Speaker 1: I've got some major crypto news for you. The SEC
Speaker 1: drops the UNISWAP case, they have acknowledged the staking and
Speaker 1: etherorem ETFs for grayscale, and a big congressional hearing is
Speaker 1: happening tomorrow around crypto. I want to give you the
Speaker 1: details there. And PayPal gives an update around its stable
Speaker 1: coin and what it plans to do. In addition, Ripple
Speaker 1: launches a big report on XRP and institutional investment and
Speaker 1: their roadmap. I'll give you all the details. Let's get
Speaker 1: into it. Hey, everybody, welcome into the Thinking Crypto Podcasts.
Speaker 1: You're home for cryptocurrency news and interviews. I'm your host,
Speaker 1: Tony Edward. On your way in, Please sit that subscribe
Speaker 1: button as well as the thumbs up button and leave
Speaker 1: a common blow. If you're listening on a podcast platform
Speaker 1: such as Spotify or Apple, please leave a five star
Speaker 1: rating and review. Folks, the bloodbath continues with all coins
Speaker 1: bleeding out. Bitcoin currently sitting at eighty eight thousand, five
Speaker 1: hundred and eighty nine dollars, and as we've seen historically,
Speaker 1: bitcoin moves the market. So everyone is waiting for Bitcoin
Speaker 1: to bottom and to start moving upwards, and then we
Speaker 1: know the all coins are going to follow. If you've
Speaker 1: been a follower or subscriber of this podcast, we've talked
Speaker 1: about this a lot and the money flow throughout the
Speaker 1: crypto market, so we're waiting for Bitcoin to find that bottom.
Speaker 1: A good sign is that Bitcoin's RSI and the daily
Speaker 1: chart is in the oversold zone, so we are nearing
Speaker 1: that bottom. And we've seen historically when we're at the
Speaker 1: over bought the market starts to correct. When we're at
Speaker 1: the over sold, the market starts to bounce, So don't
Speaker 1: be surprised that Bitcoin starts to find some strength soon,
Speaker 1: maybe into next week, and starts moving up. We'll have
Speaker 1: to be patient here. One thing that's very positive is
Speaker 1: that global liquidity continues to rise, and we know that
Speaker 1: bitcoin and risk assets are correlated with global liquidity. There's
Speaker 1: usually a lag with bitcoin. Global equity will move and
Speaker 1: then Bitcoin will catch up. So the timing is very
Speaker 1: good here with Bitcoin nearing the bottom and global liquidity
Speaker 1: moving up. I think Bitcoin and the all coins will
Speaker 1: catch up. But this is a very very good sign here.
Speaker 1: Crypto currently highlighted bitcoins consolidation and what he thinks may happen,
Speaker 1: saying every bitcoin chop solidation range. This cycle ended with
Speaker 1: a capitulation event. We're experiencing a capitulation event right now.
Speaker 1: If you guys don't know, he says, I don't think
Speaker 1: this one is any different. The current sentiment and global
Speaker 1: liquidity increasing supports this view. Feels like a final shakeout
Speaker 1: before we head higher. So this is based on the
Speaker 1: data now global liquidity to chart analysis, plus the sentiment
Speaker 1: in the market is that a fear. It actually went
Speaker 1: to extreme fear. So these are positive signs in a
Speaker 1: bull market. In a bear market, they're not positive signs obviously, right,
Speaker 1: But when you have the sentiment in fear in a
Speaker 1: bull market, it's very good, guys. It's actually very bullish.
Speaker 1: And I'm going to look to buy to dip here
Speaker 1: on some of these all coins. I have not bought
Speaker 1: anything yet, but I'm going to take a look at
Speaker 1: the chart, see how things trend out, and maybe add
Speaker 1: a little bit more to my portfolio. But I'm not
Speaker 1: doing major buys because I bought a lot in the
Speaker 1: bear market and in early twenty twenty three, so I'm
Speaker 1: pretty good and my portfolio is up from that bear
Speaker 1: market bottom. It's just in the short term, like many
Speaker 1: of you, I'm down right, but overall from a macroview,
Speaker 1: I'm up over the past two years. So that's how
Speaker 1: you got to look at the market. Guys, if you're
Speaker 1: investing on the one minute chart, the hourly and daily,
Speaker 1: it's not going to work out well for you got
Speaker 1: to have a larger view. So this is certainly a
Speaker 1: local high we're experiencing here, or what took place in
Speaker 1: Q four at twenty twenty four. We're having a correction.
Speaker 1: We'll find the bottom and keep moving. The bull market
Speaker 1: has not been invalidated. Now. The one good thing here,
Speaker 1: the silver lining of this correction is that the mean
Speaker 1: coins are bleeding out, and this is a very good thing.
Speaker 1: We're having a reset. Look at this part coin is
Speaker 1: down ninety percent from its January high. Trump coin it
Speaker 1: is down from seventy five dollars or eighty dollars to
Speaker 1: thirteen dollars. Sure is healing. I am not a fan
Speaker 1: of meme coins. I think it's like going to Vegas
Speaker 1: and gambling. It's like going to the casino, right, But
Speaker 1: I believe people have the right to invest in what
Speaker 1: they want. However, I do believe the law enforcement agencies
Speaker 1: need to step in and stop the bad actors who
Speaker 1: are rug pulling people. There are some meme coins that
Speaker 1: are legit and that have been started for legit reasons,
Speaker 1: but many are rug pulls. Now you look at dosee
Speaker 1: coin and Shiva and Pepe, which have been established for
Speaker 1: a long time, right, they have a community, they have
Speaker 1: developers working in them, you know, those I trust and
Speaker 1: those I'm okay with, you know, investing in. But something
Speaker 1: that was started last night off of a trend, you
Speaker 1: don't know who's behind it. There's no disclosure, there's no details,
Speaker 1: there's no community, there's no developer, just random people going
Speaker 1: to pump up fund and creating these things and then
Speaker 1: they rug people. We can't have that. That is bad
Speaker 1: for this market and it just gives a bad reputation
Speaker 1: to the market. So we need to get that cleaned
Speaker 1: up and hopefully the law enforcement can handle it. But
Speaker 1: great to see these meme coins are bleeding out. Many
Speaker 1: of them are down significantly, and that's good. The liquidity's
Speaker 1: being sucked out of them and it's going to go
Speaker 1: back to Bitcoin. As always, Bitcoin leads the market. Bitcoin
Speaker 1: will pump the liquidity will roll down to the main
Speaker 1: All coins in the market, etherorem XRP Salana and so
Speaker 1: on and so forth. So this is a good sign.
Speaker 1: Now we got big news from the SEC, as we've
Speaker 1: been talking about over the past week guys, that the
Speaker 1: SEC is going to continue to drop cases. Yesterday they
Speaker 1: announced they dropped the robin Hood case. Last week they
Speaker 1: dropped the open Sea and coinbase case, and now they
Speaker 1: have dropped the UNISWAP case. So UNISWAP is a decentralized
Speaker 1: exchange they had received the wells noticed. So great news, guys.
Speaker 1: We are moving in the right direction. Shout out to
Speaker 1: Hester Perce and the SEC Crypto Task Force. They are
Speaker 1: doing amazing work and I can't wait for Paul Atkins,
Speaker 1: the new chair, to get in office. Also, the SEC
Speaker 1: acknowledged grat scales filing to allow staking for its spot
Speaker 1: etherorem etf. This is big, folks, and I think once
Speaker 1: this gets approved, you're going to see a ton of
Speaker 1: inflows into the etheromy taps. It's going to track a
Speaker 1: lot of capital. Now we'll let outpace what Bitcoin did.
Speaker 1: I don't think so. Bitcoin just has his brand, it's
Speaker 1: well known, it's more established. But there will be a
Speaker 1: lot of inflows into this gray scale etf withstaking because
Speaker 1: people will be able to earn the passive rewards. And
Speaker 1: what are the great things that I'm seeing from the
Speaker 1: Crypto Task Force, guys. There's more transparency. They're putting the
Speaker 1: meeting logs who they've been meeting with on the SEC website,
Speaker 1: so you can see here. A lot of the advocacy
Speaker 1: groups in cryptos, such as the Digital Chamber, DeFi Education Fund,
Speaker 1: Blockchain Association met with the SEC Crypto Task Force in
Speaker 1: addition to Robinhood Fidelity. Michael Saylor, I told you guys
Speaker 1: about that, if not yesterday, the day before, it says
Speaker 1: here in NASDAC as well. And remember this is a
Speaker 1: crypto task force, so they're meeting to talk specifically about crypto.
Speaker 1: So really bullish. And as this list expands, it will
Speaker 1: be very interesting to see who else is meeting with them.
Speaker 1: So great stuff here, guys, great transparency. This is what
Speaker 1: we should have had a long time ago, but we
Speaker 1: were dealing with a scumbag regulator by the name of
Speaker 1: Gary Genser. Now tomorrow there's a massive crypto hearing, guys.
Speaker 1: It's the first Digital Asset Subcommittee hearing, headed up by
Speaker 1: Senator Cynthia Lummis. So, this is the Senate Subcommittee on
Speaker 1: Digital Assets. It's their first hearing. I'm very curious what
Speaker 1: they are going to come out and say. So, Senator
Speaker 1: Lummis says, yes, this is a big deal. This is
Speaker 1: the first step towards bipartisan legislation. We'll hear from experts
Speaker 1: who will shape policy on market structure and stable coins.
Speaker 1: Stay tuned for live stream details so you can live
Speaker 1: stream it tomorrow. I'll see if I can do it,
Speaker 1: just depending on the timing, I may not be able to.
Speaker 1: But I'll give you guys the recap at the end
Speaker 1: of the day and the major takeaways. But guys, things
Speaker 1: are moving ahead here. So in addition to the macro backdrop, guys,
Speaker 1: we have the most pro crypto government ever. And this
Speaker 1: is why I'm not bearish. I am so bullish because
Speaker 1: all of these things are aligning. The stars are aligning
Speaker 1: for us here, and despite the market volatility which is
Speaker 1: to be expected, we are setting up for a massive run, guys,
Speaker 1: and for higher prices. So very very bullish. Now quickly
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Speaker 1: be in the description. Now we have an update here
Speaker 1: from PayPal, and I apologize I can give you every
Speaker 1: detail because Bloomberg has a paywall up, but it says
Speaker 1: here PayPal plans to integrate it's stable coin into more
Speaker 1: of its products this year in an effort to address
Speaker 1: all of its merchants needs through a single platform. Guys,
Speaker 1: the stable coin race is on. You got Ripple, r
Speaker 1: L USD, PayPal, Circle USD, Tether USDT, and PayPal. You guys,
Speaker 1: know is a payments giant, and they're going to push
Speaker 1: their stable coin as much as possible. They also have
Speaker 1: a crypto offering. You can buy and sell crypto on
Speaker 1: their platform in addition to the Venmo app. So, guys,
Speaker 1: you're going to see stable coins running behind the scenes
Speaker 1: for many apps. People won't even know that they're using it.
Speaker 1: But that's the point, right They don't necessarily have to know,
Speaker 1: but just that it works, it's faster, it's cheaper, it
Speaker 1: settles instantly. So we got to keep an eye on
Speaker 1: firms like this and watch what they're doing, right because,
Speaker 1: like I said, PayPal is a massive giant, guys, and
Speaker 1: everybody is in this race now. Ripple today introduce a
Speaker 1: roadmap for institutional DeFi on the XRP ledger and it's
Speaker 1: a really great take. Now I can't read through all this,
Speaker 1: it's a lot. I'll give you guys the TLDR, but
Speaker 1: overall it's very good. I love what I see here,
Speaker 1: and it's a clear roadmap as to what they want
Speaker 1: to do. So they tweeted out from multiple accounts saying
Speaker 1: for institutional DeFi to scale, it needs compliance ready, interoperable infrastructure.
Speaker 1: The XRP Ledger it delivers with AMM trading and on
Speaker 1: chain price oracles, tokenized real world assets, decentralized identity for
Speaker 1: secure transactions. They also said here the future of finances
Speaker 1: on chain with enterprise grade compliance features and native decks
Speaker 1: and AMM and tokenization and much more. Now Ripples CTO
Speaker 1: David Schwartz weight in saying it's here Ripple's roadmap for
Speaker 1: institutional DeFi on the XRP Ledger in twenty twenty five.
Speaker 1: As roadmaps go, I personally think this one is pretty great,
Speaker 1: outlining a clear direction with use cases and features available
Speaker 1: and to be proposed of what Ripple will be focused
Speaker 1: on contributing to the XRP Ledger. This here. Now, I
Speaker 1: will have someone from Ripple on next week Whi'll be
Speaker 1: interviewing this person to talk about this. I couldn't get
Speaker 1: David because he's so busy, he's at Denver much more.
Speaker 1: But I'll have someone on from Ripple to talk about
Speaker 1: all these things and what their plans are and to
Speaker 1: go over to details. All right, moving ahead, guys, Gainstop
Speaker 1: urged to convert its five billion dollar cash into bitcoin
Speaker 1: by strives see Matt Cole. So you can see the
Speaker 1: narrative is building here, guys for companies to add bitcoin
Speaker 1: to the balance sheet, and we saw micro Strategy been
Speaker 1: doing that, Tesla of course, and many other companies around
Speaker 1: the world, for example, Meta Planet, it was announced that
Speaker 1: they bought more bitcoin. They bought the dip. They bought
Speaker 1: one hundred and thirty five bitcoin for approximately one point
Speaker 1: nine billion Japanese yen. So, as I've been saying for years,
Speaker 1: I don't think this trend is going to die. It's
Speaker 1: going to continue. Companies will diversify their cash reserves into
Speaker 1: bitcoin to protect the purchasing power and grow it. Of course,
Speaker 1: now I'm a big believer in him doing this. Now,
Speaker 1: I've often been a critical of what Michael Sailor and
Speaker 1: micro Strategy is doing because they're using unreasonable amounts of leverage,
Speaker 1: which I think is very risky. I'm not mad that
Speaker 1: he's buying bigcoin or upset about I'm just saying the
Speaker 1: leverage worries me. And some people have said, why do
Speaker 1: you care? Who cares what Michael Sai is doing? Because
Speaker 1: if that thing collapses, it's going to be very bad
Speaker 1: for the crypto market. Guys. It'll be detrimental for the
Speaker 1: entire crypto market because as we started the podcast with
Speaker 1: the market moves a bitcoin. So I hope nothing bad happens.
Speaker 1: I hope everything is going to be okay. But this,
Speaker 1: you know, the amount of leverage worries me. But companies
Speaker 1: who are simply taking a portion of their cash that
Speaker 1: they have in their reserves and putting into bitcoin not
Speaker 1: a big deal because they're not using leverage. They already
Speaker 1: have the cash, it's sitting there and it absolutely makes sense.
Speaker 1: So let's see if GameStop decides to do this. Guys,
Speaker 1: we're seeing a lot more companies globally doing it. Obviously
Speaker 1: Tesla and SpaceX do it as well, so we shall see.
Speaker 1: And a big catalyst but I'm doing it will be
Speaker 1: if like the United States government is able to pass
Speaker 1: the Bitcoin Reserve Bill, because then if the government is due,
Speaker 1: it kind of gives the okay to the private sectory,
Speaker 1: to private market right to do these things. So I
Speaker 1: think the best is yet to come with stuff like this. Guys,
Speaker 1: that's the news. Let me know what you think. Leave
Speaker 1: your thoughts and comments below, hit the thumbs up button.
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Speaker 1: the description. Thank you guys for watching and listening. I
Speaker 1: appreciate you all and I'll talk to you all later.