HUGE! BITCOIN RALLIES AS TRUMP SIGNALS HE IS BULLISH ON CRYPTO! CLARITY ACT NEW DEADLINE & MAJOR ALTCOIN NEWS!

**Tony Edward** (0:05)
Hey folks, welcome in to The Thinking Crypto Podcast, your home for cryptocurrency news and interviews. I'm your host Tony Edward. On your way in, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please be sure to leave a five star rating and review. All right, folks, it was a roller coaster day for Bitcoin and the crypto market. In the morning, we got the news that Michael Saylor has sold, or I should say Strategy has sold a great amount of Bitcoin. In fact, it's about 3,588 Bitcoin. This was sold between June 29th and July 5th at an average price of $60,197.
So the market started turning bearish and dumping a bit. But then Trump came out and started talking about Bitcoin and how potentially we could see Bitcoin be put into the new Trump accounts. And I was literally talking about crypto going in Trump accounts in yesterday's podcast. I tweeted about it yesterday that this is a good thing overall, regardless of your political beliefs. And certainly over time, crypto could be added as crypto becomes part of an index fund or there's a dedicated index fund for crypto. So Trump says, look, there's a possibility, he says, he's open to it, that Bitcoin could be added. And as you can imagine, crypto as an asset class overall can be added. So Bitcoin rebounded and then it pumped to $64,000.
Right now, we're just below $64,000 at $63,897.
So on the daily chart, the RSI still has room to run. It's around the neutral zone. And the MACD shows the bulls are in full control because it recently flipped back to bullish. So that's very good. Now, how high are we going? That's the big question I know many people have. And I believe it's about $70,000. This is like another relief rally. Probably, we're going to get hit or reject off the 200-day moving average. And I hope not. I hope we can break through. And we'll have to see, is the bottom officially in? Because the bottom signals are there. You know, we've been following the bullish divergence on the weekly chart, which has appeared at every bear market bottom. But it doesn't mean the price can dip a bit lower before we find a true bottom and start reversing, right? In a bullish divergence, you have a descending price action, but an ascending RSI. I don't make the rules. This is just the textbook stuff, right? So this is on the weekly timeframe. And of course, the inverse of that is the USDT stablecoin dominance. That is forming a bearish divergence where you have an ascension of the dominance, and then a descension of the RSI. So the signals are there. We're very close, guys. You could argue we're at the top of the ninth inning, and maybe there's a little bit more to go, and then we hit the bottom, and then it's done, and we're in full reversal mode. But let's hope we get surprised that the bottom is in, and we continue to rally. And a great sign is that strategy, despite selling a significant amount of Bitcoin, the buyers stepped in. So that's a very good sign. The market absorbed that shock really well. Now, the other factor I have to share, it's a bit silly, but it does hold true because inverse Kramer. Jim Kramer is turning bullish on Nvidia.
That's a kiss of death. You all know that. Inverse Kramer, right? So he tweeted out, Nvidia says its roadmap is intact. That to me means buy.
Ouch. You know what's about to come. I tweeted out, the AI bubble is about to deflate. Rotation of capital back into crypto. Now, is this guaranteed? Of course not. But there's a strong probability that this is a signal, right? The AI is going to start to lose some of its momentum because remember markets, regardless of the asset class, does not go up in a straight line. Markets correct and are cyclical. So you're going to see rotation of capital in my opinion. We also continue to see a lot of other folks are buying the dip for Bitcoin and other altcoins like digital asset treasury companies. So despite Michael Saylor's strategy selling, you have others that are buying. So public company Strive purchases 17.76 Bitcoin for over $1 million.
You got Bitmine, Tom Lee's Bitmine. They bought another $74 million in Ethereum. And Tom Lee is anticipating a boost from the Clarity Act. So we're going to talk a bit about that soon. But as mentioned earlier, Trump came out today, said, I'm a big fan of crypto and Bitcoin could be added to the new Trump accounts. But we also got an update from the White House regarding the Bitcoin Reserve. It says here, Bitcoin's US Reserve still a work in progress as federal agencies hash it out. The White House says it's still evaluating the best structure for the federal fund to hold Bitcoin as a long-term reserve and a separate stockpile for other crypto assets.