← CRYPTO 101
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- [00:00]
Bryce
Foreign.
- [00:09]
Brendan
Everybody, welcome back to a special edition of the Crypto Rundown. A little different today because our schedules are extremely busy this week. Both Bryce and Brendan are just too busy to make it to the podcast. But that doesn't mean we were going to leave you hanging. We couldn't, Brendan and I couldn't get together to give you the normal rundown, but fear not, he put together his own quick, about 10 minute market update of some hot hitters the other day to kind of keep you filled in on what he's seeing around price action. There's going to be some technical analysis for you there and just some stuff that was in the news that piqued his eye that we normally again would cover together for a full episode. But we just didn't have the time this week. So I still wanted to put something together for you guys. So the first part is going to be me kind of adding in some stuff that Brendan didn't talk about. That'll just be a quick segment and then we'll transition into Brendan's stuff and kind of give you a impromptu crypto rundown so we don't miss out this week. So let's, let's dive right into it. I basically have a couple quick hitters here. Stuff that's pretty timely that's happened I've seen in the last, last, you know, today basically 24 hours. The first one is the DOJ. So the US Labor Department withdrew the 2022 warning against crypto and 401ks. So basically this is going to start paving the way for bitcoin and even possibly crypto to be greenlit, to be inside of people's retirement plans. And again, you know, most, if not all, you know, retirement plans and 401ks, they do have that fiduciary duty for investors. So I think there's probably going to be a couple more hurdles. But the biggest one being the legal part of it is, is seemingly out of the way as of today. So that, that's, that's huge. The second big thing that I saw today is that GameStop, everybody's favorite meme, coin stock, the ticker is GME Buys Bitcoin. We've, we've heard about it, we've seen, you know, tweets about it. Even they said they were going to do it and they finally have. So it was a, it was about 500 million, so half a billion to get into their bitcoin treasury. Again, this is, I guess a toe in the water obviously compared to Microstrategy. That's sitting at about 60, 62 billion. And I believe 21 Jack Mers did about 3 billion. And I know DD DJT, the Donald Trump stock on, on the stock Exchange has about 2 billion. So, you know, definitely on the smaller side for the big players, but maybe it's something to watch, something to continue. Definitely fun news to see. You know, the old Meme coin stock GameStop starting to buy bitcoin. And the, the final thing today that I saw that I thought is important to bring you guys, and it's something that we're actually going to, we're going to listen to because I think it's important. So this is J.D. vance. So J.D. vance is the current sitting vice president and he spoke at the bitcoin conference today. So the bitcoin conference is out in Las Vegas and he was one of the keynotes today, given a speech. And obviously you remember last year was Bitcoin Nashville, and in the summertime Donald Trump went to go speak. And obviously at that time he was just a presidential candidate, but obviously it was the first time a presidential candidate went to a bitcoin conference. And now we have the first time that a sitting US President came in to a bitcoin conference and gave a speech. And I just think it's important to listen to what he had to say. Say and, and again, for the space. What a tremendous accomplishment to, to see again a sitting US Vice president is at the bitcoin conference. Excuse me. Giving words of encouragement for the space. So let's take a listen to J.D. vance here. It's about 90 seconds. We'll break it down and then we're going to transition right into Brendan, eliminating.
- [04:16]
J.D. Vance
The rules, the red tape and the lawfare that we saw aimed at crypto by our predecessors. We're ending the weaponization of federal regulations against this community. To put it simply, operation choke point 2.0 is dead and it's not coming back under the Trump administration. And by the way, it's crazy that was ever even controversial. The idea of using the regulatory power of the government to crush an industry and, and to crush people who espoused a view that you didn't like. It's crazy. But let my words today serve as Operation Choke Point. Let me serve as its obituary. Now this, now this is my vow to every single person here. You will never see this administration trying to handicap your community or diminish the impact it's had on the economy. Instead, we reject the Biden administration's legacy of death by a thousand enforcement actions. We reject regulators, maybe the most important thing that we did for this community, we reject regulators and we fired Gary Gensler and we're going to fire everybody like him.
- [05:42]
Brendan
God, the crowd always likes when you give a reference to firing Gary Gensler. Strong words from the vice President who again is representing the White House, representing the strongest branch of government seemingly in the world and might be too soon to say, I'll be the first one to admit that might be too soon to say this, but is a contender to be a presidential candidate in the next election. So obviously, again, way too early for that type of speculation, but he will be, he will be definitely in the mix for sure. And so it's good to see him there. Some strong words. Obviously Gary Gensler probably didn't enjoy that. Another person that comes to mind, probably Liz Warren again. Liz Warren, friend of the program, did not, did not like that because the obituary of Operation Choke Point I think is strong words. So the, the deregulation is here, the, the government, the executive branch. And from what we see with like the stablecoin bill, bipartisanship across the aisle, moving this industry forward is something to be super excited about as, as I'm taping this. Bitcoin's about 107, so right in that range. And I think it's okay that Brendan and I aren't doing the full breakdown for you guys this week because we're still in that range that we said. Right. Brendan was saying like that 102, 103 to 111 for all time highs is going to be a range that we're probably going to trade in for a little bit. And then again we're, we're hoping and still looking, not financial advice for anybody personally, but looking and still hoping that we think the, you know, the breakout could be to the upside. But we're in that range for now and Brendan's going to cover that and some other news for you guys. So that was about seven minutes of me. I appreciate you all listening. Now we're gonna get 10 minutes of Brendan and we'll be back next week with a normal full crypto rundown. But enjoy what Brendan has cooked up for you guys and we'll talk to you soon.
- [07:38]
Bryce
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- [08:03]
Brendan
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- [08:05]
Bryce
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- [08:32]
Sam
So.
- [08:32]
Bryce
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- [08:50]
Sam
Hey there everyone and welcome back to your weekly crypto market update. My name is Brendan from the Crypto101 team and we hope everyone had an amazing extended weekend.
- [08:59]
Bryce
But.
- [08:59]
Sam
But it is time to buckle your seatbelts and get ready because there is a lot going on here in the crypto markets that you need to be made aware of. We're talking about positive fundamental developments, positive technical developments. We are seeing adoption go through at levels that I don't think we have ever seen before. And of course the supply is shrinking as the demand is increasing and there's a whole lot of different things that we have to cover. So if there's any episode that you're going to tune into, I think that this is going to be one of the more important ones to paint the overall picture that I think that not only bitcoin is heading, but the entire crypto and blockchain related space is heading maybe over the next couple of years. So if that interests you, make sure you hit the like and subscribe button. We are putting these out every single week. And of course, if you want more content, you can always go over to our Crypto 101 podcast YouTube channel where we have all sorts of tutorials, podcast interviews, updates, you name it. We got a lot going on over there as well. So what in the world here is happening with bitcoin? Well, I think the easiest way to answer this is by starting on the charts, right? This is where most people, this is what they care about, right? You know, are they making money, are they losing Money. And we can see that the crypto market across the board here is green on the day. Now there's a little bit of a sell off here. On Friday we saw bitcoin pulling back down and I'm going to pull it up here to the 20 day moving average. We had tested this area four times since the pivot right. We broke out, we bounced off of it, we broke out, we bounced off of it. Then we did this on three separate occasions now making it nearly a fourth attempt to bounce off of this level once again. So a little bit of a sell off into that 20 day moving average. But now bitcoin is very quickly gaining traction, finding support and pushing back up towards the all time highs. Now altcoins over here, they're doing pretty good as well. You have Ethereum up 4% on the day, Salana up 1 1/2 percent, XRP up 1%, Sui up 5%, Aerodrome up 2 1/2 percent. And as I scroll through the watch list on the right side of the screen, there are very few cryptocurrencies that are red on the day and there's even projects that are up double digits over here like virtuals. So the crypto market is seeing a pretty sharp recovery as things are moving again very quickly back to the upside. And the big question here is why is this happening? Well, let's get into just a few of these headlines that I want to show you all, but here's a breaking piece of news. Cantor Fitzgerald officially launches a 2 billion dollar Bitcoin backed lending with first loans. Now this is a big deal because Cancer Fitzgerald needs no introduction. They are a giant from the traditional financial side of things. But even they're looking into the crypto space and saying, hey, we see the value over here, we want a piece of that pie and we're going to be coming in hot with $2 billion. In fact, I think that the comment over here, the top one, says it best. Wall street loves bitcoin now and everyone wants a piece of the pie. But it certainly doesn't stop there. Trump Media announced that they are going to be doing a $2.5 billion bitcoin treasury deal using crypto.com and Anchorage for custody. Again, what this means is that they are essentially going to be taking on the Michael Saylor strategy like approach. Now there's other names that are trying to do the same thing. We have VivX, Strive Asset Management. They just raised $750 million to go out there and buy Bitcoin. Well, what about this right if all these people are buying bitcoin, what is going to happen to the price and also what's going to happen to the supply? Because I think that the supply and demand ultimately paint the true price of what bitcoin should be at. Well, here's a great image that I found off of X. In fact, I want to give credits to the, to the guy who posted this. But Quinton brought this up and he said, hey, OTC deaths are drying up. And you can look at this. He says bitcoin OTC balances have dropped from 486,000 thousand to just 115,000 bitcoin since 2021. And when you look at this chart, it's, it's a drastic drop and it is continuing to fall and fall and fall. Well, what does this mean? Well, this means that Bitcoin is becoming more rare. And as something sees a drop in supply, but an increase in demand, it pushes the price upwards. You can see that over the same time period, Bitcoin has been spiking up in value. And of course, you know, we're expecting it to go a whole lot higher than this. Well, not only are the OTC deaths, which stands for over the counter deaths for Bitcoin, you know, falling in terms of how much Bitcoin they actually have left, but also the amount that's being held on exchanges, the exchange reserves, this has been on a big decline as well. In fact, I have it right up here on the screen. But you can see that this has been falling for years. Since 2022. We have seen the amount and that's what this blue and purple line is over here is, this is showing the exchange reserves, the amount of Bitcoin that these exchanges have. And this has been dwindling and falling and bleeding. And over the last year or so, this has been in a free fall. Now as the price, or excuse me, as the reserves have been dwindling, the price has been skyrocketing. And again, I think that this all helps paint the true picture of what should bitcoin be. So not only do we have Bitcoin being lost, we have the amount of bitcoin created slowing down through the having cycles. We have the OTC deaths that are seeing their, their reserves dwindle. We're seeing exchanges with their reserves dwindling. And at the same time, demand is skyrocketing. And these institutions are trying to get their hands on billions of and billions and billions of dollars of bitcoin. And that's not even counting the ETFs these are just, you know, separate institutions who want to create a bitcoin like strategy. And so what this means is that this is something that could push the price of bitcoin so much higher than I think a lot of us understand. Right. A lot of us look at this and we say, hey, we're bullish on bitcoin because of inflation or it set supply or this and that. But we fail to look at all of these other things, factors. And when you start putting all the puzzle pieces together again, I think it paints the true picture here that bitcoin could go certainly a whole lot higher. And then when you start to look at this, you know, this, this price point of $100,000 for Bitcoin, 110,000, it starts to seem a little bit undervalued. Now, let's look at some other big news that's happening here in the crypto space outside of bitcoin, because this is huge. Circle just submitted their IPO filing for, for the New York Stock Exchange. If you're not familiar with who Circle is, they are the company behind usdc, the second largest stablecoin in the world. I'm second only to Tether. So they're going to be going public. And obviously they do a whole lot of other things in the crypto space, but that's what they're known for. And so what this looks like is this might be one of the single best ways to get stablecoin exposure, or specifically upside exposure to the stablecoin market. Right. Because there's not really, you know, contrary to many other cryptos, you can't go in and just buy USDC and hope that it appreciates in value. It doesn't do that. It's a stablecoin. So people have always wondered, how can we get upside exposure to the stablecoin market? Because you can't just buy and hold a stablecoin and let it appreciate in price, because it doesn't do that. Well, this looks like it's going to be one of the ways. And there was talks that Ripple or Coinbase could be the ones to do this. In fact, we've talked about this in the network, but it looks like that's not the case. I don't know what happened. I don't know if people told that they shouldn't do it, which I don't think that they should have taken the deal in the first place. So I'm glad that they are not doing this, but they're going to be going through with their IPO listing. So keep an eye out on this because more and more crypto companies are getting added to the, to the New York Stock Exchange every single month, right? We've seen it with Coinbase, we've seen it with Microstrategy, we've seen, we're seeing it with Circle, or I guess now it's strategy, but, you know, now we're seeing it with Circle. And again, crypto is on the up and up. This thing is being adopted, like levels that we have not seen and maybe ever. Now, beyond this standard charter, again, another huge financial player, they're coming out here and saying, hey, we see Solana reaching 500 by the end of 2029. Now Solana right now is just over, you know, $100 and maybe $80 last time I checked. That would mean that this has rooms to do multiples back to the upside if this stays true. So they're bullish on Bitcoin, they're bullish on Solana. You know, people are bullish on the crypto space as a whole. And here's another form of people saying, hey, we want altcoins and we want them to be here to stay. And they're looking at even Sui or Sui, depending on how you pronounce it. And 21 shares, who's an ARC partner, they are filing for a SUI ETF with nasdaq. So we have all these different ETF listings and I wish I had the document pulled up. I think there's like 40 or 50 of them right now. It's crazy, but there's all these different cryptocurrency ETFs, billions of dollars are being bought. The supply and the reserves for cryptocurrency are shrinking and it can't keep up with the sheer level of demand that we're witnessing. So if you're here in the crypto markets and you're coming off the holiday and you're like, man, I want to hear something good, I want to hear something positive. What is happening behind the scenes. That's what's happening behind the scenes. And the result is that everything is moving back to the upside. Now. We're going to have our ups and downs, right? Prices are going to rise, they're to going to fall. Crypto is notoriously volatile and that's not going to change. But again, my thoughts here are, let's zoom out, let's take a step back, let's look at the big picture. And I think that is what's so bullish about the market here. So I hope this video helped. If it did, again, hit that like and subscribe button. We make these videos every single week, completely for free. So if you like them, make sure that you stick around. And we're happy to have you here.
- [19:11]
Bryce
Sam.