Bitcoin Hits First Real Resistance After PUMPING 45% This Quarter | Gary Cardone

Scott Melker (0:01)

Bitcoin hit its first real resistance at around $88,000 after pumping 45% this quarter. Quite the move, many calling for 90 and above right now. We're going to talk about that and everything else that's driving markets and the news today. Of course, we have Andrew and Tillman, but because you guys don't really like them that much, we also brought someone you do like, which is Gary Cardone. You guys don't like me either, it's fine. Let's go.

Good morning, everybody. Happy Tuesday. It is dawn here in New York City. As you can see, look at that view. Look at that wolf. I made that on ChatGPT this morning. Not going to lie, I vibe coded a new studio background. Do the other one. Do the other one. Yeah, look at that in the window. All right, I'm going to go ahead and bring on Andrew, Gary, and Tillman.

Dude, the AI is amazing. Seriously, I did that this morning. I'm not saying it's that great, but I have Grokbot now too, and I was like whip up a dollar cost averaging calculator for Bitcoin to show the history of dollar cost averaging at any point, and I forgot I did it, and then it sent me a video of it like clicking through and showing me all the things that it does.

Andrew (1:28)

Yeah, it's going to meaningfully change how we do things and what we do and when we do it and where we do it.

A year from now, there's going to be a lot of changes, especially in finance. A lot of change in finance coming to the guys that put on a suit and tie every day and action mark.

Scott Melker (1:49)

This show is going to be for Grokbots.

Andrew (1:51)

Yeah, right.

Scott Melker (1:54)

Gary, what's up, man?

Gary Cardone (1:56)

What's up, buddy?

Scott Melker (1:57)

How are you doing? How are you?

Gary Cardone (1:59)

I am awesome.

Scott Melker (2:01)

Very smiley today. You seem happy. I think you just froze on us again now.

Andrew (2:05)

Sweet. Frozen Gary is a killer way to start the show. You know what I mean?

Scott Melker (2:10)

With a smile. Okay. So we're going to dive into some news while Gary unfreezes himself in the matrix. Stuck.

But Bitcoin ETFs attracted nearly nine billion on Monday. Ninth largest inflow ever. To be honest, I was looking at nine.

Andrew (2:28)

Yeah, that's not a surprise. We'll probably see a big number as well come through today. I think we're going to see big numbers happen for the next couple of weeks. The interesting thing about that nearly one billion is, not half or more of it came from iBit. Only 380 million came from iBit. It was spread across the top five. Also, extremely interesting. Morgan Stanley did 61.7 million. That's the biggest inflow they've ever had since inception by double.

Their biggest number on any given day was 30 million, and it's 61.7.

That's a big number. Now, that's all demand from Friday. So that's Friday demand showing up on the books for Monday. So we'll see what happens today based on...

Scott Melker (3:23)

It's basically the big iBit numbers we can point to and say that's...

Andrew (3:27)

Option stuff, you know, people...

Scott Melker (3:29)

Option stuff, and like it's all on iBit because people are shorting, you know, the future, whatever. But if it's spread out, that's real. And this might be the first time we can go, wow, people really bought a lot of this stuff.

Andrew (3:41)

Yeah, Fidelity had big inflows. ARK actually had big inflows. Bitwise, big inflows. And again, Morgan Stanley had the biggest inflow day that they've ever had since they launched their spot Bitcoin ETF. So that's retail demand, right? Like that's what jumped out to me is that Morgan Stanley number is absolutely retail demand. That's wealth management, retail demand jumping into an asset. So important to note and probably is a harbinger of what the next, let's call it 30 to 90 days look like.

Gary Cardone (4:14)

Hey, Andrew, do you think that's public that is asking the investment bankers for Bitcoin? Or do you think the investment bankers are saying, hey, you need an allocation?

Andrew (4:27)

Yeah, it's probably 60, 40, they're asking for it, and 40 that they're talking about it. So great question. I know a lot of Morgan Stanley advisors. I've got a close friend who's one in Columbus, Ohio. And what I know about him and his team, I highly doubt they're going out and saying, hey, everybody, you need to add Bitcoin to your portfolio.

I doubt that he's doing that. But I would bet that he's getting it from his clients and saying, yep, yeah, let's do that. Let's add a small allocation.