¶ Intro
I've got good news for you and bad news for you. JP Morgan is tokenizing on the ethererem blockchain, and Visa is forming a stable coin advisory group that includes banks and much more. But Bitcoin is taking another pullback and the market Structure bill will not be marked up in twenty twenty five. I'll give it the details. Let's get into it. Hey, folks, welcome into the Thinking Crypto podcast. You're home for cryptocurrency news and interviews. I'm your host,
Tony Edward. On your way in, Please let that subscribe button as well as the thumbsup 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 taking another pullback, but it's along
¶ Bitcoin price pullback
the lines of one of the scenarios we talked about over the past couple months, and that is we could see a double bottom. So you know of this move that we were seeing that looked like a VSH shape recovery setting up higher highs and higher lows. If that failed, it could be just a retest, and that's what it
looks like. Remember that bitcoin was extremely over sold, the sentiment was in fear and the market always does the opposite of the herd, So I think this is more so of a retest and a double bottom, kind of like what we saw earlier this year in about March or so, we had a double bottom before we went into the move to new all time highs. So again, it's a patience game. I know it's tough, I know it's painful, I know it's annoying, but this is the market and we're going to have to deal with it.
But it's not only Big One that's taking a bit of the pullback here. The stock market is as well, so we're seeing weakness across the board. So we just got to let this play out again. Like I said yesterday's podcast, I'm not anticipating anything towards the end of this year, folks, or this month at least, but rather I think this theme starts to pick up in January and February as liquidity starts making its way through the market. We're also watching gold, right. Gold has been on the move.
It has not broken the all time high its set months, but that's something we're gonna watch because what we've seen is the rotation between these different assets. Right, because we've been in a macro bull market. So if gold is continuing its move, that's a very good sign for Bitcoin, the stock market, and much more in addition to things like silver. Silver hit a new all time high this week. Right now it's pulling back because it's been overbought. But
these are all signs I'm looking at. And you know, we got the Fed has started quantitative easing, that started just Friday, So we got to be patient here and let things play out. Here's something that Michael Vanderpope said, and he is the founder of m N Fund. He said, for the fourth time in history of bitcoin, the RSI
against gold is hitting less than thirty. The previous three times this occurred was in the bottom of the twenty fifteen bear market, the bottom of the twenty eighteen bear market, and the bottom of the twenty twenty two bear market. He said, It's not a guarantee, but it can clearly say that one of the two is over valued to the other. In this case, I think gold is overvalued versus bitcoin, and that is a rotation on the horizon. So again, remember I've been telling you guys, we're in
a macrobowl market for all assets. We're gonna see rotational liquidity. He says the gap towards the twenty week moving average is massive as well. History quite often doesn't repeat exactly, but it rhymes and the data never lies. So I absolutely agree with this, not because of feelings or emotions or biased but rather the data. Right, what is the data telling us? So one of the other things I've been highlighting to you guys on the podcast in my
newsletter is that bitcoin whales are accumulating again. And in addition, you know, we are expecting to see crypto companies do IPOs, not just crypto companies, but tech companies in general do IPOs in twenty twenty six. So what are they anticipating?
Right?
And look at this, I think this is telling We know Donald Trump and his family are heavily involved in crypto well, Trump backed American Bitcoin flips, pro Cap, in bitcoin treasury race, so they continue to buy bitcoin and mind bitcoin. So why are they doing that if the price is going to tank again? Read between the lines, right, And I'm not saying this one issue is you know the bullmarket case. I think it's a combination of factors
that we got to look at. So Bitcoin's month long slide hasn't stopped corporate treasury companies from accumulating the digital asset with the Eric Trump backed American bitcoin overtaking pro Cap Financial founded by entrepreneur Anthony Pompeliano in total bitcoin holdings, so they now hold more than one thousand bitcoin. So what the hell is going on here?
Guys? Why are they buying?
If we're headed into a bear market as summer saying it, Bitcoin's headached down to Some people are saying seventy, some people are saying fifty forty. I mean, the craziest numbers out there, right, So what's happening here? And I pose that question so that you guys can look at the market holistically. Right, there are bearer signals on the charts.
We're not ignoring that. But then I look at the macro and some of these fundamentals and I'm like, wait a minute, something is something is different here this time around, because last time you.
Didn't see companies doing this.
Right, last time, it was it the Fed said we're headed into quantitative tightening, We're going to raise rates, and then it was it party over, it collapses started, and much more.
That's not what's happening here.
So this is where as a student of history and what companies are doing in the macro and the FED and these institutions, I'm looking at all these factors and saying something is very different this time.
¶ JPMorgan Ethereum Tokenization
Now look at this news. This is massive.
So JP Morgan launches tokenize money market fund on etherorem as Wall Street moves on chain.
This is huge.
And this follows just the news we saw on Friday that JP Morgan was tokenizing Galaxy Digital's debt issuance on the Salona blockchain. But we know JP Morgan has a massive history with a theorem. They helped to fund the Etherorem, they invested in Consensus, they were partner with Consensus. At one point they had a forked Etherorem and had a private version of it called Korum. I think it's now
called Connexus or something like that. So JP Morgan they know what's going on, despite what Jamie Diamond was saying all these years.
Right.
So JP Morgan Chase is launching its first tokenized money market fund on ethereum dubbed my on chain net Yield Fund or call mony mon Y, with an initial one hundred million dollar investment. So money or money if you want to say, it that way, allows investors to redeem shares using cash or USDC, and aims to offer similar
benefits to traditional money market funds with added blockchain advantages. So, folks, it's interesting we have this dichotomy, the most massive, massive adoption of crypto, big guidance from the SEC, the OCC and the CFDC, Yet price is not reacting right because there's so much. It's not like there's just one item or a couple. There are a lots man we saw. I actually wrote about it in my newsletter today. Just
massive adoption, but price is not reflecting that. And it's almost like someone's holding back the parabolic phase until these big players take their positions right now that I could be absolutely wrong, right, I always tell you guys, I'm not here to claim that I know everything, but you know, I try to follow my intuition and look at what people are doing and then what's happening in the market and the price action and all that. So it's just very,
very weird. But anyway, this is massive. I mean, this is the king of the FIAT world JP Morgan, right, They're king of the hill when it comes to the banking world. So this is incredible adoption, and look, they're building on public blockchains, so they've capitulated and everybody realizes now you have to settle and that's where the liquidity is on public blockchains.
Now look at this.
Hunter Horseley, CEO of bit Wise Asset Management, replied about this news, saying, within twelve months crypto is going to be integrated with all parts of financial services, a title wave of substance and new players are coming. The gain theories playing out here with these massive institutions. We're seeing all the big banks right City, JP Morgan, all the
Wall Street firms are launching. Charles Schwab they're going to be launching crypto trading in the first half of twenty twenty six, and van k they just recently capitulated and much more so. It is once again a very weird dichotomy that's happening between adoption and the fundamentals and all these things versus price.
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¶ Bank of American Banks onchain
we got more news around banks. So Bank of America says banks will move on chain over the next several years. So we know this right, All the banks are going to capitulate and adopt crypto. We've been beating the drama about this for years that the future markets, economies, and governments will all run on blockchain rails. And in fact,
¶ SBI Holdings Yen Stablecoin
today the NASDAC said they're ready to launch twenty three hour trading, so they get everybody's trying to compete with crypto right, because crypto is the first truly global market that runs twenty four to seven, three hundred and sixty five days. Here's some more bank news. Japan's SBI Holdings and Startail Group signed an MoU to jointly develop a regulated Yen denominated stable coin compliant with japan These financial regulations.
So the launching crypto trading, custody, tokenizing, launching stable coins, and much more folks, So I hope you see the direction to Puck is heading in here. It's amazing the adoption, but you know, as mentioned earlier, it is crazy dichotomy between the adoption we're seeing in price. I do believe eventually the price will catch up. Is just a really strange time in the market right now. Now look at
¶ Visa stablecoin advisory
this news from one of the world's largest payments in credit card companies, Visa launches stable Coins Advisory Practice to keep up with crypto wave. What a headline, right, We couldn't imagine this even just four years ago. So another major financial institution is doubling down on stable coins and crypto. This time it's Visa. The company announced on Monday the launch of its stable Coins Advisory Practice, a service which aims to add FinTechs, banks, and other businesses with their
strategy and implementation of stable coins. So all the credit card companies are doing this right on end, the payment companies for that matter. So you got MasterCard and American Express and much more, and they're all in a race again, Game three playing out here. No one wants to get left behind, So all adopted in this technology, and it's amazing to see what they're doing.
It's just incredible. You know.
I often tell people if you know someone who's a skeptic about crypto or they're on the fence about crypto, shared this news with them. It's not necessarily that they have to invest in it, but they can go work in the industry. They can become an entrepreneur and build a company in the crypto industry. So this is I mean, the biggest of the biggest names. Right, even the JP Morgan news I covered just earlier. These are things you got to send to the skeptics and the people who
don't understand what the hell is happening. Okay, moving ahead,
¶ Clarity Act markup delayed
not so good news. So the Senate Banking Committee confirms the Bitcoin and Crypto Market Structure Bill will not advance in twenty twenty five. Markup now expected in early twenty twenty six. So this is not good. We were hearing a lot of talk about at least getting the markup done. We realize it wouldn't pass. Just my timing perspective, and
not even the market's going to get done. You know, I tweeted out about this saying, look, if they don't get this pass in twenty twenty six, and right, now is the top of the market, then we've been bamboozled. We got rug pull right, so we got to keep putting the pressure here. And look, I'm optimistic, but I'm also you know, I'm keeping the receipts. We got to watch as closely, right, So let's see how it plays out.
But maybe from a price action standpoint, this is a good thing in a sense of don't have this bullish news of making it through the different phases of the process happen in a market downturn like we're in right now, but rather it happens as the market isn't reversing and going into strength. Look, I know it's semantics, but I hope you guys understand it's that. This is why sometimes people time news, you know, according to how the market's
playing ads. When the market's dumping, you lose attention. Look like, for example, my views are down. A lot of people are not paying attention to crypto right now because you know, a lot of them are like, look, I don't want to look at the prices.
I it's been down.
My portfolio is not doing anything. There's no action, right. But when we are seeing price action, of course the views go up. And the downloads go up, and that's just the nature of things. And look, it's human psychology, right, So I'm not complaining. I'm just giving you guys an example of what's happening. So I again, like I said at the beginning, I think January February, we're going to start to see this market starry to pick up steam, whether that's a relief rally or the move to.
New all time highs.
And you know, I'm hoping for the ladder that move to new all time highs now. I SEC chair Paul
¶ SEC Chair Paul Atkins public blockchsin
Atkins said the following Today at the Crypto Roundtable. He says public blockchains are more transparent than any legacy financial system ever built.
What a statement, Wow, wow wow.
And that's why JP Moore against building on Ethereum and Salona and you know, all these big companies who are once anti public blockchains try to create their own private wall garden versions are now capitulating moving to public blockchains. So I think Paul gets it, and you know, I know the SEC is working on guidance. I'm trying to get Cheer Atkins on the pod, but you know, obviously he's very busy. He's hard to get so you know, stay tuned. I'm gonna try to get him on there.
¶ PayPal bank
Look at this, Paypals submits an application to become a US bank. So the reason why I'm sharing this with you is the context, the backdrop of the occ just giving these the bank charter trusts approvals to ripple Circle, Pasos and these other companies big as well, and everybody wants to become a bank now. But it makes sense what PayPal is doing. And once again, PayPal has big ties to crypto. They have the p y us the stablecoin. They offer crypto trading not only on PayPal but Venmo.
And I'm going to try to get the crypto of PayPal on in early twenty twenty six. And you know, the most recent news I shared with you all was YouTube adopting the pyusd stable coin for payouts. And I told you guys, I was going to check that out to see if that's actually working. But it's amazing, amazing, what's happening now. Final news item, the CME group highlighted
¶ XRP and Solana futures
the following spot quoted XRP and soule features are alive and ready to trade. Trade this spot price you know, on the a regulated US exchange with bite sized contracts.
And low margin.
So we're seeing all types of financial products being built here for these assets. And I know some of you are gonna say, tony futures are for shorting.
I know, I know, I know.
But the point is it adds balance to the market, right. People can go along, they could go short all that stuff. They can do spot, they can do futures, and I know the futures. But the good thing is with this asset class, it trades twenty four to seven. It's global, so it's not one market can control, you know, everything, kind of like the previous as sets and so forth. It's everywhere right as far as distribution of these assets.
So again I'm hoping that this is all the setup of, you know, a massive on wrap for.
A blow offf top.
The timing of that, boy, that is the big question, right, And look it's I'm with you, guys. I am I feeling a little bit frustrated. Sure, I have my portfolio, I've shared my goals. I want to take profits. I'm looking for higher prices. Of course, just like all of you, I got skin in the game. Man, I'm not a billionaire or anything like that. So I'm looking to you know,
make as much profits as possible. So folks, let me know what you think about this news, especially the JP Morgan news is just huge.
Man.
Leave your thoughts and comments below, hit the thumbs up button subscribe if you haven't as yet. Folks, please support the podcast by subscribing to my free email newsletter. It's on Substack. It is one hundred percent free. Link will be in the description. Check out my book on Amazon, it's available in paperback and digital, and my course at mycrypto course dot com. This is a comprehensive course that
teaches you everything you need to know about cryptos. To check it out to expand your knowledge and folks, I appreciate you all, thank you for tuning in, and I'll talk to you all later