Bitcoin and Crypto DUMP On Weak ETF Launch

Bitcoin and Crypto DUMP On Weak ETF Launch

welcome back to crypto R Us I’m George
we’re all George so what is happening
today Bitcoin and
crypto both look kind of weak okay in
fact you could argue they both dumped on
a weak ETF launch so what is happening
exactly she would be concerned is this
something new that we haven’t seen
before
is Bitcoin and crypto under attack let’s
talk about all these things and more
today let’s do it welcome welcome
welcome guys we’re starting out the day
not looking too good versus yesterday
we’re at
61,200 now last
night we did have
something go on right something new what
was that well last night
which is morning and now it’s night for
them we had Asia’s very first spot
Bitcoin in E ether etf’s debut in Hong
Kong now I was very hyped up and there
were rumors and speculations that hey
volume on the first day was going to
exceed even the first day on Wall Street
did that happen no unfortunately when it
debuted Bitcoin was all the way way up
here right around 648 and then shortly
it started doing this it almost seems
like Asia has their own gray scale but
overall it was a lackluster opening okay
they only had about 12 million in
trading
volume that is
Tiny to compare the very first day of
Bitcoin spy ETS and Wall Street we’re
talking about 4.6 billion versus 12
million okay this is trading
volume and uh we had what six
ETFs and not too much not too much
inflows into any of them
so kind of like a a nothing Burger kind
of event all right but here’s the thing
here’s the thing I’ll counter this
because a lot of people are like very
like negative about this whole thing
saying well Hong on doesn’t mean
anything this is this is just garbage
and whatever right here’s the thing okay
right now obviously they’re opening
during a month that Bitcoin is weak and
we have downward pressure right so
obviously not a whole lot of smart
institutions want to jump in right now
but when Bitcoin flips around and you
know it will and you know the film will
starts hitting that volume is going to
pick up this is just going to become a
multiplier amplifier to the buying that
will be happening in the future right we
know it’s a same thing in the US right
now the
ETFs they’re not having massive inflows
either in fact we’re still seeing
outflows mostly because of grayscale
right but even Black Rock stopped buying
so it’s actually not a
surprise but because of all speculation
I was hoping for more to be honest I was
hoping for a lot more but we didn’t get
it but that doesn’t mean that this isn’t
going to help Bitcoin and crypto
especially ethereum in the future right
ethereum ETFs we’re still trying to get
that in the US I don’t think we’ll get
that this year but we already had the
very first ones in Hong Kong and we’ll
see when the market turns around both
will be absolutely fantastic okay
institutions will fomo into both and
they will attribute to
fomo just unfortunately not right now
not right now okay now outside of this
what’s going on okay if they’re not
selling and they’re not buying why are
we seeing more down pressure I
think I know um and what is that well
first of all if you look at you look at
us market today not looking so good
right and the reason why is because
we have a fomc meeting coming up in fact
tomorrow today the Board of Governors
and fed share pal are are all talking
today is kind of like the talk day and
tomorrow is when we hear their decision
mostly Paul’s decision he would come out
the press conference and then the
reporters will Grill him on next steps
but before that he will release a press
release basically stating what he’s
feeling right um
we haven’t
had a heated fomc meeting for a very
long time and when I say heated I mean
by the fact that you know the past six
of them I would say have been nothing
burgers and people kind of knew what was
going to be said I would say the only
one that was a surprise maybe
two fomc meetings ago or maybe the last
one was when he announced that there was
going to be three rate Cuts coming up I
think that I’ll give him that that was a
surprise but it was a good surprise
Market started soaring right but now we
got all this bad data about inflation
going back up and the economy going back
down what is he going to do is he going
to change his tune and
still and say we’re not going to have
three anymore we’re going to have two or
one or maybe we’re not going to have any
this year if he comes out and and hints
that there’s no more Ray Cuts this year
that would be absolutely horrendous uh
that would be horrendous but he can just
say nothing again and just say well you
know uh it’s a wait and see moment it’s
too early for us to make a decision at
this time we have to wait until June and
then maybe we could think about cutting
you know something like that would be
absolutely fine that’d be normal but I
think people are very worried about what
he may say that P may screw up the
recovery and screw up this you know the
rest of this year really so I think this
is the biggest problem right now and
I’ve said this since last week ever
since we got those bad data about GDP
and inflation it has put markets in a
turmoil and people don’t know what to do
especially Wall Street people I
shouldn’t say people in general because
bitcoiners know what to do but Wall
Street and Traders they don’t know what
to do because they’re trying to wait you
know everyone on wall I feel like is
just guessing no one really knows
everyone is so reactive no one is
um no no one it yeah it just seems like
everyone’s reactive let’s just put it
that way okay uh they’re not proactive
if you’re proactive you would be in
Bitcoin already right uh but it seems
like everyone on Wall Street is just
reactive and just always reacting to new
news and they’re not really having like
a five-year plan or a 10-year plan
because if you have a five or 10year
plan you know what it would just involve
Bitcoin kind of like what micro strategy
their plan is okay and luckily we’re
starting to see more and more
companies come up with that plan right
they’re coming to same conclusion we
need more Bitcoin right case in point
today I saw this NASDAQ is listing
Alliance resource which is a 2.8 billion
coal mining company and they have 425
Bitcoin on their balance sheet right out
of the blue a lot of companies are
starting to realize hey Bitcoin is a
real thing we need to put it in our
treasury right I just covered this a few
days ago you have a meat and seafood
company Beck and uh uh Bolo um they’re
going to accept Bitcoin they’re going to
convert 20% of their assets into Bitcoin
right so you luckily we do have a lot of
people that truly understand not just
Wall Street Traders we’re talking about
some big public traded companies they
understand they’re looking at Michael
sailor and micro strategy who continues
to buy more and more Bitcoin with every
single scent they have they’re looking
at this and they’re like you know he’s
on to something he’s right
Bitcoin is the greatest store of value
micro strategy stock has gone up 900%
since they adopted their Bitcoin
strategy no one else could pretty much
say that okay so luckily we do have
people in charge and companies and
countries and long-term holders that
understand the concept okay uh to be
proactive to plan to hold long term and
not always focus on short
term okay even though I know that’s hard
right it’s hard I know you wake up you
look at your portfolio it’s down no one
likes that no one likes to see their
portfolio go down I understand that but
don’t let it discourage you okay keep on
going focus on the future focus
on the gains that will be coming to you
okay and i’ I’ve said this before I’ve
said this at 10,000 I said this at
30,000 and no one want to listen to it
right I’m saying again at 60,000 okay
even though I I shouldn’t need to say it
at 60,000 but I’m going to say it again
because by the end of this year we will
be much higher by the end of this year
we could be at 100,000
125,000 and then most of you guys would
have forgotten this very small and
stagnant period around 60,000 right
that’s what I truly believe and I don’t
want to see you guys get fud in your
head and exit the market because of
it um all right outside of this what
what else is going on well uh let’s talk
about
this
so I think most of you guys have
forgotten because even me okay since
2023 since like the end of 2023 till now
we had one of the greatest runs in
Bitcoin history in fact I’m I’m just
going to eyeball it here I think we just
had the greatest 7 months in Bitcoin
history if you go all the way back to
2013 we never had 7 months of green even
in 2020 we only had six
months and if you look
um basically yeah prior to what we just
had we never had 7 months of
green okay so look at September October
November December and then January
February and March and finally in April
we’re having a red month so even if you
didn’t believe in any of the things I
just said about Bitcoin being the future
and being adopted and why we all need to
hold for future gains I mean if you
discount all that you just look at this
well it makes sense that Bitcoin would
take a breather right even if you
discounted a fed and the decision and
everything there’s no way anything goes
up forever infinitely without taking a
breather and we just had the greatest
run Bitcoin has ever seen in this
lifetime we never had again I’m trying
to be careful here I’m trying to look
but I don’t see outside of what the Run
we just had we never had seven
consecutive green months ever so for us
to make a8th month that’s just being
greedy that’s just being unreasonable
there’s no way you can expect Bitcoin to
go 8 9 10 12 24 months of green there
needs to be a pullback and
consolidation at some point and we’re
having that in April and that’s okay
because look at how far we have come
from September to now Bitcoin have more
than doubled its value we were talking
about
25,000 back in September and we are
sitting above 60,000 now right so again
don’t be discouraged Bitcoin cannot go
up linearly forever to the Moon there
will be pullback time
right so that that’s something else to
focus on we just can’t keep going we
need breathers and if you think about it
it’s good because a lot of you guys do
want to take well a lot of you guys want
to buy you guys always ask me when is a
good buying opportunity right well you
buy when things are low you buy when
other people are panicking you buy when
there’s blood in the streets as they say
right even if the blood is your own um
so it’s a good buying opportunity that’s
that’s all you could say about that
right and now a lot of people have also
mentioned that you know may is a
phenomenon where at least in the stock
world it’s like sell in
May um and you could see the last three
years 2021 2022 and 2023 have been read
right so we’ll see if that continues but
the thing is the thing is this year
right because we’re having first of all
if you look at it if you look at like
the year that we’re in right now we’re
in the having year so if you go back to
2024 uh 2020 the last having year hey it
was green it was Green in May right and
then you go back to the prior having
year which is
2014 guess what it was also Green in me
so again
if you’re looking at patterns the past
two years that we had a having event it
was Green in me so again maybe taking a
breather in April is a really good thing
because Denis sets us up for the
remainder of this year to be very very
very green because again you can’t have
Bitcoin go green every single month you
do need sometime where it comes down
right uh uh no it’s too it’s too early
for Blue Label right now it’s too early
all right so with that it away what else
is going on okay this and this is not a
representation of bitcoin’s price even
though some of you guys may think so
this is looking at the balance on
exchanges which continues to go down and
down and down and down okay why is this
relevant because when it comes to price
it’s all about supply and
demand demand is still up here Supply is
doing this okay so when you
have a scenario like that it’s just a
matter of time before price catches up
and starts going upwards anything that’s
valuable on this planet there is a set
Supply or there’s more demand for the
supply that’s really it if you discount
everything else it just comes down to
supply and demand and demand is only go
increase for Bitcoin and suppli is only
go decrease inflation rate was already
cut in half just a week ago with the
having event and we have a set supply
for Bitcoin and what’s out there
existing on the exchanges keeps on
dropping and it’s dropping at a rapid
rate right
now that is something to focus on that
is part of the growing fundamentals that
I talk about often okay so again don’t
be
discouraged here’s something else if you
want to look at patterns you’re you’re
fan of patterns or fractal patterns look
at this pattern okay in 2016 we
had two months of dumping before we went
up on a parabolic run and that was after
the having event okay if you look at
20120 we had two months of dumping
before the having event and then we shot
up to the moon and that dumping my
friends brought Bitcoin down to $3,800
$3,800 before to
having think about it we went as low as
$3800 before we shot up to
$69,000 and I bet a lot of people left
at that time I was streaming around that
time it was scary a lot of people didn’t
want to pay attention but imagine if if
you sold at 3800 only to see it go up to
69,000 right so right now we’re having
that red
month but look at where we are versus
the prior having Cycles we’re way way
way way higher we’re not at $44,000
Bitcoin if we were right now I would say
the cycle is broken but we’re not we’re
at
$61,000 there’s a big difference again
don’t let little red a little volatility
scare you away from massive lifechanging
wealth gains okay and here’s another
pattern if you look at this is zoomed
out but every single time every single
time Bitcoin breaks its previous High it
dips down a little bit and then it forms
a new gigantic new high it’s going to be
no different this time around we broke
through our high multiple times
already I think a lot of people forgot
that we were above
70,000 for a pretty long time and we
broke and broke and broke we broke the
previous high like three or four times
before and that was only like a month
ago that wasn’t 6 months ago it’s not
like we’ve been trending downwards for
like 6 months no it’s only been a few
weeks since then we were just at 70,000
like two weeks ago
so again don’t let What’s Happening Now
shortterm discourage you away from the
market is not the right time for that
it’s certainly not the right time for
that all
right
um that’s pretty much all I want to say
uh outside I guess Bitcoin just two
other little news one is uh I did talk
about Camino yesterday the air drop
and their market cap is already at 400
million it seems like every single decks
or every single D5 project that air
drops on salana is a massive hit look at
what happened with Jupiter after air
drop they actually started going up and
now they’re above a billion dollars
right Camino is is a Perpetual deck um
and they could be doing very well going
forward to so hopefully some of you guys
got got that and uh
and that’s really it that’s really it
all right
guys let’s do some Q&A
all right let me scroll up let me see if
I missed
anything
hery well
emry says you’re the man appreciate that
thank
you
um let’s see Mich Shad you going to
zero you get a timeout for saying that
and I don’t know if you’re trolling or
not but
um let’s see
here some people should put money into
anti-depressants instead of crypto the
Survival Summit says well first of all
that’s not funny because there are a lot
of people that are on
anti-depressants um but second of all um
it’s true you know I do what I can a lot
of you guys have been watching me for a
while some
people you know are new obviously and we
got to we got to keep in mind that the
new people they’re just not used to it
you know for for US veterans or yeah US
veterans uh we we’ve seen a a lot right
for newcomers they haven’t so the best
thing is to kind of educate them calm
them down that’s what I do best but you
know sometimes you can’t some people
can’t be helped
skinny Cal is saying we will see
3.8k uh no no we will
not um let’s see
Teddy just a random Super Chat
appreciate it have you heard of Boomer
on base I have they have a good story um
I’m actually talking to the team right
now a little bit and trying to get
educated on it um max best AI crypto to
get into to right now I my my AI crypto
plays have not changed I’m still waiting
for Asi which is the the new
company um behind fetch Singularity and
ocean they’re going combine they’re
going to become a Powerhouse I think
that’s going to be the AI project to get
into but I don’t know when they’re going
to do that outside of that one I would
say look into dpin projects okay uh ones
that are focused on AI and and you could
say render up there but they’re really
big but still I think they’re going to
continue to do well and say someone
smaller like flux who’s also in that
space I’ll say this
this is a hell of a buying opportunity
right
now we could go lower there’s no doubt
we could go lower um I would say the
worst case scenario is I said this in my
Sunday walk video I said worst case
scenario there’s one or two things
that’s going to happen either we go
sideways right or we could drop lower to
like 52 53 k Mark right that could
happen I’m not saying it will but if
you’re looking at if you’re charting
Bitcoin that could happen in a worst
case scenario and if that happens
that’ll be an absolutely fantastic
buying opportunity but even now even
where we are right now around $60 61,000
I’d say it’s still a good
dip good DCA opportunity
Ricardo you’re
welcome if you have $1,000 how would you
spend it that’s interesting
question uh the Cameron Wall Street says
georan the patreon is so worth it I
appreciate that my patreon I think is
worth it there’s a good group of people
in there and uh we have great
newsletters we have great conversations
so I need to get back in and more
because ever since my um my two week
trip been out of it but yeah it’s good
thank you
um uh Roshan ask if you have $1,000 to
spend how you spend it I would still
follow my 50 25 25 rule meaning I put
50% of that into Bitcoin I take 25% of
that and put it into big caps okay and
my opinion I would put it into just say
something like um salana and uh uh and
uh Avalanche and then the remaining you
know I put into some AI dpin plays um
you know something like that uh there’s
a few that comes to mind and and maybe
some other l2s in there
too that’s how I would do it
why is this not
refreshing Pat junior is asking so let
me know if I’m wrong the FED is either
going to cut rates later or much later
but at some point either elections or
economy will force their
hands yes
you can’t have a bad economy during
elections that would be very very bad
for the incumbent President right
so mostly in general uh election years
are great so that’s the whole point of
the rate cuts and timing it for this
year um I don’t
think I don’t think Paul really wanted
to cut three this year uh even me I I
think that’s too too aggressive you know
just like two cuts would be good and
then you wait and see next year but um I
don’t know we’ll see now that inflation
is going up that’s really bad so
hopefully Paul is probably going to say
we hope inflation is
transitory because it ticked up majorly
and maybe it ticked up because of oil
because of Middle East conflict whatever
but you know the GD be going down is
setting the perfect scenario for rate
cuts to revive the economy again right
to to let money start flowing so that
markets will do well but that uptick in
PC data really screwed up things uh if
it didn’t go up so much that he could
ignore it but the fact that it like it
went from like 1.8 to like 3.4% that’s a
huge jump that’s almost 100% jump um so
that’s what he’s worried about
and you can’t cut rates because it’s
going to cause inflation to go higher so
unless you could justify saying like
well it’s a temporary thing for
inflation because of the Middle East
conflict then then maybe he could
justifi but I mean
that’s that’s how I interpret
things why not make the economy good
even when it’s not an election year well
because you can’t keep printing money uh
if you keep printing money or you let
people borrow money at a lower interest
rate that’s going to cause inflation to
go higher and that is something that
Paul does not want to have happened
right he’s been working very hard to
curb inflation to basically reverse what
the the government did
so yeah you can’t you can’t just like
you know let money flow all the
time that’s why there’s there’s always
phases monetary easing and then monetary
tightening and then easing and
tightening it’s always like that it
never truly just stays one
way Steve hob says BDC is the best hedge
against money Printing and
much better than
gold that’s right that’s 100%
right is allcoin season still on the
horizon yes yes allcoin season will
happen traditionally they happen in a
tail end of a cycle you know so that
would be sometime in 2025 right either
depends on if if the cycle ends mid 2025
or end of
2025 you know 6 months leading up to it
and then the final month that’s when
things get really crazy for alts
B that’s
funny Walmart launches new grocery brand
interesting I heard Walmart is the
largest grocery store in the US already
or largest produce purchaser something
like
that uh how do you think aluan will do
after the cycle J Scott well I’m hoping
they finish their game I mean it’s been
promised for years now I’m really hoping
they finish a game stop working on well
I they can’t stop working at mini games
and side stuff they have to keep people
you
know entertained in the mean time but
you know if they can finish their game
it’ll be great it’ll be really really
great uh you know they’re still holding
around 341 million that’s pretty good
that’s pretty good uh alltime
High yeah still very off from the
alltime high very very very off man they
were
like 17
00 there’s still 17x from there um
they’re very very hyped up in 2021 very
hyped
up can they get back up there I’m hoping
if they finish their game yes if they
don’t they may not get back up
there Steve H Hanley says I’m sure I saw
in bansy B Banshee or bansy the other
night I have no idea where that is or
what kind of place that is but it wasn’t
me do you think base ecosystem going to
pop off in a year base is already
popping off okay first of all base has
no token so you can’t judge them
by by price but you can’t judge them by
TBL and base is at number seven 1.42 two
billion in TV right behind blast I don’t
hear anyone talk about blast so I don’t
know how blast could be so high but you
could see right there Bas at number
seven they’re probably going to surpass
them and go to number six and they’re
right behind arbitrum now if Bas keeps
on embracing memes and they continue to
do well well base will surpass arbitrum
and be neck and neck with
salana that would be crazy that would be
absolutely crazy but you know what it’s
coinbase right they got a lot of money
they got a lot of power um and I know
that they are really embracing memes
just like salana they don’t officially
say it but they do they like them
because it brings a ton of volume and uh
and people and money
why did the DK’s market cap so low for
game five project so develop with so
many features on Horizon because they
went through a lot of lot of let’s
just say that part of my language but
man I and so many people gave up on dfk
due to all the stuff that happened
before that’s why now I know that they
have changed they got new leadership
they’re going to new ction which is all
great but a lot a lot a lot of people
you know just gave up on the project
that’s
why I’m going to add these back
in on
B&B man B&B is strong as heck still up
38% for last 60 days 83
billion man salana is still far off from
BMB I mean they did flip them
temporarily but couldn’t hold
uh hi George since Bas is year erc20 and
eth is on fire and SEC and Gary guns are
labeled as Security will affect all
erc20 tokens once the case starts yes
but there’s no case consensus sued that
not the other way around SEC is not
suing consensus not suing eth Foundation
consensus is suing them so there’s
no there’s no official case that eth is
a security
uh what do you think about RFK Jr
getting Independent party of California
endorsement I don’t know I really don’t
I don’t I don’t
know any of his political stances other
than he’s Pro Bitcoin anything else that
he does he supports I have no idea I
don’t follow that I did see a video of
him doing bench presses which is
actually quite impressive for someone
his age but
um but he works out so that’s good
that’s all I know about him
Robert what do you think about bch and
xrp you don’t want to ask me about
either
one that was actually quite impressive
his uh bench pressing I don’t even know
how old he is but he looks like he’s in
pretty good
shape I have no idea what Krill
is Sage says I’m almost done with all
this it’s getting
ridiculous well you know all the
Ridiculousness I don’t even know that’s
a word um
is mostly from the fed and the US
government and governments around the
world in relation to Fiat currencies
okay so if you are sick of all the
shenanigans okay and you do not trust
governments well then you should go into
Bitcoin that’s honestly the
case and don’t let little fud scare you
okay I just showed this we had what is
it seven straight green months seven
straight green months the longest streak
we ever had in bitcoin’s history so
having a red month does not make things
worse does not stop the trend it is
absolutely normal we never ever ever
ever in bitcoin’s history had seven
straight green months and we just
did so think about that nothing goes up
forever infinitely okay um you don’t
want to let something like this
discourage you away
from the greatest store value that we
have I mean honestly
like honestly just just looking at this
you look at all the greatest years that
we’ve ever
had you know you could argue 2020 end of
2020 to beginning of
2021 right we had six straight months
and then three red months and we
continue forward you look at 2016 to
2017 2016 we had four straight months at
the end 2017 we had a couple red and
then we had another F month streak and
then at the end we had thre month streak
that were all fantastic but none of them
kept going green forever there were
months where Bitcoin dipped it’s that
simple Bitcoin needs to dip sometimes it
can’t go up infinitely forever and ever
and ever and ever
uh Satan says I don’t understand a
problem bought Bitcoin at 18K salana at
$10 why distress well the why distress
is a lot of people didn’t buy at those
levels so that’s why but I get it but
you know I’m trying to discourage people
away from being
discouraged I know it sucks day to day
week to week I get it it sucks to see
your portfolio go down I know more than
most okay uh but I also know we will
recover I have zero doubt in my mind we
will recover from this I have zero doubt
in my mind we will end the year way
higher than where we are now so you just
have to tough it out have to have some
patience continue your holding and
desing and just wait for the gains to
come to you that’s really
it all right
guys I’m going to conclude on
that don’t be discouraged stay strong
stay focused and focus on the future all
right so smash it a like subscribe the
channel I will see you guys tonight same
time as always 8:30 p.m. Central
Standard
Time have a good one take care bye-bye

Today, let’s discuss why Bitcoin and Crypto declined after Hong Kong’s ETF launch.

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0:00 Intro
0:40 Market Overview
1:00 Asia ETF’s
4:05 Downward Pressure
8:00 Bitcoin In Treasuries
10:55 Bitcoin Returns
15:40 Balance On Exchanges
17:00 Bitcoin Charts
19:50 Kamino
20:35 Q&A

🔴Full Disclaimer: This video and its contents are for informational purposes only and do not constitute an offer to sell or trade, a solicitation to buy, or recommendation for any security, cryptocurrency, or related product, nor does it constitute an offer to provide investment advice or other related services by CryptosRUs. CryptosRus may have a financial investment with the cryptocurrencies discussed in this video. In preparing this video, no individual financial or investment needs of the viewer have been taken into account nor is any financial or investment advice being offered. Any views expressed in this video were prepared based upon the information available at the time such views were written. Changed or additional information could cause such views to change.