The Wolf Of All Streets - The BIGGEST DAY For Crypto | Bitcoin Dumps And ETH PUMPS On Fake SEC ETF News (I’m Buying Altcoins)

Episode Date: January 10, 2024

What has happened with the SEC's Twitter account? Will Bitcoin ETF be approved today? What's going on with crypto? We will discuss all this and more with my guests: Eleanor Terrett (FoxBusiness), Haseeb Qureshi (Dragonfly) and of course, Chris Inks.  Eleanor Terrett: https://twitter.com/eleanorterrett Haseeb Qureshi: https://twitter.com/hosseeb Chris Inks: https://twitter.com/TXWestCapital ►► 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  ►►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   ►►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/   ►►NGRAVE This is the coldest hardware wallet in the world and the only one that I personally use. 👉https://www.ngrave.io/?sca_ref=4531319.pgXuTYJlYd ►►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  Follow Scott Melker: Twitter: https://twitter.com/scottmelker   Web: https://www.thewolfofallstreets.io   Spotify: https://spoti.fi/30N5FDe   Apple podcast: https://apple.co/3FASB2c   #Bitcoin #Crypto #ETF 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.

Today is the biggest day in the history of crypto. I am prone to hyperbole, but I actually believe that this is true. But it couldn't be the biggest day without us having a complete shit show within 24 hours of it happening. And that, of course, is that the SEC's Twitter ex, formerly known as Twitter, account was hacked, tweeted a fake approval of the ETF news. Then Gary Gensler had to correct it. We saw price go way up, then way down, $3,200 spread in under 15 minutes, and then Ethereum pumped. Guys, you couldn't write this if you tried. It's incredible entertainment. And now everybody wants to know what comes next if and when these ETFs are approved. Eric Balchunas says all systems go.

I tend to believe him. I have two of my favorite possible guests here to discuss it. Eleanor Tarrant and, of course, Haseeb Qureshi from Dragonfly. And on the back end, we got Texas West Capital, Chris Inks, to discuss the charts and what it means for traders. This is going to be an epic day, guys. Let's go. Let's go. What is up, everybody? I'm Scott Melker, also known as the Wolf of Wall Street. Before we get started, please subscribe to the channel. Hit that like button.

I'm just going to go ahead and bring the guests on right away because they have a lot more color on what the hell is happening than I do. Good morning, Eleanor. Good night, Hasib, over there in Singapore on the other side of the world. I mean, this is basically what happened here, Eleanor, right? We got 311 yesterday. SEC tweets that Bitcoin ETFs are approved. Questionable tweet had like the hashtag Bitcoin in there.

Apparently, the SEC was actually liking posts underneath responses that said like Bitcoin to the moon and things like that. If anyone thought it was real, it did look real at the time. Then Gary Gensler says it was a hack. Then the SEC regained control immediately, which is miraculous. And then the SEC tweeted that it was hacked and not approved. But it looks like we are back on schedule now, right? You're saying here back to regularly scheduled programming. Then, Eleanor, we're already seeing more fee wars today.

What the hell is happening, Eleanor? Can you give us the broad strokes, I guess, on what happened yesterday and what to expect today? Yes. So just a fun little bit of color. At the exact moment that the SEC tweeted that fake tweet about the approval of the Bitcoin spot ETF, Ellie Terrett tweeted, I see a nap in my near future. Oops. It was a long day yesterday.

And I'm thinking, OK, well, it's Tuesday. We're not expected to get these approvals until tomorrow i'm still at the office at this point i'm like oh i just can't wait to go home and just take a nap at 4 11 the exact moment that the fake tweet came out and so then of course the deluge came right and everyone's freaking out i have alerts on for the sec so when they when they tweet something or when gary tweets something it pops up on my phone. And I just couldn't believe it. I thought, okay, well, at first I thought this is something that Gary probably would do. The SEC doesn't want the media and people like the crypto heads to control the narrative, right? So they're probably thinking, let's push it a little bit early. So we're the ones still in charge here. So at first I wasn't surprised. And, you know, you see something come from an official account like that. You don't think twice to check whether that, to look at the graphic, right? I mean, a lot of armchair graphic designers over the last 24 hours have come in and said, well,

these are, this is nothing like the original SDC graphics that they use. If you go in, you can see the formatting is totally different. But from a journalist's point of view, and quite frankly, from, you know, Twitter users' point of view, when something comes from an official account, you're not, your first thought isn't, oh, that's a hack. So obviously, like you said, Scott, the SEC gained control back rather quickly. We saw Gary Gensler's tweet saying that the account had been compromised. And then a few hours later, we heard from Twitter security. I think Elon Musk said he was looking into it, that what had actually happened is that someone with access to the phone number that was associated with the SEC's account had somehow, you know, created a new password and logged in or had somehow just gained access. We don't know who this individual is using a third party.

So is that a website? Like how? We're not entirely sure. The language is still kind of murky. We're not sure what all the connections are. But essentially it says that this person was able to access the account through a phone number and tweeted this. But they didn't have 2FA activated.

Right. The SEC whose literal job is to protect investors and didn't even have 2 FA on their account. It's like Gary literally went out to a bar and gave a girl his phone number. And then last night, you know, we're looking at these tweets that didn't age very well, right? You've got this tweet from October from Gary when it's cybersecurity awareness bonds, literally saying, remember to use strong passwords and phrases and set up multi-factor authentication. So it's a little worrying that our market overlords don't have the cybersecurity

safety protocols in place that they preach on Twitter every day. Yeah, I don't know if you saw, but Coinbase, actually, their executives, I don't know if it was trolling or serious, but they said, hey, guys, we're pretty good at this security thing if you need some help. And they literally like, hey, Gary Gensler, S-E-C-O-V, serious offer. As a crypto exchange, you've had a lot of experience with security protocols. You get the idea. And you're right. I mean, the tweet storm, Eleanor, surrounding this was amazing. People dunking on old tweets, obviously by, I mean, there's just so many of them. It's almost astounding, like, you know, unusual whales pointing out, careful what you read on the internet. The best source of information about the SEC is the SEC. I think

that was in response to the Coingraph intern tweet that was fake recently. Of course, you know, we have Senator Bill Hagerty saying, listen, guys, what happened here? Guys, I mean, it's literally what they just did. Now I'm trying to find the tweet, but it's from Gasparino. What happened here, the big ETF announcement hack would have violated new SEC Gov rules adopted in July that require a high level of cybersecurity risk management. So now the SEC has to investigate the SEC for wrongdoing by the SEC and manipulating the market, which is what the SEC oversees. Haseeb, I mean, you're over there. Were you asleep when this happened? I was, actually. I woke up seeing just a torrent of news.

And the first thing, of course, I see is the news of the Bitcoin champion. I'm like, oh, OK, let me check the markets. I'm like, wow, much down. Why does that's not what I was expecting. Oh, maybe to sell the news moment. And I keep reading and I realize, oh, my God, what an absolute clown show the last few hours have been. And then, of course, you know, I saw the story of, oh, there was this phone that was, you know, phone account was taken over. That's a SIM swap. So SIM swapping is something that happens all the time in the crypto industry.

And maybe this is actually a good teachable moment for a lot of the folks in the audience who may use crypto and have their phone as their second factor. Using SMS as your second factor is not safe, period. There are so many people in crypto who've gotten hacked, who've gotten scammed, who've gotten impersonated, now including the SEC, because they had SMS as their second factor. SMS is not secure, and it's very easy for anybody who is motivated to go to your phone company and call them pretending to be you and find your information on some third party, some data dump on the dark web or something and say, oh, I'm you, I lost my phone. Please transmit my phone number to this new phone. And they do it and boom,

they can now log in as you. That's exactly what happened to a bunch of people who've gotten some swapped in the last month or so. And they didn't even have to have their number to authenticate. Well, notice what they did was they did account recovery. They did account recovery with the phone. Right. So they had the SMS to be able to do camera. Okay. Now, when, when we talk about two FA, we mean non SMS to fa, right?

Not allowing somebody exactly using Google Authenticator, anything, anything but SMS. So this is in the FCC's recommendations. For what it's worth, I don't remember the last time, especially, you know, certainly from a company wise standpoint, Fox is very, we're obviously very good with our security here. I used to complain all the time how annoying the 2FA thing was. I understand now why we need it, but I don't know anything, any kind of, you know, Twitter, Instagram, everything that, you know, needs a login these days has 2FA. I don't even remember the last time that I couldn't opt for 2FA. Yeah, I don't, it is crazy that they opted out. So listen, I think we've established here that the SEC completely blew this. It's laughable. They've made themselves a meme here and it's well deserved. But we did get a hint as to what might likely happen. What we saw. I don't really want to get too deeply into short term price. But if you were looking at the chart, I mean, this is literally a five minute chart. It topped at 48,000 and 15 minutes later, it was at 44,700. You're talking about $3,200 candle spread, immediate move up to the upside, then a huge dump to the downside,

and Ethereum went up, and we had all this craziness. The message there to me is don't trade the volatility around this event to everybody out there. You should already be positioned for this. You should be ready to go. But if you're using leverage and trying to trade about this, around this, especially if you saw what happened yesterday, you're probably going to get wrecked. But Eleanor, this has given a little more time for these fee wars, right? And you kind of mentioned this. I don't understand this. This is like literally, I think I tweeted, by tomorrow, they're going to be giving you a free Tesla and a date with their sister to choose their ETF instead of someone else's there's no way

any of these companies stay in business unless they are the single one or two that capture all the AUM I called people in the industry they said doing the math here you got to have three four billion under management with these fees just to break even yeah right so what's going on here I that's a good point and, I think it's interesting, right? Because they're marketing these things like there are retail investors who are going to see these low fees and say, oh, like jackpot, you know, this is my yard sale. I'm going to go in and do this. But with an ETF, you're buying through CFAs, right? Financial advisors who know the deal with this kind of stuff. So they're going to hopefully, if they're a good advisor,

they're going to point you towards the one that's likely to have the best flows, probably has good infrastructure in place already. So and if you notice the two crypto specific ones, right, so you've got Bitwise and I believe it's Grayscale. So Grayscale hasn't, they're the only ones that haven't budged, come down in their fee or even putting in like an after waiver. Do they have an after fee waiver?

Yeah, they have no waiver. They have a whole different story. Right. They've got 27 billion already in AUM and they're coming down from 2%. Right. Well, I mean, they hold the market share right now. And I think they're betting that,

you know, there's, because there's this whole thing with capital gains tax. If you pull out of GBTC and you've been holding it for a while, you're going to pay monumental capital gains tax by the time it takes for you to get into one of these other low fee ETFs. So it's interesting what they're doing. It's almost like headlines, like, okay, we can provide the lowest fee, but in the long term, is that really going to help us with attracting customers, attracting flow?

Yeah, I think there's this little immediate battle for AUM, the view that whoever wins in the first week or two or month is going to win long term, but they're going to lose the war if they don't get enough. So I think that this is a really dangerous game they're probably playing. Let's pivot to Haseeb. You and I have talked many times. You always have a vision of what's coming for the market. We talked in Singapore in September.

You were right about everything you said. You said, listen, you know, we're thawing out. You made the great point that nobody cared about SBF in Asia already for six months and that people had moved on. How big is this? I mean, we all know what's happening today, right? There's an assumption. But how big long term do you think this is of all these sort of landmark events you've seen in crypto before? I called it the biggest day. Maybe that's hyperbolic at this point since we all know it's happening, but we've waited 10 years.

Yeah, look, I'm sort of of two minds on this. On one level, an ETF is very important for legitimating capital flows that wouldn't otherwise easily enter into the industry. And that's important just in terms of the raw dollars that are going to enter into Bitcoin and eventually Ether and other assets that may eventually become available through ETFs. On the other hand, it also is kind of a nothing burger at the end of the day. Like if you saw, you know, we had a good 10 seconds or I guess 10 minutes of thinking that ETF was approved and Bitcoin went up 3%. So at this point,

I think we can more or less assume that it's priced in. Everyone knows that there's going to be a Bitcoin ETF. So the crypto world is already in that future. And so, okay, in a world where there's a Bitcoin ETF,

what are the problems ahead of us as an industry? And the answer is basically the exact same as they were yesterday, which is that we still need to figure out how to make this stuff scalable. We need to get into the hands of many more users, making it easier for people to invest in this stuff. Honestly, we already did most of the work in creating Coinbase and Kraken and Binance and all these now fairly easy to use and easy to access companies and on-ramps relative to what they were five, six years ago.

It's night and day how difficult it is or how easy it is today compared to what it was six years ago to get into the industry. Now it's going to be even easier for financial advisors. But at the end of the day, the thing that justifies all those financial flows is that we actually solve problems as an industry and keep getting better and cleaning up our shit. So that's what I focus on more or less. Obviously, the news is very exciting and animating,

especially when it's as ridiculous as what we've seen in the last 24 hours. But at the end of the day, I think markets are forward-looking, and they already know that the ETF is coming. So the next thing I think on the horizon for markets is probably the Ether ETF and what's downstream of that Ether ETF. And I think that's perhaps part of the reason why we've already seen some narrative rotation. There's like, oh, OK, well, Bitcoin ETFs approved.

It goes up 3%. Maybe it goes up 3% tomorrow or whatever. But what's the next game to get excited about? And the answer is probably the exact same moment. It was the exact same moment. I mean, it was the biggest hourly volume candle we've had on Ethereum against Bitcoin in as long as I can see. And it went from 0.047 to a top of 0.053. Not huge, but ETH has been dying here for months. I've been saying there's going to be a rotation. I didn't expect the rotation to be 13 seconds after there was the approval of Bitcoin spot ETF.

But I think you're right. The Ethereum spot ETF is the next narrative. Eleanor, I mean, we've seen people, I think Standard Charter said they think the Ethereum spot ETF will be approved in the first or second quarter this year. I think that's aggressive. I mean, what are you hearing? Well, we know that the applications are in. I would say that's probably a little aggressive, but now that Bitcoin spot is essentially, in theory, going to be up and running out the way, it's kind of like establishing the structure for ongoing things, right? So you've got the Bitcoin spot. Now you're going to have Ethereum spot. Like they know exactly how to do it now. The pathway has been paved by those who did the Bitcoin spot.

EGF, the SEC knows what it's dealing with. They know the forms. They know the format. It's already been done. So I think while the timeline might be a little too soon, but I think probably by the end of this year, we could see one because now they kind of know what they're dealing with. In terms of will there be an XRP single product spot ETF, I know Stephen McClure got the XRP army. I texted Steve the second you said that. And I was like, dude, he was like, I'm not saying I'm going to do it, but somebody is. I said to him, yes. I think you saw Eric Valchunas commented and said, oh, you've woken up the XRP army. And I said, you're the new patron

saint of the XRP army. I understand the point point he's trying to make, though. I mean, I think XRP now you're seeing it included in the Grayscale Digital Large Cap Fund since the SEC lawsuit. I mean, it's still ongoing, but the gist, the big picture is that, you know, XRP in and of itself is not a security. And, you know, you saw it relisted on major exchanges and now included in the Grayscale Digital Large Cap Fund. So I think the point he's trying to make is that, you know, we will probably see more of XRP, you know, from a fund perspective. Will there be a single product spot ETF for XRP?

If there is, it's not going to be anytime soon. We know Gary hates altcoins. We know he took Ripple to task over XRP, so he's not a fan. Gary likes Bitcoin. And, you know, I don't know how he feels about Ethereum because he keeps kind of switching his position on that. So we'll see. But in terms of other single product altcoin spot ETFs, I think we're going to have to wait a while for that. To be clear, I don't think Gary likes Bitcoin either. He was fighting the Bitcoin spot ETF

until a judge forced him to recant. And with Ether, I do think with Ether, it's probably too late. I mean, they have Ether futures ETFs that are regulated by the CFTC, which is more or less a concession by the SEC that, hey, this is not under our jurisdiction. If they thought that Ethereum was a security, they should have fought that a while ago. So Ether ETFs being regulated by the CFTC, to to me says that SEC is not going to fight that fight. But with Ripple, I mean, they still intend to. They did very clearly they intend to appeal. They think that the Terra Luna case under Rakoff was contradictory to Torres' decision.

So they plan to fight this to the death. I think anything beyond Ether is probably going to have to be after the SEC rotates out. And if there's a 2024 election that leads to a change in leadership, that's probably the only chance that we get more altcoins. Yeah, I agree. And Hussey, we've obviously talked to death what could happen and flows and all these things. I don't want to talk about that. You made the great point, I think, which is that, OK, we know this is happening. Now it's more investable. Don't we still need the killer app i mean don't we still need these millions of people

to come in and actually start using this thing what's happening on that front what's going to really be the narratives that drive this cycle beyond the etf the etf trade is done today as far as i'm concerned right then we see it like a having have this really long-term effect and obviously we get inflows but that's not a bunch of people who are going to come in here and start using dexes or uh in-game assets and all the things we're excited about yeah so there's there's kind of two sides of this industry more or less right a good half of this industry is just bitcoin and you know if you ask the question of how does Bitcoin become more Bitcoin, how does it become the true digital goal that everyone is excited that it may someday become?

And to me, I think the answer for that is honestly just time, just time and less FTXs. The less of that that we have, the better it's going to be and the more naturally Bitcoin is going to grow into the mantle that it's more or less than promised. I think it's just a function of time and normalization. For everything else, a good half of this industry by market cap is all the other shit, which is, how do you get this in the hands of millions of users? What about stable coins? What about gaming? What about DeFi? I think there, it's a much more complicated picture and a much more mixed picture, depending on where you look and where you go. There was a blog post that Vitalik posted a few weeks back talking about, hey, we need to go back to our cypherpunk roots in crypto.

The crypto sort of strayed from the original vision that Satoshi Nakamoto handed down all those years ago. And he contrasted his vision for crypto going back to decentralization and fairness to Justin Sun and this kind of hyper commercial capitalist like screw it, let's just do super low fees and let's get this stuff in the hands of users. Ironically, a lot of what we are talking about right now is more the Justin Sun ethos of what do we actually do to get stable coins in the hands of hundreds of millions of users? And in order to really get there, I think you need some combination of the Vitalik, you know, sort of come back to come back home and really just think about how do we improve the technology

and make this credibly neutral and fair? Holding on to that heart and soul of crypto is really important because if you lose that, you lose the people. People no longer believe that crypto is not just scams and get rich quick schemes, but they believe, hey, you guys are actually you really have a vision. A lot of what animated people and got them excited about crypto over the last few years was this big Web3 vision. And maybe a lot of it didn't turn out somewhat hyperbole, not all these things came true, but it was something that people really genuinely rallied behind. And then I think on

the other side of that, you've got the just practical, can we actually get fees low? Can we actually get the UX really great? Can we make on-ramps really easy in different countries around the world, not just in the US, not just for financial advisors? So I think there's a lot of different angles to be excited about, but for all intents and purposes, and I told you this late last year, I think this is going to be a very good year for crypto, both in terms of technological advancement and in terms of price action. Obviously, we're already seeing that. Yeah, I think the tailwinds right now are astounding. You brought up stable

coins has been one of the large sort of topics to me that's been the killer app. And like you said, we just need to get it into people's hands. Eleanor, that's one of the few things that we seem to actually have movement on legislation about. I don't have much hope that we're going to get anything done, but you've been covering it very closely. Do you think that the spot ETF, the heat that the SEC is under, any of this can actually start to push legislators to give us some clarity here? Because, listen, we can blame the SEC all we want,

but a lot of people will also point out that the SEC does whatever they want until Congress makes a law and forces their hand. And we haven't seen anything get through Congress, Senate, President, none of it. point out that the SEC does whatever they want until Congress makes a law and forces their hand. And we haven't seen anything yet through Congress, Senate, President, none of it. Yeah, I think we have to take into account the timing. I think the bills came into effect, at least the preliminary drafts and the out of committee vote came at the end of the summer last year. And then obviously, had the debt ceiling drama and some other things that they were dealing with towards the speaker drama for one towards the end of the year.

So those crypto bills were sort of blown out for the end of last year. And there's hope that they will get picked up again this year. I think with the spot ETF drama, you definitely see the House Republicans and the Financial Services Committee and the Senate Banking Committee members already writing letters. They're already saying they're going to

investigate or they're hoping the SEC will investigate. They're going to haul Gary up in front of them to answer to this. I think this is just another tool in their toolkit to be able to say we need, you know, crypto is kind of hanging in the balance here they were screwed over again and uh you know there's legislation here that can help them out so so let's push on for that i know mchenry is is leaving um but you know you've got people like bill huizenga french hill who are obviously going to take up the charge and and they're on crypto's side so i see i see that being not necessarily a priority i I see them getting to it. Will it be in a timely fashion? We have obviously the 2024 election coming up, so that's going to take a lot

of time. There's some more kind of like funding debt ceiling drama, I think, coming up as well in the next few weeks. So obviously there's other priorities, but I think it's definitely going to be part of the conversation. And especially with what happened yesterday, there will be more impetus, I think, on Congress to do something. I'm really eagerly awaiting Elizabeth Warren's tweet blaming us all on crypto. These hackers attacked us. Did you see the tweet from Joe Saluzzi? He's saying, if I was the SEC, so if I was Gary Gensler, I would issue a statement today saying that the SEC will not be approving a spot Bitcoin ETF, and also that they

will be rescinding approval of the Bitcoin futures ETF until surveillance measures are improved. It's not too late, Gary. They're blaming the crypto industry. They blaming crypto pros for a hack an sdc hack this is not this is not your crypto bro who wants to get you know an sec or a fcc approval for a bitcoin spot etf like why are you blaming an industry for a hack that happened on the sec's watch you know there was also an internal thing there's a a Bloomberg story that also ran saying that the title of the Bloomberg story was SEC account hack amplifies concerns over security at Musk's X. It's like, what are you tired of? These guys didn't have 2FA on their account.

There's nothing to do with that platform. There's nothing to do, you can go to Facebook, you can go to any account. If you don't have 2FA, yes, if somebody SIM swaps your phone, they can get into your account. That's on you. It's not on any platform. It's ridiculous. They have like thousands of employees and not one person at the SEC with all of the hundreds of millions of dollars in, what's the word, budget that they have allocated

to them, not one person's job was to like check whether they have 2FA enabled on their socials. Right. And listen, I i mean it's really important what they tweet moves the market dramatically much more so than the people that are even regulating yeah and you and you look at it from the other hand right if this was a wall street firm or if this was a crypto firm that did this the sec staffers would be on the phone trying to figure out what the heck happened in microseconds. But because it's them, there's not much movement. And obviously, we may or may not see consequences of an investigation into them. Yeah, I showed a tweet before from Carl Quintanilla. I mean, it literally says that they've passed rules at the SEC that if you have

a cybersecurity hack, it's your responsibility and it's your fault if the market moves. So now what do we get? The SEC investigating the SEC for wrongdoing by the SEC? I mean, is that literally like what a clown show we've come down to? I will say, though, I think the silver lining around all of this is eight months ago, nine months ago, when they were coming after Coinbase and they were coming after Binance, we had a real fear that the SEC could massively damage or end crypto. Now they're a joke. I mean, you used to be afraid to take shots at like the regulators.

Now it's, I mean, you got Garlinghouse over here. Days like this remind me that the SEC should be investigating itself for multiple things. Crypto Twitter remains undefeated. I mean, Sailor, Bitcoin will be the only thing ever approved twice by the SEC. Tyler, today the SEC Gov continue its quest to harm U.S. investors. Time for the SEC to hold the SEC accountable.

Metalaw, man. Hey, Galey, thanks for the tip. One follow-up question. What's a crypto asset security and where can I find the definition in a statute? Right. I mean, listen, like everybody is clowning them. I've been tweeting fire Gary Gensler for six months. Nobody's afraid of them anymore.

Isn't that like a benefit, I think, to the industry? And they keep losing in court. Either of you. I mean, I'll see. I mean, look, the reality. Yeah, look, I mean, we're in RIA. We're regulated by the SEC. In general, it is not a good idea to take potshots at your own regulator when you're a regulated institution like we are. That said, we happen to live in a great country where you can do that and you have the freedom of speech to be able to criticize the people who are in power.

And this is one of those places where, normally I give regulators the benefit of the doubt. They have hard jobs. They have a lot to oversee. But Gary Gensler has personally made it his own individual vendetta to go after the industry. And everything that he's getting right now, I think is more or less just desserts. The problem with all of this at the end of the day is that there are very, very weak oversight mechanisms over the federal

agencies, right? Technically Congress is supposed to oversee them, but there's not a lot they can really do. There's not a lot of teeth. And so the most that you can really do there's not a lot of teeth and so the most you can really do is just drag somebody and so in some sense what we are doing in criticizing the sec and taking them to task and making memes about them is kind of the only thing we really have in this democracy beyond the white house basically going and recalling somebody which is not going to happen obviously especially not this close to an election cycle um This is really the only mechanism that we have as a check on the SEC's actions. Congress can't do anything.

All we can really do is make it harder for Gary Gensler to have much more of a career than he currently has. I'm thinking of my last interview I did with Mark Moss, you guys might know, and he literally said, I have my Bitcoin and my memes and I'm going to war. This is like two years ago. And it's so true. I mean, that's literally what we're doing here. Eleanor, is there any chance this thing gets rejected today? Like, are we even at the 1% chance at this point? Or I guess delayed more than

rejected? I mean, I hate to talk in percentages. And I hate to make predictions because it just scares me. But I would be very surprised if we didn't see an approval today. I think the SEC already has egg on its face from what happened yesterday. If they say a denial or a delay, you know, maybe they can get away with the delay of a day or two, but at the end of the day today is January 10th. It is the deadline for them to make a decision on ARK 21 shares. So I would be very shocked if we didn't get some kind of approval today. I think we should probably watch the SEC website for incoming 19B4s and not take seriously anything we see from the SEC's official Twitter account.

I don't think we'll be getting a big media announcement about it today. Yeah, I think they blew their chance at that. In the spirit of crypto, I just checked the prediction markets on PolyMarket. And there's not a ton of liquidity. There's maybe $8 million. It was $85 the other day. Yeah. It's $83 right now.

So it's gone down a little bit. And there's a separate market for will the SEC delay the Bitcoin ETF decision. And that's right now at 28% yes. That's significant. That's more than I would expect. I mean, I think we get approved. The thing is, I think we were discussing this yesterday, but I think everybody's instinct is just PTSD with Gary.

Like something bad has to happen because they would never let this happen. We all want to put on our tinfoil hats. But when you listen to Eleanor and you listen to Eric Balchunas and you see what you guys have been reporting and the amount of resources, time, money that the SEC has used to get this done

and that these companies have, this would be the lawsuit of all lawsuits if for some reason they reject it at this point. I just don't see how they can get out of it. And even the flip side of that is I think that Gary takes a victory lap here. I say it every day, but he says, I like Bitcoin. I always liked it. I just wanted the trusted Wall Street institutions

to approve. And that's why we've denied it for so long. Now we have BlackRock and Fidelity guys, right? There's just, I mean, it would be an absolute disaster if they rejected these today, Eleanor, right? I think so. I think it would be. I mean, I don't know if the lawsuits would go anywhere. You know, I think these companies would probably sue or the lawsuit of all lawsuits, like you just said. But at the end of the day, I keep saying this, it is the SEC's discretion to approve these things. But I do think that at this point, you know, Gary probably wants to own it a little bit at this point, too. You know, like, oh, I was the one that brought Bitcoin spot ETFs to the masses. I was the one that democratized crypto, not crypto, Bitcoin.

So I think there's there's some, you know, he does want to take a little bit of a victory lap there as well. But we've seen him say countless times he's hidden behind things when he goes to Congress. He says, oh, I can't comment on an ongoing investigation. So let's hope he doesn't do that this time. And there's no bearing on the issuers who have put so much time and effort and the SEC staff, frankly. I mean, at the request of Gary, the SEC staff has been putting in man hours for this thing, working with the issuers. But for what it's worth, I haven't heard any drop in the optimism from the issuers. They still seem pretty optimistic that this thing is going to go through today. And I think if there's any change in that, then we'll know.

Yeah. Do we have any idea what the expected flows are? It seemed only a week, two weeks ago that there was this consensus it would be a flat launch. It would not be that much, maybe a couple hundred million. It would not be as successful as BidO was when it launched. Then all of a sudden last week it was BlackRock has 2 billion lined up. Bitwise has 200 million lined up. Price action always reacts to what happens versus expectation. It's not in a vacuum. It's very hard for me to set that expectation at this point. Do you have any concept of what people are looking for in the first week, month,

six months, year? I've seen a huge, huge scale. Hasib, have you heard anything? I'm not the person to ask. I think it's an Eleanor question. Honestly, I was going to say, I think that might be a you question, but I think that might be an Eric and James question. I'm not entirely up to speed on the flows, but I think the consensus for BlackRock at least was something like 200 billion, Scott, if that came out maybe a day or so ago. So I mean, we're not talking small numbers here. Yeah, I think that somebody said yesterday or two days ago, we had Matt Hogan and Dave Nadeg, who are two ETF experts, obviously one of them from Bitwise. I think the most successful launch ETF of all time was like $5 billion in a year. So if we do $50 billion, we're at $10 billion.

And that was the NASDAQ, like the Qs, right? So I think we have an asset that's 1 20th that size. And we need to do 10 to 20 times that. It's a pretty high expectation, I think, to do 50, 100 billion. But we are seeing those kind of numbers. What happens next if we do get the approval, by the way? We had VanEck on TV yesterday. I think he sort of slipped.

People said, I don't know that he slipped. I think he just is confident. These will be trading Thursday. Are we going to literally see these on the market tomorrow? Yeah, unless what happened yesterday delays the trading, maybe there'll be an approval. I'm not saying I know anything at all, but maybe if anything's going to get delayed, maybe it's launch date, but I don't know that. So tomorrow is Thursday. If all goes as planned, we'll see them start trading tomorrow.

I will tell you what I know, and that is that we have michael sunshine on the uh on with neil cavuto and charlie gasparino tomorrow in the 12 o'clock hour he is being uh he's stationed down at the night sea which is where the etf is set to launch so i haven't heard any changes there so as far as i know it's still a go for thursday we also have larry fink on with charlie on friday so that should be a good interview as well uh you want a little inside baseball. I'm in touch with Sun and Shine's team constantly. And they've said he won't be doing any interviews until they get the approval and they'll let me know. And I also had and I also had the CEO of Bitwise who we've been trying to get on. We had Matt Hogan yesterday and he was like, how about maybe Thursday?

OK, so I would say that just, you know, reading into that, there's a lot of confidence that these will be trading or at least approved by tomorrow. Even if they're not trading, I think they would both speak once there's an approval. Hasib, is there anything else around this

that's exciting to you or should we just put the ETF in the past and move on to the rest of it, man? I mean, I will say, although it's exciting to kind of, you know, be looking at all the micro before game time, I'm not a trader, neither am I a journalist. For me, I'm just watching how the industry responds to all this. But from my mind, at the end of the day, we're already in the world with the Bitcoin

ETF. That's the world that you and I have been waiting for for so many years. And we're there now. And you're looking at little game day calls and seeing okay there's gonna be this player that play but one way or another you know by next month either way regardless of whether some crazy shenanigans happens tomorrow um there's going to be a bitcoin gf so i i think for us as an industry it's a question of how do we move forward how do we actually get done how do we clean up our act and make sure that we're deserving of all the flows that you're alluding to that i i i actually tend to agree i think are likely to come not as a deluge but over time as financial advisors get more and more comfortable with this asset class in the storyline do you think that we've finally crushed all the

contagion narrative of the past cycle i mean you know you know, does the ETF finally put SBF and Mashinsky and CZ, by the way, who I don't put in that same category, but, you know, is this all behind us? Can we move forward without thinking about any of that anymore, now that we've got Larry Fink in the mix? Yes and no. I think, look, the reality is that there's still a lot of skeletons in the closet door industry. And I think anybody who understands it as closely as you and I do knows that. Now, none of them I think are anywhere near the scale of what SBF or all the crazy sanctions violations of Binance or what was happening at Celsius. These are

a totally different scale than I think anything that's really happening today but there's still a lot of stuff and still a lot of just kind of norms and ways in which we kind of uh expect each other to behave in the crypto community that i think really needs to evolve for us to kind of you know earn our way into the next stage of development um i do think this year is going to be a good year and every time a retail cycle kicks off and to be clear clear, I don't think we've, although price action has been very good, we haven't really kicked off a retail cycle yet in the way that we did in 2020 or in 2017. If you look on the App Store, I was actually just looking at this earlier today, Coinbase is number 26 on the US App Store right now.

They were number one, right? At peak cycle and like for a while. That's right. They were number one basically continuously during 2021 right so we we are not in the phase of a retail frenzy the people you know who know about crypto and who are in the crypto world they might say oh i'm buying back in i'm really bullish things are great but we're way before the stage where taxicab drivers are giving you advice on what tokens to buy uh but i think we will probably get there sometime in the next year. Do you want to know why Coinbase? Yeah. When I had those conversations at the time with CZ, sadly, Steve Ehrlich of Voyager,

a lot of the other CEOs of the exchanges, they were all number one because of Doge. Right, people? We can talk about the Bitcoin spot ETF and this being the way that we're going to bring all these people in, but that's not how it's ever happened in the past. People find their way into this industry and even back to Bitcoin through the memes and the NFTs and all the ridiculous things that Bitcoiners hate, but that really brings them. I remember Steve Ehrlich telling me, we have a three-month waiting list.

We will never get enough customer service to sign people on because they all want to come trade Doge. CZ said the same thing. CZ's like, I'm a customer service agent. There aren't enough people in China for us to hire that would be able to handle customer service right now. I think the proof in that is apparent from yesterday. I mean, the funnest part for most people in the crypto community was reading those memes from yesterday, blasting the SEC. And I think that really brings the community together. So you talk about community and people coming in for a certain reason. I think a lot of people do it for the community.

Yeah. I'm just hoping that in this case that people don't laugh at us, they laugh at the SEC instead. This is definitely one case where this was not on us. This was definitely not on us. We've taken a lot of Ls in the last couple of years and we deserved most of them, but this is not one of them. This is not one of them. And thank God for that. And thank God. They'll find a way.

I know they'll find a way to play with us. But Eleanor, did anything, did anything break, you know, while we were, while we were here today? I'm going to let you guys go. Did we get any big news in the last 40 minutes? No, let me just check my phone. I don't have any incoming texts though. No, I think we're good. I'm going to go to bed. Yeah, not on my phone. I don't have any incoming texts though. No,

I actually went to bed. Yeah. Not on my phone either. Although nobody would tell me early, but you know. Yeah. They're like, he's asleep. It's he's in Singapore. It's 11 o'clock. All right, guys. Well, guys, thank you so much. Tomorrow, hopefully this will be a hindsight conversation for myself. I have Mark Yusko tomorrow and maybe Hunter from Bitwise. So hopefully we'll be talking about what happened and we can put this in the past. I have Mark Yusko tomorrow and maybe Hunter from Bitwise. So hopefully we'll be talking about what happened and we can put this in the past. I'm much more excited to be in the Hasib camp of trying to figure out what crypto is actually going to do over the next few years. And I'm sick of talking about the ETF. Eleanor, I don't know what you're going to do with yourself. Ripple's done, ETF. Maybe you'll finally get that nap.

It's time to retire. Maybe you'll finally get that nap, but I retire. Maybe you'll finally get that nap, but I'm going to have to find a new beat, guys, within crypto. I don't know what it'll be, but you'll be hearing from me. I guarantee we'll have a new narrative within 48 hours that will be, it's going to be the Ethereum ETF. That's my words. Guys, follow Haseeb and Eleanor, please.

You want to know what's happening in the industry. Eleanor, certainly if you want to know what's happening with Breaking News, she's my number one source. And you're always there to correct me when I'm wrong too. And I, I need that. So I appreciate it. Well, recently, I think I said one last week and I was like, this could get approved today. You're like, no dude, not hearing that.

And, and I appreciate it. We need you. To be fair, you were citing the Reuters report. So yeah, I don't just come up. I try not to come up with my own theories anymore. That never goes well. I leave Hasib for that. All right, guys, thank you so much. We'll be back, obviously, with both of you,

hopefully, in the very, very near future. Have a good night, Hasib. Bye, guys. Take care, everyone. And now we can talk about what's actually happened yesterday in the market. I know I'm dying to look at these charts with Chris because holy crap, what a joke it was. Chris, I showed already, you know, the Bitcoin chart, which I mean, that 10 minutes or 20 minutes, whatever it was, just astounding.

This is the five minute chart. I showed it before. Up to 47 died and down to 44.7. I was trying to timestamp it, but it really doesn't actually line up. Like, I don't know what, who knew what, but it's very clear to me that this was somebody hacked that account with the intention of trading around it. So I don't think you can extrapolate that much information, but maybe I'm wrong. I, you know, yeah, I don't know, man. You're asking for some serious, some serious hard time federally, you know, if you were to do that. I mean, it's not just the hack itself, but then profiting off it. I mean, my God, you're just going to hit, you know, you're just going to be hit by, you know, just charges left and right. I don't know. But, you know, I mean, at the end of the day, a lot of people are like,

oh, well, that's showing us what's going to happen when he gets approved. It's all going to go down. I don't know that it necessarily shows us that. It's a news event, right? And what do we always talk about with the news events? We talk about how I get a knee-jerk reaction, and then usually later that day or the next day or within a few days, it reverses and goes the other way, right?

So I don't know. I didn't even see it. It swept the low. I didn't even see we had a volume increase there in that low sweep because it's a five-minute chart. I don't know i didn't even see it and swept the low i didn't even see we had a volume increase there in that low sweep because a 15 five minute chart i don't look at them yeah yeah exactly so i mean um you know we'll see what happens your big picture is still the big picture i mean uh all we did i mean if we just zoom out a bit all we did was come back and test the previous range resistance as support. Right.

And so in terms of, if we were to scroll, if we were kind of just zoom in here, I mean, if we're looking at this and we say, okay, well, if this is going to be accumulation here,

this is your jump across the Creek, which is your big candle, big volume through that supply. This is the back of the edge of the Creek, which just, again, it's just a fancy way the back of the edge of the creek, which just, again, is just a fancy way of saying a retest of previous resistance as support. And so, you know, still looking up, you know, higher here overall. I mean, I've got a pretty conservative count here. I've got a 1.2, 1.2 rather than 1.2 overall. And so 3 is a minimum expected, you know, around 52,000.

It could go higher. You know, again, it's minimum expected. But because what it is, it's the, if we come here, we just measure out wave 1 and then a flat here for wave 2. Yeah, that kind of gets us, I'm just going to grab you real quick, but that gets us the 1.618 extension. It's the first thing we look for for wave 3. They can go above quick, but that gets us the 1.618 extension. It's the first thing we look for for a wave three. They can go above there, get the 200%, the 2.618, 3.618, which is why I've been warning our people over at TWC to not just assume it has to stop right there.

Yeah, we had a good case yesterday. Wick yesterday was on there, and he thought 58. Yeah, exactly, exactly. So, you know, you get it through there, yesterday wick yesterday was on here and he he thought 58 so yeah yeah exactly exactly so you know you you can you get it through there and it just kind of keeps going up there um and so once again you know if we're just looking here at kind of this uh this pull here see right about there i mean 200s up there around 62 uh 2618s up at 82. Not saying it's going to go to 82 or anything like that, but, man, it would be something to see, wouldn't it? Yeah.

But, yeah, you know, so, I mean, nothing, you know, again, nothing's changed. It's all the same thing it's been since, you know, since I've been talking about this back here at the beginning of accumulation in June of, you know, 2022 there. And so I think we're still looking good. We're, you know, we're just kind of, we hit, we hit kind of almost the top of this channel that's been coming from the,

you know, the November low of 2022, you know, hitting the support there. I mean, I don't know. It's hard to be bearish. It's hard to be bearish when you look at the chart rather than going off, you know, your emotions and what, you know, a lot of people are dealing with the emotions of, Hey, we haven't seen this big, you know, pullback to 30,000 or 25,000 people are very much emotionally attached to those levels. Um, but you know, again, as I pointed out before, we went sideways here for almost seven months, Almost seven months of sideways, guys. This effectively does the same thing as some big, huge pullback. So all we've done is continue higher highs, higher lows. Okay. I'm not going to say I was necessarily surprised, but when Bitcoin went down,

it wasn't into stable coins. It was seemingly into ETH, right? I've been screaming about ETH. You've been mentioning it, but I didn't expect it to happen in the moment. I showed this before, but quickly, I mean, ETH pumped massively on the biggest volume we've seen on the ETH Bitcoin pair here on Binance and still continuing up, right? I mean, it bottomed at 0.047, currently at 0.053, but I've shared this so many times, it's making me nauseous. I'm going to be honest. But I wrote about it again on Monday in the newsletter. You have the weekly oversold for the fourth time in history, sweeping yesterday, right before this, the support of all supports, like sort of the last support here all the way back to June of 2022.

And we have massive now, assuming the candle stays like this, the week massive bullish divergence on the weekly RSI. Oh, yeah. I don't know if it'll last, but man, like people jumped right on to ETH after this. Yeah, you know, this is something I talked about where we were looking at potentially maybe a way for here, but we'd come down pretty close.

I said, if we break down, you know, it's possible we could be looking at the 50% here and this just becomes a large flat. And that looks like it's what it's doing. It doesn't have to hit 50, but you'll see the 50% retracement aligns with the weekly S1 pivot right there. So even if this doesn't hold at the moment, I'm looking at that 0.04349 kind of area at that S1 pivot on the weekly to actually be the point at which we get that rally back up. But right now, I mean, like you showed it up there you've got this bullish sfp right now printing

off what is this uh june of 22 swing low there so i mean that's that's the low right i mean that was the low the only thing that happened with bitcoin is it went down one you know with a terminal shakeout with the whole ftx thing but that was uh you know, Ethereum's low right there was June of 22. So, yeah, I mean, I like this. It's really encouraging. The weekly candle looks great. I think if somebody's trying to trade this, watch for an impulsive breakout above, and close

here above this weekly pivot here at around 0.06 or so. If we can get that, that signals that, hey, we're probably going to continue to rally on up there up to 0.12888 at least, especially from right here. Breaking out above weight B, there'll be the added confidence that we actually need based on the count. But if we can get that impulsive breakout above that weekly pivot, I think we're good to go on up there. So what does

that mean? The USD chart looks good. Yeah, the USD chart looks great. Yeah. Yeah. And so what does that mean? I mean, it doesn't mean that Bitcoin has to go down. It just means that Ethereum has to go harder. That's all it means. People used to get confused with these things. I remember when I first came into crypto and they think, oh, well, if the Ethereum Bitcoin pair is going up, then that means Ethereum is up and Bitcoin's down. Well, it could, but it could also mean that Ethereum is just going up at a greater clip than Bitcoin. So Bitcoin's here and Ethereum's kind of, you know, rallying faster. Give it a bigger push there, right?

So I like it. You and I have been talking about this for a while now and just looking for a little bit more confirmation on it, but it's looking pretty good at the moment. But if it does go down, that's one pivot there. Yeah, I mean, I'm just looking at the ETH-USD pair as we're talking. I mean, anything above 21, this kind of area right here, you know, 2150-ish, just consolidating above support and now making a move up.

I just don't see anything bad there. But we'll jump into whatever charts you had for us. Yeah, yeah, exactly. Real quick. I mean, you know, there's my Ethereum charts. Same thing. Nothing's changed. 1, 2, 1, 2 is what I'm looking at. Again, we've just pulled back to previous resistance to support.

And now we're trying to break out of this local range right here. Wave circle 3, 46, 26 target. I mean, it's not bad. I like it. What else you got there? Let me see here. I've got AVAX. AVAX here has pulled back about 50% for a wave four here. So I'm thinking it may be done. You can see that we got volume coming in at that low. Volume spike there. Nice bullish engulfing candle. Hit the pivot here on the daily pulling back.

Stoke RSI threatening to break out bullishly. So looking for a breakout there. That gives us a target up there about 62.85. TRX. there that gives us a target up there about 62 85 um trx everybody loves to hate trx because well you know you know but um i've got a wave three up here probably around this r1 pivot almost about 0.12587 um and so it's been just beautiful channel here just beautiful channel coming up off the uh november 22 low just i mean look at how clean that is, man. How can you hate that? But anyway.

People use it. People use Tron every day to send stable coins. It's the most popular chain in the world for sending stable coins. They have the most volume. You can hate it all you want. There's packs. Yeah, exactly. So looking for a bit further up.

And that'll just be a you know a rally up a pullback and then a breakout higher um nothing here saying top you know again looks like one two three in progress there um nearing nearing an end there uh i've got suku usd i don't even know what that is but i love it i don't either uh somebody requested one and i did it for him and uh i i think we've got five up and we've got two on the pullback here I don't even know what that is, but I love it. I don't either. Somebody requested one, Tom. And I did it for him. And I think we've got five up and we've got two on the pullback here, almost a 61.8 retracement.

Ultimately looking for, again, an impulsive breakout above the daily pivot here. That's about 0.06, so about six cents. We can get that. I think we're good to go higher. Wave three is minimum expected target, about 17.5 cents. So, by the way, looks really good right here so far as well in terms of the volume and the price action going through this range. What is that? December of 22. Swing low there. So I'm not hating that one at all. Not hating that one at all. But as always, you know, again, when we talk about charts here,

you know, I tell you guys, listen, I'm looking for a level for it to break out. That doesn't mean, oh, my God, he said it's going to go up, so I need to jump in now. That's silly. The point made here, I posted a file chart, file coin here, right around this area here. And basically the thing was, are you long with file yet? And if not, why? And I didn't have the interior accounts. I just had the one, two, and the three target up here.

And some person, unfortunately, decided they were just going to jump in right there. They somehow, to them, that said they needed to get in. They had no clue what they were doing, no risk management. But, you know, it was a one, two. There's the three target up there, 26. But 26 and some change, $26 up there. It wasn't, hey, let's go long right here. I've now added in this, and it looks like it's a wave 4.

We've pulled back about 50% S1 pivot here on the daily. So, again, looking for impulsive breakout above the daily pivot here. It's $6.23 or so. Should give us a minimum expected 5 of 1 target up there at about ten dollars and 66 cents if this comes out right this is one and we get a two back here wave three is going to overextend up here toward 86 dollars so it won't be 26 48 it'll be 86 dollars because you're going to get this one two three four five getting up here of that interior three. So a lot of room, I think, there on file.

Again, another great-looking accumulation right here. So just look at it. The only thing that invalidates this count, the big count here, the 1, 2, 3, is if we drop below wave two. That's how Elliott Wave works, guys. So it would have to drop below $3.95. I'm sorry, $2.59 here to invalidate this wave three target. What else we got here real quick? What was it?

So what else you got? I see the tabs, man. They get me excited. Yeah, I got a few here. We like Adam, right? We've got an A, a B, and a C, it looks like. About a 50% pullback again. Clean, red, drop right there to the daily S1 pivot. So breaking out impulsively above the daily pivot, right around $10.80 or so. Should get us going in a wave three. That wave three from here has the minimum expected target up there of $28 and 33, uh, 33 cents or

so. Um, so that would be obviously another great move for something that a lot of people I think are tracking. If we are to break down further, as usual, we'll look at the 61, eight here around $8 and 10 cents, 70 and a half and $7 and 61 cents. But right now this is looking good. So we just want that breakout there to kind of get us up there toward that target. Real quick here, if you're into Apple, I think we've just completed wave two. Flat correction here, 50% pullback. S2 pivot on the daily. You know, again, looking for a breakout above $193 or so.

That's that daily pivot area. Wave three, minimum expected target is $230. Coming off that, but yeah, it looks like a 3 and a 4 and then a 1 and a 2 with a flat here heading up for 3 of 5. So I think Apple's got some more upside, but we've got to get that breakout there to get that going. ENVX is another stock chart I'm interested in. We've got a 1 and a 2, 78.6 pullback. We're rallying up here. I've got a wave 3 up there at about $69.

We're currently sitting about $12. I want to see a nice impulsive breakout above the weekly pivot around $14.31 to really kind of get us going. But, yeah, I've got a $69 target for wave 3 there. And let me see here. Mask, mask, mask. Oh, here we go. Mask, again, you know, looks like we've got one up, two down here.

That gives us, let me see, is that the one? Yeah, minimum expected wave circle three up there around $57.78 and a half cents. Locally, looks like one, two, three, four, five, maybe, or maybe one and two on the pullback here. If it's, if it's what we have here, then we've got a one, two here in progress. So if we break down below the swing low here at $3, uh, that'll say this is probably one up here and two is coming back. And, you know, again, we'll, we'll be looking right here around $2 and 80 cents, maybe something like that.

But if this low holds here and we just rally back up minimum expected wave three target there at $8 and 72 cents, secondary target at $10 and 56 cents. And I think that just about does it there. Yeah, man, you came in right at the wire. 10 o'clock. Nailed it. I mean, you nine o'clock nailed it guys if you can't find any alpha and all of that like in a 10 minute just absolute blitzkrieg of

charge that i can't help you i can't help you but we're gonna get dude this thing's gonna get done today we can move on with our lives right go back to talking about something else ethereum ethereum next right let's talk about that okay next week an all ethereum show all right hopefully yeah i my my portfolio would be happy talking my book so so that would be great all right man thank you so much got to run obviously got a crypto town hall in 15 minutes we launched one last night on the fake news and you know normally it's like four or five six thousand people like 17 000 people about the first hour and it was the fake news. And you know, normally it's like four or five, 6,000 people. It's like 17,000 people in the first hour. And it was for fake news.

It wasn't even news. It was to talk about the fake tweets. Crazy. Well, we'll never the real one will get approved and we'll do half the numbers. It'll be wild. Shows you what people care about here. All right, man. Thank you very much. Thank you all of you. We'll be back tomorrow with Mark Yusko, 9 a.m. Eastern Standard Time. I think charting man Dan

is off for the week. So it'll probably be a longer conversation and a few less charts tomorrow. Guys, that's all we got for you. Chris, everybody else, thank you. Peace. Let's go.