$70,000 Bitcoin INCOMING?! (HUGE ETF SELLOFF...)

Drew (0:00)

Welcome in, happy Monday to Discover Crypto, where we're discovering if Bitcoin can hold any support around the $80,000 region. This market's trading open action has been absolutely wild to the downside. We got some problems happening in the Middle East, some problems happening abroad in Russia, a little bit of issues going on in the world right now. And they're talking about this being a Black Monday. I'm not really feeling it right now.

Some of the signal that we were giving out on the Others to Bitcoin chart is actually playing out really, really nicely. And some of the alt coins that I like, and I have an interest in buying on a decent pullback. But God, TJ, the DeFi is not giving us any breathing room. What is going on here?

TJ (0:41)

How are you doing, man? DeFi is looking strong. I saw the big thing. One of my bigger notices today, the JPM coin or JP Morgan's coin is coming on to Ethereum, which is a huge win for Ethereum, obviously. So Ethereum, DeFi, AI are all looking extremely strong. Our whole thesis is holding up very, very well. Many of those coins are coins that we hold and we talk about.

So, yeah, happy to see you. Another great day. And I agree. They call it Black Monday, but it sure doesn't feel like a Black Monday to me. And I also think a lot of that's overblown, to be honest. I think the stock market is like 2% off all time highs. And Black Monday, I don't even think. I think the stock market was already down like 10% plus last time on Black Monday, maybe even more than that. So also, you got record puts going on and people, you know, extreme fears of, you know, I think it's a lot of hyperbole going on out there. Even won't get into my theories on what's going on with the geopolitical nonsense that's happening. But, you know, arguably that doesn't feel very organic to me either. So a little fear out there to get people, you know, to shake people out a little bit. But you got one job here if you're in crypto and it's to be strongly convicted and majorly bullish for the next 12 to 24 months. And I think you're going to do extremely well. If they shake you out, that's where you're going to have problems. But like you said, now is the time to be looking for opportunities. There is a little bit of, you know, we're going to probably mention Aero a little bit today. The merger coming up on Wednesday, you know, a couple of days from now and all that stuff goes live. But we've been talking about it in school. There are, you know, Coinbase is handling it for you if you have it. Yeah, there you go. If you have it in your own wallet, there are some things to do on the aerodrome platform. It's very simple. Nothing crazy.

The main thing to do is don't panic. It's not like you have to you're running out of time or anything like that on this. But, you know, if you're if you've got locks, you've got some things to do, you know, it's going to go from VE Aero over to S Aero eventually. It's not like you lose everything if you don't do anything, but you are going to have to migrate over to the new token going forward. So that's all that to say. Aerosyn is 78 cents is looking juicy to me because that was one that was on pullback. Seventy-seven cents now.

Drew (2:58)

Yeah, I'm liking this pullback a lot because aerodrome is on my first and foremost get list.

You know, like near aerodrome, they're kind of at the top of my mind. We have had a few days in a row of downward pressure since it hit the 98-cent mark. It's trading right around 70 cents right now. But the bump and run pattern is playing out. I was talking about this happening last week. Boom, we're coming back down. We're doing that bump and run. The ETH to Bitcoin chart going exactly where I said it was going to go after we lost that internal channel. And really Bitcoin is the main thing I want to pay attention to first and foremost. So right now we're at $81,800 on the market open for Bitcoin. The larger thing that I want to kind of emphasize here, as I'm talking about this being the Black Monday, the big cataclysm is all the S&P 500 is basically just coiling at all-time highs. So there is no massive cascading sell-off going on right now. This is manufactured fear.