Podcast Summary: The Wolf Of All Streets

Episode: Bitcoin Primed To Breakout? Fed Rate Cuts & Crypto ETF Boom!

Host: Scott Melker
Date: October 29, 2025

Overview

In this lively episode, Scott Melker explores the state of the crypto markets amid unprecedented institutional momentum, imminent Fed rate cuts, a crowded field of successful new crypto ETFs, and explosive developments in the stablecoin space. Scott provides insights from his recent Money 2020 interview with MicroStrategy’s Michael Saylor, shares thoughts on the evolving market narrative, and is joined by trader Chris (TX West Capital) to break down the technicals and trading sentiment. They discuss whether Bitcoin is truly primed for a historic breakout and what investors should expect in 2025.

Key Discussion Points & Insights

1. Institutional Adoption & Fed Rate Cuts

• Bitcoin's Setup: Scott opens with the argument that Bitcoin is "primed for a breakout on tailwinds that we've never seen before"—notably institutional and government adoption, alongside Fed rate cuts expected to continue into 2025.
  [00:00]
• Market Anticipation: Markets have already priced in these rate cuts, with "99.5% chance" at the next FOMC meeting. The issue now isn't the decision itself but the tone of Jerome Powell's guidance.
  • "It's not going to be about what the Fed decision does. Everybody knows exactly what they're going to do. What it's actually going to be is whether he coughs in the wrong direction or if he rubs his nose..." — Scott Melker [09:38]

2. Reflections from Money 2020 and the Saylor Interview

• Non-Crypto Conference, Crypto Conversation: Scott describes Money 2020 as "the biggest FinTech and payments conference, the biggest in the world...really, really trad fi...generally not crypto." Yet stablecoins dominated the discussion and floor presence (Ripple, Circle, Fireblocks booths were prominent).
  [02:53]
• Saylor’s Evolving Narrative:
  • Saylor moved past "maxi" talking points, focusing instead on innovative, over-collateralized fixed income products (e.g., STRC), offering yields like 10% versus 2-3% in money markets.
  • Notably, Saylor is "a little more open minded and certainly starting to evolve," showing openness to altcoins and other market dynamics.
  • "If we had a conversation right now about altcoins and the rest of the market, you would find my opinion has changed and that it would be very constructive."—Michael Saylor, paraphrased by Scott [06:15]
• Audience Reaction: The expectation was that Saylor would "go up there and just scream about buying bitcoin," but he instead discussed broader financial products.

3. Stock Markets & Macro Confusion

• S&P at All-Time Highs: The S&P index is "100 points away from 7,000" and continues making all-time highs, but investor sentiment is split—half expect doom, half expect endless gains.
  [08:00]
• Fed Strategy: Reiteration that the true focus will be on the Fed's messaging about future cuts and liquidity, rather than the rate move itself.

4. ETF Mania: Success and Changing Appetite

• Boom in Crypto ETFs:
  • Multiple new ETFs launched, including the Bitwise Solana Staking ETF (B SOL) and an Ethereum-HBAR ETF.
  • "B SOL ETF sees $69.5 million in net inflows on its first day [...] set a new NYSE record today—number one in trading volume across all 850 ETF debuts in 2025." [13:28]
  • “There is still a thirst for this.” — Scott Melker
• Implications: Surpassing other launches shows strong institutional and retail demand, validating the approval and listing of even non-Bitcoin crypto products.

5. Options Expiry and Volatility

• Spooky Season:
  • Bitcoin options worth $31 billion expiring on Halloween, often a trigger for volatility but also preceding upward moves.
  • "We tend to see some volatility when we have the expiry. But you also kind of see price suppression very often in the week leading up to it." [15:50]

6. Stablecoin Supremacy

• Explosive Growth and Impact:
  • Tether now the 17th largest holder of U.S. debt.
  • "Stable coins are eating the financial system... volumes were $46 trillion last year—three times the Visa network." [18:30]
  • Emphasizes stablecoins as the “killer app” for crypto, but also the paradox: they enable "hyper-dollarization," the very force Bitcoiners rage against.
• Western Union Goes Stable:
  • Western Union will launch USDPT, a stablecoin on Solana in 2026.
  • "Western Union is like the oldest predatory middleman payments company on the planet. ... But they're launching a stablecoin, which means they saw what happened to Kodak and Blockbuster and they don't want to be those guys." — Scott Melker [21:15]
• Visa Expands Stablecoins:
  • Visa to expand support across four blockchains, a survival move as stablecoin volumes already exceed Visa's annual network traffic.
  • Major payments players (Stripe, Circle) are each developing their own stablecoin solutions.

7. Regulatory & Political Turmoil

• The CZ/Trump Pardon Fiasco:
  • Democratic lawmakers, led by Elizabeth Warren, criticize Trump's pardon for CZ (Binance founder) after a guilty plea related to Bank Secrecy Act violations.
  • Scott clarifies that CZ pled "not to money laundering but for causing Binance to violate" compliance—not criminal laundering.
  • CZ reportedly considering a defamation lawsuit against Warren for mischaracterizing the case.
  • "She's so unlikable...she can't even make a point by telling the truth." — Scott Melker [25:28]
• Global Bitcoin Reserve Movements:
  • Germany’s AfD party introduced a motion for a strategic Bitcoin reserve.
  • French lawmakers to review a bill to ban CBDCs and promote Bitcoin and stablecoin reserves.
  • Australia’s financial regulator issues crypto guidance: Bitcoin and some NFTs aren’t financial products, but stablecoins are.

8. Market Cycles & Trader Psychology

• Bearish Sentiment in Bull Market:
  • Despite massive price increases ("Bitcoin go from $17,000 up to $126,000"), many investors have lost money—due to lack of altcoin 'season', missed IPO timing on crypto companies, and the largest liquidation event in history.
  • "Almost everybody has found a creative way to lose a shit ton of money in this bull market again." — Scott Melker [26:58]
• Trading Mindset:
  • Chris from TX West Capital joins to discuss how "emotions—not market manipulation—are what cause most people to lose money."
  • Market volatility is amplified by lack of reliable government data during a shutdown.
  • "Your risk management becomes the most important thing you’re doing out there...and your entry is the third most important." — Chris [39:58]

Technical Analysis & Trading Setups

Segment with Chris, TX West Capital
[27:41-43:53]

• Bitcoin:
  • Breaking above $116,114 on Coinbase is a bullish signal; near-term technical targets: $119,070 and $127,140, with a larger breakout target of $133,000.
  • “If we hit these targets, the low is all but guaranteed to be in. You should be definitively long.” — Chris [36:30]
• Alts:
  • Rose (ROSE): Looking for breakout above $0.01717, with upside targets $0.01982, then $0.02176, then structural up to $0.02712.
  • CRV: Break above $0.5709 targets $0.7757 and $0.8450.
  • ZK: Impulsive breakout above $0.035 could bring move to $0.04, then $0.0508, and eventually $0.06794.
• Trading Wisdom:
  • "You can't be scared to lose money if you're trading because you're going to lose it from time to time...Strike rate isn’t the most important thing. It’s your risk-adjusted return." — Chris [39:08-39:58]

Notable Quotes & Memorable Moments

• On Saylor and Altcoins:
  • "You would find my opinion has changed and that it would be very constructive." — Michael Saylor (paraphrased), [06:15]
• On Market Sentiment:
  • "Everybody is losing money in a bull market. At the end of the day, it's really just, they're losing the battle with themselves, with their emotion." — Chris [29:10, 30:28]
• On Stablecoins:
  • "Stable coins are eating the financial system...three times the Visa network." — Scott [18:30]
  • "Western Union... they saw what happened to Kodak and Blockbuster and they don't want to be those guys." — Scott [21:15]
• On Rate Cuts:
  • "Markets are pricing in a 99.5% chance of a Fed rate cut... What was all that one in a million talk? So you're saying there's a chance." — Scott [09:38]
• On Trading Reality:
  • "Your risk management becomes the most important thing you’re doing out there...your entry is the third most important." — Chris [39:58]
  • "It's like Sex Panther, you know, 60% of the time, it works every time." — Scott (on trading) [41:09]

Important Timestamps

• [02:53] — Perspectives from Money 2020, discussion with Saylor
• [09:38] — Fed rate cuts, market anticipation, and impact
• [13:28] — Crypto ETF launches and initial investor response
• [21:15] — Western Union stablecoin announcement
• [25:28] — Political chaos: CZ pardon and Elizabeth Warren’s response
• [26:58] — Suffering losses in a bull market
• [27:41] — Chris (TX West Capital) joins: technicals and trading psychology
• [36:30] — Altcoin technical targets and trade management
• [39:58] — Trading mindset, risk management
• [41:09] — On the unpredictable nature of trading (Sex Panther quote)

Conclusion

Tone: Incisive, energetic, at times irreverent and candid

Scott Melker and Chris present a multi-faceted look at the rapidly evolving crypto landscape—from the institutional tailwinds, to pivotal regulatory standoffs, to the ongoing ETF boom and stablecoin revolution. The episode is rich with market insight, technical analysis, and cautionary wisdom on trading psychology, capturing both the excitement and the pitfalls of this "new era" in Bitcoin and crypto. Whether you’re locked into the charts or watching from afar, this episode is essential listening for anyone seeking to understand the stories and psychology shaping the crypto market in late 2025.