Bitcoin Flipped BULLISH (Final Clarity Vote Nears)

**SPEAKER_1** (0:00)
Good morning, and happy Monday, Crypto World. We have Bitcoin rising over the weekend. ETF outflows have actually started up once again, and Michael Saylor, again, selling his common stock share and buying his own product, but his own product, this is not Bitcoin. That strategy is moving into right now, very interesting move. And one of the biggest altcoins out there is having a major, major drawdown right now, something I've been looking forward to. And there's a key reason why this is happening. Welcome to the show. I'm excited to have this episode on a Monday. Pump it up. You know what? We didn't die. Have fun. Don't die. Kind of the theme of this weekend. TJ war is kicking off and we didn't die. A lot of people are looking for the exchange contagion to take over and bring us to that FTX type low.
Another exchange went under another exchange.

**TJ** (0:52)
Yeah, I was a bit max and bit mart went down and we got the prices sitting right there and Bitcoin looking fairly unbothered. So I'm not sure if we are going to see these lower prices that everybody keeps talking about. You and I were just talking about before we went live. Some of the discussion that was going on in school over the weekend, it was actually, I don't know if we can pull it up, but Austin, I assume this is his real name. It's Austin Nutsman, N-U-T-Z-M-A-N-N. I don't know if that's a real name or not, but it's pretty entertaining either way. But no, it was actually a good analysis and a good breakdown. He was talking about looking at Bitcoin over the gold chart, which we've done in the past, but it's been a long time. We should probably start doing it more. And if it holds, it generally always holds. I think it was the 300 week moving average, even with the FTX collapse. So yeah, things are holding up very, very strong.
Again, the whole timeline wants these 40K numbers. I keep saying, I don't think it's going to happen. I'm not saying it's impossible. I was actually at a party this weekend and somebody was asking me about it. And I was like, maybe, maybe a 20% chance. But realistically, I think the bottom is in and we're starting to accumulate right now which again is consistent from what I'm seeing from a lot of other very, very strong traders as well.
So yeah, I mean, we got chaos in the morning, pump up right before market open, dump at 10.3 just like we normally see.

**SPEAKER_1** (2:21)
So 1% on the dime every, it's like 9.3 to 10 It's a pump up. And then 10 a.m. from there on out, it's about where your floor is down about 1.6% from that mark. And that Bitcoin to gold ratio is something quite interesting to see. I was having fun going through just general social media about, you know, stocks, crypto, and gold. And there's people that are going to the, you know, the silver dealership, you know, coin stores and things of that nature. It's interesting. There's a premium that they stack on top of silver and gold while the price is pulled back this way. And I don't think that silver and gold are stupid to buy. But, you know, I think that they're a much longer term play. And that's kind of where, you know, silver is one of my favorite stable coins, but Bitcoin is showing some major, major volatility. And there is a really larger concept here of this exchange contagion kind of leading us towards the end of the year as you can, I'm sure many OGs remember FTX didn't happen until we had basically kind of felt like we had bottomed out already. It took about 154 days from that capitulation wick to finally see the FTX destruction path kind of play into the crypto market, which brought us to those much lower levels. Right now, from a structural standpoint, I circled this last week that essentially I feel like we're in the October-ish of 2022 type zone for Bitcoin's bear market formation. And the interesting thing was that these multiple exchanges going on, we had BitMEX go under on Thursday, and the same day that BitMEX went under, there was a lawsuit alleged. And I did cover this on the show, but I do feel like this is worth covering. The lawsuit against former co-founders Arthur Hayes and the likes there within, alleging that there was some inside trading activity that was helping the exchange essentially lock positions out, go out of commission for the time being while the trades were live, and then they could go move the books internally to make bigger gains. I'll cover this a little bit more in the show, but this is a big reason why I think, you know, the Clarity Act, we're going to cover this. It's not looking good. It's the Clarity Act, likelihood of it moving forward. And even when the Clarity Act had, you know, on polymarket maybe an 80%, 75% chance of moving forward, I did not believe it because I think we have an ineffective government that is completely split and they can't get along about anything, about what to order or lunch. They can't agree about anything. So seeing the idea of a Clarity Act moving forward in this environment, unlikely, and I'll cover why.