WEBVTT

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<v Speaker 1>Hey everyone, Welcome into the Thinking Crypto podcast. You're home

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<v Speaker 1>for cryptocurrency news and interviews. I'm your host, Tony Edward

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<v Speaker 1>on your weight in. Please hit that subscribe button as

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<v Speaker 1>well as a thumbsup button and leave a comment below.

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<v Speaker 1>If you're listening on a podcast platform such as Spotify

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<v Speaker 1>or Apple, please leave a five star rating and be

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<v Speaker 1>sure to follow. Okay, folks, we are seeing some great

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<v Speaker 1>price action from bitcoin. Bitcoin currently sitting at over seventy

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<v Speaker 1>two thousand dollars right now, so we've broken out of

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<v Speaker 1>that consolidation zone we've been in. I coverted over the

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<v Speaker 1>past few weeks that we're waiting for the start of

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<v Speaker 1>the relief rally. This appears to be the start. However,

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<v Speaker 1>we have to be cautiously optimistic because markets can fake

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<v Speaker 1>us out, especially in a broader bear market. So we

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<v Speaker 1>can see certainly bull rallies relief rallies in a bear market,

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<v Speaker 1>but of course you're not going to take us to

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<v Speaker 1>new all time highs. So I'm looking at a target

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<v Speaker 1>of about eighty to eighty five thousand for bitcoin. It

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<v Speaker 1>could overshoot and go to ninety k, so we're gonna

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<v Speaker 1>have to be patient and see what the market gives us.

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<v Speaker 1>The positive signs we're seeing is of course the price action,

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<v Speaker 1>but of course the RSI, as I've been highlighting, has

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<v Speaker 1>been moving away from the over soul zone and there's

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<v Speaker 1>still room for it to run before it becomes overbought.

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<v Speaker 1>Not to mention, the MACD shows the bulls are in control.

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<v Speaker 1>This is per the daily chart. If you look at

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<v Speaker 1>the weekly chart, it looks like the bears are losing

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<v Speaker 1>momentum here per the MACD, and there's a green candle

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<v Speaker 1>forming on the weekly chart. Plus the RSI is moving

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<v Speaker 1>away from the over soul zone. And if you look

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<v Speaker 1>at the USDT dominance, that is breaking down, so that

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<v Speaker 1>means the stable coin liquidity it's tarning to make its

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<v Speaker 1>way into the market. Hence you have the inverse correlation.

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<v Speaker 1>So the RSI for USDT dominance is falling, but not

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<v Speaker 1>in the over soul zone. And of course it's collapsing

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<v Speaker 1>here on the chart. So these are positive signs showing

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<v Speaker 1>us this rally should continue. The question is how high.

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<v Speaker 1>As mentioned earlier, and if we look at the total

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<v Speaker 1>all coin market cap excluding bitcoin, ether and stable coins,

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<v Speaker 1>we're seeing a little bit of uptick. I do believe

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<v Speaker 1>all coins are gonna follow bitcoins move and outperform Bitcoin

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<v Speaker 1>as they typically do, but we're gonna have to be patient.

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<v Speaker 1>Bitcoin's gonna have to make its move. Bitcoin dominance is

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<v Speaker 1>rising right now, and then I believe all coins will

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<v Speaker 1>catch up. On the daily chart for the total three

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<v Speaker 1>again similar to Bitcoin, the RT size moving away from

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<v Speaker 1>the over soul zone but still has room to run

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<v Speaker 1>before it becomes overbought, and the mac D shows bulls

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<v Speaker 1>are in control. So these are all great signs guys,

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<v Speaker 1>and once again not a move to new all time highs.

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<v Speaker 1>And we do need to be cautiously optimistic because in

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<v Speaker 1>this environment, with the macro factors of the Iran war

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<v Speaker 1>and all these things going on, you never know what

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<v Speaker 1>news may come and then trigger a dump right and

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<v Speaker 1>invalidate everything here. So we're gonna take it one step

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<v Speaker 1>at a time. But we are seeing some very positive signs,

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<v Speaker 1>you know, as far as accumulation by the whales, we're

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<v Speaker 1>seeing a bit of an uptick here after retail started

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<v Speaker 1>slowing down. So data from Santaman is showing that whale

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<v Speaker 1>wallets are starting to pick up and a retail they're

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<v Speaker 1>calming down, so that inverse correlation is what you want

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<v Speaker 1>to see, right, We'll have to keep monitoring this and

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<v Speaker 1>see how it plays out in the coming weeks. We

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<v Speaker 1>are seeing bitcoin ETF inflows start to rise again, so

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<v Speaker 1>US spot bitcoin ETFs at two hundred and twenty five

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<v Speaker 1>million dollars as black rocks, ibid offsets, redemptions, So all

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<v Speaker 1>good signs. So let's be patient and see where the

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<v Speaker 1>market takes is. But I'm happy that we are seeing

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<v Speaker 1>some upward movement. Now, folks, we have huge crypto news.

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<v Speaker 1>First up, Kraken Crypto Exchange wins a Kansas City FED

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<v Speaker 1>approval for limited master account access. This is the first

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<v Speaker 1>crypto company to get a FED master account. If you recall,

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<v Speaker 1>Kaitlin Long and folks at her bank were trying to

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<v Speaker 1>get this and they were roadblocked. And now we're starting

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<v Speaker 1>to see the approval. Other folks who have applied as well,

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<v Speaker 1>I think Ripple and many others. So this is credible

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<v Speaker 1>and it's funny. It comes a couple of days after

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<v Speaker 1>Jamie Diamond said, you know, these crypto companies want to

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<v Speaker 1>offer stable coe yield, they should become banks. Here you go, right,

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<v Speaker 1>here you go, Jamie. It started. So this is incredible.

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<v Speaker 1>Let me give it to details. So US cryptocurrency exchange

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<v Speaker 1>Kraken's banking unit has been granted a limited purpose Master

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<v Speaker 1>account by the US Federal Reserve Bank of Kansas City,

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<v Speaker 1>giving it direct access to the fed's core payment system.

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<v Speaker 1>In the first for the crypto industry, Kracken Financial, the

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<v Speaker 1>exchange's banking unit has gained access to the fed's payment

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<v Speaker 1>system fed Wire, allowing it to move money on the

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<v Speaker 1>same rails used by banks and credit unions. According to

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<v Speaker 1>the announcement on Wednesday, the Federal Reserve Bank of Kansas

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<v Speaker 1>City approved a limited purpose account for Wyoming based Payword Financial.

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<v Speaker 1>As a Tier three entity with a Federal Reserve Master account,

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<v Speaker 1>we can operate not as a peripheral participant in the

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<v Speaker 1>US banking system, but as a directly connected financial institution.

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<v Speaker 1>Kraken co CEO or June Sethi said, the approval gives

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<v Speaker 1>the exchange the ability to settle directly on FED Wire,

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<v Speaker 1>reduce dependency on correspondent banks, and integrate Fiat liquidity into crypto.

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<v Speaker 1>He added, folks, this is so bullish, and again this

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<v Speaker 1>is just the tip of the iceberg. We're going to

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<v Speaker 1>see other companies get approved so crypto exchanges and platforms

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<v Speaker 1>and companies plugging into the FED just like trad FI institutions.

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<v Speaker 1>So again I hope you see the direction to puck

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<v Speaker 1>is heading in. We are now getting these approvals right,

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<v Speaker 1>and by the time the bull market rolls around with

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<v Speaker 1>crypto legislation pass, all of these rails set up right,

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<v Speaker 1>plugged into the system, trillions will come into the ACID

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<v Speaker 1>class and you're going to see more tokenization, more stable coins,

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<v Speaker 1>and much more. And of course that is going to

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<v Speaker 1>drive the value of the blockchains they're being built on

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<v Speaker 1>a higher plus their native token. So this is where

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<v Speaker 1>you've got to have the macro view and don't miss

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<v Speaker 1>how significant this is. This is incredibly, incredibly bullish news.

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<v Speaker 1>Now here's some more bolish news. Morgan Stanley taps coinbase

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<v Speaker 1>and b and y Melon for custody in proposed bitcoin ETF.

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<v Speaker 1>So Morgan Stanley and the likes of Vanguard went from

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<v Speaker 1>naysayers and haters to now we're gonna file for our

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<v Speaker 1>own ETFs. This is amazing, guys. The dominoes are following

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<v Speaker 1>big capitulation here. So the Morgan Stanley Bitcoin Trust plants

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<v Speaker 1>to storage bitcoin with coin based custody and Bank of

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<v Speaker 1>New York Melon, with B and Y also serving as administrator,

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<v Speaker 1>transfer agent, and cash custodium. So the filing outlines a

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<v Speaker 1>custody structure designed to mirror traditional institutional standards. Bitcoin will

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<v Speaker 1>largely be held in offline cold storage vaults where private

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<v Speaker 1>keys remain disconnected from the Internet to reduce hacking risks.

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<v Speaker 1>A portion of the assets may temporarily move to trading

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<v Speaker 1>wallets during ETF cre creation or redemption activity. The trust

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<v Speaker 1>notes that custody insurance exists, but it is shared across

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<v Speaker 1>customers and may not cover all potential losses. So folks,

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<v Speaker 1>as always, it starts a Bitcoin and they're going to

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<v Speaker 1>go to all coins. Watch after maybe three to four

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<v Speaker 1>months they go to eth XRP, Soalana and much more. So.

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<v Speaker 1>This is a massive, massive on rep that's going to

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<v Speaker 1>bring a lot of capital into the market. So all

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<v Speaker 1>the major bank, stock exchanges, and investment firms are all

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<v Speaker 1>getting involved in crypto. There's none left. There's a naysayers left, right.

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<v Speaker 1>It is now foolish if you don't have a crypto strategy.

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<v Speaker 1>It used to be taboo to even talk about crypto.

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<v Speaker 1>Now you better have a strategy. You better offer this

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<v Speaker 1>because this is the direction that Puck is heading in.

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<v Speaker 1>And here's another example of bank adoption of crypto. So Canada,

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<v Speaker 1>Scotia Bank launches multi crypto ETF with three IQ, the

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<v Speaker 1>bank's asset manager and three IQ debut and actively manage

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<v Speaker 1>crypto ETF to Canadian users, offering exposure to Bitcoin, Ether, Solana,

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<v Speaker 1>and XRP at a competitive zero point two five percent fee.

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<v Speaker 1>So banks across the globe all investing in crypto. Now, folks,

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<v Speaker 1>a great option for you to invest in crypto is

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<v Speaker 1>via an IRA. Why you get huge tax benefits. So

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<v Speaker 1>if you have a long term view on crypto, even

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<v Speaker 1>gold and silver, you can use I Trust Capital's IRA

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<v Speaker 1>to invest in those acid classes. So once again you

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<v Speaker 1>can get access to not only crypto such as bitcoin, XRP,

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<v Speaker 1>theorem and you name it right. They have over eighty

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<v Speaker 1>crypto assets, but also gold and silver which have been

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<v Speaker 1>performing incredibly well. So again huge tax advantages for doing this.

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<v Speaker 1>You can buy, sell and trade crypto twenty four to

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<v Speaker 1>seven along with gold and silver. It's low cost, no

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<v Speaker 1>monthly fees, and folks, the gold and silver they offer

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<v Speaker 1>it is fully redeemable, meaning you if you want to

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<v Speaker 1>get the physical bars or you know the amount of

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<v Speaker 1>goal that you have, you can do that. This is

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<v Speaker 1>not paper, gold or silver, so that's one of the

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<v Speaker 1>things that makes this platform unique. And if you have

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<v Speaker 1>an existing I e. Ray or four to one K,

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<v Speaker 1>you can roll it over to I Trust Capitalist version.

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<v Speaker 1>And they also offer a great custody option, so they

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<v Speaker 1>use institutional grade crypto custody, so they use coin based prime,

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<v Speaker 1>fireblocks fidelity digital assets, and we know that black Rock

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<v Speaker 1>uses coin based prime. So you're getting the tier one

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<v Speaker 1>level custodial services and second to self custody. I believe

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<v Speaker 1>this is the safest way of custodying your assets. You

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<v Speaker 1>can sleep at night, and it has a closed loop

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<v Speaker 1>system so even if someone hacks into your account, they

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<v Speaker 1>cannot withdraw funds. So I have an account with them. Guys,

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<v Speaker 1>you can definitely check out these two services. They're really

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<v Speaker 1>great and the custody solution is of course low fees,

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<v Speaker 1>so this is a great grade option to invest in crypto,

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<v Speaker 1>especially if you have that long term view. And folks,

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<v Speaker 1>if you use my link, you can get at one

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<v Speaker 1>hundred dollars funding bonus, so go check out I Trust

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<v Speaker 1>Capital sign up for an account. The link will be

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<v Speaker 1>in the description. Okay, folks, big news from Western Union.

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<v Speaker 1>They are teaming up with Crossmen to support their USDPT

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<v Speaker 1>stable coin on the Salona blockchain. Now I know, I

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<v Speaker 1>promised I was going to publish my interview with the

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<v Speaker 1>VP of Digital Assets at Western Union today. Unfortunately I

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<v Speaker 1>had to make a small edit to that interview. There

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<v Speaker 1>was some incorrect information in there, but it will be

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<v Speaker 1>published tomorrow, I promise. I give you my word so

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<v Speaker 1>you don't want to miss that interview to hear from

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<v Speaker 1>one of the largest payment companies, one of the oldest

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<v Speaker 1>now adopting blockchain stable coin technology. Folks, It's amazing the

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<v Speaker 1>paradigm shift we are seeing. So let me give it

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<v Speaker 1>to details here. So Crossman has partnered with Western Union

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<v Speaker 1>to support the launch of the remittance companies USDPT stable

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<v Speaker 1>coin and its new digital asset network on the Salona blockchain. Wednesday.

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<v Speaker 1>Announcement said the collaboration will integrate Crossman's wallet and payment

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<v Speaker 1>APIs with Western Union's infrastructure, allowing fintech firms to move

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<v Speaker 1>funds using the stable coin and connect to Western Union's

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<v Speaker 1>global payout network. The digital asset network is intended to

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<v Speaker 1>link stable coins with the company's existing pout infrastructure, enabling

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<v Speaker 1>users to convert digital dollars into local currency through its

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<v Speaker 1>network of more than three hundred and sixty thousand cash

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<v Speaker 1>pickup locations worldwide. This is incredible. This is new as

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<v Speaker 1>you need to send to cryptosceptics and naysayers and fudsters, right, people, Oh,

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<v Speaker 1>it's all scam, right, they just read headlines, they don't

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<v Speaker 1>actually educate themselves. Send this to them and make sure

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<v Speaker 1>you highlight that this company's launching its own stable coin.

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<v Speaker 1>They're doing it on a public blockchain, Salona, which they

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<v Speaker 1>can invest in the Soul token, right, but they can

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<v Speaker 1>also see the benefits if they're using Western Union of

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<v Speaker 1>the movement of stable coins, for faster settlement, cheaper fees

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<v Speaker 1>and all those things. So incredible, incredible things happening, folks.

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<v Speaker 1>This is why I'm bowl as from a macro perspective. Okay,

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<v Speaker 1>moving ahead, trade web backs, crypto ECN crossover markets in

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<v Speaker 1>thirty one million dollar funding round, so we continue to

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<v Speaker 1>see investments being made, expansions, mergers, acquisitions, and so forth.

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<v Speaker 1>So let me give it to details. So Electronic Trading

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<v Speaker 1>Company trade Web has led a thirty one million dollars

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<v Speaker 1>Series B funding round in institutional crypto trading platform crossover markets,

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<v Speaker 1>valuing the company at two hundred million dollars. The round

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<v Speaker 1>included participation from DRW Venture Capital, Ripple, Virtue Financial, Winter

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<v Speaker 1>med Ventures, Illuminate Financial, and XTX markets. According to Wednesday's announcement,

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<v Speaker 1>the deal also includes a strategic partnership that will allow

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<v Speaker 1>trade webs clients to access spot crypto liquidity through crossovers

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<v Speaker 1>cross x Electronic Communication Network, marking the company's entry into

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<v Speaker 1>institutional cryptocurrency trading and linking its global network of institutional

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<v Speaker 1>traders with digital asset markets. The on rams being built here, folks,

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<v Speaker 1>for more capital, come in. I hope you recognize what's happening.

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<v Speaker 1>I know we are all concerned about price. Price will

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<v Speaker 1>catch up, guys, and there's a cyclical pattern to that,

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<v Speaker 1>and obviously there's macro factors and things like that. But eventually,

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<v Speaker 1>if you're patient enough, the market's rebound and we'll go

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<v Speaker 1>to new highs. All right, folks, that's the news, really

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<v Speaker 1>big stuff, and let's hope the relief rally continues with

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<v Speaker 1>Bitcoin going as high as possible and all coins following.

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<v Speaker 1>I would love to hear what you guys think. Leave

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<v Speaker 1>your thoughts and comments below hit the thumbs up button

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<v Speaker 1>subscribe if you haven't as yet, be sure to support

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<v Speaker 1>chart data and information, so make sure you sign up guys,

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<v Speaker 1>and please grab a copy of my book on Amazon.

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<v Speaker 1>It's available in paperback in digital. And check out my

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<v Speaker 1>course at mycryptocurse dot com. This is a com coprehensive

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<v Speaker 1>course that teaches you everything you need to know about crypto.

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<v Speaker 1>It is packed with tons of videos, write ups, and

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<v Speaker 1>tons of material you can go at your own pace.

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<v Speaker 1>So knowledge is powers to expand your knowledge about these

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<v Speaker 1>technology and acid class guys. So go to Mycrypto course

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<v Speaker 1>dot com. All the links will be in the description.

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<v Speaker 1>Thank you so much for tuning in everyone. I appreciate

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<v Speaker 1>you all and I'll talk to you all later