FED GIVES KRAKEN CRYPTO EXCHANGE MASTER ACCOUNT & MORGAN STANLEY BITCOIN ETF!

price action from bitcoin. Bitcoin currently sitting at over seventy two thousand dollars right now, so we've broken out of that consolidation zone we've been in. I coverted over the past few weeks that we're waiting for the start of the relief rally. This appears to be the start. However, we have to be cautiously optimistic because markets can fake

us out, especially in a broader bear market. So we can see certainly bull rallies relief rallies in a bear market, but of course you're not going to take us to new all time highs. So I'm looking at a target of about eighty to eighty five thousand for bitcoin. It could overshoot and go to ninety k, so we're gonna have to be patient and see what the market gives us.

The positive signs we're seeing is of course the price action, but of course the RSI, as I've been highlighting, has been moving away from the over soul zone and there's still room for it to run before it becomes overbought. Not to mention, the MACD shows the bulls are in control. This is per the daily chart. If you look at the weekly chart, it looks like the bears are losing momentum here per the MACD, and there's a green candle forming on the weekly chart. Plus the RSI is moving

away from the over soul zone. And if you look at the USDT dominance, that is breaking down, so that means the stable coin liquidity it's tarning to make its way into the market. Hence you have the inverse correlation. So the RSI for USDT dominance is falling, but not in the over soul zone. And of course it's collapsing here on the chart. So these are positive signs showing us this rally should continue. The question is how high.

As mentioned earlier, and if we look at the total all coin market cap excluding bitcoin, ether and stable coins, we're seeing a little bit of uptick. I do believe all coins are gonna follow bitcoins move and outperform Bitcoin as they typically do, but we're gonna have to be patient. Bitcoin's gonna have to make its move. Bitcoin dominance is rising right now, and then I believe all coins will

catch up. On the daily chart for the total three again similar to Bitcoin, the RT size moving away from the over soul zone but still has room to run before it becomes overbought, and the mac D shows bulls are in control. So these are all great signs guys, and once again not a move to new all time highs.

And we do need to be cautiously optimistic because in this environment, with the macro factors of the Iran war and all these things going on, you never know what news may come and then trigger a dump right and invalidate everything here. So we're gonna take it one step at a time. But we are seeing some very positive signs, you know, as far as accumulation by the whales, we're seeing a bit of an uptick here after retail started

slowing down. So data from Santaman is showing that whale wallets are starting to pick up and a retail they're calming down, so that inverse correlation is what you want to see, right, We'll have to keep monitoring this and see how it plays out in the coming weeks. We are seeing bitcoin ETF inflows start to rise again, so US spot bitcoin ETFs at two hundred and twenty five million dollars as black rocks, ibid offsets, redemptions, So all good signs. So let's be patient and see where the

market takes is. But I'm happy that we are seeing some upward movement. Now, folks, we have huge crypto news.

First up, Kraken Crypto Exchange wins a Kansas City FED approval for limited master account access. This is the first crypto company to get a FED master account. If you recall, Kaitlin Long and folks at her bank were trying to get this and they were roadblocked. And now we're starting to see the approval. Other folks who have applied as well, I think Ripple and many others. So this is credible

and it's funny. It comes a couple of days after Jamie Diamond said, you know, these crypto companies want to offer stable coe yield, they should become banks. Here you go, right, here you go, Jamie. It started. So this is incredible. Let me give it to details. So US cryptocurrency exchange Kraken's banking unit has been granted a limited purpose Master account by the US Federal Reserve Bank of Kansas City, giving it direct access to the fed's core payment system.

In the first for the crypto industry, Kracken Financial, the exchange's banking unit has gained access to the fed's payment system fed Wire, allowing it to move money on the same rails used by banks and credit unions. According to the announcement on Wednesday, the Federal Reserve Bank of Kansas City approved a limited purpose account for Wyoming based Payword Financial.

As a Tier three entity with a Federal Reserve Master account, we can operate not as a peripheral participant in the US banking system, but as a directly connected financial institution. Kraken co CEO or June Sethi said, the approval gives the exchange the ability to settle directly on FED Wire, reduce dependency on correspondent banks, and integrate Fiat liquidity into crypto. He added, folks, this is so bullish, and again this

is just the tip of the iceberg. We're going to see other companies get approved so crypto exchanges and platforms and companies plugging into the FED just like trad FI institutions. So again I hope you see the direction to puck

is heading in. We are now getting these approvals right, and by the time the bull market rolls around with crypto legislation pass, all of these rails set up right, plugged into the system, trillions will come into the ACID class and you're going to see more tokenization, more stable coins, and much more. And of course that is going to drive the value of the blockchains they're being built on a higher plus their native token. So this is where you've got to have the macro view and don't miss

how significant this is. This is incredibly, incredibly bullish news. Now here's some more bolish news. Morgan Stanley taps coinbase

and b and y Melon for custody in proposed bitcoin ETF. So Morgan Stanley and the likes of Vanguard went from naysayers and haters to now we're gonna file for our own ETFs. This is amazing, guys. The dominoes are following big capitulation here. So the Morgan Stanley Bitcoin Trust plants to storage bitcoin with coin based custody and Bank of New York Melon, with B and Y also serving as administrator, transfer agent, and cash custodium. So the filing outlines a

custody structure designed to mirror traditional institutional standards. Bitcoin will largely be held in offline cold storage vaults where private keys remain disconnected from the Internet to reduce hacking risks. A portion of the assets may temporarily move to trading wallets during ETF cre creation or redemption activity. The trust notes that custody insurance exists, but it is shared across

customers and may not cover all potential losses. So folks, as always, it starts a Bitcoin and they're going to go to all coins. Watch after maybe three to four months they go to eth XRP, Soalana and much more. So. This is a massive, massive on rep that's going to bring a lot of capital into the market. So all the major bank, stock exchanges, and investment firms are all getting involved in crypto. There's none left. There's a naysayers left, right.

It is now foolish if you don't have a crypto strategy. It used to be taboo to even talk about crypto. Now you better have a strategy. You better offer this because this is the direction that Puck is heading in. And here's another example of bank adoption of crypto. So Canada,

Scotia Bank launches multi crypto ETF with three IQ, the bank's asset manager and three IQ debut and actively manage crypto ETF to Canadian users, offering exposure to Bitcoin, Ether, Solana, and XRP at a competitive zero point two five percent fee. So banks across the globe all investing in crypto. Now, folks, a great option for you to invest in crypto is via an IRA. Why you get huge tax benefits. So if you have a long term view on crypto, even gold and silver, you can use I Trust Capital's IRA

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And they also offer a great custody option, so they use institutional grade crypto custody, so they use coin based prime, fireblocks fidelity digital assets, and we know that black Rock uses coin based prime. So you're getting the tier one level custodial services and second to self custody. I believe this is the safest way of custodying your assets. You can sleep at night, and it has a closed loop system so even if someone hacks into your account, they

cannot withdraw funds. So I have an account with them. Guys, you can definitely check out these two services. They're really great and the custody solution is of course low fees, so this is a great grade option to invest in crypto, especially if you have that long term view. And folks, if you use my link, you can get at one hundred dollars funding bonus, so go check out I Trust Capital sign up for an account. The link will be in the description. Okay, folks, big news from Western Union.

They are teaming up with Crossmen to support their USDPT stable coin on the Salona blockchain. Now I know, I promised I was going to publish my interview with the VP of Digital Assets at Western Union today. Unfortunately I had to make a small edit to that interview. There was some incorrect information in there, but it will be published tomorrow, I promise. I give you my word so you don't want to miss that interview to hear from one of the largest payment companies, one of the oldest

now adopting blockchain stable coin technology. Folks, It's amazing the paradigm shift we are seeing. So let me give it to details here. So Crossman has partnered with Western Union to support the launch of the remittance companies USDPT stable coin and its new digital asset network on the Salona blockchain. Wednesday.

Announcement said the collaboration will integrate Crossman's wallet and payment APIs with Western Union's infrastructure, allowing fintech firms to move funds using the stable coin and connect to Western Union's global payout network. The digital asset network is intended to link stable coins with the company's existing pout infrastructure, enabling users to convert digital dollars into local currency through its network of more than three hundred and sixty thousand cash

pickup locations worldwide. This is incredible. This is new as you need to send to cryptosceptics and naysayers and fudsters, right, people, Oh, it's all scam, right, they just read headlines, they don't actually educate themselves. Send this to them and make sure you highlight that this company's launching its own stable coin.

They're doing it on a public blockchain, Salona, which they can invest in the Soul token, right, but they can also see the benefits if they're using Western Union of the movement of stable coins, for faster settlement, cheaper fees and all those things. So incredible, incredible things happening, folks. This is why I'm bowl as from a macro perspective. Okay, moving ahead, trade web backs, crypto ECN crossover markets in

thirty one million dollar funding round, so we continue to see investments being made, expansions, mergers, acquisitions, and so forth. So let me give it to details. So Electronic Trading Company trade Web has led a thirty one million dollars Series B funding round in institutional crypto trading platform crossover markets, valuing the company at two hundred million dollars. The round included participation from DRW Venture Capital, Ripple, Virtue Financial, Winter

med Ventures, Illuminate Financial, and XTX markets. According to Wednesday's announcement, the deal also includes a strategic partnership that will allow trade webs clients to access spot crypto liquidity through crossovers cross x Electronic Communication Network, marking the company's entry into institutional cryptocurrency trading and linking its global network of institutional traders with digital asset markets. The on rams being built here, folks,

for more capital, come in. I hope you recognize what's happening. I know we are all concerned about price. Price will catch up, guys, and there's a cyclical pattern to that, and obviously there's macro factors and things like that. But eventually, if you're patient enough, the market's rebound and we'll go to new highs. All right, folks, that's the news, really big stuff, and let's hope the relief rally continues with Bitcoin going as high as possible and all coins following.

I would love to hear what you guys think. Leave your thoughts and comments below hit the thumbs up button subscribe if you haven't as yet, be sure to support the podcast by subscribing to my free email newsletter one hundred percent free on substack. It includes a lot of chart data and information, so make sure you sign up guys, and please grab a copy of my book on Amazon. It's available in paperback in digital. And check out my

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