The Wolf Of All Streets - Ethereum ETF Pump l FTX Reboot? l Friday Five

Episode Date: November 10, 2023

Ethereum us finally breaking out after news that BlackRock has filed for a spot ETF. I've been beating the ETH drum for months and will tell you why I'm still bullish. Also reviewing the entire week's news! ►►TRADING ALPHA READY TO TRADE LIKE THE PROS? THE BEST TRADERS IN CRYPTO ARE RELYING ON THESE INDICATORS TO MAKE TRADES. USE CODE ‘2MONTHSOFF’ WHEN VISITING MY LINK.  👉 https://tradingalpha.io/?via=scottmelker  ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEK DAY! 👉https://thewolfden.substack.com/   ►►OKX SIGN UP FOR AN OKX TRADING ACCOUNT THEN DEPOSIT & TRADE TO UNLOCK MYSTERY BOX REWARDS OF UP TO $60,000!  👉 https://www.okx.com/join/SCOTTMELKER  ►►THE DAILY CLOSE BRAND NEW NEWSLETTER! INSTITUTIONAL GRADE INDICATORS AND DATA DELIVERED DIRECTLY TO YOUR INBOX, EVERY DAY AT THE DAILY CLOSE. TRADE LIKE THE BIG BOYS. 👉 https://www.thedailyclose.io/   ►►NORD VPN  GET EXCLUSIVE NORDVPN DEAL - 40% DISCOUNT! IT’S RISK-FREE WITH NORD’S 30-DAY MONEY-BACK GUARANTEE. PROTECT YOUR PRIVACY! 👉 https://nordvpn.com/WolfOfAllStreets   ►►COINROUTES TRADE SPOT & DERIVATIVES ACROSS CEFI AND DEFI USING YOUR OWN ACCOUNTS WITH THIS ADVANCED ALGORITHMIC PLATFORM. SAVE TONS OF MONEY ON TRADING FEES LIKE THE PROS! 👉 http://bit.ly/3ZXeYKd

There's been endless FUD about Ethereum. It can't go up. It's dying. It's dead. The rally is over. This is not going to be an Ethereum market. Solana is the new Ethereum, all those things. And I've calmly and casually been writing endless newsletters about how Ethereum will eventually get its turn. It will pump and nothing there has changed. Well, we got some news on Ethereum yesterday. And of course, the market did, in fact, finally reverse. We've also got the rest of the week's news and review, things like the BlackRock spot Ethereum ETF proposal being filed. Gary Gensler wanting to maybe reboot FTX Circle, potentially IPOing.

We've got a lot. Let's go. It's the Friday Five. What is up, everybody? I am Scott Melker, also known as the Wolf of Wall Street. Before we get started, please subscribe to the channel and smash the like button. I haven't told you to smash the like button probably since the last bull market or maybe ever because who wants to smash a button? It's weird. I don't even understand where that came from. It makes me feel like one of those other YouTubers who screams in the thumbnails. That ain't me. So guys, I just got a message from NLW right before the show, because it's been that kind of two weeks here, that he's got a personal thing to deal with,

emergency, I believe with a a pet and he ain't gonna make it so you get the friday five for me which actually just means ranting and a lot more charts than you would normally get on a friday but i do miss his perspective he obviously missed last week as well but this is still the friday five we're just doing a little differently speaking of thumbnails of people screaming if you guys have not been paying attention to our new thumbnails here, I don't know, man. Like I said, they're not made for clickbait. I know that we haven't drawn enough rockets and green arrows going up

with angry faces and Ethereum to $27,000 by tomorrow titles. But look at it. Larry Fink is like dancing in a bar mitzvah or something. I don't know what he's doing there. There's a move we used to do called the squirrel, where you went back like this and you dip, and you go to the other side, and then dip, and you go to the other side.

That was a Florida dance move. It was called the squirrel. Maybe he's doing the squirrel. Or maybe he's doing the Dave Weisberger, where he says, you know, you look over here, look at what my hand's doing. But back here is what they're really doing. Maybe that's what it is. You guys don't have to. Like, look at Gary my hand's doing but back here is what they're really doing maybe that's what it is

you guys don't have to like look at gary gensler he's got a literal like 1950s carnival swing all up in his brain because the man is brainless he has a carnival brain we all know that we all love it and lw is here too i'm sorry he couldn't make it. It's not like we can pivot thumbnails at the last second. I didn't mean to falsely advertise, but this is, after all, his show as well. So yeah, we got the swinging merry around in Gary Gensler's broken brain, and maybe Larry Fink's about to punch Gary Gensler into his face.

Did you ever think about that? But there it is. Ethereum ETF pump. So I just want to show you something. I write a newsletter literally every day, every weekday, right? This is it. This is the sub stack. Here it is right here. If you guys haven't done it, it's free. I wake up super early every weekday morning, gather up the news. This is how I hold myself accountable for what's going to happen throughout the day. How do I do a YouTube show? How do I do a Twitter spaces? How do I then go record a podcast? I've got two Twitter spaces today. I'm recording with Altcoin Daily, this and a podcast.

How do I get ready for that? I wake up really early and I write a newsletter because it holds me accountable for learning what's happening that day and for telling you what's happening that day. But that's not really the story that I want to tell here because seemingly yesterday, everyone was shocked that Ethereum finally reversed against Bitcoin. But if you've been following me along, I pointed out very recently a lot of things. So look, just go down last week, Wolfden 843 on November 3rd, one week ago today, the most hated asset. I made the case that Ethereum is actually more hated than Bitcoin, Hex, Dogecoin, XRP. And then obviously in the conclusion said, you know, the current hate directed toward Ethereum signals doubt, often indicating that the crowd might be on the wrong side of the trade,

blah, blah, blah, blah, blah, saying, hey, you know, just stick around a little bit. All right, scrolling down. This is actually fun. I don't remember. September 27th. Has Ethereum disappointed you? JP Morgan says it's dead after the merge, all those things. My theory remains that Ethereum is a dormant giant. And when it awakens, it will be a force to be reckoned with. I eagerly anticipate revisiting this commentary when that day arrives. It promises to be a remarkable moment. The day is arriving. Okay. That was September, what did we say? 27th? There's got to be more here. Oh, September 7th. I laid out the entire Ethereum investment thesis. Differentiality factor, sticky demand, usability layer. I mean, look at this. All right. All right. So I think the bottom line we understand,

I've remained Ethereum bullish. I remember every time in the cycle where Bitcoin dominance has raged. And in previous cycles, everyone said Ethereum is dead. It's going to zero. We had literally like right when Clubhouse and Twitter spaces were invented, a bunch of Bitcoin maxis got on literally at the deadest bottom of the Ethereum Bitcoin chart. I'll show you where. It was literally here. So it was in 19. It wasn't Twitter. It was Clubhouse, something, whatever it was. There was a live stream. They all got together and said Ethereum is dead. It was literally right here when it was 0.017. What happened there? Well, I don't know. Ethereum has only been oversold on the weekly chart against Bitcoin four times. Who's been telling you this for weeks? Me. Not because I

have some fucking crystal ball, because I'm not an over-emotional redacted who gets caught up in stupidity of mainstream narratives. I can just look at a chart and go, hmm, this looks stupid. Why are you guys saying these things? You might actually be dumb, but I mean that in the nicest possible way. You're dumb, but it's not your fault. You were born that way. So I can't hold you accountable for your stupidity. Listen, I'm not even saying Ethereum can't go down anymore. I'm just saying when you hear it's going to zero, it's dead, all these things. It was the same. You guys might remember, for those of you who've been with the newsletter for a long time, before even the Tesla split, all those things, I wrote this long Twitter thread, newsletter saying, I'm buying Tesla. People are saying it's going to zero.

He smoked weed on Joe Rogan. It's way down. It was like 180 bucks. I said, I'm buying all the Tesla. I wrote a whole thing on it. It's on Twitter. I could probably find it, to be honest. I'll try while we're talking. But there are these times when you see these things, this irrational FUD, this nonsense being spewed, and you go, yeah, it doesn't make much sense. I wish I could find it, but yeah. Oh, here. Here. Maybe this is it. Let me see. Here. No, just throw this over here. This is May 23rd, 2019. I just bought all the Tesla that I could at 185. Here are the reasons. Let's zoom in for you guys. Chart looks ripe for a bounce. Look at that support right there. Chart looks ripe for a bounce. Look at that support right there. Chart looks ripe for a bounce. I placed orders slightly above that red line ages ago. I'm hearing analysts

say that Tesla is going to zero, arguably my favorite buy signal. I like to bet on greatness. I'm forever on team Elon Musk. Okay. Okay. Yeah. I'm dunking a little bit. I'm sorry. I'm sorry. But that's the reality. It's the same thing. We hear it. We heard it about Solana and look at what Solana has done. Do I wish I bought Solana at like seven or eight bucks? Yes, I do. But I was in bankruptcy with Voyager and my Solana was gone. Okay. But what happened yesterday? I literally posted on Twitter that I thought Ethereum was due a major reversal very soon, yesterday. And then like an hour later, we got the news that you're seeing right here. The iShares Ethereum Trust has just been registered in Delaware. For context,

BlackRock's iShares Bitcoin Trust was registered in a similar manner seven days before they filed the etf application with the sec details below right okay in case you missed it this was me right before eth monthly the underperformance of ethereum is the talk of the town spoiler probably won't last once this breaks above 2,200, all hell will likely break loose, but the good kind of hell, 9.59 a.m. I don't know what time that news came out, but it was 10 a.m. I literally posted this one minute before the news started coming out. And then, of course, we see it confirmed. BlackRock's Ethereum ETF plan is confirmed in NASDAQ filing. Okay. Sorry, guys. It's not even meant to be bragging. I'm just trying to show you the way that my also redacted

brain works. And maybe your brain can work like that next time you hear irrational FUD and insanity. This is always going to happen. They're not even first, right? We know that other companies like ARK have already filed for Ethereum spot ETFs. Not big news, but it's really big news when Larry Fink and BlackRock come in for a couple of reasons. A, it's BlackRock. He's been talking about crypto being a flight to quality. He goes on TV. He's on his roadshow promoting crypto. But then you get the absolute brainlit, smooth brain, can't think for themselves. Bitcoin Max, he's left and right on Twitter going, he's only saying crypto because he can't say Bitcoin. You're not allowed to say Bitcoin because of the SEC. Well, he just filed an Ethereum spot

ETF. I don't think he's just saying crypto because he only believes in Bitcoin, but it's the law. Watch what they do. Also watch what they say. In BlackRock's annual investment letter last year or earlier this year in March, he said, Bitcoin, digital gold, spot ETF, amazing, and then wrote an entire section on the tokenization of all assets, digitizing, speeding up, making it cheaper, being able to collateralize real world assets. And now he's filing for an Ethereum spot ETF. Do you think that Larry Fink, Larry Fink, he's right here. See him? See Larry? Do you think that Larry Fink is just out there lying to make maxis feel better, right? I used to be a Bitcoin maxi. I used to love Bitcoin maxis, but I can tell you that 99 out

of a hundred times, the dumbest, angriest, stupidest comments on my X page are angry people when I mentioned any altcoin calling me a shit coiner and they have laser eyes and less than 500 followers. Every single time. Show me on the doll where Ethereum touched you. Right? But so we know now that BlackRock is in line for an Ethereum spot ETF. And if we get a Bitcoin ETF approved, the odds are very high that an Ethereum spot ETF would also be approved down the line. Why? Because the SEC would need a really, really, really good reason to reject it when it's suspectively the same product. We already have CME Ethereum futures and CME spot futures. We already have Ethereum futures ETF. We would get an Ethereum spot ETF. It may take six months,

may take 12 months, may take 18 months. We may not even get a Bitcoin spot ETF with Gary Gensler. Remember him? Carnival brain. Remember him right there? Remember that guy? Yeah, we may not. But I like to listen to the experts and the Bloomberg guys, Eric and James, who've been on the show so many times, a 90% chance of approval of a Bitcoin spot ETF by January 10th. And Eric Palchun is saying now, I have no reason to think they would not approve of an Ethereum spot ETF. So does that mean that it's ETH season? I don't know. But here you go. Let's look at the chart. Fourth time oversold weekly, massive bounce. You knew it was coming. Now, by the way, if this does make another low, you're going to get bullish divergence. Okay. So that, not a big deal, but let's look at it on the hourly, what happened, right? This is what happened when that news came out. This is right

around 80. This front ran that news slightly. Look at that. It bottoms a complete, like right down to the lows here, massive volume and huge, like 10% or more pump. That's a big move for Ethereum against the Bitcoin. It is. Yeah. It's retracing a bit now. Bitcoin moving up again. Crazy times. What a time to be alive. But Ethereum USD, this was what I showed in that chart. I've showed this guys over and over and over again. This is a monthly chart. You have a flat top here, right? Coming off these lows, these highs right here, these highs right here. And you have higher lows consolidating. That is an ascending triangle. What that means is that every dip is bought up higher. There's a ton of buying pressure and demand, and eventually you break up.

If we get above this zone, I don't see what stops this. I don't see what stops it. That's my Mike McGlone. The key thing is I don't see what stops it. So 2,700, right up to this area. And then really anywhere up to 34. I don't know. Ethereum, I think it's time basically to start ignoring other things and start paying a whole lot of time to Ethereum right now. I mean, look, Trading Alpha, you guys know that I've been using this now. I have Wick on every Tuesday. It's in the newsletter. We have a partnership. He shares his charts. It's awesome. I'm constantly now using Trading Alpha here to check for things. Look, it was consolidating. You got the green dot, broke above the track line, green dot on the daily four-hour. Green dots, now all green dots, way above the track line, looking, looking really,

really good. That's ETH BTC. Let's check ETH USD. I mean, that's the four hour, gave you the long signal down at 1875 and gave you a long signal at 1835 and showed you a retest of the track line at 1777 on the four hour. and then you go to the daily and man, this was telling you to long ETH from the 1600s. Just nothing but green dots all the way up. Change green dots, broke the track line. There's your signal, 1633. I wish I had been using this back then. My God, trade the alpha. It's pretty awesome. So what happened though, while all this was happening? Let's talk about the Bitcoin market really quick. That's not the chart we want. That's not the chart we want. Is that the chart we want? That's not the chart we want. Where's the chart we want? This is it. This is the Bitcoin chart I want. All right. If you've been following along,

we've had a lot of people come on. I'm one of them. Chris Inks, et cetera, saying all the way from down here, target 38,000. Now, what I told you, I tweeted about this. I literally, on the day that this happened, in March, I have the tweet. I said, congratulations, bear market's over. We broke 25,000. First higher high in a sequence of lower highs and lower lows from the all-time high, right? High, low, lower high, lower low, lower high, lower low of lower highs and lower lows from the all-time high, right? High, low, lower high, lower low, lower high, lower low, lower high, lower low. That was the bottom. Yeah, you could have bought that bottom. We did a bit, but your signal, this was a high.

You just made a higher high right here after being rejected all these times. Trying to teach you guys some things here because I don't know many. So I'm going to teach you the few that I know. That was it. Your break of 25,000 new bull trend. Bull market, bull trend, bearish trend, whatever. The bearish trend's over when you make a new higher high. Market structure's broken. At every chance to buy back at 25,000, and here you are. But why is this target so impactful? This big blue zone. I drew this big blue zone. Scary. Luna. The market was trading at about 40,000 before Luna. Everything you see here is crypto contagion that started with Luna, Celsius, BlockFi, Voyager, FTX. And getting to this level is erasing all of the contagion of 2022 for Bitcoin. But that also means there's a hell of a lot of people looking to sell and take profit here. We know that the market was massively overbought. We know we had bearish

divergence, hidden bullish divergence. Maybe we get more bearish divergence here. This area should be a very, very, very, very, very tough nut to crack. But imagine all the shit talking people in your life who still haven't called because they don't know that Bitcoin's gone up because we haven't gone mainstream again yet. All those people who called you and said, are you okay? Do you still have a job? I've been thinking about you. No, they're calling to dunk on you, by the way. They're not thinking about you. All those people you can now look and be like, Bitcoin's the same price before all of that happens. All of it. Here we are, right? So this is going to be a key level. But what's very interesting here

is that you had this rejection, right? It hit 38. I mean, let's, we can zoom in. Here we go, right? It hit 38. And in a matter of this one hour candles, it hit 38 and two hours later was 35,700, right? 10% drop-ish in two hours, right? That shows you how much was there. But the crazier story was what happened to altcoins, right? We saw some altcoins at that moment go down like 30%, right? But what have I been saying over and over and over and over and over again? Not because I'm smarter or because I know more. I've just been here before. I've been saying the crypto market since 25,000 is by the dip. And especially since we got to 35 and saw, when we got to 31 and broke through and saw

altcoins really start to run, I said, you buy every dip on all of these things. Let's take a look. I have a couple here. I pulled them up earlier. Algo, right? You went from 13 cents to 10 cents in an hour, but look where it bounced right off of support. Look at HBAR, which I've been sharing in the newsletter over and over again. Bounce right off support from the highs, right off support from the highs. I don't even remember. There were others. Oh,

eGold. Okay. Sorry, guys. You got front run by 27 cents. But when it was up here and here, I said, you should bid the $38 area. Not because I'm smart or some God tier trader. I have no idea what shit's going to do. And you may miss it because a lot of times they don't come back and retest. But a smart trader, when a key area is broken, you bid for a retest of that support, resistance as support. And it happened. But what's crazy is it didn't happen in a week or a month. It wasn't like, oh, let's set our bids, you know, or like, I'm going to wait until it gets there and buy, right? No, you have to have your stink. If you remember the chart of Palooza days, stink bids. We used to make fun of one inch all the time, one inch. You have to have your stink bids set. You have to have that line ready because it may happen in literally one hour.

Guys, this thing went from, this is Elrond. So it got to 53 and went all the way back to 38 in days. But this went from $44 down to $38 in an hour and was back, just back. And now it's back up on yesterday's highs before it happened. Have to have these bids set if you want to catch it because that dip you think you might be waiting months for and you're, well, when it gets there, I'll make a decision. No, you're not going to get that opportunity. Is that clear yet? Have we made that clear? Anyways, now, as we continue to move on with the actual news,

which was what we're supposed to do today, Another one, CME topples Binance as Bitcoin futures exchange, as top Bitcoin futures exchange, as crypto ETF excitement source. How many times have I showed you this chart on CoinGlass? I've been showing it all the time. And yesterday was tweeting about this like a crazy person. Do you know how insane it is that CME futures are now more volume and open interest than Binance? Binance was the entire damn market. Now, part of this is the SEC's attack on Binance and Binance getting kicked out of a lot of places by regulators and Binance being marginalized, which, by the way, I think that's really sad. I have no idea what Binance getting kicked out of a lot of places by regulators and Binance being marginalized,

which by the way, I think that's really sad. I have no idea what Binance did. If Binance happens to be a bad actor and things in the future, they see more enforcement action or anything, the best case scenario in that case for us, not for Binance, and I'm sad, I like CZ, is that Binance is very small. The smaller they are, the more marginalized they are. By the time anything happens, the less it will impact the market and the more it's been priced in, which we know. But the other side of that, forget what's happening to Binance on the downside. It's worth discussing what's happening to the CME on the upside. Yes, your average person can buy BRR through their account and get access to CME futures, but 99.99999% of the

contracts being traded, that's not an actual number, being traded on CME are institutions. These are people who are waiting for the chance to buy a Bitcoin spot ETF who want exposure to this asset and are doing it on the CME. Also, this is going to be the way that they do that cash and carry trade we saw for all those years when they do get a spot ETF. Get long spot, get long ETF, short the futures, collect the yield in between. Yeah. Kind of like what the degenerates were doing with the GBTC premium for all those years. Yeah. Right. So this Ethereum spot ETF, Bitcoin spot ETF, JP Morgan settling transactions on onyx between BlackRock and Barclays, Fidelity making huge waves. You can buy and sell there. Franklin

Templeton tokenizing T-bills. How many stories have I told you over the past few months of the biggest institutions in the world trying to get into this space and doing it with more than just buy Bitcoin and put it on the balance sheet? Okay? It's happening. It's happening. And the floodgates are going to open when these spot ETFs are approved. I don't know what that means for price. I don't know if we buy the rumors, sell the news, buy the dips, sell your face, be the ball, throw yourself. No idea. But I know that the institutions are coming. You can determine whether that means that we're opening the doors to Senator Palpatine and the evil empire. I have my own thoughts on that, but they're coming. They are absolutely coming. And we're talking about what happened yesterday

anyways. I just have to have this open. Once again, this was liquidations. Yesterday, we saw 234 million in longs liquidated and 185 million in shorts. Leveraged traders got wrecked even when they were right. Both sides, indiscriminate pain. 55% was longs, but absolutely destroyed in both directions. 38 liquidates all the shorts. Back to 35, liquidates all the longs. Now we're back above 37 or so. Absolute freaking insanity and a very good reason maybe to not use leverage. Next story, US SEC said to open talks with Grayscale on spot Bitcoin ETF push. ETF, ETF, ETF, stop saying ETF.

It's so annoying. I'll be happy when we don't have to ever say those three letters in a row again. But it's clear that the SEC is actually progressing towards approving these things, right? We've seen the DTCC filings, listings. We know that they're starting to see these funds, the SEC actively asking questions instead of just kicking the can down the road, everybody responding, changing their filings to get compliant. And now we know that representatives of Grayscale are answering questions from two divisions of the SEC after the Grayscale court win,

which by the way, Gary and his cronies decided not to push back against. This is happening, guys. Okay. Every sign, again, not my prediction, the experts, every sign pointing towards this ETF approval, including price, right? Yes. Maybe it's retail and a bunch of people front running it and getting excited. We talk about that, but there's people who know this shit is going to get approved and they're buying the hell out of Bitcoin. That's probably the case, right? Probably the case. I think that if BlackRock knows it's getting approved, that BlackRock might not be buying some of this. I don't know, man. But speaking of Gary and the SEC,

FTX's FTT token jumps 90% on Gensler comments. 90%. I'll give you the gist. Gary said, yeah, we could totally have FTX come back, bro. What's wrong with that? My immediate response was, can we trade unregistered securities on your new exchange, Gary? I wonder what stake Gary owns. He doesn't. He doesn't. He doesn't. Yeah. He basically said, do it within the law. You can relaunch FTX. No problem. Build the trust of investors in what you're doing and ensure that you're doing the proper disclosures. And also, you're not commingling all these functions, trading against your customers, gadget continued, or using their crypto assets for your own purposes. Don't do any of those things.

And FTX is a great idea. What are we going to trade on FTX? Bitcoin spot. That's it. Can't trade anything else. Everything else might be an unregistered security. But yeah, go ahead. But like, man, come on, Gary.

Can Gary be this colorblind we do know he has a carnival in his brain you can see it right there but i mean is he is he is gary is gary confused oh i don't know i mean it's sad that in this picture right here that it's gary and some other sbf and some other security and not a picture of spf and his good buddy gary because we know on the books that they met two times but gary was very clear to say i remember two specific meetings that were on my calendar that we had we all know that they met and talked many more times than that and listen that's fine spf pulled the wool over all our heads, eyes, masks, faces. Remember the masks?

But like, dude, just stay out of it. Do we really need to hear Gary Gensler talking about FTX and pumping the shit out of the token? Can you believe it? FTT token just a couple days ago was $1.10. It's $3.30. It's 3X'd. It has 3X'd. And the last leg of that was from 230 to 240, 130 to 240, just on his comments. Market manipulating asshole, Gary. You make a comment like that. What did you think was going to happen? Right? That's not even the line I want to draw, but we'll do it like this.

What did he think was going to happen still? They've changed, by the way, they keep changing trading view. I want horizontal Ray, which by the way, I think if I ever became a porn star, my porn name would be horizontal Ray. What did you think was going to happen if you said that, Gary? He pumped the shit out of the token. Do you believe it? Do you believe it? Do you believe it? Is there literally another crazier scenario in your mind than the comments of Gary Gensler pumping the Ponzi unregulated scam token of FTT. Oh my God, this dude is a douchebag of epic proportions. He should be arrested for market manipulation. You know who's pumping and dumping tokens? Gary Gensler. Gary Gensler has done more to move the price of individual unregistered securities in the crypto market than any other person on the planet.

Do you remember when he said, Matic, Cardano, these are unregistered securities? It passively, without actually saying it, like in an enforcement action against Coinbase, and those coins went down like 50, 60, 70, 80, 90%. What a douchebag. Yeah. What a douchebag. Stablecoin issuer Circle Internet. Circle Internet. Considering 2024 IPO, I don't remember them being called Circle Internet, but here we are in Bloomberg. Backers include Goldman Sach don't remember them being called Circle Internet, but here we are in Bloomberg. Backers include Goldman Sachs, General Catalyst, BlackRock. Circle tried to go public via blank check deal in 2022. You may remember SPACs.

That was a SPAC deal. That was a SPAC deal. They were worth about $8 billion at the time. We have no idea what the valuation is, but we do know that they thought they were going public and then the SEC just like failed to give them approval in time. Just like let it passively pass because the SEC are douchebags. Well, part of them, some of them are great. Hester Percy's great. Right. But continuing, no official news here, but continuing to say, yes, we would like to go public. Guys, this would be huge for the crypto industry if we can get another company like this to go public. Now, listen, we chose these stories with NLW. He had all these takes on it. Bitcoin fees soared nearly 1,000% since August as ordinals are back in vogue. I personally give, if I had to put a number, I give precisely, I would say zero shits about ordinals and BRC20 tokens and build it on Bitcoin. Yeah, build it on Bitcoin.

It's cool. I'm down for it. But like, when I say I give zero shits, like do whatever you want, guys. I'm not here to argue about whether Bitcoin should be the base layer for NFTs or not. But yeah, this is once again, cramming, jamming and slamming up the Bitcoin network. Fees are high. Transactions are taking forever.

The good news is it shows that there's a way for miners to make money outside of just mining. They can get it from transaction fees. That's great. But it also shows that, damn, dude, they need some layer two solutions. Or maybe Bitcoin isn't the optimal base layer for shit coins and NFTs. And maybe that actually shows that there's a purpose for things like Ethereum and Solana and such. That's my take on that. Guys, that's all I've got right now. I covered it. But if you guys throw a chart request or two in the thing, look at some charts. We can do it. While I look at some charts, I'm going to wait here for a minute, do some requests. Some of these coins are just

outrageous i've been holding this one like i've been holding alluvium literally since like the beginning when it launched in the last cycle it was okay scott doesn't hold his coins he sells there's someone in the comments who said i pumped and dumped coins who are literally believe the dumbest shit they read on the internet who hasn't actually looked at my wallet since he's holding 95% of everything I bought from the last cycle. But anyways, yeah, I held this. It was 1800 bucks. It's 92 now, but here we are off the lows at 37. Literally, I was going to share this in the newsletter here and I was like, I don't know, man man seems gaming coy and like maybe not it was 63 now it's 92 i feel bad feel bad coming into the franchise a lot of places a lot of these kind of looking like maybe they're worth uh taking some

profit on you know i'm just guys are coming in fast but uh anyways adam adam you're pumped and dumped tokens like gary gensler like literally takes five minutes to look anyways adam uh there's atlas that's literally the wrong token i do have an adam chart here some more adam uh yeah i shared adam in the newsletter on the breakout right here at 740 said 780 looks like a decent entry, especially if you get a retest back here. Now it's breaking above the 200 MA, but look, you have the Adam, you have this massive breakout of descending resistance. Real good. Look at the volume here. Huge increase in volume off the lows. What you want to see big candle spread on increasing volume. That is a real

confirmed breakout. Volume has to confirm what's happening with price. And as you zoom in, you have the 50 MA curling up, 200 MA broken, and this key higher high right here that it made above 780. A lot of these, I can't tell you like, yeah, this is a great time to jump into Adam here. Let's see what it says on uh by the way guys there's a link down below you can get two free months of uh trading alpha that's what this is two free months look at me look at me sharing things melber what a shill i can't believe that uh he would ever promote something that's cool. Fuck them. Yeah, I mean, Adam's still green dots.

So John Wick would tell you we're still in a positive trend there. That's the daily hour, four hour. Where are my dots, bro? Load, still green dots, track line going up. I would say that Adam still looks really, really bullish. Like I said, we're just in a dip buying wallet right now. Solana, Solana, Solana sold. I mean, God damn. I'm annoyed, actually. I'm annoyed.

I did one of the things that you don't do. It got up to here and I circled this and I talked about it and I said, you know, 39 looks like a really good entry, but I'd really like to get it at 32. I did that thing. But look, guys, this is before FTX. This is the same. Okay. The Luna level I showed you on Bitcoin, same thinking here. This is the FTX level, 3880, 3901. This is the FTX dump on Solana all the way down to eight bucks. Kill me. Right. Should have seen it. Should have known. But yeah, you know, ranged here for, I don't know, the entirety of the year broke out so clear, retested so clear. But yeah, I thought maybe, hey, there was some potential bearish divergence right here. Still could be, but I don't think so. I thought maybe I'll get a retrace 32. And I was sitting here with my finger on the buy button at like 38.25.

It was breaking below and I didn't do it. But yeah, right now, listen, these all look massively overbought. These runs have to end eventually. This is another kind of key level right here at 48. I think 50 is a good psychological level. I can't, I would never tell you to short anything in this market. I would say it's a good idea to take some profits off the table if you're making money. Sell 20%. I literally tweeted it yesterday.

I said, doesn't matter. I basically said yesterday, if you're starting to feel real FOMO, which I even was. So if you're starting to feel real FOMO, it's not time to buy, it's time to sell. And then I showed that I put in injective sell orders at like $17.50. It's back there, by the way. So it's not like that was some God tier shit, but this has bearish divergence. You can see higher highs, lower highs. These are going to retrace eventually. Maybe we don't get the 10 I was waiting for, but this is one of my biggest positions. I sold some at $17.50. It filled and then it dumped to $14.50. I was like, wow, I'm a genius. $1,750 again a day later. But I took my own advice. If I start to feel FOMO, like, holy shit, I don't own enough of

whatever, I'm selling it, not buying it. It's how I roll. It's the way you do. Someone asking for FTT as if we didn't just do an entire thing on FTT, like a whole ass thing. Let's see what Trading Alpha says about Solana. Wick was on here on Tuesday and talked about this at extreme length. Still green. That's the four-hour daily, still green, weekly, massively green. Yeah. Listen, buy dips. Please don't short these. Please don't use leverage. This market will give you everything you need without leverage. This is madness. Madness. I'm going back up trying to see some more of your requests. Maybe some that I actually have heard of. Some of the shit I've never heard of. I don't know what a Pendle is. I don't know what a Snek is.

ADA, I mean, went mega bull. I told you. First of all, this is the monthly chart. So you're at the biggest resistance you could possibly find on the ADA chart on the monthly. I'm not touching this below 38.66. When you go down to like the daily, you could see we had bullish divergence there. I bet we had massive bullish divergence there, there, pushing it all the way up right into key resistance. But this is a level of resistance. I buy the dip. What do you want me to say? Buy the dip. Buy it. God, if it comes back down here to this demand, buy the dip. Everything looks like a buy the dip. Matic, I've been telling you guys for fuck's sake. Matic, 59 cents, I told you. 50 cents, I told you. I

shared these. They're in newsletters. I write about it. How about Matic? Crypto muscle. You look like a Chad. Dude, that's Mr. Steal Your Girl right there. Could definitely be one of the cops in chips, probably has a motorcycle and is California Highway Patrol. Not introducing you to my wife. Right. First of all, I drew the gratuitous Matic short at 94 cents, even drew the squiggly line, went deeper than I thought. But here you are. Clean breakout and retest right there. Look. Look at this. I showed you guys this big candle breakout retest of both the horizontal level and the descending level in the exact same spot, right around $0.59. Here you are at $0.82. Weeks later, break of the $ 200. These all look great. This should go to 94 cents. Then we got to get above that. Buy the dip. Buy the dip. Every chart looks

the same pretty much. At this point, maybe we should just go look for things that are not pumped and figure it out. What's that? Coty. Yeah, I haven't looked at these in forever. Let's just look at it on here. Koti, but yeah, yeah. Koti, my friend, uh, my friend Shachaf Bar-Geffen, uh, the founder of Koti talked to him a bit. He's, uh, in Israel and was obviously military and stuff. So pretty scary over there for him. Looks good. What's there to say? These charts look great. All the charts look good. Find me a bad chart. Let me see if I have a normal chart. You guys should really... Guys, I'm not trying to sell you shit. This is my new... This is my flow. I check that. I check my own charts and that's it. So easy. Look at this. Okay. So

it's been so long since I looked at Coty. By the way, since the last bull market, these are the levels I drew and we're down here. We're at 0.05 and I was drawing shit at like 0.7, 0.224. We'll keep those levels. They still matter. All levels matter. Whoa, boy. Yowzers. Alarm that. Yeah, this looks, here's one. It's gone up, but man, I don't think it's broken the breaker. Look at that.

Look at it. Woo. You want to see that increasing volume and a break of that dude. And then it is time to have a Cote Partey. Cote Partey. And there was your retest of this level right there, which was... I mean, this looks like it's getting ready to rage. Let's see. It's above the 200 and still hasn't broken out does have a little bearish divergence so i would

wait for a little retracement here and a break there man uh yeah what else we got looking through the comments over here man i'm gonna have to go in a minute we got so trb might a good opportunity to get in before too long on its melt of recent. What the fuck is a TRB? Yeah, you know me. You down with TRB? I've never even charted it,

if we're being honest. Except for against Bitcoin. Whoa. It's giving you red dots already here on the daily I don't like it already tell you I don't like it even just from that but uh let's uh new layout watching my flow I mean that's the first thing I've seen literally with like red dots uh on on any alt on the indicator there. Let's do this. Got to get it off auto because it's super annoying.

I don't know what happened there, but that looks like it's heading to oversold. That's a big bearish divergence on the daily. See that? Lower high. I don't know what happened, but the signal, you know I love the divergences, but this, I mean, that's as clear as it gets. And it was, yeah, there was no way that was going to make a massively higher high. You were going to beat this. So there's your signal. I would wait till it's over. I don't know that it will be, but I'd wait till it's oversold and you see bullish divergence.

Maybe it gets down to the 50. I mean, I don't, you can't even draw levels on this chart because it went so parabolic, but here's your, I mean, this is your kind of buy zone right through here somewhere, maybe off this candle here,

48 bucks. I don't think it's coming down that far but yeah i just don't want to touch that now since i have uh ocd i have to label that or we'll never find it again uh yeah i don't know des what's up des link um i'm gonna find a way to get you a mclaren hat des i saw you asked in the and you you asked, and don't think it went unnoticed in the comments. We got to find you a way. I'll send you a DM. We'll figure it out.

Link is just gone, man. No bearish divergence there. It's just moon. Koti, man, I like that. I put that alarm on, so we should be good there. Let me see. I don't know where my chart went. What am I looking at link

still green dots still above the track line on every single time frame that weekly my god monthly green dots way above the track line just buy the dip so you know there's a bull market so, the dip you want to buy now is... And by the way, I shared this at the time. Okay, it missed by a penny, but there it is, the break of that range and the retest. You could have gotten in at $9.20. Here you are at 15. This was accumulation for literally like two years, man. Year and a half.

Insane. Insane. But everybody thought it had to go lower. At this point, I would try to buy around here, 11, 12 bucks on the tip. Guys, I got to go. That's all I got. Sorry. Sorry to disappoint you. That Move? Yes, I do. So yeah, I showed you the free newsletter. It's free. Scott Schilling, his free product. Can't believe it, right? You should go do it.

It's thewolfden.substack.com. It's right below. It's a free newsletter. I write it five days a week. It's free. It's free. If you like my YouTube streams, you can read my words. Trading alpha is down there as well. If you're actually actively trading this market, it's an incredible screener. This was fun, especially because I showed up expecting... My whole thing is I used to do solo shows all the time, but I felt like, to be honest, like I couldn't compete on YouTube. Like I can't do what Rand does and dunked a little bit about Ethereum today. It's not really my style, but hey. But I have my moments. I'm going to bring on the smartest people. We're going to bounce stuff back and forth, and we're going to figure it out. I want to talk about Bitcoin, get the smartest Bitcoiner. I want to talk about Solana, get Anatoly. You know what I mean? I want to talk about institutional flows,

get James Butterfield from CoinShares. I try to bring the best guests and extract the alpha from them. I want to ask people questions and get the fuck out of the way so that they can teach me. And then the byproduct is that they teach you, right? That's always been my approach. It's not as popular as what other YouTubers do, but it's what works for me. So today I showed up, long story short, I was like, NLW has got all this stuff nailed. Like I've been listening to his shows, whatever. He'll tell me about the ordinals. It's going to be great. Got dry lips right there. Yeah.

It didn't show up. So I winged it, but it was fun to be back. We used to rant every Friday. It was fun to be back, uh, doing it the way that we're doing it. And, uh, show you guys what I'm looking at and what I'm thinking. I mean, Charta Palooza, man. This channel grew because people came just to watch me make jokes and live chart and do this. It's not comfortable being that guy all the time. You know, because someone will see the chart and I'm not even buying it.

I'm not even thinking about buying it. It'd be like, you pumped that shit. Yeah. Yeah. Tenacious B says James Butterfield and Jimmy song dusting up on space. This was awesome, by the way.

Yeah. We had those dudes fighting. That's all I got for you guys today. I will be on Twitter spaces in 25 ish minutes i think i have another twitter spaces later with uh one of the altcoin daily guys and leah halpern and some other people and then i'm going on altcoin daily's channel i think that comes out sunday and then i have a meeting and it's just yeah it's wild anyway uh i made him deaf you mean by doing this bye felicia bye felicia i want my two doors good stuff what's this one that's dope that's dope

that's dope oh no i can't even hear that one. What did it say? Oh, no. Oh, no. We suck again. Man, these are so fun. Yeah, we used to have this one too. Congratulations. Play it yourself. I'm not going to do the music because then I get strikes.

Yeah. Anyways, guys, that's all I got for you today. Thank you for tuning in to Just Little Old Me without my guests. It's nice that a few hundred of you decided to listen to me, even though I totally bait and switched you and didn't tell you that was going to happen in advance. I'll see you all for macro Monday on Monday and on a multitude of Twitter spaces today.

Bye. Let's go.