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.
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Speaker 1: What a crazy weekend we've had so far for the markets.
Speaker 1: Of course, you all know Friday the markets crashed. They
Speaker 1: dumped right because Donald Trump posted that he's going to
Speaker 1: implement one hundred percent tariff on China and much more.
Speaker 1: Right we know that. Well, today the man goes and
Speaker 1: posts on truth social that don't worry about China, it
Speaker 1: will all be fine. Highly respected President g just had
Speaker 1: a bad moment. He doesn't want depression for his country,
Speaker 1: and neither do I. The USA wants to help China,
Speaker 1: not hurt it, President DJT. So what happened? The markets
Speaker 1: started reversing, so we see bitcoins pumping. Bigcoin is over
Speaker 1: one hundred and fifteen thousand dollars once again, the RSI
Speaker 1: and the daily chart moving away from that over soul zone.
Speaker 1: I think a lot of people who are going along
Speaker 1: got wiped out. I mean, I'm seeing the stories people
Speaker 1: losing lots of money. So the only way or direction
Speaker 1: to go is up. Right, We've seen these cyclical patterns.
Speaker 1: I've often told you it's like a pendulum. If you
Speaker 1: go to the overbought, expect a correction. If you're in
Speaker 1: an over sold, expect a pump. Now, I don't know
Speaker 1: if we're fully out of the woods yet, right. This
Speaker 1: is a lot of volativity, a lot of uncertainty. It's
Speaker 1: not that the bull market's over, just in the short term.
Speaker 1: Expect we could see fake outs right, another rollover to
Speaker 1: test the bottoms and even go lower. I'm not saying
Speaker 1: that's guaranteed. I'm not saying it's a certainty, but as
Speaker 1: educated investors, we want to be prepared for all scenarios. Now,
Speaker 1: many of us are spottholders. We don't use your leverage,
Speaker 1: so we're not worried about this obviously. It's just a
Speaker 1: matter of understanding what is coming next. And with this
Speaker 1: move upwards, guys, we got two hundred and twenty five
Speaker 1: million dollars, it's probably higher now of cryptos shorts getting liquidated, Guys,
Speaker 1: stay away from leverage. Whether you're going long or short,
Speaker 1: we're seeing both sides getting liquidated. It's a very risky game,
Speaker 1: and we talked a lot about it in yesterday's podcast.
Speaker 1: Now with this crash, though, what's interesting some people are
Speaker 1: pulling up comparisons to the COVID crash that we saw
Speaker 1: in March of twenty twenty. The pattern looks very similar.
Speaker 1: So let's see could we have a V shape recovery
Speaker 1: and a massive rally follow It's possible. We'll have to
Speaker 1: wait and see. But some things I tweeted out about
Speaker 1: today that I think seems to be a bullish setup,
Speaker 1: both with macro factors and narratives. And one Trump essentially
Speaker 1: backtracks or delays the China tariffs again. The US government
Speaker 1: opens up because right now is shut down, The FED
Speaker 1: cuts rates again, the Clarity Act gets passed in the Senate,
Speaker 1: and the SEC approves the all coin ETFs. All of
Speaker 1: these things could drive a massive bull market, not only
Speaker 1: for crypto but the stock market as well. And speaking
Speaker 1: of the stock market, in fact, CALSHI and other stock
Speaker 1: market futures are showing green that they're looking to open
Speaker 1: sharply higher come tomorrow. So let's see how things play out.
Speaker 1: Here's what Macro investor Ralph Powell had to say about
Speaker 1: this all said and done, regardless of what sparked it,
Speaker 1: Friday was a flash crash. Flash crashes usually recover in
Speaker 1: V shapes back to their prior price slash range and
Speaker 1: usually go on to make new highs shortly after. In
Speaker 1: this case, we entirely wiped out all accumulated leverage too higher. Now,
Speaker 1: I agree with him because what we've seen in the past,
Speaker 1: when you have huge liquidations, it's like a perfect setup
Speaker 1: for a massive rally. Again, you go out through a
Speaker 1: history and you look at when things like this have happened,
Speaker 1: and the market does the opposite, right, So this is
Speaker 1: very interesting. Let's see how it all plays out now
Speaker 1: and the weekly bears are in control, you know, we're
Speaker 1: looking at the mac D here, but a green candle
Speaker 1: is starting to form on the weekly chart. Again, Let's
Speaker 1: see how this week coming week plays out. But if
Speaker 1: it does, you know reverse and sharply moves up. We
Speaker 1: could see things flip where bulls grab control. But from
Speaker 1: the higher time frame, the monthly chart. You know, yesterday
Speaker 1: we looked at it, there was a tiny red candle
Speaker 1: on the monthly chart, it is now flip green. And
Speaker 1: as I've been telling you guys, the RSI is not
Speaker 1: in the overheated overboard zone like we've seen at previous tops,
Speaker 1: and the bulls are in firm control on the monthly.
Speaker 1: So this is why you got to look at multiple timeframes.
Speaker 1: You can't just look at one time frame, right, and
Speaker 1: you gotta look at different data points. As it relates
Speaker 1: to bitcoin dominance, which spiked up obviously because of you know,
Speaker 1: all coins getting liquidated and much more and Bitcoin losing value. Well,
Speaker 1: now that the price is starting to recover, bitcoin dominance
Speaker 1: is starting to fall again. Same thing with US thet dominance.
Speaker 1: So there's no invalidation of what we've been talking about
Speaker 1: that these things are headed in a certain direction for
Speaker 1: the bull market to continue and to head to a
Speaker 1: blow off top. And when we look at the entire
Speaker 1: market altogether, it's not just Bitcoin that's moving. So the
Speaker 1: total market cap is up seven percent back to three
Speaker 1: point nine to one trillion, The top twenty tokens on
Speaker 1: coin market cap are up just over seven percent, so
Speaker 1: we're starting to see some recovery here. But like I said, guys,
Speaker 1: I know I'm saying this again I'm repeating myself, but
Speaker 1: it could be additional volatility. You know how market makers
Speaker 1: and whales like to play with us, right, so let's
Speaker 1: be patient. Obviously, if you're in spot, you're fine. No,
Speaker 1: none of us lost our shirts. But if you were
Speaker 1: using leverage, well, man, you got destroyed essentially. And I
Speaker 1: feel bad for a lot of people I see to
Speaker 1: post on x people losing tens of thousands, hundreds of thousands,
Speaker 1: millions of dollars and it sucks. But that's that's the
Speaker 1: risk that comes with leverage trading. Guys. Now, I want
Speaker 1: to share something here from crypto Wizard, you know, specifically
Speaker 1: for XRP, because I shared some examples with Etheroreum yesterday.
Speaker 1: He says, not the end capitulation doesn't mark the end.
Speaker 1: Back in twenty seventeen, XRPT had a huge capitulation wick
Speaker 1: six weeks later it exploded to the upside and never
Speaker 1: looked back. It just had the same capitulation event. Can
Speaker 1: it repeat? So we're seeing similar patterns here in the
Speaker 1: charts for all coins that this flash crash capitulation is
Speaker 1: just a tiny bullep in the radar resets. You know,
Speaker 1: the whole system deleverages the whole system and prepares us
Speaker 1: for maybe what could be the final run up to
Speaker 1: a blow off top. We'll have to wait and see.
Speaker 1: As I've been telling you guys, a scenario one is
Speaker 1: the blow off top still happens in Q four, maybe
Speaker 1: late November into December, or this spills into twenty twenty six.
Speaker 1: That's where we're going to continue to monitor the different
Speaker 1: data points to get an idea where we're at. Nevertheless,
Speaker 1: I think the next local top or the blow off
Speaker 1: to whatever it is, I'm going to start exiting the market.
Speaker 1: I will let you guys know you know where am
Speaker 1: I exiting of which coins and things like that, because
Speaker 1: you know there's gonna be rotation of liquidity and Bitcoin
Speaker 1: leads the market, so I'll start exiting on Bitcoin first.
Speaker 1: So that is my plan. Now. A great crypto platform
Speaker 1: that I'll be leveraging to buy the dips and as
Speaker 1: well as sell some of my crypto is Uphold. Uphold
Speaker 1: has over three hundred plus cryptocurrencies. I've been using them
Speaker 1: since twenty eighteen. They also offer a staking on twenty
Speaker 1: plus crypto assets, and folks, I've never had any issues
Speaker 1: with Uphold. They are a great platform. They are one
Speaker 1: hundred percent reserve, they don't commingle or lend out your
Speaker 1: crypto funds, and you can review their transparency report that
Speaker 1: they have on their website and folks, they also offer
Speaker 1: a great rewards program where you can earn up to
Speaker 1: five point twenty five percent on stable coins. They don't
Speaker 1: do any shady business, they do it the right way
Speaker 1: and part of this rewards program, if you participate, you
Speaker 1: can get twenty four hour early access to new tokens
Speaker 1: that they list and the stable coins they support includes Ripples,
Speaker 1: r L, USD you can earn a five percent there
Speaker 1: and USBC you can earn up to five point twenty
Speaker 1: five percent there. And in order to participate, you simply
Speaker 1: have to open the app once per month, deposit fifty
Speaker 1: dollars once per month, and trade fifty dollars once per month.
Speaker 1: So great program, easy to use, lots of benefits, and
Speaker 1: they have a ton of other cool products and features,
Speaker 1: so check them out. Visit the link in the description. Now, folks,
Speaker 1: with all the liquidations and much more, there's been a
Speaker 1: lot of controversy around binance, and here's the headline that
Speaker 1: you need to know about Binance pays two hundred and
Speaker 1: eighty three million dollars in compensation following Friday's dpegs covering
Speaker 1: user losses. So Binance, the world's largest crypto exchange by volume,
Speaker 1: seted compensated users by of three binance earned assets to
Speaker 1: the tune of two hundred and eighty three million dollars
Speaker 1: after Friday's volatility caused the assets to dpeg from their
Speaker 1: intended price. Binance executives apologize to users after Friday's market
Speaker 1: downturn apparently triggered assets in three Binance earn markets or
Speaker 1: Athena's stable coin US. The e Binance issued Salona Liquid
Speaker 1: Steak in token b N s O L and Wrapped
Speaker 1: Beacon Liquid Steak in token w b E t h
Speaker 1: TOO dpeg from their intended prices. Athene is us, the
Speaker 1: e intended to be pegged to a dollar briefly fell
Speaker 1: below sixty six cents on Binance. So there's also talks
Speaker 1: of insider trading that somebody, I don't know if it's
Speaker 1: Binance related or not, but someone open a short, you know,
Speaker 1: like a day before Donald Trump did his post. So
Speaker 1: it seems like there's some massive insider trading here. But
Speaker 1: you know, we don't have that much details. We'll have
Speaker 1: to wait and see what the salutes and some of
Speaker 1: these folks are able to uncover. But these are things
Speaker 1: that happen in the stock market as well, So just
Speaker 1: so you know, it's not a crypto specific thing, you know,
Speaker 1: as far as insider trading and so forth. But you know,
Speaker 1: markets have some level of manipulation happening. But at the
Speaker 1: end of the day, the pros that way the cons
Speaker 1: and we want to make sure we position ourselves and
Speaker 1: have the macro view. Don't use leverage, don't try to
Speaker 1: daytrade this thing, and you will be fine. You know,
Speaker 1: there's going to be the volatility, you know, as all
Speaker 1: markets have shown throughout history, but you know, we want
Speaker 1: to be smart. Buy the blood on the streets by
Speaker 1: the lows and sell the euphoric blow off top. Now,
Speaker 1: final news item here. This is very fascinating. So the
Speaker 1: user decode on x did a great job of compiling
Speaker 1: crypto assets bitcoin and all coins that are held by
Speaker 1: publicly traded companies and he put their value in by
Speaker 1: US dollar. So we've been seeing a lot of adoption
Speaker 1: a lot of digital acid treasury companies and it's really
Speaker 1: great to get this information. So the top asset comes
Speaker 1: as no surprise, Bitcoin with over one hundred and nineteen
Speaker 1: billion dollars, eth at over fifteen billion dollars, Solana at
Speaker 1: over two billion dollars, Avax just over billion dollars, followed
Speaker 1: by Ena which is around eight hundred nine ninety million dollars,
Speaker 1: followed by Hype at six hundred million dollars, then BnB
Speaker 1: at just over five hundred and thirty five million dollars,
Speaker 1: followed by Sui at over three hundred and forty four
Speaker 1: million dollars, and so on and so forth. It goes
Speaker 1: down XRPS on this list that just over one hundred
Speaker 1: and twenty one million. Doge is actually right above XRP
Speaker 1: at one hundred and eighty eight million dollars, fet if
Speaker 1: which is the fetch dot ai token over fifty five
Speaker 1: million dollars, Tawel which is bitten censor I believe over
Speaker 1: twenty five million, and like Cooin at over four hundred
Speaker 1: and sixty three thousand dollars. So very interesting the volume,
Speaker 1: And I hope someone builds some sort of tracker of this.
Speaker 1: Maybe that's something I should do, and you know, start
Speaker 1: tracking this overall and get an idea which assets are
Speaker 1: being bought up by these publicly traded companies because these
Speaker 1: things are going to move prices and create a supplying
Speaker 1: demand economic play here, right, So the supply getting bought
Speaker 1: up quickly, some of it locked and staking for proof
Speaker 1: of steak tokens, plus the ETFs and much more. It's
Speaker 1: good to get an idea of how all this is
Speaker 1: playing out, all right, folks, that's the news. Let me
Speaker 1: know what you think. Let me know what you think
Speaker 1: about Donald Trump's new posts today. And do you see
Speaker 1: a V shape recovery starting here? And we continue to
Speaker 1: rally into Q four. Doesn't mean we go up in
Speaker 1: a straight line, doesn't mean we don't see volatility, but
Speaker 1: the worst of it, I think maybe behind us, which
Speaker 1: happened on Friday, just like we saw in twenty twenty
Speaker 1: March twenty twenty with COVID. So if you appreciate it
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Speaker 1: check out my book on Amazon. It's available in paperback,
Speaker 1: in digital, and my course at Mycrypto course dot com. Folks,
Speaker 1: Thank you so much for watching and listening. I appreciate
Speaker 1: you all, and I'll talk to you all later