[SPEAKER_00]: All right, everybody, welcome back to the crypto 101 podcast.
[SPEAKER_00]: Bitcoin is sitting at critical levels right now, but behind the scene, something much bigger is happening.
[SPEAKER_00]: We're seeing tons of ETF flows stay strong.
[SPEAKER_00]: New price targets from TD Cowan are getting raised back into the hundreds of thousands of dollars for Bitcoin.
[SPEAKER_00]: And some of the biggest buyers continuously step into the market.
[SPEAKER_00]: So the real question isn't just where the price is going.
[SPEAKER_00]: It's why money is still flowing in nonstop into the crypto and Bitcoin markets.
[SPEAKER_00]: Welcome to the crypto run now.
[SPEAKER_00]: We got an awesome Monday show for you.
[SPEAKER_00]: Long lost.
[SPEAKER_00]: He's back.
[SPEAKER_00]: Alas, Brendan joins us.
[SPEAKER_00]: We're going to be getting up the charts going very soon.
[SPEAKER_00]: We're just after we introduce Brendan.
[SPEAKER_00]: Brendan, welcome back to the show, my friend.
[SPEAKER_00]: I feel he's been a while.
[SPEAKER_01]: I know, and well, every time it's like I take a little break, I have my return, then I get busy doing other things, but it does look as if things are starting to cool down a little bit on our end, which means that I get to make more appearances, we get more rundowns, you all get more videos.
[SPEAKER_01]: It's the circle of life that helps out everyone, but like Divo said, happy freaking Monday, everyone.
[SPEAKER_01]: Pretty good one here for the crypto market.
[SPEAKER_01]: I do say so myself Bitcoin up 2% Theory I'm up one and a half salana up over 2% hyper liquid trying to push here T0 to new yearly highs
[SPEAKER_01]: up over five and a half, five-ish percent, which is a good thing to see.
[SPEAKER_01]: So, man, I'm stoked.
[SPEAKER_01]: I mean, there's all sorts of positive technical developments, and I know here on the run down we haven't had as much technical action, so I'm sure to dive into that today, but lots of stuff on the fundamental end as well.
[SPEAKER_01]: Where do we even begin?
[SPEAKER_00]: Yeah, it's a we've just been beginning you to the top of the show with like that macro update obviously Um, it drives markets the market force with the war iron the only update over the weekend was there was a uh, there was a summit of vice president vances there And talks overseas with Iranian leadership on it came out of the meeting that the headline Saturday night was Um
[SPEAKER_00]: a lot of points were agreed on but the nuclear point was not uh... so there was no deal agreed upon and that led to uh... the president saying that they were going to blockade the straight up for moves uh... which at this point just see there's so much talking go it's a lot of jargon uh... it feels like it's it's more just a verbiage and like what's changed is really nothing because the straight up moves nothing's
[SPEAKER_00]: say it's open, it's closed, it's open, but then only certain amount of ships are going through.
[SPEAKER_00]: Now the U.S. is going to do a blockade.
[SPEAKER_00]: I don't really know what to make of it.
[SPEAKER_00]: It's not, that's not why you come to the show.
[SPEAKER_00]: So we're not going to dive into that.
[SPEAKER_00]: I will say the headlines, the headline came out Saturday night in the market dropped a little bit, Bitcoin, Ethereum, something, you know,
[SPEAKER_00]: The initial reaction was lower and then recovery into Sunday and into Monday and it just kind of feels like it was one of those like is a headline risk But I don't think really anything's changed that much fundamentally, but again, that's not really our place in time So I just want to give everybody an update on that
[SPEAKER_00]: Um, but I think we could really just dive and open up the open up the charts here.
[SPEAKER_00]: We're so glad to have you back and just see what's been going on.
[SPEAKER_00]: It's been a couple weeks.
[SPEAKER_00]: Um, and it feels like there's a little bit more clarity as much as there's always as back and forth on the macro level.
[SPEAKER_00]: Uh, there's some clarity of where price is tending note to want to go.
[SPEAKER_01]: Yeah, I mean, you're right, this is that move that you talked about, you know, markets open up Sunday night after that news.
[SPEAKER_01]: You still have everything, you know, Bitcoin, equities, indices, everything kind of gap down the futures market, um, gap down about one and a half percent for NASDAQ.
[SPEAKER_01]: And here's that move for Bitcoin, along the same timeline, um, Bitcoin taking a much steeper move to the downside about double that closer to three percent.
[SPEAKER_01]: But that's pretty normal, you know, bitcoins, almost always been more volatile than as that in both directions, but when you see good and bad catalysts happen, you tend to get a bit of a overreaction depending on what kind of news we get.
[SPEAKER_01]: So Bitcoin here sharply recovering, though, as it's moving back up, you see Bitcoin, again, green 2% on the day, kind of outperforming what we're seeing in the indices.
[SPEAKER_01]: And the season up about half a percent for NASDAQ and the S&P, Bitcoin up here about 2%.
[SPEAKER_01]: just over that.
[SPEAKER_01]: And depending on the crypto project around that area as well.
[SPEAKER_01]: So again, good move here from crypto as we are recovering back to the upside.
[SPEAKER_01]: Lots of headlines, Tivo.
[SPEAKER_01]: One of the things I've been saying over in the trading sessions is that
[SPEAKER_01]: The market that we have right now is very catalyst driven.
[SPEAKER_01]: It's very emotional.
[SPEAKER_01]: The news is running.
[SPEAKER_01]: Headlines are running price action.
[SPEAKER_01]: It's just an emotional catalyst driven market at the moment, which means that there's lots of nasty choppy whip
[SPEAKER_01]: whiplash like price action here.
[SPEAKER_01]: Um, so if we're all the traders out there, guys, this is a really frustrating time to be trying to trade this stuff, but in terms of long term value, I think we're setting up for a tremendous long term value opportunity.
[SPEAKER_01]: And that's where I believe that we sit right now.
[SPEAKER_01]: So if we're looking at Bitcoin here, just right off the bat.
[SPEAKER_01]: I have this like rising channel where Bitcoin's been rising from kind of its low point to its high, to a higher low, higher high, higher low, higher high, you know, and so on and so forth.
[SPEAKER_01]: And so we've seen price gradually just appreciating up into the right.
[SPEAKER_01]: Now this in and of itself is a decent thing to see, right?
[SPEAKER_01]: We're not pushing lower.
[SPEAKER_01]: However, one of the big patterns of this year as we've talked about have been these kind of move-down, rising channel, move-down, rising channel, and we kind of see this bear-flock pattern rinse and repeat as we've seen here.
[SPEAKER_01]: here, here, and now the big question is, well, guys, is this going to be another one of those bare flags?
[SPEAKER_01]: Because they've varied in size, right?
[SPEAKER_01]: You have some smaller ones, you have some bigger ones.
[SPEAKER_01]: Now people are looking at this and saying, hey, it's somewhat behaving like this.
[SPEAKER_01]: Again, however, I think we are,
[SPEAKER_01]: approaching the worst of it.
[SPEAKER_01]: I've started to see some people say, hey, the bottom is officially in.
[SPEAKER_01]: I would say, I am leaning more towards that camp.
[SPEAKER_01]: I still believe we can have one more leg down.
[SPEAKER_01]: I would not rule that out and who knows, right?
[SPEAKER_01]: Things can always change.
[SPEAKER_01]: But I think that the worst of it is behind us, right?
[SPEAKER_01]: I believe now that there is more upside risk as opposed to downside risk.
[SPEAKER_01]: So what that means is, hey, maybe we do need one more flush, but again, maybe that brings us into the 50,000s, I personally don't see us going much lower than that if we even get to do that, which at this point, you know, some people are saying, hey, that could be a stretch.
[SPEAKER_01]: But I'm looking at it now and saying, hey, maybe we need the flush into the 50,000s, but that's about the extent of the downside that I see at this moment.
[SPEAKER_01]: Now, to the upside, I think that there is plenty of room to move up.
[SPEAKER_01]: I think the number one area, let's give two areas.
[SPEAKER_01]: Two areas that I'm looking at here.
[SPEAKER_01]: Number one, saying, hey, maybe we move to a slightly higher high, we'll extend this channel out a little bit, and we'll look at it like this.
[SPEAKER_01]: That would say, okay, well, maybe if we move back up to the prior highs, it's saying, hey, mid to upper 70s, you probably run in the turbulence again.
[SPEAKER_01]: After that, I think that the real price target that I have is around the mid $80,000 level.
[SPEAKER_01]: Now, there's a million reasons why we can look here.
[SPEAKER_01]: You can look and say, hey, this is where our previous bear flag was.
[SPEAKER_01]: This is where our prior support that'll likely turn into resistances.
[SPEAKER_01]: If you draw an anchored VWOP or an anchored volume weighted average price, you anchor that from the all-time high and you get this orange line right here, which is right around $84,000.
[SPEAKER_01]: You have the 200-day moving average at $87,000.
[SPEAKER_01]: You have a huge volume point of control sitting right around in here as well.
[SPEAKER_01]: So, no matter which way you look at this, there is a lot that's going on around this mid-$80,000 level.
[SPEAKER_01]: And I think that's what makes the most sense if we're going to go anywhere to the upside saying, hey, let's look at the mid 80,000, that should be the big target, and then we'll re-evaluate, but in terms of long-term, you know, I'm obviously very bullish on the long-term, call me bias.
[SPEAKER_01]: But we're running a podcast called, you know, the crypto 101.
[SPEAKER_01]: So I'm going to be biased towards the long term, but I would even say, you know, looking at this as just just raw risk versus reward.
[SPEAKER_01]: I'm kind of looking at this saying, hey, you know, if it fails, maybe we go down here, but in terms of the upside, I think bare minimum, we're looking at 80,000, if you get a full reversal, you know, I'm a believer that new all-time highs are still possible for Bitcoin.
[SPEAKER_01]: Now, are we going to see those this year?
[SPEAKER_01]: Maybe, maybe not.
[SPEAKER_01]: I'm not convinced that we'd see no all-time highs this year.
[SPEAKER_01]: I am convinced that we will see no all-time highs.
[SPEAKER_01]: Maybe that's this year.
[SPEAKER_01]: Maybe it's next year.
[SPEAKER_01]: You know, for me, it's a matter of when not, you know, if we're able to, but that's what I'm looking at over here on Bitcoin now.
[SPEAKER_01]: So if we do get a turnaround, number one, I want to see us hold above these short term moving averages.
[SPEAKER_01]: We are starting to see this happen again.
[SPEAKER_01]: We had
[SPEAKER_01]: What was a death cross now looks like we're trying to have a golden cross again and we're trying to cross these moving averages and point them back towards the upside which is the 20 in the 50 day right here.
[SPEAKER_01]: So I want to see price action holding above the short term moving averages continue to hold higher lows and we really want to see a push through the ceiling of this resistance, right?
[SPEAKER_01]: We've seen slightly higher highs.
[SPEAKER_01]: What we need to invalidate this is a very sharp higher high.
[SPEAKER_01]: So we're not, we don't want to just continue the pattern of this rising channel like this.
[SPEAKER_01]: No, we want to see a full breakout.
[SPEAKER_01]: Maybe we break out through that prior high, test it as support, shoot up towards this next level.
[SPEAKER_01]: That would be a good sign saying, hey, we are breaking out.
[SPEAKER_01]: We are reversing from this structure that we've had, which has been so far.
[SPEAKER_01]: You know, move down bare flag, move down bare flag, move down bare flag, rinse and repeat.
[SPEAKER_01]: But if we can break that cycle,
[SPEAKER_01]: and even draw a little bit of the trend line here and say, hey, if we can break the entirety of this downtrend, then that's where you can start really looking at this.
[SPEAKER_01]: And if you draw the all-time high resistance line here, that trend line, you can see that, hey, we are beating up against that level right now.
[SPEAKER_01]: If we are able to break through here, if we are able to shoot ourselves into a higher high,
[SPEAKER_01]: It's not a bad spot for Bitcoin.
[SPEAKER_01]: It does look like strength is returning.
[SPEAKER_01]: You have that RSI level, looking pretty decent as well.
[SPEAKER_01]: The only thing that I'm looking at on the relative strength index indicator is saying, hey, we've seen lower highs for quite some time here on Bitcoin, going all the way back to November of 2024.
[SPEAKER_01]: We've moved up, seen lower highs, lower strength, lower strength, lower strength, lower strength, lower strength, so I'm a little
[SPEAKER_01]: little bit nervous around this area, saying, hey, if we do get a big rejection, that could probably bring us back into the 50s.
[SPEAKER_01]: But if we don't, and again, we break this, I think it's a lot more ammo into the side of a reversal has happened.
[SPEAKER_01]: So we're out of pivotal point.
[SPEAKER_01]: We could reject here, probably seeing new lows in the 50s, but if we break here, it's looking awful, awfully like a trend reversal.
[SPEAKER_01]: One of the final things I'll talk about here with Bitcoin is that if you zoom out to a weekly timeframe or a monthly timeframe, I'm gonna bring us over here to another chart.
[SPEAKER_01]: You can see that every single kind of market bottom in top on this relative strength index, whether you're looking at the monthly, which is what we have right here, or even the weekly chart, which is what we have right here, they tend to bottom and top out around the same areas, since 2010.
[SPEAKER_01]: So we're basically going all the way back in Bitcoin's chart and saying, hey, according to the relative strength index, where do we typically bottom and top out,
[SPEAKER_01]: generally speaking.
[SPEAKER_01]: Well, you know, it's pretty consistent.
[SPEAKER_01]: I have all the arrows kind of highlighting all the different peaks and troughs.
[SPEAKER_01]: But we pretty much hit this to a T saying, hey, we kind of hit this area.
[SPEAKER_01]: We bounced up and the caters now can like lag a little bit in nature.
[SPEAKER_01]: So that doesn't, that might not always mean that the actual price bottom is in, but it typically, hey, the worst of it can be behind us.
[SPEAKER_01]: Now, so I look at this and say, hey, you know, again, I do, I would look at this and say, hey, there's probably more upside risk.
[SPEAKER_01]: as opposed to downside risk.
[SPEAKER_01]: So I'm gradually becoming more and more bullish here.
[SPEAKER_01]: We're still at a pretty, you know, interesting time in the market.
[SPEAKER_01]: But I think it's hard to look at this and just wipe it off and be like, ah, you know, there's no real value here.
[SPEAKER_01]: You know, we're gonna tank in the new lows.
[SPEAKER_01]: I have a hard time.
[SPEAKER_01]: being fully bearish here.
[SPEAKER_01]: I think that there's still bearish evidence and excuse me, a bearish argument to be made, but to be fully bearish here with ending nor some of the bullish data that we're finally starting to see.
[SPEAKER_01]: You know, I think it's a little bit kind of tunnel visions, it's probably the best way to put it.
[SPEAKER_01]: Other things here, before I hand it back to your TV, I was just, you know, Ethereum here, one of the better performers in the market trying to really push and break out.
[SPEAKER_01]: Ethereum has kind of been outperforming most other projects.
[SPEAKER_01]: Lana, I'd say mid-performing here not necessarily underperforming, but not overperforming.
[SPEAKER_01]: Just still very much chopping sideways.
[SPEAKER_01]: I think one of the big winters here is Hyperliquid trying to push to new 2026 highs.
[SPEAKER_01]: If it does break out here to 44 bucks, this will have been the highest level that we have seen since around October of last year.
[SPEAKER_01]: And so, yeah, I mean lots of stuff happening, lots of price action and updates and lots going on
[SPEAKER_00]: Yeah, a lot of fun price action there to kind of recaps and you've last joined us and yeah, I think it's kind of like an interesting pattern the RSI that thought that was my my favorite part of what you just went over kind of there thought that was really interesting dating that.
[SPEAKER_00]: I think it's uh... yeah feel it feels like a by the dip moment it feels like something where we kind of say a zoom out like you know obviously there's the ups and the downs of the market that come and you never know what's going to be kind of that black swan event um... but if uh... the macro holds and things push forward we've kind of talked about on the show a lot is is you know before this uh... world of that happened
[SPEAKER_00]: Everything looked pretty good, like the economy looked good, inflation looked good, and then this is obviously a bigger curve ball to that.
[SPEAKER_00]: And then you're also going into the fall of midterm, so midterm year elections, always very interesting for markets.
[SPEAKER_00]: And we can kind of touch on that with an interesting topic later that might ensue with that.
[SPEAKER_00]: But any,
[SPEAKER_00]: Any thoughts?
[SPEAKER_00]: Any final thoughts?
[SPEAKER_00]: I asked the chat.
[SPEAKER_00]: I put in the chat.
[SPEAKER_00]: If you guys have any questions, we are live.
[SPEAKER_00]: So if you want to throw something in there, let us know.
[SPEAKER_00]: We can answer it.
[SPEAKER_00]: We've got an extra tune in from the Canary Islands on vacation and what a what a legend tune in on vacation nonetheless.
[SPEAKER_00]: But we said before the show, we want to switch places with them.
[SPEAKER_00]: Yeah.
[SPEAKER_00]: Everybody for for joining.
[SPEAKER_00]: And if you could, just give it a thumbs up.
[SPEAKER_00]: And it helps us grow.
[SPEAKER_00]: And if you're new, bottom right hit subscribe.
[SPEAKER_00]: And if you're
[SPEAKER_00]: He liked the charts, Brendan hasn't been here because he's been locked into his community and doing this doing his micro-bore on course where he gets to learn the charts and learn the technicals, and then also do live trading sessions with him like this twice a week.
[SPEAKER_00]: So if you're having any interest in that, check the description below, the links there for you to get more info on that.
[SPEAKER_00]: Any final thoughts, Brendan on the charts for moving on?
[SPEAKER_01]: One final thought that I just thought of here is that if I could offer everyone one more kind of zoomed out perspective, it would be the 200 week moving average.
[SPEAKER_01]: Now, throughout the last several cycles, we have touched this a couple of different times.
[SPEAKER_01]: You can look at it over here in the 2000 like 15 cycle.
[SPEAKER_01]: 1819 cycle, the 2023 cycle and of course, where we're at right now in 2026.
[SPEAKER_01]: You know, every single time we've kind of come down here, found support around the changer-to-week moving average, resumed into the next bullet market.
[SPEAKER_01]: Came down here, bottomed out, resumed into the next bullet market.
[SPEAKER_01]: You know, found it over here during COVID, found it over here, and this was probably the worst example where we came beneath it, but then we resumed into the next bullet market.
[SPEAKER_01]: And again, over here again, it looks as if we're really bouncing off of this pretty well.
[SPEAKER_01]: So you have to, again, look at historical data.
[SPEAKER_01]: I would zoom out and say, historically, we find support around here.
[SPEAKER_01]: There was one maybe exception, where we spent some time underneath the 200-week moving average.
[SPEAKER_01]: But again, the result was the same.
[SPEAKER_01]: We might have fallen through it, but then we resumed into the next bull market.
[SPEAKER_01]: I look at it this time again and say, hey, it doesn't look too bad from a more zoomed out perspective.
[SPEAKER_01]: Historically, we come to these levels.
[SPEAKER_01]: We bought them out.
[SPEAKER_01]: We resume to the upside and it's kind of the long-term picture that I'm looking at over here.
[SPEAKER_01]: You know, maybe we need to retest it one more time.
[SPEAKER_01]: Again, I would not rule that out, the same, maybe we need to test it one more time.
[SPEAKER_01]: But again, long-term value down here, I still think is pretty convincing.
[SPEAKER_00]: Great points and great points and there's there's a there's kind of like we've said it's matters macro data to pull that up and in the in the space right it just there's a lot of great news surrounding the space and price action hasn't followed but kind of like your chart shows there for the long term it's like eventually.
[SPEAKER_00]: the price traditionally has has caught up to the good news and so just continuing on that Sawyer from Bloomberg another solid week for Bitcoin ETFs last week obviously there's the Morgan Stanley Bitcoin ETF launchers great But I thought this was cool the the Bitcoin ETFs are now officially positive Year to date for for flows which which is great the Eric says boomer strong
[SPEAKER_00]: as the boomers, there are diving in and buying the dip, and so you can't really blame the selling on these ETFs, right?
[SPEAKER_00]: There's no mass selling.
[SPEAKER_00]: It doesn't seem like with with with year to date inflows being positive.
[SPEAKER_00]: So I thought that was that was cool.
[SPEAKER_00]: And then a couple of just quick hitters then we could just kind of open it up for discussion, Brendan, strategy had a big buy.
[SPEAKER_00]: big buy this morning announced a billion billion dollars of Bitcoin.
[SPEAKER_00]: That's one of the larger buys sailors done recently.
[SPEAKER_00]: So that's quite a big buy.
[SPEAKER_00]: And we also have Tom Lee, a bit mine bought a little bit more Ethereum.
[SPEAKER_00]: It wasn't too much, but they just continuously keep buying as well.
[SPEAKER_00]: And then a price target from TD Cowland.
[SPEAKER_00]: I thought this was a
[SPEAKER_00]: This is kind of something that's, you know, not on the same side of the boat as everybody else.
[SPEAKER_00]: TD Cowan says Bitcoin to hit 140,000 this year, issuing a by-rating.
[SPEAKER_00]: So, you know, again, there's, there's a lot of bullish news on the street.
[SPEAKER_00]: There's a lot of bullish news in the data with ETFs.
[SPEAKER_00]: Anything and everything of that little quick hitter ran, Brent, what's stuck out to you?
[SPEAKER_01]: I mean, the markets,
[SPEAKER_01]: They're always going to go up and down.
[SPEAKER_01]: And this is going to sound super basic, but I think it needs to be said.
[SPEAKER_01]: The markets go up and down.
[SPEAKER_01]: And we've had this extended period of time now.
[SPEAKER_01]: Or again, all risk on assets have been getting just peppered since October.
[SPEAKER_01]: It's across the board.
[SPEAKER_01]: You look at software, you look at financials, you look at
[SPEAKER_01]: you know, anything that's tech heavy and as that hasn't really hit convincing highs since October.
[SPEAKER_01]: And then so people always like to go, oh, why is Bitcoin doing so bad?
[SPEAKER_01]: Why isn't it hitting new highs?
[SPEAKER_01]: It's like, well, guys, it's just about everything that's getting peppered here.
[SPEAKER_01]: Even like large, you know, household name and staples or down 30, 40% you have things like Microsoft, right, and Oracle and all these other companies.
[SPEAKER_01]: So it's not just crypto here.
[SPEAKER_01]: I say that, you know, we go through these periods where guys we're in a raging bull market and then we're in these pretty tough bear markets.
[SPEAKER_01]: But the one thing that is proven to be true, you can say this for every single prior cycle, the one thing that has worked is buying the dip.
[SPEAKER_01]: And so there's going to be two groups of people here.
[SPEAKER_01]: There's going to be the people that go out.
[SPEAKER_01]: They sell it all at the very bottom.
[SPEAKER_01]: And this happens every cycle and it's so unfortunate.
[SPEAKER_01]: But they go, they sell out, they get tired, you know, they capitulate, they sell, and then, you know, you know, maybe a couple months later, sometimes it's a year or two later, but Bitcoin resolves to new all-time highs.
[SPEAKER_01]: And so, uh, let it go.
[SPEAKER_01]: Again, I can only speak for myself here personally, but I've been accumulating here.
[SPEAKER_01]: And you see everyone else accumulating, whether it's TD Cowan, whether it's, you know, strategy, whether it's, um, timely and bit-mind, whether it's these banks and the ETF providers that are all starting the flip positive on inflows, like, there's a million of different things you can look at and saying, well, what is the big money doing?
[SPEAKER_01]: And it's, well, they're buying the dip, right?
[SPEAKER_01]: They're used to this.
[SPEAKER_01]: They have been through so many different market.
[SPEAKER_01]: like making events, so many different blacks want events.
[SPEAKER_01]: And they buy the dip when they see long-term value.
[SPEAKER_01]: And we don't always have to over-complicate it.
[SPEAKER_01]: It's, hey, this is down a lot.
[SPEAKER_01]: You see tons of institutional buying.
[SPEAKER_01]: It has always recovered.
[SPEAKER_01]: And I would look at that and say, hey, you know, we're not, it's not some magic thing where we're gonna be back at new all-time highs tomorrow.
[SPEAKER_01]: But at least if you're here in your watching this, you're probably
[SPEAKER_01]: somewhat convinced in the very least, that you should have Bitcoin exposure for the long term.
[SPEAKER_01]: And that's really what this is about.
[SPEAKER_01]: So again, we have the saying, when in doubt, zoom out, and there's a lot of good stuff that's happening here.
[SPEAKER_01]: I think the big reason why we're starting to get by signals is A.
[SPEAKER_01]: I think people are starting to price in and become somewhat numb to a lot of the geopolitical energy news, all that stuff, all the fun that we've seen for the last six months.
[SPEAKER_01]: Whether it's the private credit, whether it's the clarity act, whether it's energy or geopolitics or the fat or whatever, people are becoming so callous and numb to all these different headlines.
[SPEAKER_01]: And they're like, okay, well, we've heard about this now for sometimes some of these more
[SPEAKER_01]: And people are just getting over it.
[SPEAKER_01]: They're like, all right, what's going to happen is going to happen.
[SPEAKER_01]: And you know, people have priced it in.
[SPEAKER_01]: And I think people are coming back now.
[SPEAKER_01]: And realigning with what they believe in the long term.
[SPEAKER_01]: And so I think for a lot of people that spit coin, but that's where I stand.
[SPEAKER_00]: That's a great point, and it really is a bear market in unique different ways where, you know, the S&P that has deck aren't down, you know, 15, 20% but man, some of those sectors, which we covered on the show months ago, like we covered the IGV right.
[SPEAKER_00]: six months the IGV's down 31% some of those private credit funds like blue out are down 45% these private credit fears so there's a lot of you know risk off behavior and selling going on and you know if you compare that's a bit coin it's you know part for the course even performing slightly better especially in the wake of the war right the coin and crypto Ethereum all that had a little bit of a bounce and kind of led the way through through the
[SPEAKER_00]: But there's more again more bullets news to cover there's some new products coming online We got black rocks launching.
[SPEAKER_00]: It's big Bitcoin ETF officially the ticker's gonna be BITA Looking to bring some yield for the Bitcoin You know holdings and I think this is interesting we covered it a while ago I think when they announced it, but it's finally getting filed and going through
[SPEAKER_00]: Uh, kind of, I guess kind of doing that financial alchemy in a way, right?
[SPEAKER_00]: That sailor does trying to get some yield off the Bitcoin selling some calls, uh, playing the volatility.
[SPEAKER_00]: So is this, uh, is this interest you?
[SPEAKER_00]: Is this, uh, are you, like, you know, sailors got all his different options?
[SPEAKER_00]: I don't know if you've ever dove into them.
[SPEAKER_00]: Um, and then looks like black rocks trying to play a little bit of the cards as well.
[SPEAKER_01]: You know, truth be told, I don't get too interested in these kind of things.
[SPEAKER_01]: You know, why am I in Bitcoin?
[SPEAKER_01]: I think that's what it comes back to.
[SPEAKER_01]: It was why am I in Bitcoin in the first place?
[SPEAKER_01]: And it's usually because, hey, you believe that there's good upside in this alternative asset and the technology and all these things like, I'm not in it to get a yield or a dividend or steady income.
[SPEAKER_01]: You know, I'm in this thing to play big, right?
[SPEAKER_01]: I mean, it's a risky volatile asset.
[SPEAKER_01]: That's what I wanted to be.
[SPEAKER_01]: That's the goal of it.
[SPEAKER_01]: I'm not coming in here saying, oh, you know, because what these do is essentially, I'm going to, you know, make a very strong and dumb down version of this, but what these income ETFs are is saying, hey, you're going to get reduced reduced volatility and exchange for consistent income and consistent dividends.
[SPEAKER_01]: And that's the way that these things work, but I'm in Bitcoin because I want the volatility.
[SPEAKER_01]: I think there is substantial upside.
[SPEAKER_01]: I think that there are all these big volatile factors that I like.
[SPEAKER_01]: That's why I'm in it, because I'm very convinced.
[SPEAKER_01]: And what this is doing is saying, hey, you can get consistent dividends and incomes and yields off of it, but you're going to most of the time have reduced volatility.
[SPEAKER_01]: So if that's your thing, by all means,
[SPEAKER_01]: I'm just not looking at the market where it's out right now.
[SPEAKER_01]: I don't want reduced upside at this point in the market.
[SPEAKER_01]: I think that the market has seen substantial downside.
[SPEAKER_01]: I want all of the upside risk here, not all, but you know what I mean, right?
[SPEAKER_01]: I don't want to limit my upside risk at a time where the market is so heavily discounted.
[SPEAKER_01]: So again, these things are cool.
[SPEAKER_01]: They have a place.
[SPEAKER_01]: I know people who like these bi-all means go for them.
[SPEAKER_01]: Nothing wrong with them.
[SPEAKER_01]: Just for me personally,
[SPEAKER_00]: it maybe it's because I'm a little bit more of a trader right I have that mindset but for me personally I would rather just have spot bitcoin ETF exposure as opposed to one of the income ETFs that's fair enough and it's a great explanation but if the if I can't interest you in a black rock income yield ETF can I interest you in a hyper liquid ETF uh... bit wise update keeps updating the hyper liquid ETF we've got a ticker looks like it's
[SPEAKER_00]: 67 bips of a fee which means the launch is coming up soon we said at the top of the show hyper liquid was moving on on some news today So that's good and bit wise trying to capitalize on the the hot year with hype up 200% so high BTF.
[SPEAKER_00]: I mean I guess
[SPEAKER_00]: you know full full accountability we both have a little bit of exposure to hype um... and you know i don't know not gonna dive into the tf necessarily but unlocking uh... some opportunity for others
[SPEAKER_01]: I need a gavel here where I can just smash my gavel down and say, sold, yeah, no, I'm sold.
[SPEAKER_01]: I'm sold on this one, man.
[SPEAKER_01]: You can't tell, and maybe you're newer here.
[SPEAKER_01]: I'm a huge hyperliquid fan.
[SPEAKER_01]: I've become a bigger and bigger fan as time is going on as they've performed and added new features and the proposals and the grown.
[SPEAKER_01]: I'm a big fan.
[SPEAKER_01]: I've already got exposure to this thing.
[SPEAKER_01]: I am all for the idea of,
[SPEAKER_01]: in a spot ETF for this.
[SPEAKER_01]: So, I mean, take my money at this point.
[SPEAKER_01]: I mean, hack.
[SPEAKER_01]: Maybe all, one of the things I like to do, Tivo, is I like to do options.
[SPEAKER_01]: Me and you are always talking about options stuff over here.
[SPEAKER_01]: But, you know, one of the things you can do is you can sell options.
[SPEAKER_01]: So, I'd be curious to see how we're going to be able to do options with this ETF.
[SPEAKER_01]: If we are, I would potentially exchange or sell my actual hyper liquid for this ETF so that way I can run options against it.
[SPEAKER_01]: That's just a thought that I have here.
[SPEAKER_01]: I've done that with a little bit of my Bitcoin.
[SPEAKER_01]: I haven't done it with any of my Ethereum or Solana yet, but I have done it with some of my Bitcoin.
[SPEAKER_01]: Just so I always have the option if I want to sell calls or sell puts or do whatever.
[SPEAKER_01]: It's a nice little tool in the tool kit.
[SPEAKER_01]: But I'm a fan of this.
[SPEAKER_01]: I also think it shows how much attention has been pushed towards hyperliquid and how much they've grown.
[SPEAKER_01]: They've managed to break themselves into the top 10 by market cap.
[SPEAKER_01]: And their statistics, if you haven't looked at that, I mean, that could be its own episode with how fast they're growing and how much revenue they're making.
[SPEAKER_01]: And of course, all of this is supported by a buyback program where the vast majority of their revenue goes toward the vast majority of
[SPEAKER_01]: Was it revenue or profit I forget, but it goes towards buying back the token, which of course helps appreciate price.
[SPEAKER_01]: So big fan of this, big fan of hyperlink with.
[SPEAKER_00]: Yeah, another another project that we have in a fan on and had some interviews for and talked about newsletters and communities and had some decent price action and is a camps on network and they have a couple of announcements that came out.
[SPEAKER_00]: I saw was JP Morgan.
[SPEAKER_00]: expanding JPM coin using the Canton network via kinxes on 26 so they're they like what is going on there looking to expand it and then also hsbc with some some international play hsbc is huge money management for in Asia and London and Europe I can't network getting a nod nod for some use there, Brennan
[SPEAKER_01]: I listen, I like Canton a lot.
[SPEAKER_01]: We've had two different podcasts around Canton and one with the actual team, one with one of the big treasury companies and backing companies.
[SPEAKER_01]: I've got nothing but good things to say about them.
[SPEAKER_01]: Tiva, do you know if the salon of podcasts that we did recently is live?
[SPEAKER_00]: Yeah, it's going up tomorrow.
[SPEAKER_00]: So if you're listening to this, well, I guess we'll put up Wednesday.
[SPEAKER_00]: So whenever you're listening to this, it'll be out this week.
[SPEAKER_00]: So yeah, it's exciting.
[SPEAKER_01]: Well, I really, really like Canton.
[SPEAKER_01]: I like what they do.
[SPEAKER_01]: They have crushed it from a partnership perspective and actual operationals, really like them.
[SPEAKER_01]: The one thing I bring up the Salana Foundation podcast, which will be coming out this week, is because on that podcast, I brought up Canton.
[SPEAKER_01]: And there was a little bit of shade thrown.
[SPEAKER_01]: I don't know if you caught it.
[SPEAKER_01]: The guests that we had on fantastic guests,
[SPEAKER_01]: I listen, I'm a big supporter of Solana as well.
[SPEAKER_01]: I like Solana and Canton, but there's a little bit of shade thrown at them with, I thought was funny, so for all of you that are curious, you're going to have to tune into it.
[SPEAKER_01]: But I think Canton continues to do well.
[SPEAKER_01]: One of the questions that we've got over here,
[SPEAKER_01]: is guys why have they stopped moving up?
[SPEAKER_01]: They were outperforming.
[SPEAKER_01]: They were running.
[SPEAKER_01]: Well, it's because they moved almost 300% to the upside.
[SPEAKER_01]: Well, everything else was in a free fall.
[SPEAKER_01]: Well, everything else was in a bear market.
[SPEAKER_01]: They had a near 300% move to the upside.
[SPEAKER_01]: What they've done recently is they've gone into a little bit of a consolidation and cool off period.
[SPEAKER_01]: I mean, God forbid that happens after a 300% move.
[SPEAKER_01]: But,
[SPEAKER_01]: This is another project that I like.
[SPEAKER_01]: One of the things that we see in crypto is that new projects come out.
[SPEAKER_01]: They're simply just better than old ones and they steal their market share.
[SPEAKER_01]: They steal their market cap and they just take their place.
[SPEAKER_01]: And you have some of these older projects bleed into the newer ones.
[SPEAKER_01]: I think that's what you're seeing with Hyperliquid.
[SPEAKER_01]: Look at a lot of those old perpetual exchanges.
[SPEAKER_01]: You have GMX and there's a million other ones out there.
[SPEAKER_01]: They're losing market share and they're losing market cap to Hyperliquid.
[SPEAKER_01]: Look at a lot of the old tokenization and RWA plays and different infrastructure plays.
[SPEAKER_01]: They're losing market cap to canton for the most part.
[SPEAKER_01]: And that's something I think everyone needs to understand is that guys, things change every crypto cycle, just because something was big last cycle doesn't mean it has to be big this cycle.
[SPEAKER_01]: Not every coin's going to hit new all-time highs.
[SPEAKER_01]: In fact, a lot of the times these new projects are the ones that go on the big runs.
[SPEAKER_01]: And then the next cycle could be something entirely different.
[SPEAKER_01]: So
[SPEAKER_01]: that's why we do this show in the first place is because we want you all to have access to this information and be privy to it because this stuff is changing.
[SPEAKER_01]: There's a lot that is going on and when it comes to new projects, like we love to be able to cover these things early and as they're going on.
[SPEAKER_01]: But I think Canton is one of the ones that people need to watch out for this cycle.
[SPEAKER_01]: Canton, hyper liquid, handful of other names.
[SPEAKER_01]: They seem to be where people are
[SPEAKER_01]: You know, pushing a lot of attention towards and they're backing it up with, like, actual, like, actual happenings.
[SPEAKER_00]: Great breakdown, Canton Network, and I love the teaser Brendan for the show that's coming out.
[SPEAKER_00]: It's a tune in there to go find the Easter egg there like that.
[SPEAKER_00]: Moving on, we got some drama.
[SPEAKER_00]: I mean, this is, this was knives out over the weekend here.
[SPEAKER_00]: World Liberty Five, which of course is the Trump family's crypto exchange.
[SPEAKER_00]: And Justin's son, longtime supporter,
[SPEAKER_00]: a big-time meme coin holder of Trump coin and doing a ton of holding of like the world libertify coin stable coin and there was a huge, I guess, there's kind of some accusations going on of what world libertify is doing.
[SPEAKER_00]: Do you know the specifics of this of why Justin Son is so mad and calling out world libertify?
[SPEAKER_01]: So I forget I looked into this.
[SPEAKER_01]: This has been going on for a little while.
[SPEAKER_01]: If I'm going to wing this here, but I believe the backstory is that Justin Sun was one of the initial early investors into world liberty financial.
[SPEAKER_01]: There was reports that he had been
[SPEAKER_01]: doing shady things that were against the project's best interest, that he was trying to manipulate price, selling off large amounts.
[SPEAKER_01]: He was basically just doing things that were not great for the project.
[SPEAKER_01]: And so the team said, hey, we see what you're doing.
[SPEAKER_01]: We don't approve of this.
[SPEAKER_01]: We're giving you the boot.
[SPEAKER_01]: And they basically are giving him the boot out and cutting ties with them.
[SPEAKER_01]: all like fake and that they just wanted to get a mal and that none of this stuff is true.
[SPEAKER_01]: Anyway, they were friends.
[SPEAKER_01]: They were, you know, partners and now their enemies.
[SPEAKER_01]: And Justin's claiming, you know, they're claiming that he hurt the project and that they were trying to undermine or that Justin's son and his people were trying to undermine them or hurt them or whatever.
[SPEAKER_01]: And he's claiming that it's just not the case and that they just wanted to kick him out and kick out his shares and
[SPEAKER_00]: Well, then they froze, they froze as tokens, right?
[SPEAKER_00]: Yeah.
[SPEAKER_00]: It was what I saw was like they said they, and there was no black list, and then they added a black list, and then froze as tokens.
[SPEAKER_00]: Yeah.
[SPEAKER_00]: So he feels, he feels betrayed.
[SPEAKER_00]: He's lost somewhere.
[SPEAKER_00]: They say between 11 to 70 million.
[SPEAKER_00]: So does that mean more than when he was frozen did other people start liquidating?
[SPEAKER_00]: Is that what kind of happened?
[SPEAKER_01]: Um, a little bit, it's, well, it's like reputational damage, but then it's also just like, if all the, I mean, imagine he put all this money in to get those tokens and now they're just being like, no, um, that's basically like the way that happened now.
[SPEAKER_01]: again, they're saying it's warranted, right?
[SPEAKER_01]: They're saying he's basically trying to undermine the project in the protocol.
[SPEAKER_01]: So he's like attacking the projects.
[SPEAKER_01]: The projects saying, hey, we're doing this in self-preservation.
[SPEAKER_01]: He's saying it's not warranted.
[SPEAKER_01]: They're saying it is warranted.
[SPEAKER_01]: now who knows right i i don't really know here um i will say just in sun does not have the best reputation um truth be told he just does not uh so it's hard right it's hard to see who you should believe here but i don't know i i mean we're gonna have to find out this has to basically
[SPEAKER_01]: because I don't really see it getting resolved any other way, but there's been constant feud and tension between these two.
[SPEAKER_01]: And...
[SPEAKER_00]: That's what they last tweeted.
[SPEAKER_00]: Does anyone still believe Justin's son?
[SPEAKER_00]: I think it's a C and court pal.
[SPEAKER_00]: That's the last tweet from a...
[SPEAKER_00]: I did see something, the timeline was eating this up.
[SPEAKER_00]: It was something like the Trump's change.
[SPEAKER_00]: They were all founders and boarded directors, all that stuff on the world, they're re-fi, and now they're just consultants or something.
[SPEAKER_00]: They changed their titles on the site.
[SPEAKER_00]: And now we're going to talk about Friday like the rumlings of it and then it blew up over the weekend.
[SPEAKER_00]: So
[SPEAKER_00]: kind of want to get some more information on it's all you see it feels like everybody's just kind of like pointing fingers right now yeah it's something to watch but I mentioned to the start of the show with midterms coming up it's kind of like we feel like the crypto community with this administration had a lot of support going in to the vote and then a lot of support at the beginning with doing some things and the AI cryptos are and David Sachs
[SPEAKER_00]: It feels like it's kind of, you know, there's been a lot of promises and, you know, whether you want to talk about price action or still waiting on the clarity act there hasn't been a lot of deliveries and so kind of going into the fall I think it's like kind of what I've been saying has been really interesting to see how this administration is going to interact with the crypto community going into the fall.
[SPEAKER_00]: Obviously, the clarity acts kind of the biggest thing on the table right now, but Trump wants to host another like meme point event and then stuff like this is bubbling up where, you know, we don't necessarily know where the chips are going to fall, but I don't think it's a really good look, you know, either way.
[SPEAKER_00]: So it's kind of interesting to follow that story line.
[SPEAKER_00]: I think is what I'm interested to go into the fall of.
[SPEAKER_00]: How's the crypto community going to be treated by the administration and stuff of that nature?
[SPEAKER_01]: Yeah, I think that's the big question, right?
[SPEAKER_01]: Is midterms are coming up.
[SPEAKER_01]: A lot of good progress has happened towards getting crypto into a better spot, right?
[SPEAKER_01]: They're not getting sued out, they was sued, they're not getting tracked down by Gary Gensler in the SEC.
[SPEAKER_01]: There has been the Genius Act.
[SPEAKER_01]: There's been a lot of positive stuff that's happened.
[SPEAKER_01]: Regardless of that,
[SPEAKER_01]: People are looking at prices and they're not happy.
[SPEAKER_01]: So regardless of how much adoption and regulation and positive stuff has happened from a fundamental standpoint, people are still looking at prices and say, hey, my wallet hurting, my account's hurting.
[SPEAKER_01]: And I think that that will put pressure on this.
[SPEAKER_01]: And people are gonna say, hey, you can say that you've done all this, but like the,
[SPEAKER_01]: The industry still is hurt in here and my total balance is going down since all this began and I think that's what it's going to come down to.
[SPEAKER_01]: So what does that mean?
[SPEAKER_01]: Well, I think for investors that means that there's probably pressure on the clarity act to get past because it seems like that's the big barrier that is holding back so much liquidity.
[SPEAKER_01]: And you've seen Scott percent come out and he's basically trying to put pressure on it.
[SPEAKER_01]: You have Coinbase and Brian Armstrong coming out trying to put pressure on you this.
[SPEAKER_01]: You have people from all, you know, traditional finance, the government, decentralized finance, everywhere.
[SPEAKER_01]: everyone's trying to put pressure on this and say, hey guys, enough enough we need to get this thing passed.
[SPEAKER_01]: I understand that other things have come up, right?
[SPEAKER_01]: I mean there's been war and and all these other things is a lot going on, but they're saying, hey, it's been a long time and this needs to get passed soon because cryptos hurting and people are really banking on this being
[SPEAKER_01]: a turnaround catalyst and showing that because I think number one, it is a turnaround catalyst in the sense that it enables a lot of new liquidity to come in to crypto, but number two, it shows that crypto is a priority again.
[SPEAKER_01]: I think that's what people are the most frustrated about is feeling like, hey,
[SPEAKER_01]: This doesn't even feel like crypto is a priority because this thing keeps getting pushed and pushed and pushed and then it's good and then it's bad and then the banks are favored and then crypto is favored and then we get these notices from like coin bases law team or whoever it was saying like hey this thing is going to be passed in 48 hours and then it doesn't happen and people like throw up their arms again in frustration.
[SPEAKER_01]: And I just think we're reaching the point where it's like, you know, regardless of whatever kind of antics are happening, people just want to see that crypto is in focus and that there's attention being paid to it.
[SPEAKER_01]: And I think the best way to show that, that it's, you know, back to being a priority is passing the Clarity Act because that has been the bottleneck.
[SPEAKER_00]: of a dad grade points and something that you know we've talked about and one to keep track of I think it's a great storyline heading into the summer and then obviously the fall one final topic here just kind of more of an alert uh there was a ledger scam apparently the fake ledger app got uh onto the Apple store and sadly somebody uh seems like an American musician named Garrett
[SPEAKER_00]: What looked like was the official app and it is seed phrase and then you know, got drained after that Trace stuff looks like Zack XBT's on the case But wondering yeah, how did that make through apples gatekeeping of like you know trying to pose as as ledger
[SPEAKER_00]: uh... no comment from apple but uh... obviously watch out for this and as always uh... stay uh... stay vigilant out there sad story but just you know something we want to bring up just as always a good reminders you know you got a double check and cross check all that stay vigilant chase yet that feels like it's got to come back to apple at some point
[SPEAKER_01]: Or, I mean, who knows, maybe they had since the app was published on the Apple App Store.
[SPEAKER_01]: Maybe they have the data of the people who created it or the location or they can point the authorities in the right direction.
[SPEAKER_01]: It does feel a little bit careless for something like that to get past a company, the size of Apple.
[SPEAKER_01]: I'd imagine that there's someone over within the company that's going to have a day of reckoning here today in this week of his higher up,
[SPEAKER_00]: Yeah.
[SPEAKER_00]: Especially pretending to be an actual company, like a fake Apple thing, but a fake app pretending to be a specific company.
[SPEAKER_00]: It feels like, yeah, feels like Apple owns some of the, uh, the blame here for sure.
[SPEAKER_00]: So stay care of out there and you final thoughts bread and before we wrap up.
[SPEAKER_01]: You know, no final thoughts.
[SPEAKER_01]: I'm just kind of looking over here at the markets and what's happening.
[SPEAKER_01]: Uh, guys, I just say buckle up.
[SPEAKER_01]: I mean, it looks like
[SPEAKER_01]: I'll go back to my original point.
[SPEAKER_01]: I think it is hard to not be long-term bullish on the crypto market here.
[SPEAKER_01]: Assuming that things continue to de-escalate, assuming that we see this de-escalation and things moving back to normal, and there's no like unforeseen events.
[SPEAKER_01]: but I think we are in a good spot.
[SPEAKER_01]: Doesn't mean we're not gonna have down days, doesn't mean we can't move down, but I think overall, so long as things continue to wind down and move in a positive direction, I see Crypto Benefitting here.
[SPEAKER_01]: You can see that it is itching.
[SPEAKER_01]: Itching absolutely wants to break out once they have these updates.
[SPEAKER_01]: On the days where there is positive catalysts, you see it's soaring to the upside,
[SPEAKER_01]: It feels as if the crypto market is coiled up and it's just begging for all of this to be over and return back to normal and I think crypto has plenty of room to the upside to play catch up because I think what we are now is we're out of place where we're past those 10 10 catalysts and these liquidation points we're not really seeing those anymore we're not seeing these big liquidation events and cell offs and I don't think we're feeling the events of the 10 10 liquidation event
[SPEAKER_01]: I don't think we're really being affected by that anymore.
[SPEAKER_01]: I think crypto right now is just coiled, probably going to see a short squeeze.
[SPEAKER_01]: And it's only a matter of time until the liquidation orders begin for those shorts.
[SPEAKER_01]: And once they begin, I think shorts can get really racked because there's way too many bears out there that have become
[SPEAKER_01]: just become too comfortable in shorting every single rip.
[SPEAKER_01]: And we've seen what happens when the longs get liquidated, but the other side of that is eventually, it's going to be the bear's turn in the seller's turns.
[SPEAKER_01]: And I think that day of reckoning could be good here.
[SPEAKER_01]: So buckle your seat belts.
[SPEAKER_01]: I think it's going to be choppy and volatile, but overall, again, the long-term picture, I really do like what I'm seeing so far.
[SPEAKER_01]: And I know I've been buying some down in here.
[SPEAKER_01]: Anyone in the 60s and low 70s has been an area where I'm, again, pretty comfortable for the long-term.
[SPEAKER_00]: Totally great gotten some long-term exposure to myself, you know, over the last couple months.
[SPEAKER_00]: But I thank you for joining us, Brendan.
[SPEAKER_00]: Thank you to everybody in the live again if you could just give it a thumbs up before you head out.
[SPEAKER_00]: It really helps us in the bottom right.
[SPEAKER_00]: Hit subscribe if you're new and then if you want more of Brendan in that live trading, check the link below for some act that's to his micro full run.
[SPEAKER_00]: You get the live trading course twice a week and you can interact with him, ask questions and all that stuff.
[SPEAKER_00]: We'll be back with some more episodes this week.
[SPEAKER_00]: We got the Slon interview coming out.
[SPEAKER_00]: We'll try to get another rundown in on the back end of the week.
[SPEAKER_00]: We really thank everybody for joining.
[SPEAKER_00]: And hope you have a great Monday and a killer week.
[SPEAKER_00]: We'll talk to you later.
[SPEAKER_00]: Bye-bye.