URGENT! IT'S MAKE OR BREAK FOR CLARITY ACT THIS WEEK! HUGE PENSION INVESTS IN CRYPTO!

**Tony Edward** (0:05)
Hey everyone, welcome into 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 follow and leave a five star rating. To all the dads watching and listening, thank you so much for tuning in and happy Father's Day to you. Hope you had a great day. All right guys, let's kick it off with the price of Bitcoin and what's happening in the markets. Many of you know the Iran war situation has escalated once again. It's like groundshog day, right? Over and over.
But Bitcoin right now is still struggling a bit, sitting at $64,000 and we are seeing some bullish activity, but that could easily get rejected and we start dumping to lower prices. So this is where we're gonna have to be patient and let the market do its thing because when you have a macro factor like a war, that can certainly weigh on markets.
But on the daily chart, the bulls are still in control. The RSI is still moving away from the oversold zone and has an upward trajectory. Obviously, we're gonna have to let this play out and see what happens in the coming weeks. Now, in the weekly chart, many of you know I'm bullish because I see a bullish divergence forming here. And yes, it may take time for this to play out. Yes, a bullish divergence when it's forming means the price is still on its way down a bit and then it bounces. I know it seems contradictory, but this is the data. This is how it works. So I like what I'm seeing here. And again, patience is the key word here.
This could take another month to play out, right? Obviously, I'm hoping it doesn't. I'm hoping Bitcoin maybe retests, let's say, 60K or maybe goes untouched, 58K, the low it hit in February or a little bit below that. And then we find that bottom when we start moving.
The stock market, not looking too great, showing some weakness here. You know, on the daily chart, the S&P 500 bears are in control. And it looks like it wants to come back down and test some lows here. Now, it could be a shallow move downward or it could be a deep one. So this is, again, patience. I'm just sharing with you what I'm seeing and I'm personally in a holding pattern. Don't get me wrong, I've been buying the dips because I believe we're in the bottom zone for crypto. But I also like to look at the stock market because I believe the crypto market makers follow this pattern. That's why you see a lot of the correlation because the stock market has a broader network effect of investors. And if the overall sentiment and the headlines out there in the mainstream media, they're bearish and they see the price going down, there's macro factors like the Iran War, crypto is not going to just by itself pump.
That's why we have this correlation. So I believe the market makers in crypto, they do follow what's happening in the stock market as far as sentiment, momentum, and all these things. Here's what Capo of crypto had to say.
Potential last retest of 60 to 62K, but this looks like a clear local bottom formation across the entire crypto market. So we shall see. Different analysts have different takes. All right, moving ahead.
Michael Saylor is about to become the first man in history to watch his stock go down 99 percent twice. So a little bit of hyperbole here because the user posted on X that MSTR went down 99 percent in the.com bubble burst in the year 2000, of course, or 2001, around that time. And right now, the MSTR stock is down 80.61 percent. So not far off 99 percent. So will this come to pass? We shall see.
Saylor is playing a dangerous game, but the amount of leverage he has in place. Many of you know how I feel about it.
I believe Bitcoin can be a great Treasury Reserve asset like SpaceX did. They took some of their cash reserves, bought some Bitcoin, and that's it. No major risk. They didn't raise obscene amounts of debt. They're not paying out yield and having to sell Bitcoin and do all kinds of crazy stuff that's Ponzi-like. So this is where I'm very concerned about what Saylor is doing. I hope it doesn't blow up because that could be really bad for the market, but let's see what happens. Hopefully, you can make it through here.