WEBVTT

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<v Speaker 1>Bitcoin and all coins are cooling down their bull run.

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<v Speaker 1>What will happen next and could we see a recovery

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<v Speaker 1>next week? I'll share some charts with you guys, and

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<v Speaker 1>a major Wall Street firm, Cancer Fitzgerald, is buying a

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<v Speaker 1>steak in Tether, the world's largest stable coin issuer, and

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<v Speaker 1>could we see quantitative easing start again come January? While

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<v Speaker 1>signals are from the new Secretary of Treasury are yes.

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<v Speaker 1>So let's get into it. Hey, everybody, welcome into the

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<v Speaker 1>Thinking Crypto podcast. You're home for cryptocurrency news and interviews.

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<v Speaker 1>I'm your host, Tony Edward on your weight in. Please

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<v Speaker 1>hit that subscribe button as well as the thumbs up

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<v Speaker 1>button and leave a comment below. If you're listening on

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<v Speaker 1>a podcast platform such as Spotify or Apple, please leave

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<v Speaker 1>a five star rating and review. Folks, Bitcoin and the

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<v Speaker 1>all coins are seeing a pullback, and it's actually a

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<v Speaker 1>very healthy pullback When you look at the charts. Bitcoin

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<v Speaker 1>is currently in the overbought zone from the RSI standpoint,

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<v Speaker 1>so anything above seventy is overbought, anything below thirty is

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<v Speaker 1>over sold. So in the overboughd zone, you can expect

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<v Speaker 1>pullbacks and corrections. Now that doesn't mean Bitcoin's going to

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<v Speaker 1>crash to seventy thousand dollars tomorrow. We have to see

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<v Speaker 1>how it plays out, right. We gotta let the market

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<v Speaker 1>prove itself and show us what it wants to do.

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<v Speaker 1>So any type of consolidation here is very healthy in

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<v Speaker 1>order for us to push higher. And also keep in

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<v Speaker 1>mind that one hundred thousand dollars is a psychological barrier

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<v Speaker 1>or resistance, and we're gonna have to build support levels

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<v Speaker 1>to smash through that. I think we will, and it

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<v Speaker 1>could possibly happen next week. I have the thesis that

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<v Speaker 1>bitcoin whales want to have bitcoin hit one hundred thousand

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<v Speaker 1>dollars around Thanksgiving so that the dinner table conversation will

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<v Speaker 1>be around crypto. And we've seen historically that kicks off

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<v Speaker 1>a big retail fomo. So I think the whales, the

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<v Speaker 1>market makers, know what they're doing here. Now I could

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<v Speaker 1>be wrong. You know, the thesis may not be something

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<v Speaker 1>that plays out, but we'll see. I think it has

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<v Speaker 1>a high probability of playing out. When you look at

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<v Speaker 1>bitcoin on the monthly, it's also in the overbought zone,

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<v Speaker 1>so some sort of cool down is needed here. Once again,

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<v Speaker 1>it doesn't mean that Bitcoin has to dump tomorrow. Even

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<v Speaker 1>next week, it can go a bit higher. It could

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<v Speaker 1>smash through one hundred thousand, then do its big correction,

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<v Speaker 1>and that doesn't mean the bullmarket's over. It's just these

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<v Speaker 1>things are normal in a bullmarket cycle. You go back

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<v Speaker 1>in history and you look at the charts. Nothing goes

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<v Speaker 1>up in a straight line. There will be corrections and

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<v Speaker 1>sometimes deep ones thirty percent, forty percent. I've experienced those.

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<v Speaker 1>And if you don't understand the indicators, the markets, the technicals,

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<v Speaker 1>and so forth, it can shake you out. So this

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<v Speaker 1>is why we have to pay attention to the data

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<v Speaker 1>and not our feelings and our emotions. So if you

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<v Speaker 1>look at coin market cap, you know a lot of

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<v Speaker 1>all coins are pulling back. And let's use XRP as

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<v Speaker 1>an example. It was at a dollar sixty cents right

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<v Speaker 1>a couple of days ago. Now it's at a dollar

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<v Speaker 1>thirty nine, and you look at its chart on the daily,

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<v Speaker 1>the RSIs and the overbod zone, so you can see

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<v Speaker 1>that natural pullback very healthy. Nothing goes up in a

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<v Speaker 1>straight line, so we have to be patient. We have

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<v Speaker 1>to go through the cycles, and remember theset levels that

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<v Speaker 1>are being built are very important. For us to hit

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<v Speaker 1>higher prices, because it's not sustainable to keep going parabolic

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<v Speaker 1>every day, every week, every month. That is not realistic, right, guys,

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<v Speaker 1>So keep these things in the back of your mind.

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<v Speaker 1>Look at the charts, look at the different indicators, so

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<v Speaker 1>that you're not moving by your emotions now. Analysts wreck

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<v Speaker 1>Capital highlighted following about Bitcoin's current pullback. He said, understandably,

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<v Speaker 1>Bitcoin is finding some resistance at the major psychological level

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<v Speaker 1>of one hundred thousand dollars. Does Bitcoin need to experience

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<v Speaker 1>a dip having only broken out from a sideways range

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<v Speaker 1>some five days ago. It's debatable, However, at this time,

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<v Speaker 1>the worst case scenario is that Bitcoin could dip up

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<v Speaker 1>to eight point five percent into the old resistance of

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<v Speaker 1>ninety one thousand dollars for a post breakout retest. For context,

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<v Speaker 1>bitcoin experience a seven percent dip some ten days ago.

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<v Speaker 1>Bitcoin could of course produce a much shallower dip, but

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<v Speaker 1>the key takeaway is that dips are a natural part

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<v Speaker 1>of the process and dips precede further upside. So, guys,

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<v Speaker 1>I think we can hope that this dip, maybe it

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<v Speaker 1>continues into tomorrow and it finds some sort of bottom

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<v Speaker 1>and then come let's say Wednesday, it starts moving bitcoin

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<v Speaker 1>smashes through one hundred k on Thanksgiving or on Friday,

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<v Speaker 1>whatever it may be, and retail fomo starts again. We

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<v Speaker 1>go into December very strong, and then there could be

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<v Speaker 1>another pullback in the middle of December or late December.

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<v Speaker 1>So these are the different scenarios you want to think about.

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<v Speaker 1>Because no one has a crystal ball here, and we

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<v Speaker 1>look at the charts, we wait to see what it

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<v Speaker 1>tells us, and we form our thesis. Now, of course,

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<v Speaker 1>there are some people who are shouting from the hills,

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<v Speaker 1>Oh we're at the top. See I told you guys,

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<v Speaker 1>blah blah blah, right, but they never show you quality

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<v Speaker 1>metrics or signals. So based on historical patterns, we are

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<v Speaker 1>not near the top. And multiple charts and data points

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<v Speaker 1>show us that even the all cooin market cap hasn't

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<v Speaker 1>even touched its old all time high set back in

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<v Speaker 1>twenty tw one, so we're nowhere near that. One of

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<v Speaker 1>the indicators I like to use is the Pice cycle

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<v Speaker 1>top indicator for bitcoin. It's nowhere near to flashing. Also,

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<v Speaker 1>watching what the bitcoin whales are doing, they continue to accumulate,

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<v Speaker 1>so data from sentiment shows while it's with ten plus,

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<v Speaker 1>bitcoin continues to increase, so they are buying. In addition,

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<v Speaker 1>bitcoin supply and exchanges continues to go down. That means

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<v Speaker 1>that they're not moving coins onto the exchanges to sell.

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<v Speaker 1>We saw that actually back in March and April and

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<v Speaker 1>May of this year when it was the buyer rumor

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<v Speaker 1>sell the news event with the bitcoin ETFs. So these

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<v Speaker 1>are the different things you want to look at. It

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<v Speaker 1>tells the story about what's happening in the market. And look,

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<v Speaker 1>whales are the ones who controlled the market for the

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<v Speaker 1>most part. Yes, retail comes in, but the whales are

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<v Speaker 1>the ones who set up the whole movement, like it

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<v Speaker 1>or not. So we are seeing they are buying and

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<v Speaker 1>they are not selling. And this is also happening on

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<v Speaker 1>the ETF side. Socoin join spot ets bought around thirty

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<v Speaker 1>four eight hundred and sixty bitcoin this past week and

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<v Speaker 1>only three one hundred and fifty bitcoin were mind guys,

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<v Speaker 1>this is why you want to be on the side

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<v Speaker 1>of smart money and looking at data and all these

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<v Speaker 1>different things. It's amazing what's happening. And one of the

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<v Speaker 1>things I often share with you guys is stable coin

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<v Speaker 1>liquidity because that liquidity goes into the market to bitcoin

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<v Speaker 1>and all coins. Well, Tether today minted two billion in USDT.

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<v Speaker 1>Guys over the past six to seven days, they've minted

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<v Speaker 1>about seven billion in USDT. If you follow whale alerts

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<v Speaker 1>on Twitter, you will see the same data. You can

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<v Speaker 1>go check the transaction on the blockchain. They continue to

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<v Speaker 1>mint a lot, and that's because a lot of whales

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<v Speaker 1>go through using stable coins, both USDT, USDC and more.

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<v Speaker 1>And we continue to see the narrative is changing around crypto. Folks.

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<v Speaker 1>Look at the cover of The Times, which is a

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<v Speaker 1>newspaper out of the UK. The headline here is should

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<v Speaker 1>pension funds invest in crypto? How times have changed? Folks?

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<v Speaker 1>How times have changed? It's amazing. There's both a global

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<v Speaker 1>competition and conversation happening about the integration of bitcoin and crypto.

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<v Speaker 1>Bitcoin as a reserve asset here in the United States.

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<v Speaker 1>Some countries have made bitcoin I legal tender, Some are

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<v Speaker 1>buying it and adding to their balance sheet. And we

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<v Speaker 1>are just seeing movement towards crypto with the adoption regulation

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<v Speaker 1>and much more. They're not banning it. No one's calling

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<v Speaker 1>it a fad anymore. Notice how that fud has disappeared. Right,

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<v Speaker 1>No one's saying, Oh, it's a fad, Oh it's a

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<v Speaker 1>pet rock, right, Jamie dive, it's a pet rock. You

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<v Speaker 1>don't hear him saying those things anymore. So pretty incredible stuff. Now, guys,

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<v Speaker 1>I want to share something from macro investor ral Palell.

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<v Speaker 1>Now we know Donald Trump assigned Scott Piscent as the

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<v Speaker 1>new Treasury secretary. He's very pro crypto in reporting that

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<v Speaker 1>news to you guys. This week, I shared a clip

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<v Speaker 1>of him speaking about crypto, and Raoul actually knows Scott,

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<v Speaker 1>so he tweeted the following, Scott Piscent, the new Treasury

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<v Speaker 1>Secretary is in favor of a weaker dollar and lower

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<v Speaker 1>oil prices to drive US and global growth. That is

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<v Speaker 1>all you need to know. It will drive financial conditions, Taildr.

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<v Speaker 1>Scott is good for your bags. I've known him for

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<v Speaker 1>over a decade and he gets it. Raul continued here,

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<v Speaker 1>saying at tad deeper, he understands that we have to

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<v Speaker 1>try to goose GDP to grow out of debt. I

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<v Speaker 1>think it fails due to long term demographics until AI

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<v Speaker 1>plus robots. Even so, we still have to roll ten

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<v Speaker 1>trillion dollars issh of debt. So we need to lower

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<v Speaker 1>rates in twenty twenty five before growth can kick in.

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<v Speaker 1>So let's talk about the major takeaways here. Scott percent

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<v Speaker 1>is a billionaire. He's been investing. I think he's been

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<v Speaker 1>in the hedgehund space. That's probably why he knows ral Palell.

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<v Speaker 1>He's bullish on crypto and he believes in a weaker dollar.

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<v Speaker 1>What have we seen historically the DXY, the dollar currency index,

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<v Speaker 1>when it is crashing, there's an inverse correlation between bitcoin

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<v Speaker 1>in risk assets and the dollar. Now, I know some

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<v Speaker 1>of you're gonna say, Tony, have you looked at the

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<v Speaker 1>DXY chart? Recently? Risk assets have been pumping along with

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<v Speaker 1>the d x Y, and I believe that's an anomaly, Folks, don't.

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<v Speaker 1>I'm not too sure what's happening here, But if you

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<v Speaker 1>look at the historical patterns going back to multiple bull

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<v Speaker 1>market cycles, d x Y is crashing bitcoin and risk

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<v Speaker 1>assets are going up. That has been the correlation. And

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<v Speaker 1>I think this anomaly, this outlier here, it will correct itself.

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<v Speaker 1>And we're actually seeing the DXY starting to break down here.

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<v Speaker 1>It has been in the overbought zone as well, so

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<v Speaker 1>let's see, it's it's weird times with these assets, and

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<v Speaker 1>it could be just because of the election and the

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<v Speaker 1>shift and some macro factors and more, and maybe investors

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<v Speaker 1>are front running the collapse of the d x Y

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<v Speaker 1>and you know, markets are for looking. I'm going to

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<v Speaker 1>try to see if I can get some experts to

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<v Speaker 1>come on the podcast to talk about this. But this

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<v Speaker 1>is unique and if you go look at the charts yourself,

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<v Speaker 1>you will see that inverse correlation from multiple bull market

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<v Speaker 1>cycles in addition with the stock market. So it's really

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<v Speaker 1>weird that the x Y has been pumping with this.

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<v Speaker 1>But to Ral's point, Scott and the Trump administration and

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<v Speaker 1>so forth, they're going to look to have a weeker

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<v Speaker 1>dollars so assets take off and I think they're going

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<v Speaker 1>to start a money printer again. Guys. QWI is going

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<v Speaker 1>to come back, so very insightful posts here from Ral

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<v Speaker 1>and you know as far as what we can expect allorry, guys.

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<v Speaker 1>Final news item here. We got a report today that

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<v Speaker 1>Cancer Fitzgerald has agreed to acquire five percent stake in

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<v Speaker 1>Tether for up to six hundred million dollars. And if

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<v Speaker 1>you know, the CEO of cantor Fitzgeral is Howard Lutnik.

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<v Speaker 1>He was just appointed as President elect Donald Trump's Secretary

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<v Speaker 1>of Commerce. We know that Lutnik has been very close

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<v Speaker 1>to Donald Trump, part of the transition team. Lutnik was

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<v Speaker 1>at the Bitcoin conference talking about their bullish on bitcoin.

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<v Speaker 1>They own a lot of bitcoin. At Davos earlier this year,

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<v Speaker 1>he mentioned that they were working with Tether and that

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<v Speaker 1>Tether had the reserves, they had the money, so very

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<v Speaker 1>big move. And this type of news continues to silence

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<v Speaker 1>the fludsters, people who continually spread foot about Teather. And

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<v Speaker 1>I've been on record in the past that I believe

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<v Speaker 1>Teather was not in good shape years ago. I think

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<v Speaker 1>now that is not the case. Their ship is in

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<v Speaker 1>order and they're working with some of the biggest firms

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<v Speaker 1>in the world. But the larger theme here, if you

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<v Speaker 1>step back, it's the Wall Street takeover. Guys. Look at this.

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<v Speaker 1>This is a major Wall Street firm, and I think

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<v Speaker 1>they'll probably want a bigger steak eventually. But just look

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<v Speaker 1>the ETFs being issued by all the Wall Street toganization.

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<v Speaker 1>They want to take over the stable coin issuers. This

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<v Speaker 1>is why Gary Ginser was weaponized to kill the coin bases,

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<v Speaker 1>the ripples and so forth, so that his buddies on

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<v Speaker 1>Wall Street, Goldman, Sachs and all these guys can come

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<v Speaker 1>in and take over. But very big for Teather and

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<v Speaker 1>very big for the future growth of this market. Cantor

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<v Speaker 1>is a very big firm and they do a lot

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<v Speaker 1>in the markets, guys, So huge, huge news here, in

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<v Speaker 1>my opinion, I'm going to try to get the CEO

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<v Speaker 1>of Tether back in the podcast to talk about these things.

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<v Speaker 1>But let me share some notes on the article. It

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<v Speaker 1>could mean Tether receives more political support as Canter. Fitzgerald's CEO,

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<v Speaker 1>Howard Lutnik, was selected as the United States President elect

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<v Speaker 1>Donald Trump's Secretary of Commerce on November nineteenth. Gian Carlo

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<v Speaker 1>de Fasani, suspected to be the largest shareholder Tether, reportedly

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<v Speaker 1>said words to the effect of Lutnik will use his

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<v Speaker 1>political clout to try to diffuse threats facing Tether. The

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<v Speaker 1>Wall Street Journal claim very very interesting, guys, but the

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<v Speaker 1>larger theme once again you step back, it's the Wall

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<v Speaker 1>Street takeover. So you can see where things are headed, folks.

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<v Speaker 1>Let me know what you think about this news. Lead

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<v Speaker 1>Your thoughts and comments below be sure to check out

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<v Speaker 1>to learn more about bidgo, go to bitgo dot com.

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<v Speaker 1>Link will be in the description. Also, guys, please sign

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<v Speaker 1>up on my free email newsletter on substack. It's one

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<v Speaker 1>hundred percent free, and grab a copy of my book,

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<v Speaker 1>in the description. Thank you guys for your support, Thank

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<v Speaker 1>you for watching. I appreciate you all, and I'll talk

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<v Speaker 1>to you all later