Crypto Meets SWIFT (17 Global Banks Just Joined)

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And we are live. Welcome to Discover Crypto. It is a beautiful Thursday morning, and there are 17 banks that have moved full on into crypto adoption. We're going to go over which banks these are, their systemic importance, and which projects are likely to benefit the most from a movement like this. Over the night, Bitcoin proved it's got some support. Buyers stepped in and protected the price action as geopolitical uncertainty and unrest takes over the headlines and everyone is all eyes on the Middle East. Bitcoin did not cascade down to the 50k range like many people were suspecting it would. And there's a lot of inside baseball going on with Solana that I'm going to be talking about on this show today. Welcome on, welcome all to the channel. If you're not already subscribed, I highly recommend you hit that subscribe button and smash that like button. Let's get into the markets and see how things are looking as things are getting started this morning. Market open has happened and Bitcoin is hovering around $62,700. The market cap for the entire cryptocurrency realm is at $2.16 trillion. We have a 49 on fear and greed, smack dab in the middle on fear and greed metrics right now. And really, the DGENs are still awake. They're still alive. I've seen a lot of things happening in the trenches. But one of the main beneficiaries of a major Robinhood launch, showing itself as kind of a surprising contender in this arbitrum up 11% on the day. Venice Token, making a bounce off that key point that I marked out on the charts yesterday, now sitting at $11.66. And we have some other interesting projects here, making a move to the upside. Avalanche is up 4.6%.
Canton up 4.6% as well. Injective 5.8%. And Lighter continues. Lighter has been on an absolute war path over the past few months here. And as you can tell, the thumbnail, is this XRPCs? Well, I'm going to give you an answer to that as we get into all of the stories going on with these banks, what they're actually planning to do, and what it's going to mean for token appreciation, token pressure. Is there a moon moment? Is this that famous flip the switch moment upon us? Now, first of all, we gotta talk about the uncertainty in the market currently. We have the White House preparing for an extended military exchange with Iran. And this is over control of the Strait of Hormuz. This could stretch for days or several weeks they're talking about right now. Honestly, I've already given you my inside look at this, but we have all of this happening with a geopolitical conflict at the same time that there is an AI race. There's a race for compute power. And obviously, the two main contenders of this are the United States and China. Now, Iran, heavily connected to China. Is this a connected situation? I'll let you be the decider of that. But I wanted to highlight Bitcoin's price action. After all this terrible news broke last night, we really didn't see that massive cascade to the downside. Check it out on TradingView. What is up, laser face? Good morning, everyone.
So, Bitcoin has basically just been bouncing around here between the high 58 region and the low 60s for some time. On the money flow metrics, it's gonna be more important to look at actual longer term timeframes here.
Because, as you can tell, we've lost two major channels in a row. Essentially, when you lost the, this is when we kidnapped Maduro. Basically, $97,000. But from the low of this channel to where we found that mid-term support was 33% pullback, and now we're sitting at a current pullback at kind of channel low to a recent low that we set about 21%. There's a lot of people that are looking for that full extension of this to play out down, even some looking for that mid $40,000 region to take place. But as you can tell from this, Bitcoin is showing some fight, it's showing some strength, and we are riding off of some very interesting bullish divergences that have happened on the Bitcoin chart over the past few weeks. Now, I want to drop into Bitcoin dominance, and just a little nugget of information. You might be asking yourselves, why aren't these altcoins continuing to crash harder? Well, altcoins have pulled over, and they cannot pull over any further, and Bitcoin dominance is showing that on a very specific metric here with Bitcoin dominance on the weekly timeframes. You can see that Bitcoin is just kind of writhing around on this shelf, fighting for its right to defend Bitcoin's control over the cryptocurrency market from the 57% mark, but it has not been horribly effective at making a major bounce up. And I did give some inside baseball on my thoughts, because I am out here buying altcoins. Many people think it's a foolish thing to do right now, but I gave some inside baseball on why I'm actually interested in going back into the altcoin sector at the time being. Shouldn't I be scared? Shouldn't I be afraid? Shouldn't I be running? Well, many people out there are. Many people out there are afraid and running away from risk assets right now, but I'm seeing some underlying metrics on the Bitcoin dominance side and on the developments within altcoins that make me kind of check out, you know, a few projects that I've been mapping out for a very long time. Now, I love this. Not ready. I want to I want to read some comments here. Big tip. It's the vegetative stage just got topped, not ready to flower. I like that. I like that. This chart looks that chart looks like a big rug pulled down for 11 years. I think you must be talking about XRP. You must be talking about XRP. I'll chart out XRP after we get through the main stories. A lot of people on X are celebrating for XRP's brand glow up from the 17 banks getting involved. But first, a nice over scope of the Bitcoin cycle here. Now, this is Bitcoin's four year cycle kind of mapped out from the bear season in the red, the pre-bowl here in the orange, the first bowl in the kind of lime green, and the second bowl in the weirder shade of green, kind of that blow off top area. I really want to highlight this, that we are in clearly a bear market. There is no denying that. And if things were to simply occur as we've seen in the past, honestly Bitcoin is following this general trend. I'll make sure this is muted so it doesn't get too weird on the sound. Let's check this out. We have a highlight from the moment that we hit that pre bear market low max capitulation wicks. Highlighted in the arrows. And then you get the pre bowl era where you start to reclaim kind of the center points of those pullbacks. Now I'll go back to the actual Bitcoin chart to show you what a lot of these analysts are looking at. And it's something that actually I feel a lot of confluence on and it's nice to see other people are seeing it too. Because over the past few months, I've kind of recognized that we are essentially at this yellow line on the Bitcoin for your cycle metric. We overlaid the two situations. I did the overlay yesterday, but just real quickly, I don't think I have it on here. I'll just do the bars pattern on here so you can see what I'm talking about. Because I think for your cycle is definitely still in control. And the summer doldrums to kind of like the pre-bowl glow up that Bitcoin has had from season to season. It's always formed by a bottoming scenario that looks something like this, where you hit that max capitulation, grind a little bit lower to get beat down just a bit more, and make everyone feel like they are truly dead before the glow up happens once again. Now we've had a major increase in market cap, obviously. So you overlay this to kind of the current scenario. And that absolutely leaves room for a vibe check down in the 50-quote 4K region. The main thing that you want to see is a reclaiming of this midterm shelf here. At about $90,000, these internal wicks. Once you can reclaim these internal wicks and really start to posture that you are actually building out of the lows of the original ETF shelf here at the 49-70K region, that's when the party time comes in. And honestly, that's when the viewership's gonna go nuts and everyone comes flocking back in. People love Bitcoin at $100,000, and they absolutely are terrified of it when it's now half price. But this is likely a scenario that I am seeing playing out on Bitcoin. And there's a lot of resilience that Bitcoin has shown over the course of the last few months. Honestly, a lot of people talked about us breaking into this scenario with Iran and all this geopolitical uncertainty that Bitcoin would cascade down to the $30,000 region. It hasn't happened yet, and it sounds a lot like the predictions that were happening in the last bear market where people were simply looking for a $3,000 Bitcoin. They were looking for these entry points at the lows of the COVID dip. Now, bullish divergence. Let's check in on that and see if those metrics are still signaling off for us. I'll take market cipher off and the money flow really quickly. I will pull up the RSI. RSI and weekly bullish divergence have been a very, very powerful signal. As you can see, I have the lower lows set up on the yellow line here for Bitcoin's price. But the bullish divergence is really nicely playing out right now. We have a nice bounce off of that higher low on the RSI, a very, very good sign for this bullish divergence to continue. And if we could just back up and actually look at what the signal ended up being in bear markets of the past, you had the situation very similar to this, where an extreme capitulation candle happens. People expect lower and lower and lower lows. They get kind of addicted to the fear. And then you see Bitcoin rally like a savage out of those scenarios. So do I think we're completely out of the woods? No, I can't absolutely prove that. I won't be able to prove that until we break these midterm wicks at about $90,000. But I can highlight that we have very, very strong confluence, a lot of buying pressure stepping in in this range. And you have to keep in mind this range was developed when the ETFs for Bitcoin were rolled out. Now, let's hop in to the big news. Let's hop in to the big stuff here. This is the big stuff rolling out around crypto right now. It's Swift. Swift rolling out a new blockchain ledger to bring 24-7 banking to 17 global giants. Now, the list of the banks is pretty extensive. I'll get into the list of the banks, but I want to go over what this actually means first. Now, God.