← Bitcoin News Alerts | Daily BTC Macro Signal
Bitcoin News Alerts | Daily BTC Macro Signal
1918: “Bitcoin Crash Warning: $70,000 Max Pain Scenario On The Table”
00:35:08
Bitcoin has two clear targets on the horizon as unfilled CME futures gaps create near-term BTC price magnets.
Loading summary
Transcript22 lines
- [00:02]
Captain
Race the rudders.
- [00:03]
Crypto Host
Raise the sails.
- [00:04]
Captain
Race the sails.
- [00:05]
Crypto Host
Captain, an unidentified ship is approaching. Over. Roger. Wait.
- [00:10]
Captain
Is that an enterprise sales solution?
- [00:13]
Crypto Host
Reach sales professionals, not professional sailors. With LinkedIn ads, you can target the.
- [00:18]
Captain
Right people by industry, job title and more.
- [00:21]
Crypto Host
We'll even give you a $100 credit on your next campaign. Get started today at LinkedIn.com results, terms and conditions apply.
- [00:31]
Captain
Some people just know they could save hundreds on car insurance by checking Allstate first. Like you know to check the Jumbotron first before attempting to eat a stack of supreme nachos in one bite. Now you're just a meme that everyone shares on game day. Checking first is smart, so check Allstate first for a quote that could save you hundreds. You're in good hands with Allstate. Savings vary, subject to terms, conditions and availability. Allstate Fire and Casualty Insurance Company and.
- [00:55]
Crypto Host
Affiliates, Northbrook, Illinois Welcome Crypto Fam, to the number one daily bitcoin pod. Bitcoin continues its correction, currently sitting at 83,500 at the time of the live stream. And in today's show, I'll be sharing the latest bitcoin technical analysis as well as the latest updates from Robert Kiyosaki who says Bitcoin crashing. Bitcoin is on sale and I am buying. We'll also be discussing Meta planet buys the dip issues 13.4 million in bonds for their bitcoin purchases as well as BlackRock Bitcoin Fun Sheds 4,220 million as ETF continues its seven day losing streak. We'll also be discussing Ken Griffin, Citadel securities planning to launch their own crypto services. I'll be breaking down this report and why it's so significant. We'll also be discussing Michael Sailor Breaking news, he just met with the House Financial Services Committee to discuss how we can make the US the global leader in bitcoin. You know, his proposal is purchasing like 20% of the Bitcoin supply, which is like 4.2 million for the United States. We'll also be discussing breaking news regarding the futures gap, currently sitting at 78,000, which is looking more and more probable that we close it. And speaking of bearish targets, we have Arthur Hayes Just Blaze, who has been calling for 70,000 as the bottom. As the ETF exodus continues, 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 cryptonewsalerts.net again that's crypto news alerts.net today is pod episode 1918. I repeat, today is pod episode 1918 and markets are oddly enough in the green. But we are having a massive correction from the all time high of 1093. Currently trading barely above 83, 000 at the time of is February 27. Only one more day left until the end of the month. Unfortunately, February is not going to be a good monthly close. It will absolutely close in the red unless there's a massive turnaround between today and tomorrow, which is unlikely. But nonetheless, let's break down everything you do need to know in the market. As you know, I'm your host jv. I'm here each and every day. Let's kick it off with our market watch. As you can see, pretty little bitty just above 83100 at the time of the live according to coin 360 at least ether down 1% trading just above 2200 as the majority of the major cryptos are correcting and in the red checking out coinmarketcap.com the current crypto market cap sits at 2.78 trillion. The Bitcoin market cap all the way down to 1.6 trillion which is pretty wild. 132 billion worth of volume for the past 24 hours and the bitcoin dominance back on the decline at 59.6% with ether dominance also back on the decline all the way down to 9.9%. And checking out top 100 crypto gainers past 24 hours. Worldcoin leading the pack up 8% followed by hype up 7% followed by stacks layer two for the bidding network up roughly 6% on the day. But the majority of the alts as you can see are correcting and in the red with very modest gains overall. For those that are gainers and checking out the crypto bubbles we get a visual perspective. Let's start on the day. As you can see here, I'd say actually the majority of the market is in the green. It's just a lot of the top coins not doing so well today. But zooming out on the monthly is to tell the tape like maybe 5% of the market even in the green and those that are wrecked 30, 40, 50, 60 plus percent is pretty wild. It hasn't been a good month for alts, that's for sure. And checking out the crypto Greed and fear index were all the way down to a 10 in extreme fear. The Silver lining. The lower this number goes in extreme fear the more likely of a pump and we're all the way down to a 10. Can it go lower? Absolutely. But hopefully this carnage doesn't last much longer and we can continue to pump it up. Yesterday was a 21, last week a 49 and last month a 72. In greed and checking out the time chain calendar, we're currently on block number 885,586. We have 164, 414 blocks into the having in 2028 and you can currently exchange one fiat monopoly tulip bulb mania dollar for 1204 sats. So as I say, pick up the sats, put down the gats, pick up some Bitcoin caps from a man Sergio over@bitcoin caps.net let's dive into today's TA aka astrology for the Brosis. Headline here reads Bitcoin retreats to 85 as the US confirms March, Canada and Mexico tariffs. And in breaking news before we deep dive deeper there, Rich dad tweeted Bitcoin's a crashing. Bitcoin's on a sale. I am a buying why do I add the us? I don't. Why? The problem is not bitcoin. The problem is our monetary system and our criminal Would you wear the same.
- [06:05]
Captain
Shoes for every occasion or rock the same outfit seven days a week? Of course not. Your style is better with options. Your investments could be too. CBO Index options give you access to various contract sizes, global trading hours and potential tax advantages. That's a good look for any portfolio. If you're ready to invest in style, head to betterwithoptions.com There are risks associated with SIBO company products. Review the disclosures and disclaimers at cbo.com us/disclaimers bankers amen.
- [06:35]
Crypto Host
America's bankrupt. Our debt, including social programs such as Medicare and Social Security, including our 36 trillion debt, is over $230 trillion. Sad of the US bonds. They're a joke. When countries such as Japan and China stop buying our bonds, inflation goes through the roof. Our economy in the US dollar will crash. Those are a few of the reasons why bitcoin crashes. I smile and buy more. Bitcoin is money with integrity. Fake money is a thief. I trade fake money for gold, silver and Bitcoin anytime they go on sale. And I'll take it a step further. I personally believe gold is a scam. I personally believe silver is a scam. Why? They control the precious metal markets as Blackrock controls every market except bitcoin they can try to manipulate it and trust me, they do, but they do not control it because they can't print more out of thin air. They can't find more in the earth. And I digress. But check it right. Here's the one hour chart. Bitcoin drifted back to currently 82.83 range as of today for the Wall Street Open as markets digested confirmation of the new U. S Trade tariffs. Just like Nipinator digesting a bone and all that kind of stuff. Trading View showed Bitcoin pulling back for the relief bounce to 87 on the day. This followed a trip to a new 15 week low of 82 into the D close with the bulls once again running out of steam as US President Trump doubled down on tariffs against Canada and Mexico. Due to begin March 4th. These will indeed go into effect as scheduled. Trump shared on Truth Social both the S and P and the Nasdaq opened down as a result with the US dollar index gaining 0.6% to cancel out more than a week of the downside and reacting the CAISI letter shared ironically a lot of the flows back into the US Dollar. The US dollar becomes the safest risky asset during trade wars because it is the most stable currency. And I think this is all by design. I mean Trump's main priority or goal reading between the lines is to keep the dollar strong. I've heard him say this through his own mouth previous time he was president when he was all totally against bitcoin. The main reason he was against bitcoin he's like my job is to protect the dollar and keep a strong dollar and bitcoin gets in the way and lo and behold don't think the agenda is any different. His whole OB working for the Fed is to keep the dollar strong and apparently that's what these currency wars are doing or the dollar index wouldn't be up and everything crashing against it. Right? But Bitcoin ETFs have now seen six straight daily withdrawals totaling negative 2.1 billion and we'll dive into the mass exodus of the ETF market a little later. Bullish Bitcoin monthly close not looking good. Very improbable at this time as I believe the 28th. I would assume tomorrow is the final day of the month. So unless there's a massive God candle or two, most likely we're closing in the red and I'm going to cover some of the, you know, 70, 000 range targets in a little bit. As more and more analysts are warming up and hinting or suggesting this. But there's only been one analyst that has been very, very consistent for the past month or two calling for 70000 as Arthur Hayes. So I'll entertain you with that. And we still have a lot to share. I actually didn't even pull up the live charts. I got sidetracked. So let's pull up some of the live charts. We'll do some live chart action. Jackson for the Broskis of course you should be able to see here in a second on your screen. This is the Coinbase Exchange via Trading View and this is the one hour chart. Obviously past couple of hours very bearish as the negative red candles continue to be printed on the hourly chart. Zooming out from there. See if it looks any better on the four hour. Not really. Past 12 hours have been red candles printed as well. Unfortunately we do have a bear target sitting at 81, 799 not far from where we're at. Zooming out a little more on the one day of the one day chart. Also extremely bearish. 1, 2, 3, 4, 5 consecutive red candle closes and again we get the monthly candle closed tomorrow. We do have some bear targets on the daily chart. 1 cent all the way down at 68. 699. Ouch. That's gonna wreck a lot of traders. And then we have one all the way down at 49. If you were to ask me JV, what do you think are the odds of hitting 49? I'd say very low. I don't think that's a probable scenario to correct that low considering the previous cycle all time high was 69, which was I believe achieved November 10th of 2021. I don't think we fall back down that low and if we did, shit's going to get scary. I'll just be 100 with you guys, but I don't think that's the most probable scenario. What about 68? Can that happen? Man, it can. Arthur Hayes is calling for 70. Stick around and I'll share his logic on why he believes we can imagine.
- [11:31]
Captain
What'S possible when learning doesn't get in the way of life. At Capella University. Our game changing flex path learning format lets you set your own deadline so you can learn at a time and pace that works for you. It's an education you can tailor to your schedule. That means you don't have to put your life on hold to pursue your professional goals. Instead, enjoy learning your way and earn your degree without missing a beat. A different future is closer than you think with Capella University. Learn more at capella.
- [11:59]
Crypto Host
Edu Potentially bottom out at around that range. And yes there are CME future gaps in between, you know, 70 and the 80,000 range. So that can happen as well. Anything can happen. Always be prepared and never be scared. Always have a, you know, a strategy Zooming out on the weekly as we can see here, again we're going to get a new weekly close. You can see it's pretty damn bearish thus far. For the red candle you see on your screen we do have a bull target which has been sitting there for several months. It's a cup and handle sitting at 124. In order to achieve that we got to first recapture the psychological resistance of 100k, flip it into support and then re enter price discovery which is currently 1093 which was achie received on January 20, inauguration day for the Trumpster before we could even really entertain 124 happening. But anything's possible. We'll see how it plays out. And zooming out on the monthly as you can see here, we also get the monthly close tomorrow and my bad if I said the weekly close isn't till Sunday so if I mess that up. But anyways this is now the monthly chart and yeah, big bearish candle forming. Unfortunately not much bullishness happening at the current moment. We got to again get back above 100,000 before we can reverse things. But nonetheless that's where we're at in the market. You guys let me know where you feel will likely go next. And again, the silver lining for the bitcoiners watching, which are all of you, one bitcoin is still one bitcoin. So if there's carnage in the streets, it's just going to shake out the weak hands, the cabbage hands, the portnoy hands. Hopefully you guys are smarter than that and you don't sell to Black Rock and the rest of the whales. You feel me? Some bullish news here. Meta Planet buys the dip and issues 13.4 million in bonds for bitcoin purchases. That's right, the Japanese bitcoin Treasury firm metal planet issued 2 billion Japanese yen, valid at 13.35 million USD in bonds to continue expanding as biddy reserves, marking the latest move in a series of purchases that began May 2024. On February 27, Meta Planet announced the fresh issuance and 0% ordinary bonds worth 2 billion yen to purchase Bitcoin. According to the notice, this was the seventh time Meta Planet issued ordinary bonds for making bitcoin purchases. As the official announcement from Meta Planet right there. Meta planet will issue 40 ordinary bonds, each with a face value of 50 million yen. The bonds, which bear no interest, will be redeemable in full August 26, 2025. And according to the company, the purchase or the proceeds will be allocated to evo Fund, Meta Planet's dedicated Bitcoin acquisition fund. And since May of 13th last year, Meta Planet purchased Bitcoin on 17 occasions, its biggest being the 619 BTC acquisition. December 20th of 2024. The company has accumulated a total of 2,235. BTC vowed at about 192 million. And while the company was founded in 1999, Meta Planet stock prices listed on the Tokyo Stock Exchange have struggled since 2013 up until Bitcoin came along, right? The company shift towards bitcoin accumulation has drawn comparison to Strategy, the US software firm founded by Mikey Sailor, which pioneered the bitcoin treasury investments. Meta Planet stock has surged since it began acquiring the biddy, rising from 200 yen to 6,650 yen in early this year, marking a 3,225 increase in less than a year. So if you're a publicly traded company and you're thinking or pondering or entertaining putting bitty on thy balance sheet, just think about what they were able to achieve. Meta planet stock up 3225%. You know, strategy stock up ridonkulous as well. And pretty much all the companies embracing Bitcoin are making the big moves. So it may be advantageous to at least give it some serious consideration. But still, it shares have since pulled back and currently traded around 4,000 yen. I guess with the current correction during the February stock surge, Meta Planet announced plans to acquire 10,000 bitcoin by the fourth quarter of this year. Very advantageous. And that intends to increase the total holdings to 21,000bitcoin. That's a blackjack baby. By the end of 2026, which would be worth 2 billion of the current market prices. And I wish them all the success in the world. Shout out Japan. Shout out Meta Planet and those stacking the bidding and the Nipinator for giving us the next Nipinator indicator. Let's discuss these Bitcoin ETFs. Ironic. The number is bring facts around. Black Rock Bitcoin Fun Shed. 420 million again. 420 Prois as the ETF losing streak now hits seven consecutive days. That's right. Investors of the Black Rock iShares Bitcoin Trust, better known as iBit, pulled out a record 420 million from the fund in a day as the bitcoin sunk to yearly lows. Black rock spot Bitcoin ETF shed 5,000 of the biddy February 26 and its largest outflow to date, eclipsing the 332 million lost January 2. The massive outflow follows a record day.
- [16:54]
Captain
Of bleeding Every cup of Nespresso coffee is an invitation to transform your morning routine into a ritual you can treasure each and every day using the Vertuo Pop, a simple touch of the button, freshly bruised bold aromas and a rich velvety Crema layer for delicious cafe quality coffee at home. Whether you enjoy your coffee hot or over ice, every sip every morning is unforgettable. Nothing tastes like nespresso coffee. Visit nespresso.com or our app to explore our full range of easy to use machines and coffees not found anywhere else.
- [17:26]
Crypto Host
From the products on February 24th when more than 1.1 billion exited on aggregate. It also culminates in a seven trading day outflow streak that has almost seen 3 billion exiting the product. The Black Rock outflow brings the total days outflow to 756 million according to preliminary figures from Coin Glass. However, ETF store president Nate Ji says he thinks it's a shorter term blip. That's right. We also have the Fidelity Wise Origin Bitcoin Fun FBTZ saw a seven day outflow streak so it's not just Ibit with a further 145 million exiting the product on February 26th, which was yesterday. We also have Bitwise ARC 21, Invesco, Franklin, Wisdom Tree and Grayscale all seeing outflows ranging between 10 and 60 million dollars. Crypto markets have extended the losses with the total cap falling a further almost 6% on the day to 2.9 trillion and Bitcoin dumping to now in the 82 range. The market correction now stands at 25% from the top. Will 1 trillion exit in the space since the all time high December 17? I don't understand the logic in that because my understanding was January 20th is the all time high. Correct me if I'm wrong But we hit 1093 on Inauguration Day so get your together. Coin Telegraph However, Crypto Quant founder Kijong Yu said it would be a noob mistake mistake to panic sell. I agree with that and a 30 correction in a bitcoin bull cycle is common as it dropped 53% in 2021 and it still recovered to the all time high. Quoting them here Buying when prices rise and selling when they Fall is the worst investment strategy. And then we have the Bitmax founder Arthur Hayes as well as 10x research head calling for a massive correction as low as 70,000 which we'll dive into a little later in the show. Next story, let's discuss the Citadel, then Michael Sailor and then we'll discuss a 70, 000 potential crash. According to Arthur Hayes's Blaze. This headline reads well, breaking news. Michael Sailor met with the House Financial Services Committee to discuss how we can make the US the global leader of bitcoin. But like I said, I'm getting ahead of myself. Let's touch upon the Citadel's security, then we'll discuss Michael Saylor Orange Pillin the U S government and then we'll dive into the potential 70,000 target in play. So yeah Ken Griffin Citadel Security is planning to launch Crypto services According to this latest report, the capital markets firm Citadels reportedly planning diving into the crypto sector. Bloomberg, citing people familiar with the matter, reports that the market maker aims to serve as a liquidity provider for crypto assets. Citadel securities reportedly wants to become a market maker on a number of high profile exchanges like Banance, Coinbase and Crypto.com and the firm plans to initially establish international market making teams. The firm gained confidence from President Trump's vocal support of crypto. As per Bloomberg, billionaire hedge fund manager Ken Griffin founded the Citadel securities and the investment giant Citadel, which is a separate entity. He currently serves as the chief executive of Citadel and non executive chairman of Citadel Securities. In 2023, Citadel securities joined other financial giants like Fidelity and Charles Schwab and backing the crypto exchange edX Markets which exclusively caters to institutional investors. The market making firm has also backed Hidden Road Partners, a startup prime brokerage focused on digital assets. And last month Trump signed an executive order to evaluate the creation of a strategic national bitcoin and crypto stockpile. The order also calls for the government to promote the development and growth of lawful and legitimate dollar peg stables created in the private sector. The administration's new leadership at the US SEC, the Nipinator also rescinded Staff Accounting Bulletin 121 the controversial rule forcing the banks to identify crypto assets held on behalf of their customers as liabilities on the balance sheet. And if you don't know now you know. So yeah, you guys let me know your thoughts with Citadel. That's extremely bullish news. Next story, let's discuss Sailor and then we'll discuss the 70,000 crash. So yeah. Sailor just recently tweeted on Tuesday I had the opportunity to meet with the House Financial Services Committee and Rep. French Hill to discuss digital assets, Bitcoin and how we can make the US the global leader in Bitcoin. The Digital asset framework I presented during the meeting is attached below. So I thought it would be kind of cool to go through the framework. Here's some proof of Work with Sailor Orange Pill in the US Government and shout out to the Gigachad this is what it looks like. I don't know if you can see this clearly and maybe I'll just read some of it. It's a very short read. It's only three pages. Maybe if I make it smaller it'll show up better. Hold on a second, let me see if that helps a little bit. I think it does. You should be able to see it all on your screen, but this is a PDF and note fam everything I reference in the show, I don't make it up. I find the information and I always link to the resources in the show, notes on rumble and YouTube. So in the description you can find all this if you're interested in downloading this framework from Michael Saylor, which he shared, but I'll read it to you Digital Assets Framework Principles and Opportunity for the United States of America Number one Taxonomy Defining Digital Assets this episode is.
- [22:37]
Captain
Brought to you by bank of America. What if your business could see beyond what is and into what can be? And what if you had a partner as vision as you are, bank of America gives customers access to trusted experts, real time insights and digital tools to make every move matter. What would you like the power to do? Visit bankofamerica.com banking for business bank of America is proud to be the official bank sponsor of FIFA World Cup 2026 classes.
- [23:06]
Crypto Host
Establishing a clear, universally understood taxonomy of digital assets is critical to advancing policy and fostering innovation. And it goes on to break down digital commodity, digital security, digital curr, digital token, digital NFT and a digital abt. Number two Legitimacy Establishing Rights and Responsibilities Creating a robust framework of rights and responsibilities is essential for the issuers, exchanges and owners to engage in digital asset markets with confidence. We need a path to legitimacy. We need rights, we need responsibilities. We need exchange rights and responsibilities, owner rights and responsibilities and foundational principles such as no one has the right to lie, cheat or steal. All participants are civilly and criminally responsible for their actions. Pretty straightforward. Number three Practicality Rational Rationale Compliance to empower the innovation, digital asset regulation must prioritize efficiency and innovation over friction and bureaucracy, Standardized disclosures, industry led compliance, cost limits of issuance compliance and maintenance compliance Streamline issuance with the goal to enable exponential improvements and cost speed, quality and accessibility via free market competition and innovation. Number four vision a capital markets renaissance the US has an opportunity to catalyze 21st century capital market renaissance Unleashing trillions of dollars in value creation, rapid increase, cost reduction, access expansion, broader participation investor opportunities enabling access to thousands of digital assets assets that would mean coins I guess, including tokenized commodities, real estate, art, businesses, teams, collectible IP and brands, financial instruments, equity debt, derivatives and currencies, product services projects that provide value to customers, investors and fans and the final segment five Opportunity Establishing the United States as the Global Digital Leader A strategic digital asset policy can strengthen the US Dollar, neutralize the national debt and position America as the global leader of the 21st central century digital economy. USD as the global reserve digital currency grow digital currency markets from 25 billion to 10 trillion creating massive demand for the U S Treasuries Next digital capital growth Expanding global digital capital markets from 2 trillion to 280 trillion with U S investors capturing the majority of this wealth Digital asset leadership Driving growth in digital assets beyond Bitcoin from 1 trillion to 590 trillion with the United States dominating this industry and as well as he saved the best for last Strategic Bitcoin Reserve Establish a Bitcoin reserve capable of creating 16 to 81 trillion in wealth for the US treasury, providing a pathway to offset to national debt. Conclusion Seizing the digital asset opportunity by establishing a clear taxonomy, a legitimate rights based framework and practical compliance obligations, the US can lead the global digital economy. A capital markets renaissance fueled by digital assets will unlock trillions of dollars of wealth, empower millions of businesses and solidify the US dollar as the foundation of the 21st century digital financial system. And if you don't know now, you know now for our feature story of the day. Is the Bitcoin price about to fill the 78,000 Bitcoin futures gap? And Bitcoin could be headed to 70,000 Goblin Town on the ETF exodus according to Just Blaze Arthur Hayes. So let's break this down for you considering we're currently at around 83000 at the time of the live stream. So Bitcoin may finally reach a key downside target from last year as Bitcoin edges ever closer to the old all time highs. REC Capital flag an incoming gap in the CME groups Bitcoin futures market Bitcoin hit a new multi month low around 822000 as of yesterday. As you can see here chart's not looking so good. There's the one hour and despite this, fears still remain over where the market may put it in the next local. Bottom thanks to the broad liquidity, wipeout and lack of buyer conviction, the latest data from Coin Glass shows dispersed bid liquidity at around 80Gs, which pales in comparison to the Wall of ask up to 90 000. So for REC Capital, there are two easy targets on the horizon. Bitcoin has created a sizable CME gap, both on the upside and downside. And if history history is a guide, the price should eventually fill both levels. Quoting the analysts here, Bitcoin is getting closer to filling the CME gap that created between 78 and 80, 700 in November 2024. On this retrace, however, Bitcoin has developed a brand new CME gap between 92. 7 and 94, 000. We'll send it rec Capital noted that the upside gap matches the lows of what was until this week, a three month long trading range. Quoting them again, this offers some confluence to the idea of price revisiting 93.5 at some point in the future as part of the post Breakdown Relief rally. This episode is brought to you by Lifelock.
- [28:02]
Captain
During tax season, your personal info travels.
- [28:05]
Crypto Host
To a lot of places between payroll, your tax consultant and the IRS.
- [28:09]
Captain
If your W2 gets exposed, that's just the ticket for identity thieves. That's why Lifelock monitors millions of data points every second. If your identity is stolen, they'll fix it, guaranteed or your money back. Don't let identity thieves take you for a ride. Save up to 40% your first year.
- [28:25]
Crypto Host
Visit lifelock.com podcast Terms apply, especially since Bitcoin has filled almost every CME gap that forms since mid March 2024 thus far. So considering we're so close to filling it and what history shows us, I think there's a strong probability we do correct, lower and fill these CME gaps. But you guys let me know your thoughts. Some markers already calling for an undoring reversal to take place. And as I mentioned earlier, the Crypto Green and Fear index is all the way down to a 10 which is the lowest we have seen it in months. And diving a little deeper, Arthur Hayes just blaze and the reason I'm even covering him specifically he's been calling for 70,000 for the past couple of months when really no other analysts were this was back when we were a hundred thousand. So let's entertain some of his thoughts here with how the market's likely to react. He recently posted 2 days ago on X Bitcoin Goblin Town. Incoming loss, lots of ibit, which is the black rock. You know, ETF Hodlers are hedge funds that went long ETF short CME futures to earn a yield greater from where they found or fund short term US Treasuries. So if that basis drops as Bitcoin falls, which we are, then these funds will sell their IBIT and buy back the CME futures, which is what Derek doing. These funds are in profit and given basis is close to the US T yields. They will unwind during the US hours and realize their profit. 70,000 ICU MOFO. So he's ultimately calling for a bottom of 70,000. And we also have 10X research head Marcus Celand saying a big part of the Bitcoin ETF demand is from the hedge funds playing this arbitrage game rather than the long term Hudders. And we discussed this in the previous episodes. There's absolutely manipulation going on in the markets, especially with the whales. But this is to be expected and we've been calling it for a very long time. So there you have it. Laser Cat also says that Hayes is more of an ETH expert. He is a crypto expert in general. And when I first got into crypto, he was the CEO of the largest derivative exchange on the planet, which was Bitmex, in which in my opinion got targeted by the SEC because they couldn't control it. And then they kind of put FTX in that place as the derivative lead of the world. And then they launched charges against him and then they, you know, did that whole shakedown, getting as much money from them and getting them to leave the company so that they can control the derivative market through Sam Bankman, Fried's company, because Gensler was complicit. But I know I'm preaching to the choir. I'm sure you guys remember that. But Bitcoin at a discount price is a good thing. And don't forget to check out cryptonewsalerts.net for the full premium experience with video and to participate in our live Q A. And I look forward to seeing you on tomorrow's episode Hoddle.