
Trump's crypto team looks like they've bought about ~$40,000,000 of bitcoin so far over the last couple hours, rotating their treasury into Bitcoin in $4.7m slugs! Looks like total of 6 tx so far.
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JV
Welcome crypto fam to number one daily Bitcoin pod. And congratulations. We hit the new all time high, surpassing 109,000 per bitcoin this morning. Today's Trump's Inauguration day, so we'll be discussing everything you need to know in the markets including the latest technical analysis aka astrology for the Broskis. We'll also be discussing crypto ETPC 2.2 billion of inflows amid the Trump inauguration euphoria. And also Melania meme coin whale nets 36 million in profit amid rug pull concerns. And speaking of rug pulls, we'll also be discussing the Trump meme coin which is recently launched as well as bitcoin price nearing 110,000 as bitcoin reserve odds now spike to 60%. We'll also be discussing quoting David Bailey, CEO of Bitcoin Magazine, Trump's crypto team has started rotating their treasury into Bitcoin and 4.7 million slugs look like a total of six TX's thus far. And quoting the High priest Bitcoin Max Kaiser rap Bitcoin is not secure. Looks like another Trump and dump, referring to the news that Trump's World Liberty Financial just purchased 47 million worth the wrapped bitcoin. We'll also be taking a look at the overall crypto market. All this plus so much more in today's show. Yo, what's good Crypto fam? This is first and foremost a video show, so if you want the full premium experience with video, visit my YouTube channel at crypto news alerts. Again, that's crypto news alerts.net today is spot episode 1881. I'm your host JV. Historic day. We hit price discovery. New all time high. 1093, 124 in play. That's the sexy cup and handle target on the weekly chart. Today is January 20, 2025. We shall survive. And welcome everyone to the live stream. Let's kick it off with our market watch as we do each and every day. As you can see the broader market in the red including the bitty. We did tap the new all time high this morning. Extreme volatility. After Trump's inauguration speech and not mentioning bitcoin or crypto whatsoever, market started going downwards. And checking out coin market cap.com the current crypto market cap sits at 3.58 trillion, almost the all time high. Bitcoin market cap is above 2 trillion. We got 40, I'm sorry, 402 billion. That's pretty high for the volume for the past 24 hours which is back on the rise. Bitcoin dominance on the rise at 57.4%. Ether dominance not doing so great at 11.2% today. Checking out top 100 crypto gainers past 24 hours we got a lead in the pack. Very modest gain of 2.6% as the majority of the alts are correcting. And in the red. And check it out, the cryp crypto bubbles. We get a visual perspective on the day. You can see safe to say 90 to 95% of the market in the red. Zooming out on the monthly, I'd say maybe 60, 40 red over green. Some of the top gainers are fart coin. You can't make this ish up. And I would assume the Trump coin is floating around there somewhere. And checking out the crypto greed and fear index today we're 76. Extreme greed yesterday 77. Last week I was 61 and last month 73. Checking out the time chain calendar. We're currently on block height number 88000085 and you can currently exchange one fiat monopoly dollar for nine sats. So yeah, less than 1000 sats per dollar. And as you know, one bitcoin can be divided by 100 million satoshis aka sats. And by the time one sat is equivalent to one fiat monopoly dollar, we're talking about a $100 million price action Jackson. But anyways, now for the astrology, for the brosis, let's check out some of the live charts of what's happening in the market. Again we hit the price discovery above 109. Headline here reads Bitcoin is 10%. God candle hints at 130G next in play. That's right. Bitcoin hit flash volatility today at the start of the European trading session. Hit an all time high of109,356 on Bitstamp. A very similar price action on Coinbase. Bitcoin's price climbed from below a hundred thousand January 19, rising as much as 10 to trade above 109 for the first time ever. It's going up forever. Laura here you're looking at the daily chart and in a little bit I'll pull up the live charts for you guys. So yeah, trading view confirmed Bitcoin reaching the highest ever levels after teleporting over 7, 200 bucks in 60 minutes. That's pretty wild. It just shows you how fast bitcoin could rip when it does its thing. Bitcoins are ripping like the news gotta be. This came hours before President Trump was to be inaugurated and returned to office for the second term. Over the weekend, this led to a wild ride of the crypto industry when Trump launched his own official meme coin. Trump achieving a market cap.
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JV
Usdisclaimers as high as 20 billion in only two days to rank amongst the top 15 as of yesterday January 19th. This sent shock waves across the market which continued when his wife Melania Trump launched her own meme Coin. And we're going to do a deep dive into the Melania Coin and Trump Coin a little later in the stream. So yeah. Bitcoin has made an impressive comeback and is once again flirting with all time highs after a roller coaster of a week that showcased the crypto's trademark volatility. And quoting the Gigachad, volatility equals life force. The rally reserved what had or reversed what had previously been a drop of over 3 billion worth of the open interest. Data from Coin glass showed an increase of roughly 4.7 billion as Bitcoin price rebounded. So is the next target 130. Let's discuss this one. Many expected the Trump Inauguration to take Bitcoin to new all time highs. Trader analyst Jelly is optimistic that the time may have come for a run up to the mid-130s. Quitting them here. Bitcoin broke out from the descending triangle angle, retested it and bounced straight to the new all time high. And he says the target of this move is somewhere in the mid130,000 range. Including Dan Crypto trades Bitcoin opened up with a small CME gap today but closed that straight away. Went straight to new all time highs. A great start for the week which is going to be very interesting one. You can say that again. And I'm going to be pulling up some of the live charts here via Trading View. We'll take a quick look at some of the different time frames as you can see here on your screen. This is the one hour chart. You can see we ran up to 1093 Big Red Corrective Candle and we're currently sitting at just shy of 104,000 at the time of the live stream. Zooming out from the one hour take a look at the four hour and we do have a orange target on the screen sitting at 130. We haven't seen this. This is the four hour chart baby. So yeah, 130,000 in play. When you think we're likely to hit that let me know and I'll hit that times two. What do you say? Zooming out on the one day chart you can see a big green candle forming already on the day rising. We wedge formation sensation and zooming out on the daily we'll take a quick look at the weekly. Let's see if it has increased the target or it's the same. Still the same. 124 cup and handle target. And again we got a weekly close actually just yesterday last night at around 6pm and so pretty bullish. And zooming out from the weekly we take a look at the monthly and as you can see we're forming a nice green candle for the month of January. December was a small itty bitty cracked of red and in November novemble we had the most bullish green candle close since the inception of the Genesis block. So there you go Crypto Bros. Let me know where you feel the price action will likely take us next. All right, so we we did some technical analysis. Let's go into the exchange traded products, the ETPs I think 2.2 billion in volume according to this headline. Amid the Trump inauguration euphoria. One of my favorite Kendrick jams by the way. It's called euphoria. That's a classic. Anyways, ETPS exchange rated products recorded their largest year to date inflow last week totaling 2.2 billion, according to Coin Shares. Euphoria over the upcoming inauguration of the US President elect Trump drove massive inflows into the crypto ETPs led by James Butterfill of Coin Shares, who said the latest Fund flows report on January 20th Bitcoin rose 15% in the last trading week. The amount of the total assets under management and crypto ETP surged to a new historic high of 171 billion. The spike of inflows and crypto investment products last week followed minor inflows totaling only 47 million for the second week of the new year. Meanwhile, crypto ETP volumes accounted for 34% of the total bitcoin volumes last week. That's right. Last week's 2.2 billion inflows were contributed mainly by the Bitcoin ETPs, which saw 1.9 billion of inflows bring in the year to date inflows to $2.7 billion. Quoting Butterfill Unusually, despite the recent price rises, we have seen the minor outflows from short positions of 5 million, while we typically see inflows after such positive price momentum. Meanwhile, Ethereum or ether based ETPs saw 246 million of inflows last week, correcting significant outflows seen thus far this year. Still, ether ETPs remain the poorest performer in terms of inflows this year with year to date outflows amounting to 28 million. Meanwhile, XRP continued gaining momentum last week with XRP based ETPs recording 31 million of inflows. And since November of 2024 inflows to XRP ETPs have surged 484 million. Now for Black Rock, their iShares ETF remained strong last week seeing almost 900 million of inflows. On the other hand, Grayscale's crypto ETFs continue to see outflows. What else is new? Totaling 145 million last week. And by the end of the week Grayscale crypto ETPs had seen 268 million of outflows for the year. And regionally the US saw the majority of the inflows at 2 billion, while healthy inflows were also seen in Switzerland, Canada with 89 million and 13 million.
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JV
Now, let's dive into Melania coin. That's right after, I think within 24 hours from the time Trump launched his meme coin, his wife, the first lady, just dropped her coin. This headline reads Melania meme coin whale nest 36 million profit amid the rug pull concerns. That's right, one trader invested $800,000 into the millennia Trump official meme coin, dubbed Official Melania Meme Melania and generated almost 2,000% in profits, according to look on chain. The Solana user identified by this address bought 800,000USDC on January 20th and then turned those holdings into 16 and a half million USDC, amounting to nearly 2000% gains and 12 hours. Whoa. Meanwhile, another Solana user turned 560000 worth of the USDC into 11 and a half million after investing in the Melania meme coin. Reports also surface about a trader generating 47 and a half million in profit. Now, here's the thing. I guess these are the people who took advantage of it as soon as it launched, right? And then people started aping into it. These gains appear alongside Melania's 25, 600 rise in less than 12 hours only in crypto fam after the debut across multiple crypto exchanges and announced by Melania Trump's verified account on X. Again, people are like did she get hacked? But no, it seems to be a real thing. The token already attracted 500000 holders according to Deck Screener, and has become the 10th most traded crypto by volume multi billion dollar market cap. Just like that, Melania's rise appears ahead of Trump's inauguration event Jan.20th, obviously today and follows the launch of the incoming US President's official meme coin, called the Official Trump, which we'll dive into deeper as our next story launched. Hours before Melania Trump had burst into the top 20 cryptos by market cap with a fully diluted value of around 50 billion. Now, correct me if I'm wrong, but I believe Trump's ballpark net worth was like 5 billion before this meme coin. It looks like he just potentially 10x his net worth within 24 hours by dropping a meme coin. Now, is the Melania meme coin a rug pull? What are your thoughts following the Melania meme Coin launch, some analysts have raised concerns about its token distribution website security and team organization. Let me know if you saw Coffeezilla. He just did a video today on the Melania coin and yesterday he did one on the Trump coin blockchain analytics platform. Bubble Maps revealed that nearly 90amillennia's token supply is held in a single wallet. Not a good look contradicting the project's claims of fairly distributed distributed allocation as you can see here. I mean the website created just a day before the launch. Also being criticized for lacking cyber security protection and featuring poorly developed code which crypto developer Cigar called half ass Coinbase executive Connor Grogan suggested Melania was likely handled by a less organized team compared to the Trump token. So it's ironic they have different teams behind each particular project. Liking it the project to a run by college kids. I mean you can't make this ish up, Connor wrote here. My guess is that this token was handled by a different team than Trump's. That's one look like profession. That one looks like professional market makers. This one honestly looks like the college kids did it. Further skepticism across the creator wallets funding linked to the pump dot fun Solana meme coin launchpad known for speculative ventures. While Grogan dismissed the likelihood of a rug pull, doubts over the project's transparency and professionalism continue to persist. So let me know your thoughts on Melania coin. Were you expecting that on your bingo card this year? Trump meme coin, Melania meme coin. What's next? Will it be the baron meme coin? Let me know your thoughts. Shout out. Petros, appreciate you subbing number one day on the bitcoin pod, but let's continue because we still got a lot to share. I think we just discussed the Melania coin. Now let's discuss the infamous Trump coin which came 24 hours before Melania coin. Headline here reads trump ushering in a new era of meme goings Analysts calling for an alt season. That's right, the Trump family newly launched tokens may usher in a new wave of retail investor adoption for the high risk digital assets such as the meme coins and the smaller cryptos. Trump's advisory team launched the official trump meme coin January 18th, 2 days ago and the official Melania token the following day, yesterday the 19th. Both on the Solana network. Now it's an interesting choice. They chose Solana right ahead of the U. S Presidential elect Trump's presidential inauguration which took place today. Let me know if you guys watched it. I'll be sharing some of the highlights of that here later in the stream. The meme coin launches represent a pivotal moment for the crypto industry, according to Andy Lynn, author of the Intergovernmental Blockchain Expert, the move will usher in a new era for meme coins and alts. Quitting her here. It's fascinating to consider this as a.
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JV
Revival of the ICO craze amplified by significant market capital and global influence. This isn't just another token launch. It is backed by the of coordinated financial groups and celebrity endorsement that can drive market caps into the billions, showcasing a scale of impact not seen before in the meme coin sector and precisely what we witness. What Trump's coin did within 2448 hours is unprecedented. It's never happened before and never seen a coin go from 0 to $50 billion market cap overnight. It's wild, but then again, he's like the most popular guy on the planet. Despite widespread retail enthusiasm, the Trump Token fell by 17% in 24 hours. The token rose to a peak market cap here. It says 14.9 billion on January 19th before falling over 27 to the current 10.8 billion market cap. As you can see here from data from Coin Market Cap now, The Trump token saw 5 billion wiped off the market cap in the 40 minutes right after Melania launched. Why do you think that is? Because people probably instantly took their money out of the Trump Token and moved it into the Melania token trying to catch a rip. With the price falling 38 from 74.60 to 45.90. How do you think the people who got caught holding the bag feel? Probably not so good. Other notable industry insiders see the Trump's Family meme coin launch as an unprecedented moment for the crypto industry. Quoting Crypto Quant CEO here, the underlying reality of financial markets behaving like memes isn't going away. It's worth considering how to make the most of it. With its decentralized nature, crypto is fully global, unrestricted market, meaning even more meme like assets will inevitably emerge. Will a Baron token come next though? Let me know your thoughts Trump has a big family, right? The Trump administration embraced free markets instead of regulated markets. And over the next four years we'll likely see all kinds of experiments with meme driven communities. Let's just hope it don't suffer the same fate as the Hawk tool Meme coin. The for other analysts, the meme coin launch signals of potential rotation into the alts excluding Bitcoin and ether. The meme coin success underscores the high risk appetite of investors chasing profits. Yeah, and also degens quoting the Valentin Foreigner analyst of the Blockhead Research Network. Such moves indicate a potential rotation of the capital from the major assets to the smaller high risk ones. Altcoins could perform Bitcoin and Ethereum in the coming months or they can go to zero, hence gambling. Still, some see this as a negative for the crypto space, accusing Trump's team of orchestrating a pump and dump AKA Trump and dump scheme after the back to back meme coin launches added billions of dollars to the net worths of the incoming US President and the First Lady. And there you have it. What are your thoughts on this meme coin euphoria? Trump Coin, Melania coin within 24 hours launching from one another. Let's dive into our next story. Let's discuss this bitcoin reserv now that we covered Melania Coin, Trump Coin and then we'll dive deeper into the executive orders and how that can likely propel pretty little bitty to 1 million per coin and then we'll tap into some live Q A and all that fun stuff. So yeah, this headline reads bitcoin price nears 110,000 after the Trump bitcoin reserve odds spiked to 60. That's right. On the poly market the odds are continuing to rise. Here you're looking at the one day chart again. New all time high achieved this morning. 1093 and some change just on the cusp of 110,000. I know that's Chandy's number right there. 10 and 11. We got a blackjack baby coming on the back of the broad volatility across the crypto markets. Return of the price discovery took the daily gains over 8%. And look at those candles looking all sexy and all. The weekly close have seen the dip below 100,000 mark as a mixture of confusion and suspicious moves accompanied with the controversial meme coins associated with Trump pump which we already covered. Price is testing supply here. When analysts wrote potentially front running tomorrow to create the exit liquidity. How do you think the markets will likely react by the end of the day? Let me know Family Bitcoin price breakout doesn't get much cleaner Other market participants reactions agreed that the biddy may be trading on undisclosed information, possibly involving the Trump administration's vow to create a strategic Bitcoin reserve using both Bitcoin and certain all coins. Data from prediction services service Poly Market put the odds of this becoming a reality at over 50 on the day, meaning it's the most likely outcome. You see it tapped out at 57 so you already know. Let me know if you believe he will sign this particular order as one of the executive orders establishing a strategic Bitcoin reserve for the United States of America. Someone clearly knows something on Bitcoin Crypto influencer Hedge dog argued like SKU noting huge supply creating a hurdle for the bulls at 110000 quoting them here 110000 supply remains what added US ass liquidity around 109 market providing liquidity for the higher here. Let's see if this sizable buyer can crack it. Speaking about sizable buyers, Mikey Saylor where.
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JV
I wonder if he is making a massive acquisition right now front running the President. Let me know your thoughts on that. Now for our feature story of the day. Trump's crypto team has started rotating their treasury into big bitcoin and 4.7 million dollar slugs. Looks like a total of 6 tx's thus far. Transactions here. So let's break this down. This is coming directly from David Bailey. He is the CEO of Bitcoin Magazine and the man responsible for getting Trump to actually speak at the Bitcoin Nashville event. So very smart man here. So I'm going to be reading you some of his tweets and he actually shows the proof of work on the ether scan. So here we have it. Another tweet he recently shared. Looks like they bought about 40 million worth of the bitcoin so far over the last couple of hours. And let's see another one here. Memo on the economy. Executive orders will be out at around 6pm Eastern. So what time is it right now? I would speculate probably 4:00. So you got two more hours. Here is the executive order plan for today. According to David Bailey. Some will be signed at the Capitol following the inauguration, meaning probably happening right now as we're streaming. More will be signed at the Capital One arena at the desk on stage. And most of the day's actions will come closer to COB from the White House. Now, allegedly there's 200 or so executive orders. I did see an executive order, if that's what it's called, from what's his name, Biden, on his last day here, ultimately pardoning Hunter and his entire family from all the criminal activity. Go figure. Not surprised. Now, Max Kaiser had a few tweets off the back of this news. Trump's World Liberty Financial, which is their D5 project they have their name on, just bought $47 million worth of wrapped bitcoin. And just for clarity, wrapped bitcoin is not the same as bitcoin because you could be buying rap bitcoin, but they may not necessarily exist. Kind of like derivatives, so you got to keep that in mind. But they use 47 million. Obviously it's a number because he is the 47th president. Personally, I like the number because I like the number 11. It's my Divine Omen number. Four plus seven is an 11. Seven plus four is an 11. Eight plus three, three plus eight. Divine numbers. But anyways, Max responded. Wrath. Bitcoin is not secure. Looks like another Trump and dump. Laughing my ass off. Bitcoin is the original decentralized cryptocurrency Wrapped bitcoin is a derivative. That's what I'm saying. That Token Eyes's bitcoin to bring its value and liquidity into ethereum based decentralized finance. But it relies on the custodians and is not entirely decentralized like bitcoin. So it's interesting. And Max also tweeted here, this is going to be in a hilarious train wreck. And this is the tweet that, you know, Chandy responded to. Trump thinks printing coins out of thin air is different than printing the US dollar out of thin air. He is, is, he is perplexed why inflation and rates are going higher. Not understanding that he is causing the inflation with his own coinery. Yeah, I mean, and let's go to David Bailey. Let's see if we got any updates here because I've been following him closely here on today's big day. So let's start here. It looks like that memo was the last post he did. About an hour ago, Michael Sailor did tweet the company of the 47 President of the United States just bought 47 million of Bitcoin. But correction, not real bitcoin wrapped bitcoin. There's a difference here. Trump put we will build a bitcoin strategic reserve and we will make the Solana trench warriors pay for it. That's hilarious. Art of the deal here. So they have aped 47 million into Bitcoin over the last three hours. Poetic. Pretty lit. And let's see if there's any other updates here. Let's go people. All engines full throttle. Congratulations to the first bitcoin president. Trump's crypto team started rotating their treasury to the bitcoin. Looks like they bought 40 million over the past couple of hours. Here's the ether scan proof of work here is the poly market odds. We talked about that earlier. I think it shot up to 57% the odds of him establishing a strategic bitcoin reserve. Reminder, let's stick to our promises. Hopefully one of those executive orders is a pardon of Ross Albrick who has been imprisoned under some for the past 10 years. Got two life savings sentences just because the US wanted to set an example for him being a bitcoiner. So he's about to be free. Free Ross. The U S Establishing a bitcoin strategic reserve is still not priced in. Not even close says Matt Hoogan. Bailey says I had zero involvement with Trump's meme coin, zero advanced notice and zero financial interest. Sadly, it is not my cup of tea. I am however, unbelievably thankful for everything Trump has done and will do for bitcoin in our industry at large. I will continue to do whatever I can. Listen you cry babies. Trump has taken us to the moon whether you like it or not. And then you can see a great dinner tonight. Peru. I guess this was at the crypto ball just the other day. But let's also type in Max guys and let's see if there's any new insights from the high priest himself. The one and only bishop. A bitcoin. It looks like his last post was the wrapped bitcoin is not secure. Looks like another trump and dump. Stacey Herbert reminds us. Come meet us here for the story of the building a bitcoin country. From creating the world's first strategic bitcoin reserve reserve speaking of El Salvador clearly to developing a cutting edge bitcoin education program to trailblazing nation state adoption. Learn how we did it. Kudos and respect to Max and Stacy. For those that don't know, I was just out there in bitcoin country firsthand and I got to experience what it's like, you know, I mean I got to experience the papusas and I paid using sats in bitcoin country, you know, I mean so Max wrote here, Trump got elected because of bitcoin. Understand the difference, my son. I will bravery you. So you already know family Trump adopts the bukele model. Word here is Trump to designate criminal cartels as designated global terrorist. Incoming White House official. So there's some of the just latest there, Max. Road shit coins can help clean up the gene pool by wiping out stupidity. And here's the first lady. Melania looks impeccable. That is a pretty gangster look if I do say so myself. Let me know your thoughts. Thoughts there. But there you have it. Yo. And in other news, it looks like 3.6 billion. Rumble CEO said on Friday Rumble made its first ever purchase of the bitcoin and it won't be their last. Yeah, I mean and someone wrote here, if President Trump is a white supremacist, according to crook Peter Mandelson and then he put Brits are lazy. They're not even trying to make sense anymore. Cut them off from Europe, cut off from the U.S. they just want to be left alone. Get pissed down the pub all day shouting profanity whilst. What is that? Swilling Marmite. Having sex with car exhaust pipes. Interesting man tasered by the police after refusing to stop having sex with the car exhaust. You can't make this stuff up. Welcome to the clown world we're living in. But let me know your thoughts. With all of that surrounding the hype, the executive orders will Trump establish the strategic bitcoin reserve. Yes or no? I'm going to read your comments out loud. Welcome everyone to the live stream. This is a Q A segment. We have 3,000 and people here laughing in the flesh Greatly appreciate that pro skis we're vibing in the tropics the air so sweet Sway into the rhythm with The Bitcoin beat JV's on the court he's calling the place Me and Serge balling winning all day Starlit sky strawberry moon dancing to the whispers of.
Crypto Influencer
A beauty tune Thirsty under a Puerto Rican hunger moon Libra scales tip to Aquarius charm It's bitcoin astrology we're disarmed Manifesting lasting connections on this golden shore this legendary perfection so good we're craving more coconuts Crack the fire pits Dragon flame lit spinderella spit and the fam's.
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Feeling hot to lose Unite Puerto Rican.
JV
Delight this is our night keeping it.
Crypto Influencer
Tight Puerto Rico nights under satoshi skies Just try to stop this good time Mr. Number 11 won't you come with me to the party I mean no bad wolf's gonna try but bitty wolves you can't deny from bitcoin live streams to juicy by the sea Wet dreams Strawberry goosey sexy vacation sexcation it's an oceanfront kind of ecstasy it's a 100k moist bitty dream Puerto Rico bitcoin Doing this feels right no diddy it feels tight so drippy I wanna hear you cry out my name I wanna make you feel the bang bang ding dong on.
JV
My door Watch how I answer I.
Crypto Influencer
Wanna soar Puerto Rico nights under satoshi skies Just try to stop this good time no bad wolf's gonna try but bitty wolves you can't deny from bitcoin live streams to juicy by the seawet dreams strawberry juicy deception Sexy vacation It's an ocean front kind of ecstasy it's a 100k moist bitty dream Tell me more boss man My pity king turns me on.
JV
We're rebels, we're dreamers we're the bitcoin tribe Living for the moment I'm riding.
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The rocket Living the bitty vibe.
JV
And don't forget to check out cryptonewsalerts.net for the full premium experience with video and to participate in our live Q and A. And I look forward to seeing you on tomorrow's episode. Hoddle.
Podcast Summary: Crypto News Alerts | Daily Bitcoin (BTC) & Cryptocurrency News
Episode 1881: Trump’s Crypto Team Has Started Rotating Their Treasury Into Bitcoin
Release Date: January 21, 2025
Host: Justin Verrengia (JV)
In Episode 1881, host Justin Verrengia delves into significant developments surrounding Bitcoin and the broader cryptocurrency market amid the backdrop of President Donald Trump's inauguration day. The episode begins with a celebratory tone as Bitcoin reaches a new all-time high, surpassing $109,000 early in the morning.
JV [01:00]: "Congratulations. We hit the new all-time high, surpassing 109,000 per bitcoin this morning."
Despite this milestone, the broader cryptocurrency market exhibits extreme volatility. Following Trump's inauguration speech, which notably omitted any mention of Bitcoin or cryptocurrencies, the market experienced downward pressure. The current cryptocurrency market capitalization stands at $3.58 trillion, with Bitcoin alone accounting for over $2 trillion.
JV [01:30]: "After Trump's inauguration speech and not mentioning bitcoin or crypto whatsoever, the market started going downwards."
JV provides a comprehensive technical analysis, highlighting Bitcoin's bullish patterns and potential future targets. The discussion includes chart patterns such as the cup and handle, with Bitcoin nearing $124,000 as a critical target on the weekly chart. Analyst Jelly is optimistic about Bitcoin potentially reaching the mid-$130,000 range.
JV [05:00]: "Trader analyst Jelly is optimistic that the time may have come for a run up to the mid-130s."
The Crypto Greed and Fear Index indicates heightened investor enthusiasm, registering at 76, up from 61 the previous week. This surge reflects the euphoria surrounding Trump’s crypto-related announcements and the influx of institutional interest.
JV [04:50]: "Crypto greed and fear index today we're 76. Extreme greed yesterday 77. Last week I was 61 and last month 73."
A significant portion of the episode focuses on the substantial inflows into cryptocurrency Exchange-Traded Products (ETPs). Amid the inauguration excitement, crypto ETPs saw $2.2 billion in inflows, marking the largest year-to-date inflow. Bitcoin ETPs led the charge with $1.9 billion, pushing the total assets under management to a historic $171 billion.
JV [09:20]: "ETPs recorded their largest year-to-date inflow last week totaling 2.2 billion, according to Coin Shares."
James Butterfill of Coin Shares remarks on the unusual market behavior, noting minor outflows from short positions despite the positive price momentum, which typically attracts more inflows.
JV [09:45]: "Quoting Butterfill: 'Unusually, despite the recent price rises, we have seen the minor outflows from short positions of 5 million, while we typically see inflows after such positive price momentum.'"
Ethereum-based ETPs, however, present a contrasting picture with $246 million in inflows but remain the poorest performers year-to-date with $28 million in outflows.
A highlight of the episode is the introduction of Melania Trump's meme coin, launched merely 24 hours after Trump's own meme coin. The token, dubbed "Official Melania Meme", has garnered immediate attention, generating nearly $36 million in profits amidst rising rug pull concerns.
JV [12:06]: "Melania meme coin whale nets 36 million in profit amid the rug pull concerns."
Early adopters have seen astronomical returns, with some traders converting small investments into millions within hours. For instance, a trader turned $800,000 USDC into $16.5 million USDC within 12 hours.
However, the rapid success has sparked skepticism regarding the token's legitimacy and security. On-chain data reveals that nearly 90% of Melania's token supply is concentrated in a single wallet, raising red flags about centralized control and potential manipulation.
JV [15:30]: "Bubble Maps revealed that nearly 90% of Melania's token supply is held in a single wallet. Not a good look."
Cryptocurrency developer Cigar criticized the project's security measures, citing poorly developed code and a hastily created website launched just a day before the token's debut.
JV [13:45]: "Crypto developer Cigar called it 'half-assed,' and Connor Grogan suggested Melania's coin was handled by a less organized team compared to Trump's token."
Despite these concerns, Melania's meme coin has already attracted 500,000 holders and ranks as the 10th most traded crypto by volume, highlighting its explosive entry into the market.
Preceding Melania's token, Trump launched his own meme coin, "Official Trump Meme," which quickly soared to a $50 billion market cap before experiencing a sharp decline of 17% within 24 hours. The initial surge is attributed to Trump's substantial influence and coordinated marketing efforts, but the subsequent drop suggests a classic pump-and-dump scenario.
JV [17:00]: "Trump's crypto team started rotating their treasury into Bitcoin and 4.7 million slugs look like a total of six TX's thus far."
Industry experts, including Andy Lynn from the Intergovernmental Blockchain Expert, view these launches as pivotal moments that could usher in a new altseason dominated by high-risk digital assets and meme coins.
JV [16:20]: "Analysts are calling for an alt season."
Conversely, some critics accuse Trump's team of orchestrating a pump-and-dump scheme, aimed at inflating the President's and First Lady’s net worth through strategic meme coin launches.
JV [16:50]: "Some see this as a negative for the crypto space, accusing Trump's team of orchestrating a pump and dump scheme."
A central theme of the episode is the revelation that Trump's crypto team has begun rotating the treasury into Bitcoin and Wrapped Bitcoin, signaling a potential move to establish a strategic Bitcoin reserve for the United States. David Bailey, CEO of Bitcoin Magazine, provides evidence through tweets showcasing transactions worth $40 million in Bitcoin.
JV [23:00]: "Trump's crypto team has started rotating their treasury into big bitcoin and 4.7 million dollar slugs."
Max Kaiser, known in the crypto community as the "High Priest Bitcoin," offers a skeptical perspective on this development, labeling it as another "Trump and dump" strategy. He emphasizes the security differences between Bitcoin and Wrapped Bitcoin, arguing that the latter relies on custodians and lacks the decentralization inherent to Bitcoin.
JV [22:34]: "Max Kaiser tweeted, 'Wrapped bitcoin is not secure. Looks like another Trump and dump.'"
David Bailey counters these criticisms by asserting that the strategic reserve move is beneficial for Bitcoin’s long-term adoption and the crypto industry's growth. He highlights Trump's contributions to Bitcoin, despite having no direct involvement with the meme coin endeavors.
JV [23:00]: "David Bailey stated, 'Trump has taken us to the moon whether you like it or not.'"
The episode also touches upon the odds of the strategic Bitcoin reserve being officially established, citing data from Poly Market that places the likelihood at 57%, suggesting strong market confidence in the initiative.
JV [24:00]: "Poly Market put the odds of establishing a strategic Bitcoin reserve at 57%, the most likely outcome."
Towards the end of the episode, JV engages with the listener community through a live Q&A segment, encouraging audience participation and feedback on the discussed topics. He emphasizes the importance of community sentiment in navigating the volatile crypto landscape.
JV [30:41]: "Don't forget to check out cryptonewsalerts.net for the full premium experience with video and to participate in our live Q&A."
Episode 1881 of Crypto News Alerts provides a thorough examination of the intersecting dynamics between political events and cryptocurrency markets. The simultaneous launches of Trump and Melania Trump's meme coins, coupled with strategic treasury moves into Bitcoin, signify a transformative period for the crypto ecosystem. While these developments present lucrative opportunities, they also raise concerns about market manipulation and the sustainability of meme-driven assets. Host Justin Verrengia adeptly navigates these complexities, offering listeners valuable insights and fostering an informed community dialogue.
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Disclaimer: The information presented in this summary is based on the transcript provided and reflects the discussions and opinions expressed by the podcast host and various quoted individuals during Episode 1881. Always conduct your own research before making any financial decisions related to cryptocurrencies.