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CRYPTO 101
Crypto Rundown: Bitcoin Squeeze Incoming?! The Technical Analysis and News You Need to Know
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- [00:00]
A
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- [03:25]
B
Yeah, Excited to do this. Welcome back everyone. Good to have all of you here. Bitcoin having a pretty nice move back to the upside. So on the day here we see bitcoin up almost 3%. We see Ethereum up about 5 and a half, Salana up 4 XRP up about 3 and a half. Then altcoins here wilding across.
- [03:44]
A
Pull, pull up the charts. I don't know if you.
- [03:46]
B
Yeah, yeah, yeah. We'll get into them for sure, but oh no, totally fine, man. So much going on. Thievo excited to be able to be back with all of you. So I'll go ahead and throw those on the screen right here. Let me just make sure that this is working properly for us and then we are going to be good to go. So, yeah, I mean this is what we're seeing and again, apologies for any of the background noise if it's there, but Bitcoin here having this beautiful move back to the upside, right? We kind of hit new cycle lows on Tuesday night or excuse me, on Wednesday night. And that's what we saw over in here. And so if we Zoom us in to a shorter time frame. You can see what this looked like. Bitcoin taking that kind of very quick dive downwards, getting bought up aggressively off this new cycle low of around 57,700 bucks and then getting that V shaped recovery back to the upside here. So overall, pretty solid recovery. Even though we kind of swept in the new lows, Bitcoin getting bought up pretty aggressively from those areas, which is what we like to see. So yesterday obviously the big buys were coming in, we saw it kind of happen. Yesterday we bounced off this low about 4% to the upside. And then today we're up another two and a half to 3% as Bitcoin's recovered from around 57,700 back up to around 61,000, almost 700. So about $4,000 in buying pressure coming in here on bitcoin. And what we see as the result of that is the whole crypto space is really, really rallying alongside this Ethereum similar spot. Not quite cycle lows, but came down to that point and bounced very heavily off that. So ethereum bouncing from 1500 flat up to around $1700, which is where it's at right now. And then Solana over here as well, you know, going back up to 80 bucks. So you have, you know, XRP and aerodrome up seven and a half and pump here, TiVo as we look back at pump, 11 and a half percent, hyper liquid, 5% to the upside, making a big old push. And so I like what I'm seeing here. I really, really am. And if we go and we look at the rest of the crypto market, there's kind of big winners left and right. You know, aerodrome up 7 and a half percent, radium up 7 and a half percent, pendle up 6%, pump up over 11%, sky up 8% here, and the list goes on. So across the board, crypto market really, really green. I think the key thing that I'm watching for here and the big thing that I'm going to be looking at moving forward is number one, we broke out of this really tight range that we were in. We saw bitcoin just chopping around for about a week straight. Now what we're seeing is that it is breaking out of this a little bit. We're going back to the 20 day moving average which we have struggled to break above. But you are getting a break out of this little consolidation. And we can see this even more clearly on a four hour time frame. But really just back and forth. Choppy price action here, TiVo, but we're breaking this to the upside after a failed break lower. So that was the one thing I was worried about, is that obviously pressure was coming down here, lots of downside pressure, but you see it getting bought up again and again and again. And even with this failure to go lower, that's a decent look, right? We, we tried and at the time I was actually watching this, both Hunter and I were looking at this as it was happening in real time. It was a pretty gnarly, very quick flash crash. But then the aggressive kind of, excuse me, the aggression came back in from the buyers. So I like this failed break to the downside. Bitcoin reversing back up here. Does it mean that there is an overall market reversal in effect now that we failed to go lower? Not quite yet. I think it's too early to call that. What we're basically seeing here is that it's, it's a good first step in the right direction, but I think it's still too small of a move to really say, oh my gosh, that was it, that was the market bottom. So you still have to be, I think, a little bit hesitant in here. Again, I'm liking it. The bulls feel like they're coming back here. And keep in mind, Bitcoin's up 3%. And if you go and you look at the TradFi sector, Nasdaq's down 2%. So down 2% for Nasdaq in the TradFi sector, up 3% for Bitcoin. That's not something that we've seen a lot of in recent weeks either, where you have seen them become a little bit more, you know, uncorrelated. However, typically when you see a big flush out in the traditional financial markets, you also get some follow through on Bitcoin because risk, all, excuse me, risk off assets are kind of moving collectively together. That's not what you're seeing here. If anything, you're actually seeing a transfer from what was those high risk plays in the traditional financial market over the last two days. You know, specifically with like AI infrastructure and anything AI related or memory or chip related, like those look like they're selling off and risk is moving from those into crypto, at least over the last two days. So I think if you are a crypto fan here, that's a really positive development and I think it's one that we're going to have to keep, keep track of moving forward. But yeah, really solid day here for, for crypto tivo. The last thing I would say is
- [09:25]
A
just, yeah, no, go ahead, please. Last thing.
- [09:28]
B
Yeah, yeah, I was gonna say last thing is just keep an eye as Bitcoin's moving back up to the mid 60 thousands ish. That is where you have to watch out for a lower high. So we have maybe, you know, if we can break the 20, that's resistance one move up maybe to the mid-60s. I think you're going to have some resistance there. But I'd still keep an eye on this downtrend because, you know, two green days is not enough for us to say that there's a market reversal, especially not bouncing off of fresh lows. So tempered expectations. But overall I like the vibe.
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A
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C
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- [12:46]
A
up for a second. Is there a way you could pull up the Mag seven for me, Brendan? I don't know if you have that as a, as an ability look. Look for that real quick. And I want to give a shout out to the chat while he does that.
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B
Man.
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A
We have 70 plus. Feels good. I know the market's been a little up or down, up and down, but mostly down lately. So I love seeing the, the chat get a little active. Where's everybody coming from? We've got 70 friends and family members out there. Do us a favor, give this video a like it really helps us grow the show. Make sure you're subscribed, subscribe if you're not and let us know in the comments where you're watching in from. A lot of people in the chat today. Holy whales up in Canada International show as we know. We've got Anton from New York. Excellent girl has it all. Says we go up before we go down. That's Jessica. Hi Jessica. And just so Bren, you have the mag 7 up for me or you couldn't find that this is it. So this is. You can kind of see that choppiness. What time frame are we doing here? That's basically from the year, you know, down, up, down. You can kind of see that reversion. So what I thought was interesting was you're showing kind of the NASDAQ being a little bit of a cool off but that Mag 7 shooting up just a little bit. And I thought that was a huge kind of part of that rotation of capital because for the broader markets, as you know, I like to kind of get a look and I'm the vibe guy is I'm looking at the broader markets and saying okay, well when the chips trade and the AI trade cools off a little bit, is the money going to run out of the market or is it going to rotate? And I think we're seeing a really, really healthy rotation here with you know, being 2% off of all time highs around the S and P and the NASDAQ and and these mag sevens which are the hyperscalers which again are spending all this money into the capex, into the chips, into the AI. You know, they could kind of get a slap on the wrist and say hey, you're spending all this money and you have, you know, nothing to show for it. And that's not happening yet. So I think it's a super healthy rotation which again in these trying times for bitcoin in my opinion, I'd love to hear if you agree is important for bitcoin to, to see the overall market health and not have just the shoe drop.
- [14:41]
B
No, I completely agree with you there man. Not a ton more to add but I would just say yeah, no, I think it is important to keep an eye on that and I like seeing that there's a bit of divergence here happening with bitcoin.
- [14:54]
A
Awesome. Yeah. So I'll kind of take it from here again. Brennan's got the background so I'm gonna chime him in definitely from time to time. Want to give. We're going to transition into the fear and greed index and I want to give one more shout out to the chat. We've got Atlanta, we've got Vancouver, Canada. Juan, we've got Tim from Indiana. What a Friday we have. We really appre. Appreciate everybody tuning in. If that type of technical analysis is something that you're interested again, please give this video a like subscribe. Check out the link below. Brendan has his trading cohort open next week. We put the link there for you guys if you're interested in getting more one on one time with Brendan with Hunter, you know, an hour, two hours a week live trading with them plus their course to learn all the ins and outs of kind of what they are experts at. Check out that link below as we move over to the fear and greed. We haven't done this in a while. I thought it was time to pull it up here. We'll, we'll reject the additional cookies. I've had enough cookies recently. But we see extreme fear. So last week 16, last month 25 was still in fear. We've been bouncing around again. We haven't gone as low as we went back in February, but Again, bouncing around extreme fear. We have not seen any type of just neutral even for a while now. Which, you know, again, a lot of people like to say this is the accumulation phase. So kind of keeping tabs on fear greed. Brendan, if you want to jump in, if it's quiet, give me a thumbs up, jump in, say something. If not, we can move on.
- [16:19]
B
Yeah, I mean, this is an important zone because the fear and greed, when you, when you see this thing go into the extreme fear territory, I think that's where the opportunity has historically lied. The other thing is that when the fear and greed index gets under a 10, which we've already seen this cycle, again, that's when you really want to start paying attention. We're coming out of extreme fear, back into just normal fear. But again, you know, where. Do you want to be a buyer? Do you want to be a buyer when everything's in extreme greed? No, typically you want to be buying lower and, and you want to be buying when everyone else is trying to sell and freak out and worry about everything wrong that could happen. So if you scroll down just a little bit on this chart, you can kind of see where we're at based on historical lows and how this correlates to price action. And again, it's not saying it's perfect, but if you are looking at this from like a longer term value area, there are versions of this where you can see like way, way, way farther back. And again, you know, when you get into extreme fear, whether it's a local low or a swing low, you do tend to find some, some sort of opportunity on these levels.
- [17:27]
A
Yeah, I think. Let's see, does this bring it back? This is the one that I think you like if I share this one, right? This is a little bit further back in time.
- [17:36]
B
Yeah, exactly. I mean you look at this chart and you can say, okay, well where were some of these dips? Well, it shows you the tariff crash, the geopolitical crash, it shows you the 2022 lows, the 2020 Covid lows, the 2018 bear market lows, the 2019 lows, like all these times where you get to that fear and greed index. And again, the sweet spot has typically been around a 10. That's where you see a lot of those bottoms kind of coming in. And it looks as if we're printing higher lows from that kind of initial point that we, that we had formed. So we'll see. Right, can we go back lower? We can, but listen, I'm a long term buyer down here. I think there's long term opportunity for long term buyers around this area.
- [18:20]
A
Yeah, we've talked about that over the last couple rundowns is I have my automatic buys on again, just sprinkles on the Sunday. Again, we're not personal financial advisors. Nothing we say is personal financial advice, but just, you know, friends talking crypto, friends talking their own personal strategies is, you know, this is the areas where I, I turn it on. I don't think about it and you know, I have a risk management plan because they're not huge buys, but it's just, it's just happening. We're down here and, and I'm not thinking about it. So it'll be interesting to see how those buys do again three, six months a year from now. Again, I've seen this all over the timeline. Brendan, have you seen this where it's starting to. People are starting to say there's the largest spike ever in whales holding bitcoin. They're gobbling it up down here, which again, we kind of covered the opposite months ago. Again, these are all just kind of individual things that you probably want to put into your, your theories of how you invest or how you trade. But this is definitely one of those things where it was like, ah, the whales were selling around 100, 110. It was interesting. And then now they're buying. The whales are buying down here at record numbers is the stats that I'm seeing.
- [19:28]
B
Yeah, I did go through this a little bit. I wanted to see some want to put them on the spot, but I wanted to see a little bit of better data to kind of back this. I know cryptoquant posts this or this is from crypto quant. Excuse me. Which is pretty reliable and so is Scott. You know, we love. Scott would be curious like who these wallets are, which is something I was trying to do some digging on, but I didn't have a ton of luck. But it makes sense. I think that largely I would agree with this and I would hope that that was the case. Again, if something is dipping down into that 50, 60% retracement territory, that's where you typically get the value. What we would want to see down here is a large spike of whales holding bitcoin and being interested in bitcoin. So I think it makes sense. Right.
- [20:24]
A
I like your. I'm not gonna, I'm cutting you off for a reason. So I agree with what you're saying is like we post up these tweets, we try to do our research. If you're not going to say that you can verify this with our own research. Let's not speak it out of our own mouths. I found a clip of Scott explaining this. So let's pull this up. It's only 40 seconds long and we'll see because he's referencing, you know, who's buying and whatnot. So let's take a look.
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D
While retail and people who bought ETFs
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A
are panicking and puking their coins, I
- [20:52]
D
just want to show you the data of something I keep mentioning, which is this right here. 270,000 Bitcoin accumulated by whales at 59,000 largest single accumulation spike ever recorded on
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A
chain bigger than the COVID bottom, bigger
- [21:07]
D
than the FTX bottom. Right. So ETF outflows hit 4.5 billion in June. But the smart money, the whales who sold above 120, the huge wallets are now buying back in the largest size ever. Which is something that we tend to see at the bottom of markets and not at the top. What? But while retail.
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A
There we go, right out of the horse's mouth there.
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B
And I think he's spot on about that too. I think he's spot on with the, with the key takeaway there. That's what you would expect to see. That's what you historically see. And again, the only reason why I say if this is true is just because we haven't independently verified it. We love Scott, but just because we haven't gone and done our own independent research on it, if this is true, it's a really good sign. And that's why when I look where we're at right here and I say, hey, do we have the potential? More downside? Yes. But I want to be a long term buyer here. So what that means is have I deployed all of my cash, all of my capital, I'm leveraged up here, Mass exposure. The answer there is no, not quite yet. But do I want to be buying here and am I buying here? Yes. I went and I did. I did that yesterday. I went and I picked up some bitcoin, I picked up some eth, I picked up some Solana, I went and I am a buyer down here. I even have leaps on the, on the table. TiVo, we talked about this options place where I am levered up, but I'm looking a year, two years out. So I'm not saying, hey, the bottom's in. We're going to go straight up from here for the next day, the next week, the next month. That's not what I'm saying. I'm saying, hey, a year, two years plus from now, do I think we have the potential to be a lot higher? I would say yes. And it looks as if the whales are saying the same thing and that's why they're behaving like this. So it's a good sign. I mean, people always want to beat crypto down when it's, when it's, you know, in the gutter. They always want to say it's dead. They want to try to take it out with the trash. This happens every single bear cycle. Like it's nothing new to us. If you've been around for a while. I just become accustomed to it. But the true value tends to come in the dips. And it always happens when everyone thinks it's going to zero.
- [23:20]
A
Right. And to build on that point, just moving down the sheet is people continue to build again. I think we'll get to one of our guests that we talked about later. But it's the, the word, the buzzword crypto is becoming much more acceptable just in standard finance now. And Robinhood just continues to build. I know this is stuff that you're super excited about. They're launching their mainnet. They're launching another Earn, an Earn product with a Yield Robinhood earn. So let me, let me pass it to you because I know you were super excited about some of this stuff.
- [23:53]
B
Yeah, yeah. This was something I caught. I didn't get to catch the entire presentation that they had, but I was able to catch some of it. This has been a big deal. Right? They've been working on this for a long time. I think it makes sense with them. They're what, a hundred billion dollar company? I think it makes sense that if they're going to build out all this tokenization, that they would have their own chain that's optimized to do exactly that. And they partnered with Arbitrum to do this. So that's essentially what they're doing here, is they're going to say, hey, if you want to trade 24, 7, if you want to trade tokenized stocks, if you want to trade tokenized this or that or anything, or even just earn yield, that is what we are going to enable you to do. And it's a big deal. Imagine if you can trade anything, anytime, anywhere. It's a really big deal. I would say it matters to us here in the States, but it's a really big deal. If you're outside the United States, you can't get exposure to the Mag 7 like most people would or I'm sorry, you can, but it's not easy, right? For us, we open up our Robinhood and we click buy and it's just that simple. For other people, it's not that easy when you're in different parts of the world. So what this will do is it should increase liquidity, it should also increase exposure, but allow more money to be transacted in these things. And I think that's what everyone wants. It's kind of a win win. They're the ones serving the product and they're going to be getting the attention so they win. And then I think us as users, we have more freedom, more variety and hopefully enhanced liquidity from this. And so I'm a big fan of what's going on here. The one thing that we did maybe talk about internally is are they going to be able to stay at a 7% yield on their stable coin USDG? I don't think so. Over time, I hope so. Right. I said, hey, I fully plan on taking advantage of this. Do I think that they're going to be able to hold 7% for forever? No, probably. Some of that's coming out of the marketing budget. They're probably only going to be able to hold it for so long. Will it go down maybe to 4% or 5%? I would think so. That's kind of like what we saw with Robinhood's original yield that they'll give you on cash. Right. I think it used to be higher, around like 4% or something. And it's come down a little bit over the years, but. And then there's offers that you can get to kind of increase your yield, but that's what I'm thinking here. TiVo.
- [26:10]
A
Yeah, it's, it's again, they're just rolling out. I know Bryce was talking about, he was fooling around with the agentic trading options that they have and it's just good to see. We've had Johan Krat on the show. Obviously we want to keep the relationship with them when they, you know, look to get them back in the second half of the year as they continue to work within crypto and AI and just be, you know, a future, the future of finances, as they like to say. And it's, it's awesome. It's cool to see that they continue to partner with crypto companies and build on crypto. And I think it's important to say all of this is built on top of Ethereum, which I think is an interesting point because there's some more news out of Ethereum. This is something we've been slowly kind of covering and coming to the realization of like hey, the Ethereum foundation is. I don't know if checking out is the right word. It's just the next evolution of Ethereum or the Ethereum foundation is having less of a finger on the pulse of the day to day operations of it. And it seems like a new kind of stakeholder has emerged. With a thumbs up from Tom Lee here via this tweet, it's the Ethereum Institutional announcing. Ethereum institutional and independent non profit dedicated to accelerating the institutional adoption of Ethereum. Its L2s like Arbitrum and applications and overall ecosystem. So it's just again, I, I thought this is something, it'll be interesting to follow how this, you know, evolves the stake, the stakeholder evolves and grows. But again, kind of this new era of ETH continues to build as again, price action has been sad. But I thought this was good to cover.
- [27:45]
B
Yeah, spot on, man. Sorry it's getting a little loud over here. I'll hand it back to you.
- [27:50]
A
All good, all good. Well, so everything was built on ETH and then to kind of COVID Hey, there's more ETH news. Sharplink is buying. So Sharplink bought 60 million worth of ETH. They also bought some of their shares so they had an eight month pause. So you can't really, you know, you got to give at least the, the people over there a thumbs up, say hey, you didn't buy anything on the way down, but you're buying a nice little chunk at the bottom here. I believe they also bought back some shares and we know this because we had the Sharp link CIO on the podcast this week. Brendan and Bryce did a fantastic interview that's going to be coming out next week. So again with all this Ethereum news going, it's cool to talk to one of these DATs. And Matt Sheffield, CIO of, of Sharplink joined us this week. So I thought that was a good teaser of. Hey, tune in next week. We're going to have some really, really great guests. Another person that we had on from Coinbase, his name is John d'. Agostino. I want to make sure I say that right. JOHN D'. Agostino. I'm going to start this clip here from 30 seconds. This is basically a sample of what we talked about. John, new friend of the show, first time on the podcast the Voice of Coinbase. He kind of said as Brian Armstrong saw him speak at a conference and that has, has elevated him to be the the voice of Coinbase. You're gonna see a lot of media hits from him. Here he is on CNBC the morning before we recorded with him. So let's hear what he has to say. Can kind of give a little sample of the full length long form podcast with John and Coinbase.
- [29:17]
D
Stuff that doesn't really make the front page of the news. But the other day we just did the first stablecoin based payment for independent journalists to condense the time they take to receive money from their advertisements. From 90 days to one day, we've seen things like Scott Sornetta, who was on your show, using blockchain and cryptocurrency to solve the problem of deep fakes via artificial intelligence. We've seen over 40 countries commit to buying bitcoin in some fashion for their national balance sheets or other. So I'm seeing every day a deluge of new institutional investors that are interested in the asset class. So I appreciate for folks who don't have that perspective, they're looking for some grand gesture or grand event. But for those of us who have the luxury of being on the inside, all we're seeing is steady growth, even if the headlines don't match that.
- [30:11]
C
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- [30:41]
A
I love that the benefits of being inside Coinbase, you know, again, when the negativity is so loud, it goes both ways. On the upside, when things are super bullish and there's FOMO everywhere, you know, Coinbase can't say a bad thing now when everything's down and bad, you know, you don't hear any good news. So John kind of peeling back the walls for us and just really, dude, that day of podcasting we did the other day with two, we did those interviews back to back and I it was so cool having coffee, watching John on CNBC and then having him on the pod. You know, that's what we do here. So again, the rundowns are awesome. We appreciate everybody listening to those and we love our interviews. And again, you know, we try to get the best of the best. And I really think next week is one of those. Halfway through the year, prices are down. But this is where you need to do the research. So subscribe, hit the like. You're not going to want to miss those two coming out next week. Brendan, how's the noise over there? Anything you want to add?
- [31:34]
B
No, it's a little better. Sorry. It was unfortunate timing when you tried to loot me in, but no, I think it's great. You're right. What a killer week of podcast. Shout out super producer TiVo for that one, man. If you guys do not listen to the podcast normally, you got to tune in here over the next week or two. We have some really good ones coming out, but no, not. Not a ton to add there.
- [31:57]
A
Awesome. We'll wrap up. I have one more quick hitter. The chat was super active today. It is July 4th weekend. We'll end with some questions. So if anybody has any questions they want to throw in the chat, please do so. You guys have stuck around for the entire show. We really enjoy it. I've got one more thing we can talk about and then if there's any questions, please throw them in the chat right now. Because I will look in the chat in about two minutes after we discuss this last point. And we will have some fun in the chat before we break for a super fun fourth of July weekend. My final point, obviously, friend of the show, Jamie Crypto Diamond. I kind of hinted at it at the beginning, and I think John said this when we interviewed him, is like, hey, crypto as a buzzword, it's just kind of like it's not as buzz buzzworthy anymore. It's just getting folded into traditional finance. It truly is a part of it. And you continue to see these things. Like J.P. morgan says digital assets are moving into the core of the US Financial system. You know, obviously people prefer probably saying at these levels, digital assets over crypto, but even crypto gets used to from time to time. And then you're just still seeing some of these, you know, bigger companies that want to implement this stuff. And I thought this one was interesting for. For Amex, a vice president of stablecoin and blockchain partnerships and strategy. So it's just, it's one of those things. These projects have a lot of value, I think. And Brendan, I'd love your thought if you could think of a company that's utilizing this publicly. I mean, I'm sure there's plenty of people building underneath the surface. I think it's Robinhood and we Just covered in the show is like Robinhood is using this technology to try things, to test things. Now is the Robinhood mainnet going to be around forever? Who knows? Is robinhood yield at 7% going to be available forever? Probably not. I'm sure the 7% offer is more of a marketing introductory offer to try to get people in. But you know these, these, these companies, these more Old guards, amex, Old Guard, JP Morgan, Old Guard, they're using this verbiage. They're hiring people. They're not hiring somebody at 175 to 282 salary to, to build something that they think is not going to be here in six months, in a year.
- [34:05]
B
No, you're right, they're not. They're not going to hire a position that pays 200 to $300,000 for something that they think is going to be gone here in a year. And you're seeing this expand. There have been a growing number of, of like high ranking crypto hiring positions from the traditional financial world for a while now. It continues to increase. They are doubling down and it's something that I think we're just going to see more of. I mean stablecoins have been expanding at a rapid rate. TiVo and they're continuing to. I know that there was a big announcement yesterday, I guess we forgot to put it in the sheet today but it was about. Oh, what was it? I think it was USD 0 or something like that. And like Coinbase was blocking that, backing them. BlackRock was backing them and some other big groups were backing them. It's a pretty big deal. So keep an eye out on, on all of this. Again, I don't think it's going anywhere. Bear markets happen.
- [35:05]
A
Is it, is that anything to do with Circle? That news? I'm trying to find it. Real.
- [35:08]
B
Well, it caused Circle to tank. So you had the stable cryptocurrency for tether tank and then you had open USD. That was it. Thank you. Not USD zero. It was open USD yes. And it was backed by a bunch of really big players. And because of that, you know you saw competitors just in freefall yesterday. I think circle fell like 17, 18% or something. But this is going to be a big deal. So again what's happening here? Are people building? Are they doubling down? Absolutely. Yeah. Look at this. Stripe, Visa, Mastercard, Coinbase, BlackRock. Like BNY standard. Like the behemoths. The behemoth.
- [35:51]
A
Wow. Yeah. IBM, Google, shout out to me finding my way to this. This is pretty good live produce.
- [35:58]
B
Yeah.
- [36:00]
A
Wow, look at that, yeah, that's a lot. That's a lot of names. That's a lot of names around the world. The Commonwealth bank of Australia, Intercontinent, Intercontinental National Australia Bank. See, Citizens Bank, Aptos, Polygon. Stellar. Interesting. I'll have to do some. We can do some read up on this and maybe do a little bit more of a deep dive on it next week. Yeah, fantastic. Well, any. The only, the only question. Buckle up. The only question I see in a chat, which is a good one from Holy whale, is clarity act on July 4th. Probably not. Probably being that that's what, two days away? So probably not. The at. The odds are slipping. So one month, it's down 15%. We are at 40% right now, which again, all time is kind of the lowest it's been. 42 was 1. Yeah, it looks like 39. At one point back January 22nd, I think we were live on air that day. Remember that? And we were, me and you. And I was like, I'd buy that right there and then. You could have sold it at 82. So back down to 40. Obviously your time frame's a lot different. That was. You had a full year. Now you have half a year for, you know, Clarity act signed into law for this specific bet. I don't know, I. It feels, here's my only thought. We have no insight into what's going on behind closed doors in dc. My only thought is I just see, you know, Robin Hood coming out with this, you know, 7% yield mechanism. Like, what are they, what are they debating? Like, we're debating stablecoin yield. But then is. Is there. I guess what I'm trying to say, is there ways around this? Like, is there already right ways around this? Because putting out a product like that, to me, and maybe I'm wrong, but to me feels like it would have to. You're waiting for the Clarity act rules of the road before you kind of do what Robinhood's doing. But as an innovator, maybe you're like, hey, we're shooting and asking questions later.
- [37:52]
B
Yeah, you know? Yeah, I'm not sure. I'm not sure. But I hope it does get passed. Right. People are kind of saying, hey, there's a bit of a deadline, like this thing needs to happen in July. The odds continue to fall because the closer we get, the more it doesn't happen. But we'll see, you know, does the crypto industry need the Clarity act now? But it sure would be good for long term structure and growth.
- [38:18]
A
Yeah, totally. I'm sorry. I'm just trying to. I read this question from Andy. I don't know if I understand it. He says, I have a meta question but it's a bit random. In your mind ID you see blockchain as vertical or horizontal? Just my random thing. I don't think I understand what that means. My I'm going to say blockchain is practice is just a quick, quick Gemini. But blockchain is primarily a horizontal technology, much like the Internet or a database. Rather than solving just one specific problem, it provides fundamental architecture that can be applied across virtually any vertical from finance and supply chain to healthcare, real estate. I find it funny that it's a horizontal technology, but you can apply it to any vertical. So there you go. Said both. Fun little play on words there. We got Bandit. Shout out to Bandit. He's always in the chat. Awesome man. I really appreciate you, Brendan for doing this fourth of July. We wanted to get an episode out for you guys to listen to before the weekend. During the weekend, or if you want to throw us on the barbecue and entertain and educate your friends about the future of finance, this is the place to do it. Thank you guys so much for an awesome live. One last call. Please give this video a thumbs up. We've missed awesome lives like you guys. We appreciate everybody being here. If you're new bottom right, hit subscribe and check below for the links. We've got Brendan's trading course. If you want more of Brendan twice a week, live for an hour each time, check it out. You can also learn his six week Micro Bull Run course and then if not, check it out. We got a couple dollar trials there as well if you want to get more involved into the community. Thank you guys so much Brendan, really appreciate you battling through with some of the noises. It really wasn't that bad and we will talk to everybody next week. Happy 4th of July. Have fun, be safe and we'll talk to everybody next week. Bye bye everybody.
- [40:15]
C
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- [41:16]
A
Queen Carvania stood haloed by the morning sun. An army hung on her every word.
- [41:23]
B
My champions, I have sold my chariot on Carvana.
- [41:28]
A
Twas a lovely suv, an inexplicably queenly offer.
- [41:32]
B
They're even coming to the castle to collect it. Tonight we feast. An offer you can feast on.
- [41:41]
C
Sell your car today on Carvana. Pick up. Fees may apply.