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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 way in. Please hit that subscribe button as

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<v Speaker 1>well as the thumbs a button and leave a comment.

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

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<v Speaker 1>Spotify or Apple, please leave a five star reading and review. Okay, folks,

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<v Speaker 1>let's quickly take a look at the price of bitcoin

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<v Speaker 1>right now at seventy seven, seven hundred and twenty five dollars.

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<v Speaker 1>So if we look at the daily RSI, it is

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<v Speaker 1>extremely oversold. It is in the red zone. You know,

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<v Speaker 1>when you are overbought around seventy as far as the

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<v Speaker 1>RSI and then you go above seventy it turns green,

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<v Speaker 1>so you're extremely overbought. Well, right now, the opposite is happening.

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<v Speaker 1>So as we've been talking about, and as I highlighted

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<v Speaker 1>in my newsletter today, we could see a reversal. How

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<v Speaker 1>high this reversal takes us, I don't know. We're going

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<v Speaker 1>to have to wait and see because there's a lot

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<v Speaker 1>of fud, there's a lot of despair out there. But look,

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<v Speaker 1>the market conditions are setting up for a major move

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<v Speaker 1>because you have extreme fear, you have whales accumulating, you

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<v Speaker 1>have the markets in the extreme oversold both on the

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<v Speaker 1>daily and weekly. So all of these things bode well.

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<v Speaker 1>In fact, there was some very good economic data today

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<v Speaker 1>with the ISM manufacturing PMI at a forty month high,

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<v Speaker 1>so it came in higher and expected and the correlation.

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<v Speaker 1>You know, you may be saying, what the hell is this,

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<v Speaker 1>What does this have to do a bitcoin? Well, typically

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<v Speaker 1>that's an indication of liquidity. It's making its way through

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<v Speaker 1>the economy. Things are starting to pick up again. And

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<v Speaker 1>when that is happening, then you see bitcoin and the

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<v Speaker 1>crypto acid class go and a major run This is

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<v Speaker 1>based on data now, right, So if you align the

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<v Speaker 1>charts with Bitcoin's peaks and when the ISM was climbing

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<v Speaker 1>higher and higher, that you know was certainly conditions that

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<v Speaker 1>were very good for the market. And if you think

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<v Speaker 1>about it economically the way we would look at a

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<v Speaker 1>parabolic run up where you have a lot of fomo

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<v Speaker 1>from retail people are buying all coins and so forth.

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<v Speaker 1>In a good economic environment, that's where you can have

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<v Speaker 1>those things happening when money is easy and so forth, Right,

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<v Speaker 1>and we're on the path of that. So It's funny

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<v Speaker 1>the ism is increasing, right as soon as the Fed

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<v Speaker 1>just paused QT and start a Q in December, and

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<v Speaker 1>we know they've been buying treasury bills and all that, right,

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<v Speaker 1>So funny how the correlation works. Again, this is just

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<v Speaker 1>the data. So if you want to argue data, go ahead,

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<v Speaker 1>but I'm just giving you guys the facts. So it's interesting.

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<v Speaker 1>And in fact, over the past two years, the ism

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<v Speaker 1>was not in a good place. It was starting to

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<v Speaker 1>get better in twenty twenty four, but the bitcoin and

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<v Speaker 1>a crypto market have been operating under an ism that

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<v Speaker 1>is not being great. So it was really good to

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<v Speaker 1>see that this is picking up. That doesn't mean Bigoin's

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<v Speaker 1>going to pump tomorrow, right, It's a process here and

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<v Speaker 1>we're seeing the right things and this should be very

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<v Speaker 1>good for the crypto acid class as as risk assets here.

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<v Speaker 1>One user named Jesse equal on XSet or explained it

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<v Speaker 1>saying every single crypto bull RP ever twenty thirteen, twenty seventeen,

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<v Speaker 1>and twenty twenty one happened when the ism moved up

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<v Speaker 1>above fifty. Today we hit fifty two point six. This

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<v Speaker 1>entire cycle since twenty twenty one, we've been below fifty

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<v Speaker 1>with only tiny blips above the surface. This is by

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<v Speaker 1>far the largest move up we've had this cycle run

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<v Speaker 1>it hot, so not guaranteed, right, but at least we're

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<v Speaker 1>using data, not feelings and emotions. So this is a

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<v Speaker 1>very good sign. And you know, other folks like Ral Powell,

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<v Speaker 1>macro investor, you know, he's been highlighting this global liquidity

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<v Speaker 1>to ism and all these things and how it's risk

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<v Speaker 1>gone when everybody has money and they feel confident in

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<v Speaker 1>the economy and much more. Right, So one could argue

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<v Speaker 1>we've been in a recession and maybe we're coming out

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<v Speaker 1>of it now. I don't know. You know, we're gonna

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<v Speaker 1>have to wait and see. Now, I do want to

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<v Speaker 1>highlight something here. There's an Elliot wave chart analysis that

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<v Speaker 1>was put together by one user, and you know he

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<v Speaker 1>highlighted that by Elliott wave, a potential scenario, now a

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<v Speaker 1>potential not guaranteed, is that we bottom out around seventy

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<v Speaker 1>K and that would be part of an A wave

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<v Speaker 1>to a B wave top of a one hundred and

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<v Speaker 1>fifty five K or so, and then a C wave

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<v Speaker 1>down to thirty seven thousand, seven hundred and fifteen dollars.

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<v Speaker 1>So that's a possibility. So there's still the possibility of

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<v Speaker 1>this happening. But look, there's a bearish case this. People

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<v Speaker 1>are saying, hey, we're going to go down to fifty

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<v Speaker 1>ak like Peter Brand and others. Right, So let's see,

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<v Speaker 1>it's hard to sometimes, you know, understand the motivations behind

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<v Speaker 1>certain people, because some folks are shortening the market, so

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<v Speaker 1>they're going to say outlandish things and so forth. I'm

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<v Speaker 1>just giving you both scenarios. I'm just highlighting that I

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<v Speaker 1>personally don't know what's going to happen. We have the

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<v Speaker 1>wave from confirmation from the market, but I'll at least

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<v Speaker 1>give you the scenarios that could potentially play out so

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<v Speaker 1>that you can be as educated and informed as possible.

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<v Speaker 1>So we shall see. Now, Binance buys the dip with

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<v Speaker 1>the first one hundred million dollar bitcoin purchase on the

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<v Speaker 1>one billion dollar SAFU fund. So I reported this to

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<v Speaker 1>you guys, you know, over the weekend, and that Binance

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<v Speaker 1>was going to buy a billion dollars of bitcoin over

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<v Speaker 1>the next thirty days. So they've kicked it off, and

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<v Speaker 1>you know, some people saying, yeah, but they're dumping, you know,

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<v Speaker 1>a whole bunch of stuff on their exchange. But look,

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<v Speaker 1>it is what it is at this point. I think

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<v Speaker 1>Binance is simply playing the market cycles and people are

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<v Speaker 1>seeing that and they're getting upset. But they're operating with

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<v Speaker 1>the market makers, right, and not a lot of people

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<v Speaker 1>understand that. However, there are some things people call out

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<v Speaker 1>binance war with coins, pumps and dumps and all that

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<v Speaker 1>wash trading and so forth, and I'm not knowledgeable enough to,

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<v Speaker 1>you know, kind of go through that. I'm going to

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<v Speaker 1>try to bring experts on to talk about this. So

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<v Speaker 1>but anyway, they're gonna be buying bitcoin, and they've already

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<v Speaker 1>started that now. Michael Sailors Strategy bought more Bigcoin, so

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<v Speaker 1>he announced today that they bought eight hundred and fifty

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<v Speaker 1>five bitcoin at about eighty eight thousand dollars each last week.

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<v Speaker 1>So he continues to buy. We'll see how this all

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<v Speaker 1>works out for him. Moving ahead, one of Germany's largest

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<v Speaker 1>retail broker IG now allows clients to buy bitcoin ETPs.

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<v Speaker 1>So the on ramps being built across the globe. Beer

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<v Speaker 1>ETPs different financial products and it starts a bitcoin and

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<v Speaker 1>then it moves to all coins. So very good news here, folks.

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<v Speaker 1>the links will be in the description. Okay, folks. Today

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<v Speaker 1>was the Crypto and Banking meeting at the White House,

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<v Speaker 1>and apparently David Sachs, the crypto czar as they would

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<v Speaker 1>call them, was not in attendance, but the meeting was

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<v Speaker 1>led by the Crypto Council Executive Director Patrick quit Many

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<v Speaker 1>may recall interviewed Patrick in the fall of last year

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<v Speaker 1>at the chain Link conference. So Patrick, he took over

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<v Speaker 1>for beau Hines and he's been doing a great job.

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<v Speaker 1>So you had a lot of crypto companies, you had

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<v Speaker 1>the American Anchors Association, banking policy people and so forth.

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<v Speaker 1>And let me give you a rundown. So here's what

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<v Speaker 1>Patrick Witt said regarding the meeting. He said, sincere thanks

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<v Speaker 1>to the representatives from the crypto and banking industries who

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<v Speaker 1>participated in today's meeting on stable coin rewards and yield.

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<v Speaker 1>The discussion was constructive, fact based, and most importantly, solutions oriented.

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<v Speaker 1>Over the course of the past few months, we have

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<v Speaker 1>achieved breakthroughs on several seemingly intractable policy issues. I am

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<v Speaker 1>confident we will be able to resolve this one too,

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<v Speaker 1>So it's great that they're having the dialogue. And as continues,

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<v Speaker 1>we know the banks want to stop stable coin yield.

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<v Speaker 1>They don't like that you can go earn yield on

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<v Speaker 1>crypto platforms and exchanges like upholding coinbas and so forth.

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<v Speaker 1>And obviously I'm not a fan of that. I believe

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<v Speaker 1>consumers should have choice and if the crypto firms are

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<v Speaker 1>offering a better deal, let consumers go there, right. But

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<v Speaker 1>we know this is about the bonus checks, folks. These

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<v Speaker 1>banks don't want to lose that money. They want to

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<v Speaker 1>postucket it. Continue to give you zero point zero one percent,

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<v Speaker 1>you know, the breadcrumbs while they pocket big bonuses. Here's

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<v Speaker 1>what third party folks are saying about this meeting. So

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<v Speaker 1>Sander Lutz, who is a senior writer at the crypt

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<v Speaker 1>Media said new at the White House meeting today between

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<v Speaker 1>crypto and bank representatives. White House gave a deadline of

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<v Speaker 1>end of February to reach a deal on stable coin yield.

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<v Speaker 1>Sources familiar said, hard to see how the Market Structure

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<v Speaker 1>Bill could have a chance of passing this year. If

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<v Speaker 1>this issue isn't resolved by then, there will be future

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<v Speaker 1>meetings which will be smaller. Banks are pretty adamant about

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<v Speaker 1>closing the loophole though, aka preventing companies like coinbase from

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<v Speaker 1>offering users rewards on stable coin holdings, and Coinbase hasn't

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<v Speaker 1>shifted on its insistence that it should be able to

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<v Speaker 1>So this thing is still ongoing, folks, And in fact,

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<v Speaker 1>the bankers the American Bankers Association put out a press

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<v Speaker 1>release about this meeting today. Here's what Alex Thorn said

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<v Speaker 1>about this press release. He's the head of firm wide

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<v Speaker 1>research at Galaxy Digital, saying statement from the American Bankers

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<v Speaker 1>Association following the White House meeting on stable coin rewards.

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<v Speaker 1>It reads nice, but it doesn't really sound like they

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<v Speaker 1>are willing to compromise here. So again they're putting out

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<v Speaker 1>information there. They're even running ads, right. We saw the

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<v Speaker 1>Big Wall Street Journal poster so to speak, or front

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<v Speaker 1>page of with Brian Armstrong's you of coinbasing, he's the

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<v Speaker 1>enemy and all these things. So the bankers are starting

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<v Speaker 1>to go on the offensive here, putting out literature, running ads,

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<v Speaker 1>you know, running their propaganda guys. So I don't know, honestly,

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<v Speaker 1>how this resolves. You know, who's going to capitulate? Will

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<v Speaker 1>it be coin based in the crypto industry? I kind

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<v Speaker 1>of hope not. But also we want to get some

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<v Speaker 1>sort of bill through, maybe to some compromise. You know.

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<v Speaker 1>One of the things I had brought up to Summer Mersinger,

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<v Speaker 1>CEO of the Blockchain Association, when I interviewed her a

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<v Speaker 1>couple of weeks ago, was that could there be some

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<v Speaker 1>sort of timeline, like we're gonna say, okay, the crypto

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<v Speaker 1>industry folks can pause for six months and then started

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<v Speaker 1>back up again again. I'm just throwing stuff out there

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<v Speaker 1>for compromise wise, right, I'm not saying I like it.

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<v Speaker 1>I want that to happen. In addition, could they also say, hey,

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<v Speaker 1>we're gonna cap how much consumers can put into these accounts,

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<v Speaker 1>right temporarily not forever. So maybe it's a six month

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<v Speaker 1>thing or twelve month thing, right saying hey, over the

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<v Speaker 1>next twelve months, we're gonna cap it an X amount

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<v Speaker 1>of dollars the users can do again. I'm not supporting this,

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<v Speaker 1>I'm not saying I want this, but if this bill

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<v Speaker 1>is not going to make it through, we're gonna have

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<v Speaker 1>bigger problems. And my worry is that Elizabeth Warren is

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<v Speaker 1>ready for the mid term elections and we're seeing some

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<v Speaker 1>Democrats winning. Guys, those are the facts. And if the

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<v Speaker 1>Democrats get back power, which I'm not saying them against

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<v Speaker 1>or four, but if they it does happen, you know

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<v Speaker 1>who's going to get back the financial seat. Elizabeth Warren.

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<v Speaker 1>And you know what, she's gonna do, same thing she

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<v Speaker 1>did under Biden. And I'm not saying all Democrats are inticrypto.

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<v Speaker 1>Many are pro crypto. We saw this right, But Elizabeth Warren,

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<v Speaker 1>if she has that top seat again, you know the

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<v Speaker 1>rest of the party is not going to be able

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<v Speaker 1>to do much. They're going to have to kind of

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<v Speaker 1>stay quiet. We know how politics works, and they're not

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<v Speaker 1>gonna be able to go against her publicly. But we

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<v Speaker 1>got to get this bill through so that even if

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<v Speaker 1>the stable coin yield is missing, which I would hate

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<v Speaker 1>and not be happy about, still you know we would

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<v Speaker 1>still get at least the meat and potatoes of what

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<v Speaker 1>will help crypto. So I don't know what the compromise

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<v Speaker 1>is gonna be. Guys, we're gonna have to see. Maybe

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<v Speaker 1>the bank's capitulate, all right, we shall see, Okay, moving ahead,

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<v Speaker 1>this is an unusual piece of news. So bed Bath

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<v Speaker 1>and Beyond. Yes, bed Bath and Beyond signs an agreement

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<v Speaker 1>to acquire tokens dot Com, a real world asset finance

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<v Speaker 1>and tokenized liquidity platform. So I didn't have this in

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<v Speaker 1>my bingo cards. But there's stock jumped on the deal

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<v Speaker 1>to tokenize real estate with tokens dot Com. So this

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<v Speaker 1>is interesting. And guys, we know tokenizations in the future,

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<v Speaker 1>and they're gonna put all assets in real estate and

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<v Speaker 1>much more on the blockchain. Right, So Bedpath and Beyond

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<v Speaker 1>that it would acquire tokens dot Com and launch a

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<v Speaker 1>platform to let consumers tap home equity and other assets

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<v Speaker 1>through tokenization. The initiative marks the latest step in bed

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<v Speaker 1>Bath and Beyond post bankruptcy pivot into blockchain or financial

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<v Speaker 1>technology under chief executive Marcus Limonis, following its acquisition by

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<v Speaker 1>overstock dot Com. So that stock jumped seven percent today.

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<v Speaker 1>So very very interesting. You're just seeing some of the

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<v Speaker 1>most random companies almost getting into crypto because blockchain is

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<v Speaker 1>the future, right so tokens dot Com will use tools

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<v Speaker 1>from t zero to handle regulated trading and storage of assets.

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<v Speaker 1>It will also plug into Figure, the blockchain company of

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<v Speaker 1>former SOFI CEO Mike Cagney, to offer financial services like mortgages,

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<v Speaker 1>renovation loans, home equity, lines of credit. Folks, I think

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<v Speaker 1>this is a smart move what they're doing. Look, housing

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<v Speaker 1>is not going away, real estate's not going away. Just

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<v Speaker 1>all of these things are going to go on the blockchain.

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<v Speaker 1>So hopefully they can do it right and that could

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<v Speaker 1>work out really well for them. But it's great to

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<v Speaker 1>see big brands and companies like these, you know, recognizing

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<v Speaker 1>the technology in the future and getting ahead of the curve. Okay,

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<v Speaker 1>final news item, Parafy Capital makes a thirty five million

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<v Speaker 1>dollar investment in Solana based Jupiter. So capital continues to

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<v Speaker 1>be invested in crypto guys, which is a good sign.

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<v Speaker 1>So Jupiter said it has secured a thirty five million

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<v Speaker 1>dollar strategic investment from Parafy Capital, marking the first time

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<v Speaker 1>the Solana based unchained trading and liquidity aggregation protocol has

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<v Speaker 1>taken outside capital after years of being bootstrapped with profitable growth.

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<v Speaker 1>The transaction involved token purchases at market prices with no

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<v Speaker 1>discount and an extended lock up period, and was settled

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<v Speaker 1>entirely in Jupiter's jup usd stable coin. The company said.

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<v Speaker 1>Financial terms be on the thirty five million dollar investment,

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<v Speaker 1>we're not disclosed. So big win here for Jupiter, guys.

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<v Speaker 1>I don't hold the token or anything like that, but

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<v Speaker 1>it's certainly very good for the Salona ecosystem, which continues

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<v Speaker 1>to grow. So the investment comes as Jupiter has processed

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<v Speaker 1>more than one trillion dollars in trading volume over the

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<v Speaker 1>past year and expanded beyond swap routing into perpetuals lending

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<v Speaker 1>and stable coins. According to the company, The deal also

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<v Speaker 1>included warrants allowing Parafi Capital to acquire additional tokens at

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<v Speaker 1>higher prices, a structure the company said was intended to

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<v Speaker 1>reflect long term alignment. So big news here, and again,

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<v Speaker 1>you know, from a higher perspective or a higher view here,

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<v Speaker 1>this is really good to see capital still making this

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<v Speaker 1>way to crypto companies, tokens being bought, equity and all

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<v Speaker 1>these things. Folks. That's the news. Let me know what

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<v Speaker 1>you think. Leave your thoughts and comments below. Hit the

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<v Speaker 1>thumbs up button. Subscribe if you haven't as yet, and

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<v Speaker 1>It is one hundred percent free. Link will be in

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<v Speaker 1>the description. Again, I did a write up today, check

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<v Speaker 1>it out. I put a lot of chart and data

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<v Speaker 1>points in there. So this is a great way to

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<v Speaker 1>get educated about the market and what's happening. And again

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<v Speaker 1>blockchain and how to invest in things like that, then

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<v Speaker 1>much much more. So again, go to mycryptocurse dot com. Folks,

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

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