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: If you're listening on a podcast platform such as Spotify
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Speaker 1: sure to follow. Okay, folks, we are seeing some great
Speaker 1: price action from bitcoin. Bitcoin currently sitting at over seventy
Speaker 1: two thousand dollars right now, so we've broken out of
Speaker 1: that consolidation zone we've been in. I coverted over the
Speaker 1: past few weeks that we're waiting for the start of
Speaker 1: the relief rally. This appears to be the start. However,
Speaker 1: we have to be cautiously optimistic because markets can fake
Speaker 1: us out, especially in a broader bear market. So we
Speaker 1: can see certainly bull rallies relief rallies in a bear market,
Speaker 1: but of course you're not going to take us to
Speaker 1: new all time highs. So I'm looking at a target
Speaker 1: of about eighty to eighty five thousand for bitcoin. It
Speaker 1: could overshoot and go to ninety k, so we're gonna
Speaker 1: have to be patient and see what the market gives us.
Speaker 1: The positive signs we're seeing is of course the price action,
Speaker 1: but of course the RSI, as I've been highlighting, has
Speaker 1: been moving away from the over soul zone and there's
Speaker 1: still room for it to run before it becomes overbought.
Speaker 1: Not to mention, the MACD shows the bulls are in control.
Speaker 1: This is per the daily chart. If you look at
Speaker 1: the weekly chart, it looks like the bears are losing
Speaker 1: momentum here per the MACD, and there's a green candle
Speaker 1: forming on the weekly chart. Plus the RSI is moving
Speaker 1: away from the over soul zone. And if you look
Speaker 1: at the USDT dominance, that is breaking down, so that
Speaker 1: means the stable coin liquidity it's tarning to make its
Speaker 1: way into the market. Hence you have the inverse correlation.
Speaker 1: So the RSI for USDT dominance is falling, but not
Speaker 1: in the over soul zone. And of course it's collapsing
Speaker 1: here on the chart. So these are positive signs showing
Speaker 1: us this rally should continue. The question is how high.
Speaker 1: As mentioned earlier, and if we look at the total
Speaker 1: all coin market cap excluding bitcoin, ether and stable coins,
Speaker 1: we're seeing a little bit of uptick. I do believe
Speaker 1: all coins are gonna follow bitcoins move and outperform Bitcoin
Speaker 1: as they typically do, but we're gonna have to be patient.
Speaker 1: Bitcoin's gonna have to make its move. Bitcoin dominance is
Speaker 1: rising right now, and then I believe all coins will
Speaker 1: catch up. On the daily chart for the total three
Speaker 1: again similar to Bitcoin, the RT size moving away from
Speaker 1: the over soul zone but still has room to run
Speaker 1: before it becomes overbought, and the mac D shows bulls
Speaker 1: are in control. So these are all great signs guys,
Speaker 1: and once again not a move to new all time highs.
Speaker 1: And we do need to be cautiously optimistic because in
Speaker 1: this environment, with the macro factors of the Iran war
Speaker 1: and all these things going on, you never know what
Speaker 1: news may come and then trigger a dump right and
Speaker 1: invalidate everything here. So we're gonna take it one step
Speaker 1: at a time. But we are seeing some very positive signs,
Speaker 1: you know, as far as accumulation by the whales, we're
Speaker 1: seeing a bit of an uptick here after retail started
Speaker 1: slowing down. So data from Santaman is showing that whale
Speaker 1: wallets are starting to pick up and a retail they're
Speaker 1: calming down, so that inverse correlation is what you want
Speaker 1: to see, right, We'll have to keep monitoring this and
Speaker 1: see how it plays out in the coming weeks. We
Speaker 1: are seeing bitcoin ETF inflows start to rise again, so
Speaker 1: US spot bitcoin ETFs at two hundred and twenty five
Speaker 1: million dollars as black rocks, ibid offsets, redemptions, So all
Speaker 1: good signs. So let's be patient and see where the
Speaker 1: market takes is. But I'm happy that we are seeing
Speaker 1: some upward movement. Now, folks, we have huge crypto news.
Speaker 1: First up, Kraken Crypto Exchange wins a Kansas City FED
Speaker 1: approval for limited master account access. This is the first
Speaker 1: crypto company to get a FED master account. If you recall,
Speaker 1: Kaitlin Long and folks at her bank were trying to
Speaker 1: get this and they were roadblocked. And now we're starting
Speaker 1: to see the approval. Other folks who have applied as well,
Speaker 1: I think Ripple and many others. So this is credible
Speaker 1: and it's funny. It comes a couple of days after
Speaker 1: Jamie Diamond said, you know, these crypto companies want to
Speaker 1: offer stable coe yield, they should become banks. Here you go, right,
Speaker 1: here you go, Jamie. It started. So this is incredible.
Speaker 1: Let me give it to details. So US cryptocurrency exchange
Speaker 1: Kraken's banking unit has been granted a limited purpose Master
Speaker 1: account by the US Federal Reserve Bank of Kansas City,
Speaker 1: giving it direct access to the fed's core payment system.
Speaker 1: In the first for the crypto industry, Kracken Financial, the
Speaker 1: exchange's banking unit has gained access to the fed's payment
Speaker 1: system fed Wire, allowing it to move money on the
Speaker 1: same rails used by banks and credit unions. According to
Speaker 1: the announcement on Wednesday, the Federal Reserve Bank of Kansas
Speaker 1: City approved a limited purpose account for Wyoming based Payword Financial.
Speaker 1: As a Tier three entity with a Federal Reserve Master account,
Speaker 1: we can operate not as a peripheral participant in the
Speaker 1: US banking system, but as a directly connected financial institution.
Speaker 1: Kraken co CEO or June Sethi said, the approval gives
Speaker 1: the exchange the ability to settle directly on FED Wire,
Speaker 1: reduce dependency on correspondent banks, and integrate Fiat liquidity into crypto.
Speaker 1: He added, folks, this is so bullish, and again this
Speaker 1: is just the tip of the iceberg. We're going to
Speaker 1: see other companies get approved so crypto exchanges and platforms
Speaker 1: and companies plugging into the FED just like trad FI institutions.
Speaker 1: So again I hope you see the direction to puck
Speaker 1: is heading in. We are now getting these approvals right,
Speaker 1: and by the time the bull market rolls around with
Speaker 1: crypto legislation pass, all of these rails set up right,
Speaker 1: plugged into the system, trillions will come into the ACID
Speaker 1: class and you're going to see more tokenization, more stable coins,
Speaker 1: and much more. And of course that is going to
Speaker 1: drive the value of the blockchains they're being built on
Speaker 1: a higher plus their native token. So this is where
Speaker 1: you've got to have the macro view and don't miss
Speaker 1: how significant this is. This is incredibly, incredibly bullish news.
Speaker 1: Now here's some more bolish news. Morgan Stanley taps coinbase
Speaker 1: and b and y Melon for custody in proposed bitcoin ETF.
Speaker 1: So Morgan Stanley and the likes of Vanguard went from
Speaker 1: naysayers and haters to now we're gonna file for our
Speaker 1: own ETFs. This is amazing, guys. The dominoes are following
Speaker 1: big capitulation here. So the Morgan Stanley Bitcoin Trust plants
Speaker 1: to storage bitcoin with coin based custody and Bank of
Speaker 1: New York Melon, with B and Y also serving as administrator,
Speaker 1: transfer agent, and cash custodium. So the filing outlines a
Speaker 1: custody structure designed to mirror traditional institutional standards. Bitcoin will
Speaker 1: largely be held in offline cold storage vaults where private
Speaker 1: keys remain disconnected from the Internet to reduce hacking risks.
Speaker 1: A portion of the assets may temporarily move to trading
Speaker 1: wallets during ETF cre creation or redemption activity. The trust
Speaker 1: notes that custody insurance exists, but it is shared across
Speaker 1: customers and may not cover all potential losses. So folks,
Speaker 1: as always, it starts a Bitcoin and they're going to
Speaker 1: go to all coins. Watch after maybe three to four
Speaker 1: months they go to eth XRP, Soalana and much more. So.
Speaker 1: This is a massive, massive on rep that's going to
Speaker 1: bring a lot of capital into the market. So all
Speaker 1: the major bank, stock exchanges, and investment firms are all
Speaker 1: getting involved in crypto. There's none left. There's a naysayers left, right.
Speaker 1: It is now foolish if you don't have a crypto strategy.
Speaker 1: It used to be taboo to even talk about crypto.
Speaker 1: Now you better have a strategy. You better offer this
Speaker 1: because this is the direction that Puck is heading in.
Speaker 1: And here's another example of bank adoption of crypto. So Canada,
Speaker 1: Scotia Bank launches multi crypto ETF with three IQ, the
Speaker 1: bank's asset manager and three IQ debut and actively manage
Speaker 1: crypto ETF to Canadian users, offering exposure to Bitcoin, Ether, Solana,
Speaker 1: and XRP at a competitive zero point two five percent fee.
Speaker 1: So banks across the globe all investing in crypto. Now, folks,
Speaker 1: a great option for you to invest in crypto is
Speaker 1: via an IRA. Why you get huge tax benefits. So
Speaker 1: if you have a long term view on crypto, even
Speaker 1: gold and silver, you can use I Trust Capital's IRA
Speaker 1: to invest in those acid classes. So once again you
Speaker 1: can get access to not only crypto such as bitcoin, XRP,
Speaker 1: theorem and you name it right. They have over eighty
Speaker 1: crypto assets, but also gold and silver which have been
Speaker 1: performing incredibly well. So again huge tax advantages for doing this.
Speaker 1: You can buy, sell and trade crypto twenty four to
Speaker 1: seven along with gold and silver. It's low cost, no
Speaker 1: monthly fees, and folks, the gold and silver they offer
Speaker 1: it is fully redeemable, meaning you if you want to
Speaker 1: get the physical bars or you know the amount of
Speaker 1: goal that you have, you can do that. This is
Speaker 1: not paper, gold or silver, so that's one of the
Speaker 1: things that makes this platform unique. And if you have
Speaker 1: an existing I e. Ray or four to one K,
Speaker 1: you can roll it over to I Trust Capitalist version.
Speaker 1: And they also offer a great custody option, so they
Speaker 1: use institutional grade crypto custody, so they use coin based prime,
Speaker 1: fireblocks fidelity digital assets, and we know that black Rock
Speaker 1: uses coin based prime. So you're getting the tier one
Speaker 1: level custodial services and second to self custody. I believe
Speaker 1: this is the safest way of custodying your assets. You
Speaker 1: can sleep at night, and it has a closed loop
Speaker 1: system so even if someone hacks into your account, they
Speaker 1: cannot withdraw funds. So I have an account with them. Guys,
Speaker 1: you can definitely check out these two services. They're really
Speaker 1: great and the custody solution is of course low fees,
Speaker 1: so this is a great grade option to invest in crypto,
Speaker 1: especially if you have that long term view. And folks,
Speaker 1: if you use my link, you can get at one
Speaker 1: hundred dollars funding bonus, so go check out I Trust
Speaker 1: Capital sign up for an account. The link will be
Speaker 1: in the description. Okay, folks, big news from Western Union.
Speaker 1: They are teaming up with Crossmen to support their USDPT
Speaker 1: stable coin on the Salona blockchain. Now I know, I
Speaker 1: promised I was going to publish my interview with the
Speaker 1: VP of Digital Assets at Western Union today. Unfortunately I
Speaker 1: had to make a small edit to that interview. There
Speaker 1: was some incorrect information in there, but it will be
Speaker 1: published tomorrow, I promise. I give you my word so
Speaker 1: you don't want to miss that interview to hear from
Speaker 1: one of the largest payment companies, one of the oldest
Speaker 1: now adopting blockchain stable coin technology. Folks, It's amazing the
Speaker 1: paradigm shift we are seeing. So let me give it
Speaker 1: to details here. So Crossman has partnered with Western Union
Speaker 1: to support the launch of the remittance companies USDPT stable
Speaker 1: coin and its new digital asset network on the Salona blockchain. Wednesday.
Speaker 1: Announcement said the collaboration will integrate Crossman's wallet and payment
Speaker 1: APIs with Western Union's infrastructure, allowing fintech firms to move
Speaker 1: funds using the stable coin and connect to Western Union's
Speaker 1: global payout network. The digital asset network is intended to
Speaker 1: link stable coins with the company's existing pout infrastructure, enabling
Speaker 1: users to convert digital dollars into local currency through its
Speaker 1: network of more than three hundred and sixty thousand cash
Speaker 1: pickup locations worldwide. This is incredible. This is new as
Speaker 1: you need to send to cryptosceptics and naysayers and fudsters, right, people, Oh,
Speaker 1: it's all scam, right, they just read headlines, they don't
Speaker 1: actually educate themselves. Send this to them and make sure
Speaker 1: you highlight that this company's launching its own stable coin.
Speaker 1: They're doing it on a public blockchain, Salona, which they
Speaker 1: can invest in the Soul token, right, but they can
Speaker 1: also see the benefits if they're using Western Union of
Speaker 1: the movement of stable coins, for faster settlement, cheaper fees
Speaker 1: and all those things. So incredible, incredible things happening, folks.
Speaker 1: This is why I'm bowl as from a macro perspective. Okay,
Speaker 1: moving ahead, trade web backs, crypto ECN crossover markets in
Speaker 1: thirty one million dollar funding round, so we continue to
Speaker 1: see investments being made, expansions, mergers, acquisitions, and so forth.
Speaker 1: So let me give it to details. So Electronic Trading
Speaker 1: Company trade Web has led a thirty one million dollars
Speaker 1: Series B funding round in institutional crypto trading platform crossover markets,
Speaker 1: valuing the company at two hundred million dollars. The round
Speaker 1: included participation from DRW Venture Capital, Ripple, Virtue Financial, Winter
Speaker 1: med Ventures, Illuminate Financial, and XTX markets. According to Wednesday's announcement,
Speaker 1: the deal also includes a strategic partnership that will allow
Speaker 1: trade webs clients to access spot crypto liquidity through crossovers
Speaker 1: cross x Electronic Communication Network, marking the company's entry into
Speaker 1: institutional cryptocurrency trading and linking its global network of institutional
Speaker 1: traders with digital asset markets. The on rams being built here, folks,
Speaker 1: for more capital, come in. I hope you recognize what's happening.
Speaker 1: I know we are all concerned about price. Price will
Speaker 1: catch up, guys, and there's a cyclical pattern to that,
Speaker 1: and obviously there's macro factors and things like that. But eventually,
Speaker 1: if you're patient enough, the market's rebound and we'll go
Speaker 1: to new highs. All right, folks, that's the news, really
Speaker 1: big stuff, and let's hope the relief rally continues with
Speaker 1: Bitcoin going as high as possible and all coins following.
Speaker 1: I would love to hear what you guys think. Leave
Speaker 1: your thoughts and comments below hit the thumbs up button
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Speaker 1: It's available in paperback in digital. And check out my
Speaker 1: course at mycryptocurse dot com. This is a com coprehensive
Speaker 1: course that teaches you everything you need to know about crypto.
Speaker 1: It is packed with tons of videos, write ups, and
Speaker 1: tons of material you can go at your own pace.
Speaker 1: So knowledge is powers to expand your knowledge about these
Speaker 1: technology and acid class guys. So go to Mycrypto course
Speaker 1: dot com. All the links will be in the description.
Speaker 1: Thank you so much for tuning in everyone. I appreciate
Speaker 1: you all and I'll talk to you all later