Biggest Crypto News Right Now: JPMorgan, Clarity Act, Saylor, Ethereum

[00:03] fundamentals. Just like Nvidia was range bound for several years and then had a stocks, they were kind of range bound for 2 years before they exploded. >> Breaking news, this is huge if you still hold crypto. JP Morgan has just backed

[00:20] hold crypto. JP Morgan has just backed the Crypto Clarity Act. In a statement released on their website today titled Getting the Framework Right for Digital Assets in the United States, authored by Omar and Peter, the global head of JP

[00:34] Morgan Payments and CEO of Digital Assets and Blockchain Solutions, they Assets and Blockchain Solutions, they write, "The promise is clear. Tokenization and programmable money can reduce friction in payments, shorten

[00:48] settlement cycles, and unlock efficiencies that benefit businesses and consumers alike. These technologies have the potential to modernize financial infrastructure in meaningful ways, particularly as commerce and investments

[01:03] become more global and operate around the clock. This is a huge endorsement. It seems like the Clarity Act might still get passed before midterms yet. In

[01:15] other news, major development for Bitcoin's biggest holder. Michael Bitcoin's biggest holder. Michael Saylor's strategy announced today a new digital credit capital framework, a new

[01:28] plan for managing its capital structure. They will be selling Bitcoin from time to time. They're also increasing their USD cash reserves. They're doing USD cash reserves. They're doing buybacks and taking a look at how MSTR

[01:43] is responding, it seems like the market likes this. This is giving more certainty to MSTR and Bitcoin in the short term. And yet, Bitcoin's price is

[01:55] barely up today, just eking over $60,000. It's true, Bitcoin's price $60,000. It's true, Bitcoin's price looks heavy as most of crypto is waiting for it to dump to its next level somewhere in the low 50s range. If we

[02:09] lose 60K, the next major area of interest would be around >> 49 >> K. If we hold 60K and 60K turns out to be the bottom, and if we do just half of the gains that we did from 2022 to 2025,

[02:25] Bitcoin's cycle high in a few years could be 240K. So, make no mistake about it, the 60K level is hugely important, hugely important. Expert trader and popular crypto analyst Ansem articulates why 60K

[02:43] is such an important level for Bitcoin. >> The 60K level on Bitcoin is hugely Hugely important level. Like never in Bitcoin's history has it traded beneath >> time high >> from a previous cycle for for more than

[02:58] like a week, ever. And this was the all-time high from 2021. all-time high from 2021. Hit 58K, 58.6K in February. Peaked a little bit above in April, like 64K, sold off, and then retested that same

[03:11] sold off, and then retested that same area later in 2021. And that's the support level that was previously a resistance that we're retesting now. It's the main support level that we held in in 2024. It's also the main support

[03:24] level or like not the main support level. But like right before um the Trump inauguration happened and we had that run up with all the ETFs buying. that run up with all the ETFs buying. It's also the low from um February.

[03:38] Like this February low. Confluence of a lot of things. Also the currently right at that. So yeah, I think confluence of a lot of things. It's a really big spot. 58 to 60 is a really big support level on Bitcoin. Um

[03:52] from people's concern around Saylor and he's not going to need to sell the 55 billion in Bitcoin that he currently has right now. They have like a billion or 1.1 billion in cash, which is what they're using going to use to pay out

[04:07] the preferred stretch shares to people. Um, and so the like the reckoning or so to say, like that doesn't happen until like 6 months lot of the panic and fear around him needing to sell cuz people are selling

[04:21] people are de-risking thinking that's going to happen. confluence of a lot of markets selling, a lot of forced selling um, happening into a key support level and it holds especially going into Q3

[04:35] um, the start of a new quarter, I think it's a a good spot to be long with a pretty tight invalidation. >> Bitcoin ETF buyers are just puking. If you bought Bitcoin via the ETF over the last 2 years, the vast majority of you

[04:50] are just puking, just selling. It is an ETF utter capitulation. Yet, for every seller, there is a buyer and despite quantum fears, despite Saylor concerns,

[05:03] it appears that long-term Bitcoin holders are viewing these prices as holders are viewing these prices as value. Their holdings have recently reached an all-time high, nearly 17 million coins. Interesting. With so many

[05:19] coins changing hands, this is how bottoms are formed. Major signal. When bottoms are formed. Major signal. When supply in profit versus supply in loss converge, it has always been a great time to dollar cost average. This time

[05:34] will be no different. The bottom is forming just like time and time again. But how could you not be bullish from here? Especially with RSI coming from the lowest it's ever been, now bullish divergence, and while I believe that

[05:50] happening now, it's very possible that for the next couple months, we're going to see a time capitulation where it doesn't go that higher, it's just riding this trend line. We are witnessing a major

[06:06] line. We are witnessing a major launchpad getting formed for Bitcoin, and particularly for Ethereum. Ethereum fundamentals are getting stronger, even if price hasn't caught up yet. This is the bull case for Ethereum, my friends.

[06:21] At the center of why you want to be bullish on crypto is it's both the future of AI and the future of Wall Street upping their tech stacks. Listen to Tom Lee explain the bull case. >> I think Ethereum can't escape the fact

[06:37] that we're in a period where price is lagging fundamentals. You know, Ethereum has gained additional assets. So, more real-world assets are being tokenized on Ethereum.

[06:50] the foundation is now upgrading and making Ethereum quantum-proof, adding privacy, all the things that are going to be future-proofing Ethereum. And I think if someone questions, you know, do we need decentralized

[07:04] we already know what Wall Street's doing. They are tokenizing, you know, most of the major funds and stocks that are being Ethereum because it is the most widely used blockchain.

[07:18] I think for someone who's really thinking about AI, you know, they need to keep in mind that the in the AI world, a lot of those engineers are also realizing that downstream of the AI story is a need to

[07:33] really prove identity and decentralized control. And I'll give you an example. It's probably not going to be too many It's probably not going to be too many years away when AI agents are going to

[07:46] be producing income for us. You know, they are going to be our delegated entities and they'll be earning income, accumulating wealth. AI agents might actually become

[07:59] than us. In other words, we're going to start to question whether we work for the AI agent or they actually work for us. And if if if it's a centralized system, then you get you end up with Skynet.

[08:12] That's why I think it's there's going to be a real focus on people relying on decentralized systems to protect humans against AI becoming too powerful. So, I would say, you know,

[08:27] there is no change to the idea that at the center of why you want to be involved in crypto is both the future of AI and Wall Street's updating their tech But yeah, it's been no fun. This has not been a summer of crypto. You know what?

[08:42] Prices been terrible. So, when crypto winter officially ends and crypto spring winter officially ends and crypto spring officially starts, Ethereum is in such a great place. I feel very confident that when

[08:55] winter spring ends and the bull market starts, Ethereum is going to be a a central player in all things that are going to be very relevant. And you know, in that future, financial

[09:11] services, the whole industry is really becoming a tech stack. You know, money is becoming software. And when you move money and makes it make it software and composable,

[09:25] there is a a transformation of the economy. And and that's really where Ethereum's going to shine because now the sudden, stocks the sudden, stocks trade 24/7, but stocks trade on factors.

[09:37] I I think it's there's a enormous opportunity, but yes, we are in the a period where price is is really disappointing and it's very frustrating as well. But in every drawdown, you have to focus on the opportunities because

[09:51] just like Nvidia was range bound for several years, um and then had a parabolic move. Look at the memory stocks. They were kind of range bound for 2 years before they exploded. And in fact, I worked at JP

[10:03] Morgan for 15 years. The stock was largely $17 perhaps 13 of those 15 years. And where is JP Morgan now? You know, over $200.

[10:16] So to me, uh I am used to witnessing when fundamentals are compounding, price doesn't follow. So I I would say, uh you know, we constantly test our thesis, but again,

[10:29] unless we are comfortable that we can trust the future of AI and let AI agents manage our wealth and our sovereignty.

[10:41] don't need decentralized blockchains because we can just rely on Skynet and Visa to control our future. But if we do care about that, that's that's why crypto is going to be extremely relevant.

[10:54] >> You could say that buying Ethereum today is very similar to buying Ethereum at COVID crash levels. And there is reason to believe that if we do see strength the second half of this year, altcoins could really take off. We could

[11:10] altcoins could really take off. We could see an altcoin season of sorts. Nobody That might be the very reason it happens. And that's what's going on in crypto today. Hey, you miss a day, you miss a lot. We are the largest crypto

[11:24] community in the world. Subscribe to Altcoin Daily. Stay ahead of the crypto market. And follow us on X. We just hit 2.3 million followers on X. Following us on X is a great way to stay up-to-date by the second. It takes me 2 seconds to

[11:40] post information on X. It takes me a couple hours to make a YouTube video. platforms. See you tomorrow, my friends.