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.
Speaker 1: On your way in. Please hit that subscribe button as
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Speaker 1: rating and follow folks. Lots of great price action today,
Speaker 1: So let's start with the price of bitcoin. So bitcoin
Speaker 1: at the time of recording is a seventy four three
Speaker 1: hundred and six dollars. We continue to see strength. We've
Speaker 1: been covering the relief rally for weeks now. Right looking
Speaker 1: at the chart and this setup that was there, there
Speaker 1: were still a lot of people saying, no way, there's
Speaker 1: not going to be a relief rally, but here it is.
Speaker 1: And I'm not saying we're going to new high So
Speaker 1: please understand the situation at hand. We are still in
Speaker 1: a bear market. We are certainly nary bottom after a major,
Speaker 1: major drop from one hundred and twenty six thousand down
Speaker 1: to sixty something thousand here, so great to see this
Speaker 1: is happening. And on the weekly chart we are seeing
Speaker 1: a lot of strength as well, you know, we've been
Speaker 1: highlighting that the RSI was in the over soul zone.
Speaker 1: It's turning to move away from there. The mac D
Speaker 1: shows the bears are losing momentum, and if you look
Speaker 1: at coin market Cap, you're seeing green across the board.
Speaker 1: Alts are starting to wake up. For example, Etheroreum is
Speaker 1: up near eleven percent over the past twenty four hours,
Speaker 1: XRP up near eight percent, and there's other all coins
Speaker 1: that are doing well. So I do believe that the
Speaker 1: altar are going to follow Bitcoin's move, and the RSI
Speaker 1: on the Bitcoin Daily Charts shows there's still room for
Speaker 1: it to run. The mac D shows the bulls are
Speaker 1: in control. So these are all positive signs. The other factor,
Speaker 1: which is something I had brought up in the past,
Speaker 1: and that is bitcoin priced in gold has found a bottom.
Speaker 1: It's starting to break out here. We got a green
Speaker 1: kennel on a chart, so it's been going down and
Speaker 1: down as gold has been rising and ripping. Right, we
Speaker 1: saw was in a bull market and bitcoin was dumping
Speaker 1: doing the opposite. So now the bottom is formed. And
Speaker 1: of course if you look at the gold chart, what
Speaker 1: is gold doing. It's starting to break down. I think
Speaker 1: it pretty much topped out after that parabolic move. So
Speaker 1: rotation of liquidity, I've been talking about it for a
Speaker 1: long time and you're seeing it play out now. Now
Speaker 1: it doesn't happen according to our timeline, right, the markets
Speaker 1: can stay in a certain position for a very long
Speaker 1: time where it almost makes you question your thesis and
Speaker 1: what's happening. But this is where patience and the macro
Speaker 1: review is so important because now months later we can
Speaker 1: sit back and say, here you go, here's some rotation
Speaker 1: that's happening. And again I'm not saying this is a
Speaker 1: move to new all time high for bitcoin, but the
Speaker 1: data doesn't lie. I'm sharing the data and it looks
Speaker 1: like here that bitcoin pricing gold has bottom. And not
Speaker 1: to mention, bitcoin has been outperforming both gold and the
Speaker 1: stock market. Now, speaking at a stock market, you know,
Speaker 1: I've been highlighting there's a lot of weakness here. There's
Speaker 1: distribution happening on the S and P five hundred as
Speaker 1: well as the NASDAC, and that is something we have
Speaker 1: to watch. Now. A good sign is that this stock
Speaker 1: market is nearing the S and P five hundred is
Speaker 1: nearing the over sol zone. It's RSI and the daily chart.
Speaker 1: So could it dip a little bit below, find the bottom,
Speaker 1: then start its own relief rally, just like what Big
Speaker 1: One's doing. Sure, but if it was, you know, starting
Speaker 1: to fall off a cliff and going crazy, that would
Speaker 1: have me worried because the stock market has this gravitational
Speaker 1: pull where it's going to pull these other acid classes,
Speaker 1: especially crypto, with it. So let's see, today's a little
Speaker 1: bit of a bounce on the S and P five
Speaker 1: hundred as well as the NASDAK and like I said,
Speaker 1: nearing that over soul zone, and maybe it goes down
Speaker 1: a little bit more, then bottom's out. And I'm not
Speaker 1: saying that's a macro bottom. You know that it starts
Speaker 1: up in this massive bull market again, but it could
Speaker 1: be a local bottom before we have a relief rally
Speaker 1: then rollover to lower lows. So that's gonna be my
Speaker 1: base case for now. I would love to be wrong.
Speaker 1: I would love for both the crypto market and the
Speaker 1: stock market to just rally to new all time highs.
Speaker 1: That would be amazing. I'll take that l any day
Speaker 1: because my portfolio would be winning. Right, You get what
Speaker 1: I'm saying. It's not about necessarily, you know, my ego,
Speaker 1: but just my portfolio. If I want the money, right,
Speaker 1: you could take the fame, you can say I called it.
Speaker 1: That's fine. I just want my portfolio to go up.
Speaker 1: And I'm sure many of you agree with me. So
Speaker 1: that's where we're at. We're seeing some positive signs, and
Speaker 1: like I've been saying, I think alts A're gonna follow
Speaker 1: bigcoin and let's see how high Bitcoin goes. You know,
Speaker 1: I wrote a newsletter today. Make sure you're subscribe guys.
Speaker 1: It's free. It's on substack where I outline different charts
Speaker 1: where I showed charts for certain all coins and total
Speaker 1: three and how those are playing out, showing that they're
Speaker 1: about to follow Bitcoin as well. The inverse to all
Speaker 1: of this movement for the crypto is that USDT dominance
Speaker 1: is collapsing. So that's a good sign, and it means
Speaker 1: the stable coin liquidity is starting to make its way
Speaker 1: into the market. And you know, this is a legit rally,
Speaker 1: so it's not like this is hovering sideways or it's
Speaker 1: still climbing and there's like a rally. So you know,
Speaker 1: you could say, hey, that looks like some sort of
Speaker 1: fake out right there. But I think this is confirmation
Speaker 1: that we are seeing liquidity move back into the market.
Speaker 1: Now on the topic of gold, you know, one of
Speaker 1: the things I've been highlighting is that we're starting to
Speaker 1: see cracks in the market and the economy, and that
Speaker 1: you know, in the near term, not saying that in
Speaker 1: the short term, but the near term, we could see
Speaker 1: some collapses. I'm not saying that's a guarantee, but we're
Speaker 1: just seeing cracks right the job market, the Iran situation,
Speaker 1: and look at this today, trading was halted in all
Speaker 1: contracts on the London Metal Exchange, so people maybe panicking
Speaker 1: about gold and silver trying to hear, redeem and sell
Speaker 1: and they had to halt trading. And then you know,
Speaker 1: I was highlighting a black rock having to pause withdrawals
Speaker 1: of its private credit fund. So that's not a good sign.
Speaker 1: When the world's largest acid manager has to pause withdrawals,
Speaker 1: you know, that's a worrisome thing. Again, I'm not a doomer.
Speaker 1: I'm not calling for a massive collapse or whatever, but
Speaker 1: it just seems there are signals here that things are
Speaker 1: starting to break. And it's usually or maybe the mo
Speaker 1: of the Fed and the government they want that to happen.
Speaker 1: So that it gives them the narrative, the excuse to say, see,
Speaker 1: we had to print this amount of money, so I
Speaker 1: think they ramp up keweed. They will put it on
Speaker 1: steroids and do the bailouts. Right, They're not gonna let
Speaker 1: the assets go to zero. Guys, please, if that's what
Speaker 1: you think, then you're crazy. You don't understand how this
Speaker 1: all works. They print money and asset prices keep going up.
Speaker 1: Zoom out on the charts and you'll see the trend
Speaker 1: is keep going up and up and up. And that
Speaker 1: is because this is how the FIATSA the works. It's
Speaker 1: a debt based system. And yes, they allow recessions to happen.
Speaker 1: Yes they allow crashes to happen, but that is actually good.
Speaker 1: It allows them to reset things. Now, it hurts people economically,
Speaker 1: you know, they lose jobs, companies go out of business
Speaker 1: and much more. But understand how the game is played
Speaker 1: and positioning yourself and have the macro view. And you know,
Speaker 1: as far as Bigcoin's concern, Michael Sailor and other folks
Speaker 1: are accumulating. So Salor announced today that Strategy has acquired
Speaker 1: twenty two, three hundred and thirty seven bitcoin for approximately
Speaker 1: one point five seven billion dollars at an approximate price
Speaker 1: of seventy one hundred and ninety four dollars, so he
Speaker 1: continues to buy the Japanese version of micro strategy, which
Speaker 1: is meant a planet. They have raised two hundred and
Speaker 1: fifty five million dollars and have added warrant structure for
Speaker 1: Bitcoin buy so they're raising capital to go buy more bitcoin.
Speaker 1: And on the ethereum front, Tom Lee's Bitmind has bought
Speaker 1: more Bigcoin, so their treasury is now up to four
Speaker 1: point six million ETH, which is wild. I believe they
Speaker 1: continue to hold the record for being the largest eth
Speaker 1: digital ascid treasury company. So Tom Lee gave an update
Speaker 1: and he said they bought five thousand eath directly from
Speaker 1: the Theorem Foundation, So it's incredible the amount of buying
Speaker 1: that's happening. So this seems like it's gonna work out
Speaker 1: because I believe the market bottom is in, if not
Speaker 1: very close, right, I've been talking about a relief rally,
Speaker 1: then a rollover to possibly lower lows. Bitcoin goes to
Speaker 1: the fifty k's eth obviously, and the alto will bleed
Speaker 1: out more. But if you're buying these prices, it's the
Speaker 1: bottom zone. No one can exactly call the bottom, but
Speaker 1: this is not a bad place to be buying. Even
Speaker 1: if you get another ten percent downturn or fifteen percent,
Speaker 1: still really good if you think about the cyclicality of
Speaker 1: markets and that if you're paid and you have the
Speaker 1: longer term view, by twenty twenty seven, we're going to
Speaker 1: be at higher prices and things along those lines. Even Blackrock,
Speaker 1: you know their ETF inflows have increased. They bought another
Speaker 1: eight five hundred and eighty bitcoin last week, so inflows
Speaker 1: every day for the first time since October. So as
Speaker 1: far as the weekly perspective is concerned, So starting to
Speaker 1: see recovery here on multiple fronts now, folks. A great
Speaker 1: place where you can buy crypto as well as precious
Speaker 1: metals like gold and silver is at I Trust Capital.
Speaker 1: I Trust Capital offers a unique way of investing by
Speaker 1: doing it via an IRA, which gives you huge tax benefits.
Speaker 1: So you can access over eighty crypto assets bitcoin, xrp Theorem,
Speaker 1: Salona and much more, plus gold and silver in this IRA.
Speaker 1: So again if you have a long term view on
Speaker 1: these assets, but doing it through the IRA gives you
Speaker 1: the tax benefits because many of you know you incur
Speaker 1: capital gains tax when you sell for a profit right
Speaker 1: and if you have an existing IRA or for one kit,
Speaker 1: you can simply roll it over to the I Trust
Speaker 1: IRA account and you can buy and sell twenty four
Speaker 1: to seven. It's low costs, there are no monthly fees.
Speaker 1: They also offer a great option as far as custody.
Speaker 1: So I Trust Capital uses coinbased prime, fidelity, digital assets, fireblocks,
Speaker 1: and others for its custody is diversified and they're using
Speaker 1: tier one custodial options. So we know black Rock uses
Speaker 1: coinbas prime. So this I believe is the second safest
Speaker 1: way behind self custody to custody your assets. So it's
Speaker 1: a closed loop system. If someone hacks into your account,
Speaker 1: they cannot withdraw any funds and you can buy and
Speaker 1: sell the crypto twenty four to seven. So great option here.
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Speaker 1: so check it out. Link would be in the description. Okay,
Speaker 1: moving ahead, we got more news of crypto adoption by
Speaker 1: traditional financial companies. So tro price files and Amendment number
Speaker 1: two for its active crypto ETF which will track multiple
Speaker 1: assets including bitcoin, etheroreum, XRP, Lightcoin, and siba Inu, among
Speaker 1: other assets. So it's great to see these folks are
Speaker 1: building on rams and we know many of them have
Speaker 1: been around for a long time before crypto. They have
Speaker 1: their customer base millions and millions of people, they have
Speaker 1: the brand, and they can go and say, hey, you
Speaker 1: want to get access to crypto, here you go. And
Speaker 1: of course with these ETFs, especially the spot ETFs, they
Speaker 1: actually have to buy the assets. So this is all
Speaker 1: very bullish. Moving ahead, crypto wealth platform ABRA plans to
Speaker 1: go public via a seven hundred and fifty million dollars
Speaker 1: SPAC merger with New Providence Acquisition Corp. Three, listing on
Speaker 1: the NASDAC under the ticker ABRX. The deal could deliver
Speaker 1: approximately three hundred million dollars cash for expansion into institutional lending,
Speaker 1: yield and custody. Many of you may recall I usually
Speaker 1: have Bill Barheight on maybe once a year. He's the
Speaker 1: founder and CEO of ABRA, and they've been around for
Speaker 1: a long time. They've gone through, you know, different ups
Speaker 1: and downs, but they're doing pretty well and it looks
Speaker 1: like they're ready to go public. So this is a
Speaker 1: good sign if companies are looking to go public at
Speaker 1: this point that you know this rally may continue, because look,
Speaker 1: they're not gonna look to go public when prices are dumping.
Speaker 1: They're gonna want to go when it's up and people
Speaker 1: get more bullish. I hope you understand how this all
Speaker 1: works in markets. So very good sign overall. And we
Speaker 1: are just seeing crypto companies go public, expanding, mergers, acquisitions,
Speaker 1: all big stuff for the continual growth of the market.
Speaker 1: All right, moving ahead. Iron Light raises twenty one million
Speaker 1: dollars to scale marketplace for tokenized securities. So iron Light
Speaker 1: Group has raised twenty one million dollars in a series
Speaker 1: A round to expand infrastructure for tokenized securities, including scaling
Speaker 1: its alternative trading system and technology platform for issuing, distributing,
Speaker 1: and trading digital securities. The privately held companies said. The
Speaker 1: round included backing from institutional investors and financial services executives,
Speaker 1: led by TD Bank President and CEO Greg Broka, along
Speaker 1: with the SAY Development Foundation. So many of you may
Speaker 1: be familiar with the SAY blockchain. I personally don't hold
Speaker 1: a token, but it's certainly been making a lot of progress,
Speaker 1: So the funds will be used to expand iron Light's
Speaker 1: marketplace infrastructure for tokenized assets, including the iron Light Market's
Speaker 1: alternative trading system and its settlement platform. The company operates
Speaker 1: a broker dealer and alternative trading system for digital and
Speaker 1: traditional securities under SEC regulation ATS and finnraw oversite. So
Speaker 1: we continue to see the building out of the infrastructure
Speaker 1: for tokenized securities and other assets. And it's what we've
Speaker 1: been talking about for years on this podcast. We are
Speaker 1: headed to the token economy, and as I've been saying
Speaker 1: for the Billy, in time, the future, capital markets, economies,
Speaker 1: and governments will all run on blockchain rails. That is
Speaker 1: where we're headed to. Okay, moving ahead. South Korea's Hana
Speaker 1: Financial partners with Standard Chartered on digital assets. So big
Speaker 1: partnerships are happening here. Hana Financial, one of South Korea's
Speaker 1: largest financial conglomerates, has partnered with Standard Chartered on finance
Speaker 1: and digital assets. On Sunday, Hana Financial set it's signed
Speaker 1: a business agreement with the United Kingdoms Standard Chartered Group
Speaker 1: for cooperation with global financial business and digital assets feels
Speaker 1: on Hop News reported the agreement covers collaboration in various
Speaker 1: global financial sectors, including investing, banking, money markets, foreign exchange,
Speaker 1: and digital assets. Here's a quote. We will create new
Speaker 1: growth both opportunities by generating synergies in future financial areas,
Speaker 1: including digital assets. On a financial chairman ham Young Jews said,
Speaker 1: I hope you pronounced his name, adding that the companies
Speaker 1: aim to deploy their extensive networks and diverse financial expertise.
Speaker 1: So again, guys, the building continues, partnerships, companies going public,
Speaker 1: expansions globally, raising capitals. Pretty incredible stuff. And of course
Speaker 1: part of what's going to drive the adoption is legislation clarity. Obviously,
Speaker 1: here in the United States we're waiting for the Clarity
Speaker 1: Act to pass. That that may happen this year or
Speaker 1: it may not. We're going to have to wait and see.
Speaker 1: But nevertheless, the ball is rolling globally. And here's another example.
Speaker 1: Australian Senate committee backs crypto platform licensing bill. So Australia's
Speaker 1: Senate Economics Legislation Committee has backed a bill that would
Speaker 1: require crypto exchanges and tokenization platforms to comply with the
Speaker 1: country's existing Financial Service is regime, recommending that corporation's Amendment.
Speaker 1: Digital Assets Framework Bill twenty twenty five be pass The
Speaker 1: move on March sixteenth brings Australia a step closer to
Speaker 1: a bespoke licensing framework for digital asset platforms and tokenized
Speaker 1: custody platforms, aimed at closing gaps in oversight of platforms
Speaker 1: that hold customer assets following the collapses of high profile
Speaker 1: digital asset businesses such as FTX. So again, guys, globally,
Speaker 1: everybody is embracing the industry. They're putting out the rules
Speaker 1: and regulations and yes, some are still in the process
Speaker 1: of getting stuff done. They got to put the legislation together,
Speaker 1: they got to talk to the industry. They're going to
Speaker 1: be back and forth. They're going to do different drafts, right,
Speaker 1: there's going to be discussions, but eventually they're going to
Speaker 1: get it passed. And again we're just seeing it happen globally,
Speaker 1: and even from countries you wouldn't necessarily think would be
Speaker 1: very pro crypto of very advance in technology, they're doing
Speaker 1: it right. Sometimes it's like Coazakhstan or this country that
Speaker 1: you know, you don't really hear about, and they're all
Speaker 1: setting up their regulatory framework to embrace the Technology and
Speaker 1: Acid Claus final news item here. This is a weird
Speaker 1: one because I never heard of this company and battle
Speaker 1: crypto lender block Fills files for bankruptcy in the US.
Speaker 1: Now again, I've never heard of this firm. I don't
Speaker 1: know who's been using it, but apparently it seems like
Speaker 1: it's more on the institutional side and they're a crypto
Speaker 1: lending platform. But it's given me deja vus. I'm sure
Speaker 1: many of you remember block Fi as well as Celsius
Speaker 1: back in twenty twenty two when you had those collapses
Speaker 1: and a lot of lending problems with Genesis Trading and Gemini,
Speaker 1: and it was a mess, right, But I think we've
Speaker 1: put those things behind this. But I think overall, a
Speaker 1: lot of companies, crypto companies fared well in this bear
Speaker 1: market because I think everybody was much more prepared. You know,
Speaker 1: the bad actors have been weeded out for the most part.
Speaker 1: I'm not saying block Fields is a bad actor. Maybe
Speaker 1: their business was just simply not ran well. But it
Speaker 1: seems here that they've had to file bankruptcy, and this
Speaker 1: is a casualty of the bear market. Right. So in
Speaker 1: the filing, block Fils estimated it had assets between fifty
Speaker 1: to one hundred million dollars and estimated liabilities between one
Speaker 1: hundred million to five hundred million. So you know, if
Speaker 1: you've used this platform, please let me know, because this
Speaker 1: is the first time I'm hearing of them. I don't
Speaker 1: think they're that big. I think they're a very small firm,
Speaker 1: but it seems like they had a lot of funds
Speaker 1: here and hopefully with bankruptcy, you know, customers are made
Speaker 1: whole and so forth. I do believe that you know,
Speaker 1: new rules on the SEC and much more and all
Speaker 1: these things. It should help with all these things, resolving
Speaker 1: all these things, and hopefully it's not too bad. But yeah,
Speaker 1: sucks to see this happen. But these are things that
Speaker 1: happen in the bear market, right, even if it's non
Speaker 1: crypto and the regular stock market, you often hear companies
Speaker 1: filing from bankruptcy and much more so. It is what
Speaker 1: it is, folks, that's the news. Let me know what
Speaker 1: you think. Leave your thoughts in comments below, hit the
Speaker 1: thumbs up button. Subscribe if you haven't as yet, be
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Speaker 1: the description. As I mentioned earlier, I put out a
Speaker 1: write up today, so go check it out, guys. You
Speaker 1: can take your time and read through it. I put
Speaker 1: a lot of chart and metrics information in there, so again,
Speaker 1: be sure to sign up, and be sure to grab
Speaker 1: a copy of my book on Amazon that's available in
Speaker 1: paperback in digital. And if you want to expand your
Speaker 1: knowledge about crypto and blockchain technology and get a full understanding,
Speaker 1: well I have a comprehensive course for you. It's at
Speaker 1: Mycrypto course dot com. This is a course I put together,
Speaker 1: features videos, text write ups, downloadable materials. You're going to
Speaker 1: hear from experts, people who are actually building and investing
Speaker 1: in crypto, such as institutional investors. So check it out, guys.
Speaker 1: This is a comprehence of course. It teaches you everything
Speaker 1: you need to know. All the links will be in
Speaker 1: an inscription. Folks, thank you so much for tuning in.
Speaker 1: I appreciate you all, and I'll talk to you all
Speaker 1: later