Bitcoin TESTS $80K as Wall Street Turns More Bullish

**Scott Melker** (0:01)
Bitcoin tested 100, what did I say, 100? I did that again, I did that almost yesterday. Bitcoin tests 80k, as Wall Street turns more bullish. I was live when I did that. Yeah, $80,000. That was me doing a Freudian slip saying Bitcoin's going to 100 We have Wall Street turning more bullish here though, and a great interview with one Tushar Jain from Multicoin. Let's go.
That was bad.
My sound is glitching. I did that, it was either yesterday or the day before that I literally caught myself saying Bitcoin tests up, and then I went to 80k and I didn't catch it that fast this time. And now the algo is going to hate me because I didn't say the right thing at the beginning, and it is what it is. Good morning everybody, and welcome to Chateau Le Melker here in Austria.
Dude, it's where I'm off the rails today. So we're doing something a little different today. I've got me, myself and myself. And then yesterday, I recorded in the evening an interview with Tushar Jain, the founder of Multicoin Capital, obviously one of the big, Zcash and Hyperliquid and Solana Investments. They were obviously one of the first money into Solana and then have been wildly supportive of Zcash and Hyperliquid, so I'm going to show you that in a little while. But first, I'm going to lick my wounds from that horrid butchering of an intro, and tell you about my amazing sponsor, Le Quai.
I'm in France, not Austria, because I'm here with my Le Quai, which is again, we have three cases of it, so you're going to be hearing about poplmoos again. It's delicious. It's grapefruit in French. I did know that for those of you who didn't know that I knew that.
Imagine if I had actual sponsors that paid me actual money. That would be awesome. What do you mean? Le Quai is not a sponsor. So first of all, let's talk about Bitcoin and its amazing price. We got Bitcoin playing a little game of adjust the tip with 80k. Show you a chart here, but most importantly, look at the 50 MA on the weekly. I probably showed you this yesterday. The good thing is I don't remember yesterday. So you can ignore it. It's right there. Look at it. So that was at 81, 173 That's the weekly. This is the line to break if you're not maybe 82, 800 But let's go down to the daily because I think that we are ripe for a little retracement and I want to see it. You know, like maybe one of these and these and it goes up. You know, and then you got a guy and he's, the legs came weird. I was going to make a guy surfing. Didn't work. Not doing good today. Look, that went back to the weekly chart just as I planned. And you take a look, right? Massively overbought here on RSI, clearly putting in some bearish divergence, and then go down the 12-hour higher highs on price, lower highs on that. I think we should reset. I would just love to see us come down, test the low 70s, drop 10%, people freak out. Wow, you guys want to know what else I'm butchering? Supposed to look like that.
John, we came very prepared today. So I'll tell you what happened. Is we're trying to make it so we can get like a ticker and stuff, and StreamYard can't do that, so we spent the whole morning trying to like figure out how to download things from the Internet. And then I just didn't get ready. I'm not going to lie to you guys. But so listen, I want to address something that I've been seeing a lot around the crypto Twitter. So first of all, robot fail videos. But we'll get into that in a minute. But something I saw this morning, and it kind of like made me giggle, right? So it's this tweet right here. Nothing against the person who shared it. I don't know him. Clock is running out for the four-year cycle bros, right? It shows this shallowest bear market. It shows you this chart where clearly every bear market was exactly the same. And this one just goes up for a second, right? And so obviously, the four-year cyclers were wrong. So first, let me say this.
I was a four-year cycle isn't real anymore person, and I did this crazy thing that you guys are not going to believe. I said, yeah, I was probably wrong, and admitted that it looks like a four-year cycle now. I know it's crazy for somebody to go on the show or on Twitter and say, hey, I had an opinion and the data changed, so my opinion has changed. I do that. So listen, right now, assuming we continue to go up, this looks like the four-year cycle ended up being intact. There were a lot of things about the previous cycle that did not look the same that I've pointed out. The ETF, we got like Bitcoin all-time highway too early. Altcoins didn't really move. That was my case. But listen, here sitting through languishing summer, I think it looks a lot like the cycle.