Podcast Summary: The Wolf Of All Streets – "$118K Bitcoin & $3K Ethereum: Massive Crypto Rally!"
Release Date: July 11, 2025
Host: Scott Melker
In this dynamic episode of The Wolf Of All Streets, host Scott Melker delves deep into the recent explosive rally in the cryptocurrency market, where Bitcoin surged to an unprecedented $118,000 and Ethereum broke the $3,000 mark. Joined by co-host NLW, the duo navigates through the catalysts driving this surge, explores macroeconomic influences, discusses significant political developments related to crypto, and examines intriguing movements within the Bitcoin ecosystem.
1. Introduction to the Massive Crypto Rally
[00:00] The episode kicks off with a celebratory tone as Scott Melker announces Bitcoin's new all-time high of over $118,000 and Ethereum's temporary breach of the $3,000 threshold. Both hosts express excitement and curiosity about the underlying factors propelling these gains.
Scott Melker:
"Bitcoin made a new all time high yesterday and continued up over 118,000 American dollars for one single bitcoin. With ethereum temporarily breaking $3,000." [00:00]
2. Price Action and Market Sentiment
The hosts analyze the immediate price movements, noting that while a 6% increase is substantial, it isn't unprecedented for Bitcoin. They debate the market's reaction, suggesting that investor sentiment is increasingly bullish despite the absence of significant crypto-specific news.
NLW:
"It was there. So basically I'm a profit. There it is. Nailed it, nailed it. Who could have seen a 3 or 4% bitcoin move coming?" [00:59]
Scott Melker:
"I don't know why people are so shocked, but this is the big first story of the day." [02:03]
NLW attributes the rally to a broader "risk-on" sentiment in the markets, rather than isolated crypto events.
3. Bitcoin and Ethereum Treasury Companies
A significant portion of the discussion centers around the emergence of Bitcoin and Ethereum treasury companies. These entities are attracting substantial investments, with BlackRock's spot Ethereum ETF receiving over $300 million in daily inflows.
Scott Melker:
"We see the treasury company demand, we see the ETF demand. As I showed there, it just seems like there's a lot of people that are slowly entering this market." [03:14]
NLW highlights how Bitcoin treasury companies are reinforcing Bitcoin's centrality in the crypto space, serving as robust financial instruments that underpin investor confidence.
NLW:
"This reinforces the sort of centrality of bitcoin. Everyone's on board now at this point with the idea of bitcoin as an incredible sort of asset." [07:24]
4. Macroeconomic Factors: Federal Reserve Policy
The hosts transition to macroeconomic influences, particularly focusing on recent Federal Reserve minutes that reveal a split among policymakers regarding the impact of tariffs on inflation. This uncertainty contributes to market volatility but ultimately supports a "cut mode" stance by the Fed.
Scott Melker:
"Fed minutes show policymakers split on how tariffs might impact inflation." [09:43]
NLW:
"What the market interpreted with that is like, got it. Okay. So the, the contingency here is tariffs. Beyond that, we're in cut mode." [11:52]
This outlook fosters a positive environment for risk assets, including cryptocurrencies, by signaling potential monetary easing.
5. Political Developments: Elon Musk's America Party
A compelling segment covers Elon Musk's announcement of a new political party, the America Party, which pledges support for Bitcoin and critiques fiat currency policies. The discussion touches on the party's potential influence and the broader political landscape's openness to third-party interventions.
Scott Melker:
"Elon Musk says his new political party will support bitcoin. Fiat is hopeless." [12:42]
NLW:
"When it comes back to our part of the conversation that we care about with bitcoin and crypto, it's going to be an interesting, it could be an interesting political force in the coming years." [16:16]
The hosts speculate on the party's potential impact, especially among crypto enthusiasts who align with its anti-inflation and decentralization values.
6. Bitcoin Whale Activity: The $8B Transfer Mystery
One of the most intriguing topics is the revelation of a massive Bitcoin transfer totaling $8 billion, originating from what appears to be dormant wallets dating back 14 years. The mystery deepens as the wallets were stored in outdated formats, raising questions about the identity and intentions behind the move.
Scott Melker:
"Mysterious bitcoin whale moves 8 billion in largest daily transfer of old bitcoin in history." [17:57]
NLW:
"This wallet, they still had access to it that long ago, that's so crazy." [19:07]
The discussion explores the implications of such a large movement, including reassessments of Bitcoin's total supply and the potential for significant market impacts if these funds are activated.
7. Upcoming Crypto Week: Legislative Agendas and Expectations
Looking ahead, the hosts preview the upcoming Crypto Week on Capitol Hill, emphasizing the urgency and significance of the legislative agenda for the crypto industry. They anticipate discussions around regulatory frameworks and potential policy shifts that could shape the future of cryptocurrencies in the U.S.
Scott Melker:
"Crypto week next week. Capital Agenda. It's crypto crunch time for the House." [21:57]
NLW:
"It is very meaningfully on the agenda and not just a lip service kind of way. And I think that that's in and of itself a positive sign." [22:51]
They express optimism that proactive legislative efforts will provide clarity and support for the burgeoning crypto ecosystem.
8. US Treasury Drops Case Against Ethereum Mixer Tornado Cash
The episode concludes with an update on regulatory actions, specifically the U.S. Treasury's decision to drop a case against the Ethereum mixer Tornado Cash. While this signals a positive turn for privacy-centric crypto projects, the ongoing prosecution of Tornado Cash's founder in New York serves as a cautionary note regarding developer liabilities.
Scott Melker:
"Treasury Department drops case over Ethereum mixer Tornado Cash." [23:38]
NLW:
"It's a very positive signal that at least from a broad kind of structural standpoint we're headed in the right direction." [24:11]
The hosts acknowledge the complexity of regulatory landscapes and the importance of continued vigilance to protect the rights of developers and users alike.
Conclusion and Key Takeaways
As the episode wraps up, Scott and NLW reiterate the current bullish sentiment in the crypto markets, attributing it to a confluence of increased institutional demand, favorable macroeconomic indicators, and supportive political developments. They encourage listeners to stay informed and engaged as the industry navigates through these transformative times.
Scott Melker:
"Everybody go enjoy a weekend where Bitcoin's trading at $118,000 and Ethereum's pushing to 3,000. I mean there's nothing bearish here at all. I think it's nothing but tailwinds at the moment." [25:11]
NLW:
"Have a great weekend. We'll see you back for macro Monday." [25:35]
This episode offers a comprehensive analysis of the current state of the crypto market, blending technical insights with broader economic and political contexts. Whether you're a seasoned investor or new to the crypto space, Scott Melker and NLW provide valuable perspectives to help navigate the rapidly evolving landscape.