Huge Week for Bitcoin

Huge Week for Bitcoin

welcome back to another Sunday walk video absolutely gorgeous today like 63° sunny out and look at the leaves all out it’s absolutely gorgeous so this week I want to talk about Bitcoin once again my overall thoughts about this coming week and I don’t know a few other little stuff I’ll I’ll share along the way so Bitcoin we had a pretty interesting last week right um start out not so good and then we bottomed out and then on Friday and Saturday we started recovering so you could say we had a mini dip I measured all the way from the very top to our bottom from 73 down to our 56 was about a 23% drop not too bad and why do I say that well if you look at some of the previous drops that we had in previous Cycles 25% is actually pretty normal we’ve seen plenty of 20 25 30 35% dips in previous cycles and this one was probably one of our worst ones for this cycle again a lot of people will look at it from the from the glass half empty kind of way I look at it the glass half full kind of way and here’s why a lot of people did sell during this mini tip a lot of retailers retail investors did sell because in their head they’re thinking well you know I’ve lived through this before or maybe they didn’t and this is new it’s scary a lot of retail decide to sell and every single dip you you always see the same thing you see a lot of retail people get scared and leave the market but you know who didn’t leave the the big boys the whales the institutions the long-term holders they didn’t leave in fact I showed during the week show a lot of metrics that show them actually increasing their buys that’s what the smart money does and the dumb money unfortunately the retail investors the ones with with the paper hands they fall for it every single time and then they have to fomo in later when things recover so that’s the unfortunate thing right like for me I said I look at things half uh or I look at things uh glass half full because look at a dip we just had look how fast we recover basically um we went from 56 down up to 64 now we’re at like that even level there it’s an important resistance SL support level and we climbed back up within within less than a week and also like I said compared to previous drops if you go back and look at previous dips from previous Cycles we had a lot more of them and they were a lot more volatile so this is why I think it’s a good a good thing because the Market is much stronger now it’s more mature and there’s a lot more big money smart money into space and they’re not selling they’re accumulating more that’s why I think we’re in a really good spot despite some that were panicking or Panic sold or getting all scared and causing fud no I’m as bullish as ever and what I love is the fact that on Friday we had one major change and that is what I’m looking for this week a major changes grayscale finally finally had no outflows or I shouldn’t say had no outflows it probably did but the overall net flow of grayscale was positive meaning it actually took in money we haven’t seen that since ETS started 77 days ago or now it’s probably like 80 Days that’s fantastic we’ve been waiting for that Turning Point a couple times during the last 2 3 months we saw how the outflow kind of got to zero really close – 20 – 30 and all of a sudden we got like a minus 150 day right I know gray scale themselves are not to blame I know I always refer to grayscale selling and it’s the same kind of logic when Black Rock finally had outflow people are like why is black selling it’s different these are fun fund issuers fund companies so they issue shares of that fund and it it dep depends on if people are buying or selling those shares right so they have to balance out their fund based on what people are doing now with that said yes it’s not entirely fair to just blame grayscale because if insiders or shareholders are selling they have no choice but to sell their Bitcoin but we know it’s been a convoluted history so far with grayscale because their parent company dcg and their sister company Genesis had some major issues so we know that they owed creditors a lot of money billions upon billions and they’re not divulging information they’re not saying okay we’re going to sell our great scale shares now right like no one knows so there were periods of time where yeah you could have blamed them due to the problems of their parent company and a sister company so who knows how many billion of shares uh billion yeah billion dollars worth of shares were sold due to their to other companies right and they knew this they had to have known that’s why they made their their fees five times as high as others they knew that this was going to happen they knew that a lot of shares were going to be sold regardless that’s the past I think knock on wood if I had any wood to knock on I do a lot of trees but I’m not going to go there but we had a a positive okay we had a positive inflow on Friday I believe it was like 65 million and overall we had a positive 360 million inflow day on Friday so we broke a streak I think it was like 4 days or 5 days of net outflow and now we have net inflow once again but more importantly grayscale had had a inflow instead of outflow so that is the new thing I’m looking forward to this week if that Trend continues and this whole week we see grayscale not selling and only buying and other ETFs start ramping up too and I’m talking about even the Hong Kong ones a lot of people thought the opening week was disappointing hey the four funds or three funds or four funds in Hong Kong I already have a quarter of a billion dollars under management for a single week that’s not bad I know we’re used to talking about billions but if they took it a quarter of a billion in a week well imagine week two 3 4 at the end of one year they will be holding on billions too so this week I think it’s going to be interesting I’m I’m really bullish about this week because obviously we recover back up to the point I thought we were going to remember last week I said there’s two scenarios one we either keep trending down towards 52,000 okay which I guess that’s not out of the picture yet there’s still a chance that could happen but I think it’s much Slimmer now since we come back back up two I said we recover back up to that 637 Mark and we just trended along there for a little bit and it’s looking like it’s number two right and I kind of thought so I didn’t believe that dip was a prolonged dip I really didn’t think we were going to go down to 52 but hey if it happens it happens like I said it’s a good buying opportunity whenever Bitcoin dips goodbye opportunity right but because we didn’t do that we came back at of 64 I imagine we could just go sideways for a little bit maybe for a few months maybe we got a little little upwards movement maybe we go up 65 66 maybe we go all the way up to $70 and get it and maybe we come shun back down but it’s looking like we may be going sideways for a little bit until the Market is ready maybe until the very first rate cut in the US and that could be coming as soon as next month but if not next month maybe September August September but I’m bullish about this week let’s see what happens I really think there’s a good chance that this week we see Bitcoin go higher towards like 70k and then make maybe we Trend back down a little bit I don’t think we’re going to hit like 70k and just keep going and go to 80k I think we may have to wait a month or two until conditions are a little bit better and then we start going right I guess we’ll see but I I I am really looking forward to grayscale and seeing whether or not they’re going to be buying a whole lot this week and other ETFs of course are they going to continue to buy what’s going to happen in Hong Kong I think that’s going to be a big narrative for this week and I’m looking forward to it because I think it’s going to be very positive all right so there’s that what else do I want to talk about um I see this thing about I see a lot of people talking about altcoin dominance and how Bitcoin dominance may have peaked and how it could go down and then it could be allcoin season I I I know there’s something to it but I don’t put too much weight into it I don’t chart it like like others and here’s the reason we have institutions that are buying Bitcoin and these institutions could be public trade companies some of the biggest ones in the world could be financial institutions like Banks could be fintech companies could be tech companies in general could be I don’t know other funds right like Pension funds and retirement funds endowments family offices all these guys you know you look at how much they have under management and we’re talking about tens of trillions of dollars in the world there’s about a hundred trillion dollars worth of money I guess but you look at some of these entities I just talked about they have easily a trillion under management or 500 billion under management or whatever crazy number that they have just for them to enter Bitcoin a little bit like just literally like 5% or 10% will drive Bitcoin so high we can’t even imagine that’s why Kathy Wood is now saying 3.4 million doll by the end of 2030 and she predicts all these guys they just have to put 5% of their um 5% of their total assets into Bitcoin that’s it so my point is this if they have so much money they could put in Bitcoin dominance could stay high and go higher forever it’s not something you could really chart you can’t really predict that I know charting is basically you look at history what has happened and you’re try to project what may happen in the future but we can’t really predict how much money is flowing in so that’s why I don’t put a lot of weight when you’re charting Bitcoin dominance and some some people are noting that oh you know it’s kind of topped out and go down and it’s allcoin season no we’re way way too early for that history doesn’t repeat but it tends to rhyme and allcoin season never ever starts this early it always starts towards the end of a cycle that doesn’t mean alts can’t go up yeah they could still Trend up but you notice when Bitcoin goes down almost every single alt goes down and follows the same pattern like like every single alt is following the same pattern because Bitcoin is still the Big Daddy it leads the way so if billions or trillions are flowing to bitcoin the dominance could stay high for a very long time and this ends up being a super cycle well it’s just going to stay elevated maybe forever but that doesn’t mean that Al won’t Trend up but if you’re if you’re like wondering when true hin season starts that’s usually a tail end of a cycle so I don’t think true Alin season will really start until 2025 maybe it starts a little bit early maybe it starts beginning of the year or mid year because traditionally speaking it starts like the very tail end but this time around may be different and it could good be because the memes the memes are so strong and they they help a lot of retail people make a lot of money maybe maybe that’s you know that’s going Drive Alin season here a little bit faster but uh again a lot of you guys are wondering about altcoin season whether it’s here you know no no Bitcoin dominance will stay elevated for a long time and trust me even those of you guys that don’t have Bitcoin and only alts you want that you want Bitcoin dominance to be high because Bitcoin leads the way if Bitcoin dominance goes down and Bitcoin starts to Trend downwards in a big way it’s not going to help adults I’ll guarantee you that we have seen that just last week the alt took a beating when Bitcoin went down that tells you we’re not in allcoin season no we’re close to it all right so that’s that’s that what else I want I’m talking about uh I don’t know that’s pretty much it a couple other things I guess real quick number one uh if you’re playing with leverage I know it’s been really tough and I I’ve spoken a lot about it but you got to set your stop losses guys um so I lo I told you guys I had I did horrible I lost a whole bunch of money the month before this recent time since the fomc meeting till now I started making some of it back because Bitcoin started trending upwards especially when we were down below to 56 58 I took advantage through some leverage some low leverage like 8 to 10x and I made some of it back but I set my stop losses really tight and yesterday I forgot yesterday I forgot I had some people over I had something open and then I got distracted whole night you know just hanging out with others and boom you know Bitcoin had a big dip and then came back up I got liquidated right that sucks my other ones that set stop losses okay you know you have something left and then you can keep going if you forget and you get that volatility and you instantly get liquid it sucks so here’s here’s my advice slow down your leverage like I said in the last video decrease if you want to go two or 3x and go longterm and not worry about it I think that’s still a really good play and I have some of that going but for everyone else that wants to like try to catch the bottom and ride it up make sure you set those stop losses no matter what doesn’t doesn’t it doesn’t it doesn’t matter if it seems like it’s just go it’s going Trend up just set that stop loss just in case and still I would suggest playing with lower leverage at this point lastly I think I already have my mind made but I want to get your opinion or you guys’s opinion my cyber truck delivery is finally ready I got a notice from Tesla saying that you got to confirmed delivery and then your delivery will be soon right I’m sure some of you guys have seen videos from others already about their Foundation series cyber truck most of the stuff I’ve been hearing have been bad um you know there’s a new issue where like the accelerator pedal like the cover comes loose and then it like you know it could get jammed up under a dash or something that’s horrible you know fingers getting cut off potentially not so good you know blemishes or rust or whatever it is on the on the stainless steel body not so good uh wheel covers like cutting into the tire so you had to tting them off not so good you know so so far everything I’ve been hearing have been bad but there’s no doubt the Cyber truck I think it looks so unique it’s so eye-catching you know there’s nothing else out there I’ve seen a couple I saw one on the road the other day and while I was in Orlando I saw one in parking lot and everyone was pulling up to take pictures like whether you like it or don’t like it it’s so unique it’s going to draw a lot of attention but I I’m faced with this reality it’s like no Teslas have held the resale value well I’m thinking maybe the Cy cyber truck will because it’s so limited and it’s so unique but I’ll tell you my current model X plaid has dropped half in value in 2 years it really sucks um and and the Teslas I have before Ultra so I’m faced with the this dilemma if I don’t take delivery I lose my ,000 deposit non-refundable or I could take delivery and take my chances I don’t really have a parking spot for it I guess I could park it outside it’s a huge freaking truck and I I kind of post this on X already and half the people said yes get it and half the people says ugly as F so it’s like it’s really split 50/50 so I don’t know what to do should I take delivery or not or stall you guys tell me I’m curious so let me know in the comments all right guys that’s pretty much it overall uh I think this is going to be a very bullish week for for Bitcoin I don’t know what to do about this Tesla delivery oh and give you guys an update on my carnivore in case you’re wondering I really kind of got screwed off screwed up with my travels and now that I’ve been back for about a week or two I’ve been trying to get back on still cheating a little bit but going get back on Hardcore no more cheating my knee still feels a whole lot better my friend who got on Carnivore his knees feel a whole lot better my brother-in-law has you know chronic back aches and stuff trying to convince him to see how it is right so I do think carnivore does get rid of inflammation for sure my weight loss however has stopped I lost about maybe 5 to 7 lbs and it’s been stuck since then I think it could be that again just get rid of water weight inflammation but as it gets warmer I going dedicate myself to doing a lot more exercise outside dropping the weight going try to stick with this diet and see how it goes but I did incorporate veggies and some fruits like the berry fruits and stuff so that has made things a whole lot easier all right guys that’s it for this video smash it a like subscribe to the channel I’ll see you guys later bye-bye

In this sunday walk video, I cover why I’m bullish on Bitcoin for this week. Also a little bit about altcoin season, leverage, and whether should I get the Tesla Cybertruck.

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