[00:01] this point, right? And you can tell that the market makers are calling the price up and down dependent on what they think may happen. I'll get onto this all in a second, but I don't think we can climb out of this bear market and start a new
[00:13] bull market until the certainty of clarity act. So, either it does or it Either way, the certainty of it can just put that behind us and we can start to moment, you've got a short-term uncertain event. Markets always soft
[00:27] into that and it just is what it is. I'll talk about that in a second. But in it's pretty easy to see where the market is. And I think you sell 100 and you buy 50. You can see that here. So, in the previous bull market, you had these
[00:41] these big awakening events, which is long-term holders just getting out, right? So, you had a lot of dip buyers here starting to get out. You can see the age bands here. You just had a huge amount of selling. So, that was a really
[00:54] saying, "Yeah, I'll sell out." Now, these guys were a bit early, right? I have bought the dip, bought the bottom here, and sold for a small profit. Don't Why do you not want a bigger profit? You just wait longer, but yeah, it's fine. I
[01:10] distributions here on these kind of swings. So, sellers were 100, right? the ETFs." These were ETF traders who bought the dip and then sold the ETF news. Um you know, this was a huge upswing in price. So,
[01:24] incentivized to sell. And here, I guess these were four-year cycle sellers, right? Cuz this was a four-year cycle. So, you've got different cohorts of you see here though, these are coin days destroyed. These
[01:38] completely disappeared. And this is a Bitcoin cycle. It's literally the cycle played out. Prices go up, which incentivizes selling, which you had here. Now, for every sell, there's a buyer, so you have a a bull market where
[01:51] gone. 50 to 100 is the level, right? 50 to 100 50 and 100. 100, you've got sellers and around there. 50 the sellers have gone Um, you know, obviously everyone's trading here but volume's down. You can
[02:07] see loads of crypto exchanges going bust and shutting their doors, right? So volumes are down. That's a bear market. Volume down, price soft. That is a bear market. Um, and we're in it. And the price level you can pretty much see is
[02:19] 50 to 100. So is 63 a good price? It's around there, right? Like you're either it. Like if you're sensitive about 60 or 50, I get it if you're short-term trading but if you're looking at a 10-year difference, 50 or 63.
[02:34] a bear market. You can very clearly see it see it from all of this data, right? in the region of it. I think it's a decent price. Um, you've got to have a 10-year view with this stuff. I don't see how you can day trade all of this
[02:48] uh, short-term price movements is such such a volatile asset. This is the bear market. Buy it and shut your eyes. Uh, same if the Nasdaq's in a bear market, right? You can't day trade AI trades and uh,
[03:01] impossible, right? You have to just buy this stuff 10-year view. We're in the zone. I think it's okay. If you do trade Bitcoin crypto, trade for assets as trade on Bybit. Click the link in the description and you'll get up to a
[03:14] $30,000 deposit bonus when you're a new user when you click that link. I think Bitcoin is like a metronome and it's just carrying on its four-year cycle no matter what. Same as every other time, right? We had these bull markets here
[03:27] where we topped out around these levels. Same as here. Got these bear markets. Same as here. And now are we in the sideways chop phase? The real bottoming where everyone gets bored to death. Well, that could happen for another 100
[03:41] days. So another three months, four months. That's fine. Summer's not going to really do much, right? If clarity gets pushed out to to autumn, is that a would that see us into the new bull market as the price recovers?
[03:56] It's kind of unbelievable. The bear market round up here, a lot of uh layoffs, you know, head count reductions, winding down of operations. These are lagging indicators. These happen usually, uh you know, towards the
[04:09] end of a bear market. There are lots of on-chain and real-world examples of this And this is usually, you know, towards the end, of bear markets, right? This is usually towards the end. It's a lagging
[04:24] indicator, so it's kind of wild to think that it's just going to play out potentially the exact same as every other cycle, like a metronome. I can and I'm totally happy with it. I've got no intention of selling in the next few
[04:37] years, anyway. So, another few months of soft prices, soft, we're at 60k. This is not exactly soft, is it? We're at 60k, I'm happy for it to be soft or lower that's fine by me. Look, Clarity is a mess, but every, basically the whole
[04:52] financial industry, except for the banks, is now behind Clarity, um putting their weight behind it. I I don't see how you get massive, um industry-wide support for a a bill and then it doesn't go through. But this is
[05:07] about power and control, as everything is. Um so, Franklin Templeton supports Importantly, BlackRock now support it and they've come out. Uh so, you can see director, "It's an important step towards
[05:21] establishing a framework." So, they support it. Schwab, Fidelity, Goldman Sachs, and BlackRock are behind this thing. How on earth does this thing not thing. How on earth does this thing not go through, right? Well, unfortunately,
[05:35] this. And it's a it's a fight, isn't it, between right and left? So, Unfortunately, you've got a few other bills that are probably way more
[05:48] sanctions bill here. Um Hard choices on priorities have to be set for the larger agenda. You've got Clarity, to be fair. Uh Clarity is big for us, but these two are probably
[06:01] bigger, um you know, than Clarity itself. So, in terms of the timing, right? Even if Clarity were brought up today, the procedural steps um make it very, very uh hard for it to actually go through. So, I know many people are
[06:16] disappointed it won't clear by early August. That does not mean that Clarity Um Senate staff continue building towards consensus. We can still set up quicker movement in September. So, September there. Just going back to the
[06:31] the four-year cycle, which would be around here. that's a catalyst to start moving higher in price. It's pretty insane how this is wait for all this to be done, and I don't think crypto can move on from this
[06:44] until it's over, one way or another. Unfortunately, look, the act is fine, fine. For example, the one reason, if there's one for the Clarity Act to go through, is the segregation of customer assets.
[06:58] usually with a broker, if you trade stocks or anything like that, the way it works is that you use a brokerage, you have assets on there. And legally, your assets in the brokerage account should be legally separate from the balance
[07:11] sheet of the broker. So, if the broker goes bust, your assets technically separate legal structure, which means the broker can go bankrupt and bust, out to another broker, and you're fine. Unfortunately, right now for crypto,
[07:26] that isn't how it works in the states. So, if you have your assets in Coinbase, theirs, and you're part of the bankruptcy estate. This should not be how it works, but it is right now. The one thing in the Clarity Act says,
[07:39] let's separate client assets from the assets of the business. This is a massive like if there's even one reason why I should go through that set. The UAE even brought this through uh this year. Binance have signed up for this
[07:51] Binance, your assets are legally separate from their business. So, even assets wouldn't be part of their bankruptcy estate. Um and so, this is really important uh for the US. Unfortunately, we're in the middle of a
[08:04] massive battle for regulatory dominance, regulatory capture, and a battle of entrenched interests. New York has typically been the financial center, which means it has a
[08:16] massive chokehold on financial markets. And it doesn't want to give up the power it has. Now, the New York Attorney General is uh And the Republicans want this to go through because if you look, who does
[08:31] the Clarity Act actually support? Well, it supports less power in New York and more power in a decentralized fashion. And you've got BlackRock and Citadel, I believe, setting up an exchange in Texas. You can see what's happening
[08:44] power out. And of course, New York doesn't want the power to leave. So, you've got this battle which is much bigger than just consumer protections If New York didn't have an ulterior motive here, um then I might believe
[08:59] what she's saying, etc., right? So, you've got the left who are currently in you've got the left who are currently in charge in New York. Letitia James, want to give up their power that they have over financial markets. And the
[09:11] Clarity Act is part of that. Which is the other side. So, unfortunately, consumer protections are only uh going to be passed if this battle can somehow work itself out. So, having BlackRock and Fidelity and
[09:26] this, yeah, they would because they would have through. That doesn't mean it will go through because I'm you know, unfortunately, the Democrats have to vote it through. Are they going to get
[09:39] this or is the party going to say, "No, we don't want to relinquish relinquish this is much bigger than unfortunately, it's not just consumer protections. This you know, we're going to have to just see how this plays out if it does
[09:55] go positively for us or not. If you do trade Bitcoin or crypto anything else, description, sign up to Bybit, make a deposit, they'll give you a deposit deposit, they will give you a bonus up to 30,000. I'm James as Money Z G,
[10:08] cheers to watching and I'll see you in the next one.