The Wolf Of All Streets - Bitcoin Dumps Below $90K As Market Sell Off Continues! Where's The Bottom?

Episode Date: November 18, 2025

Bitcoin is crashing back into bear-market territory, erasing all of 2025’s gains as more than $1.1B in liquidations, massive outflows from digital-asset funds, and deepening global fear grip the markets. Stocks are sliding worldwide, AI-bubble warnings are growing louder, Barclays says risk sentiment is overheating, and Japan’s tightening bond market is adding fresh macro pressure.

Bitcoin dropped below $90,000 American dollars overnight, hitting a low right around $89,000. The bear market has commenced, and we're in a phase where it seemingly is nothing but bad news for the market. People putting out analysis about price targets of $55,000. The S&P is going to apparently retrace 50%, and it's all over. some of us just automatically buy the dip using a certain tool that we often talk about on Tuesdays and are pretty excited to see this price action because we know where this asset and asset class is going long term. But we're going to discuss all of that right now with myself, Andrew Tillman and Matt.

Let's go. Good morning, everybody, and welcome to hell. Hades is happy to see you, chilling here with Satan. We got Matt, Andrew, and Tillman. Man, it is disgusting out there. And add into some market volatility and a dip, the fact that cloud flare is down and people can't go bitch on Twitter. Chat TPT isn't working. People can't write.

love letters to their wives anymore. It's pure carnage out there. I actually, when I went live, I got like 17 warnings that we were not live on X from every one of your things in front of my entire screen. It's going really great, I would say, so far. So let's start here, right? Obviously, we got S&P 500 futures drop for a fourth day as tech share slump. Bitcoin breaks below 90,000. Seems we're in a bit of an everything correction right now, and Bitcoin's obviously been leading that to some degree. Anybody who would like to, Matt, you know, you're the fresh face second time here, which means we're putting you on the spot.

Why is Bitcoin dead and where is the bottom exactly to the dollar? Well, I think like everything's dead right now. I mean, Bitcoin. Oh, my own view. Okay. Okay. Yeah, everything's dead right now. That's the thing you got, you know, meta's down, all the tech stocks down.

Navidia is down 10%, Oracle's down 21%. Gold is down 10% from earlier highs. Bitcoin just goes up the most when all these things rise too. And so it's going to have the most volatility on the way down sometimes as well. So there's no news I'm hearing that's significant as to long-term value trends. It's just everything is getting slaughtered right now. So that's how I'm looking at it right now. I wrote a newsletter yesterday about all of the comparisons I'm hearing between 2022 and 2025,

like people saying is as bad as it's been, all coins are dead, something's about to break. Talk about like recency bias. 2022, FTX, you know, everything else, Voyager, Celsius, Luna. I mean, this is nothing like that. We literally have nothing but good news and price just happens to be down. and people are acting like the world has literally ended for the industry. Andrew, I thought you're about to jump in. Tell him, hopefully you can hear.

I know you can hear me. Well, in, in 2022, we still had Gary Gensler calling crypto scams and fraudsters and hucksters, literally on national TV once a week. The flip side now is we have, you know, the likes of Black Rock and Bitwise and Fidelity, talking about Bitcoin and Crypto at large being a meaningful part of the over. overall financial markets. So a bit of a shift there. In terms of the current, you know, price action across, you know, equities and crypto, just a reminder that in April, we were down at like 4,500 for the S&P. So a bit of a, you know, a move down, you know, a small correction.

I don't know, probably reasonably expected from time to time. We also are in right about that that starting point where people are looking at, you know, how am I going to handle my lien slash taxes here at the end of the year? How should I handle some of that? So that's another little wrinkle associated with selling right at this point. I always go to, you know, ETF action whenever we're seeing a move to the downside. What is staying afloat? Is there a you know, a sort of in-kind move to the downside in terms of, you know, people selling certain ETFs versus the overall market, because that's where the lion's share of all asset flows really are, are ETFs. And you're just, again, you're just not seeing meaningful moves

out of certain asset classes. Sure, you're seeing some moves in the crypto space. The Bitcoin ETFs, you know, have seen some outflows while at the same time you've got the new Solana ETFs have seen huge inflows. The new XRP ETF, huge inflows. So it's, you know, a little bit of moving around and it's just par for the course whenever you go straight up for let's call it seven months. Yeah, I think if you if you look at blow off, tops this is not a blow off top this is a pullback on a nice bull cycle you know these the pullbacks are pretty obvious I mean we had two prior to this that were 30 plus percent this hadn't even gotten to those levels it's just it seems like a lot because number one we all thought when

it broke 126 again that it was going you know 135 145 expectations are large part of it but also the percentage that bitcoin is going to have to you know move or the dollars associated with those percentages they're always going to be climbing i mean when bitcoin is trading at 850 000 the drops will be a hundred thousand you know in in in dollar amount why well because volatility is a feature of this market that is proven um absolutely proven and there are actually, you know, graphs that you can look at, the Bitcoin volatility graph. And it's going down over time. It does trend downward because the market is maturing. But that's actually a good thing. It shows more money coming to the market. But it's still wildly more volatile than most other

asset classes. And yet we complain when it's volatile. You know, these are the opportunities where you buy the dips. And these are the reasons why you don't all. ever in bitcoin specifically but you know crypto specifically but really any investment you never smash by at one price level that's that's foolish that's you know if you just talk to any mathematician who isn't even an investor and you give them this problem to solve there's a price that fluctuates highly in this time frame how do i solve the how do i you know de-risk the volatility in that time frame and he will tell you with no trading experience the mathematical way to do that is to separate your purchases and get

price exposure at as many points on that line as possible and that's what the old-fashioned dollar cost average boring kind of way is but there's a lot more sophistication that you can add to dollar cost averaging dollar cost averages averaging is really just saying hey i'm going to separate my money and and buy a cost across a cost curve instead of a point but then you say okay well when do i buy across that cost curve and i think these opportunities for people who play that game and and understand those strategies are our gold mine opportunities like these dips are when my favorite asset that has not changed in character has more infrastructure being built on it more liquidity rails i mean we're dipping to three trillion

Like, I remember when we broke a trillion, like it was the end of the world, like Bitcoin had arrived. Now we're three trillion. And, you know, the asset class is only getting integrated more and more each day. And what does that integration look like? Well, a lot of it looks like defy offering yield to institutions and to exchanges. Go look at Coinbase. If you haven't looked at any of the things they're offering it, they're all yield-based. They're lending, they're borrowing, they're getting IP.

ICO initial offerings, there are all these things that point to a very bright future as it pertains to product development and, you know, access. And ease of access, I think, is the next real leg forward for this industry, whereby which people are getting yield on deposits. And they are not having to do any of the defy. It's all being done behind the curtain by registered exchanges that are managing these things for their customers and that's i think you know indicative of a massive adoption curve i mean just a massive adoption curve and with an adoption curve like that comes a lot of money and growth right so i just see nothing but opportunity honestly these dips are yeah these are the dips these are the dips since the FTX lows right so on this run up we got

22, 20, 21, 21%, 21%, 33, 32, and currently at 29.39%. So that's my point. We're shallower than the previous two years. Don't even make me go back to other, don't even make me go back to other goal markets where we got, you know, we had more of all to you, 55% dip in the last bowl market, 32. I mean, this is pretty standard. I will tell you what's not standard for the people who care, which is that we obviously have, you know, the weekly losing the 50s.

which has never happened in a bull market so like there are a lot of people who view that as the kind of line uh i've got this line marked right here which is 88804 i've been literally yelling about that not thinking you would actually get there for being intellectually honest but that's where my biggest bids are so overnight i filled about 70% of the bids i had in that area outside of my arch public uh these are the ones i've had there since april literally it broke it up in April or March, I think it broke up. Yeah, broke up in April and I was like maybe that line gets retested. What do we, what do we think Black Rock's reps are telling Harvard about the price of Bitcoin? Yeah, are they telling them the story? Are they telling them the story that,

oh, there's a good chance it's going to do a 60% dip versus a 30% dip? Probably not. They probably are singing the song that price action has changed. The four year cycle is now garbage. This is an institutional asset like anything else with significantly larger upside. And that's why Harvard buys a lot more. That's the narrative that's being preached right now. So, you know, price action has materially changed in a big way. Also, we can go back to the fact that in 2023 and 24, Bitcoin was up, you know, 125 to 170 percent between those two years each. And so, okay, so we're down what 2% year to date or 3% year to date. I don't know, kind of like that average over a three year period. It's not bad. Pretty good stuff.

Yeah, I mean, speaking of Larry Fink, I was at a conference last week, retirement industry trust association, you know, how like- Rager, that's basically, how institutional is that? And just to give you, they literally played Larry Fink's interview on 60 minutes. And they played. played that little clip about how he and Jamie Diamond used to be talking crap about crypto and challenged him on it. And now he's singing the tune of this to give you, you know, 5% of your, you know, portfolio. And so, um, so, you know, the last dominoes in terms of adoption is like, frankly, that type of industry association. Because everyone's there's like, we watch 60 minutes, you know.

I mean, this is like the last group you need to win over. And so, um, so that's where I'm like with the price of where things are out with Bitcoin. in particular is you're almost trying to find, like, well, what is there there? Like, what's there? And I mentioned some of the tech and AI stocks that have had, you know, that have also had great runs recently that are coming back down in value. And I think a lot of people view crypto as a future asset with a lot of room for growth, much like they do the AI and tech stocks.

Those have had a similar price correction. Gold, the store of value, the front for, you know, centuries, you know, is all. also down from all time size. A lot of people are buying Bitcoin as a store of value play. So those, those, you know, that philosophy of why do I own this asset in some ways is penetrating these other, these other assets that we know. And so I don't think it's a Bitcoin thing or a crypto thing necessarily. It's just this sentiment right now in the market.

And I think two of those things. And that's what I'm trying to understand like what's there. There's nothing there. That means that's a great opportunity to buy. is everyone's fearful about nothing. What is it? If there was a regulatory thing, legislative. Yeah, we got Larry Fink in 60 minutes now.

I mean, Donald Trump was on 60 minutes two weeks ago saying that, you know, his number one priority is to see crypto go up or to become the crypto capital of the world or whatever he said, something about McDonald's. I don't know, but it's the, I just don't understand the like bare market comparisons of the past. as I said at the beginning, it's just like we were dead then. The industry could have died. Well, I think that there's a ripe opportunity for Wall Street, honestly, with this market. This is the first market bull cycle that Wall Street has gotten to really participate in.

And that presents itself a tremendous amount of liquidity grab opportunities. And you talk about how degenerate our spaces and how everyone just wants to put these crazy leverage trades on 200 x 300 x 100 x 50 i mean that's like common practice now to the that you know in these shakeouts i think the last one that we had the the the dip essentially that started this um it was an 18 billion dollar liquidity grab i mean that's a lot of money to grab that that's an incentive to make all the technical traders go why is the chart lying to me you know The chart means nothing, right? The liquidity that flows in and out of the markets from Wall Street can move this market

wherever they want it to go. And so when they see on the board a ton of people betting and thinking that they know where the market's going, they know that if they drive the price below that, and 100,000 was that level. And I even said this like months ago when we broke it, I was like, don't be so. surprise if this becomes the key level where they won't let us decide where this market's going. And that's exactly what they're doing. And it creates a buying zone on leverage that accelerates their opportunity to stack sats in a very short period of time. And that's what they need

because they're trying to stack a lot of sats in a very short period of time. How do you do that? Well, you shake the market as hard as you can shake it. You need every orange to fall off that tree. so shake the trunk right but matt literally what you do is have self-directed investment accounts right so like in theory yes we can have people that can trade tax free using arch public and such and follow these tight moves and do all of that in there because it's a great advantage but 90% of people who are holding IRAs or 401ks are literally just buying stuff forever and waiting until retirement doesn't that align very well with buying something that's down 30%. Yeah, absolutely. I mean, entry point buying right is like the first thing. But for most people

in their retirement account, they're thinking of, you know, this asset in 10 years, 20 years. What's that value that I'm going to have that I can live off of in retirement? You know, I can always make money trading through that time cycle too. But what's the overall curve of that or the overall like growth of that asset that I believe in? And so yeah, I mean, that's what we you know our clients do and we have hundreds of millions of clients or hundreds of millions of dollars in uh crypto and clients Roth IRAs growing totally tax free so um so like you know it's interesting like the panic you know like our phones don't ring like nobody's like calling us or like what's going on right they have a long term perspective on it and uh which is great because

that's that's what we do too and even when I started doing this you know I bought Bitcoin in my retirement account in 2017, right? And that was 2,500 per BTC back then. And I just kind of did it, Frank, because I had a lot of early clients doing it, asking me how the heck to do it. And I didn't know, so I had to go figure it out and do it myself. At first, I was the test case. It was like the best research project ever. And so, but then I came back, taught our clients how to do it. But like, you know, if you think of like all the cycles since then, and I know you guys mentioned some of the news and just the different things, I mean, regulatory stuff, IRS, enforcement, Gensler, the Biden administration, like, it was just like, and definitely sorting out some

frauds and companies. It's interesting. One of the companies we talked to working with was FTX and Voyager. Dodge those bullets, glad I didn't work with those companies. And so, so now we're in this environment where it's like, there's legislation that comes out this last year you've got a president all on board and wanting to make crypto capital world and so so these types of cycles are just you know for those of us have been around for a while it's just like okay i just don't there's nothing that worries me really and that's why i think a lot of our clients are um if anything just buying and not really worried about the long-term future because there's nothing there in the news there's nothing discouraging um from an underlying like standpoint of

the asset i mean andrew here Here's your guy. Hey, there he is. Look at his hair. He is your hair antithesis. Yeah, he, listen, I do want to know what goes into that because there are moments where it's even higher than it is right there. Do you think they go with his predictions or like his bull-

Yeah, yeah. It was two weeks ago that he said Ethereum will be like 10 grand by the end of the year. There was something I saw, you know, either yesterday or the day before. the picture of him like he was going on some show or something his hair was like really slick back I'm like man they did Tom Lee dirty on that that photo right there looks good but he says we're close to a bottom and the Winkle vize you know went on Twitter which is dead where I would share the tweet but they said that this is last last chance to buy Bitcoin under $90,000 a classic meme in the crypto Twitter community but a lot of people with a lot of money calling bottoms here

Well, there are, I'm going to always be a Tom Lee sort of believer, you know, in terms of timing, you know, whether or not his predictions from a timing standpoint are the real deal. That's a different discussion, but we always get there. We literally always get there on his predictions. And oh, by the way, as it relates to just markets in general, the idea of being unrepentantly sort of bullish has worked for the better part of, let's call it, I don't know, 35, 40 years. So describing that to crypto and crypto now being in the swim lane that is larger market structures, I just, I think he's on the right path with this stuff. You know, does Ethereum go to some insane number that he's talking about? Well, you know, to be fair, he's talking his book a little bit there. but at the same thing as just saying he believes in it. I mean, if you have a book, you believe in it.

So, I mean, talk, yeah, I don't, I think he's a genius. That notion is funny. It's like, should I talk somebody else's book and not talking about something like that? I love that. Well, if I told you not what to do and I was investing the other way, what does that say? That's exactly right. You're damned if you do, kind of damned if you don't. But Ethereum, you know, obviously has, I think, made it through the deep.

risking phase. I think it's one of the big three, if you will. And, you know, I think it's got a bright futures from a tokenization of assets perspective. It's just about timing, like Andrew said. It's like, what time period do you want to bet on you being right in? I think the long-term time period, I think what's going on with Larry Fink and everything that we just discussed, I think something that's monumental that I don't hear a lot of people talking about right now that I just want to echo again because I'm a huge fan. Brian Armstrong continues to wow me in terms of what he's providing from the platform perspective. And if you follow him on X, he's been putting a lot of messages out over the last week and a half since he's launched this new ICO. Well, over a year ago,

I remember on a podcast with Andrew and Scott, we were talking about the potential of the new VC wave coming back into crypto and seeing the evidence of that. And then we thought, well, when those, you know, companies start going public, when crypto is represented as something that is a public security that people can access, that could be something that is tremendous for the industry and really brings life back into the markets and brings liquidity and vigor and excitement and you know the whole like texas exchange that's open 24-7s coming everything's going to be blah blah blah well brian's just skipping all that and going well forget that we're just going to launch iCOs again and um you know we're going to democratize the access his whole mantra this whole

message i think today i think it did go live yeah and i think and i hope it's successful as heck because I think that could be a really interesting path forward for us in the short term to see a lot of companies go, oh, I can raise money through an ICO and it actually be legitimized by Coinbase and, you know, the offering be recognized by the public in a positive man. Like if that switch gets flipped, that's a massive opportunity for us that we, I don't think the market has any, any way not to press into it's just too big of an opportunity to pass up it's it proved itself

back in 2017 to be an exceptionally effective way to raise capital for a part of the picture right or whatever you want to call it share token coin whatever well it's the reason why crypto exchanges have a significant leg up in terms of the future versus you know regular investment banks right So regular investment banks, everything's pretty siloed, whereas crypto exchanges like Coinbase or Crackin or any of them that you want to talk about, they have the ability to do everything all in one space, right? Market makers, exchange, wealth management, they're lending money, generating yields, doing IPO type of activities. So investment banking type of activities. that's everything all under one shingles, so to speak, whereas the traditional markets, you've got the NASDAQ,

you've got ICE and all the exchanges there, you've got Goldman Sachs, Morgan, and J.P. Morgan. You've got BlackRock as an asset manager. It's all over the place, right? Now, they do a good job while working together, but everybody's trying to make their own little buck off of one big transaction, right? Whereas Coinbase is like, hey, just do everything here, you know. Well, and to note, everything that they're doing is customer-centric.

Like, I can go on there. I can lend money for 8% interest. I can borrow money. I can get USDC just a money market yield account at 4.25. All the regular banks could do that. They just don't, right? That's the point. They just don't.

And they haven't because it's all big. been, you know, they've all been doing the same thing. I don't, whatever you want to call that, there's words for it that I won't use. But, you know, when everyone does the same thing in an industry and the price stays at a certain level where there's a certain amount of profit that's guaranteed to all participants, that's not a free market, right? A free market is like, hey, if I can figure out how to deliver a better product to you at a lower cost, and I can deliver you savings and pass that to you, and you're still getting a superior product, then I have the right to do that.

And I have the right to put you out of business. That's the American way. That's what free markets are. And that's what Coinbase is doing exceptionally aggressively. And it wouldn't surprise. I mean, this is such a big deal in my eyes. But this outage, I mean, it's just like, it's comical that this is the day that it's launching. But, you know, this is something that if is successful, which I think Brian,

Armstrong and the gang over at Coinbase look he's seen what it's this is they don't even want me talking about it on this podcast right yeah we've been taking off there no but it you know it's it's one of those things that could lead to an entire revolution of how companies go public overnight like blockbuster to Netflix like oh why would I go to the store I can download it on my computer that it will happen that quickly with this type of shift because if I have if I if you do it through Coinbase on your phone and you go oh yeah I want to participate in that IPO they're offering it to people who have never been offered that type of access before and that was Brian's message this whole last couple weeks which was like hey we're tearing down the walls of access well if you really if he's really doing it for those reasons and that's a pure motive he will be successful and there will be a lot of lot of companies that want to follow in these footsteps in my opinion yeah well you can just see like the amount of companies that are public now right i mean there was 8 000 plus publicly traded companies back in the 90s and what do we got now there's like less than half of that

wow i didn't know that is the economy grown 87% of companies with 100 million or more of revenue are privately held only 13% of companies with 100 million or more revenue are actually publicly traded. And so they're definitely on to something because companies, like they want to raise capital. They want to grow, but they've been going the private equity route or other routes. They don't want to go to the public markets in the old traditional way anymore.

So I definitely think they're onto something. Coinbase is on sale too, by the way. Well, it's it's the Russ Hanuman clip. No, no, no, no, no, no, no. Revenue. We don't want to do revenue. We don't want to make any revenue. We don't want to make any revenue.

that it's pre-revenue pre-revenue then you got to do more revenue and then you got to do more you'll never do enough you'll never do enough um yeah it's it's uh the the public markets have gone through um you know frankly it's been a it's been a grave graveyard uh for the 15 years um something that i always found compelling even when they did it now four or five years ago when coinbase went public they did direct listing yeah which the direct listing is affected saying, hey, Goldman, J.P. Morgan and Morgan Stanley, we don't owe you anything. You didn't help us with this. We did it ourselves. So we don't owe you anything. No new shares. Yeah. And then people who don't understand are like the insiders are dumping. And you have to tell them there's no shares to sell unless they put those up for sale. That's what a direct listing is, not an IPO. I still hear people refer to the Coinbase IPO. Yeah. Yeah.

So it's, you know, they've, they've been, you know, whatever they've got going on over there. Bottom line, it works and 125 million users, customers, clients, whatever moniker you want to use. And they're doing some extraordinary stuff and they're doing it all under, you know, one heading. And they've been thoughtful about it all along the way. And so, you know, I know there's a, there's a reasonable portion of crypto Twitter that hates Coinbase, but get over yourself. They're not going anywhere. And they're just going to get bigger, bigger, bigger, bigger. Should we be concerned, though, that this is what we're getting from the White House?

Is this a signal? Yes, he's not going to be a Donald conference or something, but like, read the room, bro. Yeah. Yeah, we want to lead in crypto, but we also. We also haven't really figured out crypto means. This is how we will be leading in crypto is. Would you like fries with that? tokenizing,

tokenizing your fries. I mean, Matt, I see you're taking notes and sitting there very calmly. What do you think in here? Well, I see my, it's just like be greedy when others are fearful.

I mean, they're like kind of like sum up where we're sitting right now is that's the, you know, Warren Buffett mantra. But I think especially when the fear is intangible to some reality of what's happening that would, that would like fundamentally affect price so um actually that's what i literally wrote down scott yeah i mean i wrote that down that's what it is i was like i was like he had an idea

i saw it in real time i had an idea which is to have my camera not turn off every 30 minutes i can't yeah we thought it was them to shutting us down because we were talking about something you know not cloud player it's user error and settings as we transition all my equipment to another location Well, I would tell the thing that I would look at for Coinbase is that they're file, they're going to be a bank, right? I think that's a foregone conclusion. If they are a bank, what interesting things will they do to push the boundaries of banking? And I know that they have an incentive right now for people to deposit, you know, crypto or cash and keep it there. and you earn extra APY or APR if you keep it there for, excuse me, two years.

So they're definitely trying to be a depository more than just the transactional throughput. That's obvious to me based upon their offerings and their incentives. What would be really interesting to me is if they could get corporations to look at them as a bank. Once they get their banking charter and the corporations, what do they want? Well, they'd love to have a higher insurance rate on their cash coverage, right? The FDIC, what does it cover, like 200 grand or 250K, if you could get a corporate account at Coinbase where your cash account is giving you a 4.25% APY, and at the same time, you're insured with, you know, in your Coinbase insurance product, XYZ, self-insured,

essentially through a captive policy you could you could essentially raise those limits to a considerable amount and attract a ton of deposits and that would be that would put them square as the juggernaut in the banking industry straight out of the gate so i'm just watching i think some of these innovators now that the the administration is pro crypto they're not holding back they're just letting it rip and absolutely you know taking it taking it to the streets and you'll get giving it to the people the way they want it. That's awesome. Taking it to the streets.

Yeah, you got me with that one. That's a good one. I should never do that on this show ever again. Yeah, so the question then I think becomes for the market specifically, is there an expectation that we are really going into the Mike McGlone Great Depression here that markets are going to turn over? I mean, there was an article Goldman saying that, you know, Invidia and AI are priced to perfection for three years and any glitch.

There's no, they can't go up. Basically, I mean, there's a lot of general bearishness, which I think is just worth quickly discussing before, you know, we let Matt go. Listen, doom and gloom sells. CNBC has more viewers in desperate, difficult times. Nobody wants to watch when we're just going, you know, slowly higher for months and years on end. And so, you know, doom and gloom cells, right?

So the headlines are more fun when it's, oh, no, things are crashing. Yeah, you know, depression, recession. I don't think we're anywhere near any of that stuff. I think at the same time, you know, we're just entering the whole AI new version of innovation on the tech side. It's just beginning as well. that that's got a long long long really long tail on it doesn't mean that there's not going to be corrections 10 to 20 30 percent along the way but I've been around long enough to know that you know effectively every dip for the entirety of my life has been for buying like think about

that I mean that is objectively true across the board with equity markets and to a greater extent. I started dollar cost averaging into SPY in like 2008 at basically the dead top because I finally had some money again. And it took me a good, what, eight or nine years for all of those buys for that entire time to be in profit. But last I checked, they're all up many Xs now. That's why I think it's just hilarious when you go and people are so emotional. Why would you buy it 90 if it's going to 75?

I'm like, dude, 120 is a good buy price for Bitcoin, in my humble opinion. If you aren't selling, why are people obsessing over the paper value of a portfolio of assets that they weren't going to sell ever, and they certainly didn't sell at 125, but now they're mad that it's 90, but even I just like, I understand the mental gymnastics. I've been there, but like, you're not going to sell the top and you're not going to buy the bottom well you know when have you ever taken all of your portfolio and sold it at once nobody's not a thing so don't compare yourself to that if you are at the conference that matt was at with the retirees and aspiring alcohol last last week um listen if they're if they're

playing it was reader by the way that's i think up on that it was really at They're playing Jimmy Brothers as well. Anyways, you know, if they're playing, you know, clips of Fink and Diamond talking about crypto, I mean, dude, I'm sorry, those people have all the money. And what do they do with it? They put more in every month, more in every month, more in every month. So you may have dips that approach 30%, hey, maybe 35, 37%. But that's where it's going to. going to stop you know i mean that is where it's going to stop um to know who the bob is

to the point like you know larry and jamie aren't in it to get back to 120 okay back to 120 they're in it at 500 600 700 700 800 so to your points got 120 is a pretty great entry point uh no matter how you slice it i'll never forget the last, you know, bare market. Man, did I get dunked on? Like, you know, price went to 69. And I started sharing every buy. And it was like 58, 53, 45. And people were like, you're insane. 58 is nuts. I'm like, I want to do what Sailor does. I'm not going to try to outthink him. But all the way down to 17. Last I checked, 58 was a really good buy for Bitcoin. Could I have theoretically done better with a crystal ball or now in hindsight? Yeah, those are really good buys.

the problem is that I was transparently buying them on Voyager. Yeah, oops. So that's gone. They were Canadians, right? You shouldn't have, you know. No, they're not Canadians. That wasn't even bigger. Voyager was Canadian, no.

Is that they're American and registered in Canada to... There you go. For the stock, that's even worse. Yeah, the price, I think your reaction should tell you a lot in my opinion. And so, you know, earlier Matt said, you know, be fearful when people are greedy, be greedy when people are fearful. It's kind of the counterintuitive thing.

But if your reaction right now to the price of Bitcoin is it going down to 90, in my opinion, not financial advice, you, in my opinion, are by definition over allocated because you have gotten to a point where you don't have cash. You don't see this as a buying opportunity. you see this as your stack dropping in price. And so, you know, if you are over-allocated at any point in any asset in your life, my dad used to tell me this as a young man. He'd say, sell until you can sleep, which means, like, you shouldn't be stressed.

You're over-allocated if you're stressed out about a dip in your portfolio. And you should always be keeping, you know, the proverbial some powder dry for these types of moments and these opportunities. Why? Because what we just said, no one knows where the market's going. And that's the rule of investing and is really knowing that you own something that is the money that you're putting in Bitcoin, the way I think you should look at it is what other asset for this portion of my portfolio offers me better asymmetric opportunity, right? Because that's really the question is like, if you're not going to put it in Bitcoin, where is it going? you know some would argue including larry think that up to five percent of your portfolio should be into bitcoin well if five percent your portfolio is in bitcoin and it goes down 10 percent you're not worried about a point five percent dip in your portfolio i'm sorry that that's not so your reaction should tell you if you are extremely fearful right now it means that you were at one point extremely greedy, you over-allocated. If you are extremely greedy right now, it means you didn't

over-allocate. You have capital now to allocate at these prices. And guess what? The most prudent people will tell you, don't over-allocate here. Don't try to catch the falling knife. It'll bleed. It'll cut you every single time. And I think everybody tries to like, you know, I think time the market and time when to buy and when to sell right if you think of like the hour you know like the 12 and the six on the clock you know 12 being the high six being the low everybody tries to buy it the six you know which is which is hard to find it's it's hard to see that but like but you can see seven and eight you know it's a little easier to see that when it's coming back up and um and i think that's like a lot of people said like you a lot of people can make was kind of

like, you know, a vice got from a smart trader was like, you can make a lot of money buying at 7 and 8 and, you know, selling at 10 and 11, you don't need to buy at 6 and sell at 12 because you don't know when the bottom is. You don't know where, and you know, Bitcoin's particularly an asset. There's a new 12 every time. So, but I think like that's like tying a lot of people who've been on the sidelines looking to buy, whether it's Bitcoin or any other crypto or that have bought and have wanted to buy more but thought it was too expensive. I mean, think of where we're at in a market. the buy opportunity here and just that cycle of where pricing opportunity has to get in on an entry point to buy. I think we're at seven or eight. Yeah, I agree. I mean, it just feels like almost everyone here believes that at some point there will be another bull market or we won't pay much higher than we are now. So why aren't you buying everything all the time if you have money to do so. A lot of people bought the dip at 100, and you're done buying the dip, and I get that,

and you'll be fine. But, like, everyone who's watching this, pretty sure, has conviction that Bitcoin's going to 250 or 500 or a million, whether that 500 years, and that markets will eventually go up. So it's weird that we have to have conversations about what price to buy. Well, one of the levels of cope that exists, you know, in the quote unquote, everyone versus Bitcoin. The cope has gotten to the point where, well, Bitcoin's gone up a lot, but Nvidia's gone up more. So I'm cooler than you because I bought Nvidia. Really, where did

you buy Nvidia? Let me, you show me, right? Or, you know, Bitcoin's only gone up a cager of 37% over the last three years. So there's other things that are better than that. Like those are the dumbest arguments i've ever heard my life um so you know whether it's reply guys or it's reply guys um you know uh look at the smartest folks um in the markets uh that that that that still roam around uh and have really big footprints again the jim chanos is of the world you know after jim chanos executes a a short master strategy um what is what you know what is the position that he keeps holding on to and moves those profits into a long Bitcoin right I don't know guys pretty reasonable investor far as I'm concerned so you

know those are the types of folks you want to keep an eye on and probably emulate as best you can and the best way that you can do that is simply hold a position for a long period of time and allocate into that position every month or every week or every day if you can to to flatten out your cost curve Well, in the real estate, Matt, we kept you like 18 minutes over what I think we're scheduled. Are you okay? Yeah, yeah, I'm cool.

Yeah, I'm cool. I can say audios now, too. So I don't know when you guys actually end this thing. We don't either. That's the beauty. Yeah. We don't either. I mean, I'm like on the first segment here.

Nobody knows what it means, but it's. So most of the people that come on need to have a hard stop at some point. So, you know, like we have to. These guys, I'm literally downloading Game of Thrones videos right now. Well, here's what I got one point. I can't get on Twitter anyways, so I got nothing to do. You said, we have reply guys. Someone said, look at their faces.

Shame. So obviously I had to go rip this video while we were talking. Shame. Shame. You guys feel shame? I feel shame. Here is, here is, can I make a point about what we just said? Because I think relative value is the missing piece of this conversation.

And if you think about, you know, what is a what do you do in the housing market when you want to establish value you look at comps you look at what the neighbor's value is what the previous sales have been in the neighborhood where that stacks up if you compare what is the closest correlated asset to bitcoin in everyone's mind gold it's called gold 2.0 literally people call it that so if you just look at the market cap of gold at 28 trillion dollars and the measly 1.8 trillion that's that's in Bitcoin, we have to 15x Bitcoin's price to get to the same market cap as gold. Now, I'm not saying that's going to happen this year, but I don't think anybody in the room

thinks that gold is a superior asset to a store value as Bitcoin, just on the functionality alone in Defi that's coming down the pike. Gold just sits there like a pet rock. Bitcoin can actually do things for you, like earn yield. J.P. Morgan Chase and a bunch of other people said that they're going to take Bitcoin. It's collateral for loans. They're in a bank in America that you can walk into with a gold bar and say, give me a loan on this gold bar. So there's already intrinsic value in Bitcoin in the banking system that's beyond what gold is, but the market cap is at 6% of what gold's market cap is. That's all I need to know. You know what I mean? Like that screams value to me. But,

And maybe just me. You can get a loan at the pawn shop with your gold, though. Yeah. It's true. That's the only place you can get alone. And it's 80% interest. I was going to say you ain't getting value there. Yeah.

And you probably should be packing while you're doing that actual. You can pawn your gun while you're there too. You can get rid of that too. That's really risky because you need it. You're the pawn cop. Yeah. Matt, like I'm going to. to let you go because yes thank you guys thanks for having me i'll see you next time

what's that this is the moment like if you want to oh yeah hey if you want to buy crypto tax free you can use a roth IRA with directed IRA you can link it to the arch public trader and you know you can just have the best of both worlds so tax free gains on crypto sounds pretty great trade as much as you want you don't even need to track it who cares the irs doesn't It's not going on your 1040. Then you get to keep all the gains in the crypto. So it's directed IRA.com. You can learn more there.

And our team, you can book a call, book your account fully online. You don't even talk to someone if you're not into that. But we're here for you. Thanks for me on, guys. Thank you, I appreciate it. Awesome. We talked about the portfolio track. Whoa, that was big.

He talks about portfolio tracking. I think the greatest thing I ever did for my mental health was when FTCS collapse, I was using Blockfolio. And, you know, like everyone else, I used to like refresh. a hundred times a day to see that all my coins and what was going up, I just never got another portfolio tracker. Why does it matter? Like I said before, I've learned all these lessons the hard way.

Like it does it. I'm not selling it. So what does it matter? Yeah. Yeah, a really smart trader, well, name names that I am very close with, told me one time about a cash strategy that they had where they were selling. covered calls and it was really interesting to me the way that he saw it and the way that he saw it was he would find blue chip stocks that he wanted to own Tesla you know invidia the ones that

we all are have been talking about that have had the rip and that we think are the future of tech right with Elon Musk if he's able to transition in cars from a liability to an asset that creates revenue for you as an owner of that asset, that's a monumental shift in owning automobiles. That would change the whole game, I think. And that's what I think we're all betting on when you buy a share of Tesla, right? So I think when you're talking about a strategy of like, how do you not lose in the market? Well, when you're in the money on a call, you sell it.

for the cash yield and if you're in the money all the time every month you're going to make a very good coupon on that money that you have out there because you're in profit if you're not in the money he looked at it as just his long-term investment portfolio he just shifted his mentality said well i want to own it anyways put it over here and it it didn't give him the cash yield that he was looking for but it absolutely gave him the entry price on a portion of of his investment dollars that he wanted allocated to that stock in his portfolio. So he accomplished win-win in his mind. And that mentality has changed the way that I think about things because it's like Bitcoin.

If you bought it at 110, do you really think that's the top that it's ever going to go? I mean, if you do, you're playing a much different game than we are. You know what I mean? and you'd play at a different game than Larry's playing and everybody else that's in the game. So if that's your, so don't sweat it. You're not going to be right on your entries. You're never going to pick the bottom. That is impossible to do.

That is literally catching the knife at the floor a millimeter before the tip hits the ground. It doesn't happen like that. Life doesn't work like that. And really where that tip is, Andrew has a saying that we use all the time in business. And it's like, hey, listen, there's no. houses built on the peaks of the mountains because there's no real estate up there and it's the same thing with peaks in prices and dips in prices they don't last very long they're like this or this and you don't think you're building a house up there and getting your whole stack unloaded at the top of one of those

peaks it ain't happening you better start you know divesting all the way up the green side of the Mountain is the point. I just want to show this is, let's bring it up. This is the ETH chart from my Archpublic daily, but here's the log, just so people can see yesterday bought Bitcoin twice, ETH once, Solana once, the day before Ethan Salana, the day before Salana, the day before Salana, the day before Salana, Bitcoin, So we've been buying a lot on these dips. And there were big gaps, actually, where they're not.

None of them were really logging. Like here's the seventh to the 11th. It was pretty sideways. We didn't really catch anything. It was pissing me off. The 7th to 11th is that the same one? Yeah, I mean, there's a lot of gaps here, fourth to the seventh. So when it was sideways, we weren't catching it,

but it's been catching all these big dips at this point. I just love this thing so much. Well, think about it like this. Everything that you've kept in your stack that you've accumulated, you've done at the bottom of all of these dips. and all of the sell opportunities that you've cashed out on have only bought your cost basis on those entries down further, right? So it's just the win-win.

It's like just let it roll and set your parameters according to your risk tolerances, what you consider to be dips, on what timeframes you want, so do you get the frequency and the output that you want out of it? And then check in with our customer service division, and I wanted to give Matt some kudos, his entire team is just 10 out of 10.

If you do want to learn about, you know, a tax-free crypto retirement investing, just calling those guys will give you an incredible amount of confidence in moving forward with them because they're really hands-on and they approach the crypto market in the way that we used to look at customer service, like real talking to people. And that's what we pride ourselves in at Arch Public too, call our guys, and if you're not happy with the frequency of the trades, it's either not trading enough, or it's trading too much, or it's putting too much capital in the trades, or too little capital in trades, all of those things are completely adjustable on every single timetable, on every

symbol. So it's really easy to do once you master it and once you learn it, but it's a little bit of a learning curve. That's why we're here to help. We will guide you and handhold you and walk you through it. I'm running 13 of them right now. Yeah. Scott's running 13. Think about that. Somebody asked where to go. That's a modified ARB strategy. Is that what we would define this as? That is a very correct. It lacks a term technically, but that's a great way to describe it, a modified ARB strategy. It's an ARB strategy that allows you to restrict or expand how much of the profits you take off the table on the exits to the upside. So if there's volatility opportunities at the upside, where the market, you know, is pumping over a short-term

period, and you want to take some off the table so that you can increase your cash position in your account, thus giving you more purchasing power when the dips happen. The way you would do that is through this arbitrage strategy and you would set those exits at whatever percentage of the gains that you wanted to take off the table. You could do a one for one would be like literally you trade in for a Bitcoin, you trade out for a Bitcoin. A one to two or a two to one bowl ratios, what we call it, would be like you're buying one Bitcoin and you're selling the half Bitcoin at the exit. And that half Bitcoin is in profit by definition, because that's, That's a setting that you get to define is like, don't sell this below my cost basis and make sure it's moved above my cost basis by X.

When it triggers, you know it's a win. So you're excited about it and you're going in and that's contributing to, again, your overall cost basis as you continue to DCA or intelligently DCA across the cost curve. Yeah, the most powerful setups that our customers use, they're using ARB strategies, but they're also using intelligent accumulation strategies. as well. And that just means, you know, Scott said something a couple minutes ago where he said, well, not much happened the 7th through 11th. So it kind of pissed me off. Again, that's kind of the whole point is the emotion is removed. So instead of being pissed off and you make, you do something, and then there's another dip and you're like, oops, I wish I wouldn't have done that. And then instead, the, the Algos are making decisions for you. They're never pissed off or excited. They're just doing what

they're supposed to do. Being able to use different algos that have different sort of parameters focused on making purchases and different cells at different times, that's the way to go about really, you know, sort of turbocharging what it is that you're trying to get accomplished with any of the assets that we cover, which, by the way, Solana, Ethereum, XRP, Bitcoin, Doge, Sui, flare yeah flare a ton of them across the board you know you're you're able to execute these strategies and again you know crypto is volatility land bingo i was just going to touch on that you're able to take that volatility and use it to your advantage and build the you know the best and biggest stack of the asset you really want the most and again more important than anything else

You're not involved in it on a day-to-day basis. You're allowing these tools to do it for you, whether it's 11 o'clock at night, three in the morning, or 8.30 in the morning when you're, you know, taking your kids to school, it's all happening to your benefit without you having to sit at a computer and poke away and, you know, turn yourself into Jim Chanos. Well, and in the volatility that you're talking about, like most of the customers that are trading, sui for example aren't buyers of sui long term they didn't even know about sui before they started using the tools they they learned about sui because sui has a great volatility range and and the

arbitrage strategy specifically is capitalizing on ranging prices scott said earlier you know my my system was a little boring during this phase it didn't do much well that's truly because he had most of his accumulation done. If he was more balanced and was less aggressive, but these are his preferences, remember, he's very aggressive. What

the smart accumulation will act as is the activity when the markets are bottoming. Or the activity when the markets are topping when they're rounding. So if you aren't seeing activity in the rounding bottoms, it's because

you are more heavily using the arbitrage side, the trending side, the ones that you are using when it channeling, if you equally distributed your capital and you said, you know what, I want to play trends and I want to play accumulation at the same time, and you would see activity all the time because they are counter to one another. They trade when the other one is not trading. And that gives you coverage. It just depends upon where you are. And the way that I've told people, it's kind of like, look at these tools as reallocation tools. If you're at zero, percent crypto allocation and you're trying to get to what Larry Fink has said is the prescribed

amount of 5 percent, then you can use the tools exceptionally effectively to get you from 0 to 5 percent. If you're at 90 percent and you want to back it to 50 percent, the tools can exceptionally get you to 50 percent while capitalizing on the volatility. So it really is whatever your individual circumstances, the tools will provide you the, the, um, the way in which you're reacting to the market conditions that are indicative of good buying opportunities and good selling opportunities versus you, you know, acting like the market should react to your time frame. Like you going in the market randomly in selling or buying is literally going in blind

and expecting the market to care what you want it to do, whereas the best thing to do is go, you know what? I'm wanting to offload a little bit of crypto. I'm looking to sell some. Well, when should I sell? Well, you should sell a little bit at a time, so you DCA out, so you get proper price exposure, and then you should capitalize on short-term volatility swings so you're selling on big green candles, where your fill prices are better, you have the most exit liquidity, like all the things that are counter to trading manually, these automated tools do for you while you're not monitoring them. So you just have a distinct advantage that you otherwise didn't have.

And a lot of people don't understand trading automation, and they think that it's like a one-size-fits-all tool that's going to make you money. It's not that. It's a host of tools that we can teach you to use that we're so confident in your use of it that you'll see value that we've offered it for free. So come and download it, start using it, Talk to our customer service team. Don't talk to them.

Your choice, we will help you become proficient in using them. And if you don't find value in them, we want to know because we don't have customers that say that. And if you have a unique perspective that can shed light on a customer subset that we can better serve, we're all for that. Ryan asks if there's any default parameters or best practices. There are kind of, and you can just tell them you want what I have if you want to go as hard. full milker. You want to go full milker. You can never go full milker as you know like what's topic under never go full milker. Yeah. There are some you know we we have setups. We have setups. We have a bunch of case studies too that show those setups. And yeah, you can talk to our team

and say, hey, you know, give me the Bitcoin arbitrage algorithm strategy. They'll set you up with So, yeah, it's as easy and as simple as we could possibly make it. I'm getting out of here before Cloudflare cancels me. I would just like remind you guys, though, if I could see it on your faces. Shame. Shame. Shane. Shame.

Shame. It reminds me of Monty Python's Bring Out You're dead. Bring out you dead. But I'm not dead yet. I'm not dead yet. I'm not dead yet. You will be. Hey, out, you're dead.

So good. Oh, God, we're so old. All right, guys. Before we embarrass ourselves further, we're out of here. Thank you, Andrew. Thank you, Telvian. Thank you, Matt. It was great.

See you guys later. Bye. Thank you.