Speaker 1: Hey, everyone, Welcome into the Thinking Crypto podcast. You're home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward.
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Speaker 1: At the time of recording, bitcoin is that seventy five
Speaker 1: thousand dollars. So we continue to see more downward pressure,
Speaker 1: but the good signs are on the daily chart. We
Speaker 1: are extremely over sold. The RSI is turning red right now,
Speaker 1: that's how extreme it is, and it's certainly below thirty right.
Speaker 1: So if you know your textbook when it comes to markets,
Speaker 1: anything thirty and below is over sold. Anything above seventy
Speaker 1: is overbought. So we can expect some sort of reversal,
Speaker 1: although it could chop around here for the next week.
Speaker 1: So just the timing is always the hard part, you know,
Speaker 1: because no one has a crystal ball. But we can
Speaker 1: use these signals, which again are textbook, and you can
Speaker 1: get an idea of where the market may go next.
Speaker 1: So I think some sort of bounces to We are
Speaker 1: extremely extremely over sold and there's a lot of fear.
Speaker 1: And even on the weekly chart we are essentially touching
Speaker 1: the oversold zone here for the RSI, So that's a
Speaker 1: good sign that some sort of relief is coming. The
Speaker 1: question is we've been talking about and I know a
Speaker 1: lot of you're gonna say, Tony, it looks like you
Speaker 1: know what you're talking about. The thesis of this continuing
Speaker 1: to new highs is looking less probable, and sure, you
Speaker 1: know that's certainly possible. I've told you guys, if this
Speaker 1: thing breaks certain support levels, then yeah, that's it. We're
Speaker 1: gonna keep going down. It's just like the previous market
Speaker 1: cycles four years and so forth, though the macro is
Speaker 1: a bit different this time around, so we're gonna have
Speaker 1: to wait and see. Folks. Obviously, do what you need
Speaker 1: to do in the market. I'm just sharing the data
Speaker 1: and the facts with you and we'll see where things go.
Speaker 1: But you know, both the daily and the weekly oversold,
Speaker 1: so some sort of bounce will be coming. And to
Speaker 1: add to that, the two week RSI closed right above
Speaker 1: the zone where all major bear market bottoms have been found,
Speaker 1: So that's how low it is. So it's not your
Speaker 1: traditional bull market and it's not your traditional bear market here,
Speaker 1: so again we're looking for a bounce and let's see
Speaker 1: how this plays out. A good sign as well is
Speaker 1: that retail is starting to capitulate. So when you look
Speaker 1: at the wallet addresses, and this is data I've shared
Speaker 1: from Santiment as well, retail is going down. They're capitulating,
Speaker 1: and the whales are accumulating. These things have preceded rallies, right,
Speaker 1: and if you've been catching my episodes with Brian from Santaman,
Speaker 1: we exactly talk about these things. And I'm waiting for
Speaker 1: Santiment to update their data tomorrow, you know, once the
Speaker 1: weekend data comes in, and I'll share that with you
Speaker 1: all and we'll see which direction things are going. Because
Speaker 1: if retail keeps accumulating and whales are distributing, then that's
Speaker 1: not good. But the positive sign again, the whales are accumulating,
Speaker 1: retail is starting to capitulate. So I don't make the rules, guys,
Speaker 1: this is just how things function. And when we look
Speaker 1: at the data, it's very eye opening. So we shall
Speaker 1: see what happens and look. Not a good sign is
Speaker 1: Jim Kramer is talking a lot about bitcoin and crypto.
Speaker 1: He's been tweeting NonStop, and one of the things he
Speaker 1: said today was with bitcoin, it's seventy seven thousand dollars.
Speaker 1: I figure the buyers come in all at once to
Speaker 1: move it aback above eighty two thousands. If he's saying
Speaker 1: anything bullish, you know that's not good. It's bearish, right,
Speaker 1: So we could be in for a rough Monday or
Speaker 1: rough week. I don't know. We're gonna have to wait
Speaker 1: and see. And look, a lot of people are taking losses.
Speaker 1: So the infamous hyper unit whale exits entire eth position
Speaker 1: for two hundred and fifty million dollar loss, left with
Speaker 1: fifty three dollars in the account. According to Arkham So
Speaker 1: unchained data, the trader, linked to former bitfour x CEO
Speaker 1: Garrett Jin has closed out their entire leverage ether sition
Speaker 1: on hyper liquid, realizing a total loss of approximate two
Speaker 1: hundred and fifty million dollars. The account now holds just
Speaker 1: fifty three dollars. As stunning collapse of a whale who
Speaker 1: famously profited two hundred million dollars by shortening bitcoin and
Speaker 1: ether ahead of the October twenty twenty five tariff driven
Speaker 1: market crash, The exit marks a dramatic reversal of fortune
Speaker 1: for the trader who had built up an each long
Speaker 1: position worth over seven hundred million dollars in recent months.
Speaker 1: So even some big players getting wiped out here. But
Speaker 1: despite this, you know, the bigger theme though of crypto
Speaker 1: and the long term view, the macro is still intact
Speaker 1: where you have VC funding is ramping up. So a
Speaker 1: report coming out here says VC roundup, crypto funding rebounds
Speaker 1: as institutions tests unchained finance. So we know that despite
Speaker 1: the market volatility, big players are building and investing. You
Speaker 1: got trad FI also building and investing, So let me
Speaker 1: give you the details here. Venture capital institutional money flow
Speaker 1: are flowing back into the digital asset companies at the
Speaker 1: start of twenty twenty six, with industry data showing one
Speaker 1: point four billion dollars committed across venture rounds and public
Speaker 1: market listings. The largest transactions included Visa Link stable coin
Speaker 1: issue of Rain, which reached a one point nine billion
Speaker 1: dollar valuation after raising two hundred and fifty million dollars
Speaker 1: and crypto custodian Bitgoes two hundred million dollar plus IPO
Speaker 1: and the New York Stock Exchange in January. So these
Speaker 1: are good signs right that we are seeing investments still happening,
Speaker 1: and with all of the adoption news we've been seeing
Speaker 1: of last year, even the early into this year would
Speaker 1: tradify and much more. I don't think anybody's dismayed by
Speaker 1: the market volatility, because look, gold and silver are crashing,
Speaker 1: the stock market's not looking at great, so we're going
Speaker 1: to have these volatile moments, and if you have the
Speaker 1: macro view, it's going to work out well for you, right.
Speaker 1: But if you panic and you're emotional and you're buying
Speaker 1: into pumps and then you're selling into weakness and blood
Speaker 1: on the street, then you're doing it wrong. You want
Speaker 1: to be doing the opposite, right, buying the blood industry
Speaker 1: and selling the pumps and the euphorias. So again, I
Speaker 1: think this is a very positive sign that big institutions
Speaker 1: continue to have the long term view and investing in
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Speaker 1: we got some interesting reports coming out here that a
Speaker 1: UA shake secretly acquired forty nine percent of Trump's World
Speaker 1: Liberty financial days before the inauguration. Man, you know, I've
Speaker 1: been saying overall, Donald Trump has been a net positive
Speaker 1: for crypto because you know, he has changed the environment,
Speaker 1: pushed with legislation much more. But I wish he would
Speaker 1: have held off on doing all these things because it's
Speaker 1: just a horrible look. I've said, and many times the
Speaker 1: optics are bad and we're trying to get legislation done.
Speaker 1: You could imagine the likes of Elizabeth Warren and other
Speaker 1: Democrats are going to push back on this. Whether it
Speaker 1: ultimately stops the Clarity from passing, I don't know, but
Speaker 1: it really adds fuel to the fire for people to
Speaker 1: be anti crypto because of Trump. Right, we know how
Speaker 1: politics works, and it gives Elizabeth Warren and these people
Speaker 1: who are trying to kill crypto to or hand it over,
Speaker 1: handover control to the banks to really come after for us,
Speaker 1: and this really sucks. I think it's like we take
Speaker 1: steps forward, but we take steps backwards when Trump does
Speaker 1: something with crypto like this. And you know, I've been
Speaker 1: on record I'm not a fan of the meme coin.
Speaker 1: That's not a political statement whatever it is. I'm an independent,
Speaker 1: and whether it be Democrat or Republican, whoever is doing it,
Speaker 1: I don't believe they should. Right, it would have been
Speaker 1: awesome if Trump just came into office, didn't do any
Speaker 1: launch any crypto businesses, a coin and all these things,
Speaker 1: and just started getting things going, and then once things
Speaker 1: are pass he launches his business, right or his kids.
Speaker 1: But it's like they got so greedy, must launch trump Coin,
Speaker 1: must launch, this ETF must launch, We're Liberty Financial, must
Speaker 1: do an air drop on truth. So all these things,
Speaker 1: it's like, come on, man, like chill out right. Malania Coin,
Speaker 1: Barren Coin, all that stuff just I think hurt the
Speaker 1: market a lot, grabbed a lot of liquidity away from
Speaker 1: other all coins. So again, overall, though, you know, you know,
Speaker 1: it's obviously really really tough, and many crypto companies are
Speaker 1: feeling the pain on the Gary Ginster and Elizabeth Warren,
Speaker 1: but now you have another kind of pain. But overall,
Speaker 1: I think net positive. But I wish stuff like this
Speaker 1: was not going on because it really really hurts the
Speaker 1: reputation in the crypto industry. So let me give you
Speaker 1: some details. An Abu Dhabi investment vehicle backed by the
Speaker 1: UAE National Advisor or security advisor Sheik Ta Noun bin
Speaker 1: Zayed al Nahyan Oh my God, purchase a forty nine
Speaker 1: percent stake in World Liberty Financial for five hundred million dollars.
Speaker 1: According to the Wall Street Journal, The deal was signed
Speaker 1: four days before Trump's January twenty twenty five inauguration and
Speaker 1: never publicly disclosed. Half was paid up front, with one
Speaker 1: hundred and eighty seven million dollars going to the Trump
Speaker 1: family entities and at least thirty one million dollars to
Speaker 1: entities tied to the Middle East. Envoy Steve Whitcoss family.
Speaker 1: Eric Trump signed the agreement, among others. So Tannune has
Speaker 1: pushed the US for access to powerful AI chips. The
Speaker 1: Trump administration has played to sell five hundred thousand powerful
Speaker 1: chips to the UAE annually, according to the Noon's company
Speaker 1: G forty two. So this comes across as a massive bribe, right,
Speaker 1: I'm gonna buy some of your world liberty financial tokens.
Speaker 1: Just give me access, man. This. I hope things like
Speaker 1: this do not block the Clarity Act from going through.
Speaker 1: And I don't care if you're a Republican, Democrat or
Speaker 1: independent like me. I mean, we got to call stuff
Speaker 1: out like this. It's not good man, that bad, bad
Speaker 1: optics and all these things. But we shall see what happens.
Speaker 1: And there's even a report, you know, Elizabeth Warren, he's
Speaker 1: ready to take this details and what's happening here and
Speaker 1: use it against Crypto And you know, let's see if
Speaker 1: she's able to rally people behind her to block the bill.
Speaker 1: I hope not, but you know, it might be easy
Speaker 1: for her to say, See, I told you guys, see
Speaker 1: right since the beginning and right before the inauguration, Oh,
Speaker 1: this is just bad. All right? Moving ahead, Hong Kong
Speaker 1: is positioning itself as crypto's global connectors, says lawmaker Johnny Nng.
Speaker 1: So we've been talking a lot about it. Hong Kong
Speaker 1: is controlled by China. I believe China's using Hong Kong
Speaker 1: as a testing bed. They are building up their cryptos services, ETFs,
Speaker 1: regulations and much more. And I believe mainland China will
Speaker 1: eventually open up the ETFs to their citizens because it
Speaker 1: helps protect them from capital flight where currency leaves the
Speaker 1: country right and they can put in that ETF rapper.
Speaker 1: So keep an eye on Hong Kong. They've also been
Speaker 1: working on a lot of crypto legislation rules and much
Speaker 1: more so. I think a lot of people are coming
Speaker 1: out of recognizing what's happening. And on the topic of China,
Speaker 1: Chinese President Xi Jinping calls for the yuan to become
Speaker 1: a global reserve currency. So China is watching what's happening
Speaker 1: here in the United States. They're watching the dollar get weak,
Speaker 1: and now they're saying, hey, back our currency as the
Speaker 1: world reserve currency. We know there's been a lot of
Speaker 1: geopolitical talks and you know, kind of Cold War type
Speaker 1: tactics happening with these big superpowers and people trying to
Speaker 1: bypass the dollar. And if you're wondering why gold has
Speaker 1: been going crazy, it is because the central banks China
Speaker 1: and so forth, they've been buying. So I think China
Speaker 1: is what they're trying to do is get as much
Speaker 1: gold as possible, back their currency with that gold, and
Speaker 1: you know, present it to other people. I'm not saying
Speaker 1: it's going to work. I'm just telling you what's happening.
Speaker 1: And of course they have the digital you want, so
Speaker 1: they have the digital version, and you know, there's talks
Speaker 1: of them trying to push that into different economies, like
Speaker 1: in certain countries in Africa where they're doing development. And
Speaker 1: it wouldn't surprise me if they're going to go out
Speaker 1: and say, hey, look, our currency is backed by gold.
Speaker 1: We're back on some sort of gold standard here. Use
Speaker 1: it right, But again that doesn't mean people will. But
Speaker 1: I'm just letting you guys know what's happening now. Cody Carbone,
Speaker 1: who is the sea of the Digital Chamber. I've had
Speaker 1: him on in the pod many times. He said in
Speaker 1: response to this news that the Genius Act was critical
Speaker 1: because of this right here, us the backstable coins when ensured,
Speaker 1: Adulla remains the world of reserve currency. So I think
Speaker 1: he's right that the fact that we have the Genius
Speaker 1: Act and Big Bangs and many others can launch stable
Speaker 1: coins is a good thing to help maintain the US dollar.
Speaker 1: But China and their partners and other global leaders are
Speaker 1: watching all these things. And if China's going to go
Speaker 1: out and say, hey, we have a digital U want
Speaker 1: backed by gold and all that jazz, you use this
Speaker 1: versus the US eller Again, I'm not saying I want that.
Speaker 1: I'm not saying that is going to happen. I'm just
Speaker 1: saying this is what's happening, you know, and we'll see
Speaker 1: how it all plays out. All right, folks, that's the news.
Speaker 1: Let me know what you think. Leave your thoughts and
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Speaker 1: everything you need to know about crypto and blockchain. Folks,
Speaker 1: thank you so much for tuning in. I appreciate you all,
Speaker 1: and I'll talk to you all later