Bitcoin Just Skyrocketed $15,000 in 3 Days! (The Reason Why Will Shock You) | Bitcoin Simply

**Dante Coco** (0:00)
Bitcoin's price finally woke up, and it chose violence. It's up over 7% in the last 24 hours, and up over 22% in the past three days. I thought it was dead. Some people believe that Bitcoin's rising because the president hinted at a potentially sizable position in Bitcoin. Some people think it's just the market front running the Clarity Act vote on September 15th. But none of those things actually make sense. Maybe it has to do with something more magical.

**SPEAKER_2** (0:25)
There's nothing magic about the 40 trillion number, and we can grow our way out of that.

**Dante Coco** (0:31)
Today, I'm going to break down what's actually going on and why the big print that we've been talking about forever is actually starting on September 9th. We've got a lot to cover. This is Dante Coco of Bitcoin Simply. Let's go.
That's my vibe right now. And what do you know? Jim Cramer's cell signal was actually the bottom.

**SPEAKER_3** (1:11)
Arvin Christian knows quantum incredibly.
He knows Bitcoin and quantum. And I'm going to sell mine.

**SPEAKER_4** (1:20)
You are?

**SPEAKER_3** (1:21)
Yes, absolutely.

**SPEAKER_4** (1:21)
Really? Just on what he said?

**SPEAKER_3** (1:23)
Well, he's the man.
He's the man. Three, four years. David, you know when three, four years is going to happen? Like tomorrow.

**SPEAKER_4** (1:33)
Did he give you any reassurances in terms of what happened last quarter?

**SPEAKER_3** (1:37)
I felt yes. I don't know if we have a little sound about how things are going since then, but yeah.

**SPEAKER_4** (1:42)
Okay.

**Dante Coco** (1:43)
Bitcoin is up 25% since Jim Cramer said he sold all of his Bitcoin. Sorry, Jim Cramer. Michael Jordan tears over here. Bitcoin ripped past 76K overnight. And some believe it's really driven by the ETFs. The ETFs had 5.3 billion in volume in a single day. BlackRock cleared 4.4 billion itself. That's not a random Tuesday or event. That's real allocators moving real money at real size. But honestly, what is going on? Why is Bitcoin moving this way? And why is it happening so violently and so quickly? Let's get a few perspectives. Let's start with the CEO of Vanette.

**Andrew Ross Sorkin** (2:16)
100K now, later in the future. I mean, could it go higher? But in all seriousness, what do you see as likely to be the next move? How high?

**SPEAKER_6** (2:24)
When?
Well, so far, the move is all short covering. There's been $3 billion of short liquidations in the last 24 hours, that it's an all time record. So, you know, feels like if we get the real money stepping in, maybe we go higher. Nothing is in a straight line. I told you guys 100K would be next year, still believe that. And then, you know, long term, 2029, say we can hit 500K if the cycle plays out as usual.

**Dante Coco** (2:50)
He thinks that the only reason that Bitcoin is moving is because of the short seller selling. Sure, it was the biggest liquidation of all time in a single day of $3 billion in shorts being liquidated. But why were they being liquidated? Who was being liquidated and for what reason? And that's the question that Andrew Ross Sorkin asked Brian Armstrong. Let's take a look.

**Andrew Ross Sorkin** (3:09)
Bitcoin bounced yesterday. Your stock also bounced yesterday. I'm curious how much you think that was a bounce off of the back effectively of the meeting that you had, or it was really off of the bounce. I don't know if it's a bounce, but really in reaction to what Scott Besson did yesterday.

**Brian Armstrong** (3:32)
Yeah. Well, I think those are both good theories.
I'd like to think that people are reading the tea leaves a little bit on a few things regarding the Bitcoin price. One is that we've been in a bear market on spot crypto trading for the last year or so. And if you look at the prior bear markets, they each lasted about, I don't know, 370, 380 days. We're basically coming right up against that where people, they're going to say, well, this one's about over and it's time for the next bull run in crypto. They're also looking at this September 15th vote for the Clarity Act. And then traditionally, following the Bitcoin having cycles, like October, November, December, these tend to be good months for Bitcoin. So I think there's a good chance we're on the cusp of the next bull market for spot trading in crypto.

**Dante Coco** (4:17)
I do believe that we're on the cusp of Bitcoin's next bull market, like Brian alluded to, but its answers are way too simplistic. It went up 7% overnight because retail finally decided to wake up. What did they do, sell all their Nvidia stock? They stopped gambling on DraftKings because they thought Bitcoin was now suddenly a good investment? Not likely. It's also not likely that people are front running the Clarity Act vote, which we know was already going to happen, which was priced in, that's happening on September 15th. Something much bigger is happening. And like we alluded to in the episode last week with Dr. Jeff Ross, Bitcoin is no longer a micro asset, but it trades on macro moves. It moves when the macro environment shifts. And it seems like something shifted violently. And I think I know what it is.