Welcome to the Thinking Crypto podcast. You're home for cryptocurrency news and interviews. If you are new here, please hit that subscribe button as well as a thumbs up button and leave a comment below. If you're listening to a podcast platform such as Spotify or Apple, please leave a five star rating and review. It supports the podcast and it doesn't cost you anything. Well, folks, I want to talk about bitcoin. What is happening here? Bitcoin is
pumping. It's currently at forty eight one and seventy six dollars at the time of recording. We're seeing some nice green candles here on the daily chart. However, I'm cautiously optimistic. It's not that I'm bearish from the macro standpoint. I'm bullish. I believe this year we will see new highs, and I believe we will see a blow off top new all time highs in twenty twenty five, So please understand my perspective. However, in the short term,
what are we going to see? And I think bitcoin is due for a correction. It may run up further, it may go up to about fifty five K and then correct from there. I think we go down to thirty five K. We build support levels and then we work our way up. Now some things that could help Bitcoin continue moving up, because I want to make sure I'm giving you all the facts right, I'm looking at both the bullish and the bear scenario. The Nasdaq and the SMP five hundred continue
to pump and make new all time highs. It's crazy what's happening. And the DXY, the Dollar Currency Index, seems to be correcting a bit. We have to let these things play out and see how the charts move and how the prices move. But the facts are as of today, the stock market looking bullish, the DXY looking bears. So we'll see how these things
continue to play out. Some analysts and different folks on crypto Twitter are saying, look, imagine bitcoin is going to double top here where it hits forty nine k or fifty k and then corrects, right, that will be brutal. Here coin signals, they're highlighting that forty eight, six hundred and forty six dollars is the fib six to one point eight percent, so showing that a potential rejection could happen here, and then we go test the lows once
again. This is not that the party is over or bull market's over. That's not the point. The point is what can we anticipate as we go into the Having. Some folks are calling for six figures with a fifty five k worst case scenario. I don't think a six figure bitcoin is happening by the Having. Is it possible? Of course, anything is possible. Is it highly probable? That's the question, and I don't think it's highly probable.
I think we may correct now, but then start moving our way up into the Having, where we are seeing maybe a fifty k bitcoin at that point, or maybe higher, maybe sixty k, or maybe I am completely wrong and this happens earlier, and then it corrects into the Having. Maybe we have a buyer rumor sell the news event for the Having, because everyone's
anticipating higher prices, everyone's anticipating, you know, some of fireworks. But we've seen time and time again, just like the bitcoin's BODYTF launch, things could get choppy and the markets can do what you least expect them to do. Point is buy the dips, buy the blood in the streets, and then sell the euphoria FA sell the tops. That's the important thing. So you're walking away with a good ROI you're walking away with off it, you're
making money. So once again, different analysts. Some are saying one hundred k by the having I don't trust that. When I see headlines like that, I don't trust it. But do I believe we are going to see one hundred k this cycle. Absolutely, and that could happen till in twenty twenty five. So just keeping it real with you guys on how things might
play out. One thing's for certain. As Bitcoin continues moving and even if it cools off here, liquidity will flow to the alts, and the alts will start moving, and we're seeing some of them like etherorem is up near nine and a half percent from a seven day perspective, Solana up just over eleven percent from a seven day perspective. So we're seeing liquidity flow to the
alts now, folks. Charles Gasparina Fox Business is reporting that the SEC is bracing from a major exodus among senior enforcement lawyers in its crypto assets and cyber unit. According to officials at major law firms who have seen several of the resumes Fox businesses with holding names to protect privacy, The moves suggest that the bleed of senior staff under Gary Genster's controversial leadership of the agency isn't letting up.
So we're seeing people jump ship here because the SEC is getting called out publicly, they're losing cases. The debt box situation is a clear example of the judge looking to sanction some of these firms or to excuse me, not the firms, the SEC lawyers. So that's pretty bad. I mean, that's just ridiculous. And then the sees he gets called out publicly for being arbitrary and capricious in their denial of the spot pick twenty TFS and it took
a victory in court for Gary Ginster to approve it. So why would you want to work under that? It's just horrible optics. Things are in a disarray, right, Just look at the launch of this BODYTFS with the hacked account and all of that. Just imagine you're working under that, right, It just sounds like it's a mess over there. And here Justin Slaughter,
who's policy director of Paradigm. He tweeted out regarding this news. He said, one of the worst kept secrets in DC is a lot of the SEC attorneys working on crypto enforcement don't actually want to be doing a total war ballistic attack against the biggest crypto firms when they instead could be doing more targeted enforcements. So this isn't surprising. That is telling. Remember Gary Ginser is going
after everybody. Now, whether you're a good actor, you know, whether you got to proof to do an IPO in coin basis situation, I'm going to go after you. That's ridiculous. There are tons of scams in the crypto market, as there are scams in every market, right, go after the scams. Why are you going after the good actors? But we know it's a political move. Elizabeth Warren is pulling the strings and the banks and
tradify collect they control. Elizabeth Warren. Matt Levine described this accurately as a drunk under the Lamppost approach two years ago, and that hasn't changed. The out of the trench's frontal assaults will continue until legislation passes, Scotis rules against the sec or there's a new chair here, he continues saying. And I'm sure that a Supreme Court that is set to rule a president that fomented and insurrection can still run for president, will totally rule that all tokens are securities.
And the SEC hasn't engaged in overreach very strategic much for thinking. Not sure about that, but anyway, these are his thoughts. But folks, the SEC's a mess, and you know, the more people that are leaving, it's going to put Gary against her in problems. Remember, he's trying to get more budget, right, and I think he's going to lose out on that budget and it's going to give Patrick McHenry and the folks in Congress
more ammo to keep Gary gains here accountable. The problem is, I know some of you have been upset by the lack of action we just seen letters, But look, the Democrats control a lot, right and Elizabeth Warren has a lot of power, so it's hard to do a lot. And Tom Emmer told me this in an interview, So they can really try to change the narratives and change the optics around Gary against her. Anyway, folks,
that's the news. Let me know what you're thinking. Do you think we see six figures by the having I don't think so, but I would love to get your thoughts. And do you think bitcoin's about to correct soon? Once again? It will be a healthy correction because we are looking for higher highs. I don't care about fifty k. We've seen fifty k before, looking for one hundred k and hire and for that to happen, for it to be sustainable on the move upwards, we need to build support levels.
That's where I'm coming from, nothing more. I am not shorting in full transparency. If I was shorting, you could say, Tony, you're a barrier. Shorting, you're biased? All right, You could totally say that. All right, Guys, let me know what you think. Leave your thoughts and comments below, hit the thumbs up button, hit the five star rating on the podcast platforms, and I'll talk to you all later