A Perfect Storm Is Converging for Crypto in July

[00:01] geopolitical lack of liquidity, geopolitical events that are holding down. And then, you know, the largest treasury in the world from a crypto perspective is Michael Saylor. Now we have daily announcements that I think

[00:14] are unsettling the market. You take a step back, the long-term view is really, really bullish. >> A perfect storm is converging for crypto >> [music] >> pass soon.

[00:29] >> In fact, Bitcoin's move will shock the world. Let me share with you what you need to know. First of all, Bitcoin just closed its lowest monthly candle since

[00:42] closed its lowest monthly candle since September of 2024. Now we're in July and day one, we're seeing an uptick. 100 million shorts liquidated in 4 hours as million shorts liquidated in 4 hours as Bitcoin jumps back up over 60k.

[00:57] So two things can be true at once. Yes, Bitcoin's price fell to the lowest it's been in 2 years, but maybe it's time for a relief rally. And what's interesting about this move

[01:09] is that spot is supporting this price action. The initial pump was due to shorts being liquidated, yes, but also spot demand. As long as spot demand is there, the momentum could continue.

[01:24] There are many reasons to be bullish on crypto going forward. Breaking news, SEC Chair Paul Atkins says he wants crypto to flourish in the US. And one of his

[01:37] main objectives since day one, he says the president challenged us to make the US the crypto capital of the world and that is what we're doing. >> You don't have any problem with cryptocurrency and the SEC is

[01:51] fighting over it and it will flourish in >> Well, so the president basically challenged us to make crypto to the we're doing that. In the previous administration, basically the way that

[02:06] the SEC and other agencies treated digital assets was to blame to to say that they themselves were evil, the the assets versus the bad people who might

[02:19] be behind some of it. So we're out to change that to have innovators who fled the United States to develop their innovations abroad, bring them back here so that they can develop their products in the United States under American laws

[02:34] for American investors and customers, and then let American investors decide do they want to buy that or not and invest in it and rather than have the government try to decide for them. >> Got it. Terrific stuff. But make no

[02:47] >> Got it. Terrific stuff. But make no mistake about it right now. Bitcoin is mistake about it right now. Bitcoin is still below major moving averages. So that's bearish, but what's bullish is that the RSI hit a record low. There's

[03:00] bullish divergence. We are approaching oversold. So if 58k breaks, 55k is next 62.5 to get short-term bullish. And beyond

[03:14] that, the bulls need to reclaim the 200-day moving average at 62.4 followed by 64k resistance. Reclaim that. So Bitcoin really is in this

[03:27] consolidation zone. Again, short-term looks like things could go lower. That's what everybody's predicting, but that usually is what everybody tends to predict near the bottom, especially after three quarters of lower lows.

[03:42] after three quarters of lower lows. Three three-month red candles just like 2020. So the counter narrative is for something like this to happen over the next few months. Do you think something

[03:56] like this could happen over the next few months? I'll tell you what. Everybody is counting the Clarity Act out on prediction markets. They really aren't midterms. And yet, we're seeing so many names in

[04:11] US regulation saying that this is the main thing we're working on. They really want to get this passed. Even SEC Commissioner Hester Peirce today spoke on the Clarity Act saying the Senate has been working hard on this. I'm still

[04:25] optimistic it will get done this summer. I expect that we'll pass it soon. It's amazing she's putting her reputation on the line at this point now in July. >> very hard on it. The House did their work and the Senate has been has been

[04:40] work and the Senate has been has been working hard. So, I I do still I'm still summer. It's a lot of hours of work that they've by a lot of people both in the in the House and the Senate and there's still a

[04:56] lot of work happening now. So, I expect that we'll see it pass soon. You know, it it's legislation is very hard. I I I know that from the time that I spent on the Senate Banking Committee.

[05:08] There are a lot of moving pieces and this is a big piece of legislation. Um and and it's trying to do a lot of hard things, too. So, I think um >> Let's take 30 seconds and highlight a company that is leading in quantum,

[05:26] partner of Altcoin Daily, BTQ Technologies. The big news today, as written about in Yahoo Finance, is they finally received their final approval for full acquisition of Qubits. Everybody is chasing quantum computers.

[05:42] Well, BTQ just bought the company that tests them. The unsexy infrastructure is usually where the money is. And this really does help push them to the next level. BTQ Technologies is a quantum tech company focused on securing

[05:58] pleased to announce that they have received regulatory approval for its previously announced acquisition Qubits, a French quantum computing company based in Strasbourg, specializing in quantum

[06:12] software emulation, digital twin capabilities, and control systems. If you're interested in learning more, I'm going to link BTQ Technologies and this news in the description. Let's talk about what comes next. You have about 14

[06:28] about what comes next. You have about 14 weeks. 14 weeks from today could be very similar to this point last cycle. Understand that long-term holder cost Understand that long-term holder cost basis is about 49k and rising, and

[06:42] short-term holder cost basis is 69k and falling. At the current pace, they collide in about 14 weeks, a structure that has historically marked the final

[06:54] that has historically marked the final innings of Bitcoin bear markets. Are you able to wait 14 more weeks? Let's talk about the major Trump crypto news that is grabbing all the headlines outside of crypto even. Trump recently released his

[07:10] disclosures and financial documents, and upon revealing this information after analyzing 900 plus pages of the Trump financial disclosures report, Trump has made 1.1 billion from crypto, 600

[07:25] million coming from Trump meme coin, 200 from World Liberty Finance token sale, almost 200 million from sale of ownership interest in their stablecoin, 65 million from sale of part of Trump's World Liberty Finance, 6 million from

[07:39] Melania's NFT sales, 1.2 million from staking their Ethereum. This is leaving a lot of people in crypto and outside of crypto with a bad taste in their mouth as one of the craziest parts of this is that apparently Trump made more from

[07:53] crypto than Coinbase did. Let that sink in. Trump personally made more from crypto than every publicly traded US crypto company. Pro-crypto president crypto company. Pro-crypto president indeed. It is important to note that

[08:08] Trump is still a huge holder of crypto with more than 100 million in Bitcoin, 50 million of which is in cold storage, 55 million of Ethereum, also half of

[08:20] that is in cold storage, or Liberty Token stablecoin, but also top DeFi crypto projects today. He is still holding. He is still bullish. J.D. Vance, still holding, still bullish. Hey crypto holders, have you said thank you

[08:36] >> And you'll say, "Please, please, it's too much winning. We can't take it >> I mean, the fact is Trump takes care of himself first, and I guess what we have to hope for is taking care of crypto second because it does seem like taking

[08:50] to him. >> I want to make crypto great for America. That's the only thing. I don't want to have somebody else have crypto and have crypto because in crypto it's a kind of an industry where basically you're going

[09:07] to have a number two. And right now we're number one by a long shot. I want to keep it that way. The same way we're number one with AI, we're number one way. >> If you're interested in making money in

[09:20] crypto, subscribe to Altcoin Daily. We are the largest crypto community in the world. We keep you updated on a daily basis, and I will leave you with this most recent clip from Fed Chair Kevin Warsh at the ECB Forum. Now, Kevin Warsh

[09:37] made no hints on which direction July rates are going. Most likely they will remain unchanged. He did stress that the Fed is independent. He's hugely bullish on the US economy, especially with AI, and just generally he's optimistic. So,

[09:54] I don't think rate cuts are coming this month, but I can certainly see him cutting later this year or next year. Follow us on Twitter and listen to this and tell me what you think. I actually think his comments here are secretly

[10:10] >> When we met 2 weeks ago, I think the way we as a committee described the labor side of the uh mandate, as we said, labor markets are steady. We said the demand side of the economy was solid. We said the supply side of

[10:23] the economy, especially CapEx and productivity, again, this is before we see the fruits of AI, we said that was strong. I don't want to I don't want to sound like a Wall Street newsletter and update that with recent events cuz we

[10:36] follow trends. And, you know, I'll reinforce something we're all in the price stability business. That might not be our only thing I heard over the last couple of

[10:49] days, it was open-mindedness on these questions of AI, open-mindedness on But we've all looked around and we've seen that prices are too high and I don't think I'm the only one on this stage that's recommitted to deliver

[11:02] >> So, the market was right to interpret your first news conference as hawkish. >> Nice try. >> Yeah, I I I'm not I'm not I've just gotten advice from from a from my senior statesman on this group not to do that.

[11:17] But I'll say this, um expectations of inflation over the first 4 months uh first 4 weeks of this period, they've come down. Inflation risks have come down. Again, in our business, we don't want to over

[11:31] determine things, but if there were people in household or the business sector and the financial markets who thought that this Central Bank was going to be comfortable with an inflation objective above 2% Well, I guess they'd

[11:46] be disappointed. We're going to deliver price stability in the US. That's what this committee has signed up to do, and our objective is to do that. The that's still to come. >> No matter what the president wants.

[12:00] >> Uh we were we've been an independent Central Bank for a very long time. We're Central Bank for a very long time. We're going to be an independent Central Bank at this moment, and you're going to see no changes on that.