HUGE! CLARITY ACT GETS LAW ENFORCEMENT BACKING! SECURITIZE GOES PUBLIC WITH TOKENIZED STOCK!

**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. Folks, let's start with the price of Bitcoin, because today we saw a little bit of an uptake up to $62,000.
The RSI on the daily chart is moving away from the oversold zone. The MACD on the daily chart has also flipped green, showing the bulls have momentum. However, as I've been telling you guys, we're not entirely out of the woods yet, despite some bullish signals that we're seeing, the strongest being the bullish divergence on the Bitcoin weekly chart and the bearish divergence on the USDT stablecoin dominance chart. So the inverse is happening there, which is very good. These are signals we've seen at the bottom of markets. However, even if you have a bullish divergence, it doesn't mean the price can go a bit lower. So we have to be cautious here before we can 100% say the bottom is in. Obviously, we don't have a crystal ball and Bitcoin may have bottomed at 58K, or there's another flush down before we start to reverse. Now, in the meantime, there could still be a relief rally, maybe up to $70,000, then I roll over to lower lows. So these are scenarios you have to be mentally prepared for. These are things I'm looking at and monitoring closely, but I am accumulating because as I've been telling you guys, we are in the bottom zone, regardless of if it's in or there's more to go. But I believe the majority of the downside is in and I'm accumulating different altcoins like XRP and much more. In fact, I did an episode today with Brian from Santiment that's going to be published tomorrow morning, and it shows XRP has the lowest MVRV between Bitcoin, Ethereum and other large cap coins. So that is a signal that a strong relief rally may be due soon and you could swing trade that or you could just continue to add to your long-term whole bag. It just depends on what you want to do. But I like what I'm seeing here. We just have to give the market more time to give confirmation as to is the bottom fully in or is there one more flush down? And then we start a reversal into the bull market. Now, folks, we got a big update around the Clarity Act. We know this month the Clarity Act is going to make its way to the Senate for votes. There's still a lot of dialogue happening. And here Eleanor Territt is reporting, The National Organization of Black Law Enforcement Executives, known as NOBLE, has endorsed the Clarity Act, becoming the first major law enforcement organization to publicly support the legislation, which includes the Blockchain Regulatory Certainty Act. In a letter to Senate leaders, NOBLE says the bill contains several provisions that would provide law enforcement with meaningful new capabilities while preserving long-standing criminal enforcement authorities. Responding to concerns raised by other law enforcement groups, NOBLE adds that the legislation does not alter the long-standing federal criminal authorities that investigators and prosecutors rely upon every day, including statutes governing money laundering and unlicensed money transmitting businesses. So this is huge, guys. You have the endorsement of one of the law enforcement organizations. Now recently, I highlighted that another organization, I believe the Sheriff's Organization, they were pushing back on the bill, and I mentioned that I believe the banks are backing that organization because you got Jamie Dimon and the banks, and many Democrats like Elizabeth Warren and Maxine Waters are trying to roadblock this bill, and they're gonna pull all the strings to try to get anybody to block this bill.
So to have a law enforcement agency come out and endorse the bill is amazing and very good, guys. So we want to see more of this because this will help push the bill and increase the chances for it to be passed in the Senate. And time is running out. This is it, the homestretch, because remember, Congress is gonna go into the August recess. So we gotta get this thing done. And once it passes the Senate, it has to go to the House to be voted on. I don't believe there's gonna be any issues in the House because remember, the House passed the FIT 21, a version of the Clarity Act last year. And there's some updates, obviously, that the Senate has made, but they're not significant. We're just gonna be issued. So I think it's gonna make its way through the House, and then it's gonna go to President Trump to be signed into law, which will be huge for the crypto market, guys. A lot of innovation will be unlocked, a lot of capital will come into the market, and it will be just in time for the next bull market to start. So this is awesome news that we've gotten here. And here Bloomberg Intelligence thinks there is a 60% chance that the Clarity Act passes this month.