🚨BITCOIN & ALTCOINS PULLBACK, RECOVERY SOON? WALL STREET TETHER TAKEOVER!

Thinking Crypto podcast. You're home for cryptocurrency news and interviews. I'm your host, Tony Edward on your weight in. Please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five star rating and review. Folks, Bitcoin and the all coins are seeing a pullback, and it's actually a

very healthy pullback When you look at the charts. Bitcoin is currently in the overbought zone from the RSI standpoint, so anything above seventy is overbought, anything below thirty is over sold. So in the overboughd zone, you can expect pullbacks and corrections. Now that doesn't mean Bitcoin's going to crash to seventy thousand dollars tomorrow. We have to see how it plays out, right. We gotta let the market prove itself and show us what it wants to do.

So any type of consolidation here is very healthy in order for us to push higher. And also keep in mind that one hundred thousand dollars is a psychological barrier or resistance, and we're gonna have to build support levels to smash through that. I think we will, and it could possibly happen next week. I have the thesis that bitcoin whales want to have bitcoin hit one hundred thousand dollars around Thanksgiving so that the dinner table conversation will

be around crypto. And we've seen historically that kicks off a big retail fomo. So I think the whales, the market makers, know what they're doing here. Now I could be wrong. You know, the thesis may not be something that plays out, but we'll see. I think it has a high probability of playing out. When you look at bitcoin on the monthly, it's also in the overbought zone, so some sort of cool down is needed here. Once again, it doesn't mean that Bitcoin has to dump tomorrow. Even

next week, it can go a bit higher. It could smash through one hundred thousand, then do its big correction, and that doesn't mean the bullmarket's over. It's just these things are normal in a bullmarket cycle. You go back in history and you look at the charts. Nothing goes up in a straight line. There will be corrections and sometimes deep ones thirty percent, forty percent. I've experienced those. And if you don't understand the indicators, the markets, the technicals,

and so forth, it can shake you out. So this is why we have to pay attention to the data and not our feelings and our emotions. So if you look at coin market cap, you know a lot of all coins are pulling back. And let's use XRP as an example. It was at a dollar sixty cents right a couple of days ago. Now it's at a dollar thirty nine, and you look at its chart on the daily, the RSIs and the overbod zone, so you can see that natural pullback very healthy. Nothing goes up in a

straight line, so we have to be patient. We have to go through the cycles, and remember theset levels that are being built are very important. For us to hit higher prices, because it's not sustainable to keep going parabolic every day, every week, every month. That is not realistic, right, guys, So keep these things in the back of your mind. Look at the charts, look at the different indicators, so that you're not moving by your emotions now. Analysts wreck

Capital highlighted following about Bitcoin's current pullback. He said, understandably, Bitcoin is finding some resistance at the major psychological level of one hundred thousand dollars. Does Bitcoin need to experience a dip having only broken out from a sideways range some five days ago. It's debatable, However, at this time, the worst case scenario is that Bitcoin could dip up to eight point five percent into the old resistance of

ninety one thousand dollars for a post breakout retest. For context, bitcoin experience a seven percent dip some ten days ago. Bitcoin could of course produce a much shallower dip, but the key takeaway is that dips are a natural part

of the process and dips precede further upside. So, guys, I think we can hope that this dip, maybe it continues into tomorrow and it finds some sort of bottom and then come let's say Wednesday, it starts moving bitcoin smashes through one hundred k on Thanksgiving or on Friday, whatever it may be, and retail fomo starts again. We go into December very strong, and then there could be another pullback in the middle of December or late December.

So these are the different scenarios you want to think about. Because no one has a crystal ball here, and we look at the charts, we wait to see what it tells us, and we form our thesis. Now, of course, there are some people who are shouting from the hills, Oh we're at the top. See I told you guys, blah blah blah, right, but they never show you quality metrics or signals. So based on historical patterns, we are

not near the top. And multiple charts and data points show us that even the all cooin market cap hasn't even touched its old all time high set back in twenty tw one, so we're nowhere near that. One of the indicators I like to use is the Pice cycle top indicator for bitcoin. It's nowhere near to flashing. Also, watching what the bitcoin whales are doing, they continue to accumulate, so data from sentiment shows while it's with ten plus,

bitcoin continues to increase, so they are buying. In addition, bitcoin supply and exchanges continues to go down. That means that they're not moving coins onto the exchanges to sell. We saw that actually back in March and April and May of this year when it was the buyer rumor sell the news event with the bitcoin ETFs. So these are the different things you want to look at. It tells the story about what's happening in the market. And look, whales are the ones who controlled the market for the

most part. Yes, retail comes in, but the whales are the ones who set up the whole movement, like it or not. So we are seeing they are buying and they are not selling. And this is also happening on the ETF side. Socoin join spot ets bought around thirty four eight hundred and sixty bitcoin this past week and only three one hundred and fifty bitcoin were mind guys, this is why you want to be on the side of smart money and looking at data and all these

different things. It's amazing what's happening. And one of the things I often share with you guys is stable coin liquidity because that liquidity goes into the market to bitcoin and all coins. Well, Tether today minted two billion in USDT. Guys over the past six to seven days, they've minted about seven billion in USDT. If you follow whale alerts on Twitter, you will see the same data. You can

go check the transaction on the blockchain. They continue to mint a lot, and that's because a lot of whales go through using stable coins, both USDT, USDC and more. And we continue to see the narrative is changing around crypto. Folks. Look at the cover of The Times, which is a newspaper out of the UK. The headline here is should pension funds invest in crypto? How times have changed? Folks?

How times have changed? It's amazing. There's both a global competition and conversation happening about the integration of bitcoin and crypto. Bitcoin as a reserve asset here in the United States. Some countries have made bitcoin I legal tender, Some are buying it and adding to their balance sheet. And we are just seeing movement towards crypto with the adoption regulation and much more. They're not banning it. No one's calling

it a fad anymore. Notice how that fud has disappeared. Right, No one's saying, Oh, it's a fad, Oh it's a pet rock, right, Jamie dive, it's a pet rock. You don't hear him saying those things anymore. So pretty incredible stuff. Now, guys, I want to share something from macro investor ral Palell. Now we know Donald Trump assigned Scott Piscent as the new Treasury secretary. He's very pro crypto in reporting that

news to you guys. This week, I shared a clip of him speaking about crypto, and Raoul actually knows Scott, so he tweeted the following, Scott Piscent, the new Treasury Secretary is in favor of a weaker dollar and lower oil prices to drive US and global growth. That is all you need to know. It will drive financial conditions, Taildr. Scott is good for your bags. I've known him for over a decade and he gets it. Raul continued here, saying at tad deeper, he understands that we have to

try to goose GDP to grow out of debt. I think it fails due to long term demographics until AI plus robots. Even so, we still have to roll ten trillion dollars issh of debt. So we need to lower rates in twenty twenty five before growth can kick in. So let's talk about the major takeaways here. Scott percent is a billionaire. He's been investing. I think he's been in the hedgehund space. That's probably why he knows ral Palell. He's bullish on crypto and he believes in a weaker dollar.

What have we seen historically the DXY, the dollar currency index, when it is crashing, there's an inverse correlation between bitcoin in risk assets and the dollar. Now, I know some of you're gonna say, Tony, have you looked at the DXY chart? Recently? Risk assets have been pumping along with the d x Y, and I believe that's an anomaly, Folks, don't.

I'm not too sure what's happening here, But if you look at the historical patterns going back to multiple bull market cycles, d x Y is crashing bitcoin and risk assets are going up. That has been the correlation. And I think this anomaly, this outlier here, it will correct itself. And we're actually seeing the DXY starting to break down here.

It has been in the overbought zone as well, so let's see, it's it's weird times with these assets, and it could be just because of the election and the shift and some macro factors and more, and maybe investors are front running the collapse of the d x Y and you know, markets are for looking. I'm going to try to see if I can get some experts to

come on the podcast to talk about this. But this is unique and if you go look at the charts yourself, you will see that inverse correlation from multiple bull market cycles in addition with the stock market. So it's really weird that the x Y has been pumping with this. But to Ral's point, Scott and the Trump administration and so forth, they're going to look to have a weeker dollars so assets take off and I think they're going

to start a money printer again. Guys. QWI is going to come back, so very insightful posts here from Ral and you know as far as what we can expect allorry, guys. Final news item here. We got a report today that Cancer Fitzgerald has agreed to acquire five percent stake in Tether for up to six hundred million dollars. And if you know, the CEO of cantor Fitzgeral is Howard Lutnik. He was just appointed as President elect Donald Trump's Secretary of Commerce. We know that Lutnik has been very close

to Donald Trump, part of the transition team. Lutnik was at the Bitcoin conference talking about their bullish on bitcoin. They own a lot of bitcoin. At Davos earlier this year, he mentioned that they were working with Tether and that Tether had the reserves, they had the money, so very big move. And this type of news continues to silence the fludsters, people who continually spread foot about Teather. And I've been on record in the past that I believe

Teather was not in good shape years ago. I think now that is not the case. Their ship is in order and they're working with some of the biggest firms in the world. But the larger theme here, if you step back, it's the Wall Street takeover. Guys. Look at this. This is a major Wall Street firm, and I think they'll probably want a bigger steak eventually. But just look the ETFs being issued by all the Wall Street toganization.

They want to take over the stable coin issuers. This is why Gary Ginser was weaponized to kill the coin bases, the ripples and so forth, so that his buddies on Wall Street, Goldman, Sachs and all these guys can come in and take over. But very big for Teather and

very big for the future growth of this market. Cantor is a very big firm and they do a lot in the markets, guys, So huge, huge news here, in my opinion, I'm going to try to get the CEO of Tether back in the podcast to talk about these things. But let me share some notes on the article. It could mean Tether receives more political support as Canter. Fitzgerald's CEO, Howard Lutnik, was selected as the United States President elect

Donald Trump's Secretary of Commerce on November nineteenth. Gian Carlo de Fasani, suspected to be the largest shareholder Tether, reportedly said words to the effect of Lutnik will use his political clout to try to diffuse threats facing Tether. The Wall Street Journal claim very very interesting, guys, but the larger theme once again you step back, it's the Wall Street takeover. So you can see where things are headed, folks.

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