CRYPTO FLASH CRASH! SCOTT BESSENT BITCOIN RESERVE & CITIGROUP STABLECOINS!

hundred and twenty four thousand dollars, looked like it was in price discovery and then of course you all know what happened, massive correction and pullback. But obviously when you zoom out on the chart, this is nothing. It's like a tiny little blip, right, But this is the nature of the market. I always tell you, guys, be patient and expect volatility. How many times have I said that?

And the market is certainly being manipulated by Wales. Just about a week and a half ago, a lot of shorts were liquidated with a big move up to the upside. Now a lot of longs got liquidated with a move to the downside. So it appears to be like the clearing of the leverage here, and we're going to reset we're going to find our support levels and we're going to keep going up. So nothing to panic about because the bullmarket thesis, the macro bullmarket thesis is still intact.

Global liquidity, the key support levels, everything is still on track. And if we look at the etherorem it didn't even take a big hit. It was trading over forty seven hundred dollars yesterday, it's currently over forty six hundred and thirty six dollars. So things are still holding up well here. Obviously we got to lead to dust settle bit to see,

you know, how soon are we going to recover? But one thing I'm looking at is Bitcoin dominance and that's still showing some red candles on the daily chart, so it looks like it is continuing to move down. So this is a good sign that the continuation may be right around the corner. Same thing for USDT dominance. So again, folks, things are still on track. Now, what's interesting, Whales continue

to buy so black rocks bitcoin etf I bit. They bought four four hundred and twenty eight bitcoin today, putting their total accumulation at seven one hundred and forty nine thousand bitcoin. This is incredible now, it's obviously their client's money that are putting into this. But if you look at this chart, it's just a big uptrend here right. There are ebbs and flows on the micro but overall it's just continuing to rise. So the buying continues and

they are anticipating higher prices. Of course. Now what didn't

help is that US Treasury Secretary Scott Bescent he was on Fox Business, I believe, talking about a lot of things, including crypto, and he said the US is not going to be buying crypto, and a lot of people were turned off by that. But I was posting on x like I was saying since the beginning of the year, even on an interview on Cheddar News, I said, it's going to be a hard sell to tell Congress, let's go buy crypto right, let alone bitcoin, Let's just go

buy bitcoin. Now, the US did establish a strategic Bitcoin reserve using the bitcoin they have confiscated, and I think that's a great start. But I think the buying is a cart sell, you know, given the fact that crypto legislation has not been passed it, the market structure has not been pasted it, So how the hell are you going to get Congress to buy in to use, whether it be whatever revenue neutral budget option there is, to buy crypto. It's just not going to fly right now.

So I think we got to give this time. I do think eventually the US will buy bitcoin and maybe some other all coins, but I think we're a bit far away from that. I think the fact that the reserve has been set up for bitcoin is great, and we need to get the legislation done and I think then we can look at other things, because it would be like putting the cart before the horse here, right, So I think logic would tell you that, and like

I said, a heart cell for Congress. You know, especially when you have a lot of Democrats already have been putting up some fight. Many of them are not happy with Donald Trump and his kids being involved in crypto. So it's getting very political. And to get these bills like the Genius Act and Clarity Act, it takes a lot of work. So I don't think the timing is right to try to go push this into Congress. I think maybe next cycle that or maybe in the bear market.

You know, one could argue the US government they're not stupid, they're not gonna buy bitcoin and these high valuations, especially when we're not far from the top, and then you have a bear market that's gonna come. It will be it would make sense to go buy in a bear market. Right. So again, reason and logic here will tell you these things. So this, you know, made some people bearish. But this comes as no surprise. I think some people who are

super hyping this up. You're following certain influence influencers. You know they were disappointed. But look, what are you expecting? Right? Senator Cynthia Lummis, who of course has been pushing for this, she gave an update here on x because a lot of people were tweeting at her. She said, Secretary Dissent is spot on about the importance of bitcoin as a

store of value in the digital age. I look forward to continue working with him and Howard like to identify budget neutral ways to continue to grow are bitcoin reserve and outpacing adversaries in the race. So they're gonna look into it, They're gonna do it thing. But again, it doesn't matter if Lummis and a handful of people are bullish. You need to sell the entire Congress on this, right. You need to get the respective votes just like we had to get it for the Genius Act and then

the upcoming Clarity Act. So it is what it is now.

Look at this publicly traded Sequons plans to buy one hundred thousand bitcoin by twenty thirty, So more publicly traded companies are launching crypto treasury strategies. And it's bitcoin, and it's multiple al coins. So this is very bullish and will certainly help to drive the prices up higher. Now, folks, quickly from our sponsor, and that is v Chain. Vchain is one of the top Layer one enterprise blockchains out there. I'm a VET token older, I have been since twenty eighteen.

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Two point five seven trillion dollar asset manager City Group, which obviously one of the biggest banks, looks to add payment services and custody for crypto and staple coins. Of course, right just over the past couple of weeks we saw JP Morgan former partnership with Coinbase, P and C Bank and they're going to launch crypto custody, crypto trading and

much more so. Of course, no one wants to get left behind game theory playing out here and by the way, today guys I interviewed a representative at coinbase to talk about the JP Morgan and P and C Bank Partnership. That interview is going to be published on Monday. You don't want to miss that because we talk about these banks and what they're looking to do here, and it's exciting. They're all capitulating you. At one point they were trying

to kill the crypto industry, kill crypto startups. Now they have to bend the knee and they are all adopting crypto. So let me give it the details here. City Group has entered the digital asset space by planning to offer stable coin custody and crypto ETF support. The move follows the passage of the new US legislation that clears the path for stable coin use in mainstream finance. The bank is focusing on custody, tokenized payments and stablecorenin back transactions

for institutional clients. Folks, I hope you're not feeling bearish because the price pull back a bit here. I hope you see the setup. I hope you see the big institutions, the biggest of the biggest in the world. Many of these banks hold your money. They are coming into crypto, they are building, they're integrating. They want to offer it to their clients. So things are progressing nicely here and all of these new on rams being built and utility

is going to drive the prices higher. The question is are you patient enough? Do you have the macro view which I've been trying to show you guys, to look at the market from a macro perspective to understand what's happening here and what a great opportunity this is if you're patient enough. Now let's move ahead. Tokenization firm Dinari

to launch an l one blockchain aims to be the DTCC of token ised stocks. So the competition is heating up here, folks. This is amazing. So Dinari is launching its own blockchain using avalanche is tech to enhance the trading of tokenized public securities. Many of you know I hold the avax token, which is the native token of the Avalanche blockchain. I've often had folks on from Avalanche, and I believe it's one of the blockchains there's going

to be a winner, you know. Most recently, one of the major counties in New Jersey, Bergen County, they announced they're going to be tokenizing millions of dollars of real estate on the Avalanche blockchain. So incredible stuff. So the Dinari Financial Network aims to unify clearing and settlement of tokenized equities across various chains, similar to the dtcc's role in the US stock market. The move fits into the trend of firms like stable Coin, issuer Circle, and payment

firm Stripe developing proprietary chains. So everyone is trying to start their own chain. Now it's interesting to see which layer one they're building on or if they're launching their

layer two on that layer one. So this one is obviously the avalanche, so fascinating, right and now doesn't mean that everyone's blockchain is going to be successful, but this is where in this building phase, this speculative phase, and the R and D and trial and error, it's really exciting to watch it play out and we'll see who the winners are. But this is where we want to diversify. This is why I hold the avax token in my portfolio because I think it could be one of the winners.

But we don't know, you know what the future. Holes are going to have a crystal ball, but we'll see, you know, what does the next bull market bring because we'll have legislation now and then there's going to be a bear market, and usually the bear market is where there's a lot of building happening and we'll see who are the chains that are selected and all the building that happens and what the narratives are come the next bull market. So really exciting stuff. Final news item here

crypto exchange Gemini, which is run by the Winkleboss Twins, launches wallet and on chain dashboard for trading and investing. So we're seeing a lot of innovation and expansion from many crypto businesses. Signs of a healthy mart market and a bowl market. A lot of companies going public, expanding globally, hiring, doing acquisitions right, so really really interesting stuff. So Gemini has launched a self custody crypto wallet would pass key

based onboarding, removing the need for recovery phrases. This is very interesting. This this is type of technologies what's going to help bring in, you know, a billion people because the seed phrase is the recovery phrases really scare people. There's so much friction, especially if you're not tech savvy. You know, it is one of the things you have to worry about and backing up, making sure it's safe

and look. Self custody is a great thing. But if you can make it easy tied to maybe biometrics and things like that versus having to remember twenty four words, you know, it would make things a lot easier. Gemini also launched the Gemini on Chain Dashboard, a web interface for trading tokens and exploring decentralized applications. I'm going to try to get the Winklevoss twins back on the I interview them back in twenty twenty to talk about all this.

But great to see innovation, guys. This is what we want to see in competitions, healthy for us as users and for consumers. So very great stuff here, folks. A great way you can support me in the podcast is by subscribing to my free email newsletter. It is one hundred percent free, packed with tons of value, so check out the link in the description. Also check out my book on Amazon it's available in paperback, in digital, and my course at mycryptocurse dot com. This is a comprehensive

course that teaches you every aspect of crypto. Knowledge is power expand your knowledge about this asset, class and technology. It is packed with tons of value. I get a lot of positive comments. You can leave comments in each of the respective lessons, and if you have further questions, you can leave them there and I answer them and so forth, and people are happy and they're learning a lot. So check it out, guys. Go to Mycrypto course dot com. All the links will be in the description. Thank you

so much for watching and listening. I appreciate you all and all talk to you all later. M hmm.