🚨WARNING: Bitcoin Rally OVER? (Global Sell-Off Just Began)

**SPEAKER_1** (0:00)
A global chip collapse, pulling back across the markets in Asia, causing an absolute bloodbath and cracking Bitcoin down into the 62K region. But I'm telling you right now, the bulls are stepping in there, fighting back. And right as we get to the finish line of the Clarity Act yesterday, Trump decides to softly announce a war with China. Super cool of him, the Commander in Chief, the KOL from hell himself, the orange one has done it again. He's outdone himself. So welcome to the show. We got a lot of information to cover on this episode. Welcome one, welcome all.
Markets are looking red, okay? Not gonna lie, the markets are looking red. This is the Chinese stock index with an absolute bloodbath happening overnight. Honestly, there is no escaping this when we hop into the crypto coin market cap. There is a good amount of large pullbacks happening right now. But as I said, the bulls are fighting back for Bitcoin. We're at $63,000 flat right now. Leveraged traders are not having fun this morning. The 10 a.m. rip and dip, and then dip again is just taking no prisoners right now. And actually, I want to hop over to the Bitcoin graph because things are getting frisky. Things are getting frisky. This is textbook, textbook stuff right at around 9 a.m. Big pullback about 1.5%, 1.3%.
And then just in the blink of an eye, ripping back to the upside, leaving no one longs or shorts in big money this morning as Wall Street chooses violence once again. And now, as I said, Bitcoin is trying to fight back from that $63,000 level. That's some bigger Bitcoin picture to look at later on the show. But really, the... Oh, yeah, crispy. Yeah, the 10 a.m. It'll get you. 10 a.m. will get you. And, you know, I did allude to this, and a lot of people don't want to acknowledge the, what they call conspiracy theory about market makers and Jane Street and all that. You know, you can PsyOp me once, shame on you. PsyOp me twice, shame on me. I shall not be PsyOpped anymore in this generation. I am a millennial. We've grown up through PsyOps. I know how to smell them out pretty easily at this point. But good morning. 10 a.m. gotcha. Mr. Crispy, UMC, Sack Nasty, up in the chat, Mike Bulmer. And I think I got a, Tony, what's up, my man? How you doing? I want to have a call with you about, you know, some of that proof of work analysis as well. Now, Bitcoin, it's not having fun, right? It's been real choppy, but it is defending itself from that $62,500 zone. The reason for this sell-off is quite a heady concept. Now, hop on over to it. This is the Chinese index. It's not looking great. A sea of red, and it doesn't stop there. Southeast Asia is having a hard time. 1.2 million retail traders received margin calls this week. This is 3.4% of the entire population of South Korea. Absolutely insane. The entire adult population of Korea, 3.4% of them were liquidated just over the course of the last few days here with this market uncertainty. Huge market crash is going on in the Asian markets right now. And this is not insulated. It's Japan, 350 billion erased or 51 trillion yen. China had 360 billion dollars or 2.6 trillion won erased from the markets. Hong Kong with 110 billion erased. Taiwan wiping out 140 billion. And Australia, about 10 billion. It's a little bit of a pullback on Australia. Not too bad. But really, these indexes are bleeding all over the place. And there's a key reason why. And it's not insulated to the US. NASDAQ 100 futures extended their losses this morning to over 2% as memory stocks fall sharply and the Iran war reignites, rather continues. Now, Bitcoin slipped 63K. The chip rut goes global. Bitcoin fell on Friday today, this morning. And happy Friday to everyone. First of all, I forgot to say this. Happy Friday. You've taken a breath of fresh air this morning. You're alive. You got blood in your veins. And you're back on the charts, baby. It's Friday. Let's go. Now, deepening sell off of chipmakers drag risk assets lower for coin desk data either ether held better at around 100, 100, 1,836 still up 2.4%. ETH is having a fight of its own. Largely, I would have expected a little bit bigger of a pullback on these alts. I still see pump funds up. DEXE is up, Quant is up. Quant has actually been fighting hard. And a lot of, you know, altcoins that I would have expected would have been beat down more. They're actually holding up pretty good. We actually might be getting a nice hyper liquid entry point developing right now as well with this pullback here. So hyper liquid on the weekly chart, going to the bottom end of this range. This is actually altcoin. We should definitely spend some time mapping out on the TA side for altcoins later on in the show. But the summer bummer is playing itself out. We're getting good entry points here. Hyper liquid led the losses at 8% on the day and 12% on the week. Question driving this one that has hung over the entire sector all month. Chipmakers are under scrutiny over whether the hundreds of billions of dollars that AI hyperscalers are spending will produce the actual returns that justify the valuations. Dow on semiconductors, we covered yesterday, they're dumping $100 billion into a new chip plant in Arizona. They had their results come out this week, and their results did not settle at this week. Soft inflation print gave that Bitcoin lift towards the $65,000 region, but was not that macro trade we're looking for. The chip sell off is pulling us down and underway. Currently, the Federal Reserve meeting is going to be happening July 28th and 29th. Can't wait for that, man. Ooh, Kevin Warsh has got a big job on his plate. I do not fault Kevin Warsh in the decisions he's going to have to make over the course of the next few months because the global economy is under pressure. Now, I must remind you as I go through the rest of these stories that Bitcoin was developed because the global economy has been under pressure. Really, the inception of Bitcoin, 2008, when the white paper was released, SHA-256 and the developments of peer-to-peer payments have been in development since the 1970s. But Bitcoin, its inception, 2008, great financial crisis, and we might be looking at a quickening of the great financial crisis. And we complain about the US dollar here, but the average fiat currency, it does have a basic lifespan of about 27 years. So the average fiat currency died inception here. The US dollar, we're not doing too bad. You could say that there's been changes to how the US dollar has been set up, obviously, with the gold reserve, with the 1971 Gold Act, Nixon, and his short little speech that pulled us off of that gold standard. But the pain is not just on the Bitcoin chart, you guys. It is also bleeding into China. This is the Chinese SSE Composite Index. Now, the pullback looks substantial. When you're kind of zoomed in on the weekly, you know, from local peak down to where it's at right now, about 11.5%.