BTC Nearing Massive Monthly Close… Breakout Time? #CryptoTownHall

**Scott Melker** (0:00)
Good morning, everybody, welcome to Crypto Town Hall. Every other day, sort of, here on X, 10, 15 a.m. Eastern Standard Time. As you know, we do the show a bit shorter these days because of other commitments. That might change, obviously, when Dave comes back. But for now, I'd love to dive right into it. Looking at the title for the first time here. BTC Nearing Massive Monthly Close Breakout Time. So obviously, I think everybody's watching the Bitcoin chart, for those who are technical.
I think that level of 74 to 76-ish was key and people want to see us trading above it.
That said, kind of an interesting area for price. And I still think we have a split world on whether we're headed up and whether we're headed down and what this means in the context of macro uncertainty and everything else going on. I mean, if anybody here has particular thoughts on price, jump in and I'm co-hosting alone. So raise your hands or just start talking, or you're going to get a very long unhinged soliloquy for me all day.

**Carlo** (1:11)
I'm here for a Scott Melker unhinged soliloquy.

**Scott Melker** (1:14)
I do it twice a day on Fridays already, 9 a.m. and noon, so it's enough.

**Carlo** (1:20)
What happened today?

**Scott Melker** (1:21)
He's not allowed to go on vacation. I know he's on vacation. I'm hoping he doesn't go the way of Ran and Mario.
Mauricio, go ahead, man.

**Mauricio** (1:33)
Hey, good morning, Scott. Yeah, just briefly, I think the level that a lot of people are looking at from a technical perspective and especially some of the smartest technical investors I follow, they are looking for a weekly close over 75, which we have not yet had in, I believe since the February 6th down or drop.
It does look like we're going to get that this weekend, at least as of right now. So I think that is the breakout signal that he was looking for in particular, John, who we're referring to, he was looking for a weekly close over 75, weekly close under 65 was a breakdown. So this is pretty much along the lines of what you just said. I'm really hoping we close this week on a Sunday over over 75

**Scott Melker** (2:22)
Yeah, I think that that is the area for sure. And looks like it could happen. So I think generally good news. I think also that this has been a very much a hated rally. If you look at perps positioning and funding rates, we rarely see price push up this much and shorts continuing to pile in and giving more fuel for a squeeze to the upside. So a lot of reason, I think, to be optimistic, at least for Bitcoin to start trading in the 80s. I guess right now we live in a world where you can only be concerned with what's going to happen tomorrow or a week later because you never know what truth or geopolitical event is going to come next.
It's been a lot harder for people, I think, to take a long term frame if they're actually trying to trade things and take a look. I mean, there's a lot of other topics actually that I think are much more interesting than price right now. I mean, this week has been bananas.
At the very least, obviously, with World Liberty Financial and Justin Sun. I mean, I think we talked about that on Wednesday. We've had a massive inflow streak here from the Bitcoin and other spot ETFs. We have prediction markets, just insanity. I know that that's not necessarily a crypto story, but it's crazy. And then, of course, I think, you know, and Marissa, I know we're going to get into this at about 1045, a lot more. So maybe I'll save it. But the hacks that have been happening and then, of course, still, you know, Coinbase dropping their quantum thesis. So I don't know exactly what direction to go in here. Actually, this is one we didn't discuss here. So I want to talk about this. The Admiral, who went on the floor of Congress and said that Bitcoin is a national security tool, that the United States military is running a Bitcoin node, monitoring the situation, so to speak, and that it's not a matter of holding the asset or investing in the asset, but that they're looking at it for a way to secure networks and use proof of work. I thought that was just an astounding, astounding clip. Go ahead, David. I'm glad to hear that we now have boots on the ground in Bitcoin. That's right.

**Carlo** (4:32)
Especially since there's this whole theory that the CIA created Bitcoin, so that's actually funny.