range bound Bitcoin and the rest of the market shrug off the biggest liquidation event in crypto’s history but BTC seems stuck below 100K flooding The Zone it’s all happening in Washington DC as regulatory bodies adjust to the new regime and Trump’s crypto Zar sets out the store is crypto entering a golden age Bears on the Rampage retail sentiment goes from bad to worse as fears grow that alt season may be cancelled have we been here before or is this time different and a look at last week’s top performers tweets of the week dates for your diary and much more besides this is the coin Bureau news live GM afternoon or evening uh my name is Nick of course joining you live from Dubai and hi guy where are you joining us from uh hi Nick good to see you I yes I am in a uh I am in an undisclosed location um but you’ll be happy to see it comes it comes with robes so uh yeah I thought I I robes have become a bit of a thing the fans were speculating in the comments whether you were going to be wearing a robe so you managed to Source it very I I hate to disappoint our fans you know that Nick um now Mrs guy and I decided to just get away for a few days um get away from crypto for a few days uh I there’s quite a funny story which I’ll tell you next week um about how that didn’t quite turn out as planned um we can see here you are on a crypto live stream when you’re supposed to be away relaxing but you can take of but you can’t take crypto out of the DJ right absolutely absolutely and yet that as well that as well so all will be revealed uh next week but um yeah let’s let’s stick with this week um what’s been going on it’s been um it’s been an interesting one hasn’t it it has indeed so we’ve got a lot to talk about guys obviously um the Bitcoin price what’s going on with the regulatory changes in the US and of course the The Never Ending question will we see alt season or is alt season dead but I think as we usually do let’s start off this at the top of the stream with a look at what’s going on with Bitcoin at the Bitcoin price um so let’s start exactly with last week if we can cast our minds back to last week guy um when uh the new when trade war was just started when news were war with ch with Canada and Mexico those um those Infamous nemesises of of us were started and yes mostly caused a massive selloff in the crypto markets and all risk on assets in general right yeah yeah now this was this was crazy like at because the initial figure that we were given we knew we knew that there had been some big liquidations but the in initial figure we were given was around $2 billion do worth um and uh Ben the CEO of uh biit um weigh in on on Twitter sort of like I I hate to break it to you guys but it is a lot worse than that um obviously you know these guys at the exchanges have uh have access to all sorts of uh all sorts of data um so uh yeah it was what it was I mean so essentially at these exchanges um the there are limit in terms of like how many calls can be made to the apis from these Data Tracking sites in terms of the total amount of liquidations and um obviously it’s limited in a particular period of time and as a result um Ben came out and admitted look guys you know the numbers you’ve seen uh were nowhere near were how bad the liquidations were indeed probably has been undercounted for a number of years now so exchanges definitely do need to update the ularity of their feeds in terms of liquidations but anyways that was a massive altcoin liquidation that happened on Monday um but of course um you can see from the charts here we later in the day um Trump came out and said well look we’re going to be extending the deadline for those sanctions not sanctions um you know tariffs um where we’re going to be delaying them for a month so one month you’ve got a delay so we can we can breathe easy from the Canada Mexico USA trade War for one month uh um you know but of course you know the question is going to have to come again in at the end of February right so we’ll see what if that’s going to impact in the markets um surprisingly though last week U Michael sailor of micro strategy he did not buy sorry Nick sorry Nick I I I’ve got to correct you there Michael sailor of strategy um course strategy he’s updated updated the name Logo there is only one strategy there is no other strategy so he did not b although he did elude this week to potentially yesterday you know his in his his tweet with this Michael sailor tracker he did allude to potentially another um Green Dot coming so you know let’s if you guys obviously we live now so if he does indeed announce a buy that happened last week guys let us know in the comments and we can react to it live um but there could be a micr or there could be a strategy by coming uh this week or during the Stream I’m looking I’m looking at Twitter now uh nick uh sailor posted 17 minutes ago uh mstr has acquired 7,633 BTC for $ 7424 million um at a at an average buy of around 97,2 155 per BTC um so they now hold $478,500 BTC congratulations to congratulations Michael sailor off strategy there we go guys so he’s bought again um and it’s another buy below 100K so he’s locking in those uh on sale Bitcoin on sale below 100K um other news last week um of course we had the uh my David saxs um the AI and crypto Zar he held his press conference where a lot of uh policies were or like you know policies and Clarity in terms of Regulation and potential legislation uh class markets in In classical in True Form you know bought the news sold the event so there was a lot of runup beforehand and they bought on the announcement of the press conference coming and then sold and dumped imediately afterwards um we’ll be talking about this in a bit but it’s mostly related to the wording around this strategic Bitcoin Reserve um and then on Friday we had unemployment numbers and we talked about this last week now it was a mixed bag so because we had um unemployment rate came in a bit lower than expected at 4% versus 4.1% expected but uh the econom added Less jobs than was expected so it was a bit of a mixed bag Market did rally initially but then the moment the crypto Market rallied initially but when the US Equity markets opened obviously it fell um so yeah that’s what happened last week but now we have started a new week with new tariffs and um yeah so this was announced last night and of course um Trump new tariffs on steel and aluminum aluminium depending on where you are in the world and uh this this morning of course tanked Bitcoin and crypto we’ve got a nice little tweet here is ethereum made of aluminum because it tanked after that and um yeah so it’s true it’s uh and then of course China responds as well so we’ve now got this tid fortat trade war going on that’s causing a lot of uh fear in the markets um and the markets are indeed fearful checks this out this is the CMC crypto fear and greed index now guy note this is the lowest level it’s been since September of last year and I will note that was a time when Bitcoin was trading at 59k when there was no Clarity around what was going on with us election that was just after Germany had finished gting their their Bitcoin bags so wow the uh the the lights have gone here for coming it’s it kind of says it all really don’t but there we are I’ve got a torch on my I have a contingency plan nice sort of uh you got a backup generator as well oh there we go okay cool wow never a dull moment um yeah so fear and greed so I mean yeah this was back where so the last time the the fear and greed index was like this this was back before we knew that Trump was uh was coming in so we were potentially facing um you know another four years of a of a crypto hostile uh Administration so kind of all that Trump Goodwill uh has now evaporated it’s all important yeah exactly I mean yeah well I mean to be honest things that have happened subsequent to the inauguration potentially which we we will be talking about soon obviously in terms of altcoins especially um but also as it relates potentially on the positive side like to a look take a look at this um funding rates on Bitcoin now this is Futures funding rates um and you can see that it’s now the lowest funding rates since o August as well which is potentially a bullish sign in the sense that we’ve had the deleveraging right and there’s not too much long exposure demand for long exposure in the Futures Market which means that if we are going to have a rally up it’s going to be you know more sustained less idiosyncratic and driven by liquidation risk so that’s potentially looking bullish um in the Futures Market um this is from on Twitter we also have on looking at some onchain stats to give you guys some hopium uh this is the net transfer volume from or to exchanges and one on one day last week we had the largest uh outflow from exchanges since August which means of course people are wanting to whales and crypto holders are wanting to huddle their Bitcoin um and I mean this is also something that whales are whales are also accumulating in terms of wallet stats you can see we’ve been in um recing here pull up the yeah and pull up the chart of the Wales wallets there we go so Wales have been accumulating and the people who are not Wales been Distributing the distribution or the accumulation of wealth by the Wales continues um and I mean this is something that we can see on Wall Street R gu yeah I mean this was this is one of the most um this is one of the most discussed tweets that I’ve seen this this week um and yeah Matt Hogan obviously of uh bitwise um and yeah I I think this sums it up perfectly you know there is huge amounts of institutional interest Wall Street uh want to get into Bitcoin um we’re going to discuss some of the you know some of the other products that are available to you know to Wall Street and institutional investors a bit later on so there’s this hugely really kind of positive sentiment around uh Bitcoin um but the you know because uh because retail is is altcoin heavy um you know sentiment in that on that side of the market is is just terrible and we’re going to obviously discuss that in a bit more detail later on as well but yeah really sums up very nicely I think the the the the disconnect at the moment you know between institutional and and and Retail in terms of in terms of sentiment yep indeed and um some more bullish news to quickly look at on the macro front um is one is the breakdown in the dollar Index um it’s been it’s broken through this this trend line that we’ve seen now obviously a breakdown in the dollar strength is potentially good for risk on assets and we are also seeing um a breakdown in the 10-year yield right and this is also very important from the perspective of concerns around inflation and um pricing in the economy and obviously uh this is something that could potentially be bullish for risk assets like Bitcoin so that was obviously last week quick take a look quickly taking a look at what could happen this week um because that’s what you guys are most interested in obviously uh we’ve got still on the macro front um tariffs potentially you know there could be European tariffs as we mentioned uh there could be more retaliation uh there’s also the CPI print um on Wednesday and the PPI on Thursday which we will discuss macro events very important for fed policy um in terms of the charts quickly pull up this chart over here I just show you in terms of the Bitcoin on the 2hour 2our time frame it’s in this descending wedge pattern um and it could potentially reach uh the you know resistance there at 98k which is a key point to watch especially from the point of liquidation levels as well in the Futures markets um but if you do guys do want to play byplay of what’s going on in the markets in terms of how to trade it and what’s happening in the charts of course I will refer you to the coin buau trading Channel we’ve got Dan our head of research Aaron Moon and papa who is the moon and papa um marianao from the trading parrot and um Mariana just released a video yesterday on what’s happening in this week and what key levels to watch and Aon has got a video going out in I believe two hours or so on his trading strategy this trading strategy for making money in this market so if guys you guys want to subscribe we at 69 um you can subscribe in the we at 69420 subscribers we can want to get to 70,000 subscribers the QR code’s right on the top top uh left of the top right of the screen there so you guys can hit that subscribe and go and join the guys over at coin buau trading yeah get them up to 70k mind you if they once they get you know the the more subscribers they get them the more insufferable they become those uh those coin Bureau trading Lads I mean lovely guys but you know getting getting very pleased with themselves these days the 100K level it’s like that’s the hollow that’s more so than the Bitcoin 100K get coin bu trading above 100K boom get a PL there we go guys do Qui that’s the metric yes let’s have a look at the sentiment so I’ve been uh as you’ve been as we’ve been discussing um I’ve been just sort of looking through some of the comments seeing just what the mind what the minds is in the comments I’m kind of like yeah I enjoyed this one honey it’s all gone again uh yeah um yeah there’s a lot of lost um we’ve also got we’ve also got we pushed a poll earlier in the first time in the in the comments and I think it was about whe whether we’ll see an ALT season is something we can refer to but later but 70% thinks we will so that’s cool okay that’s good good to see people um are still hopeful um there’s quite a few people or c they were at some point um getting a little pissed off with uh leverage Traders obviously lever you know uh leverage Longs getting wiped out has uh helped sort of tank prices further so a lot of people losing patience with our uh with our trading friends um look guys I know it’s annoying but you know uh take comfor in the fact that they’re losing extraordinary amounts of money so they’re probably not they’re Los and gives you the opportunity to buy right at discounted prices right their loss is your game right it’s a zero some game right you guys pick it up you know for every loser there must be a winner and then the exchanges win the most because they get all the fees but you know whatever um AB cool also have um coin biscuit in the uh in the chat as well I haven’t heard of these guys but I’m sure they’re um I’m sure they’re the next big thing so keep a look out for coin biscuit um okay should we uh should we move on and talk about um what’s what’s been going on in Washington because like obviously it’s not been it’s not been great for prices thanks to to uh thanks to everything that we’ve um been talking about um but over in Washington DC we are seeing a heck of a lot of stuff going down that it’s been a fantastically busy week from that point of view um not only is the administration um kind of breaking you breaking their silence a bit we’re going to talk about that David Sach speech but we’re also seeing pretty significant shakeups at the at the Regulatory Agencies the regulatory bodies uh that oversee crypto so um you know we’ve got change of foot at places like the SEC the cftc uh We’ve also got the FED sort of talking more positively perhaps about crypto than it has for a very long time so yeah it’s it feels like um it feels like there’s a lot happening and most of it sort of taking us in the right direction exactly yeah so going through some of the stuff that happened last week um you know as we mentioned and alluded to earlier we had the speech from David saxs and basically there was a lot of stuff that was covered there um he said the house and the Senate are going to collaborate to advance digital asset legislation proposed an oversight Bill between state agencies and federal regulators and also potentially Revival of fit21 Bill now remember guy this was the one that I think passed the house the financial innovation technology Act of 21 passed the house last year and it was killed in the Senate on a threat from veto from Biden um so that’s a lot of people are excited about that’s potentially something that could be revived um and uh you know uh so there’s a lot of uh and he also said that that a he would prioritize us dominance in digital assets and calls for crypto a week one priority um of course many people were cons were you know crypto people are very sentiment is very fleeting right so essentially they didn’t yeah apparently the transision from the word Bitcoin strategic Reserve which was initially what was said when we going when he was elected Trump was evolved to National digital ass digital asset stockpile to now apparently assessing the feasibility of Reserve which in government speak assessing the feasibility of something is genely means yeah you know I mean it’s going to be filed somewhere else yeah I mean hopefully not though but that’s why people that’s why Bitcoin kind of sold off because it was kind of soft in the wording having said that there was positives um speaking about the stable coin Bill the one that seems to be the most likely to pass it’s now being renamed the genius act being sponsored by Senator Bill haggy um this is one that could potentially pass um it has the most chance to because it’s got bipartisan support the stable coin one did last year so this is exciting right yeah yeah and I mean you know if it kind of It kind of Suits both parties this in in that it suits the the crypto industry to get stable coin regulations passed because that I think is going to be able to unlock a whole load of you know potential and Innovation it’s going to give much needed Clarity around you know not just around stable coins I think I think that Clarity will sort of will filter through to the to the wider industry um but obviously the Killer is that it’s kind of you know the current Administration are very aware that stable coins are a great way to um you know to further spread the dominance of the US dollar and for all the stable coins that are created and bought that means well certainly US dollar denominated stable coins which I think is basically all of them um you know every every stable coin that gets created that’s another dollar of of US Government debt being bought behind scenes massive passive fire of US Government debt exactly yeah and a tether and circle now between them um by you know more treasuries more us treasuries than you know a fair few countries I think I can’t remember exactly where they were in the league table they’re quite a way behind I think more if I recall it’s more than Norway I think if I recall they hold more sovereign debt Us treasuries in Norway or something like that or Germany one of these but it was one of the one European country um so yeah big news on the stable coin front also SEC updates now I don’t know if you caught this last week a lot of people were gushing over this speech by or this statement by H Pier obviously the commissioner who’s now working on this digital asset framework at the SEC and uh she put forward this the called the Journey Begins how inspirational is that it was her owed to the crypto industry um and she said the SEC is carbing out A New Path for the digital asset sector which includes evaluating the security status of certain asset is important right because now we we have certainty around what is a security no longer Gary’s guessing game you know is it a security or not you know Bingo um so that’s exciting uh potentially also retroactive retroactive relief right for potential um people that have been sued by the ACC right yeah yeah now this would be I mean this would be huge because this this you would imagine brings to an end uh the era of Regulation by enforcement and I think hopefully this will this will be able to kind of wipe the Slate clean in a way and say you know and let’s face it how many millions of US taxpayers Dollars have been wasted on suing all these crypto companies already um and mostly mostly in a for you know for no tangible result you know the sec’s had uh so many losses in court it’s yeah I it makes it makes perfect sense I think from from every angle just to draw a line under it 100% and then there’s also one more thing potentially approvals for new enforcement has to go through the Commissioners so it’s no longer just going rogue as the litigators themselves they have to actually take these potential new enforcement actions through the likes of H Pierce and UA and the new Atkins as he comes in there was one other piece of news as well which is interesting guy I don’t know if you saw this but they also are reducing their 50 person um crypto enforcement unit reassigning some lawyers and apparently one of the crypto unit’s top lawyers was moved from enforcement into the IT department okay so you went from being a high fly serving cases to crypto companies to basically answering questions on servers and [Â __Â ] yeah have you tried turning it off and on again number what’s number sorry I’m trying to deal with that I’ve got a lot of coming in um well it’ll probably be an easier life he’ll probably you know it’ll probably be an improvement for him um I I think I got to go just going back to what you were saying Nick about um approvals for enforcement now have to go through the Commissioners it’s kind of crazy that that wasn’t the case to start with wasn’t it it’s kind of giving enormous amount of free reign to presumably not all that high up people at the SEC to be like yeah you want to take you want to uh bring in enforcement action against the crypto company yeah you go for it yeah yeah yeah you do your thing yeah it’s like surely that that should go that should come from the top like surely the commissioner should be cons exactly especially Gary is the one who’s getting like pulled in for front of Congress and being castigated by lawmakers um yeah but yeah uh there was also some updates from a few more Regulatory Agencies um positive of course cftc the acting chair also push put out a statement saying she’s going to stop regulation they want to stop regulation by enforcement against quote good citizens um and we also had the another federal agencies the fed the Federal Reserve and the OCC um and this is according to the New York Post they will loosen the tough stance they’ve had on digital assets but specifically as it relates to uh choke point 2.0 and banking services and um allow or big Banks to as well service crypto clients which is something they’ve always wanted to do right yeah and again this is this is one of those bullish bullish bits of news that I think that a lot of people haven’t sort of digested or or given enough credit to recently you operation chokepoint 2.0 has been a huge you know a huge Cloud hanging over the crypto industry and now that that is being Unwound that is going to again it’s such it’s such a sort of long-term bullish thing for the whole industry especially the industry in the United States but that will Ripple out Beyond it um and again I I I think a lot of people are sort of forgetting that you know when when they’re sort of judging judging the state of the market but um yeah I mean that’s that’s great news because that will make it easier for for crypto companies to innovate and flourish in the US and just get banking it’s it’s crazy that that was you know that wasn’t possible most important thing for a company just being able to pay employees as a crypto company having a bank finally um another thing else another thing that was another executive order guy which is pretty interesting do you ever think you you hear the stage at which a US the US government would Institute or establish a sovereign wealth fund this one this one was definitely surprising for me I mean my first thought when I heard this and I think the first thought of a number of people was well yeah Sovereign wealth fund should you not think about paying off the 30 5 36 trillion dollars of of national debt would that not be a better way to start than kind of you know starting a sovereign yeah exactly but I mean it could be a way to grow you know yeah I mean to strategically grow and especially in the the uh acquiring shares and uh strategic assets like I was there was talk apparently Trump is thinking to use this to get shares in Tik Tok um that’s something the US Sovereign welfare fund um it’s basically like he’s treating he potentially treat The Sovereign wealth fund like that um the spack the um Trump digital media what basically a blank check company to go and purchase all the world’s assets from Canada to Greenland wherever um but another positive news from on terms of like local um level in the US as well just quickly um there are at least 22 States I think that are con are thinking about Bitcoin reserves so it’s not just on the federal level yeah and I think a lot of people believe that actually when it comes to the idea of a of a strategic Reserve it’s it it’ll probably begin at the state level um rather than being a national thing and and and actually like US states have for for a few years now been a lot more uh you know individually have been a lot more proactive than the US government all throughout the Biden Administration you know States like Wyoming and Texas were sort of trying trying to kind of you know adopt a much more crypto friendly and much more crypto positive uh stance so um it’s yeah I I I’m not surprised that that that they’re sort of embracing the idea of of a stockpile and what was interesting is that not all obviously all those states are colored orange on the map as they should be but um there’s there’s a mixture of Republican and Democrat held States in that map so again it’s not necessarily a partisan thing there are there are politicians there are State Governors on both you know of both Stripes who who want this yeah it’s a bipartisan issue non-political it should just be about preserving the wealth of your of your citizens right um cool so now of course we’re going to roll with the Wall of Shame and [Music] fame I was not expecting that I almost We R back to the brokeback the brokeback version come on what who isn’t that from what’s that movie guy it’s a British from Hot Fuzz hot FS Hot Fuzz great movie great movie yeah I’d rather be that guy than you guy to be honest yeah thanks thanks for that thanks for that coin Bureau production team just because I’m not there in the studio to uh to let you know my displeasure um I I’ll be back don’t you worry um yeah it is time for the walls of Shame and fame um so yeah we’re gonna we’re gonna know who’s on the wall today guys guy you want to tell us why we here we go yes is none other than Dave pornoy bar stool Sports uh Mogul um Pizza connoisseur and now also um mecoin Schiller um yeah yeah he’s he he has had a busy weekend so I was going back through his Twitter so tldr is that basically now I I should we we need to be really clear here he didn’t create any meme coins himself but he certainly started Shilling some he he suddenly fell down the mcoin degenerate rabbit hole and started just Shilling these things all over Twitter sort of saying well you know I’m I’m going to be buying I’m going to be selling or whatever sort of but you know going as far as posting Phantom wallet screenshots um and it’s it was one of those kind of interventions from outside of crypto by you know a famous person that just it comes at a time when you know crypto is is not exactly you know not exactly having the best of weeks and you’re just like thanks Dave yeah this is just what we needed Dave por Dave por Shilling meme coins this is yeah this is exactly crypto Twitter was universally against this um and it was just crazy was a few meme coins as well stol presidenta which I what was it the jail stool which was actually listed on Kraken crazy Kraken what you like honestly I I saw that well I mean anyway such a busy weekend like it was Super Bowl it was a Super Bowl yesterday wasn’t it so like obviously big weekend like I was going back through his Twitter feed I don’t know how he managed to watch any of the game he was just so busy Shilling meme coins and tweeting the whole time like this guy is very online C more fun he’s clearly having more fun with us um mean you make more money bit you know a meme coin to your audience than bitting on Sports um but anyways we have someone else who we’ve always mentioned on the worldall of Fame and this is Go drum roll please drum roll please nope oh that was that was from P Noy themed artwork we go back to we can go back to that that was poroy um image from um what’s it people um yeah very graphic of course um SPF out there um and Hawk oh hawk in the cornin so Hawk tour is there as well that’s another there’s always so much detail we don’t that’s another rabbit hole we can’t go down right now Wall of Fame guys um we’ve got uh as we mentioned before H Pi the crypto mom she gets a special shout out in course because of her you know very thought ful statement and owed to the crypto space and she’s she’s the real one she’s the MVP she’s been there since day one yeah yeah she is a long a longstanding Ally of the crypto industry more power to her um so yeah well done well done Hester Pierce thumbs up for Hester thumbs down for Dave porno not that uh not that he cares thumbs down for alquin season mate which brings us of course to the next topic which I’m sure many people are wondering what’s going on here and this has been the the biggest discussion last week and I know we talked about it last week as well and um it caused a bit of a discussion as well within our coin Bureau Club Discord server as well um but I think it’s it’s all over the timeline all over the timeline there’s just terrible apathy about we’re not going to see altcoin season it’s not coming guys you know it’s just a Bitcoin rally and um so what kicked us off of course last week it was kicked off by that massive deleveraging we had right um it was the biggest before we pull this CH up guys basically this was the biggest deleveraging since Co Luna and FDX right in terms of total notional altcoin uh liquidations was the biggest D leverag in ever and yeah what’s I decided to go back and take a look at this as well because these previous D leveraging events and this is the um what we’ve got here is the total crypto market cap excluding Bitcoin so I.E altcoin market cap and I went back to those previous periods where you’ve get had these deleveraging events Co Luna and FTX and at a minimum it takes at least historically right it would took at least 7 27 days um to reach to to recover those losses um in terms of the altcoin market cap uh so you know it’s one of these things where that’s historically and that’s what I think potentially something to to take into account if we are thinking about where we whether we’ll see a outco season of any type um so yeah about at least more more than two months ago yeah I think it’s worth pointing out as well though like you know as we said this is the biggest deleveraging since ft X obviously prices have taken a beating but you know back back in back in the FTX days back in the Luna days back in you know going further back to covid something like this would have been people would have been talking about an extinction level event people would have been going is this it because I mean it felt it certainly felt like at at those times maybe not Luna but certainly like FTX and now it I I think that the you know people understand that the crypto Market is is a lot stronger than it was then and yeah this is this has been pretty ugly to see this kind of deleveraging I I I want to take some positives from it though because I think the market dealt with this and kind of showed its maturity um through this so I you know it’s it’s certainly not a a complete positive but I think there are positives to be taken from it yeah 100% um but just quickly taking a look at another thing I mean the question now not just about altcoin the total market cap of of the altcoin space which is something that could recover will recover and could Val the question comes down to and this is something I like to look come back to it’s altcoin relative to altcoin market cap relative to bitcoin right or Bitcoin relative to the the altcoin space right so that’s or the total market cap and that’s Bitcoin dominance um so if you take a look at this chart as well um this is from wrecked capital on Twitter and his theory and as he posits here is that we had we had an altcoin season already it was a mini rally in terms of one of the criteria for altcoin season was a mini rally in the altcoin market cap which is of course a fall in Bitcoin dominance which happened from November to about you know December um so very small short altcoin season that’s now basically been trumped by Bitcoin Going On An Almighty Rally or Bitcoin dominance going on on a rally as well and he followed on from this potentially we could see Bitcoin dominance going to like 71% before any sort of altcoin season can start to Blossom um so that’s on the charts and the Bitcoin dominant side and guy I think that one of the discussions it’s had right now and there something I feel as well is the reason why this particular altcoin season will never won’t be as big as the last ones is because of the way the market structure is changed in the crypto space because of ETFs and they unique impact on bitcoin market cap because obviously Bitcoin are as you people accumulate Bitcoin ETF shares and and ETF providers accumulate Bitcoin Bitcoin AUM it leads to a growth in the price of Bitcoin and market cap relative to Els and there was actually interesting insightful report from glass node last week with two particular charts I wanted to point out so the first one this is the correlation between um the Bitcoin major asset market caps correlation of Bitcoin and the altcoin market caps and it’s got very close to strong correlation so close to one so a strong correlation and what and yet the market caps have have diverged and glass node concludes quote suggest that the driver of the Divergence is not the rate of growth between the two but instead a substantial Divergence in capital entering Bitcoin relative to the altcoin sector so translated that’s that the capital enter in the Bitcoin space is through large institutional investors through ETFs right yeah yeah it’s I it’s being kind of I I guess you could say it’s being sort of siloed isn’t it the the the the capital that’s going into Bitcoin in previous cycles that would all go into the sort of same that would all end up in the same big pot of you know crypto whereas now it’s sort of been a lot of it is being siloed off and it’s being you know it the ETFs are kind of almost a sort of separate Market aren’t they not so easy to uh not straightforward at all to rotate out of and I think the investor profile of the sort of people and institutions that are buying those uh ETFs you know because for them well for us Bitcoin is you know Bitcoin is a safe asset isn’t it Bitcoin is our is our flight to safety for most regular investors and certainly for a lot of Institutions you know Bitcoin for them is like whoa you know this is this is really risky we’re you know they don’t see it the same way that we in the crypto industry do so I think that’s important to that’s probably for a lot of people just BTC thank you very much that’s risky enough you know they don’t the the altcoin casino is not one that they want to uh to drop into anytime soon exactly yeah and it’s also difficult to rotate because of the fact that these are ETF shares um one other point that the from the glass node that I’ll just rais is the um decline small wallet transfers uh compared to previous cycle tops which obviously just shows that it’s big wall big sized entities that are buying this so This suggests that new demand for BTC has been dominated by larger sized entities rather than small retail sized entities and this is quite this tweet is quite aopo and this is from Jeff Park the head of alpha strategies at bitwise and here’s the the case he’s making here is look in the past institutions and larger investors would U would use the altcoin space as a lever beta on bitcoin so essentially you get more gains and um and uh volatility from Els than you would from just holding Bitcoin however given regular changes and also Structured Products and these things that that are being released on Wall Street large institutions can get Bitcoin leverage through other means and they don’t need to go down the risk curve on altcoins to get this leverage yeah and you were talking a few a few weeks ago um in on on one of these very streams about the launch of those Bitcoin options products weren’t you you know that these are relative L new so yeah I think at the time we were sort of talking about those being a positive for you know certainly for Bitcoin and maybe for the overall crypto Market because that represents another sort of area in which capital can enter the market but as you say these are products for for a specific type of investor and this is you know they’re not that’s not going to find it those that money is not necessarily going to find its way into alt coins exactly but it’s not all doom and gloom guys because there are other considerations and it’s always good to look at um this from the perspective of a few other things because this is basically like a chart from Twitter um Luca on Twitter and it’s basically looking at this Bitcoin dominance thing as well and what he’s showing here is that um you’ve got uh uh this deviation and capitulation on alts that’s basically people think you seen an altcoin season starting and then you have a massive deviation in capitulation and he’s comparing it to the previous cycle right to 2021 and he show in the chart in 2021 so you had the deviation in capit that went to 71% and then what happened after that you had a massive fall in Bitcoin dominance which means a massive Almighty altcoin rally that started after that cap capitulation so at least from his analysis we could potentially see it’s a strike and correlation the fractal looks similar and if it plays out you know we could have an altcoin season soon although he thinks Bitcoin R dominance could still rally um and then um also guy I mean if you cross your mind back to the previous cycles and previous 2021 cycle this people people have always been saying at Peak when alins are at the peak Peak apathy people have saying there will be no Al sequencies and this is the BTC cycle and always alwayss it turns out you know in the past that that was the sign that you know when sentiment was the lowest that’s when things started to turn around yeah yeah and it’s something that you know those of us like like you and me Nick who who’ve been in for a few Cycles now it’s like I mean it’s easy for us to forget isn’t it and I guess people who maybe this is their first cycle or maybe their second cycle you know it’s we we we have such short-term memories so so often when it comes to this sort of thing it’s like yeah this is it oh you know this time is different and yeah yeah I it makes me wonder Nick are we gonna be doing this show in 2029 and having this exact same conversation can we bring our same notes we just need to change the date that’s it exactly the same story um I’ll just be a bit grayer and yeah I think it’s a situation as well and thing I wanted to point out um that uh the whole question one of the biggest arguments for oh we’re not going to see an altcoin season this is another chart as well which which you guys can take a look at on the screen and come back to later I won’t go through it right now which is short on time but um basically the argument that’s been made guy around oh we’ve got such a massive uh supply of altcoins too many altcoins millions of altcoins people aren’t going to want to buy altcoins now because of all this and an interesting Counterpoint I’ve heard about that is well look at the stock market there are thousands of penny stocks out there you don’t because you have these penny stocks that are worth nothing that no one trades that no one that people aren’t going to go and bid Nvidia that they aren’t going to go and bid Facebook or Google or any number of Assets in the S&P 500 so just because you’ve got all these this plethora of excuse the word shitcoins out there right that no one’s going to want to buy doesn’t mean that people aren’t going to go want to go and bid the top 50 or top 100 altcoins by market cap um you know it’s it’s just it’s just a matter of and Retail is not going to want to explore oh there’s a million there’s 20 million coins now I have to go and study everyone I’m going to go and treat the same due diligence to the coin that just launched on pump do fund versus an investment in Salan or Su or whatever so that’s an interesting cont point and I think it kind of does make sense absolutely absolutely does and yeah it’s like well you know I I think to my portfolio because I’ve been looking at some of the alts that I hold and just like oh God I’m so you so underwater on some of these but actually the vast majority of my portfolio is is made up of assets you know even if you discount Bitcoin I mean you know almost half of my portfolio is Bitcoin but even if you discount that most of it is still in assets that are within the top 20 cryptos by market cap so you know I think it I I think for this cycle yes it’s going to be it’s going to be that much harder to pick out a 1000x that’s going to come out of nowhere and and pump because it you know that that was easier in the last cycle when there were when there were perhaps fewer fewer coins but I think it it kind of goes back to what we were talking about a bit last week as well does is it it’s like what are the what are the ones that you have the most conviction in and I think you know if if you’re someone who’s got you know your highest conviction is in you know an altcoin with a sort of sub five million market cap then you’re either you’re either extremely optimistic or you need to rethink your conviction because you know I think that some of the winners are kind of already kind of obvious in terms of you know in terms of market caps and things like that so I think that’s something to bear in mind you know as and as we’ve always said like you know altcoins especially low caps there is a space for there is a space for them in any portfolio because obviously that is how you turn a very small amount of money into a very large amount of money but you’re gonna you would have to be extremely lucky to to to to strike it you know strike it um strike a a winner on you know on even one or two so it’s that’s why it’s important to go for higher market cap ons as well more established ones some positivity on the altcoin season there will be an ALT season guys it won’t be what you we expected in the past but there will be a perfect opportunity to get some very strong good players on the altcoin space and speaking of which if you are thinking about picking up some altcoins well I couldn’t think of a better place to do that than uh binance so shout out to our brand our brand partner um binance we’ve got a deal going on there where you can get um signing up with a link below you can get an exclusive 20% trading fee discount for life and a $600 bonus and um what once you’ve your crypto your altcoin you of course you’ll want to secure it on one of the best hardware wallets out there Ledger and uh they’ve also got a giveaway of $10 $10 in Bitcoin um in a redeemable card that you can get after you’ve Port your device um The Ledger flex and stacks we’ve got a few of these already they’re great products and guy we met last week we met the um the CTO and cxo of Ledger right yeah yeah really smart that was a great confers that’s one of those ones you just like I could happily sit here all evening that was on Thursday so I had to go off and do NFA but yeah we had a really good chat with those guys they are working on a lot of interesting stuff there at ledger so and especially stuff around you know making crypto’s ux making it easier for people to interact with crypto in in a safe way so you know i’ I’ve been banging that drum for a long time that that’s so important so um yeah it’s h good things good things coming from them keep an eye out for any announcements because they’re going to be at the conference circuit so there’ll be a lot of exciting announcements coming from leer absolutely time for the top gainers guys okay uh this is an interesting one uh some interesting top gainers so this is um the uh this is the top performing altcoins from the top 100 uh from last week first up um Bensel I don’t I can’t recall if tower has figured in the top gainers list doing this um so Nick are you ready to are you ready to hear why to has had such a good week I’m I’m dying T guy I know you are I know you are this is because um so this is because the dynamic towel proposal recently passed uh what is dynamic tower I hear you as you can imagine with all things potential this is extremely complex so I’ve been trying to make sense of this for a while Dynamic tow as I understand eliminates centralized root validators um they were the ones that used to judge the value of subnets thank God I mean because those those root validators centralized root validators I mean it’s been the biggest problem plag in the crypto for a long time and how can you adequately judge these these subnet values guy I mean that’s that’s like the golden absolutely that is the golden snitch of crypto so yeah instead subnet value is going to be determined by the amount of tower staked in their liquidity Pools by users um there are 50 plus bensur bensur subnets um and now each one has its own deta token paired with TOA in decentralized liquidity pools obviously there is a heck of a lot more to it than that but it seems like um you know it had a community vote for this uh and that has energized the potential Bulls one of whom is Barry silbert do you remember Barry silbert silbert yes the name Rings Bell of course yes Barry is a t Boro that’s crazy man what a world we live in absolutely absolutely so Barry silbert of digital currency group once arguably one of crypto’s main characters obviously digital currency group did not have a very good 2024 um so has sort of you don’t hear very much I mean you never used to hear that much from Barry anyway but um yeah he is uh he is long long tow okay what’s next Nick next is Litecoin LTC now this is interesting um guy do you know that Canary Capital has filed for a um ETF and that Litecoin the odds of a Litecoin ETF according to poly Market are at least 81% to be approved this year and I’ve heard the Bloomberg ETF guys well say that that the most likely ETF to be approved will be Litecoin okay yeah okay so people are front running front running that by buying LTC over the last week or so and the Litecoin intern has up there the Twitter game considerably it’s yes litecoin’s Twitter page has gone from something uh Savage there we go man oh dear this intern is single-handedly controlling you single hand div developing the road mapap for Litecoin on a tweet by tweet basis beautiful do you think it’s like Charlie Lee’s young cousin or something like that has just uh has just taken over um yeah Taylor Swift did not have a good Super Bowl did you um okay so that is uh that is Litecoin still doing it after all these years um good to see uh good to see a granddaddy outperforming uh next up um you won’t be at all surprised to hear that the uh another another week as a top performer uh this is Mantra and om um I think now I’m pretty sure this is mantra’s third third consecutive appearance in the top gainers I think that’s a record a few months ago you remember when sui was having that absolute run I think sui figured three times on the spin yeah um but Mantra has if not beaten that record then certainly equaled it um to be fair though guy um it is quite misleading to the extent that many people would think about oh it’s been featured three times in the games of the week it must mean it’s been up and to the right but no it’s because crypto has chopped so much it’s like rally fall rally fall so it’s always like Mantra is the one that high to play on the altcoin space so it’s like always rallying a bit more um because it’s obviously in that rwa space right and people are very bullish on rwa um speaking of which we’ve got a video on rwa coming out in two days so if you’re not subscribed yet do so right now yeah I think we talk about Mantra in that don’t we um yeah so Mantra perhaps om not so much a top Gainer as one of the most resilient uh coins out there this week um now Nick are you sitting down because there um okay you yes you are sitting down um next on our top gainers list now just is is eos but but but guy this makes sense but because they have didn’t you hear about the EOS conference going on right now in Thailand all three there oh wow okay so they’ve they’ve they’ve put yeah exactly they’re having a coffee at they discussing the future Road EOS wow well you know they say every dog has its day um and uh never was never was a true word spoken eos’s case good it just it just won’t die will it speaking of dog has its day Cosmos man atam wow that’s surprising that’s a top Gainer yeah yeah um atam itself has yeah has has severely underperformed but it is worth pointing out Nick um that some of the coolest projects in crypto are in the cosmos ecosystem now this doesn’t uh this doesn’t necessarily ref any reflect any real value back to atom and this is one of Co cosmos’s big problems um but Mantra that we’ve just talked about is a cosmos project um obviously over the last week or so we had the launch of bar chain which is Cosmos as well um so there is like lots of cool and interesting stuff happening in that uh in that ecosystem but yeah I must say I was I was a little bit surprised to see uh atom outperform um but uh yeah there we go good news for atom holders there we go right time for tweets for the week tweets of the week yes uh great so first tweet guys this is from this is from Tom stport Tom boys I finally made wife changing money my wife found out how much we are down and left me wife changing meaning wife changing you here we go yeah wife changing money uh next week guys this larious so this is basically unusual ways is B basically saying this guy um Michael Collins is a US Representative guy um in the US House I think and uh he he just disclosed buying 11 15K in eth and 30k in Virtual and he sold virtual 9 days later after being down and estimated 38% and of course he bought numerous other crypto over the last three months and rep representative Mike Collins himself on his government official Twitter account responds in the trenches one of us one of us extraordinary extraordinary I I I love how I I love the idea of this guy just in his in his office in Congress just scrolling through crypto Twitter and just absorbing the job don’t care about this fil man I can’t sit into this hearing who gives a [Â __Â ] about this I’m just going to go and [Â __Â ] post on Twitter DJ jump in the Discord server guys what are we aping today what’s the ca send the ca God like you know this would have been hard to imagine just uh you know just a couple of years ago um someone on Capitol Hill uh speaking speaking our language so yeah another posim we’re living in ass simulation and speaking of living in simulations the next week don’t this happened today guys so the president of the central AF African Republic launched a mean coin on pump do fund Salon to support National digital development I mean as I thought we saw it all man you know yeah I basically said to myself I always knew that I said to myself I always knew that cryptocurrency would change the trajectory of Africa and um help monetary systems there I didn’t necessarily expect a president to launch a mcoin on pump do fun but this is the reality we live in yeah yeah I mean and it’s it’s interesting it’s the Central African Republic because do you remember they were sort of the second Nation after El Salvador to sort of adopt Bitcoin and they sort of adopted it as it wasn’t quite the same sort of um uh level as El Salvador did but they sort of got in on that and then I think they kind of dropped it and stuff to be fair to be fair I have heard I mean a bit of a tangent but I’ve heard from I’ve spoken to people who have been involved to some degree with um officials at the C and they were looking at ways of potentially tokenizing minerals or Bitcoin retri Reserve so it seems that they shoved all those plans if this is true because apparently there’s rumors it could be uh deep fake which to be honest the fact that we think it’s more likely to be true than not based on a defect shows the state of we’re in the cycle we’re in but um yeah apparently they had been thinking about it before and he thought well why would he go and digit tokenize assets this just going and launch a meme mad mad predictably enough it is down bad last time I looked anyhow um so this one from uh this one from from Kobe um now Kobe is OB obviously uh crypto OG he’s also recently set up this echo. XYZ which is a sort of kind of I guess a sort of crowdfunding platform um for crypto projects you know gives sort of a syndication of Syndicate deals basically get um go and get kyc and verified um and these vaults that you can participate in these deals um so yeah and then lots of projects have been using them um but the tldr what he’s saying here is basically that the token teams are basically in shows you guys there’s not just nefarious activity taking place among mecoin DJ on Twitter but also with projects if you buy $5 million of our token we will send you another 5 million so you get a 50% discount overall on the buy as long as you hold for end days so basically trying to create artificial demand at tge which inflates the price for the Future Foundation sales which could come basically to for liquidity for the founders and the team um so it’s like low float high fdv on steroids sad State of Affairs really sad to see yeah I I kind of feel that this is part of Gary gendler’s Legacy in a way like this is Market manipulation isn’t it and this is this is the state of this is the state of the market this is what happens when you don’t get clear regulations when you don’t get you know uh a set of a set of regulations a set of rules that you can operate in this is the kind of behavior that that that that flourishes and yeah it’s um yeah the sooner we see the back of this kind of crap the better um but yeah next week we are and then from a friend of the channel Ben khah yeah uh Ben has obviously been talking about Bitcoin dominance uh a lot and he has been proven right um but yeah the reason why sentiment in the crypto verse is so bad despite Bitcoin being around 100K is because the entire space has turned into influencers grifting meme coins and acting like they are the next Warren Buffett true that Ben the next Warren Buffett Shing Shilling their Buffet of shitcoins um yes there we go yes coins to watch guys coins to watch this week we’ve only got one coin to watch and this is Jupiter now this is interesting because Jupiter’s hadit quite a crazy run over the past two weeks I mean maybe not to much in price but in terms of developments and also like growth of the ecosystem because they purchased moonshot another project as well um the fees were insane they went through Jupiter um and then catberry Caston bull sorry um and you know now they’ve got a lot of announcements coming this week um and um people are excited also updates on the buyback Etc and potentially price cretive so keep an eye on that and we’ve also got a uh Jupiter review coming this week uh on the main channel so keep your eyes peel for that guys um so it’s just and then some unlocks to watch as well now this one’s really interesting guy because today is an unlock of bar chain 12% of circular and Supply in an airdrop now in Cas you guys haven’t seen the price of bar since it’s launch last week which was one of the most anticipated launches of this year the biggest hyped launch um it’s yeah and I think that they’ve been sellling prior to this now this is part of the airdrop campaign but yeah I mean guys it’s it wasn’t there was a lot of negative sentiment around this project launch when they launched last week right a lot of negative sentiment and I feel it’s I feel it’s a bit unfair in in many ways because obviously you know this the bar chain launch was was talked about for a long time they obviously wanted to try and launch when the market was was doing well um time was against them in in that regard and I think because the market was so bad you know that kind of Amplified a lot of the hate that people were feeling towards I mean okay you know there are some there are some valid criticisms a lot of people saying oh great another L1 you know another high performant L1 or whatever it’s like yeah you know there certainly you know there there are reasons to there are reasons to question it but I feel it was a little bit unlucky but um yeah having a big unlock like that so soon after the airdrop which predictably of course the air drop itself predictably uh pissed a lot of people off as these things tend to do um so yeah it’s it’s not great for for barer at the moment yeah I mean to be honest I think it’s Market sentiment in general right they’re just they’re just seen as like the easy Target because they’re a launch right now and they were shorted the hell out of them and there were some other takes that I’d seen but you know it’s just a difficult Market environment to launch right now which doesn’t bode well for the other big ones to watch out for monad and Mega E they’re probably watching that they’re probably thinking don’t want to get beat right now but um huh Q2 maybe launching Q2 push push back to Q2 let’s push that back let’s push that back keep going towards the trenches or next cycle if you don’t if there is no um there’s also another sand quickly there’s another unlock for the sand box um sand now this one’s also quite sizable to pull up the unlocks there guys again um this is uh this one’s but it’s about uh 8% but it’s also going to it’s not an airdrop component it’s going to advisor and team as well potentially some cell pressure that’s that metaverse one from last cycle guy so it’s one of those other ones which was doing pretty well last um in the in this runup in in December actually I think in the old cycle run up um so yeah yeah dates the diary um two dates this diary as we mentioned them before um we have got on the February the 12th which is on Wednesday CPI of course this is obviously where how will drive fed policy 2.9% was the previous they’re expecting 2.8% which is potentially a cooling um I’ve seen some commentary that we could potentially see a cooling which obviously would be good because that means that more likely than not the FED is going to want to cut uh so that’s an important date to note and then on day after that we’ve got the PPI so you know the producer price inflation 0.2 versus what we get 0.3 expected lots lots of delicious inflation data for those those people who like that sort of thing um okay let’s have a look through uh let’s have a look through what people have been saying in the comments um yeah people pretty resilient actually I was expecting slightly worse sentiment across the board today but our commenters have not let us down poor old Gene Francis is still stuck in bloody Swindon um so look folks you know you may be down bad but some people are stuck in Swindon um uh Kean Liam makes a very good point patience is the most valuable asset in crypto I think I think you might be right there Kean it’s yeah as we as as Nick and I were saying earlier you know we have been in this situation before you know post harving years you do get you know you do historically get this sort of price action so yeah I think if you’re you know I think what a lot of people need to do is just don’t try and play this just sit tight we’re as we’ we’ve mentioned so many bullish things on this stream today in terms of you know bullish developments that are either kind of happening now or they’re in a pipeline for the whole crypto industry so yeah the best thing about patience is like um the best about patience is like knowledge it’s free you just have to work on it yeah exactly exactly very Zen Nick very Zen um want cookies also makes a good point this is something that Ben count too has been talking about I think we need to see QE first before alts run yeah definitely this is again this is something that gets forgotten a lot we are still in a high rates environment yes we’ve had uh yes the FED has taken a few basis points off that uh off that um interest rate but that we you know we’re still a lot higher than we were in the last Bull Run so we also got some QT going on and the tenure is still pretty high um so once the QT first needs to stop and then you know we need to see the tenure coming down and all this kind of stuff yeah yeah a good uh another good point here from BK alt season is here just changing narratives I think you were you were mentioning this ear talking about earlier weren’t you Nick it’s yeah rotation through narratives exactly um although yeah like and that’s what we probably see going forward right um especially if we do get the M rotation into Els in general it will be rotating through different narratives and that’s the point around don’t huddle for life you need to obviously think about El strategically what’s making sense right now and what’s good absolutely just a couple of others uh random dude 45 who is very interesting thumbnail pick um interesting take salana ruined the market a Magic Poop Cannon of memco that rug pull people every other minute yes and no I I mean I kind of think it’s a little bit it’s a perhaps a little bit I say this is a soul holder so you know perhaps it’s a little bit much to put the blame on on salana itself I mean pump. fun if you like yeah yeah but app you can’t blame the app I mean you can’t blame the chain for the app right um uh so yeah yeah um Mr Bill is unhappy because uh guy your cousin stole my gear um look that that’s that’s between you and Barry Mr Bill I can’t I’m not going to intervene on that what he talking about well I I don’t know I it’s probably not fit to discuss on a family stream like like today’s is speaking about look look like I say I don’t want to get involved where Barry’s concerned I don’t like to get involved that guys guys off the off unhinged um and strowman asks is that a hotel room is he fleeing the country yes it is a hotel room no I’m not fleeing the country um Mr guy and I are just having a few few days away um but as I say uh as I will explain at the top of next week’s stream even when you think you might have got away from crypto crypto doesn’t get away from you so uh so tune in next week so you guys definitely tune in next week to hear that it was give crazy full rundown um okay that is uh that is about it for this week so Nick good to see you um I hope you’re I hope you’re keeping everyone back at Dubai HQ everyone’s missing you guy and yeah enjoy your time whatever time you have left try not to look at the charts you know try to spend some quality time thank you thank you whatever time I have left that almost sound sounds like I’m coming to the end of my life doesn’t it no um thank you very much thank you very much good to see you everyone thank you for watching tune in again next week and we will see you soon cheers guys [Music] I’m now living in a fom by the river this this PE with the next thing NE Che yeah I have more blood to be donated give me the king size fries Nick I care for the Lord don’t worry being happy folks It’s All a Game oh guys looking very B I am me don’t worry be happy folks it’s all the game oh guys looking I [Music] [Applause] [Music] am good stream guys eh you sure you stopped this time though because like last time when you we ended the stream you left last it’s supposed to end when the uh actual credits are finished right so you sure you stopped it’s a good stream right well yeah what’s guy doing yeah and
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