Speaker 1: I've got good news for you and bad news for you.
Speaker 1: JP Morgan is tokenizing on the ethererem blockchain, and Visa
Speaker 1: is forming a stable coin advisory group that includes banks
Speaker 1: and much more. But Bitcoin is taking another pullback and
Speaker 1: the market Structure bill will not be marked up in
Speaker 1: twenty twenty five. I'll give it the details. Let's get
Speaker 1: into it. Hey, folks, welcome into the Thinking Crypto podcast.
Speaker 1: You're home for cryptocurrency news and interviews. I'm your host,
Speaker 1: Tony Edward. On your way in, Please let that subscribe
Speaker 1: button as well as the thumbsup button and leave a
Speaker 1: comment below. If you're listening on a podcast platform such
Speaker 1: as Spotify or Apple, please leave a five star rating
Speaker 1: and review. Folks, Bitcoin taking another pullback, but it's along
Speaker 1: the lines of one of the scenarios we talked about
Speaker 1: over the past couple months, and that is we could
Speaker 1: see a double bottom. So you know of this move
Speaker 1: that we were seeing that looked like a VSH shape
Speaker 1: recovery setting up higher highs and higher lows. If that failed,
Speaker 1: it could be just a retest, and that's what it
Speaker 1: looks like. Remember that bitcoin was extremely over sold, the
Speaker 1: sentiment was in fear and the market always does the
Speaker 1: opposite of the herd, So I think this is more
Speaker 1: so of a retest and a double bottom, kind of
Speaker 1: like what we saw earlier this year in about March
Speaker 1: or so, we had a double bottom before we went
Speaker 1: into the move to new all time highs. So again,
Speaker 1: it's a patience game. I know it's tough, I know
Speaker 1: it's painful, I know it's annoying, but this is the
Speaker 1: market and we're going to have to deal with it.
Speaker 1: But it's not only Big One that's taking a bit
Speaker 1: of the pullback here. The stock market is as well,
Speaker 1: so we're seeing weakness across the board. So we just
Speaker 1: got to let this play out again. Like I said
Speaker 1: yesterday's podcast, I'm not anticipating anything towards the end of
Speaker 1: this year, folks, or this month at least, but rather
Speaker 1: I think this theme starts to pick up in January
Speaker 1: and February as liquidity starts making its way through the market.
Speaker 1: We're also watching gold, right. Gold has been on the move.
Speaker 1: It has not broken the all time high its set months,
Speaker 1: but that's something we're gonna watch because what we've seen
Speaker 1: is the rotation between these different assets. Right, because we've
Speaker 1: been in a macro bull market. So if gold is
Speaker 1: continuing its move, that's a very good sign for Bitcoin,
Speaker 1: the stock market, and much more in addition to things
Speaker 1: like silver. Silver hit a new all time high this week.
Speaker 1: Right now it's pulling back because it's been overbought. But
Speaker 1: these are all signs I'm looking at. And you know,
Speaker 1: we got the Fed has started quantitative easing, that started
Speaker 1: just Friday, So we got to be patient here and
Speaker 1: let things play out. Here's something that Michael Vanderpope said,
Speaker 1: and he is the founder of m N Fund. He said,
Speaker 1: for the fourth time in history of bitcoin, the RSI
Speaker 1: against gold is hitting less than thirty. The previous three
Speaker 1: times this occurred was in the bottom of the twenty
Speaker 1: fifteen bear market, the bottom of the twenty eighteen bear market,
Speaker 1: and the bottom of the twenty twenty two bear market.
Speaker 1: He said, It's not a guarantee, but it can clearly
Speaker 1: say that one of the two is over valued to
Speaker 1: the other. In this case, I think gold is overvalued
Speaker 1: versus bitcoin, and that is a rotation on the horizon.
Speaker 1: So again, remember I've been telling you guys, we're in
Speaker 1: a macrobowl market for all assets. We're gonna see rotational liquidity.
Speaker 1: He says the gap towards the twenty week moving average
Speaker 1: is massive as well. History quite often doesn't repeat exactly,
Speaker 1: but it rhymes and the data never lies. So I
Speaker 1: absolutely agree with this, not because of feelings or emotions
Speaker 1: or biased but rather the data. Right, what is the
Speaker 1: data telling us? So one of the other things I've
Speaker 1: been highlighting to you guys on the podcast in my
Speaker 1: newsletter is that bitcoin whales are accumulating again. And in addition,
Speaker 1: you know, we are expecting to see crypto companies do IPOs,
Speaker 1: not just crypto companies, but tech companies in general do
Speaker 1: IPOs in twenty twenty six. So what are they anticipating?
Speaker 2: Right?
Speaker 1: And look at this, I think this is telling We
Speaker 1: know Donald Trump and his family are heavily involved in
Speaker 1: crypto well, Trump backed American Bitcoin flips, pro Cap, in
Speaker 1: bitcoin treasury race, so they continue to buy bitcoin and
Speaker 1: mind bitcoin. So why are they doing that if the
Speaker 1: price is going to tank again? Read between the lines, right,
Speaker 1: And I'm not saying this one issue is you know
Speaker 1: the bullmarket case. I think it's a combination of factors
Speaker 1: that we got to look at. So Bitcoin's month long
Speaker 1: slide hasn't stopped corporate treasury companies from accumulating the digital
Speaker 1: asset with the Eric Trump backed American bitcoin overtaking pro
Speaker 1: Cap Financial founded by entrepreneur Anthony Pompeliano in total bitcoin holdings,
Speaker 1: so they now hold more than one thousand bitcoin. So
Speaker 1: what the hell is going on here?
Speaker 2: Guys? Why are they buying?
Speaker 1: If we're headed into a bear market as summer saying it,
Speaker 1: Bitcoin's headached down to Some people are saying seventy, some
Speaker 1: people are saying fifty forty. I mean, the craziest numbers
Speaker 1: out there, right, So what's happening here? And I pose
Speaker 1: that question so that you guys can look at the
Speaker 1: market holistically. Right, there are bearer signals on the charts.
Speaker 1: We're not ignoring that. But then I look at the
Speaker 1: macro and some of these fundamentals and I'm like, wait
Speaker 1: a minute, something is something is different here this time around,
Speaker 1: because last time you.
Speaker 2: Didn't see companies doing this.
Speaker 1: Right, last time, it was it the Fed said we're
Speaker 1: headed into quantitative tightening, We're going to raise rates, and
Speaker 1: then it was it party over, it collapses started, and
Speaker 1: much more.
Speaker 2: That's not what's happening here.
Speaker 1: So this is where as a student of history and
Speaker 1: what companies are doing in the macro and the FED
Speaker 1: and these institutions, I'm looking at all these factors and
Speaker 1: saying something is very different this time.
Speaker 2: Now look at this news. This is massive.
Speaker 1: So JP Morgan launches tokenize money market fund on etherorem
Speaker 1: as Wall Street moves on chain.
Speaker 2: This is huge.
Speaker 1: And this follows just the news we saw on Friday
Speaker 1: that JP Morgan was tokenizing Galaxy Digital's debt issuance on
Speaker 1: the Salona blockchain. But we know JP Morgan has a
Speaker 1: massive history with a theorem. They helped to fund the Etherorem,
Speaker 1: they invested in Consensus, they were partner with Consensus. At
Speaker 1: one point they had a forked Etherorem and had a
Speaker 1: private version of it called Korum. I think it's now
Speaker 1: called Connexus or something like that. So JP Morgan they
Speaker 1: know what's going on, despite what Jamie Diamond was saying
Speaker 1: all these years.
Speaker 2: Right.
Speaker 1: So JP Morgan Chase is launching its first tokenized money
Speaker 1: market fund on ethereum dubbed my on chain net Yield
Speaker 1: Fund or call mony mon Y, with an initial one
Speaker 1: hundred million dollar investment. So money or money if you
Speaker 1: want to say, it that way, allows investors to redeem
Speaker 1: shares using cash or USDC, and aims to offer similar
Speaker 1: benefits to traditional money market funds with added blockchain advantages. So, folks,
Speaker 1: it's interesting we have this dichotomy, the most massive, massive
Speaker 1: adoption of crypto, big guidance from the SEC, the OCC
Speaker 1: and the CFDC, Yet price is not reacting right because
Speaker 1: there's so much. It's not like there's just one item
Speaker 1: or a couple. There are a lots man we saw.
Speaker 1: I actually wrote about it in my newsletter today. Just
Speaker 1: massive adoption, but price is not reflecting that. And it's
Speaker 1: almost like someone's holding back the parabolic phase until these
Speaker 1: big players take their positions right now that I could
Speaker 1: be absolutely wrong, right, I always tell you guys, I'm
Speaker 1: not here to claim that I know everything, but you know,
Speaker 1: I try to follow my intuition and look at what
Speaker 1: people are doing and then what's happening in the market
Speaker 1: and the price action and all that. So it's just very,
Speaker 1: very weird. But anyway, this is massive. I mean, this
Speaker 1: is the king of the FIAT world JP Morgan, right,
Speaker 1: They're king of the hill when it comes to the
Speaker 1: banking world. So this is incredible adoption, and look, they're
Speaker 1: building on public blockchains, so they've capitulated and everybody realizes
Speaker 1: now you have to settle and that's where the liquidity
Speaker 1: is on public blockchains.
Speaker 2: Now look at this.
Speaker 1: Hunter Horseley, CEO of bit Wise Asset Management, replied about
Speaker 1: this news, saying, within twelve months crypto is going to
Speaker 1: be integrated with all parts of financial services, a title
Speaker 1: wave of substance and new players are coming. The gain
Speaker 1: theories playing out here with these massive institutions. We're seeing
Speaker 1: all the big banks right City, JP Morgan, all the
Speaker 1: Wall Street firms are launching. Charles Schwab they're going to
Speaker 1: be launching crypto trading in the first half of twenty
Speaker 1: twenty six, and van k they just recently capitulated and
Speaker 1: much more so. It is once again a very weird
Speaker 1: dichotomy that's happening between adoption and the fundamentals and all
Speaker 1: these things versus price.
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Speaker 1: we got more news around banks. So Bank of America
Speaker 1: says banks will move on chain over the next several years.
Speaker 1: So we know this right, All the banks are going
Speaker 1: to capitulate and adopt crypto. We've been beating the drama
Speaker 1: about this for years that the future markets, economies, and
Speaker 1: governments will all run on blockchain rails. And in fact,
Speaker 1: today the NASDAC said they're ready to launch twenty three
Speaker 1: hour trading, so they get everybody's trying to compete with
Speaker 1: crypto right, because crypto is the first truly global market
Speaker 1: that runs twenty four to seven, three hundred and sixty
Speaker 1: five days. Here's some more bank news. Japan's SBI Holdings
Speaker 1: and Startail Group signed an MoU to jointly develop a
Speaker 1: regulated Yen denominated stable coin compliant with japan These financial regulations.
Speaker 1: So the launching crypto trading, custody, tokenizing, launching stable coins,
Speaker 1: and much more folks, So I hope you see the
Speaker 1: direction to Puck is heading in here. It's amazing the adoption,
Speaker 1: but you know, as mentioned earlier, it is crazy dichotomy
Speaker 1: between the adoption we're seeing in price. I do believe
Speaker 1: eventually the price will catch up. Is just a really
Speaker 1: strange time in the market right now. Now look at
Speaker 1: this news from one of the world's largest payments in
Speaker 1: credit card companies, Visa launches stable Coins Advisory Practice to
Speaker 1: keep up with crypto wave. What a headline, right, We
Speaker 1: couldn't imagine this even just four years ago. So another
Speaker 1: major financial institution is doubling down on stable coins and crypto.
Speaker 1: This time it's Visa. The company announced on Monday the
Speaker 1: launch of its stable Coins Advisory Practice, a service which
Speaker 1: aims to add FinTechs, banks, and other businesses with their
Speaker 1: strategy and implementation of stable coins. So all the credit
Speaker 1: card companies are doing this right on end, the payment
Speaker 1: companies for that matter. So you got MasterCard and American
Speaker 1: Express and much more, and they're all in a race again,
Speaker 1: Game three playing out here. No one wants to get
Speaker 1: left behind, So all adopted in this technology, and it's
Speaker 1: amazing to see what they're doing.
Speaker 2: It's just incredible. You know.
Speaker 1: I often tell people if you know someone who's a
Speaker 1: skeptic about crypto or they're on the fence about crypto,
Speaker 1: shared this news with them. It's not necessarily that they
Speaker 1: have to invest in it, but they can go work
Speaker 1: in the industry. They can become an entrepreneur and build
Speaker 1: a company in the crypto industry. So this is I mean,
Speaker 1: the biggest of the biggest names. Right, even the JP
Speaker 1: Morgan news I covered just earlier. These are things you
Speaker 1: got to send to the skeptics and the people who
Speaker 1: don't understand what the hell is happening. Okay, moving ahead,
Speaker 1: not so good news. So the Senate Banking Committee confirms
Speaker 1: the Bitcoin and Crypto Market Structure Bill will not advance
Speaker 1: in twenty twenty five. Markup now expected in early twenty
Speaker 1: twenty six. So this is not good. We were hearing
Speaker 1: a lot of talk about at least getting the markup done.
Speaker 1: We realize it wouldn't pass. Just my timing perspective, and
Speaker 1: not even the market's going to get done. You know,
Speaker 1: I tweeted out about this saying, look, if they don't
Speaker 1: get this pass in twenty twenty six, and right, now
Speaker 1: is the top of the market, then we've been bamboozled.
Speaker 1: We got rug pull right, so we got to keep
Speaker 1: putting the pressure here. And look, I'm optimistic, but I'm
Speaker 1: also you know, I'm keeping the receipts. We got to
Speaker 1: watch as closely, right, So let's see how it plays out.
Speaker 1: But maybe from a price action standpoint, this is a
Speaker 1: good thing in a sense of don't have this bullish
Speaker 1: news of making it through the different phases of the
Speaker 1: process happen in a market downturn like we're in right now,
Speaker 1: but rather it happens as the market isn't reversing and
Speaker 1: going into strength. Look, I know it's semantics, but I
Speaker 1: hope you guys understand it's that. This is why sometimes
Speaker 1: people time news, you know, according to how the market's
Speaker 1: playing ads. When the market's dumping, you lose attention. Look like,
Speaker 1: for example, my views are down. A lot of people
Speaker 1: are not paying attention to crypto right now because you know,
Speaker 1: a lot of them are like, look, I don't want
Speaker 1: to look at the prices.
Speaker 2: I it's been down.
Speaker 1: My portfolio is not doing anything. There's no action, right.
Speaker 1: But when we are seeing price action, of course the
Speaker 1: views go up. And the downloads go up, and that's
Speaker 1: just the nature of things. And look, it's human psychology, right,
Speaker 1: So I'm not complaining. I'm just giving you guys an
Speaker 1: example of what's happening. So I again, like I said
Speaker 1: at the beginning, I think January February, we're going to
Speaker 1: start to see this market starry to pick up steam,
Speaker 1: whether that's a relief rally or the move to.
Speaker 2: New all time highs.
Speaker 1: And you know, I'm hoping for the ladder that move
Speaker 1: to new all time highs now. I SEC chair Paul
Speaker 1: Atkins said the following Today at the Crypto Roundtable. He
Speaker 1: says public blockchains are more transparent than any legacy financial
Speaker 1: system ever built.
Speaker 2: What a statement, Wow, wow wow.
Speaker 1: And that's why JP Moore against building on Ethereum and
Speaker 1: Salona and you know, all these big companies who are
Speaker 1: once anti public blockchains try to create their own private
Speaker 1: wall garden versions are now capitulating moving to public blockchains.
Speaker 1: So I think Paul gets it, and you know, I
Speaker 1: know the SEC is working on guidance. I'm trying to
Speaker 1: get Cheer Atkins on the pod, but you know, obviously
Speaker 1: he's very busy. He's hard to get so you know,
Speaker 1: stay tuned. I'm gonna try to get him on there.
Speaker 1: Look at this, Paypals submits an application to become a
Speaker 1: US bank. So the reason why I'm sharing this with
Speaker 1: you is the context, the backdrop of the occ just
Speaker 1: giving these the bank charter trusts approvals to ripple Circle,
Speaker 1: Pasos and these other companies big as well, and everybody
Speaker 1: wants to become a bank now. But it makes sense
Speaker 1: what PayPal is doing. And once again, PayPal has big
Speaker 1: ties to crypto. They have the p y us the stablecoin.
Speaker 1: They offer crypto trading not only on PayPal but Venmo.
Speaker 1: And I'm going to try to get the crypto of
Speaker 1: PayPal on in early twenty twenty six. And you know,
Speaker 1: the most recent news I shared with you all was
Speaker 1: YouTube adopting the pyusd stable coin for payouts. And I
Speaker 1: told you guys, I was going to check that out
Speaker 1: to see if that's actually working. But it's amazing, amazing,
Speaker 1: what's happening now. Final news item, the CME group highlighted
Speaker 1: the following spot quoted XRP and soule features are alive
Speaker 1: and ready to trade. Trade this spot price you know,
Speaker 1: on the a regulated US exchange with bite sized contracts.
Speaker 2: And low margin.
Speaker 1: So we're seeing all types of financial products being built
Speaker 1: here for these assets. And I know some of you
Speaker 1: are gonna say, tony futures are for shorting.
Speaker 2: I know, I know, I know.
Speaker 1: But the point is it adds balance to the market, right.
Speaker 1: People can go along, they could go short all that stuff.
Speaker 1: They can do spot, they can do futures, and I
Speaker 1: know the futures. But the good thing is with this
Speaker 1: asset class, it trades twenty four to seven. It's global,
Speaker 1: so it's not one market can control, you know, everything,
Speaker 1: kind of like the previous as sets and so forth.
Speaker 1: It's everywhere right as far as distribution of these assets.
Speaker 1: So again I'm hoping that this is all the setup of,
Speaker 1: you know, a massive on wrap for.
Speaker 2: A blow offf top.
Speaker 1: The timing of that, boy, that is the big question, right,
Speaker 1: And look it's I'm with you, guys. I am I
Speaker 1: feeling a little bit frustrated. Sure, I have my portfolio,
Speaker 1: I've shared my goals. I want to take profits. I'm
Speaker 1: looking for higher prices. Of course, just like all of you,
Speaker 1: I got skin in the game. Man, I'm not a
Speaker 1: billionaire or anything like that. So I'm looking to you know,
Speaker 1: make as much profits as possible. So folks, let me
Speaker 1: know what you think about this news, especially the JP
Speaker 1: Morgan news is just huge.
Speaker 2: Man.
Speaker 1: Leave your thoughts and comments below, hit the thumbs up
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Speaker 1: teaches you everything you need to know about cryptos. To
Speaker 1: check it out to expand your knowledge and folks, I
Speaker 1: appreciate you all, thank you for tuning in, and I'll
Speaker 1: talk to you all later