The Wolf Of All Streets - Bitcoin Price Just Set Another All-Time High, What's Next For Crypto?

Episode Date: July 10, 2025

Bitcoin just hit a fresh all-time high above $112,000, but Markus Thielen says it’s just getting started — with a $133K target for September. Traders may be underexposed as ETF demand surges and altcoins continue to underperform, driving Bitcoin dominance back to 62%. I’m joined by Markus Thielen, the CEO of 10x Research and Edan Yago, Core Contributor to BitcoinOS to break down the bullish signals, ETF flows, and what’s coming next for crypto markets. Edan Yago: https://x.com/EdanYago In the second part of the show, Dan from The Chart Guys will share his market analysis and some trades. The Chart Guys: https://www.youtube.com/@ChartGuys ►► JOIN THE WOLF PACK - FREE Telegram group where I share daily updates on everything I'm watching and chat directly with all of you. 👉https://t.me/WolfOfAllStreet_bot ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEKDAY! 👉https://thewolfden.substack.com/ ►► Arch Public Unleash algorithmic trading. Discover how algorithms used by hedge-funds are now accessible to traders looking for unparalleled insights and opportunities! 👉https://archpublic.com/ ►►TRADING ALPHA READY TO TRADE LIKE THE PROS? THE BEST TRADERS IN CRYPTO ARE RELYING ON THESE INDICATORS TO MAKE TRADES. Use code '10OFF' for a 10% discount. 👉https://tradingalpha.io/?via=scottmelker Follow Scott Melker: Twitter: https://x.com/scottmelker Web: https://www.thewolfofallstreets.io/ Spotify: https://spoti.fi/30N5FDe Apple podcast: https://apple.co/3FASB2c #Bitcoin #Crypto #Investments The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.

Bitcoin price set a new all-time high yesterday for a brief moment before slightly dropping but it's clear that there's massive bullish sentiment in the market leading many to wonder what's next for Bitcoin, specifically what's next for the rest of crypto. We're going to dig into that today with Marcus Thielen from 10x research and of course, Yago because it's Thursday with chart guys at the end. Let's go. Let's go. Let's go.

It is Thursday and Bitcoin made a new all time high and it's been actually surprisingly quiet. You may notice a few things. One is that I got a really nice new camera. And so now I've got this fresh look. I got new big lights up here. So I don't look like a crazy ghost. We're improving over here.

You know, we're making it a better experience for all people involved. You probably wouldn't have even noticed if I didn't say anything, but hey, it seems like it was worth the money. Anyways, let's dig into what is happening right now in the market. Iago, you never doubt in your mind that Bitcoin is going to continue to make new all-time highs, right?

Oh my God. I just hope it doesn't anytime soon. It's like a coiled spring right now. And the more time we- But it made it by like a dollar for like three minutes. You know, so it counts. I know, but let's at least have a relaxed summer in which we can accumulate just a little bit more. I agree, man.

I've still got, you know, just in case, shit bids and the stink bids in the like low 90s and high 80s, just in case. No one tell you, like, I don't think they'll fill, but man, it would be really great if they did, wouldn't it? I mean, Marcus, you do this literally all day as we were kind of talking about before 10X research, you guys provide research to the largest institutions,

hedge funds on how they should approach the market, your views on what's coming. So there's a slight tap of the all-time high. What does it mean for you? Well, new all-time high, I feel nothing. I mean, that's kind of like the saying, right? So, I mean, it's really, you know, all the chat groups that we have, it's just quiet.

It is, I mean, it's really, I don't think I've ever seen this before. Somebody was saying, it's like, you know, your flight has been delayed for six months and it finally takes off and you're just like, okay, so let's go. But nobody's really excited. It's quite interesting, but I think it's also because we have seen a lot of selling and you know, the way we look at the, you know,

from the on-chain world is really that a lot of old wallets, a lot of OGs have been actually selling, you know, offsetting really the buying from the ETFs and the buying from the corporate. So I think there's a lot of distribution going on among really the big players. And I think that's sort of like what we have been grinding higher, but not really bursting higher. And you know, when you look at the futures market, open interest is relatively muted. The funding rate is relatively low.

So there's not a lot of leverage in the market. It's just sort of like this, this, you know, VWAP, TWAP, you know, grinding higher really, from the community and not really some excitement. First, you know, we're making your high. Normally we would see, you know, a 5-10% move. I mean, when was the last time we had like a 5 or 10% move? I mean, you know, we look back last cycle, we had a couple of them on weekends. I mean, now the weekends are pretty much dead. So and I mean, I can go on and on there all these examples. But you know, it's kind of like how it is right now. Yeah, I mean, I love that they always have to put this in context on Bloomberg of something macro Bitcoin breaks

112,000 as first as traders defy tariff angst as if Bitcoin like slightly breaking 112,000 had anything to do with tariff news that nobody's paying attention to Nonsense to me, but listen, I think this begs a really good question that we can discuss which is we've seen the metrics across the market Things like this obviously right spot bit Bitcoin ETF surpassed 50 billion in community cumulative net inflows among Bitcoin ETF surpassed 50 billion in cumulative net inflows among institutional demand surge. We know how much buying there is. We have Bitcoin treasury companies left and right that are raising a billion here and there, casual billions to buy more Bitcoin.

Who is selling that is keeping price even at these levels? Because we've seen sell-offs down to the low 90s, high 80s, not that long ago. Certainly, we saw a sell-off, what, just a couple of weeks ago that was below 100, you know, tapped below 100. How is there enough Bitcoin to sell that this buying pressure is not sending prices flying? So one of the comments that I made earlier, and it was picked up by CNBC, Bloomberg, and so on, is really that these wallets of a thousand BTC, they're the ones that are really like selling. And these are some of the old miners, probably like Chinese miners from 10, 15 years ago almost. And I think when we looked at

those kind of these cohorts, the ones that are really buying are the wallets between 100 to 1000 BTC. And we know that, for example, MicroStrategy and BlackRock, they each have around like 500 wallets. So they fall into this sort of like the whales, right? I mean, the, you know, have glass not classified them, the 100 BTC, basically 10 million USD to, you know, to like 100 million BTC per wallet, but it's really the larger one. It's really the 1000 to 10,000 ones that are really offloading. And the way we look at it, it's really that as much as these ETFs and as much as the corporates are willing to buy per day, that's how much these older wallets are willing to sell. So there's really this kind of distribution at the top. And I think that's really why we're not going

higher. So it's no longer a retail market. It's really, you know, the old school guys, the miners versus really the new players, the micro strategies and the Black Rocks of the world. But you know, you were showing or you were mentioning the ETF flows, which is very interesting because we had three waves of really ETF buying. Of course, initially the first move was Q1 last year, which was kind of novelty, the high funding rate, hedge funds were arbitraging it. So they were buying the ETFs. But the hedge funds, of course, are completely out now. So we calculate the less than 1% hedge fund arbitrage positioning. And then of course, we had another wave when Powell lowered interest rates by 50 basis

points. And then the third wave started actually in mid-April this year. And this is when Trump started to attack Powell. So I think there's actually a massive trade going on right now where people buying Bitcoin, the ETFs are just accumulating. What's more interesting than the 50 billion is actually the 15 billion over literally the last two, two and a half months really buying. This is like uninterrupted and this is really driving the price higher.

And I think there's also so much BTC leaving off exchanges. So there's actually a scarcity factor happening now, but again, it's still being offset right now. But nevertheless, we would think we're going to grind higher from here. still being offset right now, but nevertheless, we would think we're going to grind higher from here. I think I can shed some color on why this is happening now. Put yourself in the seat in the position of someone who has been sitting for the last 14 years on a thousand BTC or 10,000 BTC.

Are you going to take that BTC and put it onto an exchange? You've held it up until now. You went through Mt. Gox. You went through the exchange hacks that happened even before Mt. Gox that no one even remembers. You went through a decade and a half of holding. And the reason you bought into Bitcoin in the first place was because you were paranoid

and libertarian. And finally, two things have happened. bought into Bitcoin in the first place was because you were paranoid and libertarian. And finally, two things have happened. One, you look at where Bitcoin is going and you say to yourself, well, I don't know if this is the libertarian dream anymore. It's governments and it's institutions. Maybe this isn't my thing. Your wife is saying to you, we are worth $100 million. What on earth are you doing?

We're worth a billion dollars. I want to buy something. And OTC traders are saying to you, for the first time ever, you can take that BTC and convert it to $100 million without putting it on exchange. And so this is the reason that over the last six to eight months, we've been seeing those early holders finally sort of willing to take that step and sell Bitcoin. It's not all of them. It's

not even most of them. But you only need a few 10,000 BTC wallets and a few hundred thousand BTC wallets for the O hundred thousand BTC wallets for the OTC market to be able to absorb it. Yago, I mean, when did you buy your first Bitcoin? Remind me. 2011. Yeah. So I mean, you've been there.

So God, I hate you. I mean, these are the guys, these are the guys we came up with. I told you. Right. I was going to say, so you know, these, that was my next question. It was like, so, you know, you, you, you kind of know the people that were around at that time. I'm just kind of curious, how many of these unknown billionaires do we have walking around in crypto?

I know it's a lot, right? They're not making any Forbes lists. They're not, you know, being touted as these wild geniuses. But man, there's a lot of people and you won't know by looking at their wallet. You've got two or three Boeing 747s full of them. Okay, that's a respectable amount of them if 25% decide to sell a thousand Bitcoin here and there.

Right? Even selling 20% of your stack if you have 50,000 Bitcoin, 10,000 Bitcoin is a lot of selling. So it makes sense. Wow. I mean, that's a pretty astounding thought. Marcus, I mean, is that basically aligned with how you're thinking about this? Yeah. I mean, I work for some prominent Chinese miners who are also very early. for some prominent Chinese miners who are also very early. And maybe they have 100,000, maybe they have 500,000 BTC, but of course they want to be... I mean, of course this person is like known,

but I think there are a lot of people who want to be quiet. And I think, Iago said it absolutely correctly, the people that are entering now Bitcoin are very different than the people that enter Bitcoin early on. So the game has a little bit changed and now you've got liquidity, but also you have like, you know,

OTC death that actually have the size, right? I mean, you know, last cycle, maybe you still would have needed to send your BTC to an exchange, which, you know, you probably didn't want to do, but I think now there is like a quiet exit, but it's also the market cap has increased a lot, right? We know that $950 billion has entered Bitcoin,

has been put into Bitcoin. We are now at 2.2 trillion. So that's sort of like a multiplier of, let's say two and a half times. So it takes actually a lot of money to push the price, materially higher from here, right? So for example, last year, we got $380 billion being moved into Bitcoin.

And that was, compared to 2021, which was like 300 billion. So that's of course a lot of money. But of course, when you analyze the money that has been moved this year, we are around like 290 billion. So again, we were 380 billion, we had 290 billion. So this is a little bit less than last year. And that's why we're not pumping so hard, right? So it's really this distribution, but there is a lot of activity happening on the surface and I think it seems very quiet but of course there's big people coming in and they're really buying and then there's no sign that these people kind of diminish. It's just a matter of at one point as Yago was saying, when do these people have enough money to kind of like step away? It's like, you know what, I sold 20%. Why don't I keep the rest and, you know, see how

things are going. I think it's also, there's another wrinkle to the story, which is that using the word sell is not necessarily accurate here. A lot of them are maintaining and actually for the first time ever, if you're sitting on 3000 BTC, right? You're not you're not huge, right? You're sitting at 3000 BTC. What opportunity and you I don't know, maybe you're, you know, you could be a car mechanic for all we know, right? How are you going to increase that stack for the first time ever? there's an opportunity for you to maintain BTC exposure and actually increase it. So if you go now and you are able to put together a deal with one of these

treasury companies where you come in early in the pipe, but in the form of BTC, your 3000 BTC is suddenly worth 5,000 BTC, 6,000 BTC. And you get to maintain your exposure. 30,000 BTC is suddenly worth 5000 BTC 6000 BTC and you get to maintain your exposure. 30,000 BTC. Yeah, so, so, so this is a remarkable opportunity. And the thing is, there's a bit of a race now, what are we going to run out of first these giant whales or the treasury companies that want to purchase from them, everyone is anticipating that the premiums are going to be compressed.

But we could find ourselves in two or three months in a situation where the premiums actually spike because these companies are no longer able to find more people who are willing to do a sort of in kind investment in the form of BTC. Yeah, Rand Nooner actually broke that down here on my podcast on Sunday because he was being pitched some of these treasury companies. I've seen them as well, but obviously I haven't dug in as deeply, but it was exactly what you just described. He was talking about one of the Ethereum ones and he was like, look at all the investors.

These are all the most publicly large funds that hold Ethereum. So all they're doing is sending their Ethereum in via pipe, as you said, and then they get stocked immediately in a new public company because it's a reverse merger and the stock already exists. And now their 1000 Ethereum or 10,000 is immediately worth four times and they're liquid. So you can either exit Ethereum entirely if you wanted to, go buy Bitcoin or do something, you know, wise like that.

Or you just compound your stack four times or you just buy back you get back your Ethereum and now we're playing with the house's money with three times as much more. I'll add one more wrinkle to this. In the US, you can make an in kind investment, which is not a taxable event. In other words, if these people sold their BTC in any other way, it would be a taxable event, they would have to pay you've just made a billion dollars, you're going to have to pay, you know, 300 billion dollars in taxes. But if you do it in this way, there's no taxable event.

So, a whole weird constellation of regulatory and market circumstances have come together to make this an extremely attractive and interesting moment. Rightumably you'd have a taxable event if you sell the stock, obviously. But you can borrow against the stock. The stock is publicly tradable. You can borrow against the stock. You pay a very low interest rate because it's a publicly traded equity. Buy, borrow, die, repeat for your future generation. Marcus, Bitcoin treasury companies? what do you think of them?

As you said there, they're more and more coming, right? I think it's really interesting. I mean, this was supposed to be, you know, the retail liquidity event where retail investors can get out. I think, of course, now there's this, you know, a little fomo. I think that's going to happen because, you because, I think what exactly what's gonna happen now is really that the buying doesn't seem to stop because we're seeing also of course,

this risk on the equity market. So there is this feel good factor and it seems to work, right? I mean, I think there is a race to become as big as micro strategy because then you can type in or tap into the kind of like the debt markets and everything. Of course, it will be very difficult for everybody to achieve this. But the way I always looked at it is that we might not really know what Bitcoin actually is or what it does or what people are

going to do with it. I mean, the gentleman here can maybe enlighten us if there's more things going to come there. But I think I looked at it always like, you know, like Apple, right? If you would have bought Apple shares 20 years ago, you would have no idea about, you know, the iPhone and all the apps it's gonna come. And maybe, you know, more is gonna come on Bitcoin, right? I mean, you know, there can be more functionality, there can be more smart contract, right?

I mean, this is, you know, one upgrade away basically, right? And I think, you know, there can be like a scarcity where something, you know, new can be like a scarcity where something, you know, new is going to be developed and you're going to be implemented. And then, you know, people are going to wish they had some, you know, collateral that is really pristine. So I think everybody can see this. And it's really interesting that you got these corporates, because the corporates must have like an end game. And the end game is not just sort of like just stored, right? There must be an end game to really use it. And, you know, really make make more use of it. So that's I think it's going to be interesting.

I'm not sure about that. I think I think yes, at some point that is going to happen. But actually, they don't even need that to be their end game, because it's this Bitcoin is this weird, sort of beneficial Ponzi scheme. And these companies are effectively able to take advantage of a situation where you've got this incredibly recursive or reflexive system. The more MicroStrategy buys, the more value it accrues. The more it buys, the more Bitcoin becomes scarce. So it actually accrues value in two ways. One, it holds more Bitcoin. And two, the value of that Bitcoin goes up. And with that, additionally, frequently premiums go up. So you can imagine a scenario where as these companies get bigger and

bigger, and as more of them emerge, there's more and more demand for Bitcoin. And that demand swamps supply, because I think we're coming to the end of the supply now, at least these very, very large tickets that we're willing to sort of finally after 14 years, think about the psychological fracture that happens there, right? There's only so many that that's going to happen with. And so this is why I say Bitcoin right now is a coiled spring. And so as that price rises, it becomes a larger and larger part of the market. The value, the demand outstrips supply, and these companies start to be the best performers and can be the best performers for years on the NASDAQ. And now they're also starting to enter the New York Stock Exchange. So I don't know. The big question is, do the premiums compress? But this game can go on, I think, a lot longer than people think.

Yeah, I think it's a bubble, but it doesn't mean it's the beginning of the bubble. I mean, the end of the bubble. Well, I mean, everything, everything. The beginning of the bubble. That's, yeah, I mean, that's what I've kind of been saying. Yeah. I mean, it's not gonna end well for most of these companies,

but that doesn't mean it ends badly for Bitcoin. I don't know. Why would it end badly? It ends badly for the shareholder, well, for the shareholders of those companies. I don't mean MicroSt would it be bad for the shareholders of those companies? I don't mean MicroStrategy or even the new ones. I've said this over and over again. It's like Bitcoin Treasury company number 74 and 83 and 99 that come in at the top of the bull market. But the question is, will there actually be demand for those stocks? It's the case that everyone who is

investing now makes money. Yeah. And that it ends badly because at some point, somebody is going to be investing at the picotop of the premium, right? But that could be months away, could be years away. We don't know. So we have premium spreads from like 1.5 all the way up to nine point something, depending on the treasury company.

So yeah, I don't know. five all the way up to nine something, depending on the Treasury company. So yeah, I don't know. I mean, when I when we initially saw this happening, I was extremely skeptical because I don't believe in perpetual motion machines. But honestly, the dollar has been a perpetual motion machine and the US government has been a perpetual motion machine for longer than we've been alive. So markets can remain rational longer than you can remain solvent as very well. Don't forget that micro strategy, you know, the volume peaked in, you know,

remember at $40 billion trading volumes, really, I think the share price was something like 540. So the, you know, there was massive volume going on. So somebody has bought the top there. There was, you know, more than 50% than the market cap. So I think some people are already underwater. I think, you know, with MetaPlanet, you know, it trades at, what, at a 600% premium or something. You know, I think some retail investors will certainly lose. And I think, you know, it was alluded earlier.

Yes, you need to get in early if you can, you know, send your BTC or your ease, you know, in kind and get in early, it makes a lot of sense. But I think for a lot of people, you know, buying buying it at, you know, 2x the value of BTC certainly does not make make a lot of sense in my view. But you know, I mean, I tend to agree that it's relatively early. I think MetaPlanet is a bit of an outlier because it's basically the only way to get institutional Bitcoin exposure in Japan, right? And so I think the ones that launch in countries

where there's no ETFs or real institutional exposure are likely to do really, really well. We have to talk about this article because it's you, Marcus, 133K by September. Talk to us about this target, cause we love that. No, it actually isn't on my target. It must have been somebody else mentioned within the article. And that's research, that's you.

So that I, you know, it's you. Marcus, you can't back away from it now. I said it I said it on a show. So it has to be true. Or maybe it came up today. Okay, so yes, okay. This is I thought it was a different article. So basically, when Bitcoin makes a new all time high or a new kind of three months high, the average return is something like 20% over two months, right? So if we look at the last 10 signals, you know, going back the last two, three or two and a half years, that's really what it brings the target. So it was really the new

three months high, which we just achieved really. And then the average return is 20% over the next two months. That's where this kind of statistic comes from. But we also in September where you have 9% returns usually, so I think there's a lot of seasonality going on and usually Bitcoin kind of performs relatively poorly in August and in September, that's usually some seasonality. But of course, maybe this time it's like skewed because we had the big equity correction in Q2 basically, and then we had the ramp up. And of course there's a scrambling to put money to work.

And of course there is this big momentum against the Fed. It's not just Trump it's not just, you know, Trump, there's also, you know, Senator Lumet is against it now against, against Powell. So I think there is this moment where people are expecting that the Fed will cut rates. And that's, of course, going to be, you know, quite, quite positive for the market. I think the question really is how long Powell can, you know, hold the dam here. But I think the market will expect the rate cut in September. So we can actually rally through the summer basically. That's what we are looking at.

And again, it's based on statistics and statistics indicate that we can have a 20% move here over the next two months. I want Yago's boring summer. I like that better. I think we all wanted the boring summer. I mean, I guess really most we won't get it. We never get what we want. Oh, no, because at 111, this sucks.

Yeah, that doesn't generally tend to work out well. I needed to buy much lower is not the not the position that I think you necessarily want to be and we have to quickly talk about one more thing, because this is a seemingly V story. PumpFun, pre-sale, sparks backlash over hyped ICO are calculated, cash out for those who missed it. Why not both? PumpFun is, they're going public. They're going crypto public.

This weekend, I think it's about a $4 billion valuation. I think actually based on the amount of money that they make that might not be entirely unreasonable, but it's hilarious when they're a CEO or co-founder or someone was like tweeting about it, he's literally like, hey, time for our final exit pump, yay. Like they're just saying all the bioparts out there.

Pumped at fun over the last week lost went from having 80% market share on Solana for their sort of meme coin launches to having less than 20%. I'm trying to remember the name of the- Something bonk related, but I don't really pay much attention, but I saw that bonk. Yeah. It seems, you know, but the point is, you know, how sustainable, what kind of moat does Pump.Fun have? So I think it's been an extremely profitable business, ridiculously profitable, just printing

cash. And this could be an indication that even those within the pump project, you know, feel like, all right, it's time to cash out. I think that's really the worry, right? And I think everybody thinks that the meme coin cycle is over, but over the last couple of months, I mean, they still have made like $30 million per month, really, so in profit. So that's really like $400 million per year. And I think when you compare it to like radium, you know, by the end of the day, it's like $30 million per month,

so that's really like $400 million per year. And I think that's really the worry. profit. So that's really like $400 million per year. And I think when you compare to like radium, pump the pump trades, even at $4 billion, a lot cheaper. So it could theoretically still surprise everybody and go to like $8 billion really, right? I think it could double just because people look at the moment of hyperliquid. A lot of people wish they would have bought more, would have gotten more, would have gone early. I think also if they raise a billion dollars,

I mean, they can do a lot of money, right? They can clean it up a little bit. They can change a lot of things. And again, I think who knows how long this bonk.fun or something is gonna last or who else is gonna come there. So we never know, but I think anything that really makes good money, and I think it's really not that frequent, you know, in crypto these days, because there's a lot of protocols that are making like zero

money and I have zero value. So who knows, right? I mean, this whole kind of like live streaming, you know, is still in demand. I mean, it's still going strong. And I think, yes, I think the whole thing crumbled down when the Trump coin came out. All the exchanges listed it at $60, $70. And a lot of people lost a lot of money. But nevertheless, I think the volumes have been holding up quite well. So the money is still going on there.

And I think it's relatively cheap at $4 billion, I would say. Yeah, I know you got to go. When can we launch bitcoin.fund on BOS? I think that pump.fund should have, if they're raising a billion, they're going to have to have the institutional arm so that corporates can start launching their own meme coins. Oh my God, can you imagine the Jamie Diamond memes? I just can't wait guys. Yago, Marcus, thank you so much. As always, everybody give them a follow

right down below. I will see you guys. See you next week. Yago, Marcus, see you soon. Thank you, gentlemen. Thank you very much. See you guys. A few quick notes as I bring on Dan in a second. I was talking through my AirPods at the beginning like a jackass. I was so deeply admiring my new camera that I forgot to check my audio. So I was talking through my AirPods at the beginning like a jackass. I was so deeply admiring my new camera that I forgot to check my audio. So I was this bike was a prop there for about the first half of you know, it's an audio issue. And B is that yesterday's video for the first time ever, I got a

got removed and a warning for harmful and like dangerous content or something. Okay, I they don't tell you why. We did a deep dive on chat CPT, I think it's because maybe we used like two capital letters in the headline that said erupt and explode or something. So I guess we're just gonna go with less hyperbolic titles so that I don't get removed. I hope it's not like we're being attacked

by people who don't like us that happens or people just report you like repeatedly. Yeah, the video from yesterday is not there because it was apparently harmful and abusive for me to say, are alt coins going to erupt with a question mark like a question, to which we decided probably not by the way, for anyone who watched the video. Anyways, we could ask Dan, I guess, you know, Dan, I'm, we have to be calm.

Can't say anything more abusive. We'll keep our low voice. Just on that note, we had one of our popular YouTube videos attacked by Russian bots that all downvoted it. You could see the analytics in one night. 90% of the downvotes on that video all took place. And so there's definitely YouTube wars that go on behind the scenes,

but hopefully it's not bad. Did you dispute it? And did you have any success asking for a friend? It's not for me. Yes and no, of course not. No success. I have 90 days where I can't like use exclamation points or capital letters, I guess.

I don't know, but literally if I get another warning, like my channel's down for a week and then another one and you're gone, like it's a big deal. It is, and yeah, it's a very helpless feeling because it's such a giant company. Well guys, make sure to follow me on X because we'll still stream everything there. If that for some reason does happen, we would not stop.

But yeah, I guess that was an explicit title as someone just said in the comments. Let's take a look at the charts here. What are you looking at? We have this tap of the all-time high, obviously. Yep, so the bulls are trying to confirm it. Again, it's just very similar to back here where we went straight up,

we pull back and hold weekly EMA 12, and then we came up, obviously we don't want the same thing to happen. That was a break zero follow through. We want, you know, I want 114 plus to at least get a couple percent of follow through, but it's very similar straight up. Go back to the EMA 12 and this is the attempt at that continuation.

So again, no red flags at the moment. We're pulling back to back test 110.6 thousand. Was this resistance level? We broke out. We back tested it yesterday and here we come again. You know, if if we were to head back down into the 109s it would be a little bit you know really essentially what it boils down to in the short term is do we get a break with follow through or do we trade sideways still you know through July into August within this range and maybe that's not a bad thing we know so many times in prior bull markets

sideways bitcoin is good for altcoins and that's a possibility. I've definitely heightened my watch on ETH recently and a lot of that has to do with the narratives we've been talking about all the money pouring into these treasury companies and those treasury companies have topped out for now. Generally when you shoot straight up you get a 40% guaranteed pullback 40 to 60% is what it usually ends up being and you got BMNR You know with its top is in for a while and you know CRCL had that top for a while We've got BT all these little companies BTCS tops in and some of that has to do with dilution You know, that's part of the factor. These are all trading vehicles for me these stocks

I am NOT I'm not even swing trading them They're day trading vehicles for me because of the added risk because of the volatility I just want my little you know give me my 5% 10% 5% I'm just gonna keep doing that and it does appear there's rotation going on where okay two days ago these names top out And then you get you know the nice move in BTC and ETH yesterday and You know this is the first time a couple of days ago where I've highlighted to our stock traders,

hey, it's time to look at ETH here because the narrative and ETH, ETHU, these different vehicles to try and see this rotation taking place. And we've been talking about this ETH BTC chart for a long time and breaking this level would be very significant for me because again, that would be the first weekly uptrend that has confirmed on this chart in

years and that stands out if it happens. And so we're heading up towards that zone. And it's the same question, you know, can we break it or are we just going to trade sideways through the summer? And, you know, it's always nice as a bull when the lesser case scenario, the worst case scenario is tightening up because that's fine. Bigger breakout, longer compression, greater expansion. I like the BTC chart here.

Just going quite quickly back to BTC, I think this is like if you want the doom chart, which is not doom at all. But we saw I think people have PTSD from a $65,000 high last cycle to a, you know, sub 30 barely makes an all time high and then, you know, back down for a bear market. Well, right now we have something that should not be, I don't think it's going to be, but a lot of people watching this and saying, as you said,

it needs to close higher. It can't just sweep this and be another like monthly wick and, you know, come back down. That would not be ideal. Yeah. I never liked to see breaks without follow through. And in the last bunch of years, I've actually incorporated it into part of my trading style, where flags break with no follow through indicating a reversal. You dump and then you bear flag, you get the lower low with no follow through, and then that's a shift.

And so we obviously don't want that to be happening at the top. But as any good trader will do, you could say, okay, I'm bullish, everything's pointing to bull, I gotta put on my bear glasses and look at it from a bear perspective and just ensure that I don't get blindsided

or get steeped in my bias. So it's something we're watching for. And again, we would need to really, we would have to break 98,000 for there to be major red flags. But for me, if we get if we head back down under 107, that tells us you know, we can we can be tightening up for a good number of weeks further. I would agree with that, you know, nothing really. It's just, we're basically ranging from 100 to 112-ish since 8th of May, when we broke above 100 that time. So I, you know, that last time, I think that's pretty clear. Dan, thank you so much, guys.

Give chart guys a follow. I hope we don't get removed. I hope that you don't get contagious removal on your videos. Not on your videos. Yeah, right. My videos the day after I was removed. You're gonna infect me.

Although they say the safest time to fly on a plane is right after there's some incident because they tighten everything up, right? So, they tighten it. All right, I'm gonna get a little liberal with my titles. All right, yeah, don't be careful. Watch the exclamation points and the capital letters. It could go terribly wrong for you.

All right, guys, thank you so much. We'll see you back tomorrow for the Friday Five. Later, have a good one.