🚨 Asia Crashes Bitcoin (Senate Emergency Meeting)

**Drew** (0:00)
Black Tuesday is upon us, as regulators have admitted they've made a massive mistake. Bitcoin plunged below $62,000 this morning, as the US Senate is scrambling to set up last-minute hearings on the Clarity Act before this window closes. All this setting up for a perfect storm of opportunity. If you are positioned correctly this year, on this episode, we're gonna dive into exactly what that means and what is the details of why we are crashing so hard this morning. Got a very special show.
Got the whole crew joining me on the episode here. Got TJ and Deezy joining me from slightly different locations.

**TJ** (0:39)
Just different angles, right?

**Drew** (0:40)
Yeah.

**TJ** (0:41)
Got the whole trio here.

**Deezy** (0:42)
I'm in the closet.

**TJ** (0:43)
Wait a minute.
No, we put the closet away a long time ago. No, but it should be a good show today. Looking forward to it. I saw somebody in the accident. Speaking of getting wrecked, looks like somebody in the audience had a car accident. So I hope everybody's okay, and shout out to you there.

**Drew** (0:58)
Yeah, VZ Fat Cat, they hit his Toyota. I mean, it's one thing to get in a crash, but when someone hits your Toyota, that's a whole other level of pain. So I hope that you are right. I hope you do call the cops. It sounds like it was a hidden run. Not good, not good. But now, other things that are not looking good are not only the US stock market opening up in the red today, but the South Korean stock market is causing some extreme chaos. We have this trading has been actually halted in South Korea after stocks plunged 10% overnight. Black Tuesday is upon us, according to some folks out there. Now, yes, the things are looking pretty grim as far as the price of Cosby. Now, Cosby is essentially the SPY of South Korea. There is a reason why the pullback is happening there and we'll dive in into this episode. And also, we have House Financial Service Committee scheduling a Clarity Act hearing for July 17th in New York. There is a lot of political connection to crypto right now and a main sticking point is the Trump World Liberty FI and kind of meme coin connection that's being discussed within these meetings, but also DeFi and a few other major points that have to be flushed out before we can actually see this crypto clarity pushed forward. So we're going to dive into exactly what that means. But first, we got to cover the reason why there's so much blood on the market.
I did get a little bit frisky on the chart pullback, though.
I took a long at about 62,000. I remembered John Dalton in our trading chat was talking about $62,000 being a likely bounce point for Bitcoin. So we were looking short yesterday. That worked out well. Right. And then I looked at the charts this morning. I was like, okay, I woke up, saw we're at 62,000 bucks. I put it along and actually made on two bit. This is a 51% grab. Like as I was setting up all this show and reading everything, I was able to make that 51% grab on a Bitcoin scalp long. And I am currently still in an ADA short and I think the other one is a render.

**TJ** (3:13)
Render.

**Drew** (3:13)
Sure.

**TJ** (3:13)
Yeah. You're talking about the quant trades?

**Drew** (3:15)
Yeah, the quant trade. And it's so weird shorting alt coins when they're like...

**TJ** (3:21)
When they're decimated?

**Drew** (3:22)
Yeah, just extreme lows there. So absolutely brutal there. But I'm still in these bloating positions. Just had to skedaddle and run with those profits on that Bitcoin snag. It was like it took me like three minutes to make 800 bucks or something like that. So I don't complain about that.

**TJ** (3:41)
Oh, that's great. And for those of you who don't know, like I said, the Quant is a momentum-based trader. So when the market starts to catch momentum one day, way or the other way, you'll see a lot of shorts pile in, a lot of longs pile in. He's looking at all sorts of different stuff for these setups. So right now, you know, the link is in our description here to join our Discord community. You get access to all that sort of stuff we're working on. We've told you guys some really interesting things to hopefully make all this stuff easier for you, not only easier to follow along, but to understand and execute yourself.
So you're not just following somebody else's calls, but you're actually set up to create this for yourself.