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- [00:00]
Host (possibly TiVo)
Foreign. Everybody. Welcome Back to the Crypto 101 podcast. It's another rundown and we have a special edition today as Ethereum seems to be on turmoil, not necessarily in the price action. This week it is online on X. The knives are out. We covered a little bit of how Bankless has sold the rest of their Ethereum and was not bullish. Very negative on Ethereum last week on the timeline. Brian and I kicked that around and then over the weekend Vitalik, the creator of Ethereum responded with a very, very large thread. So is Ethereum dead? People are wondering on the timeline. The debate continues as some people say they're selling their east, they're done. Other people seem to be buying up the supply. Non stop bit mine. Tom Lee, 5% sharp link s bet continue to buy a lot of other bulls on the timeline. So the question is, is Ethereum dead? Let's answer it, let's kick it around. But first, welcome back to my friend Brendan. Brendan, it's been a couple weeks since we last had you. Excited to have you. Today we're gonna kick around the Ethereum is dead conversation, a little bit of other news and then Friday we'll be live. Me doing some ta back on it on Friday. So welcome back to the show.
- [01:18]
Brendan
Dude, it's good to be back. I was supposed to have made an appearance here recently. Got a little sick. Still a little bit sick. So you know, pardon in advance everyone if I have a little cough or a little stiff or something. But man, it's gonna be a good episode. TiVo, I have some very straightforward opinions about the Ethereum situation. So we'll talk about that. We'll dive into the fun.
- [01:41]
Host (possibly TiVo)
Let's dive into that right now. I know on the sheet we have coin market cap. We'll go back to that later. Let's just dive into this. Ethereum is Ethereum dead? It's the talk of the timeline. Last week there was the bankless sell off. Did you see that? Did you? Are you a Bankless, avid Bankless listener? Did you, what are your thoughts around that? Before we dive into Vitalik's response, You
- [01:59]
Brendan
know, I saw that. I also saw that Harvard was unwinding some of their crypto as well. There was another group that was doing this as well. And in fact we were bantering about it inside of our work chats where it's like all the analysts, you know, you yourself, a lot of the different team members and we were bantering back and forth like, oh, you know, is this the bottom signal? Because it was Like Harvard selling their crypto and bankless and you know, there's someone else and everyone's like, oh, you know, throw up your hands at crypto. And it reminds me of a typical capitulation, like end to a bare market. Now are we at the end of this bare market? Yeah, I'm not quite sure. Maybe we have a little bit more to go. But I do think we're reaching into this capitulation zone. It happens every time, right? People throw up their hands, they give up, they think the worst is going to happen. You see everyone selling, you know, moving away, yada yada, Max pain is essentially what it translates to. So is crypto dead? I don't think. Or is a theory that. I don't think so. I really, really don't think so. I think that this is definitely a speed bump. And I think what you're seeing here is some frustration and some disagreement about how Ethereum should be ran, how it should be operating, what its focuses should be. And I think the big frustration that people are having is that despite the tech market and all the traditional financial markets kind of going through a pretty gnarly bearish pullback for about 6ish months from like end of October up to like March, April area, you know, they had a pretty, pretty big double digit pullback, but then they all rallied to new all time highs afterwards. I think the difference here is that you're seeing that crypto over the same period fell even more aggressively and it has not pulled back, you know, even halfway to its all time highs. And so I think that's what it is. It's a mix between people disagreeing about how it should be run moving forward, disagreement about where its priority should be, and then the frustration that it hasn't seen the same recovery as maybe other assets have. And I think that is where a lot of this like FUD started happening. A lot of the sphere and stuff started happening. And then I think Vitalik's response was what followed in light of a lot of that.
- [04:19]
Host (possibly TiVo)
Yeah, it's a, it's a great breakdown. Again, if you're not on X and you want to be, it is, it is kind of the place to get a lot of the breaking news. But also if you're listening to the rundown, that's what we're here to do for you, kind of break it down. So as you can see here, if you're on YouTube, we're on the, I'm sharing it on the screen kind kind of a very, you know, very long, long response. Kind of, you know I think it was good to always hear from him and respond. My, my takeaway is I, I think and he kind of talked about it here, you know it's important because the inferior. The Ethereum foundation is a limited organization with limited resources, limited capacity and only has zero Brendan 0.16 of all ETH less than many other individual ETH holders. So it's again even though it's the central foundation, I guess the theory was for it to be decentralized right A DEC protocol so they're following in the footsteps of what they thought the road map would be. And then you have all these other people, the, the Tom Lee's of the world, the S bets of the world and obviously a lot of individuals and companies that are flocking towards Ethereum building on Ethereum. A lot of people are building on top of Ethereum. So it kind of, it's one of those things where he's just such an OG of crypto that when he types out, you know, I mean this thing goes on here as I'm scrolling if you're seeing it on YouTube but at the same time it's like okay, you can take away what he was saying. You obviously can have your own opinions especially when you're investing money, your money or a fiduciary duty of a company's money. But the ethereum foundation at 0 again 0.16 is they just don't, they don't
- [05:53]
Brendan
have that much skin in the game
- [05:55]
Host (possibly TiVo)
and hand up every time the Ethereum foundation sold some crypto I know they sold recently to bit mine they're selling off some crypto. Crypto. It's kind of like man, that's not like a great look for you know, the stronghold of the Ethereum foundation in sense of believing in the future of Ethereum. But at the same time the flip side to that is it doesn't, I don't, I don't know if is it too strong to say it doesn't matter because they own such a few supply and they're not, you know again they're tightening their ship and scaling in the Ethereum foundation down. It's not this bloated entity anymore. So does it even kind of matter?
- [06:26]
Brendan
I think that their reputation holds more weight than their actions if that makes sense. I think that they are this household name obviously Vitalik's a part of it. They've been around for a while. They were pioneering Ethereum for, for a long, long time. They're a key influential factor. But you're right you know, he even said it, most Ethereum like single holders are larger than the Ethereum foundation, right? They have 0.16% of the. You look at something like Bitmine, which has almost 5% of the supply. And there's many individual holders that have more than that. I think people think that they have more impact than they actually do. And I think there's still people who unfortunately believe that this is a monarchy. And it's like, oh well, Vitalik's a part of the Ethereum Foundation. Whatever they choose to do is just the golden rule. And that's what's going to happen where it doesn't work like that. They are just like one node. They're just one player within the Ethereum ecosystem which is decentralized. And as he says, he wants to make it more decentralized. So they're just a single player, not even the biggest player. I think that they just have the longest and maybe largest reputation throughout Ethereum's history. But because of that, people tend to think that they hold more weight and more decision making power and more stuff like that than they actually do. And what he basically says throughout this is just like, guys, you know, we want to focus on like decentralization, we want to focus on privacy, we want to focus on other things. But he wants to get back to the core of like what Ethereum was originally supposed to be. And I think a lot of people for a long time were saying, hey, sacrifice, sacrifice decentralization for scalability, sacrifice this for that. Make this thing, you know, the world's operating system, make it the next version of the Internet. Do whatever it takes to get there, right? Even if we stray from the core purpose. And what he's coming back to, and essentially this message is saying, I don't want to do that. He's saying scaling matters, but it's not everything. It's not enough to sacrifice some of these things for. And so he's basically saying scaling needs to be done the right way. And what you've seen in a lot of these modern blockchains and layer ones is that they have the opposite approach. They say scaling is everything. How can we get the cheapest gas fees, the fastest transaction times, the most cost efficient and fastest network possible. And a lot of them sacrifice decentralization for that or other things. He's saying, no, no, no, it matters, but not that much. We can't sacrifice some of the core things. And he wants to get back to that. And that's really what comes out to in this message, is saying, hey, let's realign with our primary purpose of what Ethereum was here for. And that's his stance. And he even says like, hey guys, we're just one player, right? There's everyone else in the Ethereum ecosystem. We're just one player. We're not even the biggest one. And so even if that's what we want, everyone could disagree with us. And guess what? None of that happens. But he's just saying, I'm just giving my opinion on this as obviously one of the key players inside of Ethereum. So, you know, that needs to be understood as well. You know, he's not. It's not a dictatorship where it's like whatever he wants and whatever the Ethereum foundation wants goes. That's just not the way that Ethereum works. And that's actually, you know, far away from what he believes.
- [09:59]
Host (possibly TiVo)
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- [12:23]
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Brendan
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- [14:45]
Brendan
So that kind of brings us to where we're at.
- [14:48]
Host (possibly TiVo)
Yeah and it's a great breakdown and I pulled up just Coin market gap here again. Tune in on Friday we'll make sure to tee up Ethereum for some technical analysis breakdown but as you can see here they did put a little note here on coin market cap. This is where the Bankless co founder David Hoffman sold his eth. Is it something that we are going to have a bottom signal almost like the crypto bagel? Brendan, is this something that we need to add to the chart? It kind of feels like it, all the bearish sentiment but it's not, it's not all just bearish sentiment here for Ethereum and we want to make sure that we point out both sides. Brendan is this sharing now? I just want to make sure the Bitcoin news. Awesome. So Bit Mine and Sharplank so BMNR and SBET look with their market caps to be getting into the area to be included into some of the Russell indexes. I believe it's going to happen June 26th. It looks like Bit Mine will be added to the Russell 1000, sharp link added to the Russell 2000 and this gets some flows, some just you know, passive flows. Obviously the Russell being the Russell 2000 index and then they have the 1000, they also have the 3000. So it's just, it's, it's showing that these companies are growing their market cap even though again technically there's they're small caps but growing nonetheless. The market cap of these two companies that are, you know, Ethereum based companies and believe in, in holding Ethereum on their balance sheet. Again Bit Mine is approaching the alchemy of 5%. So it's just, I, I think it's just interesting timing nonetheless. Literally this news broke Friday as we were getting ready to leave for the weekend. Two days or a day before that was when Bankless was selling and then you know obviously Vitalik over the weekend. So it is an interesting time to be seeing these dats get some momentum with passive flows and be included into these indexes while you know the, the Ethereum foundation and the og, you know, believers and you know, advocators that Bankless was for the Ethereum seem to be, you know, quote unquote giving up on it, at least from an investment wise. And not to say that they did, you know, they were there for a long time so they made, they made plenty of money on it. Right. It was a very successful investment. But definitely, you know, it still is throwing in the towel when you sell it all.
- [17:00]
Brendan
Yeah, it is. And yeah, I saw a really good presentation from Tom Lee, you know, over at Bit mine about a week ago and he was talking about it and there's two things I want to say. Number one, he makes a, still a pretty compelling argument about why Bitmine's Ethereum accumulation strategy makes sense. And he's basically saying like, hey, here's all the reasons why I think Ethereum could get to this price. And if Ethereum gets to this price, then Bitmine could go to X, Y and Z. And he had this really good presentation. But then the other thing is that you have to remember that bitmind's not just Ethereum based, right? They have ownership in other private ventures and companies and other things. And Mr. Beast is one of those, right? He's one of the, I think like one of the few major players that owns some ownership of Mr. Beast Co. And which is the largest YouTuber in the world for people who don't know, just huge, huge. I would say he's the largest, probably, dare I say the largest social media personality in the world. But they do other things besides just that. But they're huge for Ethereum and crypto and so is sharply. Now I think what we'll see here is probably a thinning of companies like them. I think like the wannabe grifters who are just doing it for the news and the headlines, you'll probably see them fizzle away. So I just want to prepare people for that. You're probably going to see people who aren't fully committed to this fade away and then you're going to see the big players like them gobble up the other one's ownership and market share. And I think that's what we're seeing right now. I also think it makes sense for companies like them. I think that in the, in the Russell, they deserve to have some sort of, of ownership inside of that. I think that they deserve to be in there because people want some exposure. I don't think it's fair to say, oh, they should have no exposure to small caps. So I think that it makes sense to have like Bit Mine and sharplink. My issue would be if all of a sudden you have 20 of these guys inside the Russell like 1,000, I'd be like, that doesn't really make as much sense. But I think the whole point of this is like again, small cap, diversified exposure. And if there is nothing like this then and they have the market cap and they have the balance sheet and they have been, you know, meeting the criteria from an earnings perspective, then I think absolutely it makes sense that they would be added into here. So I think also again, net positive for them because whenever people go and get exposure to these ETFs, if they are doing that to the Russell 1000 or 3000, then that means that they're going to be kind of indirectly purchasing things like bit mine and sbet, should they get this all finalized.
- [19:50]
Host (possibly TiVo)
Great breakdown. And I just wanted to clarify, I have the, the notes here. So Bit Mine addition to the Russell 3000 index and confirmed to the 1000 based on its market cap ranking. SBET in addition to the Russell 3000 is confirmed to the Russell 2000. And according to the research, it says that It'll take effect June 26th, one month from today. Brendan? June 26th, 2026 after close. So something we'll keep monitoring. Obviously there will be some new news break. I'm sure we'll get some sound bites. We've had SBET on the podcast. Would love to have bitmind on the podcast as well. We'll try and circle back maybe and get some of those guys back in rotation. It'd be great to hear from them moving along to Bitcoin. So I saw this news and it's not necessarily directly related to Bitcoin, but DRAM, which is the memory chip ETF, has finally beaten out BlackRock's IBIT. So IBIT had the throne for 6.5 billion assets in the shortest amount of time to get there, right? And DRAM passes it and becomes the fastest growing ETF in history. This thing was an absolute rocket ship for, for ETFs and again passes Bitcoin, which I bring this up, Brendan, because kind of a thesis that I've been saying is, you know, why is crypto down or in the bear market? Why is it not coming back is that, you know, there's a lot of flows that are going to this memory ETF trade, this AI, you know, the, the fobs and the memories and the chips. This trade has been insane this year, like literally record breaking for some of these companies. Up 2 3, 4, 500, 600% in, you know, weeks and months, you know, what's that? Sandisk comes to mind. And then this etf. So, so I bring this up because the thesis that I've kind of been saying as somebody who's here every week and steering the conversation between all of our analysts is like, hey, listen, rotation of capital is a thing. And right now, you know, bitcoin and crypto is not the bell of the ball that it was, you know, last year with, you know, the new administration and the momentum and, and that's not necessarily a bad thing because what can. There's money being made over there and again, you can't time it. Is it in the third inning, the sixth inning, the ninth inning. We don't really know. I think a market crash would be bad for all assets. Assets, obviously, but there's rotation of capital again. When the war came, everybody, everybody went to staples. I don't know if you did a show with me. I think it was Brian, but I said a joke, but I jokingly put my money where my mouth is. And I shorted Smuckers because schmucker's was up 30. I think it was like 30% in a couple weeks. And I was just in an all time high. And I was just like, hey, is, did these jelly and jams cure cancer? Did I miss something? If I go to the supermarket and get a grape or strawberry Schmucker's jam with a little bit of Jif peanut butter, do I spread that, eat it? And then I, I'll never get cancer because I don't understand why schmuckers is up 30% in a couple of weeks. It's because the money was flowing to the safety of staples. And then there was this insane fertilizer trade because the, oh, the straighter Hermus is closed, we're not gonna be able to get any mulch. No fertilizer for the plants. So again, the money and the narratives always seem to flow and change. And if you're one of the best and one of the greats, you can kind of find those and you. But even Warren Buffett, you know, doesn't get them all the time, right? So my question to you as I tee you up after that rant is, you know, what do you think of that? I think it's a fun stat. It beats out ibit. And are you keeping track of this trade? Do you think it could. Again, when things change and narratives change, a lot of this money could flow right back into crypto.
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Brendan
Crypto well, to, to think about this, the, the whole dram space has, you're right, been parabolic. The market goes through cycles where different things are popular. Let's just look at just the last year you had crypto kind of exploding up into last summer, into the fall. That had a crazy run. Then you had metals going crazy. Then you had different, maybe AI related booms. Then you had quantum booms. Now you're having this. I mean it changes so fast, right? Everything seems somewhat secular where it's like there's all these mini cycles happening in very different verticals. If you look at SanDisk alone, I mean, SanDisk is up since April of 2025. Are you ready for this? TiVo since April of last year is up 5600% from around $28 to currently sitting just around $1600. It is ridiculous. So it's like you look at this and it's like, well, yeah, that'll probably do it. That'll cause a chart like this to happen. And it will. But again, things are somewhat secular, meaning that they happen in cycles. Now what happened after bitcoin and crypto went up all that as much as it did? Well, it fell down. What happened to metals? They fell pretty aggressively after that. What happened to the quantum stocks after they had their big move up? They also fell pretty aggressively. What's going to happen after this? You know, I would imagine at some point you probably get a gnarly correction. Is that now, is that later? I'm not sure. I can't say I followed the dram space too closely, but I know a decent amount about it. Like I build my own computers and stuff and I enjoy doing it, so I do follow it and I find it fascinating. But what I will say is that you've seen this happen in a number of different spaces in just the last one year alone. And they move up and you have these thousand percent moves up or multiple hundreds of percent moves to the upside and then you know, you have slowdown and retracement period. So I just say if you're going to momentum trade, do it. But you know, if you're a long term investor, I don't really think that it makes sense to be chasing this, especially like SanDisk, which is up, as I said, over 5,600% in the last, just barely over a year. So yeah, yeah. So I mean, it is what it is, right? It is what it is.
- [25:51]
Host (possibly TiVo)
But that's not to say that Bitcoin's not holding strong. So I pull up this from friend of the show. Eric over at Bloomberg citing that the net flows for the spot bitcoin ETF were close to a new high watermark. Just amazing resilience considering a 50 drawdown in Bitcoin. It just, you know, the, the, the ETF flows stayed strong. There was not a mass exodus, which is interesting. It shows, you know, obviously a lot of people maybe moved over from holding a traditional bitcoin or they split. Maybe they have some in their wallet, some in the etf. And then anybody that's new has been properly educated by, you know, whatever, you know, advisors there are, especially, you know, BlackRock or Bitwise is, you know, this is something that's been a part of a portfolio, a long term vision of it. So it's been good to see not a ton of panic out of the Bitcoin ETFs and kind of like what we just covered. It's like, hey, flows come, they go. There's a new hot, you know, hot commodity on the street that everybody wants. And you know, it's, it's, it's obviously the, the chip trade right now is the time to shine. But that's not, say that it can't circle back around, right? And you turn and, and I think there's some interesting things in the pipeline. Something that we've kind of been talking on the show, coming out of consensus was this talk of the bitcoin. I think it was bitcoin Vegas first. And then consensus was the bitcoin reserve. So The Reserve, the U.S. strategic Reserve, there was a little bit of noise. Is there going to be some new news on it? And we covered it on the show, but we kept saying, well, we'll wait until we see it. We'll wait until we see it. Still haven't seen it yet, to be quite honest, but there was an interesting sound bite I saw on Fox News. So I'm going to pull this up. Brandon, I'm going to play this really quick. Can you hear this? If not, just say no. Can you hear that?
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Brendan
No.
- [27:43]
Host (possibly TiVo)
All right, so let's tee this up. I saw it on Fox News. Let me see if I can share sound and then go back to this. I think we should be good. I have to enter in my password this is live produced. And then you'll hear it. Bitcoin, which is equivalent to how much
- [28:03]
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- [28:05]
Host (possibly TiVo)
And he already found a way to fund it without taxpayers. The treasury is currently sucking up crypto assets tied to Iran through Operation Economic Fury. Baggage's plan, seize the Ayatollah's crypto and drop it straight into the, the U.S. balance sheet. But he warns, the GOP cannot afford to drag its feet.
- [28:23]
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- [28:25]
Host (possibly TiVo)
to pass this bill and lock that into law while Republicans still control both houses of Congress. So of course, as we know, the clock is ticking with the midterms coming up in November. So I thought that was something new with the conflict obviously being over in Iran and the Ayatollah, you know, we've covered how they were doing transactions in bitcoin. They were taking fees to, you know, by boats if they wanted to be escorted across the street in bitcoin. And now there's this report of, you know, is the government trying to seize bitcoin? Are they doing it? Are they building something? Like that's kind of what I was saying over the last couple months about this news was, hey, maybe they're just talking about it, not doing anything. Maybe they're trying to build a plan and then release it. Or maybe they're doing something behind the scenes, not telling us and then when it's done, they'll let us know what it was. No, we don't know. We're not in the administration. And you know, a couple of those things have no action that I just mentioned. Hey, they're not doing anything. And then a couple of those things where there's a lot of action going on, we just don't know about it yet. All interesting. I thought that was an interesting segment. Just, you know, obviously we, we want, we want to know and I think, you know, as midterms get closer, the, the crypto cohort, if you want to keep them on board, needs some action along with the act, obviously.
- [29:38]
Brendan
Yeah, I mean they said it right there. They said, hey, the top, the, the clock is ticking. And I think that they're right now for us, I think that's probably a little bit of a good thing. Right? There's a little bit of pressure, there's incentive to kind of get this thing done. If they go through with this and they acquire bitcoin and increase the US's balance sheet of crypto as a whole and bitcoin buy this, you have to understand that it's not them going and buying bitcoin. So will it move the needle on price? It could, but that would be because of the news being announced, not because of order book changes necessarily happening. Right. They are not going. So say if the US increases their balance sheet of bitcoin by like, I don't know, 5 million or $5 billion or something. Then it's not like they're going and buying $5 billion worth of Bitcoin and they're running through the order books and they're liquidating shorts. Like, that's not what would happen here. They would just grab and seize it and then send it over to their own custody and their own storage and their own wallet or exchange or whatever, something like that. Now, that news of them doing it could cause people to go and say, hey, I actually want to go buy. But it's not like the US government's actually going and buying here, which, again, I think that that would be probably a decent thing is to see, hey, the reserve is building. Would that be as good as them buying it? No, but I think buying it's hard, man. Buying it's hard because then you're using taxpayer money to potentially accumulate more of it, which I could see there being some backlash on, even though we're obviously super, super pro bitcoin, and I would be fine with that. But again, it's hard. So I think that this would be one way to expand it. You just have to understand the effect that it has. It's not them going out. And if all of a sudden, you see, oh, the US's exposure to Bitcoin has been increased by 5 billion, it is not. If they go this route, it is not them buying it. So it has a different way of affecting the markets because it's not going to be directly through the order book.
- [31:44]
Host (possibly TiVo)
Great breakdown. And again, it's something that we're just. We're watching, we're waiting for info. And you know, to be honest, it hasn't come, but it's something that we will continue to do. Two more things. One's a quick hitter. Just some sad news that, again, we could cover, just because that's what we do, we cover the news. Some sad news out of Ondo and the Ondo team. They announced that their founder, Nathan Allman, passed away over the weekend. So obviously we've talked about Ando on this show. A lot of tokenization, a lot of bullish people around that project, and obviously super sad news from. From a human level. You know, obviously a very smart, successful guy. So thoughts and prayers to his family and obviously the team that works at Ondo, because I'm sure, you know, like, like us, Brendan, you know, we work together, but we're friends. So it's super sad. But as financial journalists and crypto journalists, you know, I think it's worth noting just in General. So anybody out there that follows the Ondo project or invests in it, there's going to be a little bit of an org shakeup. Looks like Ian debode, longtime president, will jump into the CEO role immediately. He's been a long term leader of strategy, product and day by day operations for over two years. That's their official statement for moving forward. But just something to note. Nothing we're gonna harp on too, too, too much, but thoughts and prayers to Nathan, his family and the whole Ando team to wrap us up. We'll jump over to. We'll jump over. We got that on the screen there, Brendan. A little coin. Market cap.
- [33:13]
Brendan
Yep.
- [33:13]
Host (possibly TiVo)
Popping up. The fear, greed. We don't talk about it too much. I mentioned it. You know, I think we were in neutral last time. Right in the middle was the last time I brought it up, Brandon. And now we're just leaning, leaning, leaning back towards the fear. We were actually in it last week. We gave it a kiss last week, a little kiss of the fear. What's your, what's your thoughts? You feeling fearful? You feeling like you're in a good spot? What do you think?
- [33:37]
Brendan
You know, I think we're heading back into the fear territory. We'll talk about this in Friday's session because we're going to have a lot more technicals on that one. But I think there's fear. There's fear that we really were unable to have the breakout that we wanted. There's fear that we rejected the 200 day moving average. There's fear that we were rejecting our prior consolidation zone, rejecting the anchored vwap from the all time high, there's fear that we were unable to essentially break out of the technicals on the charts the way that I think a lot of us wanted to see. And so what that means is that even though a lot of indicators and other things were saying, hey, there's evidence that this is the bottom and there's evidence of a reversal and there's statistics pointing us towards that and there's data that's pointing us towards that. The chart itself is saying the bear market has not ended from a technical standpoint because you're rejecting another bear flag, you're rejecting another lower high, you're failing to break above the key levels that need to be broken for a market reversal. And so I think that that is causing more fear, is the rejection of a lot of those key and critical levels bringing us back down. You know, as of right now, we're beneath the 200 day moving average. The, the 50 day, the 20 day moving average, we're back underneath all of these and we're kind of pushing back to the, into the 70s where we are holding above the 80s for at least a little bit. And so I think that that naturally causes us to get a little bit more fear now. You know, if this continues then I think, you know, you could probably see an acceleration. You really, really want to see bitcoin hold on to the mid-70 thousands. I think if you crack there, there can be a little bit of. Not even a little bit, you get some spicy price action, right? If you start breaking below the mid-70s, I think you can get some spicy price action. So I'd watch out here. Buckle up. We're going to cover this here in just a few days on Friday when we open up the charts in that rundown. So make sure you stick around for it. But I think that's what's causing this fear Teva that you were just talking about is that hey, we rejected some critical levels, we're coming back down. The bear market is still in question despite other areas doing quite well. And I think that's what has people fearful. I think the fear really stems from right here. The fear stems from why is the traditional market doing so well and hitting all time highs while crypto's not. Why are other risk on assets doing good? Well, this isn't necessarily doing quite as well. I think that is where the fear comes from here. But what we have to walk back and remind ourselves is that crypto is pretty secular. Where we're at right now is historically not a great year for bitcoin. Right. We are two years after the halving. The having is also two years away in that gray area where you're like in the in between stages. It's typically not a great performance zone for bitcoin. You get the best performance kind of going into the halving. After the halving, when you're in just middle ground, you don't get great historical performance. So I think that's another thing to kind of just remind yourself of and don't freak out too much about.
- [36:47]
Host (possibly TiVo)
It's a great breakdown and it teases up perfectly for Friday. So whether you're watching on YouTube or listening on audio, we really appreciate it as always. Tune in Friday afternoon. I'll post in the in the community tab there our exact time when we know. But definitely tune into the live if you can, Friday afternoon and if not, tune in on audio or watch the replay on YouTube as well. Brandon, thanks for joining me. Everybody else, we always appreciate you watching, listening. Give us a like subscribe if you're new. And that's all for now. We'll talk to you Friday. Bye bye everybody.
- [37:31]
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