Speaker 1: Bitcoin and all coins are cooling down their bull run.
Speaker 1: What will happen next and could we see a recovery
Speaker 1: next week? I'll share some charts with you guys, and
Speaker 1: a major Wall Street firm, Cancer Fitzgerald, is buying a
Speaker 1: steak in Tether, the world's largest stable coin issuer, and
Speaker 1: could we see quantitative easing start again come January? While
Speaker 1: signals are from the new Secretary of Treasury are yes.
Speaker 1: So let's get into it. Hey, everybody, welcome into the
Speaker 1: Thinking Crypto podcast. You're home for cryptocurrency news and interviews.
Speaker 1: I'm your host, Tony Edward on your weight in. Please
Speaker 1: hit that subscribe button as well as the thumbs up
Speaker 1: button and leave a comment below. If you're listening on
Speaker 1: a podcast platform such as Spotify or Apple, please leave
Speaker 1: a five star rating and review. Folks, Bitcoin and the
Speaker 1: all coins are seeing a pullback, and it's actually a
Speaker 1: very healthy pullback When you look at the charts. Bitcoin
Speaker 1: is currently in the overbought zone from the RSI standpoint,
Speaker 1: so anything above seventy is overbought, anything below thirty is
Speaker 1: over sold. So in the overboughd zone, you can expect
Speaker 1: pullbacks and corrections. Now that doesn't mean Bitcoin's going to
Speaker 1: crash to seventy thousand dollars tomorrow. We have to see
Speaker 1: how it plays out, right. We gotta let the market
Speaker 1: prove itself and show us what it wants to do.
Speaker 1: So any type of consolidation here is very healthy in
Speaker 1: order for us to push higher. And also keep in
Speaker 1: mind that one hundred thousand dollars is a psychological barrier
Speaker 1: or resistance, and we're gonna have to build support levels
Speaker 1: to smash through that. I think we will, and it
Speaker 1: could possibly happen next week. I have the thesis that
Speaker 1: bitcoin whales want to have bitcoin hit one hundred thousand
Speaker 1: dollars around Thanksgiving so that the dinner table conversation will
Speaker 1: be around crypto. And we've seen historically that kicks off
Speaker 1: a big retail fomo. So I think the whales, the
Speaker 1: market makers, know what they're doing here. Now I could
Speaker 1: be wrong. You know, the thesis may not be something
Speaker 1: that plays out, but we'll see. I think it has
Speaker 1: a high probability of playing out. When you look at
Speaker 1: bitcoin on the monthly, it's also in the overbought zone,
Speaker 1: so some sort of cool down is needed here. Once again,
Speaker 1: it doesn't mean that Bitcoin has to dump tomorrow. Even
Speaker 1: next week, it can go a bit higher. It could
Speaker 1: smash through one hundred thousand, then do its big correction,
Speaker 1: and that doesn't mean the bullmarket's over. It's just these
Speaker 1: things are normal in a bullmarket cycle. You go back
Speaker 1: in history and you look at the charts. Nothing goes
Speaker 1: up in a straight line. There will be corrections and
Speaker 1: sometimes deep ones thirty percent, forty percent. I've experienced those.
Speaker 1: And if you don't understand the indicators, the markets, the technicals,
Speaker 1: and so forth, it can shake you out. So this
Speaker 1: is why we have to pay attention to the data
Speaker 1: and not our feelings and our emotions. So if you
Speaker 1: look at coin market cap, you know a lot of
Speaker 1: all coins are pulling back. And let's use XRP as
Speaker 1: an example. It was at a dollar sixty cents right
Speaker 1: a couple of days ago. Now it's at a dollar
Speaker 1: thirty nine, and you look at its chart on the daily,
Speaker 1: the RSIs and the overbod zone, so you can see
Speaker 1: that natural pullback very healthy. Nothing goes up in a
Speaker 1: straight line, so we have to be patient. We have
Speaker 1: to go through the cycles, and remember theset levels that
Speaker 1: are being built are very important. For us to hit
Speaker 1: higher prices, because it's not sustainable to keep going parabolic
Speaker 1: every day, every week, every month. That is not realistic, right, guys,
Speaker 1: So keep these things in the back of your mind.
Speaker 1: Look at the charts, look at the different indicators, so
Speaker 1: that you're not moving by your emotions now. Analysts wreck
Speaker 1: Capital highlighted following about Bitcoin's current pullback. He said, understandably,
Speaker 1: Bitcoin is finding some resistance at the major psychological level
Speaker 1: of one hundred thousand dollars. Does Bitcoin need to experience
Speaker 1: a dip having only broken out from a sideways range
Speaker 1: some five days ago. It's debatable, However, at this time,
Speaker 1: the worst case scenario is that Bitcoin could dip up
Speaker 1: to eight point five percent into the old resistance of
Speaker 1: ninety one thousand dollars for a post breakout retest. For context,
Speaker 1: bitcoin experience a seven percent dip some ten days ago.
Speaker 1: Bitcoin could of course produce a much shallower dip, but
Speaker 1: the key takeaway is that dips are a natural part
Speaker 1: of the process and dips precede further upside. So, guys,
Speaker 1: I think we can hope that this dip, maybe it
Speaker 1: continues into tomorrow and it finds some sort of bottom
Speaker 1: and then come let's say Wednesday, it starts moving bitcoin
Speaker 1: smashes through one hundred k on Thanksgiving or on Friday,
Speaker 1: whatever it may be, and retail fomo starts again. We
Speaker 1: go into December very strong, and then there could be
Speaker 1: another pullback in the middle of December or late December.
Speaker 1: So these are the different scenarios you want to think about.
Speaker 1: Because no one has a crystal ball here, and we
Speaker 1: look at the charts, we wait to see what it
Speaker 1: tells us, and we form our thesis. Now, of course,
Speaker 1: there are some people who are shouting from the hills,
Speaker 1: Oh we're at the top. See I told you guys,
Speaker 1: blah blah blah, right, but they never show you quality
Speaker 1: metrics or signals. So based on historical patterns, we are
Speaker 1: not near the top. And multiple charts and data points
Speaker 1: show us that even the all cooin market cap hasn't
Speaker 1: even touched its old all time high set back in
Speaker 1: twenty tw one, so we're nowhere near that. One of
Speaker 1: the indicators I like to use is the Pice cycle
Speaker 1: top indicator for bitcoin. It's nowhere near to flashing. Also,
Speaker 1: watching what the bitcoin whales are doing, they continue to accumulate,
Speaker 1: so data from sentiment shows while it's with ten plus,
Speaker 1: bitcoin continues to increase, so they are buying. In addition,
Speaker 1: bitcoin supply and exchanges continues to go down. That means
Speaker 1: that they're not moving coins onto the exchanges to sell.
Speaker 1: We saw that actually back in March and April and
Speaker 1: May of this year when it was the buyer rumor
Speaker 1: sell the news event with the bitcoin ETFs. So these
Speaker 1: are the different things you want to look at. It
Speaker 1: tells the story about what's happening in the market. And look,
Speaker 1: whales are the ones who controlled the market for the
Speaker 1: most part. Yes, retail comes in, but the whales are
Speaker 1: the ones who set up the whole movement, like it
Speaker 1: or not. So we are seeing they are buying and
Speaker 1: they are not selling. And this is also happening on
Speaker 1: the ETF side. Socoin join spot ets bought around thirty
Speaker 1: four eight hundred and sixty bitcoin this past week and
Speaker 1: only three one hundred and fifty bitcoin were mind guys,
Speaker 1: this is why you want to be on the side
Speaker 1: of smart money and looking at data and all these
Speaker 1: different things. It's amazing what's happening. And one of the
Speaker 1: things I often share with you guys is stable coin
Speaker 1: liquidity because that liquidity goes into the market to bitcoin
Speaker 1: and all coins. Well, Tether today minted two billion in USDT.
Speaker 1: Guys over the past six to seven days, they've minted
Speaker 1: about seven billion in USDT. If you follow whale alerts
Speaker 1: on Twitter, you will see the same data. You can
Speaker 1: go check the transaction on the blockchain. They continue to
Speaker 1: mint a lot, and that's because a lot of whales
Speaker 1: go through using stable coins, both USDT, USDC and more.
Speaker 1: And we continue to see the narrative is changing around crypto. Folks.
Speaker 1: Look at the cover of The Times, which is a
Speaker 1: newspaper out of the UK. The headline here is should
Speaker 1: pension funds invest in crypto? How times have changed? Folks?
Speaker 1: How times have changed? It's amazing. There's both a global
Speaker 1: competition and conversation happening about the integration of bitcoin and crypto.
Speaker 1: Bitcoin as a reserve asset here in the United States.
Speaker 1: Some countries have made bitcoin I legal tender, Some are
Speaker 1: buying it and adding to their balance sheet. And we
Speaker 1: are just seeing movement towards crypto with the adoption regulation
Speaker 1: and much more. They're not banning it. No one's calling
Speaker 1: it a fad anymore. Notice how that fud has disappeared. Right,
Speaker 1: No one's saying, Oh, it's a fad, Oh it's a
Speaker 1: pet rock, right, Jamie dive, it's a pet rock. You
Speaker 1: don't hear him saying those things anymore. So pretty incredible stuff. Now, guys,
Speaker 1: I want to share something from macro investor ral Palell.
Speaker 1: Now we know Donald Trump assigned Scott Piscent as the
Speaker 1: new Treasury secretary. He's very pro crypto in reporting that
Speaker 1: news to you guys. This week, I shared a clip
Speaker 1: of him speaking about crypto, and Raoul actually knows Scott,
Speaker 1: so he tweeted the following, Scott Piscent, the new Treasury
Speaker 1: Secretary is in favor of a weaker dollar and lower
Speaker 1: oil prices to drive US and global growth. That is
Speaker 1: all you need to know. It will drive financial conditions, Taildr.
Speaker 1: Scott is good for your bags. I've known him for
Speaker 1: over a decade and he gets it. Raul continued here,
Speaker 1: saying at tad deeper, he understands that we have to
Speaker 1: try to goose GDP to grow out of debt. I
Speaker 1: think it fails due to long term demographics until AI
Speaker 1: plus robots. Even so, we still have to roll ten
Speaker 1: trillion dollars issh of debt. So we need to lower
Speaker 1: rates in twenty twenty five before growth can kick in.
Speaker 1: So let's talk about the major takeaways here. Scott percent
Speaker 1: is a billionaire. He's been investing. I think he's been
Speaker 1: in the hedgehund space. That's probably why he knows ral Palell.
Speaker 1: He's bullish on crypto and he believes in a weaker dollar.
Speaker 1: What have we seen historically the DXY, the dollar currency index,
Speaker 1: when it is crashing, there's an inverse correlation between bitcoin
Speaker 1: in risk assets and the dollar. Now, I know some
Speaker 1: of you're gonna say, Tony, have you looked at the
Speaker 1: DXY chart? Recently? Risk assets have been pumping along with
Speaker 1: the d x Y, and I believe that's an anomaly, Folks, don't.
Speaker 1: I'm not too sure what's happening here, But if you
Speaker 1: look at the historical patterns going back to multiple bull
Speaker 1: market cycles, d x Y is crashing bitcoin and risk
Speaker 1: assets are going up. That has been the correlation. And
Speaker 1: I think this anomaly, this outlier here, it will correct itself.
Speaker 1: And we're actually seeing the DXY starting to break down here.
Speaker 1: It has been in the overbought zone as well, so
Speaker 1: let's see, it's it's weird times with these assets, and
Speaker 1: it could be just because of the election and the
Speaker 1: shift and some macro factors and more, and maybe investors
Speaker 1: are front running the collapse of the d x Y
Speaker 1: and you know, markets are for looking. I'm going to
Speaker 1: try to see if I can get some experts to
Speaker 1: come on the podcast to talk about this. But this
Speaker 1: is unique and if you go look at the charts yourself,
Speaker 1: you will see that inverse correlation from multiple bull market
Speaker 1: cycles in addition with the stock market. So it's really
Speaker 1: weird that the x Y has been pumping with this.
Speaker 1: But to Ral's point, Scott and the Trump administration and
Speaker 1: so forth, they're going to look to have a weeker
Speaker 1: dollars so assets take off and I think they're going
Speaker 1: to start a money printer again. Guys. QWI is going
Speaker 1: to come back, so very insightful posts here from Ral
Speaker 1: and you know as far as what we can expect allorry, guys.
Speaker 1: Final news item here. We got a report today that
Speaker 1: Cancer Fitzgerald has agreed to acquire five percent stake in
Speaker 1: Tether for up to six hundred million dollars. And if
Speaker 1: you know, the CEO of cantor Fitzgeral is Howard Lutnik.
Speaker 1: He was just appointed as President elect Donald Trump's Secretary
Speaker 1: of Commerce. We know that Lutnik has been very close
Speaker 1: to Donald Trump, part of the transition team. Lutnik was
Speaker 1: at the Bitcoin conference talking about their bullish on bitcoin.
Speaker 1: They own a lot of bitcoin. At Davos earlier this year,
Speaker 1: he mentioned that they were working with Tether and that
Speaker 1: Tether had the reserves, they had the money, so very
Speaker 1: big move. And this type of news continues to silence
Speaker 1: the fludsters, people who continually spread foot about Teather. And
Speaker 1: I've been on record in the past that I believe
Speaker 1: Teather was not in good shape years ago. I think
Speaker 1: now that is not the case. Their ship is in
Speaker 1: order and they're working with some of the biggest firms
Speaker 1: in the world. But the larger theme here, if you
Speaker 1: step back, it's the Wall Street takeover. Guys. Look at this.
Speaker 1: This is a major Wall Street firm, and I think
Speaker 1: they'll probably want a bigger steak eventually. But just look
Speaker 1: the ETFs being issued by all the Wall Street toganization.
Speaker 1: They want to take over the stable coin issuers. This
Speaker 1: is why Gary Ginser was weaponized to kill the coin bases,
Speaker 1: the ripples and so forth, so that his buddies on
Speaker 1: Wall Street, Goldman, Sachs and all these guys can come
Speaker 1: in and take over. But very big for Teather and
Speaker 1: very big for the future growth of this market. Cantor
Speaker 1: is a very big firm and they do a lot
Speaker 1: in the markets, guys, So huge, huge news here, in
Speaker 1: my opinion, I'm going to try to get the CEO
Speaker 1: of Tether back in the podcast to talk about these things.
Speaker 1: But let me share some notes on the article. It
Speaker 1: could mean Tether receives more political support as Canter. Fitzgerald's CEO,
Speaker 1: Howard Lutnik, was selected as the United States President elect
Speaker 1: Donald Trump's Secretary of Commerce on November nineteenth. Gian Carlo
Speaker 1: de Fasani, suspected to be the largest shareholder Tether, reportedly
Speaker 1: said words to the effect of Lutnik will use his
Speaker 1: political clout to try to diffuse threats facing Tether. The
Speaker 1: Wall Street Journal claim very very interesting, guys, but the
Speaker 1: larger theme once again you step back, it's the Wall
Speaker 1: Street takeover. So you can see where things are headed, folks.
Speaker 1: Let me know what you think about this news. Lead
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