🚨MASSIVE Senate Vote THIS WEEK (Did Biden Just SAVE Crypto?)

**SPEAKER_1** (0:00)
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**SPEAKER_2** (0:03)
All right, let's see if I'm live on this. We did a hot swap from the Discover Crypto show. And let's see if we are live here. If you can hear my signal, put a 1 in the chat. Good morning, 1 Good morning, all. Let's get into the charts. Let's get into the action. I am seeing some nice expected signals on the Bitcoin money flow. And there has been a lot of back and forth on if the peace deal, the peace negotiations with Iran and the United States are real. So we're going to be talking about that and the potential that Hunter Biden might be coming out of left field to save crypto. Can he do it? We're going to take a look at this. It's a really crazy time in life. And first, I'm going to talk about the money flow on Bitcoin. Got a lot of cultural things to address. Think about Spencer Pratt's play in Los Angeles. You know, LA, it's not going to work.
It's probably going to be business as usual for LA. You know, it's, I think it's a lost state in terms of, I am starting to get maybe the inclination that I should become more politically active.
Yeah. When Hunter Biden comes out, though, we thought Donald J. Trump was a crazy crypto KOL. You can't see nothing yet. I bet Hunter Biden, and he's got plenty of content to do it with. So here's Bitcoin's price. Let's talk about the Bitcoin price first and foremost, and then we'll get into the rest of the action here. So this is the general washout from last week's Red Candle. Very viciously lost this channel support and tapped the lower liquidity range at around $59,500. It peaked down there. We've seen a pretty aggressive balance up as of this morning with the outlooks and the conversation of peace from Trump. It's pumped by about 8.2% from that zone, but we have to draw the line in the sand and really highlight exactly where all that price defense truly sits for Bitcoin. Basically, where we're down to about $54,000 flat. To lose $54,000, there's very thin liquidity and a fast ride down into the mid $40,000 region. So I know that the idea of lower prices on Bitcoin scares some. For me, it makes me sigh in relief.
I get to buy cheap Bitcoin again. That's great. So these are kind of the stair steps I'm watching in our current bear market. I've been through a couple bear markets, was in content and actually covering crypto publicly during this entire bear market here. And this kind of funny reminder for anyone that's new to this channel, the Blockchain Basement was actually founded in this zone right here, where people were just guaranteeing we were going to 10K. We did not. Instead, called the bottom, bought it, and had a lot of fun in the last bull market. But now we've taken a major step back and have dumped from high to low. Let's measure out the new measurement here, about 53% from 126K.
So let's take into account, maybe it is a huge head and shoulders. Let's just do some more game in here. Huge head and shoulders. And you really got to measure from this zone up to about the guts of these bodies of those. Lord love a duck that takes you right to this spot. Takes you right to the spot. And this is the thing, if we're watching for consistent play outs of these bear flags, there does come a point where they stop playing out. And this is shown in the last bear market. You had essentially a rising channel. Let's see if I can do this live here. So you have this channel. We lose the channel support. You're measuring. You're doing your general TA. And you want to pull the previous flag, the kind of this old range that we lost.
So you're looking for more lows. You're looking for more lows. And you don't quite get the full play out when the bear market has fully played itself out. Crypto Fear and Greed is sitting at an 8 right now. So there is a lot of fear on the market. And the general crypto vibe isn't that bad. So CoinMarketCap has a different metric. They're showing it's a 16, but I actually would reckon it's a little bit deeper than that right now. The main thing is Bitcoin's price has already played out in kind of the four-year cycle pattern. And there is room for this thing to keep dumping, right? There is room, and it's not outside of the realm of possibility for us to fall to 45K or maybe even crank slow 40 Mark. But the general vibe is that this is just a complete playout of the four-year cycle. The only major difference from the last metric that we're working with here is we hit this all-time high ahead of schedule, right? So it's not too bearish of an outlook. And there's a lot of people that are questioning their sanity right now. That's why we're going to cover all the news and everything going on in the world to just make it that much crazier. So the macro key events to watch this week on June 10th, the CPI data for the United States for May is due. They're estimating that is 4.2% year over year versus the previous 3.8%. So CPI inflation expected to be higher. We have the European Central Bank interest rate decision coming. The estimates are coming in at 2.25% versus the previous 2% flat mark. Now, this interest rate hike expectation out of the European Central Bank probably playing into the fears in the macroeconomic and the S&P 500 But also, we have some good stuff coming down the pike with the Clarity Act continuing to the Senate floor debate. Now, the good part about this is pumping my base ecosystem pit bags, right? The bad part about this is that there's likely going to be some concessions given from the DeFi industry to be able to be let into the door of the American finance industry. If you let DeFi out onto the floor to compete directly with banks as it is right now, you're going to be offering a much higher yield in crypto than banks can currently offer. Banks don't like that, and there's probably going to be a big battle between that going on behind the scenes. Cynthia Loomis is giving me the vibes that there is a fight going on, and the Clarity Act passed committee. Now the floor, the Senate floor is next. She says, we did not come this far to quit at the five-yard line. So meaning we are not going to quit pushing this through regardless of whatever concessions the banks want us to give in the DeFi sector. There's a lot of companies in crypto that are rallying behind what crypto is as of right now. Stand with crypto and more than 200 companies and organizations signed a letter urging the Senate leaders to bring the Clarity Act to the Senate floor. So a lot of push to get this moved through.