Speaker 1: Regarding that sideways action, I wanted to point out, you know,
Speaker 1: one of the primary ingredients is is the fact that
Speaker 1: whales are doing very little.
Speaker 2: This is just the total.
Speaker 1: Amount of whale transactions, Tony. So we're looking at the
Speaker 1: amount of one hundred k plus transactions happening per day
Speaker 1: or one million dollar plus transactions happening per day. And
Speaker 1: this is just the past six months. And you can see,
Speaker 1: I mean, the pattern is very obvious.
Speaker 2: They're both just declining like crazy.
Speaker 3: Because hey, everyone, welcome into the Thinking Crypto podcast. I'm
Speaker 3: your host, Tony Edward, and joining me today is Brian
Speaker 3: from Sentiment, and as you all know, we're going to
Speaker 3: do a deep dive into the metrics or Bitcoin and
Speaker 3: all coins, looking at sentiment and much more to get
Speaker 3: an understanding of where the market's at and where it
Speaker 3: may go next.
Speaker 2: Brian, great to see you. Good to see you, Tony.
Speaker 1: Crazy times in the markets obviously, and as we were
Speaker 1: but speaking about right before we started this call, you know,
Speaker 1: the best thing we can do is except that we
Speaker 1: are on the outside and we know very little about
Speaker 1: the macroeconomic situation going on right now.
Speaker 2: Yeah, that's a great point.
Speaker 3: I think you almost have to throw the charts out
Speaker 3: the window because President Trump or some news can break
Speaker 3: and it can move the markets in one direction the
Speaker 3: other and throughout your models. Right, not to say that
Speaker 3: you get rid of those things entirely, it's just there's
Speaker 3: so much uncertainty, Brian, like you kind of have to
Speaker 3: wait it out.
Speaker 1: Yeah, i'd say, I mean, there are definitely mini swings
Speaker 1: that are still being caused by crypto sentiment, and you know,
Speaker 1: whales doing this or that. But you have to take
Speaker 1: everything that's going on on the metric side with a
Speaker 1: bit of a grain of salt. I say that as
Speaker 1: someone who still finds our own data very valuable. It's
Speaker 1: just when you've got something that's impacting the S and
Speaker 1: P five hundred, therefore crypto on a daily basis, it's
Speaker 1: just going to take precedent until we get some more
Speaker 1: clarity on this entire situation. How much of it is
Speaker 1: fabricated or manufactured by Trump in the US, how much
Speaker 1: is legitimate and this is a obviously it's a very
Speaker 1: real war, but how much of it is a deliberate
Speaker 1: decision to make this continue to stretch out and go
Speaker 1: as long as it needs to go.
Speaker 3: Yeah, for sure, and I'm personally not buying or doing
Speaker 3: anything right now because I'm gonna wait for the dust
Speaker 3: to settle a bit. I know there's some sort of
Speaker 3: deadline today for Iran to open up the straight and look.
Speaker 3: Trump put out a tweet today which is pretty wild,
Speaker 3: and I'm like, okay, I'm not even gonna touch the markets.
Speaker 2: This is too crazy. Yeah.
Speaker 1: Like I said right before the call, I've got a
Speaker 1: queued up and maybe we can just read the wording
Speaker 1: because it just was posted about four hours ago. Most
Speaker 1: of you may not have seen it yet, but here
Speaker 1: he said on truth Social that a whole civilization will
Speaker 1: die tonight and never to be brought back again. I
Speaker 1: don't want that to happen, but it probably will. Just
Speaker 1: a quick pause, just so people understand. He isn't communicating
Speaker 1: this to the American people. He is communicating this directly
Speaker 1: to Iran. And this is no matter what side of
Speaker 1: the political spectrum Iran. When he's posting things on truth
Speaker 1: social about how you know he has to do this
Speaker 1: or it's a shame that.
Speaker 2: Iran won't capitulate.
Speaker 1: He isn't telling like his Republican or Democratic or anyone
Speaker 1: who's in the US followers. He's trying to communicate through
Speaker 1: his social media as a negotiation tactic for the other
Speaker 1: side to listen to and go hmm. I guess he's serious.
Speaker 1: We should listen now and cave to whatever his demands are.
Speaker 1: And the latest demands were, of course, to open the
Speaker 1: straight up moves, which they have a deadline to do today.
Speaker 1: I don't know the exact timing, but I know it's
Speaker 1: in the next few hours from the time of this recording.
Speaker 1: We've seen it before with tariffs, where he is communicating
Speaker 1: with China or he's communicating with a European country in
Speaker 1: order to get what he wants to pass, and I
Speaker 1: think this is the same situation and it's going to
Speaker 1: be very interesting. What I think will happen most likely
Speaker 1: is something gets pushed back. There will be some minor
Speaker 1: attacks of some type, but it won't be to the
Speaker 1: extent of which he finishes this post on which I'll
Speaker 1: read really quick. However, now that we have complete and
Speaker 1: total regime change where different, smarter and less radicalized minds prevail,
Speaker 1: maybe something revolutionarily wonderful can happen.
Speaker 2: Who knows all CAFs. We will find out tonight.
Speaker 1: One of the most important moments in the long and
Speaker 1: complex history of the world. Forty seven years of extra
Speaker 1: or corruption and death will finally end. God bless the
Speaker 1: great people of Iran. So you know, even that last sentence,
Speaker 1: he's trying to separate. You know, hey, I still respect
Speaker 1: the people there. It's just your leaders who don't want
Speaker 1: to listen to what I am demanding. So what's your
Speaker 1: take on all that, Tony?
Speaker 3: Yeah, I know I agree with you, Like, obviously this
Speaker 3: is like part of his negotiation tactic and so forth.
Speaker 3: But I think the big takeaway for folks is when
Speaker 3: you do something like this publicly, it affects markets. It
Speaker 3: puts fear, uncertainty, doubt, all those things out there. And
Speaker 3: this is where we find ourselves as investors looking at
Speaker 3: the charts and so forth. That while look like, you know,
Speaker 3: he clearly surmised it well that he's not putting this
Speaker 3: out here for the American people, but it's for you know,
Speaker 3: the folks in Iran or the government. And but this
Speaker 3: type of stuff does not help us as investors.
Speaker 1: Yeah, uncertainty is usually the the worst ingredient or the
Speaker 1: most bearish ingredient for markets. I talk about it on
Speaker 1: our This Week in Crypto Show on our YouTube channel
Speaker 1: with our founder Maxim. Sometimes bad news is the second
Speaker 1: worst outcome, and unknown news is the worst outcome because
Speaker 1: when it's completely unknown whether something incredibly good or incredibly
Speaker 1: bad is about to happen, you've got people just sitting
Speaker 1: on the sidelines, stagnating, doing nothing, and then volume drives
Speaker 1: up and the and markets tend to decline as a result.
Speaker 2: If it's bad news.
Speaker 1: You've got shorters that jump in trying to take advantage,
Speaker 1: You've got longers trying to buy the dip, and there's at.
Speaker 2: Least utility in crypto.
Speaker 1: As weird as that sounds, you know, you think about
Speaker 1: the tariffs. The worst moment was the beginning of April
Speaker 1: of twenty twenty five, when you had the big board
Speaker 1: of all the different countries and what percentages they're going
Speaker 1: to get their tariffs on. And once it was clarified
Speaker 1: and the tariffs actually went into effect the following week,
Speaker 1: markets actually started getting better. The news was still bad,
Speaker 1: the tariffs existed, but markets started to climb because at
Speaker 1: least people knew what to expect and the dust had settled.
Speaker 1: Whether it was good or bad, depending on your perspective
Speaker 1: on these tariffs.
Speaker 3: Yeah, absolutely, and my hope is that there's some sort
Speaker 3: of resolution soon, like you mentioned earlier, possibly an extension,
Speaker 3: and we get some relief. So maybe we could take
Speaker 3: a look at sentiment around bitcoin and different crypto assets
Speaker 3: and how people are feeling right now.
Speaker 1: Absolutely so, sentiment is kind of just hovering in the middle.
Speaker 1: I can zoom into just the last months. We don't
Speaker 1: need to go back six months here, So it's gone
Speaker 1: back and forth as you would expect, especially around the
Speaker 1: end of March when we were threatening to go below
Speaker 1: sixty five. I think we did actually technically go to
Speaker 1: like sixty four something at some point, and sentiment has
Speaker 1: mostly just followed the trend of where prices are going.
Speaker 2: Yes, they still.
Speaker 1: Overreact or underreact to you know, specific breaking news or
Speaker 1: an air strike that was particularly impactful, but you can
Speaker 1: see the positive spikes here. The two most positive sentiment
Speaker 1: days of March happened right at those local tops, and
Speaker 1: that's not an accident. You want to take profit when
Speaker 1: people are getting euphoric, especially if it's just related to
Speaker 1: you know, prices going above seventy three K or even
Speaker 1: getting above seventy five K.
Speaker 2: Here on March sixteenth.
Speaker 1: These are the times to take profit, and these are
Speaker 1: the times where you can confidently buy because the probability
Speaker 1: is much higher that we will rebound when everyone is negative,
Speaker 1: you know, saying bitcoin is dead, crypto is going to zero,
Speaker 1: stuff like that. So you can see the last local
Speaker 1: top happened when we got just above seventy k yesterday
Speaker 1: and now it's back in the middle of the road
Speaker 1: area because we're waiting on what's going to happen with Trump,
Speaker 1: Andy Ron's deadline.
Speaker 3: Yeah, it's the market's been really where too. It's you know,
Speaker 3: you look at bitcoins, charge just been chopping sideways, right,
Speaker 3: it's really boring. I'm surprised it, but maybe I don't know.
Speaker 3: It's priced in some of the news already. But if
Speaker 3: something more severe happens, you know, we could see a
Speaker 3: dump to further down, but who knows at this.
Speaker 1: Yeah, and regarding that sideways action, I wanted to point out,
Speaker 1: you know, one of the primary ingredients is is the
Speaker 1: fact that whales are doing very little.
Speaker 2: Uh.
Speaker 1: This is just the total amount of whale transactions Tony.
Speaker 1: So we're looking at the amount of one hundred k
Speaker 1: plus transactions happen per day or one million dollar plus
Speaker 1: transactions happening per day. And this is just the past
Speaker 1: six months, and you can see, I mean, the pattern
Speaker 1: is very obvious. They're both just declining like crazy because
Speaker 1: even whales aren't quite sure what to make of everything.
Speaker 1: You can see this sharp decline really happened right around
Speaker 1: the beginning of March when the war really became a war.
Speaker 1: And I don't see this changing until there's a clear
Speaker 1: path to what's next in terms of the war resolving
Speaker 1: or the war getting worse. But this negotiation tactic thing
Speaker 1: through through social you know, Iran is of course using
Speaker 1: social media as well releasing videos. Same on both sides,
Speaker 1: they're both communicating to the people, but really as a
Speaker 1: negotiation tactic for the other sides, world leaders to see.
Speaker 2: And just the.
Speaker 1: Overall utility of crypto is drying up on both the
Speaker 1: whale side as well as just from an overall active
Speaker 1: address and network growth side. You can see these trend lines,
Speaker 1: orange being the amount of unique addresses interacting on a
Speaker 1: daily basis, Purple being the amount of new addresses being
Speaker 1: created on a daily basis. Like they've just significantly dropped
Speaker 1: seven hundred and thirty k or so active addresses per
Speaker 1: day six months ago versus six nine k today, that's
Speaker 1: a pretty steep drop. So that's that's really one of
Speaker 1: the main explanations for the sideways movement is there really
Speaker 1: isn't going to be much volatility when there's less and
Speaker 1: less trading, less and less transferring, and less and less
Speaker 1: new wallet's being created every single day.
Speaker 3: Yeah, that is so telling. And boy, maybe it's it's
Speaker 3: the whales are not doing anything and they're just sitting
Speaker 3: on a sideline for the most part. That's very telling
Speaker 3: that this situation maybe they and then may know something
Speaker 3: right and like this thing could escalate and get worse.
Speaker 2: Let's hold off exactly.
Speaker 1: And I don't think that just because someone has thousands
Speaker 1: of bitcoin or hundreds of bitcoin and it doesn't mean
Speaker 1: that they're in the inner circle and know what's next
Speaker 1: for Trump. Many of them are just like us and
Speaker 1: they're completely in the dark and reading the news on
Speaker 1: X and going, well, I don't know what's going to happen.
Speaker 1: I just have to sit on my on my coins
Speaker 1: right now. I don't want to panic sell and I
Speaker 1: don't want to you know, buy any dips knowing that
Speaker 1: I could be dead wrong because of how unpredictable the
Speaker 1: world is right now. And you can see with the
Speaker 1: bright green line here that represents the ten to ten
Speaker 1: k BTC wallets and they're collective supply held. This is
Speaker 1: like one of the most sideways they've looked for months.
Speaker 1: Usually there's at least a little bit of up and
Speaker 1: down movement, but you know, once we got into the
Speaker 1: third week of March, we kind of declined, and then
Speaker 1: at the end of March it's barely moved. And what's
Speaker 1: interesting is retail, on the other hand, is just defiantly
Speaker 1: buying dips. Like even now, since January twentieth, we go
Speaker 1: back almost three months, they're continuing to climb and accumulate
Speaker 1: more and more, and of course they don't own a
Speaker 1: big chunk, they only own a little over a quarter
Speaker 1: percent of the supply. But what this redline represents is
Speaker 1: their overall call it optimism. I know we're already we
Speaker 1: looked at sentiment overall in terms of social media commentary,
Speaker 1: but in terms of what the actual data indicates with
Speaker 1: their bags, they're still confident that the sixty k's that
Speaker 1: we're in right now is low and we're eventually going
Speaker 1: to return back to one hundred k, and they're viewing
Speaker 1: all of this as buy into the fear, as a
Speaker 1: buy into the fear situation that they can take advantage of.
Speaker 3: Man telling Brian that sideways right, that line flat is flat?
Speaker 1: Yeah, I mean, how much can it really move when
Speaker 1: the whale transactions itself are so low. It's just it's
Speaker 1: pretty shocking that even those key stakeholders can't really find
Speaker 1: an opportunity to take advantage of where we're at right now.
Speaker 1: So on a note, what does the MBRV look like
Speaker 1: for bitcoin? Yeah, right now, it's good news. We're still
Speaker 1: in a short term a slight deficit when it's normally
Speaker 1: a zero sum game. So wallets that have been active
Speaker 1: in the past thirty days, pardon me, are down about
Speaker 1: two percent, and the wallets that have been active in
Speaker 1: the past year are down about twenty eight percent. When
Speaker 1: both of these lines are in negative territory, it means
Speaker 1: that the probability of a rise is higher than average,
Speaker 1: meaning you buying into your position further or adding on
Speaker 1: doing so at a lower risk than the average point
Speaker 1: in bitcoin's history. So there is some upside here if
Speaker 1: you can be patient. Doesn't mean tomorrow things are going
Speaker 1: to jump back above seventy K or seventy five K.
Speaker 1: It means that you adding on is justified based on
Speaker 1: the amount of quote unquote blood in the streets.
Speaker 3: Yeah, I mean, certainly there could be more downside. But
Speaker 3: you know, I've been telling people outside of this Iran situation,
Speaker 3: and everything's happening. It's still all time, you know, if
Speaker 3: you're looking at it from a yearly standpoint, a great
Speaker 3: opportunity to start dollar cost averaging in. And while no
Speaker 3: one can call the exact bottom, I believe we are
Speaker 3: in a bottom zone. We've crashed down obviously big time,
Speaker 3: from one to twenty six one hundred and twenty six
Speaker 3: thousand in October of last year. And if you have
Speaker 3: a long term enough horizon, these are very good entries.
Speaker 3: Now if you're looking I need to make you know,
Speaker 3: one hundreds of thousands of dollars by next month not
Speaker 3: a good probably not a good idea.
Speaker 1: Yeah, exactly. And you know that that was almost exactly
Speaker 1: six months ago. Now, I guess the ultime I was
Speaker 1: like October fifth, But you can see how the MVRV,
Speaker 1: especially the long term MVRV, was still above water as
Speaker 1: prices were falling, and it didn't really get below until
Speaker 1: mid November crashed all the way down to about what
Speaker 1: the low eighty ks or so, and that's when you
Speaker 1: can see that we were in kind of a similar
Speaker 1: situation where we're at now both lines well below zero percent.
Speaker 1: I guess right now the orange line is just a
Speaker 1: little below zero, but the blue line is worse than
Speaker 1: what it was back then. And then we got that
Speaker 1: relief rally going on, and it went all the way
Speaker 1: up until mid January before we had the really big
Speaker 1: dip in early February. You see the same situation, both
Speaker 1: lines well below zero, and then we get a minor
Speaker 1: relief rally. So I guess really what we would want
Speaker 1: to see is the orange line potentially get below ten percent.
Speaker 1: If it does get down that far. There's no guarantee
Speaker 1: it will, but that's when you've got like a historically
Speaker 1: good opportunity zone that matches what we saw in early
Speaker 1: February and late November.
Speaker 3: Yeah, and usually what we've seen when bigcointeers, you know,
Speaker 3: those all time lows. And I think there may be
Speaker 3: another leg down, not guaranteed, of course, let's say it
Speaker 3: gets it a fifty case. I think there's gonna be
Speaker 3: a lot of buying historic from what we've seen historically,
Speaker 3: like Wales and all these guys are going to buy up.
Speaker 3: Well at that point, you know, the majority of folks
Speaker 3: retail are going to be scared as hell, right, and
Speaker 3: there's going to be some big narrative, maybe the war
Speaker 3: escalades or something else, and it's the same story over
Speaker 3: and over. Right, that would be the amazing time to
Speaker 3: grab it up. But as usual, there's going to be
Speaker 3: a lot of fear.
Speaker 2: Agreed.
Speaker 1: Yeah, people are so used to the sixty ks now
Speaker 1: it doesn't feel like a scary number anymore, as simple
Speaker 1: as that sounds. And once if we do get to
Speaker 1: the fifty ks, that's going to be a psychological change
Speaker 1: for the crowd, and they're going to start thinking then
Speaker 1: about what if it's going to forty k, thirty K
Speaker 1: And you'll one hundred percent see some fear really trickle
Speaker 1: in at that point. And if we need to have
Speaker 1: that stage of ultimate fear in order to get the
Speaker 1: long term rally that so many people are waiting for,
Speaker 1: it's going to be once we breach you know, sixty
Speaker 1: K and start really testing a lot of holder's patients
Speaker 1: especially on the retail side. We need to see retail
Speaker 1: just start to lose their faith that crypto and bitcoin
Speaker 1: are long term investments they can believe in.
Speaker 2: M How about we.
Speaker 3: Look at the MVRV for Ethereum.
Speaker 1: Sure, yeah, so Ethereum's actually slightly outpaced Bitcoin. I was
Speaker 1: looking at the screener just to check on their returns. Yeah,
Speaker 1: Ethereum's up like one percent in the past week, while
Speaker 1: Bitcoin was down. I think I saw like zero point
Speaker 1: five percent, So it's just slightly outpacing it. You can
Speaker 1: see network growth and active addresses, by the way, declining
Speaker 1: again after sort of an unusual peak at the beginning
Speaker 1: of February. But from what I see on the mvr
Speaker 1: V end it's almost identical negative one and a half
Speaker 1: percent for thirty day and actually technically negative zero point
Speaker 1: six percent for thirty day and negative thirty one percent
Speaker 1: for three sixty five day, So actually a little more
Speaker 1: opportunity on the long term side and almost identical on
Speaker 1: the short term side. So I wouldn't really differentiate those
Speaker 1: tiny margins much. Both are telling the same story Bitcoin
Speaker 1: and Ethereum.
Speaker 3: And then how about sentiment for etherorem m HM.
Speaker 2: Right now, So on sentiment.
Speaker 1: You can lock the asset to anything and that way
Speaker 1: it won't change if you're looking up like a secondary asset.
Speaker 1: But now I've unlocked them, and it looks maybe slightly
Speaker 1: more negative on ethereum for whatever reason. It had a
Speaker 1: huge negative sentiment day two days ago Sunday the fifth,
Speaker 1: and it's rebounded a little, but still it's obvious that
Speaker 1: the positive sentiment that we saw more in mid March
Speaker 1: has dissolved and it's changed to mostly negative. So this
Speaker 1: is a little more on a bearish sentiment track compared
Speaker 1: to Bitcoin's more neutral story.
Speaker 3: Yeah, I mean it seems like most all coins are
Speaker 3: probably going to be in the same position as eth
Speaker 3: just because it's wild. Other like, maybe we could look
Speaker 3: at XRP now XRP sentiment and yeah, which has done
Speaker 3: really poorly. By the way, XRP is underperforming by a
Speaker 3: lot compared to some of the other blue chips. Yeah,
Speaker 3: I'm not surprised.
Speaker 1: It's seeing some very negative sentiment right now, and this
Speaker 1: can be a good sign for you long term XRP holders.
Speaker 1: If you see the top left of my screen, that
Speaker 1: yellow yellow bar is showing zero point eighty six in
Speaker 1: terms of positive versus negative sentiment ratio. That means that
Speaker 1: there are more bearish comments across x, Reddit, Telegram, et
Speaker 1: cetera than there are bullish comments. Not surprised, And I'm
Speaker 1: sure it's probably gonna be the same for Solana, right
Speaker 1: or some.
Speaker 2: I would assume.
Speaker 1: So, Yeah, Solana has also performed pretty poorly, almost as
Speaker 1: bad as XRP since that top in mid March. Surprisingly,
Speaker 1: it's seeing some pretty positive sentiment. Who knows why, I
Speaker 1: don't think it. Yeah, go ahead, all right.
Speaker 3: They do have a summit coming up, so it may
Speaker 3: be I'm actually going to be attending that summit on Monday.
Speaker 2: Yeah, so they.
Speaker 3: Have some events going on, so that might be contributing
Speaker 3: to some of the sentiment.
Speaker 1: Makes sense, And that's why sentiment isn't always a perfect science,
Speaker 1: because it can get a little oversaturated by some event
Speaker 1: news or some update that the coin had, and suddenly
Speaker 1: there's just more discussion about it, and that will trickle
Speaker 1: into our algorithm as positive sentiment because people are excited
Speaker 1: about that event or updates. So maybe that's why we're
Speaker 1: seeing the anomaly that we're seeing today.
Speaker 2: Yeah, for sure.
Speaker 3: Can we take a look at XRP ANDBRV curiously.
Speaker 1: Yeah, yeah, I think that's going to look really negative
Speaker 1: based on how much XRP has declined in the last
Speaker 1: couple of months. Yeah, so as expected, it's definitely lower
Speaker 1: than bitcoin and ethereum. It's about negative four point three
Speaker 1: percent on the thirty day. You can see just how
Speaker 1: low it really got here on that big crash. It
Speaker 1: got all the way down to native thirty two percent
Speaker 1: in early February, and the long term was below negative
Speaker 1: fifty percent, which is pretty historically low, but it's getting
Speaker 1: there again. It's down at negative forty one percent for
Speaker 1: those long term traders. So if you're looking for a
Speaker 1: blood in the streets opportunity, it looks like XRP is
Speaker 1: the best candidate over bitcoin and ethereum right now.
Speaker 3: Yeah, and great opportunities to dull cross average in But
Speaker 3: as always, folks, remember you got to have that long
Speaker 3: term view and there could still be more downside vaulty
Speaker 3: with what we exactly what we started this episode with,
Speaker 3: you know, with this Iran situation, if that escalates to
Speaker 3: see markets tumble, But again, if you have a long
Speaker 3: term view, it's a great great dollar coross average opportunity.
Speaker 1: One hundred percent, and I also was looking at our
Speaker 1: social trends page because you can type in any sort
Speaker 1: of combination of words and see how much they're being
Speaker 1: discussed across different platforms like Telegram, Reddit, x four chan, etc.
Speaker 1: And what I did here is I just combined words
Speaker 1: like war, conflict, battle tensions with words like end, ending, finished, overdone, completed,
Speaker 1: And as you would imagine, this is basically a chart
Speaker 1: that measures the amount of optimism that the war's going
Speaker 1: to end, and when it gets high, we typically will
Speaker 1: see the opposite outcomes happen, like the two biggest spikes.
Speaker 1: I know the colors are a little faint, but I
Speaker 1: can't change them right now.
Speaker 2: Our team, by the way, is.
Speaker 1: Working on a completely brand new UI that looks amazing,
Speaker 1: so I'm excited to share that once we have that release.
Speaker 1: But yeah, like social volume and dominance gets super high
Speaker 1: right here on March twenty fifth, I can't remember the
Speaker 1: exact news, but I'm sure people were excited about the
Speaker 1: potential of the war ending, and then all of a sudden,
Speaker 1: prices drop right after because the.
Speaker 2: War did not end. Again.
Speaker 1: Right here March thirty first, people get super optimistic, and
Speaker 1: right after we see a little bit of a nose
Speaker 1: dive back to sixty six K. So, long story short,
Speaker 1: I think that the overall trend, if I could draw
Speaker 1: a line on this page, it's definitely going slightly up,
Speaker 1: with more and more people optimistic that the war will
Speaker 1: end soon. I would use it as kind of a
Speaker 1: counter signal and just look at the really big spikes
Speaker 1: as indications that FOMO is starting to creep in a
Speaker 1: little bit.
Speaker 3: Yeah, great insights. Obviously, we hope that this situation resolves sooner,
Speaker 3: not just because of markets, but you know, nobody wants
Speaker 3: to be in a war and people's lives and all that,
Speaker 3: but it does impact the markets, and we'll use as
Speaker 3: a secondary thing and hopefully, Brian, by the time we
Speaker 3: meet next things have not asked related, but they de
Speaker 3: escalated and we're in a better position there, fingers frost Tony. Yeah,
Speaker 3: good stuff, Brian. So we'll meet in a couple of
Speaker 3: weeks and see how the charts and the data looks
Speaker 3: and go from there. But thank you so much, my friend.
Speaker 2: Thank you always a pleasure