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2237: Trump Picks Pro Bitcoin Fed Chair — $10M BTC Inevitable
00:26:57
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Today's episode of Bitcoin News Alerts is brought to you by Progressive Insurance. Do you ever find yourself playing the budgeting game? Well, with your name your price tool from Progressive you can find options that fit your budget and potentially lower your bills. Try it@progressive.com Progressive Casualty Insurance Company and affiliates Price and coverage match Limited by state law not available in all states.
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If you're not using Ironclad for contracts, but you could be leaving millions on the table without knowing it. Every contract holds renewal dates, pricing terms and obligations you can't afford to miss. But good luck finding them when it matters. Ironclad's AI instantly surfaces what matters so you can act before opportunities slip away. That's why they're trusted by OpenAI, L' Oreal and Salesforce. Find the savings hiding in your contracts@ironcladapp.com podcast. That's ironcladapp.com podcast welcome bitcoin fam to.
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The number one bitcoin pod. 15 trillion wiped out of the financial markets in the past 24 hours. Gold and silver back on the decline. Bitcoin regaining some momentum. I'll be breaking down what's happening of course as we do each and every day. Also big news. Trump picks a crypto friendly Kevin Wash as the new Fed chair. That's right, we got a new Fed chairman. We'll also be discussing Trump says the shutdown deal is a nearby the markets remain on edge. That's to say the least. Also binance to convert 1 billion SAFU reserves into Bitcoin within the next 30 days. Also new bank wins conditional US approval to form national bank. Also worst case scenario, crypto suddenly braced for a massive 1 trillion bitcoin price crash. But on the other side of that coin I'm going to be sharing with you. Billionaire Tim Draper says bitcoin's going to 10 million that the US dollar will die. You know what's coming next. We'll also be taking a look at the overall crypto market. All this plus so much more right here in today's show. Today is POT episode 2237. I'm your host JV alongside fetch here Nip andator keeping them a nip and a. It's been complete chaos in the market. Last 24 hours we topped 90,000 Bitcoin roller coaster all the way down to 81. 15 trillion wiped out in the past 24 from precious metals. It's been mind boggling to say the least. So in today's show we'll decipher what's really happening in the market. Let's start right here with our market watch. Pulling up coin360c. Bitcoin correcting just 0.2% on the day. It's trading just above 83.7 at the time of the live. Again we Bottomed out at 81 yesterday. Ether is down 2 1/2 percent. Trading back at around 2700. Bulk of the market correcting. And in the red checking out coinmarketcap.com it looks like crypto is the ultimate store value considering gold and silver just got decimated recently here today. But you can see crypto is only down 1.78% on the day. But the market cap is down to 2.83 trillion. So the liquidation of precious metals of a collective of 15 trillion. That's more than five times the size of the entire crypto market cap in 24 hours. This is unprecedented. Never happened before. The largest crash in financial history. Checking out top 100 crypto gainers past 24 hours. Barely anything in the green. Nothing worth noting because the market is correcting, you know. But anyways, checking out the cryptogreed and fear index today. Extreme fear 16, yesterday 26, last week 24 and last month of 21. Extreme fear time chain calendar one silver lining is SATs per dollar is going up and today's block height 934,378. You could exchange one fiat monopoly dollar for eleven hundred and ninety four SATs. So you know what to do. You pick up the SATs, put down those gats and pick up some bitcoin caps from my homie sergio over@bitcoin caps.net but let's do a little TA astrology for the bros. Looking at the live charts. Yeah, we had very bipolar price action. Like I mentioned earlier, we were just at 90,000. A little over a day ago we crashed all the way to 81, but we're currently right back near 84. You can see on the hourly chart right here on your screen checking out the four hour. You'll see here we had a big green candle taking us back up to close to 84 and then a corrective candle again. Very bipolar price action. One day chart you'll notice massive red candle yesterday, very significant taking us to the 81 bottom before a little bounce back and we're still in the red today. Continuing our correction, checking out the weekly. We do get a weekly close in two days. Not a good week last week. Not a good week. I should, I could ultimately say was a week. And yeah, unfortunately the correction is lumen unfortunately as well. Tomorrow is the big monthly close for January and the bearish momentum only continues. We had one of the most horrific fourth quarters preceding a having event the following year which was obviously fourth quarter 2025, October, November, December which supposed to have been bullish and extremely bearish taking us down wrecking us 80 being the current local low from that I think it was back in October same month we hit the all time high126.3 currently the current firm mint but as you'll notice you know we continue the correction for the month of January. Not the best way to kick off the new year but silver lining it's 420 right now and also February is the greatest month of the year. Just saying. But anyways, uh let's do a little analysis paralysis as you can see here, Bitcoin bear market almost over Bitcoin price metric outpace in the 2022 bottom let's start with the NVRV Z score says the Bitcoin currently undervalued. Thanks Captain Obvious. This is a phenomenal chart. He shared it with the data sourcing from crypto analyst James Easton. He agreed that the chart now looks a wild having fallen to the lowest levels ever recorded. The MVRV refers to the market value versus the realized value, the measure and the price in which the bitcoin supply last move, better known as the realized cap relative to the value of the bitcoin in existence, which is the current market cap. The Z score divides that ratio by the standard deviation of the market cap, giving clear overvalued and undervalued ranges for bitcoin at any given point of time. And here's what they have to share the latest the current Z score of the bitty is lower than during the bare market bottom in 2015, 2018 Covid crash of 2020 and 2022 as Van Pop pointed out, noting the rolling two year time frames, he shared, that's how deep we're in the markets. And yes, we're close to the end of it. So the end is near. There's some analysts that say February is going to be extremely bullish. Let me know your thoughts. Yeah, we're only two days away. Raw data from on chain analytics platform Glass Node put the Z score at the lowest level since October of 2023. That's when Bitcoin was 30G's baby. The last time the lives E score dipped into the green undervalued zone was at the end of the Last Bare Market 2022. That was a hell of a bear cuz we had Bankman freed scamming alongside Caroline Ellison who has now been released by from prison. By the way we had the Teraluna collapse and everything was just cascading. It was bad I think Bitcoin crashed all the way to 16 GS after achieving the 69 all time high for the cycle which is pretty wild right now. The Bitcoin price action fell to the two mon lows this week amid a sudden selloff across the risk assets, a coordinated sell off. I shall add the precious metals who literally lost 15 trillion being liquidated. Unprecedented numbers we ain't ever seen before. Bitcoin hit 81 per data correct. That's the local bottom we bottomed out before our little bounce back van a pop put. The markets are dropping massively. Today's episode of Bitcoin News Alerts is brought to you by Progressive Insurance. You chose to hit play on this podcast today. Smart Choice make another smart choice with Auto Quote Explorer to compare rates from multiple car insurance companies all at once. Try it@progressive.com Progressive Casualty Insurance Company and affiliates not available in all states or situations. Prices vary based on how you buy. Hi, this is Joe from Vanta. In today's digital world, compliance regulations are changing constantly and earning customer trust has never mattered more. Vanta helps companies get compliant fast and stay secure with the most advanced AI, automation and continuous monitoring out there. So whether you're a startup going for your first SoC2 or ISO 27001 or a growing enterprise managing vendor risk, Vanta makes it quick, easy and scalable. And I'm not just saying that because I work here. Get started@vanta.com they're down 1015 for the past 24 hours. I'm not saying the bull is over, far from it. But it will consolidate and that's also the trigger you'd like to see for the btc. And if you don't know, now you know. And we shall continue. Big News Breaking News Trump picks crypto friendly Kevin Warsh as the new Fed Chair. I'm going to assume you guys never heard of the guy either, because I asked numerous times in the comments and I didn't get a single response. But here we go. President Trump said Friday he will nominate the former Federal Reserve Governor Kevin Wash to succeed the J PAL as Chairman of the US Central bank, setting the stage for a high stake Senate confirmation battle. The decision announced by Trump on Truth Social confirmed Thursday that Trump would move ahead with the 55 year old and ex Fed official and Morgan Stanley banker as his preferred candidate. The President said that he had known Wash for a long time and had no doubt that he would go down as one of the great Fed chairmans, maybe the best and I don't know why but I am always skeptical. But prediction markets and Wall street commentators had increasingly tip Wash as Trump's likely choice with the odds rising sharply ahead of the Friday announcement. And he did officially announce it. This is the biggest long ass true social post from your POTUS. Wash served as the Federal Reserve Board from 06 to 2011. So that was during the financial crisis, remember 08. Hence why you know Bitcoin was launched in what was it January of 202009 and since has been a frequent critic of ultra loose monetary policy, calling for a regime change at the Fed, questioning its post crisis balance sheet expansion. I want to talk to Samson Wash has been noticeably more upbeat on the biddy than Powell for repeatedly played down crypto's importance for the US economy in July, the discussion hosted by the Hoover Institution Wash rejected the notion the Bitcoin would weaken the Fed's ability to steer the economy, arguing instead it could act as a form of market discipline. Like a Shaolin monk, Warsh's selection comes as traders have already been repriced and risk assets including the bitty around the prospect of a more hawkish Fed Chair and a threat of a partial US government shut down. Goal advocate Mr. Peter Schiffmeister argued the crash in gold and silver today had nothing to do with the Trump nominating the Kevin Wash to be the Fed Chair. He said that Trump would have not nominated him if he thought he would be a hawk in any way. Even the most hawkish FOMC members are still doves. The nomination will require confirmation by the US Senate. Now what happens if they don't confirm? Do we keep the J Pal where lawmakers are expected to scrutinize Washer's past calls for the tighter policy, the criticism of the Fed pal's approach to regulation and crisis intervention. So yeah, I want to know your guys's thoughts on the guy. Kevin Wash, do you think this is better than the J Pal? Do you think it's just one suit replacing the other with the same agenda? Nothing changes, nothing new under the sun. Three things cannot be long hidden. The sun, the moon. Truth. Let me know. But anyways we shall continue. Next story of the day Broskis Trump says the shutdown deal is a near but markets remain on edge. That's right U.S. senate leaders of the White House said they've reached bipartisan framework to avert partial gunman shutdown but the agreement still needs a clear vote. Good luck with that. Right. Negotiations has stalled over the funding of the Department of Homeland Security Immigration Enforcement current stop gag spending bill set to lapse on Friday. That's actually today which is midnight Eastern time, leaving lawmakers racing to finalize the vote on the back package before the deadline Thursday evening. Trump stated that's the only thing that could slow down the country, another law and damaging government shutdown. So how do I decipher that they're planning a long and drawn out government shutdown. It's called pre framing. So you your unconscious accepts it when the announcement is official and the damage is already done just from him saying this. Hence why the markets are getting decimated. And if you don't understand that, study neuro linguistic programming. They know what they're doing and they're masters of nlp. With that being said, he said he was working hard with Congress to secure the necessary necessary funding. The emerging deal may ease some immediate fears of a prolonged funding lap or lapse after the week of bitcoin plunge to a nine month low. We hit 81 as the bottom spot Bitcoin and Ether ETF seen 1 billion of outflows. Broader risk assets also swung. You can say that again. A mix of the Federal Reserve shutdown geopolitical headlines while safe haven industrial commodities such as gold and silver and oil also saw sharp price moves. Yeah though worst carnage they've ever seen. Granted they've been in price discovery 15 trillion literally wiped out just from gold and silver market cap which is five times larger than the entire crypto market cap today in 24 hours. Now Nick Heather, head of the trading at One IO shared that the bitcoin drop reflected tightening liquidity conditions rather than crypto specific weakness. He said the bitcoin's moved down to the low 80s. Looks far more likely like a liquidity driven adjustment than a loss of conviction and the asset itself. Then we had Arthur Hayes just Blaze pointed to a roughly 300 billion drop of the US liquidity of the recent weeks of the dollar driven largely by the treasury general account arguing the government may be raising cash balances instead of possible spending disruptions and that bitcoin decline was consistent with the tighter dollar conditions. Heather said that the U.S. treasury rebuilds its cash balance risk assets tend to come under pressure and crypto is one of the first to react counter react. We under attack. So I just bought the dip so I can double my stack but still from his internal on chain monitoring, he said, well, wallets remain largely inactive, indicating the larger huddlers have not yet started accumulating. And reinforcing the view that current movers are liquidity driven rather than conviction led now the geopoliticals as they continue. Trump declared a national emergency over Cuba to and signaled Wednesday he was weighing military options against Iran's nuclear and missile programs, keeping geopolitical risks firmly in focus. Yes, continuing to flood the market, creating more fear, uncertainty and doubt so that their agenda of wrecking everything comes into play. Precisely what we're saying. Spot on. And you can see silver right here. Yo it looks like it fell off a cliff down 22% from the high and gold tumbled below 5,000 after achieving 5,700 an ounce and again the largest liquidation event in financial history to my knowledge. 15 trillion being evaporated within 24 hours just from gold and silver. All by design by the way. Clearly they don't want you rich. They want to protect the dollar and anytime an asset starts breaking out against the dollar and price discovery, trump them up. But blame the Dems of course. Gotta point the fingers. Next up Yo Binance, better known as Bance, to convert 1 billions U reserves into the bitty in 30 days that's right, Binance is a shift in its flagship user protection vehicle, known as the Secure Asset Fund, for users we're going to reference as SAFU from stablecoin holdings into Bitcoin over the next 30 days, read the nominating the fund's reserves into the BTC in an open letter to the crypto community. The exchange framed the move as an expression of its conviction that Bitcoin is the core long term asset of the crypto ecosystem. The rather than just a trading product, and said it will rebalance the fund back up to a billion if market volatility drives its value below 800 million. That decision effectively makes the fund more exposed to Bitcoin price swings, raising questions about whether a sharp bitcoin drawdown could weaken the buffer precisely when a major security or insolvency event might require repaid payouts now or rapid payouts, a spokesperson from Banan stated. Through market cycles and uncertainty, we continue investing resources in the broader ecosystem and would consider allocations of the core assets, the spokesperson added. The Binance World or would use treasury reserves to top off the SAFU fund only if it dipped below 800 millions U. Launched back in 2018, funded by a slice of Banan trading fees designed as an emergency pot to reimburse users in extreme cases such as hacks or critical platform failures. I think it's good to have a backup like that because happens all the time including to the top exchanges and if you don't have that, you know how do you make people whole that get screwed or hacked right now? A spokesperson said that these types of losses are covered by the safu. May include losses sustained by users in the rare event of a platform security or other incident. Back In May of 2019, for example, hackers stole 7,000 of the biddy. Today's episode of Bitcoin News Alerts is brought to you by by Progressive Insurance. Do you ever think about switching insurance companies to see if you can save some cash? Progressive makes it easy to see if you can save when you bundle your home and auto policies. Try it@progressive.com Progressive Casualty Insurance Company and affiliates. Potential savings will vary. Not available in all states Kara Here.
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From the Cara golden show if you're not using Ironclad for contracts, you could be leaving millions on the table. Ironclad's AI instantly surfaces what matters renewal dates, pricing terms and obligations so you can act quickly before opportunities slip away. That's why they're trusted by great brands like OpenAI, L', Oreal, Salesforce and so many others. Find the savings hiding in your contracts@ironclad app.com podcast that's ironcladapp.com podcast 40 million.
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At the time exploiting customers and they were made whole through safu and Binance says that no user balances were reduced so they all got their funds back. The Exchange has since promoted the SAFU as a core pillar of trust and risk management, noting in recent communication that if it holds user assets fully. Oh, they say they have all the assets back on a onetoone basis, maintaining the fund as a separate coal wallet reserve for emergencies. Now Binance growing bitcoin exposure there's 648,000 BTC Binance is already one of the industry's biggest holders, as it should be. It's the largest exchange in crypto, which primarily supports trading, liquidity provision and user balances on the Exchange. By moving 1 billion of the SAFU reserves into Bitcoin, the fund would hold roughly 12,000 BTC at the current prices, making it one of the largest single purpose Bitcoin denominated reserve funds in the industry. The spokesperson said that the Biddy would be custodied with the Binance License Clearinghouse entity, which is regulated by the Abu Dhabi Global Market. But anyways, a couple more stories. It's very top of the hour so let's get in it New bank wins conditional U.S. approval from the National Bank New bank received conditional approval from the U S Office of the Comptroller of the Currency to form a national bank, a step that allows the Fintech to offer deposits, lending, credit cards and digital asset custody of the U S. The approval moves the New bank into the bank organization phase during which it must meet capitalization super supervised US Supervisory conditions and secure additional approvals from the Fed fdic. I should say and according to the company, the announcement on Friday the U S Bank will be led by the co founder of Christina Junkwara, the former Central bank of the Brazil President Roberto Campos Nito serving as the Board Chair. Interesting. New bank said it aims to fully capitalize and open the bank within 18 months. You know New bank operates primarily in Brazil, Mexico, Colombia, man serving more than 127 million customers across the countries and according to the company, it was founded in 2013 and has been publicly traded on the New York stock exchange since 2021. The fintech has steadily expanded to digital assets in recent years. The company entered the crypto market in 2022 during the bear after partnering with Paxos to let customers buy, sell and hold crypto directly within the app. At the time, the company also disclosed plans to allocate 1% of its net assets into the BTC. Why so bearish yo? And in March, New bank expanded his crypto lineup in Brazil by adding Cardano, Near Protocol, Cosmos and Algorand to the trading offering, bringing a total number of supported tokens to 20. In September, it announced plans to test the dollar peck hippocain payments linked to the credit card as part of the effort to integrate the digital assets with traditional banking services. New Banks push for the US Banking charter mirrors a broader trend amongst fintech and crypto companies towards regulated banking licensing. Stablecoin Issuer Circle and crypto company Ripple received conditional approval from the OCC in December to establish U.S. national Trust banks. The agency also cleared the conversions of the Bitgo to Bank Trust, Fidelity Digital Assets and Paxo into the National Trust Banks. The London based company Revolt also was just recently valued at 75 billion following a share sale in November. All right fam. Now for our feature story of the day. I'm going to give you the Bear and the Bull. You get both sides of the bitty coin. Worst case scenario, crypto suddenly braced for a massive 1 trillion bitcoin price crash which would obviously send Bitcoin maybe down to 40,000 or something like that. It'd be massive. Now, I personally don't think this would happen, but I like to entertain you at what's possible. This was an article just recently published by Forbes. And then I'm going to hit you with a video of Tim Draper, billionaire saying Bitcoin's going to 10 million and that the US dollar will absolutely die. But first let me give you the bear and then I'll hit you with a bull. Hit you with my best shot. Bitcoin has fallen sharply after the President revealed former Federal Reserve governor Kevin Warsh is the Fed chair nominee. So we already covered that. Right. And as you know, bitcoin did hit a top. It was October 6th. We hit 126, three six days into the government sh down and then we plummeted to 80,000 and right now we're sitting at 83. You know, a few months later here and traders are waiting. What could be the biggest bitcoin price shock? The market is braced for a 40 bitcoin price crash that could see 1 trillion wiped from the combined crypto market. Here's Trump. Don't look so enthusiastic right here. But anyways, key indicators we're watching include the bitcoin support levels around 50,000. So they're projecting a 50, 000 crash which would ultimately mean another 23000 from the current price of 83. This is Gracie Chen, chief executive of the crypto exchange Bitget. She said this in email implying the bitcoin price dropping another 40. We're already down roughly 40 from the top, by the way, so they're saying another 40, which will collectively be an 80 drop to take the bitcoin market cap to 1 trillion. At today's value, I think it's close to 1.7 or 1.75 trillion. So it means another 0.75 trillion being wiped out. Chen said he's watching falling trading volumes for signs of capitulation or rebound and signs that the market is oversold, which could signal stabilization and renewed buying interest. So 80000 is a major psychological level. If we break below it could accelerate the selling pressure once again. Bitcoin and the crypto market, analysts at the Tokyo based Bit bank said and commented on that. Said, should bitcoin decline another leg, lower oversold conditions and perceived value levels may be increasingly attracting the dip buying interest. Meanwhile, the wider crypto market has fallen sharply along with the biddy price pushing it under the 3 trillion level. Yeah, we're significantly below that right now. They say here our worst case scenario assumes a decline to the 1.8 trillion and 2 trillion range with an extension of 162% of the initial downwards momentum in October November. Let me know if you agree or disagree with the analysts. Now for a video from billionaire venture capitalist Tim Draper. Quick 30 second clip. Not only is bitcoin against the dollar a really good bet, but it's you're seeing the dollar fall as fast as you're seeing bitcoin grow. And that combination is going to, you know, it'll hit 250,000, but it's going to hit a million. It's going to hit 10 million on its way to where the dollar is no longer accepted, no longer worth it. And Bitcoin is the 1 source of store of value and currency for the world eventually. Today's episode of Bitcoin News Alerts is brought to you by Progressive Insurance. You chose to hit play on this podcast today. Smart Choice. Make another smart choice with Auto Quote Explorer to compare rates from multiple car insurance companies all at once. Try it@progressive.com Progressive Casualty Insurance Company and affiliates not available in all states or situations. Prices vary based on how you buy.
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Store value currency for the world eventually ultimately pre framing a potential global reserve asset currency. Let me know if you agree disagree with Tim Draper and what are your thoughts on bitcoin potentially losing this 80,000 support and dropping another 40% potentially to $50,000. Holler and let me know and welcome everyone to the Q and A segment of the live stream.
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Yeah, all these years and my future was frozen Now I climb that great big hill of hope for a lunar destination I wake in the morning then I step outside and I take a deep breath My bit is getting me high and I scream from the top of my lungs thanks Satoshi for bitcoin bills Keep stacking screens keep lying everyone yelling nobody trying I don't need blocks from the money I own I just want to know what's real When I'm alone and I say hey, hey. Banks, Banks I said banks, what's going on? What's going on? And I say hey, hey, hey. Banks, Banks. I said, banks it's going on, what's going on? And I tried oh my God, did I try I tried all the time in the field Constitution and I prayed oh my God, did I pray I prayed every single day for a revolution why is fear breaking when we work so long? What's the money on? Yeah, mine's on bitcoin.
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Uhhuh I ain't confused, I was misled Paper prom promises inside my head Fiat dreams where the real life cost every time they print we're the ones that.
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Lost and I found code found truth.
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In math hard cap law no aftermath.
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No spin room no backdoor keys Just.
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Rules that run the same for you.
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And me Fix the money, feel it Click future bill brick by brick no more begging, no more doubt I see the path I'm walking on this is bitcoin going on Sound money when the north noise is gone from the green to the beach at dawn this is bitcoin going on this is bitcoin going on Sound money when the noise is gone from the green to the beach at dawn this is bitcoin going on.
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Max on stage crowd locked in Truth hits hard when it cuts through spin Stacy, frame it proof so clean game did we shop know what I mean? El Salvador said watch this space turn the page Change the base from broken systems to something real you don't believe.
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Just watch the yield Golf green sun orange glow Pickleball laughs Poker slow Coco Max being a fire low time preference thinking higher this is bitcoin going on from the code to the carry on we don't wait we build and move on yeah this is bitcoin going on this is bitcoin going on what's going on? This is bitcoin going on.
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I was.
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Asking what's going on Now I know life is high and good Living in the orange glow I say hey, bitcoin's going on.
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And don't forget to check out bitcoin news alerts.net for the full premium experience with video and to participate in the live stream along with the Q A. And I look forward to seeing you on tomorrow's episode. Hoddle.
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