PAY ATTENTION: Bitcoin Headed Lower? Banks Signal A Bigger Shift!

**Scott Melker** (0:01)
Bitcoin may be shaky right now, but the bigger story is what's happening underneath the surface. Today, we're talking about France's first on-chain IPO, the IMF, openly mapping out the future of digital money, Coinbase moving closer to becoming a trust bank, and why oil, inflation pressure, job numbers, and private market stress could matter a lot more than people think. We're about to get into it for the Friday Freestyle. It's me, Solo. This is just a preview of what I'm going to look like on Yahoo Finance every single day with what will, of course, be the largest crypto show on mainstream media. Let's go.
What is up, everybody? Happy Friday! Please give that little like button a tap and subscribe to this amazing channel because, frankly, it's the best. And that's not my words. I actually just happened to see that we had like one comment today and it's, this is the best crypto channel. And so I'm not spreading fake news or FUD. There is at least one person out there in this world who believes that that is the case. So before we get started talking about all the nonsense that is in the news today on this beautiful Friday, April 3rd, I have a very special announcement right here. I will be participating in an incredible webinar on April 9th at 4 p.m., which is FREE Free, with my good friends at Abra. I'm actually interviewing Bill Barheit, the CEO of Abra once again, in a couple hours today. That will be out on Sunday. But they're doing this webinar, which I will actually be participating in myself with Bill and Managing Director Marissa Kim. Crypto portfolio strategies and investing for the fourth turning. This is purposely and accurately ominous for many who believe that that is what's coming. But this is everything you need to know about custody, leverage and portfolio positioning. Obviously, as I've told you many, many times, I am a customer of Abra. They've helped me endlessly over the past few months and years with things as challenging as getting mortgages and it's hard to even tell you how amazing they've been and how excited I am to participate in this and be there. So I I've encouraged you to go down in to the description. It's right down there below. I mean, you can do it. It's not hard and sign up and you can come talk to me on Zoom next week. That's at 4 p.m. on April 9th. That's Eastern Standard Time. So I guess we can start today by taking a very quick look at the market. I mean, there is just nothing doing in this market right now. What do we got? Bitcoin here, $66,682. We were excited yesterday when it broke above $68,000. That was a good day. We were depressed hours before that when it broke down into the $65,000. But I think the reality here is that when you take a look at the Bitcoin market, we are largely doing nothing. All coins are highly correlated in their nothingness. And no surprises there. I don't think we're going to jump right here into the Bitcoin chart. As you can see, I think it's worth at this point, just zooming out on the weekly to see what's happening. There's a line. It's at $74,000. You're either above it or you're below it. You're either with us or you're against us. Right now, it's against us because we got up there and we played just the tip with that line a couple of weeks ago and we just stuck it right. But just the pinky, we couldn't get the whole candle all the way up into there. I'm going to get so fired from Yahoo. I'm not going to do charts there. I just decided it. We're not going to do that. So anyways, you can see, though, still trading above the $200 MA here on the weekly. That is a line that has been visited in every single Bitcoin bear market. And if you don't think that we're in a Bitcoin bear market right now, you're kind of coping. I mean, we have had these long drawdowns in the middle of a quote unquote bull market before, but this has been pretty ugly. And the macro around it's not great. If I had to tell you what I think is going to happen, probably this. And call me in six months. I think maybe it'll be more volatile than that. Like maybe, hey, well, oh, yeah, we break it out. And then, oh, my God, we broke down. And then it'll do this. And then, as you know, it always does this.
My favorite chart pattern, okay. Anyways, that's my favorite chart pattern. And I think that that's probably what Bitcoin price is going to do. For now, though, I think we can largely expect it to stay sideways. We do have some breaking news today in the economy, which I always find interesting. We have the US economy adds 178,000 jobs in March, crushing expectations of 65,000. The unemployment rate fell to 4.3 percent below expectations of 4.4 percent, marking the biggest monthly job addition since March 2025 That's a year ago. Much stronger than expected job report amid the Iran War. So there's a few ways to parse this. First of all, good jobs usually means bad for market because we live in the upside down. And if people are getting jobs, it's apparently really bad for stocks because it means the Fed is even less likely to cut. And if you take a look now at the Fed dot plot, you know that people aren't really even pricing in these cuts anymore for this year. Some people think we might get one or two very small cuts. But right now with the war and still tariff uncertainty, there's still tariff uncertainty here. You know, a year after we had the shock last year in April. And we just don't know how to parse all this data, which we'll add to a lot of the data later. But more importantly, if you guys remember, every single year or we get a massive revision down in all of the job numbers that we saw for the entire year before, it was like 800,000 years ago, over a million jobs this year. So we look at these job reports, we get really excited and oh my god, it's so bullish, people have jobs. And then while you're not looking, they rug pull you and change the job numbers entirely. And markets have been reacting the whole time to all of this basically fake news about jobs. And you can say that that's either a political tool, I doubt it. I think we're just really bad at data. So when I take a look at my sourcing for job numbers, this is where it is. I made it up. That's the source for government data right now. And you might remember that we also just stopped doing government data for a while last fall when we had the government shut down. And then even when the government started back up, the administration was like, we're not really going to give you the numbers anymore. Right. And so I think when you take a look at all of this, you just have to assume that this is just noise, all these job numbers next month, it'll be way down. There'll be a revision you don't see, or the numbers will go up and nobody's going to really care. I think right now, all of these kinds of data are somewhat meaningless until we get some resolution of the operation that we're having in Iran. Meanwhile, do you guys remember Bitcoin Treasury companies? I remember. You might remember that one year ago, right around this time, I went to the Bitcoin Conference in Las Vegas, and within five minutes of walking in, I was pitched about 17 of these things. And I was the least popular person in the Bitcoin world, when I very openly for the next six months said, these are a really bad idea. You can not financially engineer a balance sheet, unless your name is Michael Saylor, to beat Bitcoin using Bitcoin. Now, maybe you can beat Solana using Solana by staking, or beat Ethereum using Ethereum by using staking. Whether those are viable Treasury assets is up to you to decide. I think Bitcoin is a great Treasury asset, but only if you are going to take cash flow from your business and use it to buy Bitcoin. The same way you would tell an individual to hedge against their cash position, or against inflation, or against monetary debasement, you can choose your catchphrase. But I think you should take a bunch of your money and put some of it into Bitcoin and save it for a really long time. And that's how Bitcoin Treasury companies should do. But instead, Bitcoin Treasury acted like completely redacted momos and yoloed into literally anything they could find at the dead top of the market. Like I have nothing against any of them. But like if Bitcoin was $120,000 and someone gives you a billion bucks, I don't know, use ArchPublic and DollarCostAverage. Instead they all bought everything and didn't even save any money with no plan how to even make more money for when Bitcoin was 50% discounted from the price that they bought it at. And what are they doing now? You might have noticed it kind of passed in the news very quietly, Nakamoto, of which I am still a small shareholder very proudly, to talk about redacted Momo, this guy, I bought that. I was like, we're at a buck, dude. It's under the price that the investors paid. It's got to be good. I can't even imagine where it's trading now, 14 cents, 25 cents. I have no idea. I haven't even checked. But they sold Bitcoin at these prices. And that's what happens when you go all in at the top and you don't have a plan and you have a business to run, you end up selling some marathon, famously. Followed in the Michael Saylor footsteps by raising convertible notes to buy a whole lot more Bitcoin and become a Bitcoin treasury company and sold off like 30% of their stack last week. A lot of that has to do obviously with funding operations, converting to AI. We know that no Bitcoin miner wants to just be a Bitcoin miner anymore. They all want to be AI data centers or whatever the catchphrase is that we're using now. But the reality is that we had yet another stupidity bubble in Bitcoin that absolutely wrecked retail, pissed people off and made us look like idiots. It's awesome. Thank you, Bitcoin treasury companies. You've done great. You're all really performing very well. That said, maybe there's an opportunity to buy some of these at a discount. I would love to see Sailor just like vacuum these up with all that money. He has sweet, sweet dollars he's making on STRC. But I don't think that's their plan or the reality. But yeah, we're going to see if this continues to go for six months, we're going to see a hell of a lot of small sales, at least from these Bitcoin treasury companies. This says even government sovereign holders liquidating to shore up balance sheets. But the good news is these are bottom signals and not top signals. But this is really cool. Europe's first blockchain IPO is here. France's new exchange is taking aerospace firm public on chain. This is what I would love to see in the United States, to be quite honest. So what we have here is a French exchange taking an aerospace company public fully on chain. These shares can be issued, traded and settled with blockchain rails. So this is tokenized equity that's moving from concept to live capital markets. Obviously, we have IPOs and direct listings in the United States. That's the way that most companies get public. And then we've had ICOs and private sales and all the things that largely United States investors could not participate in because Gary Gensler hates you and so does Joe Biden. And they wouldn't let us do anything fun. Maybe they did protect us because what a shit show all those were loved Gary Gensler. I feel protected. Anyways, this is what we actually want, right? Regulated companies being able to raise and go public, but using blockchain rails and issuing tokenized equity that way. So this isn't like they're launching a token. Maybe we will be able to get tokens someday. This is actually shares that are tokenized using our technology to do this in a much better way. And I'm here for it. I think that this is really exciting. And it's showing us a glimpse of the future. Once again, does that help you as retail? Probably not. It's not like this is going to make your chain link position go up. It's probably bullish for XRP if you ask the XRP Army in some way. I don't know. But otherwise, yeah, tokenization is the future. I mean, you got the IMF here, who by the way is like the evil empire, Darth Vader times 12 But hey, let's cheer for them because they said crypto. Tokenization is reshaping regulated finance by moving assets onto programmable ledgers, delivering efficiency gains, but requiring strong policy and trust anchors to protect stability. That's the part that you should actually be reading. The first part is like they stated the obvious by using an AI, and then they wrote their own little part, which is like we need to regulate and control this on the back end. But read our new IMF note on the issue. So, important to remember that the IMF only exists to be predators and to enslave countries and raise debt and put money into the pockets of private bankers. That's what they do. Read The Creature from Jekyll Island, which is a little hyperbolic, or literally any book. Read The Shock Doctrine by Naomi Klein, one of the best books of all time that shows the IMF playbook. If you don't know it in general, here's the TLDR. The United States invades somewhere. I'm not saying that that could be happening now. But the IMF, the United States government decides that a place like Argentina or, we've done it all over the world, Iraq, Afghanistan, is ripe for regime change. We go in, we do a coup with the CIA really quietly, or we just go to a wholesale war. And then after that, the country needs to be rebuilt, right? And they're poor, and they're not having fun staying poor like crypto people. So you have to go in and give them a bunch of loans. And the World Bank and the IMF, which are run by globalists and private banks, come in, they give them a big predatory loan that can never be paid back. And those governments have to keep paying interest. And when the loan is up and they obviously can't pay it back, what do you do? You print more money and you give them another loan. And then the bankers get more interest on those. And then you've, just like in our system, where a dollar goes into fractional reserve banking and becomes $10, you have these loans, it's a million dollars, it's a billion dollars, it becomes $10 billion, it becomes $100 billion. All the while, the IMF and their banker friends are collecting money. But yes, they're going to be doing all of that corruption and insanity that keeps you poor through the hidden tax and inflation on blockchain rails.