🚨Bitcoin Rally OVER? Exchanges COLLAPSING

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We are live. Welcome to Discover Crypto. One of the longest standing crypto exchanges in the entire market has officially decided to close its doors, giving crypto veterans flashbacks of FTX at the last bear market low. They also have Bitcoin getting rejected at a key level. Now we've got to determine, can the rally continue? And I have some deeper thoughts about something I've uncovered. One of the most uncomfortable truce in crypto. I've been in this industry for, you know, not just investing, but really on the limelight. The last like five years or something like that, writing and meeting all these influencers.
And I've got to discuss something super uncomfortable that really kind of dawned on me last night. But welcome one, welcome all to the show. I hope you're having a fantastic Thursday morning. It's a beautiful day. The sun is shining, but the bags are looking red. BC Data Hub showing me a lot of red when I opened up our kind of internal data hub here. A lot of blood showing, and not just on crypto, but things are looking a little bit shaky on the Wall Street sector as well. Tesla down 13%, big, big pullback there. MSTR down 4.3%.
You know, Bitcoin and crypto not doing too bad right now, but you can feel the disappointment after the lack of the continuation of the rally on Bitcoin. But Ethereum stands strong at $1,900 per unit. And XRP still holding the line above a dollar there. Solana at $76. Hyperliquid making a move back up to the $60 mark. These altcoins are fighting for their life. They're fighting for their right to party right now, but there's a lot to be discussed on the show today. Welcome on, welcome off, Stupa, Alden, DCA, Prey, Dismazed, all the peeps in the chat. Make sure to smash the like and give a follow to our YouTube channel. And I did drop a little bit of insight on the Wall Street picks of why revenue matters so much last night. If you get a chance, go check it out. And some tokenomic changes that have happened to Chainlink that make me feel pretty good about it. I'm feeling pretty good about the tokenomic changes I've seen in Chainlink. And shout out to the quant inside of our Skool. God dang, this guy was printing last night. He put in some late night plays. I think it was a mixed bag of a Zcash short and then a ENA long, long on ENA with a hundred and twenty two percent move. Geez, Louise. And we are working on automated trades for this as well, because I want to catch these in the middle of the night. Got some test wallets running on it just to make sure it works well. Now, the big news of today, as I'm sure you've seen slight highlight of, is BitMEX token. BMX token has crashed a column and collected 99 percent after the exchange announced it's going to shut down operations. Right. Now, the jitters of this bleeding into Bitcoin, but really, I'm going to cover exactly why BitMEX is shutting down, kind of the history of its founders and some of that information. Some of the predictions. It's insane. But Bitcoin, let's just talk about Bitcoin and the price action right now. What are we talking about? XRP doesn't get hacked by XRP now. I don't think, you know, I mean, I don't think XRP gets hacked. Then you know what?
At the rate I have an AI story I got to cover today, and I was talking to Nick this morning, it feels like we truly do have five, ten years of usable Internet left. I got a terrifying story about this AI breach that, you know, there's multiple reports going on right now, but the freshest one is quite terrifying. Let's talk about Bitcoin. Let's talk about Bitcoin real quick. Let's talk about our bags. So as I highlighted earlier on, I think it was last week, $67,000 was going to be a spot of turbulence. Now, we did see a nice bounce on Bitcoin once we breached into the lower portion of 57.7, and we've been rallying for a couple of weeks now. And we ran into what they call the point of control. This is where the most transactions to and from on Bitcoin have happened, and it creates this volume node here. And so I use these as notable turbulence points for Bitcoin price should it accomplish that level. We did not see the bullish break over, and I had to make a game plan around this that I put inside the School of Essentially. If you cannot break above this POC, then you don't have all of the metrics you need to see a continued breakout, right? We ran into that POC, and now we're starting to experience that turbulence. On the weekly time frame, money flow is still trying to hit the breaks, and the moving average is above it, trying to move back to the upside. But let's zoom in to the daily. Let's zoom in to the daily because I do feel that there is going to be a little bit of a beating ahead. We have a red dot printing on the daily, but we have conflicting measurements here. The money flow is swooping back into the green as we're getting this red dot. So there is a potential we see continuation on this Bitcoin rally, but over the course of today and probably tomorrow, it's going to get a little bit frisky. And for more kind of zoomed in trading metrics as I am getting my greasy fingers back on the sticks, I've been treating this trend line as just a local resistance point on Bitcoin. So while we're talking about crypto, we do have the potential to rally back up to that 65.8 mark, but we really need to see this internal downward trend line broken within the day to start seeing that momentum back to the upside. But there's still hope. There is still hope. Not all is lost. A lot of people are kind of terrified right now. A lot of people are kind of terrified. And I understand why it's just I have some longer term metrics of bitcoins growth that really need to be analyzed as the emotions are taking control of people in the bear market to just make sure that we have the right compass on our on our hip here. Now, we're seeing reports like this. This is kind of all the buzz right now is fear doom and gloom. And you're damn right. I took advantage of the of the opportunity with a terrifying thumbnail with Arthur Hayes on it. Absolutely. With today's news, I would be dying if I wasn't. Now, Bitcoin and Ethereum linked protocols have lost thirty five million dollars in multiple attacks hours apart. This is three fold hits. Now, at least three of these protocols were drained in a quick succession over a six hour period. Very quick time frame here. Combined total exceeding thirty five million dollars. According to blockchain data analyzed by Coindesk and reported by security firms Blockade and Peck Shield. None broke the underlying cryptography in these exploits. Right. So that's important to note that nothing from a structural standpoint was broken. Either each was either a logic flaw where the code ran as written, but the rules still let the money out or a compromised key that handed an attacker control it should have never had. So these three exploits have been at Perpetuals Exchange, AFX, not BitMEX. And that's the thing. We see the major, major dump here in BitMEX. And not just a few days ago, we saw the major dump in DxE. DxE, I want to look this up here real quick, because there was a reason why I was kind of ignoring this thing, is because I knew pain was coming. And here's another flex of super power of assuming everything is full of crooks until proven otherwise in crypto, because it's turned into a knife fight, right? And so this DxE collapse was not an exploit either. This is insider wallets, foundational level wallets, full clipping this chart, you know, basically from 48 bucks all the way down to $3.