The 5 reasons Bitcoin is about to EXPLODE!!! [PREPARE NOW] | EP 1578

**Opti** (0:02)
Bitcoin might have ripped 30% off the lows, but many people are still convinced we are going lower. Well, today, we're going to be looking at five reasons that I think the Bitcoin bear market could be over, and we might be about to see a huge rally. The main one I have been covering, the ETFs, of course, led by BlackRock, have bought over $2 billion last week, causing the massive short squeeze that we saw.
And they've seen the biggest inflow day this year, which is showing us there is spot demand building, which is one thing I've been telling you guys for a while. Until we see the spot demand, we might not be seeing much of a move. Looks like that might be on the table. But before I take a deeper look at the five reasons, let's start with this clip from Mike Selig of VanEck. I think it's a good context starter.

**Mike Selig** (0:57)
Microstrategy, Sailor finally selling Bitcoin at what looks like the bottom, looks like to be a great newspaper headline bottom, which goes along with our 12 out of 12 quantitative signals. But Newsflash, a lot of the leverage in the system has been brought onto regulated rails. So whether it's Microstrategy or CME Futures, most of the leverage in the space is now visible. And in the last cycle when FTX and Celsius and Three Arrows, they all went bankrupt, that leverage was not visible. So I think it's a lot better right now.

**Opti** (1:41)
OK, so Mike Selleck-Vanek, am I misremembering his name? Anyways, he said something right there, which I was telling you guys yesterday that this could be a possibility of something I'm seeing. It looks like the price did almost exactly that. I'm not saying I'm necessarily, excuse me guys, necessarily right about it. But what we did see, which was super interesting, was of course, as we saw last week, the massive short squeeze. One of the biggest short squeezes we've ever seen in the Bitcoin space, swiping all the shorts at the bottom. Then we get into about the 80, 81k range. And if you're looking at the chart, if you are chart-boying out there, there is a massive wick yesterday, which it's kind of making the case that we might have seen the long swept. So they're grabbing liquidity on both sides, which as Vanek, the founder of Vanek just said, is we're seeing all the leverage be wiped out. And that is one of the telltale signs that we are starting to or about to make a move to the upside. You clear the leverage on the bottom, you clear the leverage on the top, you basically take everyone's money. So all the leverage is gone, and then you start ripping it. So tentatively feeling pretty good, even though the price is kind of going down. I did see, all right, rather, I was watching about a four hour trend line, or you could call it a daily trend line. Right now, it's not holding up so hot, but there's still a little bit of time left on the day. Anyways, let's get into this. So, Glassnow dropped this this morning, which is very interesting. Goes, after large market moves, setting objective and level headed is difficult. Obviously, it's something I know I'm not very good at. This is why I try to look at the on-chain metrics. I try to look at the data. Obviously, I get excited. I'm charismatic. I'm loud and obnoxious. But guys, it really feels like the bottom is already in, and everyone's saying the opposite. Everyone's still waiting for October. But anyways, it goes, on our latest weekly report walks you through the data. The liquidation cascade, who bought the squeeze, and the supply now sitting overhead. So I'm going to pop over here, and I will read a little bit of this. So, executive summary. A record single day short flush ignited the rally. That's what we saw last week. That's why we saw Bitcoin go from 62 to about 77, which then burned through the liquidation clusters stacked across its path, which, as I've been saying, we have about two clusters right now. We have one on the low end at about 60 to 62K, and on the high end, depending on what numbers we're really looking at, is somewhere between 80 and 83, though we see here that Glassnode is kind of having them sit around 81 and 86K. Anyways, the move of last week was funded. It was by spot demand with $2.23 billion of ETF creations over the squeeze window, coins leaving exchanges, and every wallet cohort accumulating at once. So there's an interesting breakdown here. One, obviously, the big move was driven because of the ETF, because we saw $2.23 billion of inflows going into the Bitcoin ETFs. Again, majority driven by BlackRock. I believe the numbers were about 80% of the ETFs that were bought last week came from BlackRock. So Larry Fink might be employee of the month again. Hey, big Bitcoin is in control. It's okay. All right. No, no, no. I might actually touch on that in a little bit.