Speaker 1: Hey, everyone, Welcome into the Thinking Crypto Podcasts. You're 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 thumbsup button and leave a comment below.
Speaker 1: If you're listening on a podcast platform such as Spotify
Speaker 1: or Apple, please be sure to follow and leave a
Speaker 1: five star rating. Okay, folks, we got to talk about
Speaker 1: bitcoin because it is only a few hundred dollars away
Speaker 1: from eighty thousand. At the time of recording, it's at
Speaker 1: seventy nine thousand, six hundred and fifty dollars. Earlier it
Speaker 1: went over to seventy nine hundred bucks. So what I've
Speaker 1: been seeing over the weekend is that bulls and bears
Speaker 1: have been battling from momentum. Because if you look at
Speaker 1: the chart, and we actually touched on this on Friday's podcast,
Speaker 1: that is the mac D on the daily chart flip
Speaker 1: bearsh Now it's at the cusp of flipping bullish. So
Speaker 1: it's really wild that this would be an epic fake
Speaker 1: out here for the bears if it flips back to bullish.
Speaker 1: And look right now, there's a small slither of a
Speaker 1: green candle forming on that macde and the lines are
Speaker 1: crossing here. So it's so fascinating. You know, Bitcoin's been
Speaker 1: in this rising channel. What we've been talking about for
Speaker 1: over two months guys, you know in my newsletter on
Speaker 1: the podcast, is that we are any relief rally with
Speaker 1: the potential to hit eighty thousand or above go to
Speaker 1: eighty five. Some analysts are saying we can go higher
Speaker 1: to near ninety thousand, but you know, the formation of
Speaker 1: this rising channel here for bitcoin is also forming a
Speaker 1: bear flag. But the one positive sign we saw is
Speaker 1: that bitcoin broke through the down trend trend line here
Speaker 1: right touching the ultimate top in October to the local
Speaker 1: top in January. It broke through that. So that's a
Speaker 1: positive sign. But of course, there are no guarantees. I
Speaker 1: always tell you guys, we're talking probabilities here, and markets
Speaker 1: can certainly fake us out. But that's a positive sign.
Speaker 1: And Bitcoin almost at the cusp of hitting eighty thousand
Speaker 1: dollars what looks like tonight. You know, that gives a
Speaker 1: strong indication it could go a bit higher, possibly going
Speaker 1: to eighty four eighty five. Again some analysts calling for higher,
Speaker 1: but I think with the CME gap being between eighty
Speaker 1: two to eighty four. You know, we could go touch
Speaker 1: those prices for sure and fill the gap and then
Speaker 1: roll over. Now, as I've been saying, I think this
Speaker 1: is just a relief rally. I don't think this is
Speaker 1: a move to new all time high. You look at
Speaker 1: the RSI and the daily chart, it is approaching the
Speaker 1: overbought zone. It is not there yet, but it's nearing it.
Speaker 1: So you know, could Bitcoin rally to eighty two ish,
Speaker 1: eighty three, eighty four and then hit the overbought zone
Speaker 1: then rollover? Yeah, it's possible. And of course on the downside,
Speaker 1: you know, could it just go back and test the
Speaker 1: lows of February where we hit fifty eight K that's
Speaker 1: possible or go lower? Right that, we can't rule that out,
Speaker 1: especially if you believe in the Fourier cycles, which are
Speaker 1: still playing. They haven't been invalidated, so we're gonna have
Speaker 1: to wait and see it again. It's all probabilities. You're
Speaker 1: gonna see in the common section people who are bearish
Speaker 1: and're gonna say you're an idiot. Bitcoin is not going
Speaker 1: to eighty four. Then you're gonna see people in the
Speaker 1: bullish side you're gonna say, biccin's not gonna roll over
Speaker 1: to fifty acre fifty You're an idiot, right. So people
Speaker 1: have their bias and they get emotional, right, But we
Speaker 1: want to look at all scenarios and look at which
Speaker 1: one has the higher probability of playing out, Because it's
Speaker 1: all probabilities. We don't have a crystal ball. But at
Speaker 1: least we're seeing some good price action here, and the
Speaker 1: higher Bitcoin goes that's very good for all. I think
Speaker 1: we have a mini rally with all coins as well.
Speaker 1: So let's hope the bullish scenario plays out of going
Speaker 1: as high as possible around ninety k before some sort
Speaker 1: of pullback. But if it does go to that level,
Speaker 1: you know, I honestly think that means the bottom has
Speaker 1: been put in because if Bitcoin does correct from that,
Speaker 1: I don't think it's going on a fifty k honestly,
Speaker 1: but if it corrects them here, there's certainly potential for
Speaker 1: it to go to the fifty k's range. But again,
Speaker 1: ultimately we'll have to wait and see. I am bullish
Speaker 1: long term, so regardless of what happens in the short
Speaker 1: and near term, long term, I am super bullish. I
Speaker 1: believe we're gonna hit new all time highs potentially later
Speaker 1: this year, if not into twenty twenty seven. So let's
Speaker 1: see how it all plays out. But this is good.
Speaker 1: And you know, here's one analyst who highlighted the same
Speaker 1: trend line again from the peak to the local top
Speaker 1: in January to bigcoin breaking through. That that's a very
Speaker 1: good sign. And you know, some analysts are saying, hey,
Speaker 1: maybe we top out at around eighty four k, but
Speaker 1: then it could build a bullish momentum where people think,
Speaker 1: oh that's it, beer market's over, and then we rally,
Speaker 1: you know, more people come in and it rallies up
Speaker 1: to ninety k or higher. So we'll have to wait
Speaker 1: and see how this all plays out. One of the
Speaker 1: things I've been telling you guys to pay attention to
Speaker 1: is the stock market. Both the S and P five
Speaker 1: hundred and the NASTAC are in the over bought zone.
Speaker 1: The RS side and the MACD. While it looks like
Speaker 1: bulls are losing momentum, they're still in control part of
Speaker 1: mac D. So if the stock market keeps holding up,
Speaker 1: that's very good for bitcoin and the crypto market. So
Speaker 1: we shall see. Look, the stock market is less volatile
Speaker 1: and it can stay the overbod zone for a long time.
Speaker 1: We've seen that if you go look at the historical charts,
Speaker 1: it just chops sometimes right at that overbod zones, almost
Speaker 1: like it doesn't care about it, right because there's so
Speaker 1: much liquidity, there's so much volume, it's hard to bring
Speaker 1: it down, so to speak. It takes kind of big
Speaker 1: events like wars or terrorists and things that get to
Speaker 1: really make it correct significantly. But you can see that
Speaker 1: perfect V shape recovery happening in the S and P
Speaker 1: five hundred as well as the NASDAC. So this is interesting.
Speaker 1: Let's see, this week could be very big for bitcoin again,
Speaker 1: blasting through eighty K and then all coins follows. So tonight,
Speaker 1: honestly you could break eighty K tonight and then maybe
Speaker 1: goes up to eighty five k, then rolls over. We
Speaker 1: shall see. But I'll be taking a little bit of
Speaker 1: profits here and there are nothing major and they're not
Speaker 1: buying back if we go lower. But regardless, I'm a
Speaker 1: long long term bull. I am looking for higher prices.
Speaker 1: Of course. Okay, we got some big news. Taiwanis legislator
Speaker 1: formally submits bitcoin reserves proposal calling for a portion of
Speaker 1: Taiwan's six hundred and two billion dollars in foreign exchange
Speaker 1: reserves to be allocated to bitcoin as a strategic asset. Now,
Speaker 1: we just heard last week at the Bitcoin Conference from
Speaker 1: Patrick Wit, the White House crypto advisor, that we're going
Speaker 1: to get an announcement from the Trumpe administration in the
Speaker 1: coming weeks around bitcoin or the bitcoin reserve. So I
Speaker 1: don't know what that update is. Maybe they found a
Speaker 1: revenue neutral way to buy bitcoin in addition to pulling
Speaker 1: the bitcoin they have seized over the years some different
Speaker 1: government agencies. So let's see. But nevertheless, the moment that
Speaker 1: the United States decided to do this, it kicked off
Speaker 1: a game theory play out here among these countries, and
Speaker 1: you're seeing more and more countries looking to establish a
Speaker 1: bitcoin reserve. As always, it starts a bitcoin, they're going
Speaker 1: to add other crypto assets. So let's see how this
Speaker 1: plays out. But this is very bullish. Now Blackrocks European
Speaker 1: Bitcoin ETP crosses one point one billion dollars in assets
Speaker 1: under management with fourteen two hundred bitcoin accumulated. Many of
Speaker 1: you know Blackrock has the largest bigcoin ETF here in
Speaker 1: the United States and I think even the whole world.
Speaker 1: And it was the fastest growing ETF in the history
Speaker 1: of ets, which is insane. Now they're trying to grow
Speaker 1: their European ETF. Now they call it ETP, but it's
Speaker 1: the same thing. So if Blackrock is buying and they're
Speaker 1: pushing this all around the world, I'm bullish, guys, I
Speaker 1: am bullish, and I think as we come out of
Speaker 1: this bear market, we're going to see a lot more
Speaker 1: capital come into the markets. And in today's ETFs and
Speaker 1: what crypto legislation being passed, I've been saying, it kicks
Speaker 1: off the super cycle, and this is where you've got
Speaker 1: to have the long term view and make sure you
Speaker 1: are patient and much more. Here's some more Blackrock news.
Speaker 1: Blackrock urges OCC to drop tokenized reserve cap IDEA expand
Speaker 1: eligible assets in Genius Act comment letter. So Blackrock, we
Speaker 1: know they are all in on tokenization and crypto. Larry Fink,
Speaker 1: he's been a huge advocate, going out there promoting it
Speaker 1: and much more so. Blackrock filed a comment letter Friday
Speaker 1: urging the OCC to scale back several proposed reserve asset
Speaker 1: restrictions in its draft rules implementing the Genius Act. The
Speaker 1: world's largest asset manager oppose a potential twenty percent cap
Speaker 1: on tokenized reserve assets, a constraint that would limit products
Speaker 1: like Biddle Fund, which is BlackRock's money market fund tokenized
Speaker 1: money market fund, which backs more than ninety percent of
Speaker 1: Athena's USDTB, and Jupiter's jup USD. Blackrock also asked the
Speaker 1: agency to confirm that Treasury ETFs qualify as reserves and
Speaker 1: to add two year Treasury floating rate notes to the
Speaker 1: eligible asset list. Now, if Blackrock wants it, most likely
Speaker 1: you're going to get it, guys, because they've got the
Speaker 1: power of the influence. If you know who Blackrock is,
Speaker 1: the world's wealthiest acid manager. How they've worked with the
Speaker 1: US government, especially coming out of two thousand and eight
Speaker 1: crash and even after the COVID pandemic, and much more
Speaker 1: so Blackrock, you know, trying to expand as much as
Speaker 1: possible and trying to get the regulators to loosen up
Speaker 1: some of their restrictions. Here and speaking of tokenization, the
Speaker 1: New York Stock Exchange Files rule change to enable tokenized
Speaker 1: securities trading the New York Stock Exchange File. They propose
Speaker 1: rule change with the SEC to allow tokenized versions of
Speaker 1: eligible equities and ETFs to trade on the exchange. Under
Speaker 1: DTC's three year tokenization pilot program, eligible tokenized securities must
Speaker 1: share the same CUSIP ticker rights and privileges as their
Speaker 1: traditional counterparts, and we'll trade on the same order book
Speaker 1: with the same execution priority, while clearing and settlement remained
Speaker 1: through DTC on a T plus one basis. So, guys,
Speaker 1: you see the infrastructure being built here by stock exchanges,
Speaker 1: the biggest institutions in the world, banks, and much more.
Speaker 1: They're going all in on crypto. They're going all in
Speaker 1: on tokenization and blockchain tech and much more. So. Again,
Speaker 1: if these guys want it, they're going to get it.
Speaker 1: They are the powerhouses, you know, the trad five powerhouses
Speaker 1: that have existed for a long time, have huge influence
Speaker 1: even on the agencies and Congress and much more. And
Speaker 1: here's another example. Morgan Stanley's Oldenburg says bitcoin and US
Speaker 1: bank balance sheet is coming, just not yet. So I
Speaker 1: think once the Clarity Acts passed, we shall see it.
Speaker 1: Remember Morgan Stanley, they just recently launched their bitcoin ETF.
Speaker 1: So Morgan Stanley's SMBT pulled in over one hundred million
Speaker 1: dollars in its first six days, entirely through self directed channels,
Speaker 1: before the product was even available through at financial advisors.
Speaker 1: So MSBT is their Bitcoin ETF. Despite a formal two
Speaker 1: to four percent bitcoin allocation recommendation, advisor adoption remains slow,
Speaker 1: pointing to a significant education gap that Morgan Stanley is
Speaker 1: now working to close internally. Amy Oldenberg didn't rule out
Speaker 1: Morgan Stanley eventually holding bitcoin on its balance sheet, but
Speaker 1: warned that FED guidance, basil rules, and global regulations mean
Speaker 1: the road is longer than many expected. So again, once
Speaker 1: they have all the regulations in place, you got the FED,
Speaker 1: the FDIC, the Clarity Act in place, the basal rules,
Speaker 1: and all these things are in place, these guys are
Speaker 1: gonna go ham. They're gonna put trillions into this asset class.
Speaker 1: It's not just gonna be Bitcoin, It's going to be
Speaker 1: in many different forms, stable coins, tokenization, all coins as well.
Speaker 1: So this is where again I'm long term bullish because
Speaker 1: there's still the buildings still happening, and the construction of
Speaker 1: the infrastructure is still happening, and all the naysayers have
Speaker 1: bent the Knee Right, Vanguard, Morgan Stanley, which was late.
Speaker 1: They're all here, so there's no one left. There's no
Speaker 1: detractors anymore. They're all here. Even if they have to
Speaker 1: be dragged, kicking and screaming to get into this, they're
Speaker 1: going to do it because if you get left behind,
Speaker 1: you're done. Right. Think about what happened to Blockbuster fail
Speaker 1: to adapt to the Internet. Netflix came along, took their lunch,
Speaker 1: Blockbuster went bankrupt. Netflix now a powerhouse, right, So there's
Speaker 1: many examples of that. So I think many of these
Speaker 1: firms recognize, Hey, we got to get on board here. Okay, folks.
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Speaker 1: turning blockchain into Wall Street's new plumbing Figures one billion
Speaker 1: dollar month capped a years long push to strip out
Speaker 1: middleman from credit markets, bringing real world assets, lending, and
Speaker 1: even equities on chain. So Figure topped one billion dollars
Speaker 1: in monthly loan originations in March for the first time,
Speaker 1: validating its tokenized credit marketplace. CEO Mike Cagley said he
Speaker 1: is using blockchain to cut out into mediaries across securitization,
Speaker 1: lending and stock barring new products from DeFi credit vaults,
Speaker 1: to tokenize equities, aim to democratize access to yield. So
Speaker 1: it's incredible that these guys are now here. A lot
Speaker 1: of trat FI guys like Mike and they're building with
Speaker 1: blockchain tech and they're building unique financial products right, a
Speaker 1: lot of barring and lending DeFi credit and much more so.
Speaker 1: I mean this is this doesn't surprise me. But you know,
Speaker 1: if you don't realize what's happening, all the trat FI
Speaker 1: guys are jumping on board, you're missing it. Right, this
Speaker 1: is news you need to share with, you know, people
Speaker 1: who are naysayers, who still don't understand what's being built here.
Speaker 1: And again it's not so much about the price of
Speaker 1: the assets. It's the building and the infrastructure being set
Speaker 1: up for more capital to come in, more participation, more
Speaker 1: adoption that will lead to higher prices eventually. So very
Speaker 1: bolish here. This is a wild piece of news. AI
Speaker 1: Agent forms its own company, gets ready to trade crypto.
Speaker 1: What a headline, man, this is pretty crazy. Let me
Speaker 1: give it to details. Clawbank and its Manfred. AI Agent
Speaker 1: has autonomously formed its own corporation in the US, obtaining
Speaker 1: an IRS employer Identification number and FDIC insured bank account
Speaker 1: and a crypto wallet Manfred, which runs its own X
Speaker 1: account under the persona Manfred. MacX is designed to trade
Speaker 1: crypto and can already transact in more than thirty cryptocurrent
Speaker 1: moving funds between its bank account, and digital wallet. The
Speaker 1: project is being framed as an early example of AI
Speaker 1: agents acting as independent economic actors, echoing predictions from the
Speaker 1: crypto and AI leaders that autonomous agents will soon dominate
Speaker 1: online and crypto transactions. Now, I'm a big believer in
Speaker 1: AI agents that that economy is going to be huge.
Speaker 1: Many of you may be able to create your own
Speaker 1: AI agents to do things. I'm personally researching that and
Speaker 1: looking at how I can do that, you know, both
Speaker 1: for personal things as well as for the podcast, how
Speaker 1: it can help you as my viewers and listeners and
Speaker 1: you know, provide benefits to you guys. So these are
Speaker 1: things I'm looking into. But they are going to be
Speaker 1: many different AI agents created, some for trading and investing, right,
Speaker 1: So it's going to be in every sector, and we've
Speaker 1: talked a lot about it, guys. They're going to be
Speaker 1: running on blockchain rails, they're going to use stable coins
Speaker 1: and digital currency. They're not going to be using cash obviously,
Speaker 1: so this will be pretty big, and many of them
Speaker 1: will have their own crypto wallets. In fact, many wallet
Speaker 1: creators are now, you know, setting up the infrastructure for
Speaker 1: AI agents, So it's gonna be wild guys, just imagine
Speaker 1: in ten years, as crypto gets legislation, AI gets legislation,
Speaker 1: and you have all these things running in the economy,
Speaker 1: It's going to be really wild. Not to mention, you
Speaker 1: have humanoid robots, and I believe blockchain is going to
Speaker 1: be used to help control humanoid robots that they don't
Speaker 1: get hacked and so forth. In addition to'll have crypto wallets.
Speaker 1: I've interviewed some folks who are already doing that, where
Speaker 1: they built crypto wallets into robots. So it's so fascinating
Speaker 1: but crazy that this AI agent formed its own company,
Speaker 1: got all the licenses and it's ready to trade crypto.
Speaker 1: So fascinating. Anyway, Guys, that's the news. Let me know
Speaker 1: what you think. Leave your thoughts in comments below, hit
Speaker 1: the thumbs up button subscribe if it happen as yet, guys,
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Speaker 1: I'll be putting out a write up tomorrow because again
Speaker 1: it's an important week, so we want to look at
Speaker 1: different charts, so make sure you are signed up. It's free.
Speaker 1: Be sure to grab a copy of my book on Amazon.
Speaker 1: It's available in paperback, in digital and if you want
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Speaker 1: the description. Folks, thank you so much for tuning in.
Speaker 1: I appreciate you all, and I'll talk to you all
Speaker 1: later