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<v Speaker 1>This isn't just a dip. It feels more like a reset.

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<v Speaker 1>The market isn't waiting for a bounce, it's waiting for proof,

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<v Speaker 1>and right that proof is missing. Bitcoin's been stuck under

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<v Speaker 1>sixty two thousand dollars. ETFs are pulling money out, and

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<v Speaker 1>traditional finance is still on the sidelines. If you're not

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<v Speaker 1>adjusting your thinking, you're just guessing. Here's what's really going

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<v Speaker 1>on and why. The next few days could decide whether

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<v Speaker 1>this bear market holds or starts to crack. But first,

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<v Speaker 1>a quick word from our sponsor. Okay, so here's what's happening.

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<v Speaker 1>Binance longs are getting cleaned out. Bitcoin's hovering around sixty

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<v Speaker 1>two thousand dollars. Open interest dropped right along with the price,

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<v Speaker 1>which means the market's clearing out weak positions, not building

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<v Speaker 1>new momentum. Bitcoin's around sixty two thousand dollars, still in

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<v Speaker 1>a bear market. Ethereum's holding steady near eighteen seventy five.

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<v Speaker 1>Solana is about seventy five. Total market can apps down

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<v Speaker 1>a bit, sitting around two point two trillion. Bitcoin's dominance

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<v Speaker 1>is still strong at fifty six percent. Defis total value

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<v Speaker 1>locked dipped slightly stable coin supply grew a few percent

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<v Speaker 1>in the last day, not enough fuel for a bounce.

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<v Speaker 1>Fear and greed is flat at twenty nine. No panic,

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<v Speaker 1>no rush to buy, just quiet waiting the takeaway. The

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<v Speaker 1>market's not ready to move, it's holding its breath. All

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<v Speaker 1>five tracked narratives fell over seven days. Privacy coins held

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<v Speaker 1>up best down only a little. Monarrow is the top

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<v Speaker 1>coin in that sector, up a few percent over seven days.

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<v Speaker 1>Bitcoins near sixty three thousand dollars. It's been down over

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<v Speaker 1>the past week. Not a strong move. Supports about two

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<v Speaker 1>percent below resistance, four percent above momentums mixed. Don't bet

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<v Speaker 1>on a rebound until we see real follow through. The

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<v Speaker 1>full setup levels and what would invalidate this read are

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<v Speaker 1>all in the monthly PLA Start your alpha trial at

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<v Speaker 1>tokenmetrics dot com. Polymarket shows a sixty percent chance of

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<v Speaker 1>a FED rate cut by November, Crypto ETF approval by

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<v Speaker 1>twenty twenty seven about a third. Both depend on inflation.

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<v Speaker 1>If CPI stays cool, odds go up. If the Fed

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<v Speaker 1>stays hawkish, approval chances drop. The market isn't betting, it's

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<v Speaker 1>just waiting for clarity the takeaway, until regulators speak the

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<v Speaker 1>door stays cracked. Read dot pay just paused its one

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<v Speaker 1>billion dollar USIPO now unlikely before twenty twenty seven legal issues.

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<v Speaker 1>This isn't a failure. It's a sign traditional finance wants

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<v Speaker 1>crypto yield. But they're not walking through the door, not

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<v Speaker 1>because they don't want it, but because they're waiting for

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<v Speaker 1>proof the system won't collapse. The takeaway is this, the

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<v Speaker 1>door is still cracked, not open. Tether finally got a

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<v Speaker 1>full audit. KPMG signed off off on its twenty twenty

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<v Speaker 1>five books for a stable coin with three hundred and

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<v Speaker 1>seven billion dollars in supply. That's a big deal. It

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<v Speaker 1>doesn't fix all the risks, but it kills the joke

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<v Speaker 1>that it might be nothing. The takeaway trust is improving,

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<v Speaker 1>but only if people don't panic and start redeeming on

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<v Speaker 1>a scare. The SEC canceled its Friday meeting on crypto rules.

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<v Speaker 1>The Clarity Act got delayed. Now the Commission is pulling

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<v Speaker 1>its own session. This isn't oversight. It's limbo. Builders are stuck.

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<v Speaker 1>Lawyers are billing no safe harbor for tokenized equities, yet

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<v Speaker 1>the takeaway innovation is on hold. Bit Wise is exploring

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<v Speaker 1>turning its Salona staking ETF into an on chain asset

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<v Speaker 1>via a partnership with Superstate. That would mean the ETF

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<v Speaker 1>isn't just tracking the blockchain, it becomes part of it.

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<v Speaker 1>If they file a prospectus in the next month, the

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<v Speaker 1>trend could pick up. If not, it's just talk. The takeaway.

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<v Speaker 1>This could be a bridge between traditional finance and critrypto,

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<v Speaker 1>but only if they follow through spot Bitcoin ETFs saw

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<v Speaker 1>back to back outflows about two hundred million dollars. That's

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<v Speaker 1>the first two day drawdown of August. Bitcoin hit its

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<v Speaker 1>lowest since early August as stocks rose on cooler PPI data.

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<v Speaker 1>Crypto isn't writing the risk on train. ETF holders are

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<v Speaker 1>taking chips off the table. The takeaway, this isn't noise,

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<v Speaker 1>it's de risking all right, Before we get into the risks,

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<v Speaker 1>quick word from our sponsor. Okay, we're back. Let's talk

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<v Speaker 1>about what to watch for. Fear and greed has been

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<v Speaker 1>flat at twenty nine for a week. No panic, no buying.

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<v Speaker 1>That's not calm. It's the market holding its breath. Stable

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<v Speaker 1>Coin supply grew less than one percent in twenty four hours,

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<v Speaker 1>not enough new money to power a rally. Liquidity's thin

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<v Speaker 1>redot pays IPO delayed to twenty twenty seven. SEC meeting canceled.

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<v Speaker 1>The window for public crypto deals is closing. The real

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<v Speaker 1>risk buyers are scared. Leverage got flushed and regulatory clarity

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<v Speaker 1>slipped again. The takeaway this flips if Bitcoin reclaims sixty

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<v Speaker 1>five thousand dollars and stable coin supply starts rising. Until then,

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<v Speaker 1>this is a weight and see market. The SEC's crypto

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<v Speaker 1>rule meeting got canceled. That's a delay on the tokenization exemption.

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<v Speaker 1>Builders stay stuck. The thirty year treasury auction hit five percent,

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<v Speaker 1>the highest since two thousand and one. That's pressuring risk assets.

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<v Speaker 1>Crypto follows trad file liquidity, and a Washington court ordered

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<v Speaker 1>KLC to block bets on the state that adds regulatory

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<v Speaker 1>risk to prediction markets. The takeaway if more states follow,

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<v Speaker 1>the whole space could get squeezed. We're updating the Alpha

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<v Speaker 1>playbook with new ETF flow models, and this week's roundtable

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<v Speaker 1>will cover tokenized ETFs and the new audit standards. If

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<v Speaker 1>you're in the discord. For those of you who are

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<v Speaker 1>serious about your portfolio, token metrics roundtable gives you private

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<v Speaker 1>AI portfolio reviews, live monthly discussions, and everything in our

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<v Speaker 1>alpha plan. Head to tokenmetrics dot com to see if

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<v Speaker 1>it's a fit. This is educational content, not investment advice.

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<v Speaker 1>Always do your own research. I'm Alex, See you next time.