00:10:01.720 so this is the part that I'm less about. There 199 00:10:01.759 --> 00:10:07.000 has not been any indication that Wales are starting to 200 00:10:07.039 --> 00:10:09.919 pile money back in. Like I said, we do this, 201 00:10:10.240 --> 00:10:12.919 We update this metric once a day, so there could 202 00:10:13.000 --> 00:10:17.200 be some signs once the market closes today that this 203 00:10:17.320 --> 00:10:19.799 green line has started to pick up steam. Maybe they've 204 00:10:19.879 --> 00:10:22.679 added I don't know, maybe something like three to five 205 00:10:22.759 --> 00:10:25.679 k bitcoin would be reasonable for a given day, but 206 00:10:26.960 --> 00:10:31.720 going into today, as of yesterday's close, they've been on 207 00:10:31.759 --> 00:10:34.000 the decline for quite a while here going back to 208 00:10:34.080 --> 00:10:38.840 January fifteenth, they've dropped a little over half a percent 209 00:10:38.879 --> 00:10:42.600 of the entire supply, which is a ton. We can 210 00:10:42.679 --> 00:10:45.240 look at it in absolutes, just so we have a 211 00:10:45.279 --> 00:10:49.600 precise number. Ten to ten thousand btc. This is the 212 00:10:49.679 --> 00:10:52.200 key group that owns a little over two thirds of 213 00:10:52.240 --> 00:10:58.039 the entire market cap, and they were holding thirteen point 214 00:10:58.039 --> 00:11:01.919 sixty eight million back in mid January and they've dumped 215 00:11:01.960 --> 00:11:07.320 a little over one hundred one thousand btc since. So no, 216 00:11:07.440 --> 00:11:10.679 they have not been like falling off a cliff in 217 00:11:10.799 --> 00:11:14.639 recent weeks, but it's still showing that they're moving in 218 00:11:14.679 --> 00:11:19.080 the wrong direction while retail has kind of flattened out. 219 00:11:19.120 --> 00:11:22.080 Like I said, they weren't too excited about this latest 220 00:11:22.080 --> 00:11:24.080 dip yere so they weren't buying it too much. But 221 00:11:24.559 --> 00:11:29.240 the long term trend still shows retail going up, key 222 00:11:29.279 --> 00:11:32.440 stakeholders going down, and that has to change in order 223 00:11:32.480 --> 00:11:37.519 for this rally to have a more sustained longevity to it. Oh, 224 00:11:37.559 --> 00:11:42.519 absolutely so hopefully Brian Fringer's cross. I'm gonna keep refreshing 225 00:11:42.519 --> 00:11:45.200 this data every day, and folks, you could go sign 226 00:11:45.240 --> 00:11:47.720 up for an account to you know, start viewing these things. 227 00:11:48.519 --> 00:11:52.759 But I'm hoping that number, the whale number starts taking. 228 00:11:52.559 --> 00:11:54.000 Upwards us too. 229 00:11:54.080 --> 00:11:55.799 Yeah, I mean, this is really one of the best 230 00:11:55.799 --> 00:12:00.600 metrics we have for just midterm alpha. If you're a 231 00:12:00.600 --> 00:12:03.039 swing trader, I mean, this one is going to be 232 00:12:03.120 --> 00:12:04.360 right up your alley, we promise. 233 00:12:05.919 --> 00:12:10.639 How about ethereum as far as sentiment and MVRV. 234 00:12:10.759 --> 00:12:12.919 Yeah, we'll start with ethereum because we already have it 235 00:12:12.919 --> 00:12:16.080 open here. This actually is a nice way of just 236 00:12:16.120 --> 00:12:19.879 looking at all of the thirty days thirty day mvrvs 237 00:12:19.960 --> 00:12:20.879 right next to each other. 238 00:12:21.519 --> 00:12:22.799 Just switch this to BTC. 239 00:12:23.559 --> 00:12:26.840 So we've got bitcoin in pink, We've got etherium in 240 00:12:26.919 --> 00:12:31.000 red Ardano, which you can see has blasted into positive range. 241 00:12:31.600 --> 00:12:34.799 He is about middle of the road right now, and 242 00:12:34.879 --> 00:12:37.679 chain link has also blasted into positive. But in terms 243 00:12:37.720 --> 00:12:41.639 of Ethereum, it's down about negative six percent still. It's actually, 244 00:12:42.200 --> 00:12:45.399 of these five assets, the one that has the most 245 00:12:45.440 --> 00:12:50.159 opportunity still because it's been so hammered over the past 246 00:12:50.200 --> 00:12:53.679 month or so, I mean, going back to January twenty 247 00:12:53.679 --> 00:12:56.320 eighth when it was at that local top, it's dropped 248 00:12:56.360 --> 00:12:59.279 about twenty four percent. So it's not a surprise to 249 00:12:59.279 --> 00:13:04.720 see ethereum still showing an average trading return of negative 250 00:13:04.759 --> 00:13:07.080 six percent over the past thirty days. 251 00:13:07.120 --> 00:13:09.399 Interesting to it certainly has some catch up to do, 252 00:13:09.480 --> 00:13:13.080 and you know, we'll see how this hardest relief rally goes. 253 00:13:13.120 --> 00:13:16.200 So some of these other leading all coins start out 254 00:13:16.240 --> 00:13:19.000 performing it, maybe eth will eventually catch up, but we'll 255 00:13:19.039 --> 00:13:19.879 have to wait and see. 256 00:13:20.440 --> 00:13:23.279 Yeah, I think there's definitely an argument for that, and 257 00:13:23.360 --> 00:13:27.720 there are some key players that are going to dictate 258 00:13:27.799 --> 00:13:30.200 whether Ethereum can go on another run the way it 259 00:13:30.240 --> 00:13:34.120 did last summer. And remember I remember doing a show 260 00:13:34.159 --> 00:13:37.120 with you around that time, Tony, where we talked about 261 00:13:37.159 --> 00:13:42.240 how much fud there really was toward Ethereum and how 262 00:13:42.360 --> 00:13:45.440 it's going to likely surprise people when it has a 263 00:13:45.440 --> 00:13:49.399 little bit of a breakout. Literally like within three days 264 00:13:49.480 --> 00:13:52.159 or so after our video, it went on this enormous run, 265 00:13:52.399 --> 00:13:56.519 doubled in market cap or something, and eventually we all 266 00:13:56.600 --> 00:13:59.919 kind of hit that all time high, or all the 267 00:14:00.399 --> 00:14:03.639 top caps kind of hit that same local top when 268 00:14:03.679 --> 00:14:07.679 Bitcoin hit their all time high in early October. But 269 00:14:07.759 --> 00:14:11.399 Ethereum had a great run in the middle of last 270 00:14:11.440 --> 00:14:16.240 year and then started to regress right around late January 271 00:14:16.279 --> 00:14:19.320 and has been one of the harder hit alt coins. 272 00:14:19.679 --> 00:14:23.600 So all that being said, I see that sentiment is 273 00:14:23.720 --> 00:14:27.480 kind of in mid range, maybe just slightly above that 274 00:14:27.679 --> 00:14:31.360 median line, which is probably right around here. So yes, 275 00:14:31.559 --> 00:14:34.440 it's getting a little bit of fomo, not quite as 276 00:14:34.519 --> 00:14:37.759 much as bitcoin, but either way, it's just over the 277 00:14:37.840 --> 00:14:41.039 last twenty four ish hours or so, it's up almost 278 00:14:41.039 --> 00:14:42.840 fifteen percent, which is great to see. 279 00:14:43.320 --> 00:14:47.960 So, Brian, let's look at XRP sentiment and MBRB. 280 00:14:48.399 --> 00:14:54.480 So xrp's positive to negative sentiment ratio is actually saying 281 00:14:54.759 --> 00:14:59.639 just barely. It looks like it's highest positive day since 282 00:14:59.759 --> 00:15:03.399 late January. So yeah, there's definitely some fomo going on here. 283 00:15:03.919 --> 00:15:08.039 XRPS approaching that coveted one fifty support line once again, 284 00:15:08.120 --> 00:15:10.879 So we'll see how people react if there's just a 285 00:15:10.919 --> 00:15:14.399 little bit more of a climb in the next you know, 286 00:15:14.480 --> 00:15:17.000 eight to twenty four hours or so. But right now 287 00:15:17.039 --> 00:15:19.279 people do appear to be getting a little hyped toward 288 00:15:19.440 --> 00:15:23.480 XRP once again. In terms of MVRV, so the thirty 289 00:15:23.559 --> 00:15:26.279 day just went back above the zero percent line. It's 290 00:15:26.320 --> 00:15:29.200 pretty much right on it now. But in terms of 291 00:15:29.559 --> 00:15:32.720 this essentially means that if you were to buy in now, 292 00:15:32.799 --> 00:15:35.759 or add onto your position, you'd no longer be doing 293 00:15:35.799 --> 00:15:38.960 it while there's a tremendous amount of pain among other 294 00:15:39.159 --> 00:15:44.679 XRP traders. Those XRP traders that our euro essential competitors 295 00:15:45.120 --> 00:15:48.879 have caught up and are back at that C level 296 00:15:48.879 --> 00:15:52.679 line basically the three sixty five day line, though however, 297 00:15:52.759 --> 00:15:57.600 still shows way way high pain points on average with 298 00:15:57.679 --> 00:16:01.080 a negative thirty five and a half percent average return. 299 00:16:02.000 --> 00:16:04.840 If you're in it for the long run, XRP looks 300 00:16:04.879 --> 00:16:06.639 like a nice bet for the rest of the year, 301 00:16:06.679 --> 00:16:11.399 assuming crypto can start to gain momentum itself. If you're 302 00:16:11.440 --> 00:16:13.639 in it for the short term swing trades, it's going 303 00:16:13.720 --> 00:16:18.480 to be very unpredictable at the moment. According to MVRVW. Wow, Yeah, 304 00:16:18.519 --> 00:16:19.679 that's very very telling. 305 00:16:19.840 --> 00:16:23.000 So I'm just giving the chart that you shared before, 306 00:16:23.039 --> 00:16:25.480 would eat you know, that might be a better bet 307 00:16:25.639 --> 00:16:27.360 because it's still below the neutral. 308 00:16:28.519 --> 00:16:33.240 Yeah, if it all depends on your timeframe for investment strategy, 309 00:16:33.279 --> 00:16:38.320 if you're trying to decrease your risk as much as possible, 310 00:16:38.879 --> 00:16:42.120 Ethereum is the lowest of those top gaps at the 311 00:16:42.120 --> 00:16:45.759 moment in terms of average trading returns, so you'd be 312 00:16:45.799 --> 00:16:49.000 buying in while others are still well underwater for Ethereum, 313 00:16:49.399 --> 00:16:53.480 whereas for XRP for the short term, they're already back 314 00:16:53.519 --> 00:16:54.639 to square one. 315 00:16:55.320 --> 00:17:00.360 Yeah, that makes sense. How about Salona? A sentiment has 316 00:17:00.360 --> 00:17:04.960 been somewhat quiet, or at least relative to the hype 317 00:17:05.000 --> 00:17:09.119 that we often see for Solana, which is quite loud 318 00:17:09.160 --> 00:17:11.039 most of the time, kind of like Chainlay, kind of 319 00:17:11.079 --> 00:17:15.400 like Cardono, very loyal social media following for him. But 320 00:17:16.079 --> 00:17:20.359 right now, despite this big jump, the sentiment doesn't appear 321 00:17:20.400 --> 00:17:23.279 to be anything special. It's up sixteen percent and roughly 322 00:17:23.759 --> 00:17:27.039 a little over a day, and it's only getting about 323 00:17:27.200 --> 00:17:31.799 two bullish comments per one bearish comment. And you compare 324 00:17:31.839 --> 00:17:33.880 that to something like here or is it three point 325 00:17:33.960 --> 00:17:36.839 six to one or even three point seven to one 326 00:17:36.920 --> 00:17:40.160 back in late January? So not really any evidence of 327 00:17:40.200 --> 00:17:44.960 crazy fomo for Solana relative to some of the big 328 00:17:45.000 --> 00:17:47.519 time fomo that we've seen in the past. Yeah, And 329 00:17:47.839 --> 00:17:50.400 it hasn't been much happening on the meme coin side, 330 00:17:51.839 --> 00:17:54.319 and not too much to be excited about with Solana. 331 00:17:54.599 --> 00:17:57.119 And look at overall the entire markets down. But you know, 332 00:17:57.160 --> 00:18:00.359 a lot of Solana's upside has been around memes. 333 00:18:00.880 --> 00:18:01.839 Yeah, remind me tone. 334 00:18:01.920 --> 00:18:06.039 Do you remember what their their top market cap meme 335 00:18:06.079 --> 00:18:07.079 coin is. 336 00:18:07.079 --> 00:18:09.519 Is it bunk? It might be that sounds right. 337 00:18:09.680 --> 00:18:12.200 Yeah, I mean, I know Bank went on a huge 338 00:18:12.279 --> 00:18:16.759 run last year, but yeah, I mean, it isn't showing 339 00:18:16.799 --> 00:18:20.720 any crazy levels of fomo. It has risen a bit, 340 00:18:20.839 --> 00:18:23.079 but you know, these are like the big jumps that 341 00:18:23.079 --> 00:18:25.680 you would see for something like Bank. But you know, 342 00:18:25.759 --> 00:18:28.200 if meme coins do get on a run, yeah, which 343 00:18:28.359 --> 00:18:32.079 should be mentioned. When you see these large caps start 344 00:18:32.119 --> 00:18:35.200 to go off the way they have usually trickles down 345 00:18:35.240 --> 00:18:37.240 over the next couple of days into mid caps and 346 00:18:37.279 --> 00:18:41.839 then meme coins, right, assuming we don't see you know, 347 00:18:42.240 --> 00:18:46.039 bitcoins suddenly retrace right back below sixty five k and 348 00:18:46.039 --> 00:18:47.960 all those profits evaporate too quickly. 349 00:18:48.759 --> 00:18:49.000 Right? 350 00:18:50.200 --> 00:18:53.200 Can we also look at uniswap and yeah, reason why 351 00:18:53.319 --> 00:18:56.240 black Rock announced they're investing in the uniswap token. They're 352 00:18:56.279 --> 00:18:59.039 moving their money market fund on top of the or 353 00:18:59.079 --> 00:19:02.480 in the units up decks. So I'm curious how that's 354 00:19:02.519 --> 00:19:03.240 been performing. 355 00:19:03.720 --> 00:19:07.599 Yeah, I'm interested to see what the long term effects 356 00:19:07.920 --> 00:19:11.720 are of that announcement, But so far, the sentiment doesn't 357 00:19:12.319 --> 00:19:16.880 appear to be showing any signs of the crowd registering it. 358 00:19:17.039 --> 00:19:18.680 They're staying very neutral toward it. 359 00:19:18.839 --> 00:19:22.279 We did see quite a jump as a result of 360 00:19:22.319 --> 00:19:26.279 that news, going up twenty four percent. But yeah, you 361 00:19:26.319 --> 00:19:28.480 can see right here the gold bars are staying low, 362 00:19:29.000 --> 00:19:31.400 not nearly what we saw with this kind of fomo 363 00:19:32.119 --> 00:19:33.359 or this kind of fomo. 364 00:19:34.599 --> 00:19:36.319 That makes sense, which is good. 365 00:19:36.440 --> 00:19:40.640 That means the mainstream crowd has not really caught up 366 00:19:40.640 --> 00:19:42.480 to the news. Maybe they have and they just don't 367 00:19:42.480 --> 00:19:45.160 think it's that big of a deal, but I know 368 00:19:45.240 --> 00:19:49.799 we do. I think that's that's the significant story for uniswap, 369 00:19:49.839 --> 00:19:52.480 which is the thirty third market gap out there right now. 370 00:19:52.480 --> 00:19:55.440 It wasn't like the top fifteen ish or so a 371 00:19:55.440 --> 00:19:56.319 couple of years back. 372 00:19:56.359 --> 00:19:56.839 I remember. 373 00:19:56.960 --> 00:20:00.319 So I know a lot of people who are rooting 374 00:20:00.359 --> 00:20:03.599 for you need to get right back to those coveted 375 00:20:03.640 --> 00:20:04.519 top spots. 376 00:20:05.039 --> 00:20:09.079 Oh absolutely, And maybe that's that's part of the trade 377 00:20:09.079 --> 00:20:11.839 for black rock, right in addition to building on it, 378 00:20:11.839 --> 00:20:14.200 they're investing in the token because people don't seem to 379 00:20:14.240 --> 00:20:16.519 care about it. But and that's where you could, you know, 380 00:20:16.599 --> 00:20:19.079 like we were looking at those privacy coins that were 381 00:20:19.079 --> 00:20:22.160 pumping and then people eventually caught up to it, like wait, 382 00:20:22.480 --> 00:20:24.519 we kind of missed the boat on this and then 383 00:20:24.559 --> 00:20:25.319 Fomo kicks in. 384 00:20:25.799 --> 00:20:27.799 Yeah, great point, all right, Brian. 385 00:20:27.920 --> 00:20:31.279 So I hope that when we meet in a couple 386 00:20:31.319 --> 00:20:35.440 of weeks again that things are in a better place 387 00:20:36.960 --> 00:20:43.559 and we can see further upside, you know, hopefully fingers crossed. Yeah, Bitcoin, 388 00:20:43.599 --> 00:20:45.880 you know, maybe go goes up to eighty eighty to 389 00:20:46.039 --> 00:20:48.680 ninety k all coins have a nice relief rally, and 390 00:20:49.359 --> 00:20:49.960 that would be good. 391 00:20:50.039 --> 00:20:51.279 We need something like that. 392 00:20:52.279 --> 00:20:54.799 I mean, it's at least awesome to see that we're 393 00:20:54.839 --> 00:20:58.480 finally getting a mini breakout here. It's you know, this 394 00:20:58.640 --> 00:21:04.119 is objectively the best collective market cap jump for crypto 395 00:21:04.200 --> 00:21:06.680 that we've seen in twenty twenty six in terms of 396 00:21:06.720 --> 00:21:08.279 a twenty four hour span, so. 397 00:21:10.000 --> 00:21:11.319 Certainly something to celebrate. 398 00:21:11.359 --> 00:21:14.400 Hopefully you guys have not panic sold out before this happened, 399 00:21:15.200 --> 00:21:16.759 and if you did, you know, take it as a 400 00:21:16.759 --> 00:21:21.599 mild lesson that you can't overreact too much to a 401 00:21:21.680 --> 00:21:25.400