Speaker 1: Hey, everybody, 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 sit that subscribe button as
Speaker 1: well as the thumbs up button and leave a comment below.
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: the market faked this out. Yesterday Bitcoin went over one
Speaker 1: hundred and twenty four thousand dollars, looked like it was
Speaker 1: in price discovery and then of course you all know
Speaker 1: what happened, massive correction and pullback. But obviously when you
Speaker 1: zoom out on the chart, this is nothing. It's like
Speaker 1: a tiny little blip, right, But this is the nature
Speaker 1: of the market. I always tell you, guys, be patient
Speaker 1: and expect volatility. How many times have I said that?
Speaker 1: And the market is certainly being manipulated by Wales. Just
Speaker 1: about a week and a half ago, a lot of
Speaker 1: shorts were liquidated with a big move up to the upside.
Speaker 1: Now a lot of longs got liquidated with a move
Speaker 1: to the downside. So it appears to be like the
Speaker 1: clearing of the leverage here, and we're going to reset
Speaker 1: we're going to find our support levels and we're going
Speaker 1: to keep going up. So nothing to panic about because
Speaker 1: the bullmarket thesis, the macro bullmarket thesis is still intact.
Speaker 1: Global liquidity, the key support levels, everything is still on track.
Speaker 1: And if we look at the etherorem it didn't even
Speaker 1: take a big hit. It was trading over forty seven
Speaker 1: hundred dollars yesterday, it's currently over forty six hundred and
Speaker 1: thirty six dollars. So things are still holding up well here.
Speaker 1: Obviously we got to lead to dust settle bit to see,
Speaker 1: you know, how soon are we going to recover? But
Speaker 1: one thing I'm looking at is Bitcoin dominance and that's
Speaker 1: still showing some red candles on the daily chart, so
Speaker 1: it looks like it is continuing to move down. So
Speaker 1: this is a good sign that the continuation may be
Speaker 1: right around the corner. Same thing for USDT dominance. So again, folks,
Speaker 1: things are still on track. Now, what's interesting, Whales continue
Speaker 1: to buy so black rocks bitcoin etf I bit. They
Speaker 1: bought four four hundred and twenty eight bitcoin today, putting
Speaker 1: their total accumulation at seven one hundred and forty nine
Speaker 1: thousand bitcoin. This is incredible now, it's obviously their client's
Speaker 1: money that are putting into this. But if you look
Speaker 1: at this chart, it's just a big uptrend here right.
Speaker 1: There are ebbs and flows on the micro but overall
Speaker 1: it's just continuing to rise. So the buying continues and
Speaker 1: they are anticipating higher prices. Of course. Now what didn't
Speaker 1: help is that US Treasury Secretary Scott Bescent he was
Speaker 1: on Fox Business, I believe, talking about a lot of things,
Speaker 1: including crypto, and he said the US is not going
Speaker 1: to be buying crypto, and a lot of people were
Speaker 1: turned off by that. But I was posting on x
Speaker 1: like I was saying since the beginning of the year,
Speaker 1: even on an interview on Cheddar News, I said, it's
Speaker 1: going to be a hard sell to tell Congress, let's
Speaker 1: go buy crypto right, let alone bitcoin, Let's just go
Speaker 1: buy bitcoin. Now, the US did establish a strategic Bitcoin
Speaker 1: reserve using the bitcoin they have confiscated, and I think
Speaker 1: that's a great start. But I think the buying is
Speaker 1: a cart sell, you know, given the fact that crypto
Speaker 1: legislation has not been passed it, the market structure has
Speaker 1: not been pasted it, So how the hell are you
Speaker 1: going to get Congress to buy in to use, whether
Speaker 1: it be whatever revenue neutral budget option there is, to
Speaker 1: buy crypto. It's just not going to fly right now.
Speaker 1: So I think we got to give this time. I
Speaker 1: do think eventually the US will buy bitcoin and maybe
Speaker 1: some other all coins, but I think we're a bit
Speaker 1: far away from that. I think the fact that the
Speaker 1: reserve has been set up for bitcoin is great, and
Speaker 1: we need to get the legislation done and I think
Speaker 1: then we can look at other things, because it would
Speaker 1: be like putting the cart before the horse here, right,
Speaker 1: So I think logic would tell you that, and like
Speaker 1: I said, a heart cell for Congress. You know, especially
Speaker 1: when you have a lot of Democrats already have been
Speaker 1: putting up some fight. Many of them are not happy
Speaker 1: with Donald Trump and his kids being involved in crypto.
Speaker 1: So it's getting very political. And to get these bills
Speaker 1: like the Genius Act and Clarity Act, it takes a
Speaker 1: lot of work. So I don't think the timing is
Speaker 1: right to try to go push this into Congress. I
Speaker 1: think maybe next cycle that or maybe in the bear market.
Speaker 1: You know, one could argue the US government they're not stupid,
Speaker 1: they're not gonna buy bitcoin and these high valuations, especially
Speaker 1: when we're not far from the top, and then you
Speaker 1: have a bear market that's gonna come. It will be
Speaker 1: it would make sense to go buy in a bear market. Right.
Speaker 1: So again, reason and logic here will tell you these things.
Speaker 1: So this, you know, made some people bearish. But this
Speaker 1: comes as no surprise. I think some people who are
Speaker 1: super hyping this up. You're following certain influence influencers. You
Speaker 1: know they were disappointed. But look, what are you expecting? Right?
Speaker 1: Senator Cynthia Lummis, who of course has been pushing for this,
Speaker 1: she gave an update here on x because a lot
Speaker 1: of people were tweeting at her. She said, Secretary Dissent
Speaker 1: is spot on about the importance of bitcoin as a
Speaker 1: store of value in the digital age. I look forward
Speaker 1: to continue working with him and Howard like to identify
Speaker 1: budget neutral ways to continue to grow are bitcoin reserve
Speaker 1: and outpacing adversaries in the race. So they're gonna look
Speaker 1: into it, They're gonna do it thing. But again, it
Speaker 1: doesn't matter if Lummis and a handful of people are bullish.
Speaker 1: You need to sell the entire Congress on this, right.
Speaker 1: You need to get the respective votes just like we
Speaker 1: had to get it for the Genius Act and then
Speaker 1: the upcoming Clarity Act. So it is what it is now.
Speaker 1: Look at this publicly traded Sequons plans to buy one
Speaker 1: hundred thousand bitcoin by twenty thirty, So more publicly traded
Speaker 1: companies are launching crypto treasury strategies. And it's bitcoin, and
Speaker 1: it's multiple al coins. So this is very bullish and
Speaker 1: will certainly help to drive the prices up higher. Now, folks,
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Speaker 1: will be in the description. Now look at this bullish news.
Speaker 1: Two point five seven trillion dollar asset manager City Group,
Speaker 1: which obviously one of the biggest banks, looks to add
Speaker 1: payment services and custody for crypto and staple coins. Of course,
Speaker 1: right just over the past couple of weeks we saw
Speaker 1: JP Morgan former partnership with Coinbase, P and C Bank
Speaker 1: and they're going to launch crypto custody, crypto trading and
Speaker 1: much more so. Of course, no one wants to get
Speaker 1: left behind game theory playing out here and by the way,
Speaker 1: today guys I interviewed a representative at coinbase to talk
Speaker 1: about the JP Morgan and P and C Bank Partnership.
Speaker 1: That interview is going to be published on Monday. You
Speaker 1: don't want to miss that because we talk about these
Speaker 1: banks and what they're looking to do here, and it's exciting.
Speaker 1: They're all capitulating you. At one point they were trying
Speaker 1: to kill the crypto industry, kill crypto startups. Now they
Speaker 1: have to bend the knee and they are all adopting crypto.
Speaker 1: So let me give it the details here. City Group
Speaker 1: has entered the digital asset space by planning to offer
Speaker 1: stable coin custody and crypto ETF support. The move follows
Speaker 1: the passage of the new US legislation that clears the
Speaker 1: path for stable coin use in mainstream finance. The bank
Speaker 1: is focusing on custody, tokenized payments and stablecorenin back transactions
Speaker 1: for institutional clients. Folks, I hope you're not feeling bearish
Speaker 1: because the price pull back a bit here. I hope
Speaker 1: you see the setup. I hope you see the big institutions,
Speaker 1: the biggest of the biggest in the world. Many of
Speaker 1: these banks hold your money. They are coming into crypto,
Speaker 1: they are building, they're integrating. They want to offer it
Speaker 1: to their clients. So things are progressing nicely here and
Speaker 1: all of these new on rams being built and utility
Speaker 1: is going to drive the prices higher. The question is
Speaker 1: are you patient enough? Do you have the macro view
Speaker 1: which I've been trying to show you guys, to look
Speaker 1: at the market from a macro perspective to understand what's
Speaker 1: happening here and what a great opportunity this is if
Speaker 1: you're patient enough. Now let's move ahead. Tokenization firm Dinari
Speaker 1: to launch an l one blockchain aims to be the
Speaker 1: DTCC of token ised stocks. So the competition is heating
Speaker 1: up here, folks. This is amazing. So Dinari is launching
Speaker 1: its own blockchain using avalanche is tech to enhance the
Speaker 1: trading of tokenized public securities. Many of you know I
Speaker 1: hold the avax token, which is the native token of
Speaker 1: the Avalanche blockchain. I've often had folks on from Avalanche,
Speaker 1: and I believe it's one of the blockchains there's going
Speaker 1: to be a winner, you know. Most recently, one of
Speaker 1: the major counties in New Jersey, Bergen County, they announced
Speaker 1: they're going to be tokenizing millions of dollars of real
Speaker 1: estate on the Avalanche blockchain. So incredible stuff. So the
Speaker 1: Dinari Financial Network aims to unify clearing and settlement of
Speaker 1: tokenized equities across various chains, similar to the dtcc's role
Speaker 1: in the US stock market. The move fits into the
Speaker 1: trend of firms like stable Coin, issuer Circle, and payment
Speaker 1: firm Stripe developing proprietary chains. So everyone is trying to
Speaker 1: start their own chain. Now it's interesting to see which
Speaker 1: layer one they're building on or if they're launching their
Speaker 1: layer two on that layer one. So this one is
Speaker 1: obviously the avalanche, so fascinating, right and now doesn't mean
Speaker 1: that everyone's blockchain is going to be successful, but this
Speaker 1: is where in this building phase, this speculative phase, and
Speaker 1: the R and D and trial and error, it's really
Speaker 1: exciting to watch it play out and we'll see who
Speaker 1: the winners are. But this is where we want to diversify.
Speaker 1: This is why I hold the avax token in my
Speaker 1: portfolio because I think it could be one of the winners.
Speaker 1: But we don't know, you know what the future. Holes
Speaker 1: are going to have a crystal ball, but we'll see,
Speaker 1: you know, what does the next bull market bring because
Speaker 1: we'll have legislation now and then there's going to be
Speaker 1: a bear market, and usually the bear market is where
Speaker 1: there's a lot of building happening and we'll see who
Speaker 1: are the chains that are selected and all the building
Speaker 1: that happens and what the narratives are come the next
Speaker 1: bull market. So really exciting stuff. Final news item here
Speaker 1: crypto exchange Gemini, which is run by the Winkleboss Twins,
Speaker 1: launches wallet and on chain dashboard for trading and investing.
Speaker 1: So we're seeing a lot of innovation and expansion from
Speaker 1: many crypto businesses. Signs of a healthy mart market and
Speaker 1: a bowl market. A lot of companies going public, expanding globally, hiring,
Speaker 1: doing acquisitions right, so really really interesting stuff. So Gemini
Speaker 1: has launched a self custody crypto wallet would pass key
Speaker 1: based onboarding, removing the need for recovery phrases. This is
Speaker 1: very interesting. This this is type of technologies what's going
Speaker 1: to help bring in, you know, a billion people because
Speaker 1: the seed phrase is the recovery phrases really scare people.
Speaker 1: There's so much friction, especially if you're not tech savvy.
Speaker 1: You know, it is one of the things you have
Speaker 1: to worry about and backing up, making sure it's safe
Speaker 1: and look. Self custody is a great thing. But if
Speaker 1: you can make it easy tied to maybe biometrics and
Speaker 1: things like that versus having to remember twenty four words,
Speaker 1: you know, it would make things a lot easier. Gemini
Speaker 1: also launched the Gemini on Chain Dashboard, a web interface
Speaker 1: for trading tokens and exploring decentralized applications. I'm going to
Speaker 1: try to get the Winklevoss twins back on the I
Speaker 1: interview them back in twenty twenty to talk about all this.
Speaker 1: But great to see innovation, guys. This is what we
Speaker 1: want to see in competitions, healthy for us as users
Speaker 1: and for consumers. So very great stuff here, folks. A
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Speaker 1: my course at mycryptocurse dot com. This is a comprehensive
Speaker 1: course that teaches you every aspect of crypto. Knowledge is
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Speaker 1: All the links will be in the description. Thank you
Speaker 1: so much for watching and listening. I appreciate you all
Speaker 1: and all talk to you all later. M hmm.