Speaker 1: Hey, folks, welcome into the Thinking Crypto Podcast, your home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward.
Speaker 1: On your way in. Please hit that subscribe button as
Speaker 1: well as a thumbs up button and leave a common blow.
Speaker 1: If you're listening on a podcast platform such as Spotify
Speaker 1: or Apple, please leave a five star rating and review. Folks.
Speaker 1: We got some big updates around bitcoin. It had its
Speaker 1: highest weekly close in history at one hundred and nine
Speaker 1: two hundred dollars. Here's what analyst Matthew Hyland had to say.
Speaker 1: Bitcoin completes the highest weekly candle clothes ever. Bulls are
Speaker 1: in control. So this goes back to our thesis which
Speaker 1: we've been talking about for months now. Despite all the
Speaker 1: dumers and the people saying the market is over bear market,
Speaker 1: here it is. Right. We were saying, the bullmarket's still
Speaker 1: intac The on chain data, the macro, the technical analysis
Speaker 1: on the charts, all we're showing that the bullmarket was
Speaker 1: still intact despite fall latility, despite market pullbacks and crashes,
Speaker 1: right because the key support levels were not broken. Whales
Speaker 1: were still accumulating, Global liquidity was still rising. But you
Speaker 1: got to watch out for people who are just sharing
Speaker 1: sentiment because many of them are not looking at data
Speaker 1: and facts and the charts, and you want to make
Speaker 1: sure you're sticking to the data. So this is a
Speaker 1: very good sign for the continuation of the bull market.
Speaker 1: Now doesn't mean Bitcoin tomorrow is going to pump to
Speaker 1: one hundred and thirty thousand dollars in one week, of
Speaker 1: course not. We're gonna stare step our way out of
Speaker 1: the consolidation zone we've been in, and of course the
Speaker 1: market doesn't move in a straight line. We're gonna work
Speaker 1: our way up and then we'll hit a parabolic phase,
Speaker 1: just like we saw in Q four. We worked our
Speaker 1: way up and then all of a sudden, Bitcoin broke out,
Speaker 1: and then all coins followed, XRP, Solona, all these coins
Speaker 1: started moving. So if you're not a Bitcoin holder, it
Speaker 1: doesn't matter. You're still waiting for Bitcoin to make its move.
Speaker 1: We use bitcoin as the measuring stick, so we're waiting
Speaker 1: for that move. And this is a very good sign
Speaker 1: that we had the highest weekly close ever. Yeah, that's
Speaker 1: a bear market. That's what happens in bear market, if
Speaker 1: you get my sarcasm there, right, But guys, Bitcoin right
Speaker 1: now trading at one hundred and nine four hundred and
Speaker 1: thirty five dollars. So let's see what this week brings
Speaker 1: us as we continue to stare step our way out.
Speaker 1: We're waiting for bitcoin to break one hundred and twelve
Speaker 1: thousand dollars and then it will enterprise discovery once again.
Speaker 1: When you look at the higher timeframe of the weekly chart,
Speaker 1: still looks very bullish. Bitcoin's RSI on the weekly still
Speaker 1: shows room for upside here. We're not in the overbought zone.
Speaker 1: The mac D is still green, showing the bulls still
Speaker 1: have the momentum. Bitcoin dominance, even though it's consolidating sideways
Speaker 1: right now, has been on the rise, and I believe
Speaker 1: it's going to continue to rise to about seventy one percent,
Speaker 1: and we're going to see Bitcoin steal the show. Of course,
Speaker 1: where the liquidity is going to float to Bitcoin, it
Speaker 1: will pump to new highs. Then the rotational liquidity will
Speaker 1: take place, and of course, in order for it to
Speaker 1: do that, you need to see the tether dominant keep
Speaker 1: breaking down. So tether dominance had started breaking down since April,
Speaker 1: and we saw Bitcoin hit one hundred and twelve thousand
Speaker 1: as a result, and some all coins started waking up
Speaker 1: like ethereum and so forth. But then tether dominance has
Speaker 1: been moving sideways. Now this is speaking to the stable
Speaker 1: coin liquidity. We use it as a benchmark because we
Speaker 1: know a lot of the liquidity comes from tether, and
Speaker 1: once that enters the market, the assets pumped. So we're
Speaker 1: talking bitcoin and all coins. And as you can see
Speaker 1: here in Q four, we had a major breakdown even
Speaker 1: in Q one into the early innings of Q two
Speaker 1: the breakdown of the tether dominance, and that took us
Speaker 1: into a big rally. So patients is the key here.
Speaker 1: You gotta be patient. Things are playing out. The thesis
Speaker 1: is still intact here based on the data now, not
Speaker 1: our feelings, not our emotions, and we're gonna see that
Speaker 1: big rally, folks, But we got to go through the
Speaker 1: volatility and be patient. And here one analyst on x
Speaker 1: shared a chart analysis of the tether dominance saying, I
Speaker 1: compress this fractal and it fits better. Would mean that
Speaker 1: USDT dominance is about to have a very large move
Speaker 1: from now until late July. Crypto rips hard until late July,
Speaker 1: so we could see a major rally. There's no guarantees here,
Speaker 1: of course, because there are different factors that could change
Speaker 1: things around. Just look at what happened with the tariff
Speaker 1: situation and that big crash that pushed everything back the
Speaker 1: timeline pretty much. So let's see how this plays out.
Speaker 1: We're still early in July, and this rally that may
Speaker 1: start in the middle of July or so or late July,
Speaker 1: could bleed into August. Then maybe the latter half of
Speaker 1: August we see a correction, then a continuation sometime in
Speaker 1: September into October. Again, this is what we're looking at
Speaker 1: from the timeline and how the charts are moving. We'll
Speaker 1: have to update the thesis as things progress. But from
Speaker 1: the macro, the bull markets still intact, especially with global liquidity,
Speaker 1: and these things continue to rise. So I shared a
Speaker 1: couple of charts in my newsletter today and be sure
Speaker 1: to sign up for my newsletter. It's one hundred percent free.
Speaker 1: You can go review these charts in detail, and one
Speaker 1: of them is the total crypto market cap showing where
Speaker 1: we're at right now, and that using elliot wave analysis,
Speaker 1: we still have ways to go here with in the
Speaker 1: micro or the short term, a third wave which will
Speaker 1: take us to a peak come late July and into August,
Speaker 1: then a correction and then move up into Q four,
Speaker 1: so that will be the completion of the macro fifth wave.
Speaker 1: And again macro, so we're talking like the entire year
Speaker 1: and multiple years here. So you can see here the
Speaker 1: chart analysis and signals are aligning to there's more upside here.
Speaker 1: In addition, if you use a Fibonacci model for the
Speaker 1: total crypto market cap, which would take us to near
Speaker 1: ten trillion dollars, that would be a four point two
Speaker 1: three six extension that we have nowhere close there. So
Speaker 1: we got ways to go, folks, And as I've been
Speaker 1: preaching for NonStop, make sure you have a profit taking
Speaker 1: plan because there will be a bear market all bull
Speaker 1: markets n and a blow off top and then a
Speaker 1: deep correction. Now, will the correction that's coming up in
Speaker 1: the bear market this time around be as deep as
Speaker 1: the ones before? Probably not, because you have et apps
Speaker 1: and much more. However, all markets correct right, even the
Speaker 1: stock market, and let the tariff crash be an example
Speaker 1: to you. Black Swan events can happen, so make sure
Speaker 1: you have your plan and you know what you're doing now.
Speaker 1: One signal I often share with you guys for bitcoin
Speaker 1: is the pie cycle top indicator and that is nowhere
Speaker 1: closed to signaling. And this is one of the metrics
Speaker 1: we're going to look at closely as the prices continue
Speaker 1: to rise to get an idea where we're at. You know,
Speaker 1: earlier I mentioned bigcoin whales continue to accumulate, so data
Speaker 1: from Santaman showing on chain data while it's with ten
Speaker 1: or more coins continue to increase. You look at this
Speaker 1: charge here. I know some of you listening to the
Speaker 1: podcast can't see it, but trust me when I tell you,
Speaker 1: and I put it in my newsletter. By the way,
Speaker 1: we continue to see the rise here, and they are accumulating.
Speaker 1: When they are exiting the market, you see this number
Speaker 1: start to dip. And a clear indication of that was
Speaker 1: in Q two of twenty twenty four with the Bitcoin
Speaker 1: bider rum or sell the news event where bitcoin was
Speaker 1: super overheated. It had hit new highs ahead of the
Speaker 1: having there was a massive dump. This same chart showed
Speaker 1: the massive dumb and that correlated with the price pullback
Speaker 1: of course, So we're gonna watch all these things closely,
Speaker 1: so stick with me. Make sure you subscribe to the newsletter,
Speaker 1: your subscribe to the podcast. On the podcast networks on YouTube.
Speaker 1: You got the notification bell enabled because once again we
Speaker 1: want to walk away from this bull market with money
Speaker 1: in our pockets. Folks. Quick word from our sponsor, and
Speaker 1: that is Treasure. Treasure makes beautiful hardware walds that make
Speaker 1: it easy for you to safely store your crypto. I'm
Speaker 1: a user of the Treasure product. I use the Treasure
Speaker 1: Safe five device. Treasure was the first to pioneer crypto
Speaker 1: hardware wallets. They did the whole seed phrase setup. Their
Speaker 1: hardware walllets are open source. They've been at this since
Speaker 1: twenty thirteen, and they support a variety of tokens. I'm
Speaker 1: talking Bigcoin, XRP, Sowana, Ethereum, all your top tokens. And
Speaker 1: they have a great software called Treasure Suite which helps
Speaker 1: you to manage all your coins. And they also have
Speaker 1: a one on one service to help you on board.
Speaker 1: So let's say you buy the device, there's a service
Speaker 1: you can subscribe to where a Treasure representative will walk
Speaker 1: you through the process of setting up your account, setting
Speaker 1: up your device, and much more so. It's really great
Speaker 1: a handholding service because I know sometimes these things can
Speaker 1: be complex, but that's a great service to have and Folks,
Speaker 1: you can use the code thinking crypto all one word
Speaker 1: thinking Crypto to get five percent off your purchase of
Speaker 1: a device. So to learn more, check out Treasure. The
Speaker 1: link will be in the description. Now, folks, I'm sure
Speaker 1: many of you heard about this Elon Musk. He's been
Speaker 1: going through a whole political battle with President Trump and
Speaker 1: much more, and he's talking about creating a third political party,
Speaker 1: which would be the America Party. Now, someone asked him
Speaker 1: on X as he posted about the America Party. They said, Elon,
Speaker 1: will the America Party embrace bitcoin? He said, fiat is hopeless,
Speaker 1: So yes, wow. I don't know where this is going
Speaker 1: to go, but we know Elon is bullish on crypto.
Speaker 1: He personally holds bitcoin, Ethereum and dochcoin, Tesla holds bitcoin
Speaker 1: on his balance sheet. So I expect he's going to
Speaker 1: do a lot of updates to the X platform because
Speaker 1: he wants to make it an all in one app
Speaker 1: with finance and trading and and so forth. And I
Speaker 1: believe he's going to integrate blockchain and cryptos. So we'll
Speaker 1: keep an eye on this. So regardless of if you're
Speaker 1: a fan of Elon or not, that's not the point
Speaker 1: what we're looking at as investors is adoption and on
Speaker 1: all fronts, right, in all parts of the society, whether
Speaker 1: it be Wall Street, trad five culture, society, even politics. Right,
Speaker 1: So all of these dominoes are falling and cryptos getting
Speaker 1: penetration on multiple fronts. So this is all bullish in
Speaker 1: my opinion. Now, Eleanor Turd reported the following that this
Speaker 1: coming week there's going to be a hearing on Wednesday,
Speaker 1: specifically called making America the Crypto Capital of the World,
Speaker 1: focusing on building a twenty fourth century tax policy framework
Speaker 1: for digital assets. So this is outside the Clarity and
Speaker 1: Genius Act, which is the market structure and stable coin legislation, respectively.
Speaker 1: But apparently this is being postponed. It's going to be
Speaker 1: pushed back due to the Houses out of session this week.
Speaker 1: So the point is, though, this could be significant because
Speaker 1: they could open up possibly you know, some sort of
Speaker 1: tax benefits or crypto holders, maybe less capital gains tax right,
Speaker 1: maybe the ability to spend some of your crypto tax
Speaker 1: free without you know, hitting that tax penalty of conversion.
Speaker 1: So it's out of course, so let's see how this
Speaker 1: plays out. But boy, if they cut back on capital gains.
Speaker 1: I would love that, man. That would be amazing because
Speaker 1: I've often said capital gains taxes highway robbery by the
Speaker 1: US government or in governments in general. Because you take
Speaker 1: your already tax money, you go and invest it in
Speaker 1: an asset it appreciates, you take profits, and the government
Speaker 1: comes and takes a cut. You know what I mean.
Speaker 1: That's highway robbery by the government. Man. But this would
Speaker 1: be very interesting and very bullish in the market. And
Speaker 1: as I reported yesterday folks, and even in my newsletter today,
Speaker 1: Crypto Week, as the folks in the House Financial Services
Speaker 1: Committee are calling, it will be July fourteenth through the
Speaker 1: eighteenth where the three major bills will be reviewed, which
Speaker 1: is the Clarity Act, the Market Structure Bill, the Genius Act,
Speaker 1: the Stable Cooin Bill, and the Anti CBDC Surveillance Bill.
Speaker 1: So we are seeing Congress ramping up here towards crypto
Speaker 1: legend stations. So this is why if you step back
Speaker 1: and you look at all the puzzle pieces global liquidity,
Speaker 1: the charts, Bitcoin highest weekly close, what Congress is doing
Speaker 1: putting out the big banner out there Crypto week right,
Speaker 1: and we're seeing signs of a possible rally coming in
Speaker 1: you see all the puzzle pieces lining up here right,
Speaker 1: there's a narrative to go with maybe the rally, which is,
Speaker 1: you know, stable coin legislation gets passed. Remember stable coin
Speaker 1: legislation passing through the House, it goes straight to Trump
Speaker 1: now for signatures because it already passed in the Senate,
Speaker 1: so I believe it will make it quickly through the House,
Speaker 1: and the Clarity Act will. Once that passes the House,
Speaker 1: it has to go to the Senate. And as David
Speaker 1: Sachs had highlighted the last week of June that you
Speaker 1: know that's going to play more into September. So this
Speaker 1: is where again follow my timeline that I was sharing earlier.
Speaker 1: If you align the chart analysis here right with what
Speaker 1: the government is doing with crypto legislation, you see a
Speaker 1: rally into late July, correction into August, then a pump
Speaker 1: into maybe the second half of September, ends in October.
Speaker 1: That's something to keep in mind here, folks. So this
Speaker 1: is why you want to be an educated inform investor.
Speaker 1: Look at all aspects. You can't just have tunnel vision
Speaker 1: for the chart. You gotta look at the macro. You
Speaker 1: got to look at what the government's doing. You gotta
Speaker 1: look at global liquidity, you got to look at on
Speaker 1: chain data with the whales and much more. So that's
Speaker 1: what I'm trying to give you here, the full lay
Speaker 1: of the land, so we can be as educated as
Speaker 1: possible as to what this market's doing. Because we don't
Speaker 1: have a crystal ball, so we use the signals, the
Speaker 1: metrics and so forth that we have, and like I said,
Speaker 1: have that profit taking plan so you walk away from
Speaker 1: this bullmarket with money in your pocket. Just be prepared.
Speaker 1: This is the year, in my opinion, of the bullmarket
Speaker 1: blow off top and it may bleed into twenty twenty six. Again,
Speaker 1: I don't have a crystal ball, but just be prepared
Speaker 1: mentally and to know what your plan is. And I've
Speaker 1: got my plan written down and I'm starting to prepare
Speaker 1: to move coins around and you know, get ready for
Speaker 1: the rally and put my cell targets and all that jazz.
Speaker 1: You know. A tip, I'll give it to you guys.
Speaker 1: If things get really crazy, euphoric and greedy. Some exchanges
Speaker 1: may experience downtime due to traffic. So I set up
Speaker 1: accounts with all the major crypto exchanges uphold coin based
Speaker 1: cracking GEM and now you name it full kyc AML,
Speaker 1: full security in place, so that if I have problems
Speaker 1: with any exchange, I could just jump to the next
Speaker 1: if you know what I mean. So just be prepared
Speaker 1: with stuff like that. And in addition, you know, let's
Speaker 1: say you take profits and you're ready to transfer money
Speaker 1: to your bank, call your bank ahead so your transactions
Speaker 1: and things don't get run into roadblocks. Say hey, I'm
Speaker 1: transferring money from an exchange over to my bank account.
Speaker 1: Let them know and all that right. Obviously, what your
Speaker 1: tax implications are. Some of you are in different countries
Speaker 1: or different parts of the country, different income levels, so
Speaker 1: you need to make sure you're talking to an accountant
Speaker 1: and know what you're doing. I've already spoken to my
Speaker 1: accountant like, hey, expect this, you know, and I think
Speaker 1: the second half of this year, and you know, I'll
Speaker 1: update you as I take profits and what that looks
Speaker 1: like and what I should be holding or maybe paying
Speaker 1: upfront to the irs. Some people do that, right, and
Speaker 1: how I'm going to navigate that. So things to keep
Speaker 1: in mind, folks. We want to make sure we are
Speaker 1: well prepared because this is a once in a lifetime
Speaker 1: opportunity and you know there's the law of diminishing returns
Speaker 1: where you won't get the same return. As the market
Speaker 1: gets larger and matures, right, more liquidity will come in
Speaker 1: more buyers and so forth more holders. So even though
Speaker 1: I am anticipating more gains in twenty twenty eight to
Speaker 1: twenty thirty, as far as higher prices, I should say
Speaker 1: we won't see the same level of returns on certain
Speaker 1: coins right as they mature. But maybe newer coins you
Speaker 1: could see them pop off. But anyway, we don't want
Speaker 1: to get to have myself. Let's make some money in
Speaker 1: this cycle for us before we start planning for twenty
Speaker 1: twenty eight to twenty thirty. So, folks, let me know
Speaker 1: to think. Leave your thoughts and comments below hit the
Speaker 1: thumbs up button. A great way you can support me
Speaker 1: in the podcast is by subscribing to my free email
Speaker 1: news that are one hundred percent free. It's on Substack.
Speaker 1: Check out my book on Amazon. It's available in paperback
Speaker 1: and digital, and check out my course at Mycrypto course
Speaker 1: dot com. This is a comprehensive course that teaches you
Speaker 1: every aspect of crypto. Check it out, folks. Thank you
Speaker 1: so much for watching and listening. I appreciate you all,
Speaker 1: and I'll talk to you all later