Speaker 1: Hey everyone, 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: we got to start with the price of bitcoin as
Speaker 1: well as all coins, because we are starting to see
Speaker 1: all coins do their relief rally following a bitcoins move. Now,
Speaker 1: the good thing about Bitcoin, after its recent pullback, you know,
Speaker 1: dropping down to about seventy eight k or so, it
Speaker 1: has bounced back and it's above eighty k. So, as
Speaker 1: we talked about in yesterday's podcast, I didn't expect this
Speaker 1: to be some sort of major downturn for bitcoin. I
Speaker 1: still think there's more upside. There is a CME gap
Speaker 1: around eighty four thousand, and Bitcoin could overshoot and touch
Speaker 1: eighty seven, eighty nine or ninety thousand, right, we could
Speaker 1: go even higher. So we're gonna have to wait and see.
Speaker 1: And right now, Bitcoin still shows on the daily chart,
Speaker 1: the MACDI shows the bulls are still in control and
Speaker 1: the RSI still shows room to run. So let's see
Speaker 1: what Bitcoin does in the coming weeks. But as we
Speaker 1: also talked about yesterday, guys, watch the all coin market
Speaker 1: because as Bitcoin cool down a bit, we are seeing
Speaker 1: Total three is breaking out even individual all coins. Look
Speaker 1: at the ONDO chart. My goodness, Onto had a major pump.
Speaker 1: It is so overheated right now, so you can probably
Speaker 1: see a pullback. But this is what we're going to
Speaker 1: start to see for the different all coins. So the
Speaker 1: proof is here. These are the charts, this is the data.
Speaker 1: I'm not making it up. So we're seeing rotation of
Speaker 1: liquidity and again we're seeing confirmation of it on Total
Speaker 1: three as well as individual all coins. Onto being a
Speaker 1: great example with a major breakout here after crazy sideways
Speaker 1: consolidation for months upon months, we're seeing that breakout. So again,
Speaker 1: I do believe this is just a relief rally, not
Speaker 1: a move to new all time highs. If it goes
Speaker 1: to new all time highs within the next three to
Speaker 1: four months, I will gladly be wrong. I'll come on
Speaker 1: here and say guys, I was wrong. We're at new
Speaker 1: all time highs, because at that point I don't care
Speaker 1: about being wrong. About that, because my portfolio will be
Speaker 1: you know, the important thing, it will be up. But again,
Speaker 1: looking at all factors and everything that's going on, I
Speaker 1: believe this is just a relief rally and we most likely,
Speaker 1: as far as probabilities, we'll see new all time highs
Speaker 1: by next year. I think that's possible, but obviously not guarantee.
Speaker 1: You know, we're talking probabilities here. So the other factor
Speaker 1: was highlighting that it's giving confirmation to this all coin
Speaker 1: rally is the bitcoin dominance is breaking down, so bigcoin's
Speaker 1: losing its dominance, and alts are starting to wake up.
Speaker 1: These are things we've seen before. In addition, this rally
Speaker 1: is legit because we're seeing you as the t dominance
Speaker 1: continue to drop, meaning the stable coin liquidity, it's making
Speaker 1: its way back to the market. So this is very
Speaker 1: good guys. I'm sure many of you are happy about this.
Speaker 1: It's better than being in a massive down trend going
Speaker 1: to lows. And you know, one of the things I've
Speaker 1: been saying recently was I believe the majority of the
Speaker 1: downside move was completed, but there was still a possibility
Speaker 1: Bitcoin could go down and test some lows. How low,
Speaker 1: I don't know right. I've been saying it could go
Speaker 1: test the lows we did in February fifty AK or
Speaker 1: go to fifty k. Right, So maybe after this rally
Speaker 1: is complete it does do that, or maybe not. Again,
Speaker 1: we don't have a crystal ball, but we're looking at
Speaker 1: the probabilities. So I hope you appreciate I'm giving you
Speaker 1: the different scenarios. I'm not biased to one side because
Speaker 1: I don't want to be a fool. I don't want
Speaker 1: to say, hey, oh it's going to be going to
Speaker 1: pump to two hundred thousand dollars next month, or it's
Speaker 1: going to drop the thirty thousand. That that would be stupid, right,
Speaker 1: But I want to at least say, here's the possibilities,
Speaker 1: and that's what we're saying. The other factor we've been
Speaker 1: looking at, because it's highly correlated, is the stock market. Guys.
Speaker 1: The S and P five hundred continues to make all
Speaker 1: time highs Bulls are still in control per de mac D. However,
Speaker 1: the SMP five engine and the NASDAC are both in
Speaker 1: the overbot zone. Pretty RSI. Now, the stock market, because
Speaker 1: it's so massive, not as volatile as crypto, and there's
Speaker 1: more liquidity. It can stay in the overbot zone for
Speaker 1: a long time. If you go look at the chart
Speaker 1: throughout history, it will stay up there. Even if it
Speaker 1: has little pullbacks, it will stay in the overbot zone.
Speaker 1: So this could play out over the next three to
Speaker 1: four weeks before you have some major correction, but it
Speaker 1: continues to print new all time highs. This is very
Speaker 1: good for crypto, right. It bodes well because there's a
Speaker 1: high correlation here. But guys, we're seeing all the things
Speaker 1: we want to see breakout on total three individual all
Speaker 1: coins are waking up. In fact, one analyst shared the
Speaker 1: crypto market cap excluding the top ten, which is different
Speaker 1: from the total three, right, so everything in the top
Speaker 1: ten removed that is breaking out as well. So it
Speaker 1: means all coins further down the list are starting to
Speaker 1: at liquidity and are waking up. Very very good, guys.
Speaker 1: Now part of what's driving some of this bullishness. In
Speaker 1: addition to liquidity and everything else that's going on, we
Speaker 1: just got confirmation today from the Senate that the CLARITYAC
Speaker 1: markup will happen next week on May fourteenth at ten
Speaker 1: thirty am. So we are moving forward with this bill,
Speaker 1: the cryptical legislation, and you know, one of the things
Speaker 1: I've been talking about, there's going to be I think
Speaker 1: a big bider rumor sell the news event once this
Speaker 1: bill passes, and we could see the start of the supercycle.
Speaker 1: That doesn't mean we're not gonna see corrections. It means
Speaker 1: more liquidity will start pouring into this market as we
Speaker 1: head into the bull market. So I believe we're going
Speaker 1: to see a really big bull run, you know, come
Speaker 1: next year and even into twenty twenty eight, and all ambiguity,
Speaker 1: all confusion will all be put to rest because the
Speaker 1: Clarity Act will give the institutions and all the players
Speaker 1: the ability to just build, invest, innovate, and much more.
Speaker 1: So very very exciting. So today my co host Amanda
Speaker 1: and I interviewed Cody Carbone of the Digital Chamber. We
Speaker 1: went through all the details about the Claritiac markup and
Speaker 1: much more, as well as the Bitcoin Reserve news that's
Speaker 1: coming very soon and that interview is going to be
Speaker 1: published tomorrow morning, so you don't want to miss it.
Speaker 1: But guys, we're making progress. The stable coin compromise is done.
Speaker 1: The bill is now going to the markup. It's then
Speaker 1: going to have to be passed in the Senate and
Speaker 1: then it'll go back to the House to be passed,
Speaker 1: and then it will go to President Trump. And as
Speaker 1: Patrick Witt, the White House crypto advisor said recently, he
Speaker 1: anticipates this all is going to be completed by July fourth.
Speaker 1: So again, we got maybe another two months for this rally,
Speaker 1: and bitcoin could go higher, maybe we touch one hundred k. Again,
Speaker 1: I don't anticipate and move to new all time highs
Speaker 1: and alts really pop off, so let's see. It's a
Speaker 1: very good time. But I also want to be cautiously
Speaker 1: optimistic because the stock market is overheated, the Iran war
Speaker 1: situation still in the background, right, So this is where
Speaker 1: as an investor, I'm looking at all things, all the rewards,
Speaker 1: the risk, the situations, and look at the probabilities of
Speaker 1: what may play out, right, guys, So I hope you
Speaker 1: appreciate that that we're looking at this holistically from a
Speaker 1: three to sixty view. So I'm really really happy what
Speaker 1: I'm seeing here on the charts, guys, and what the
Speaker 1: metrics are showing me, not feelings and emotions, just the
Speaker 1: chart is showing me some good things. So that's what
Speaker 1: I'm happy about now. Quick word from our sponsor.
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Speaker 2: we got a big update here from Blackrock. So we
Speaker 2: already know.
Speaker 1: Blackrock has tokenized its own money market fund on Etheroreum
Speaker 1: and other blockchains, right, it's called biddle. Well, they're planning
Speaker 1: to launch more money market funds on Etherereum. So Blackrock
Speaker 1: is preparing to launch two tokenized money market funds for
Speaker 1: investors who keep cash and stable coins rather than traditional
Speaker 1: bank accounts. The asset manager file paperwork for a digital
Speaker 1: share class tied to its six point one billion dollars
Speaker 1: black rocks select treasury based liquidity fund, which invests in cash,
Speaker 1: US Treasury bills, notes, and short term securities with maturities
Speaker 1: of ninety three days or less. The TOKENI shares are
Speaker 1: expected to run on the Ethereum blockchain alongside the funds
Speaker 1: existing share classes. The filing shows how major financial firms
Speaker 1: are moving closer to the stable coin economy as blockchain
Speaker 1: based markets continue to expand. Big move here by Blackrock,
Speaker 1: and they're going to continue to do more.
Speaker 2: Guys.
Speaker 1: The future of the markets, the economies, and governments will
Speaker 1: all run in blockchain rails and Larry thinking Blackrock has
Speaker 1: been showing us the blueprint all along. They were ahead
Speaker 1: of the curve, ahead of all of Wall Street. They
Speaker 1: were the first to launch a big twenty TF as
Speaker 1: well as among the Wall Street players, and as well
Speaker 1: as tokenizing, so the rest of the crowd followed after.
Speaker 1: So I think they're going to continue to lead to
Speaker 1: charge and innovate, and they are the world's largest asset
Speaker 1: manager closely tied to the government, so you want to
Speaker 1: watch what they're doing. This is incredible and again we're
Speaker 1: going to continue to see more and more of this.
Speaker 1: So very bullish news here for Etherorem, but we know
Speaker 1: there's not going to be one chain to rule them all. Blackrock.
Speaker 1: While they have launched on Etherorem, they've expanded to other
Speaker 1: chains as well, so it's going to be certainly a
Speaker 1: multi chain world. But very big news here, and expect
Speaker 1: the competitors to do the same. All right, guys, that's
Speaker 1: the news. Obviously. The big news is the charts and
Speaker 1: everything that's happening here and the Clarity markup. That's next week.
Speaker 1: So I think next week should be a big one.
Speaker 1: We could continue to see these all start to rally. Anyway, Guys,
Speaker 1: leave your thoughts and comments below, hit the thumbs up button.
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Speaker 1: thank you so much for tuning in. I appreciate you all,
Speaker 1: and I'll talk to you all later