Bitcoin’s Dump Will Get Worse But… | Gareth Soloway

**Ran** (0:01)
All right, right now, we have Bitcoin in freefall. We've broken down below this bear flag, and now we've even broken below the 68,000 level, 69,000, 67,913. Bitcoin is not the only thing that's broken down. You got ETH broken down below the bear flag, below $2,000.
Sol, below $80. We're in freefall at the moment, ladies and gentlemen. We're in freefall at the moment. But the stock markets are up all the way up. In fact, they don't care about what's going on in crypto, and they are in a full-blown bull market. This is very, very, very confusing. We're at a point where crypto is collapsing, stock markets at all time. I think we're all sitting here and going, what is actually going to happen on the day where the stock markets collapse? Because I don't see this anyway that Bitcoin can actually stay up while the stock markets go into some kind of meltdown or some kind of collapse. We're going to be talking about that. We're going to be talking about the NASDAQ. We're going to be talking about gold. We're going to be talking about software. I've got Gareth Soloway here with us today. We're going to make it a jam-packed show full of charts and macro talk. So lots to do today.
If you're new to the channel, welcome. This is Crypto Insider. I think you guys mainly know this channel. We've transformed this channel into much more of an institutional content channel. So if you're looking for much more serious institutional stuff, a lot more interviews, a lot more macro analysis, this is the place to be. So if you're not already subscribed, subscribe to the channel. If you are already subscribed, then smash the like button. It really helps us get distribution here. Anyway, guys, I don't want to spend too much time on the intros because I want to get straight into the alpha. I'm going to bring Gareth in. Gareth, how are you, my friend?

**Gareth Soloway** (1:26)
I'm wonderful. Thank you so much for having me, Ran. Great to see you.

**Ran** (1:29)
What a confusing market if you're a crypto holder, right? I mean, you're torn between this four-year cycle bear market. And on the other hand, you've got like the biggest bull market that we've ever seen in every other market, right? Like every other index is pretty much exploding. I want to work with you to decode all of those things. But I think probably the best place to start is, let's start with Bitcoin. How much more pain is left, sir? How much more?
Make the pain go away. Make the pain go away.

**Gareth Soloway** (1:56)
I would love to. I would love to. Listen, the chart, you pointed it out. You had the bear flag, the trend line break here.
Look at how big of a drop we're seeing today alone as money is just running from Bitcoin. We had this great longer term kind of consolidation move up where we went from 60 to about 83,000. So I mean, percentage wise, that's a decent move, but it was all inside of this previous drop. And what we can see here is that the last time we had that, we had the same sort of pattern formation, and then we took another dump, right? So we have to think that we're kind of in store for that same sort of thing. First major support is going to be the low at 60,000, but I would think that we're probably going down to that 50,000, pierce 50,000 marker at minimum. Then we got to look and see, like you said, so confusing. NASDAQ makes new all time highs every single day. Bitcoin used to move with the NASDAQ, now it's not. And the question is, what is it? I mean, we have Michael Saylor saying he sold a little bit, he said he never was going to sell.
There's really, I think, this trust level within crypto. And we thought the president Trump was going to come out and do so many good things. Honestly, it seemed like a lot more rug pulls than anything else. And I just think crypto has kind of gotten a backseat now to semiconductors and AI, right?

**Ran** (3:11)
So let's talk about semiconductors and AI. So when you look at the semiconductor and AI markets, how heated are they? Like, are we in bubble territory? Are we in blow-off top territory? Would you be deploying money in anything like that?

**Gareth Soloway** (3:26)
No, no. Oh my gosh. So to give you guys some of the stats, the top 15 AI-related stocks now account for 40% of the total market cap of the entire stock market. That is beyond the.com bubble highs of percentage of total market cap.