Bitcoin Just Flashed Kraken’s 113% Buy Signal At $63K

**Scott Melker** (0:01)
Bitcoin just flashed Kraken's 113% buy signal at 63K. What does it mean? What should you do? Where will Bitcoin go next? Is Michael Saylor killing all of us? We've got a lot to talk about today. Wolf Of All Streets, right here, Friday. Let's go.
Good morning, everybody. Welcome to the show, and welcome to my lakeside villa here somewhere in the mountainous hills of Switzerland. I hope that you are all having a wonderful Friday. As you know, on Fridays, I make a point to do absolutely no research and just show up and say things. And I think that's a compelling format for a show, honestly one that I should probably maintain into the future. So I think there's a lot of topics worth discussing today. I'm going to tell you about the Kraken signal that just flashed, the guarantees, mega returns into the foreseeable future. We can talk about what happened with STRC and SADA yesterday. Of course, we got some stories about stable coins, we got JP Morgan, we got BlackRock, all of those things. But before we do that today, we're going to do something different. I'm going to play a little ad here from one of our amazing sponsors, so I'll be back in just a moment. Today's video is sponsored by 21 shares. Now, I got to be clear upfront, this isn't financial advice, investing carries risk, and depending on where you live, their products might not be available to you. Talk to a financial advisor before you do anything. There's a basic difference between how retail investors and institutions access digital assets. Institutions have access to premium exchange listed products, publicly traded, institutionally designed, and collateralized. That's the infrastructure that exists for them. Retail investors mostly deal with crypto exchanges and custody directly. Completely different things. 21 shares is one of the largest ETP issuers in the world. They build that kind of product, institutional grade, fully collateralized, trading on global exchanges. That's what they do. The point is understanding the different access methods exist. The infrastructure matters. How you get exposure to an asset affects your actual risk and your overall market positioning. That's what's important to think about. If you want to learn more about developments in crypto and digital assets, subscribe to the 21 shares newsletter for solid market insights, product updates, and real analysis. Follow at 21 shares and at 21 shares underscore US on X for crypto education and market commentary. I felt pretty good about my hair in that.
Honestly, check that out, check them out, check the things. Now listen, 21 shares. They're awesome, seriously. Now let's talk about the title here. Bitcoin just flash, Kraken's 113 percent buy signal at 63K. Should you sell? Should you buy? Should you die?
Here it is. I did the wrong one. Look, oh, buying Bitcoin below its 200-week average has historically delivered over 100 percent in median returns. Kraken says, can you imagine an actual Kraken saying that? Comes up out of the water, it's like 100 percent in median returns, and then eats the city and falls back. Yeah, so listen, Bitcoin briefly slipped below its 200-week moving average twice in the past two weeks, a rare event. It's like nobody's ever been telling you about this, right? I've been showing you this chart for literally a month. I did an entire segment on a little show on Mainstream Media. You may have heard of it. It's called The Daily Wolf. Pretty big deal.
Showing you that we were testing the weekly MA. I talked to you the last November about how when we broke down from the 50, that the 200 was likely to be visited at the time. That was at 55 Well, now it's moved up to about 63,000. You can see prices sitting on it. As we speak, right now, exactly there, right? So once again, we've only visited the 200 MA four times in history. This is the fourth. The first two times, you saw these little wicks below it. We now have two weeks of those. It held, and that was the bottom. FTX, we went under it for like nine months. That wasn't great. Look, we're going to zoom back. We're going to do this in real time, guys. You know that this is live TV, right? Right there.
Got down below it there.
That's what the sound is when you look at a chart. So weird. Such a strange person. But yeah, and we've got bullish diversions there with The Weekly. But listen, everybody pointing out the obvious. Even Charlie Munger said it. The 200 MA is historically a great place to buy on The Weekly, because this is a reversion to the mean and usually signals the bottom. So in the case of what's Kraken, we got 113 percent over the next year. Every time we've hit that median returns, and over the following two years, 313 percent average appreciation. I don't know why this bear market seems to feel so much worse to everybody. I guess the recency bias, I think it was way worse by the way in the past.