Speaker 1: Hey, everybody, Welcome into the Thinking Crypto podcast. You're home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward.
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Speaker 1: Let's start with the price of bitcoin. It cross one
Speaker 1: hundred and ten thousand dollars once again, so we're seeing
Speaker 1: on the daily chart here some green candles. However, Bitcoin
Speaker 1: could still roll over and test some lows, so we
Speaker 1: want to be cautiously optimistic. I'm happy we're seeing movement upwards,
Speaker 1: but we've seen the market facus out before, and this
Speaker 1: is where I'm saying, be cautiously optimistic. Let's see what
Speaker 1: happens now. Of course, that perspective is from the micro.
Speaker 1: From the macro. I believe we're headed to new all
Speaker 1: time highs. All coins will follow all that jazz, But
Speaker 1: right now we're trying to see Bitcoin show strength, start
Speaker 1: grabbing liquidity, make its move to a one hundred and
Speaker 1: twenty five to one hundred and thirty k hit the
Speaker 1: overbought zone. Cool down, then the liquidity rotates to the
Speaker 1: all coins. That is what I'm looking for, guys, So
Speaker 1: let's hope fingers crossed. This is indeed the move upwards
Speaker 1: to get out of this corrective phase after a very
Speaker 1: strong move to one hundred and twelve thousand dollars setting
Speaker 1: a new all time high. But what I'm seeing on
Speaker 1: the chart, this looks really good because a lot of
Speaker 1: people were calling the top of the market being in oh,
Speaker 1: it's a double top cz right, But they don't show
Speaker 1: chart analysis, they don't share any on chain data or
Speaker 1: macro data. They just share emotions. You're going to see
Speaker 1: them in the comment section. But as always, I'm sharing
Speaker 1: data with you all. So let's see what bitcoin continues
Speaker 1: to do this week. Once again. My hope is that
Speaker 1: it keeps moving upwards and the RSI can probably enter
Speaker 1: the overbod zone and once again that maybe takes us
Speaker 1: to new highs of one hundred and twenty five to
Speaker 1: one hundred and thirty k. We'll have to be patient
Speaker 1: here and see how it plays out. But we're seeing
Speaker 1: movements across the board. The stock market is in a
Speaker 1: v shape recovery. Global liquidity continues to rise, the Dollar
Speaker 1: Currency Index, the DXY continues to show weakness and it's
Speaker 1: breaking down, all great signs. Bitcoin in the weekly chart
Speaker 1: continues to look good, with the mac D still in
Speaker 1: the green zone, showing the bulls have control. The weekly
Speaker 1: RSI also was not in the overbought zone, so it
Speaker 1: has room to run here. So all these things paint
Speaker 1: a great picture for a bitcoin to continue its move.
Speaker 1: We are still in a bull market, as I've been
Speaker 1: telling you all based on the data, so we just
Speaker 1: got to be patient and let Bitcoin do its thing,
Speaker 1: and then all coins are going to have their day
Speaker 1: to run. But the liquidity has to enter through Bitcoin.
Speaker 1: That's just how we've seen it in the market. So
Speaker 1: let's see what happens. You know, I hope bitcoin doesn't
Speaker 1: fake us out because then it just takes it just
Speaker 1: makes the process longer. But if it's able to just
Speaker 1: keep moving up here, that will be amazing and very
Speaker 1: good for everyone because even if you don't hold Bitcoin,
Speaker 1: it's going to help the all coins. So this is
Speaker 1: great stuff. And as Bitcoin was on the move, a
Speaker 1: lot of shorts got liquidated. So the bears who are
Speaker 1: trying to short bitcoin saying oh the top is en
Speaker 1: see YadA, Yeah, they got liquidated. So over one hundred
Speaker 1: and ten million dollars of shorts were liquidated today and
Speaker 1: great chart analysis by Wrecked Capital highlighting the following saying
Speaker 1: it's official. It's confirmed. Bitcoin has successfully retested one hundred
Speaker 1: and four thousand, four hundred dollars a reaccumulation range high
Speaker 1: resistance as new support for four straight weeks. Bitcoin is
Speaker 1: rebounding from this new support base in an effort to
Speaker 1: transition into price discovery again. So once we cross one
Speaker 1: hundred and twelve k, which is the all time high
Speaker 1: that was set recently, then we're going to head into
Speaker 1: price discovery and that's when the fun part of the
Speaker 1: rally begins. So as always have a profit taking plan
Speaker 1: so you walk away from this bull market with money
Speaker 1: in your pocket now, folks. Today was an SEC roundtable
Speaker 1: which covered DeFi and Paul Atkins. The chair of the SEC,
Speaker 1: had some very bullish statements to make. One of the
Speaker 1: things he said is the right to have self custody
Speaker 1: of one's private property is a foundational American value, So
Speaker 1: essentially saying the right to custody, you're crypto self custody.
Speaker 1: It is an American value. Let me play the clip
Speaker 1: for you.
Speaker 2: Another core feature of blockchain technology is the ability of
Speaker 2: individuals to have self custody of crypto assets in a
Speaker 2: personal digital wallet. The right to have self custody of
Speaker 2: one's private property is a foundational American value that should
Speaker 2: not disappear when one logs onto the internet. I'm in
Speaker 2: favor of affording greater flexibility to market participants to self
Speaker 2: custody crypto assets, especially where intermediation imposes unnecessary transaction costs
Speaker 2: or restricts the ability to engage in staking and other
Speaker 2: on chain activities.
Speaker 1: So you heard it straight from the horse's mouth, folks.
Speaker 1: That is very bullish coming from the SEC chair, a
Speaker 1: complete one point eighty from a scumbag regulator, Gary Ginser.
Speaker 1: Here's what Caitlin Long, founder and CEO of Custodia Bank
Speaker 1: have to say about Paul Atkins's statements. She said, and
Speaker 1: with this, the SEC officially begins reversing decades of attempts
Speaker 1: to eradicate bearer assets from the US financial system, which
Speaker 1: began with the UCC Article eight in nineteen ninety four
Speaker 1: and reached its peak under Biden Slash Warren's war on
Speaker 1: cash self custody of private property equals foundational. Now many
Speaker 1: of you know, I'm a big believer in self custody.
Speaker 1: For years, I keep telling you guys, do not put
Speaker 1: your crypto in exchanges. And folks, my sponsor Treasure, they
Speaker 1: make great hardware wallets that allow you to easily self
Speaker 1: custody your crypto assets. I'm a user the product. I
Speaker 1: use the Treasure say five and Treasure was the creator
Speaker 1: of hardware wallets. The company was the ones who created
Speaker 1: the hardware wallet. They were the first to pioneer this,
Speaker 1: even the seed phrase set up as well. They support
Speaker 1: a variety of coins including Bitcoin, XRP, Solana, Ethereum, and
Speaker 1: all the top coins. They have a great software called
Speaker 1: Treasure Suite to help you manage all of this. They
Speaker 1: support new coins as well. They even have a handholding
Speaker 1: service that can help you to set up your device
Speaker 1: so you can talk to a Treasure rep And if
Speaker 1: you use the code thinking crypto all one word, you
Speaker 1: can get five percent off your purchase of a device. So,
Speaker 1: once again, guys, hardware wallets are the way to go.
Speaker 1: Self custody is the way to go. And as Paul
Speaker 1: Atkins said, there it is your right to do that.
Speaker 1: And we've seen exchanges get exploited and much more. It's
Speaker 1: not wrong to use exchanges, but I wouldn't recommend leaving
Speaker 1: your assets on exchanges. It's just very risky. So this
Speaker 1: is why I hold the majority of my crypto assets
Speaker 1: on Harbare waltts. So if you'd like to learn more
Speaker 1: about Treasure, check out the link in the description. Now, folks,
Speaker 1: I'm going to share some news that I did highlight
Speaker 1: on this morning stream or for those of you who
Speaker 1: missed it, I want to highlight the following and as
Speaker 1: that confirms XRP, Solana Cardano and XLM in the Benchmark
Speaker 1: Index via new SEC filing. So you're seeing demand for
Speaker 1: more all coins and look at the names, right, pretty incredible.
Speaker 1: This is much more than bitcoin. This acid class is
Speaker 1: much more than bitcoin, but bitcoins a big part of it,
Speaker 1: of course. But you're seeing stock exchanges like the NASDAK
Speaker 1: and other stock exchanges, and banks and Wall streeters are
Speaker 1: in a race to build ETF and index and financial
Speaker 1: products and pricing products and much more around these different assets.
Speaker 1: It's pretty incredible. So these things are also indications of
Speaker 1: the spot ETF approvals that I think are around the corner.
Speaker 1: So Nasdaq has officially filed and sec form eight K
Speaker 1: for hashtecks, NASDAK Crypto Index US ETF confirming it has
Speaker 1: reconstituted its benchmark index to include four new digital assets, Cardano, Solana, Stellar,
Speaker 1: Lumins which is XLM, and XRP. These coins are now
Speaker 1: part of the Nasdaq Crypto US Settlement Price Index, which
Speaker 1: the ETF uses as its benchmark. This is bullish news, right.
Speaker 1: I don't think I need to say more. We are
Speaker 1: just seeing all of these folks in a race, a
Speaker 1: competition to get their products launched around these different crypto assets.
Speaker 1: Incredible stuff. Now, many of you know I hold chain
Speaker 1: Link in my portfolio. I'm very bullish on chain Link. Well,
Speaker 1: there's some huge adoption news around chain Link. They tweeted out,
Speaker 1: We're excited to share that chain Link is facilitating the
Speaker 1: secure exchange of a Hong Kong CBDC and an Australian
Speaker 1: dollar stable coin as part of an ongoing use case
Speaker 1: in Phase two of the EHKD plus pilot program. They
Speaker 1: said congratulations to the participants Visa, an Z, China, AMC
Speaker 1: and Fidelity International on their role in transforming cross border payments.
Speaker 1: So we are seeing these blockchains being used as the
Speaker 1: rails to move value and money and different types of assets.
Speaker 1: And as I've been saying, guys, the governments, the economies,
Speaker 1: and markets will all run on blockchain rails. And you
Speaker 1: want to do your research and see which blockchains are
Speaker 1: going to be adopted by these different governments around the
Speaker 1: world and take your bets because in the first time
Speaker 1: in history, you can participate. You don't have to be
Speaker 1: an accredited investor, you don't have to be a wall streeter,
Speaker 1: a hedge fund person. You can simply be the average
Speaker 1: job buying some of these tokens. You can buy a
Speaker 1: fraction of them, and all you need is an Internet
Speaker 1: connection and a smartphone. Right. So this is how the
Speaker 1: whole system has changed. It's a paradigm shift. So very
Speaker 1: bullish news here for a chain link. I hold it
Speaker 1: at my portfolio. Very bullish on this project. Moving ahead,
Speaker 1: we got news here to Tether plans to open source
Speaker 1: bitcoin mining os CEO says no need for third party vendors.
Speaker 1: So this is interesting. Let me give it a detail.
Speaker 1: Stable cooin issuer Tether plans to open source it's bitcoin
Speaker 1: mining software, a move the companies that would allow new
Speaker 1: miners to enter the market without real life buying on
Speaker 1: expensive third party vendors. By open sourcing its bitcoin mining OS,
Speaker 1: a horde of new bitcoin mining companies will be able
Speaker 1: to enter the game and compete to keep the network safe,
Speaker 1: Tether CEO Paolo Ardino said in a Monday X post.
Speaker 1: Arduino describe the bitcoin mining OS as scalable and modular,
Speaker 1: built with a peer to peer Internet of Things architecture
Speaker 1: at its core. The new operating system will support existing
Speaker 1: mining infrastructure, including several containers and other power devices, he said,
Speaker 1: So this is really great, it makes sense, and I
Speaker 1: think bitcoin mining is going to enter the big leagues.
Speaker 1: You're going to see big institutions like your Wall streeters
Speaker 1: and banks and much more, and even governments start to
Speaker 1: mine bitcoin. It's going to become more expensive to mine bitcoin.
Speaker 1: The difficulty rate's going to increase because you're in the
Speaker 1: last leg, so to speak, of mining bitcoin with the
Speaker 1: majority already being mined, and I think there's going to
Speaker 1: be a race to get as much bitcoin as possible.
Speaker 1: Bigcoin's becoming a country and corporate reserve asset, so you're
Speaker 1: going to see the value increase and there's going to
Speaker 1: be a lot of demand in the United States. Of course,
Speaker 1: was a big domino to fall setting up the Strategic
Speaker 1: Bitcoin Reserve. Now look at this news. Coinbase says it's
Speaker 1: reduced account lockouts by eighty two percent, so this is good.
Speaker 1: Even though while it was happening, it's bad. They were
Speaker 1: doing a lot of account freezing and some people who
Speaker 1: didn't do anything wrong were getting their accounts free so
Speaker 1: their system was clearly not working properly. Here's what CEO
Speaker 1: Brian Armstrong said. Account freezing has been a major issue
Speaker 1: at coinbase for longer than is acceptable, So yeah, for sure,
Speaker 1: he says, I could list a bunch of underlying reasons
Speaker 1: why it got so bad in the first place, but
Speaker 1: what's more important is that we've made a priority to
Speaker 1: fix and we have been making good progress. So this
Speaker 1: is good. Obviously, Coinbase had that data breach issue recently,
Speaker 1: and look, they made it their customers whole, you know,
Speaker 1: those who lost their money. But they got to be better,
Speaker 1: you know, they got to invest some of that money
Speaker 1: going public and being the largest exchange in the United
Speaker 1: States and build out their security and build out their
Speaker 1: customer service. They got to be better. Right, and we
Speaker 1: got to put the pressure on them. Now, folks, we
Speaker 1: got news that the stable Coin Build a Genius Act
Speaker 1: could pass this week. So apparently Congressman John Toon or
Speaker 1: the Senate Majority leader, so Senator John Tuone, he's looking
Speaker 1: to get this through. And Cara Calvert of coinbase tweeted
Speaker 1: out grateful to the senators on both sides of the
Speaker 1: isle who have burned the midnight oil for weeks to
Speaker 1: find a bipartisan path forward on the Genius Act, and
Speaker 1: she said huge things to Leader John Tuone for bringing
Speaker 1: the finish line within reach. This is what leadership looks like.
Speaker 1: So it would be incredible to have that stable coin
Speaker 1: bill pass. This we got to sendate, folks, because if
Speaker 1: it gets passed, then we can go straight to President
Speaker 1: Trump for signatures. And the stable coin bill is a
Speaker 1: high priority because of its impact on the US dollar
Speaker 1: and the geopolitical aspect of that with the US dollar
Speaker 1: being the world reserve currency. So let's keep an eye
Speaker 1: on this. This could be bullish, This could be a
Speaker 1: catalyst if you go back to the chart here bitcoin
Speaker 1: to send bitcoin to new highs, right, just a huge
Speaker 1: macro catalyst, very bullish in the market. So let's keep
Speaker 1: our eyes in the ears open and if that happens,
Speaker 1: that would be perfect, but we'll have to wait and see. So, folks,
Speaker 1: that's the news. Let me know what you think. Leave
Speaker 1: your thoughts and comments below hit the thumbs up button.
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Speaker 1: is a comprehensive course packed with tons of value, so
Speaker 1: go to Mycrypto course dot com. All the links will
Speaker 1: be in a description. Folks, thank you so much for
Speaker 1: watching and listening. I appreciate you all and I'll talk
Speaker 1: to you all later