Hello everybody, welcome back for another video. Hope you're all doing well, hope you're all doing fantastic, and that you're all having a great day. You know, one of those just like, just woke up days. So if it takes me a while to get the engine revving, you know, um, stretching. There's a really weird sentiment flowing through the cryptocurrency space. I think we've seen some of it over the course of the last couple of months, uh, but for some reason, it's like forming into another entity. Um, there's been a lot of annoyance, as you might have definitely noticed over the course of the last couple of months because of where the entire Market assumed it was going to go, i.e., after the Bitcoin ETFs. We saw the price moving up, we saw this like logical, you know, the whatever having without having to go completely into it because you've heard this 87,000 times, um, as the market didn't move for three months, everyone became quite agitated. And I think it always was even more, uh, exacerbated by if you, if you, if

you hang out on Twitter quite often. There were a large number of analysts who were constantly mentioning, like this is the week, this is the week, this is the week prices are going to move, this is the week, over and over and over. And I think it also even exceeded expectations as far as even if we hadn't heard from any analysts saying where prices were going to go, just based off of simple logic and the levels of accumulation that we were seeing, even from the ETFs. And when the ETFs had outflows on certain days, there were still news stories that I showed you every day of one wallet who, when there was a $47 million outflow from the ETFs, this one wallet bought $347 million worth of bitcoin. There was one day, I believe, there was like $150 million worth of outflows from the ETF. There were a couple of whale wallets that bought over $800 million. So the logical assumption is that the price would move up. I've also made sure to

show you over the course of the last couple of weeks, I find it the word isn't funny, but I think it's interesting when people kind of look for logic where there isn't any, where there should be. We all logically know bitcoin's price should be a lot higher, but everyone has a technical analysis line chart and all these other things, um, that I've once again shown you over the last couple of days. And the most recent one was the rainbow chart, which I think actually even makes the most sense 'cause at least that one was color-coded and showed us like the level of where the price is comparative to like the actual feeling within the market. So now that we've gotten to the re Bitcoin ETF hype and the re-again ethereum ETF hype and where prices are going to go and based off of any type of price bounce, we're in this like weird tug of war where people online are still confused as to why anyone might be disillusioned, is disenfranchised.

word or is am I just making that up but you understand what I'm saying uh someone named Quinn Thompson Chief Investment Officer at Leer Capital articulated a strong Buy Signal for cryptocurrencies amidst a landscape fraught with bearish sentiment. In a statement released through the social media platform Twitter, Thompson described the present market conditions as one of the most obvious and attractive crypto buying opportunities of recent memory. If you look at it from a price perspective, especially if you look at any of the charts and the ranges that we've been trading within, and I mean if you look at it from a logical technical standpoint as far as like bitcoin's technicals, Bitcoin and the wider cryptocurrency market are, in my opinion, in my vantage point, very undervalued. But I say that as someone who goes through the data, who looks through everything. I'm not simply like a hype meme coin kind of person. I go through the actual fundamentals of any chain. I was recently chatting, like yesterday, with a friend, and we were talking about the actual

movements of the coins, or the lack of movements of the coin. How we've seen Bitcoin fare relatively well, you know, even if there is a dip, we still are doing better than we were doing just about a year ago. I think when we had news recently that Bitcoin was around $17,000 per coin, and we were discussing the actual movements of the altcoins and where they could go. He's not a major altcoin investor, I think I am more so than him, but we were discussing the actual movements and like the actual if there are buying opportunities. What we came to the conclusion, that we came to, was basically a resounding yes as the altcoins are nowhere even remotely near their previous all-time highs. He tends to be more conservative in his pricing of things and as to when he expects to take profit. I.E. if you see that a coin is now 48 cents when its previous all-time high was $2.80 or $3.10, what have you, his numbers tend to be well.

I think the coin will go to $5 or $6, what have you. And as we don't see these numbers anywhere near, this is what I think. Also, a huge level of anticipation is revolving around. A lot more people are into altcoins than most people think. I assumed for a very long time if 99% of the news is just about Bitcoin, you would assume that 99% of the market was into Bitcoin. No, a large portion of the market is really into altcoins. And this is what I think the other mindset currently is revolving around Ethereum. If you have the Ethereum ETFs and Ethereum begins to pump in price like I told you before, historically as Ethereum moves up, the other altcoins tend to do the same. If Ethereum, you know, continues to pump and hits these brand new crazy all-time highs, the altcoins will do the same. And I do believe personally that that would relieve a lot of the tension and pressure that we currently have, like mentally on the market. Once again.

because I think a lot of people who tend into or are Bitcoin maximalist. I've seen a lot of the charts and I think people are, once again, I think a lot of the larger investors. This is from my vantage point, what I've seen online. I think a lot of larger investors tend to be quite heavy on bitcoin. If Bitcoin went from 13,000 177,000 to 74,000, and you know is is lulling or lulled around 58,000 to 64,000, these people are still in profit. The people who invested heavily in altcoins have not seen that kind of movement. Of course, there are some altcoins that have done a a two or 3x, but they're nowhere near their previous all-time high. So when you go around, part of what this guy is talking about and the actual sentiment online is when you look around, people are quite frustrated. And it's because the majority of people have invested nearly entirely in altcoins. So the altcoins aren't moving. If Ethereum is not moving, moving like

people think it's going to this is the only conclusion that I've come up with because the actual movements for Bitcoin aren't terrible. They're quite frustrating because you expect and believe that Bitcoin should be a lot higher in price. But when you look at it from the perspective of the altcoins, many of them fell. Many of them fell between 95 to 99% in value since the last Bull Run. Many of them are still 80% away from their all-time highs. So when a lot of these people say stuff, I get it now. They're talking about like, why are people so annoyed by the movements in the market? Everything looks great. It's because these people tend to be focusing just on bitcoin charts. Leer Capital, which has carved a niche in trading cryptocurrencies based on macroeconomic cues, provides an analysis that contrasts sharply with the prevailing Market mood. Thompson's commentary comes at a time when the broader crypto Market in community appears enmeshed in pessimism. I don't

think you have to understand so this is I'm going to talk quite Frank here um me and same friend from yesterday um he's have anyway he he's one of my closest friends and we kind of talk about everything we talk about life we talk about things that are going on and there's this like heavy sense of agree or disagree tell me how you feel since 2020 and I'll even give you a mid 2020 there's like a heavy like something in the air I can't figure out what it is it's constant on a on a bright sunny day it's still there in the air it it's it's there for me it's still there for my friends it's it's some kind of a weird feeling that we all have and I think for in many cases especially if you want to again you once again want to talk realistically I know a lot of people over the last couple of years who work for tech companies or it or Consulting what have you and I mean 80% of them

have been let off. They've lost their jobs, and it's like this collective really. I can't put a word to it, but it feels, at least within the cryptocurrency space. I know a lot of people are waiting for the market to move, like literally. Like this is the, I think this is the euphoric moment that people are, that they need and that they've been waiting for, and the anticipation of that. It should have already happened and has not taken place is, I think, what has hold on the wider cryptocurrency market. I think people need the relief of seeing because we've seen it before. We've seen after having Bitcoin's price completely pumps. It usually takes a couple of weeks. This is why we had news before. They're like, this is the longest consolidation that we've ever been in for those of you who missed that news day. So it's this. I think it's this feeling people may not want to admit to it and whatever the case might be, but I think people need that release.

I think people need that super euphoric moment in the cryptocurrency market to see that they're making money, they take profits, they can do what they want in their life. This is what I think it is, and I don't see anyone talking about it because I honestly don't assume if we can be honest here. Listen, that a bunch of grown men on Twitter are going to talk about their feelings or exactly like what they need. So it's kind of this like Pump It, Pump It, Pump It kind of thing over and over. But this is what I think it is 'cause I have a lot of friends, like I told you, who invested in markets, who lost their jobs, and they look at the stock market as well, and they see that only tech stocks are pumping, and it's like, what's going on? You had um a couple of this was maybe two weeks ago, when Jerome Powell, the head of the Federal Reserve, stood on stage and was saying that he's not going to change interest rates once again.

the end of the meeting. He said he didn't understand why so many people were so pessimistic by the market. I'm not sure if any of you saw this video. You can find it online, of course. He said the words, he said, I don't understand. I don't get why so many people are so down like with the market and like with the economy. Everything seems to be going great. And you sit there. I sit there and I go, You know that you're lying. You know that I just saw something last night before bed. Probably shouldn't be watching like news stories before bed. But they were discussing in the US how like the amount of people who are struggling with money, struggling with funds, struggling with mortgages, struggling with rent. And they were saying this woman, the newswoman, she was simply regurgitating what Powell said. And she was like, You know inflation's down a little bit. Like, I mean, it's down by 0.1%. And she was like on the Consumer

Price Index, and then they had like a segment where they were going outside and asking people on the street, and everyone, it was a resounding no. I'm not happy. I'm not content with the way that things are. Things are constantly going up. And she was like, but you know inflation's down, you know, year over year. And one of the people was like, no, I've seen everything in the supermarket since last year double. He's like, what? Like my buying power continues to decrease. My rent continues to go up. We know that inflation is not just 3%. A lot of people are struggling with their jobs. Their job's pay isn't matching inflation. Realistically, if you, once again, if you get a raise in your job and they go, okay, inflation's 3%, so we'll give you a 4% raise, you're not getting a raise. They're simply matching inflation. You would literally need around a 22 to 30% raise in the amount of money that

you're making to literally be able to cover the costs so of course no one's content of course no one's happy right now and it's this idea. I don't know how much uh Jerome Powell makes. I don't I don't think I've ever cared for that information but I assume it's not minimum wage. I assume he he sits among you know some of the richest people on the planet. I'm not I'm not Assuming he's a billionaire but I assume he's relatively well off and there's this disconnect between him and the public. I don't assume Jerome Powell is is is going to you know Council housing or like any type of you know what have you and And discussing with people what their what their issues are how things how bad things actually are most things are probably paid for him so you have this gigantic disconnect between literally between the people who print money and between the people who are using the money so of course people aren't happy PE of course people are discontent if

we've we've been hearing we you you've been here. If you've seen any of the videos, if you've seen any of the analysis in the daily news that we've been going over since February, people were talking about by July, we're going to logically have a $100,000 Bitcoin. A $100,000 Bitcoin means that Ethereum is over $4 to $5,000, just you know, as normally it's just there. Altcoins have also begun to pump. So when you have this pessimism or this like sentiment over the course of the last four years, it's, do you realize in half a year, it will have been five years since 2020? Isn't that the weirdest? It's crazy to think that that much time has passed. You, you, you have this sentiment from the last couple of years. I don't know if anyone else can't shake it. You have the problem with the economy. You have the problem with money, things getting more expensive. And then you look at the cryptocurrency market for some kind of relief because

you've seen logically before that after the having prices pump up. Of course, people are discontent. And once again, this is, this is from my vantage point. A lot of the people who are, um, like presenting this news or asking why people are so discontent. They tend to be incredibly wealthy. Have you ever noticed that the amount of people? Cause it's, it's been happening so over the course of the last three or so months. We've maybe had six, seven, or eight new stories. It hasn't been 90, but they've been sprinkled about where people are like, bitcoin's doing just fine. What are you all annoyed at bit Bitcoin? You know, it's so and so and so. Bitcoin will move up eventually. And it's like, yeah, you're the CIO of a company. You, you're, you're the CEO of a company. Your, your company owns 47,000 Bitcoin. I'm certain that you have hundreds of millions of dollars in the bank. So the crypto market doesn't even really affect you. You're not even thinking like, you know, it's it's

something that you see every now and again, but it's this hyper you. You understand it's this major disconnect that we're seeing. And of course, the everyday person is pessimistic in general because of everything that's been going on. Have you been watching the news? It's crazy. He expressed concerns over the current trend where he says it's become fashionable among crypto investors to adopt a bearish stand. Do you think people want to be sad on purpose? I have no idea who this person is, and I'm not talking down to them or about them, but are you out of your mind? You think people want to be sad? You think people want to be annoyed every single day? I see the comments here, and I also see them on Twitter as well. Like, I see the discontent over the course of the last couple of months. You think people want to feel this way every single day? You think that they're doing it to be fashionable? You think people are like posting the... there's a new Twitter page that

keeps popping up for me. It's really weird. I want to say it's called Bitcoin confessions or crypto, something along those lines. I'm sure someone knows what I mean. It's literally a page. Have you ever seen those books? Maybe not. They're like these Niche books that came out years ago that, basically, were like maybe 100 to 200 Pages, quite big books. And inside the book, it was just people who, like, mailed in their confessions. It was a really heavy book. So people would, I mean, I won't tell you any of the craziest stories, but the craziest things you can imagine. People would literally, like, mail them in. It would get put into the book. And it would be like, Oh my gosh, like that's, you know, the things that people confess when they think that no one else would judge them or hear them or see them. There's like a thing like that on Twitter now, but it's about, like, crypto things.

there's so many so many people who are writing in, and they're like, Oh my gosh. One that sticks out in my head the most, and please don't ever do this, someone wrote that they took out a quarter of a million dollar loan and put it into the market. And then they didn't say when they did it, but they said since then, I think their portfolio is only around $112,000 now. They can't pay the money back to the bank 'cause they simply don't have it. And I'm like, what? Like, what do you think that people want to be this way? Like that people are trying to be cool online. No, it's this, I think it's this prevailing feeling. He said, he said, in all of my five years in crypto, I have never seen it be so cool amongst crypto-native investors as it is right now to be bearish, reflecting on the cyclical nature of market sentiments. This article was relatively popular because basically, long story short, this

guy says it's a great buying opportunity. Everyone should be buying crypto now and all that kind of stuff. But a lot of people have also exhausted like the amount of money that they have. While money printing may be infinite, the amount of money that people have to put into a market is not never-ending. It's a really weird time to be in these markets, and you kind of see this gigantic disconnect once again between normal people and like extremely wealthy people. What are you all complaining about? Just buy five more Bitcoin. Like, the price is down right now. Like, that's not something that normal people tend to say. Willie woo, a technical analyst within the space, says that, I mean I've seen all this stuff for a while. He thinks that like, um, what's the word, speculative traders within the space are slowly being flushed out. A lot of the news that we've gotten over a couple of different cycles within the cryptocurrency space tends to revolve around the idea that

larger players want to make sure that they flush out smaller players, which is the making sure that new people who get into the market are just content with the market. They sell their coins and then these coins are devoured by the whales. But apparently, it also has to do with the idea of people who have excessive longs and shorts. If you peruse around Twitter, you'll see a lot of times people saying, if we fall down to this price, this amount of longs will be liquidated. If we go if Bitcoin goes up to 84,000, these amount of shorts against Bitcoin will be liquidated. And now, as far as I can tell, I think we're in like the billions in both directions. But apparently, larger traders want to get rid rid of these people to increase liquidity in the market and a bunch of other things. But how do I say this, um, while a large amount of pessimism is still even now moving through the market, a lot of like question marks over people's heads where are things going.

where's the market going to land especially over the next couple of months. The resounding feeling that I get, besides the pessimism, is like kind of hope. I know that sounds Saturday morning cartoons, but it's this kind of feeling that the people who are still here have been here for a while. This is what at least what I'm getting. I told you all before, I can tell very easily when the market has gone down or when the market has gone up based on My Views. And even with a lower view count over the course of the last couple of months, I can tell that the people who are still watching are the people who've been here for a while, who've been through other cycles, and kind of at least a majority of and they kind of understand that we always have to go through this period where we trip over something and then comes the actual runup, if you will. Also, and forgive me on this one, I don't know what kind of delusion World a lot of

people are living in right now. For those of you not looking at the screen, on-chain data shows that Bitcoin is trading near a level that has historically acted as a boundary for the Euphoria phase of the market. There are multiple phases that we've heard before. There's like dismay, disarray, broken-hearted, you name it. There's a whole bunch of different things. Prices are going down, but as we end up moving back up, our sentiment looks like things could go well. We enter into like a disbelief phase. And it's basically Bitcoin goes up by 8, 10, 15% over the course of two weeks, and everyone's like, Yeah, but it's just going to fall again. Remember how this was three weeks ago? No, it's still like kind of there. I keep seeing it around. People keep posting on Twitter that like between the fear and greed index. Remember when we had just first hit recently? I think it was like 58,000 or $59,000 per Bitcoin, like literally.

had fallen like we had fallen in price, and the news that day across multiple news sources were that like the market was still in greed. And I was like, do you understand what it means for a price to go down for three months in a row? And all the indicators were still on Greed, as if, like, as if we were greedy. Do you understand? Usually, greed indicates, for, like, for during a market cycle, that a lot of people are buying huge amounts of buying. And this is sometimes why we get those indicators that say like Bitcoin is overbought, because it shows that too many people are buying, like, the sentiment is way too high. We moved up in price way too fast, therefore things have to cool down, the gauge has to move back towards the middle, you know, kind of neutral, and then we can kind of pick back up again. There was no greedy sentiment in the market as we were falling over the course of 3 months. Can everyone agree with that? And I know someone just said

no put your hand down. The other part is glass. Noe is talking about that. We're nearing a euphoric phase. If you've never been here, like what in the world. If you've never been in any of the other Cycles before, I'll give you a hint as to what the euphoric phase actually is. Bitcoin's at $900. Bitcoin goes to $2,000. That's interest. By the time we get to $445,000, we can start entering like the greed area. It's four times Bitcoin's previous all-time high. When we got to like $9 to $10,000, and indications that we could go higher, that's when you enter the euphoric phase. It's typically typically the last six months of the cryptocurrency market cycle where it almost feels like the market will never ever drop again. When you are in are like this is crazy. When you are in the euphoric phase, you will know. I told you all this before. The euphoric phase is probably one of

the most dangerous things within the cryptocurrency space because you wake up in the morning you see that you, I mean you've made $20,000 from the market while you slept, and there's no indication in your mind or anyone else's mind that there could be a like a market top to the prices. So Bitcoin goes to 14,000, goes to 28,000, goes to so and so thousand, and you keep sitting there, you keep making more and more money. And this is also the situation that we had in 2020 and 2021. Anyway, without having to elaborate any further, no, we are nowhere near the euphoric phase. We will be in the euphoric phase when Ethereum is about $11,000 plus and Bitcoin is well over $200 something. The Euphoria comes from you constantly looking at the, you know, the charts and you've made more money and all these new people keep getting into the market pushing more money into it, and then there doesn't seem

to be an end. I'm not really sure, especially from Glassnode, where these people are getting their numbers from. We're not even close to Greed right now. Not even remotely close to Greed, and we are nowhere near any kind of euphoria in this market. That's the, I guess, Glassnode. It's nice to see that they're optimistic, but what are you talking about? Like, none of that remotely makes any kind of sense. Also, in incredibly popular news, this is a gigantic question mark, and I don't know how this made popular news or why everyone got so excited about it. So, the company called Hashdex is apparently trying to make their own ETF and is going to apparently be a combined Bitcoin ETF and a combined Ethereum ETF. It says in a move potentially marking another significant step forward, yada yada. The crypto asset manager has filed an application for the Hashdex NASDAQ Crypto Index US ETF. If approved, it would

be the first exchange-traded fund to directly hold both spot Bitcoin and spot Ethereum in the American Market. The filing submitted via Form 19b-4 with the NASDAQ details a fund that tracks the NASDAQ Crypto Index (NCI). The form states that the ETF will include cash holdings with, once again, Coinbase Custody. For those of you who missed the news story, Coinbase is holding more and more Bitcoin every single day. They hold, I think, 1/20th of all the Bitcoin on the planet. The idea of why that made news is because imagine if you had 20 people on the planet who held all the Bitcoin, or 20 entities, if you will. Or imagine if you had 20 people on the planet who held all of the world's wealth. Everyone keeps choosing Coinbase, and it's a little weird. BitGo designated as custodians if the fund is launched. I think this became quite popular because of the... I mean, once again, if you've seen the inflows.

for the other Bitcoin ETFs. And then you have another company who is also proposing another Bitcoin ETF. If you saw the news, recently the amount of ethereum on crypto exchanges is not a lot. Of ethereum, of all the ethereum that exists, only 10% of it is on crypto exchanges. That means only one out of every 10 ether is up for grabs to be bought by the ethereum ETFs. More and more of it continues to be bought and purchased off of crypto exchanges, and then it gets staked into the network. So those coins are not up for grabs. If another company announces that they're creating or gets the chance to have an ethereum ETF and they're also buying up tons of ether, we therefore you get the idea and do not be confused as there are already um ethereum ETFs around the world who are also already accumulating tons of ether and have been doing so for a while and also many of them also have a staking Clause as well and we will probably see more of these ethereum ETFs.

like popping up over the course of this year if these within the US actually end up uh doing well. Yeah, so um right, very popular news. Let's see if they end up getting it. I I I guess the the what's the word. I guess the sentiment or happiness around this came from the idea of there maybe being extra pressure, buying pressure from this. Apparently, their ETF will be 70% Bitcoin, what have you, 70%, and if you round up, uh, 30% of Ethereum. Cool, let's see if they end up getting it. I still wish that we lived in a world where more normal people were getting into crypto as opposed to these monolithic entities who already have tons of money because the people who would benefit the most from it are everyday normal people. Um, that's going to do it for this video. I do hope that you have all enjoyed. I do hope you all are having a great day, morning, afternoon, evening, wherever you are, wherever the heck you might be. I do hope it is absolutely.

fantastic. Thank you all once again for watching, listening, liking, commenting, and supporting. I will most certainly be talking to you all soon. See you.

HUGE Bitcoin BUY SIGNAL, Bitcoin Whales Price REBOUND, Euphoric Crypto Bull Market

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