The Wolf Of All Streets - Bitcoin Set To Explode As AI, ETFs, And Trump Shake The Markets

Episode Date: June 26, 2025

►► Sponsored by Aptos, check it out here: https://aptosfoundation.org/ I’m going live with Edan Yago to break down a wild week in crypto – from Tether’s CEO predicting one trillion AI agents transacting in Bitcoin to Trump hinting at replacing Jerome Powell. We’ll dive into Bitcoin ETF flows hitting nearly $4 billion, new crypto rules for mortgages, and Hong Kong opening the doors for crypto trading. Don’t miss this high-energy conversation on where Bitcoin and the global economy are heading next. 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 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 has shown tremendous strength even in the face of geopolitical wobbles, Trump comments, and basically everything else that goes on in the world every day that we can't keep up with. It obviously dropped temporarily below $100,000, but has basically flown all the way back near all-time highs. It's hard to believe that Bitcoin is going to get a significant move down with all of this tremendous demand coming from all over the place. We're going to talk about that today myself and Yago here.

We're gonna go back to call you a Bitcoin and bullshit. Bitcoin and bullshit today with Yago and of course, Dan from chart guys on the back half guys looking forward to this one. Let's go. What's up guys, I was in New York for the past couple of days, although it was a quick trip, of course, the travel all aligned exactly with my shows. But on Tuesday, you did see here a live stream of my conversation with Mayor Eric Adams at permissionless in New York City. New York City is a crazy place right now. I'll bring on y'all. We can talk about it. So I interviewed the mayor of New York at permissionless. And then

we did like a little fundraiser for him. Of course, he's very controversial. He had some campaign finance claims that he took a couple of free plane tickets, politicians. But New York just elected in the Democratic primary, which generally is the election because it's five to one Democrats in New York. A guy who is describes himself as a socialist, but the good kind,

not a communist, you know, a socialist who's basically blown up on tik tok has gone exceptionally viral and beat Cuomo. So proving that social media beats money Cuomo had $26 million. Now Adams is running against him independently, and is wildly supportive of crypto. So maybe he has a chance now again, but basically, this is the global financial capital of the world and has been the worst place on earth to do business in crypto. It's crazy.

Yeah, I mean, look, I think you can't, we shouldn't overestimate how much power the mayor of New York has even in New York. He said that in the conversation. Yeah, but I think, look, this is a really interesting sign that things, trends can repeat, even if they seem crazy, again and again, for a very long time, for 100 years or more, right? Every single generation needs to go through the process of voting in populists and socialists in order to learn the lesson, don't vote in populists and socialists.

And I think we're going to tie this back to Bitcoin. Everyone says, oh, this cycle is going to end, Bitcoin can't keep growing like this, but every single generation is going to have to learn that the cycle can and probably will keep repeating. Yeah. So, yeah. I can't speak specifically to the guy's policies. I didn't go so deeply. I just saw a few things because it was primary day

and I was there with the mayor, right? So obviously it was huge news, but things like, you know, government run grocery stores, that generally is bread lines, you know, it doesn't end well, in my experience, from what I've seen, you know, spending $65 million to allow gender transition

for children. I'm not making any judgment about these things. I guess the judgment I will make is that he wants to spend a shit ton of money. And we know how that always ends in the context of... I think it's more than just wanting to spend a shit ton of money. He wants to freeze rents and make it impossible to raise rents in New York. And he wants to introduce, as you said, you know, government-run supermarkets. So it's more than just a question of spending money, it's also trying to deviate from the market. And I think if you look at what's happening in particularly the Anglo-Saxon world in general, and the big polarization that we're seeing in politics, one of the parts that we don't talk about,

but I think is one of the key drivers, is that it's a war between two classes in society. One class is people who own their own property, and the other class is renters. And it's becoming increasingly polarized because the cost of renting just keeps going up and up and up. And New York and San Francisco have been, you know, ground zero for that. And so I think that a big, much more than what we realize of the extreme polarization and the degree

to which people are starting to vote in more and more extreme politicians, more and more extreme politics is downstream of real estate. So, you know, this will, I think, connect to some of the stuff that we might also have been seeing and talk about this week, but the more that real estate is not something that you consume, your house should be basically a consumption. It is something you pay for. You pay for rent, you pay for the place that you live. The more it is an investment, the more that sets up society to be a two-tier society,

which is at each other's throats. The people who own are going to have very, very different interests from people who rent. Yeah, absolutely. So listen, moving on from that, I think it's just the point that once again, Bitcoin will be on the docket somewhere in the world, right? This could become an election where now the crypto industry

steps in behind Adams when they weren't willing to recently because of the other option which they view as so kind of anti the ethos of Bitcoin. I don't want to beat it to death because every time we go to politics, people start getting really upset in the comments and we're going to just go ahead and move on. So this was to me the biggest story of the day that people are talking about. We haven't had a chance to go into Fanny Freddy ordered to find ways to count crypto as an asset. Anybody in the United States who holds Bitcoin or any asset and has tried to get a mortgage knows how absolutely important

this is and what an endorsement it would be for Bitcoin as a legitimate asset class. They actually hold it against you if you have crypto and you're trying to get a mortgage. Not only do they count it, they almost view you as not insurable. I mean, it's not able to get a mortgage. Actually, in my last house, we were buying the house and the last day not to my mortgage, but my insurance fell

through and the reason was because they saw who I was when they Googled me, which by the way, I could have sued them and was told to, but I just didn't bother. And we're like, this guy's in crypto, we can't insure his house. Yeah, I mean, it's a huge problem, right? Because what this basically does is it creates a situation where if a significant chunk of your wealth is in BTC or in crypto, the only way that you can buy a house,

if that is something that you want to do, is to sell. You don't have the ability to use it as part of the collateral, or even as part of your ability to prove that you have capital which would allow you to get a mortgage and to get a mortgage at a reasonable rate. So this is actually a very very big change and it sort of ties into what we were talking about before. I think the number of people within our industry who are renting is very very high and changes like this can allow for people from the Bitcoin space from the crypto space to start shifting into that ownership

bracket. Yeah, I just think that this is obvious, especially when we have ETFs and all these things. And it's been legitimized from almost every perspective, specifically Bitcoin. But I mean, this is a massive move. People in America who own crypto are going to absolutely love this. It can be so much easier to get a mortgage if you'd even want one at these rates and to buy a house down the road.

And this sets precedent for I think when the housing market is much better and people are much more interested. And at that time, obviously, Bitcoin's going can be much more popular. I think everybody's gonna own it. I think we pretty much agree on that. On the flip side, this wasn't in our news today, but I remembered it as we're going through this Barclays to ban crypto transactions on credit cards from Friday. So not everybody is moving more towards adoption. We still have people saying that

it's too volatile, and they don't want anyone participating. This is the move comes as a debate is unfolding in the UK on whether users should be allowed to buy cryptocurrencies with credit cards. You imagine Barclays stepping in and saying, you don't have the freedom to buy what you want. So I suspect that behind this is actually a huge amount of fraud.

I suspect that what's been going on. So what they're specifically banning is, you won't be able to use your Barclays credit card to buy crypto, right? So they're not saying we're not going to allow you to, you know, in the future, charge your credit card with stable coins or anything like that. What they're saying is that we're not going to allow you to buy crypto. And I think a big part of that is that you get fraudulent transactions where people will either do a charge back or are stealing other people's credentials in order to buy crypto. And that's the big difference between crypto and credit cards.

Credit cards are on somebody else's ledger. And the credit card company or the bank can always revert. Right. So those are not, those are not, those are transactions that clear, but don't settle. And Bitcoin is or crypto are transactions that settle. So they're final and these are not, and that creates a huge opportunity for fraud. So I think we probably shouldn't read too much into this.

Maybe it's a sign that there's been an uptick in fraudsters using Barclays credit cards to buy crypto. That's a really interesting take and I had not thought about it in that way at all. Yeah, that's a big problem. It just means that these credit cards eventually just going to get replaced. I mean, there's a reason that MasterCard and Visa and all of those are absolutely dumping in their share prices since Circle launched. I think a lot of people, you know, a lot of people will talk about the fact that a merchant's,

if you're like got an online store or retail store and you take payments and credit cards, a lot of people will say, oh, you know, it's really expensive. You're paying the two and a half percent, three and a half percent credit card fee. But that isn't the biggest fee. The biggest fee is the chargebacks, especially in the US, right? So, for example, whenever I go to the US, I can't pay unless I show them a physical

card and then provide them a signature because they're so scared of chargebacks in hotels. And so the chargeback cost, the administration costs, and the fact that people can just call up and do a chargeback, that is a huge cost to retailers. And I think actually the bigger driver towards stable coins, towards crypto payments is going to be the ability to get away from chargebacks, not so much the credit card system fees. And so what's interesting for Visa is that this is basically a way for them to get in

to that stream of payments, keep their 2% or 3% fee and get rid of the administrative costs that they have around chargebacks. So I think that we're going to see, continue seeing Stripe, Visa, MasterCard, getting more and more excited about stablecoins. Yeah, there's gonna be either be Blockbuster and Kodak or they're gonna try to be Netflix and you know be the disruption that eventually ends their business. There's no way

that the existing networks beat stablecoins into the future. Oh, actually that's that's not what I'm saying. What I'm saying is that the existing networks are going to become rails for stablecoins. In other words, I actually think that Visa are very well positioned to benefit, better positioned than almost anyone to benefit from stablecoins and that a lot of stablecoin transactions are actually going to happen off chain on Visa rails,

but it will be an excuse for Visa to basically say, here, you can't do a chargeback. Yeah, totally agree. And so moving a bit back to price, we have this historic move with ETFs, Bitcoin ETFs, 12 day net inflow streak, just 4 billion as Bitcoin gains amid dollar slump. So this just speaks to the incredible demand,

I think, that we're having for Bitcoin. Coming in through the ETFs, I think a lot of people would have expected that, you know, this drop below 100,000 actually came when it was at a eight day net inflow of 1.7 billion, right? So how is price going down when you have this historic inflow? But obviously there's a bit of a delay on ETF buying

and what happens in the market and it's a bit spread out and Bitcoin's open all the time and these aren't, but still like, it feels like the groundswell is still just continuing for demand underneath this. Yeah, I've been trying to answer the question of how are we not seeing over the last month a more significant price rise, because we have been seeing more and more buying,

sources of buy pressure. There's just the usual things that are happening. The price on any given day is dominated by very, very short term traders. The price in the long term is dominated by holdings in the short term dominated by traders. I think that's part of the story. But the other thing which I found was that FTX have, according to the BBC, been engaging in additional asset sales, probably a large portion of which is not of near panic right now. I feel like the price is extremely wound. I don't get this feeling that often, but right now I get the feeling that we're just on the cusp

of a very significant move. You know, maybe it's my own hope because I'm one of those people who just loves when Bitcoin goes down, right? I want to buy more. But you had your opportunity. I know, I did. So listen, like, you know,

but if it rose so much on that slight drop below 100 and just bounced right back, it's hard to imagine what could push it deeply below that. Anything can happen obviously, but that to me, to your point was kind of the signal that, oh, maybe this thing's really not going well. I had an idea for a new trading strategy. Basically Bitcoin, every single time

there's geopolitical chaos, does exactly the same thing. It drops sharply and then shoots up. By every time. And so the idea that I have is you go to Polymarket, you watch the geopolitics tab. If any of the sort of prediction markets there spike, you can then sort of either sell and then buy Bitcoin or wait for the price of Bitcoin to drop and buy. And it sort of gives you this

early indicator so that you can be ready to buy at these, you know, in our current chaotic world, once every two months you get one of these opportunities. Yeah, I mean, other markets to be fair kind of do it as well, right? But you just don't get the, you don't get a seven or 8% dip opportunity like you do on Bitcoin.

And to be frank, it's not like I'm dying to buy more Nvidia right now, right? I am dying to buy more Bitcoin. And Bitcoin reacts first and fastest, right? So Bitcoin reacts first, fastest and sharpest. And so, and it also recovers fastest. So I think Bitcoin is like, if you want to trade geopolitics and geopolitical chaos,

Bitcoin is absolutely the best asset to do. All right, so we've got like 10 minutes and I'm tired of talking about the news. So let's talk about what's being built on Bitcoin, the progress, I guess, specifically with Bitcoin OS. But generally, these are conversations I've been having all the time now about whether Bitcoin should be the base layer for everything, where other layer ones fit into the picture, if we should be worried about fast and cheap, which I do believe fast and cheap is exceptionally important, or just the security of Bitcoin or whether we can have all of those things.

So like, listen, you know, your 30,000 foot view right now as you're building, launching, doing all of these things, how are you viewing it right now? Do you think that everything is coming back to Bitcoin? Just give us the quick summary. I think that the level of excitement and development of Bitcoin is unprecedented. It is continuing. We are, you know, there's the largest ICO that we've had this year was a 50 million dollar ICO

for a platform being built as a roll-up on Bitcoin to host stablecoins and specifically Tether. to host stable coins and specifically Tether. That was in just over a month ago or just under a month ago, right? $50 million. We haven't seen ICOs of any significance outside of the crypto space at all. We have seen it in Bitcoin. Actually, Boss, right, has an ongoing sale and has raised multiple millions just on a platform

built on Boss. So there's interesting, just if you just look at where the early investments and early traders as well as the developers are, there's a huge amount of excitement in Bitcoin. There's also every single day new technology being announced. We put out a paper just a couple of weeks ago on how we can bring programmability to Bitcoin mainnet. There's other projects doing the same thing. I'm going to eat CC. And the people who have reached out to me are Bitcoin developers and projects who want to meet me there. So I think- Question quickly. Are they looking to pivot to Bitcoin or are they looking to basically bridge?

Both. So look, one of the key things that we're seeing is a grinding growth, not just in the Bitcoin price, right? So we've been seeing sort of like the Bitcoin price grinding up, but we've also been seeing the number of BTC being activated in DeFi grinding up by hundreds of millions of dollars every month. It's very very substantial and very very sustainable growth and more and more projects are entering into that space all the time. We're also starting to see Bitcoin treasury

companies launching and talking about starting to look to generate the yield on their Bitcoin or utilize their Bitcoin as collateral. In other words, not keep it passive. So you've got this, you know, $2 trillion plus asset, most of which has not really hit the market yet in terms of being active for DeFi, for collateral, for lending, and is starting to enter on a consistent basis, the amount of BTC that is moving into the market is accelerating. So that is a huge opportunity.

I think it's a huge opportunity for anyone who holds BTC. It's a huge opportunity for Bitcoin itself to sort of reintegrate itself, not just into TradFi, which is integrating, but also into the rest of the world of crypto. And it's a huge opportunity for projects and people who invested in them. So yeah, I think this is a story which is under told. I've been sort of predicting it now for a year plus more.

Yeah, but I think I was able to put a date on it like about a year ago and I, you know, was able to say 2025 would be the year that we're seeing it. We're halfway through 2025. We've already seen a lot of it, right? We've seen more than $10 billion in in BTC flow into DeFi in the first half of this year. That is wrapped. Like are you saying like, is there the differentiation between something built on Bitcoin that's DeFi or going into, you know, Ethereum as a wrapped version or Solana as a wrapped version, assuming the bulk of it

is going into DeFi and other chains? wrapped version, assuming the bulk of it is going into DeFi and other chains still? Actually, no. So it's probably around 50-50. There's like, for example, the biggest player in sort of like the non-wrapped, the biggest player which is not doing it on a separate chain, but it's sort of built their own platform with Babylon. They have about four and a half billion or around 45% of it. So we're actually seeing more of the growth being in applications which are not just in Bitcoin. But look at Sway, right? is a massive chain. It's the most significant chain of 2025 outside of Bitcoin. It's the most significant new chain. It's the new Solana.

The majority of its TVL right now is Bitcoin. And we're seeing Avalanche make a major push into the Bitcoin space. Solana are making a major push into the Bitcoin space. Cardano obviously are making a big push into the Bitcoin space. With you. Yeah. Yeah, with Boss. So yes, I think we're starting to see this play out across the board. And I think that this is where, like the narrative isn't there. I think people, for the most part, haven't noticed that this is happening. The narrative is, you know, mostly not anywhere, right? The crypto field's very, very lost right now.

But I suspect that because this is actually happening, the fundamentals are there, the developers are there, and we're seeing continuous growth. Eventually the narrative will catch up as well. That makes sense. You mentioned the BOS sale, you guys have raised quite a bit. So what's the progress there?

What are the next steps? When are people going to be using this, developers, and putting it into practice and implementing? Yeah, so developers are already working on BOS. We are anticipating over the next few months. So we have parts of the system already on mainnet, and we're expecting to have effectively the V1 of the entire system out by the end of the summer.

And so I think in terms of the progress that we've been making and our ability to stick to the deadlines that we set for ourselves, we've done remarkably well, much better than I would usually expect an R&D project to do. And I think the second half of this year as a result is going to be sort of the same as the first half of this year but on steroids. And 2026 is where we're going to start seeing the first versions of this start to mature. I think we're going to start seeing breakout killer app

successes in 2026 built on Bitcoin. I agree. What do you think we'll see first? Where do you think we'll see this really start to show its promise and become exciting to the mainstream? Right? Because you need to have that sort of catalyst that makes people pay attention. And you mentioned before, you don't see that many people talking about it right now.

I think more and more people who hold Bitcoin are going to start earning yield on that Bitcoin for the first time. That's the thing. I think that could easily go into the hundreds of billions of dollars. I think we will see stable coins, probably of two kinds. I think we will see Tether make a big push back to move back basically off of Tron and back into the Bitcoin space with USDT. And we will also start to see Bitcoin back stable coins. And I think we will see one or two major chains effectively double, triple or 10x their TVL by pivoting and going all in on Bitcoin.

And I think that probably is going to be the biggest story. I think the big story is going to be that we will see like what we've already seen with SWE, where now the majority of their TVL is BTC. And as a result, Nier and Solana and Avalanche are all making plays. I think what we're going to see is two things, more and more chains seeing the majority of their TVL being in BTC. And we're gonna see at least one ecosystem

pivot well enough that they're going to substantially, they have become a breakout success in the BTC space specifically. Somebody said Bitcoin back stable coins worked well for Terra Luna. To be clear, talking about a stable coin on Bitcoin is not talking about a Bitcoin back stable coin. Also, Terra Luna was never backed by Bitcoin, right?

So Terra Luna had liabilities that exceeded $25 billion and had purchased theoretically a billion dollars of Bitcoin. So that's one to 25. And one 25X leverage is good for perps, not for a stable coin. Right, but that just should also be clear. That's a very good point. But that's when you're talking about stable coins

on Bitcoin, you're talking about stable coins in the same context as on Ethereum or on Tron or on Aptos, Right. We were talking about using the technology and the chain and the speed being built on these layer twos and everything that's being built on top of Bitcoin to rival those of the other chains. Yeah, that's it's the it's the tech stack. Perfect. Yago, we ran out of time. We did it again. We've made it to 9.31. So listen, where can people check out, boss? I would say check it out on Twitter.

If you're watching this, you're probably already on Twitter. So btc underscore os. That's the handle. There are currently to my account about 4,000 extra people watching this on Twitter. So we know that they're there. For sure. All right.

Cool, Scott. All right, man. Thank you so much. I'm gonna hitch up later today. Absolutely. On the other thing. Cool man, cheers. All right, thanks man, great. Awesome guys, okay, well,

I do think that the future is going to be built on Bitcoin. Doesn't mean that the other chains are going anywhere. I think that they will also be building in parallel, but it's nuts to think that everything that we've seen incredibly built in DeFi and stable coins and all of those things that people are not going to try to do it on top of Bitcoin rails. But they're also gonna be doing it on Aptos.

Normally we talk about them on Wednesdays, but it's Thursday and I wasn't here on Wednesday, although a lot of you did watch my incredible interview with Adam Back yesterday, which we published because I was not here. And to be frank, an interview with Adam Back is better than a Scott Melker live show. But there was a huge announcement while I was at permissionless in New York by Aptos. And that was that they've launched Shelby alongside jump crypto, finally bringing true web three storage, decentralized

monetizable storage for data rich apps. You could check it out. I mean, this is like their big, big, big, big, big, big announcement. This was main stage. We've never really seen this be successful, but what this unlocks for businesses and for people is absolutely incredible. You can check it out. Shelby.xyz, Aptos, just incredibly fast, cheap, safe,

and continuing to build incredible things. And now we're going to bring on the one and only Dan of the chart guys. Dan, we have a couple extra minutes today. I don't have to rush off by the way. So just so you know, I didn't tell you that before, but I want to talk about what's going on in the market. You probably, I know you were listening. I haven't really done shows since, but that sweep under a hundred, I thought we might

go lower and I got, you know, it was just a classic liquidity grab right under a key level of support, I think. Yeah, for me, that was, you know, again, we were only under 100,000 for a few hours. So there wasn't a whole lot of thinking that had to be done. But you know, we call that a lack of acceptance. The price has a lack of acceptance under 100,000, which again, is exactly what bulls want to see.

At this point, my keep it simple statement is if weekly EMA 12 is support, it's a bull flag. And so we held it miraculously. What we're looking at now is this is very similar to the last bear break that we got, where we just went straight up. And then we tightened up and eventually broke bear. And I think this time is going to be different for a number of things. Number one, where we just went straight up and then we tightened up and eventually broke bare. And I think this time is going to be different for a number of things. Number one, positive geopolitical headlines. Number two, we've now seen the lack of acceptance under 100,000. And number three, we've got the broader market hitting all-time highs. So the NASDAQ and S&P 500 are stronger than they were back here.

But that's what I'm watching. Show me that this is different than this. And so what that means for me is this last time around, we had a retracement size. We gave back 75% of that bounce. So what I want to see on this next daily consolidation, whenever that is, maybe it's starting now, not sure yet. But I want to see less than 50% retracement,

get back less than half of that move so we can try and make that move at resistance. But it's definitely a bull flag. And again, confidence in crypto stocks continues. There's profits sloshing around between names there we'll talk about in just a moment. But all things considered, no red flags for bulls. Yeah, I saw it was a Bloomberg article or something that was like profits from Circle or funneling into Coinbase, right?

We're so we're like the mainstream is even talking about our good old-fashioned crypto washing machine Yeah, and and again as we talked about last week, it's it's different this time around where it's usually Bitcoin into alts But it's now appearing to be Bitcoin in crypto stocks And you know, I love that and and focusing on that let's talk ETH first real quick, and then we'll move on to those stocks. I guess we have to. Yeah. So for me, again, you know, again, I'm always looking around, where's capital rotating to? And I don't have time, you know, because I'm a full-time trader, I'm trading stocks all the time, different sectors, uranium, quantum. I can't be watching all the altcoins for the tiniest clues. So for me to keep it simple I'm watching ETH and if ETH shows us something then I start paying attention to all the alt coins

And so, you know, we're very range-bound in this zone where you know, this zone back here is the most important resistance It was support a bunch it was resistance a bunch and now it's back to resistance and then this zone which was resistance Then it was support support tried to hold his support and holding again and again We're smack dab in the middle of this zone And so i'm just watching do we break out and turn this into support or do we break down and turn this into resistance? Uh, and until one of those happens, you know, i'm not getting any information from this chart and as we know ethbtc You know, I'm not getting any information from this chart. And as we know, ETH, BTC, sideways and down, which it's been doing for years,

we need the sideways and up to tell us something is different. So a big one for me will be if this high that we just saw, if that breaks, then I'm paying attention to altcoins a lot more. And so again, I just want to simplify things. There's so much going on in markets that I have to do that. And that's the way I'm doing it with the altcoin space.

I'm not the biggest MA trader, but I was watching ETH USD. I don't know if you saw this on the weekly, because I know you use generally different MA's, but I just always have the 50 and 200 kind of passively there to give me some mean reversion or just an idea of where we're at. We had seven weeks, literally literally that was like almost every candle touched above the 50 and dropped below the 200. And now you have this move down to support, but I mean, we're right at the 200 again.

So like pretty clear that that was rejected for its, you know, breakout. We needed to see it back above that 50 and not below that 200. And yeah. Yep. With regards to the stocks, again, talked about it last week. Circle had another big leg up.

But at this point, I think circles top is in for now. I'm hesitant to say that just yet. But generally, when you see this kind of 40% pullback, you know, we'll bounce instead of lower high and then we'll tighten up. But again, the last two days, we had a solid drop where we did drop that 40%. And while that was happening, we know Coin got a big leg up and Coin's still holding on just fine right now. And even some of the miners like CLSK

had a big two-day span there. So to me, that just shows me circle profits going around. And the big question is gonna be, is it MSTR's turn? It's battling some key resistance right here, right now. And again, I do believe that the premium for MSTR's turn? It's battling some key resistance right here right now. And again, I do believe that the premium for MSTR is set. I think we peaked on that premium this cycle, but that doesn't mean it can't still go up a bit.

So keeping an eye on MSTR to try and get its turn as well. But as we're speaking here, the first eight minutes of the open, this is a pretty decent start for, here's coin, pretty decent start for, you know, here's coin, pretty decent start for crypto stocks. And so the first thing I look at Bitcoin with it. So we're going clearly in version of Bitcoin is doing nothing in the first eight minutes of trading. And these crypto stocks are still showing some solid strength.

So that's a good sign. Yeah, I mean, I guess the dollar has been down. I'm looking gold is losing. Just happened to be like scanning through charts, gold losing the 50 MA here potentially, which I think is pretty meaningful on the daily. We'll see if it might hold again, but you can see the 50 MA is pretty good

just to have, I think, as a gauge of where markets are at when you look. I see it so consistently kind of working. Yields are down. I think that's probably part of the story here. But I think when you talk about the Coinbase part, it's really interesting because I don't think people realize Coinbase makes more money on USDC than Circle makes on USDC.

Yeah, that's 50% of it. Yeah, like it's just over 50% and they utilize it. So there's additional fees. I mean, they're partial owners. So imagine how much they've made on this IPO as well. I think people maybe are getting keen to that. And then the fact that last week, I think the Circle Stocks market cap exceeded the market cap of USDC, which is wild. Yeah, I mean, that's what happens after IPOs. If you look at a cannabis play TLRY, it went to 300 and now it's under a dollar.

So they pump those, they pump those IPO's as much as they can. But just- The weed stocks come back. Come on. Oh man. We will, we need a fundamental catalyst there for sure. And right now actually the psychedelic names are getting a little bit more attention from RFK Jr. and that side of things.

So still keeping an eye on those sectors, but not trying to nail any bottoms. I need some momentum at the back of the bulls before I get interested. Just one more note on Coin with regards to, again, full-time trader using Coin, I have really disliked their service and I'm sitting there wondering,

what is everybody seeing? This business model is not sustainable. Anybody can eat their lunch in terms of making a better trading platform. And now I see everything that's played out the last year and a half, two years. It's like, okay, they're going for a different. That's what they're going for. It's not always remained successful. I mean, yeah, they're custodying all the ETFs, right? I mean, they've got a few things going for them beyond like, whether you're trailing stop fires,

or whether the platform remains online when there's high volatility, which has been still an issue, the eight or nine years that I've used it. Yeah, I agree with you. Interestingly, I'm actually talking to a friend of mine owns a publicly traded Canadian psychedelic company. And we met because of Bitcoin

and they're looking to move some of their treasury, small percent into Bitcoin, not to financially engineer it, just buy some Bitcoin to hedge against the dollar position. And we've been talking and working with them to do that in an efficient way. So I would love to see the psychedelic space blow up for them.

Like if they got like the Bitcoin treasury narrative, if it catches some, you know, some tailwinds and psychedelics to go, but RFK definitely giving psychedelics a nice push, at least fundamentally, I guess, we'll see if the stocks follow. Yeah. And for those wanting to follow, it's CMPS, MND, CYBN, ATAI, those are the main ones I follow. CNPS just had a little bit of data come out and it actually dumped really hard. And so I use that opportunity to buy a little bit of long-term positions in the sector where, you know, those are either going to zero

or they're going up hundreds of percent. So that's my mindset. Love that. Yeah, that's a good way to approach it. I assume it's a very, very, very small part of your portfolio. So because people in crypto hear that, they're like, I'm all in. Yeah, that's a good way to approach it. I assume it's a very, very, very small part of your portfolio. So because people in crypto hear that they're like, I'm all in. Right. Yeah, I'm all in that. Whatever he just said, hundreds

did he say hundreds of percent? I mean, right. So, alright, man. Thank you as always for your amazing perspective guys give Dan a follow chart guys on X and his channels great educational content as well. Really will teach you how to trade without being a completely spastic moron, which I think is nice. Most people are really emotional. All right, Dan, thank you so much for your time,

and guys, I will see you tomorrow for the Friday Five. Thank you, Dan. See ya. See you soon, bye. Let's go!