Bitcoin Just Pulled Back to $83K...Why? Transcript, AI Summary & Key Points

00:02 Welcome back to Cryptos are Us. I'm George. We're all George. Welcome to another market open stream. Today we're opening up a little bit in the red. So, Bitcoin just pulled back to 83K. Is it a concern? Why did it do so? Why does it seem like it's getting red again? Let's talk about all these things and more. All right, let's do it, guys. Let's do it.

00:37 Welcome, welcome, welcome. So, as you can see, we're in we're slightly below 84 and yesterday we were slightly we were like 86, slightly under 87, right? So, we did slide down a little bit, but overall we're still doing pretty well considering where we were early this month, okay? Or even a few weeks ago, right? um and ETH and soul, you know, even though they all came down a little bit, but still slightly under 2700, slightly well, now above 115, you know, so things are still holding quite okay.

01:23 But of course, some people are wondering why why do we go down? What what's going on? Why aren't we skyrocketing to 100 yet? Well, we still have some of these headwinds and tailwinds to worry about. The US market is opening up lower today and that's because once again there's fear about rates. Okay. Uh including our bond rates which are skyhigh, our 30-year yield, highest level since 2004.

02:01 That's 22 years. Okay, which is horrible. 5.44%. And if you're not familiar why this is bad, it's because no one wants it. That's why you only raise the yield when no one wants it. And it's very important as a country that we're able to sell our bonds because their IUS is one of the biggest money generators for this country and all countries around the world.

02:35 And really no one's bonds at this point is doing spectacular. You're looking at Japan, Euro, you know, UK all looking bad. The yield keeps going upwards because who wants to hold fiat long term? No one at this point. Everyone realizes just a vicious cycle, a downward downward spiral to nothing. Basically, especially with all the over printing, the overspending, all that stuff.

03:09 That's the reason why we actually have a Fed. Okay. Well, the original regions were even more malicious, but um but right now we have we have central banks and Fed sole purpose is to try try in their own way to stop the irresponsible spending and printing and our deficit and everything, the interest we had to pay, all that, right? What does that amount to?

03:44 amounts to high inflation and that's really the only job that the Fed is supposed to control that. That's the only job is just control inflation and they can't really stop the reasons or the causes. They're just like a band-aid, right? So, that's one of the big things that's still up for remaining this year is whether or not we're going to get another rate hike or maybe two rate hikes, which should be off the table.

04:17 But at this point, you know, it's hard to ignore because inflation is still high, oil is still high, the war is not ending. I should say wars are not ending. And it just keeps dragging on and it just nonstop. So, one of the things that's affecting the markets today, the redness. Yeah, there's that. What else? Uh, President Xi from China is here. Okay.

04:53 He doesn't leave the country very often, so this is important. They're going to talk about Taiwan, AI, of course, Iran. There are a lot of things to talk about. Okay. I don't know what they really expect Trump to say about Taiwan. AI, I think we could all guess. They could talk about maybe some kind of joint thing to slow things down or at least be safe about AI.

05:18 And as for Iran, I'm sure there's a lot to talk about because all the oil and everything, you know, still still halted, stopped, and you know, they're probably going to discuss how to get this open or how China should buy more oil from Venezuela since now we control it. Um, yeah, there there there are a lot of things to discuss in here. I don't know if this is what's causing the markets to be somewhat weak.

05:54 I think it's more of the fear of bond yields going skyhigh and possibly another rate hike. But yeah, something something interesting to think about. I don't know what is going to be released. This is a big deal. Two powerhouses discussing terms. Maybe they're going to come to agreement. Maybe some kind of secret handshake is going to happen. I don't know.

06:26 I don't know. Uh I did also see this. A federal judge revoked that ban, the White House ban on CNN, MS Now and Political, saying that it's unconstitutional. So, I don't know if Trump is really going to challenge this and and uh make a bigger deal of this, but it seems like that may have backfired. A lot of bad press. Other press, even Fox News, said that they were not going to cover White House press conferences.

07:01 They joined in on the ban. So, doesn't seem like that this was going very well. All right. Well, I'll tell you these things. We had a fantastic We had a fantastic inflow day yesterday. Even though we didn't go higher, doesn't matter. ETF inflow 347 million for Bitcoin. ETH 105 million, soul about 14 million, and XRP about 44 million. So obviously money rotation coming back in still happening.

07:46 So this little little little dip. Okay. Really on a grand scheme of things is nothing a small distraction. Okay. What you got to pay attention to is where the money's flowing. And it's flowing in in a big way. Look at it. Look at the last 90 days. Look at this. Mostly green. And the green is way way way higher. Right. Plus 5 billion. And ETH is plus 3 billion.

08:28 Souls plus 358 million. So obviously a lot of money is flowing back in and continues to do so, which is great. If you're looking at the liquidation heat map, it also made sense that we went down a little bit, clear out a little bit of leverage. It always seems to happen, but we got a lot of leverage to clear going all the way up to like 865 from the short side.

09:00 So again, we could bounce right back up very quickly to 86 87. 87 was a recent high. We could bounce up to 87 and possibly even up here. You can see it's pretty clear up here. That's 88 territory. We could do that very quickly, very unexpectedly, and no one will remember this dip. Dips are gifts and at this point I don't think anyone doubts that we are in recovery mode.

09:34 We're no longer in crypto winter and the momentum is back. So look forward to that. Uh unfortunately though a lot of people got liquidated yesterday. One of the reasons why we even fell down 83 is because we had 600 million almost 600 million get liquidated. Almost all of that on the long side. Again, too many people playing with high high leverage.

10:07 Just too much. You got too much money to spend, go on Clash Picks or go on Clashpad. All right, there's much better buys or predictions available. Okay. But too many people are still throwing on. I mean, Bitcoin hardly moved like 2 percentage point. And yet you have 500 plus million getting liquidated from not Bitcoin. Not only Bitcoin, ETH, XRP, Zcash hype.

10:46 That tells you what you need to know. People are opening 50x longs. To get liquidated from a 2% movement, you got to have a 50x long. Why are people throwing out 50x longs? If you have a 3x, you're fine. If you have a 2x, even better. Even if you do did a five or 10x, you'll probably be down a lot, but still, you wouldn't be liquidated. Only way is if you're throwing a 50x, 75x, 100x, don't do it.

11:23 That's why hype and others are so rich because of all the traders that keep on trading, getting liquidated, trying to revenge trade. So unfortunately, that is also holding us back. Every time we have some major movement, you see a ton of liquidations and that drives us either upwards or downwards in a big way as we get squeezes. But right now, at least today, not in the right direction.

11:56 But what is moving in the right direction is the CFTC, one of our agencies here that controls crypto. They're not waiting no more for that clarity act. They're going to move forward. So Mike uh Sleg says he's updating the rules for 24 by7 trading, tokenization, AI agents, basically everything. Tokenization, stocks, prediction markets, you name it. Very bullish on all things crypto.

12:35 So this is why I was saying even though Clarity Act didn't pass, I mean the CFTC is pushing forward. Same thing with the SEC. Neither one is stopping. So this sets the road for huge, huge innovations, for huge volumes, huge everything when it comes to crypto here in the US, right? and this go lead the space so that other countries you know they're they're going to follow.

13:09 So overall good good stuff being worked on. Uh last few things demand is coming back up which obviously it always does. Okay starting to come back up. but not not towards peak but starting to come back up. And here's a very very very very simple chart for you guys to look at. This is at on a threemonth scale. You normally don't see it, but this goes back all the way uh not not all the way to the beginning, but since two three.

14:01 Yeah, this shows the last three crypto winters. The bottom of 2018, 2019, bottom of 201 21, 22 had COVID in there. We've been holding with this tread line and look at what happens afterwards, right? So in a grand scheme of things, this is where we are in terms of recovery very early and we got a long long long long ways to go before we hit that next top and then we go through it again.

14:43 We'll have some kind of crypto winter. The next one, the bottom of the next crypto winter, believe it or not, could be at $250,000. Because if you look at every low, they've been getting higher by about 4x. So our low of this cycle is 60K. The one before was about 15K, right? So not quite 4x, but pretty close. 3 and a halfx or something. and prior to the 15K was 3,000.

15:25 So if we do this and extrapolate 4x 3 and a halfx, we're talking about 200 240,000 as a low for the next bottom. Just think about that. Just think about it. If that's low, where's high? Right? Things could get quite crazy. All right. That's pretty much it. Uh, yeah, red day, but not terribly red. We're under 84K. Again, I do have a Clash picks for those of you guys that do love to predict.

16:13 We do have one on Clashpad. How many projects will Clashpad reach by September 30th in about six days and you can make your prediction here. Uh 30K volume. That's not bad on Clash Pickics, but of course we got many others, a lot of sports and everything on here. But on Clashpad, we have given out 235 236 soul out to holders. That is absolutely fantastic.

16:58 And we got new coins being created every day. BTD boosted. We still have We have brick that's boosted, going up in a big way. Clash World is still doing well. Alberto was selected. There was a big DJ pot last night. Like almost 20 soul went into that. We're looking good today, guys. We're looking good. All right, let's do some kune. How do you find out total volume Clash Pad's bringing in for one day, one week?

18:13 First of all, why do you need to know those things? And second of all, if you really wanted, you could calculate it from the sole rewards or how much is being taken in by the platform. You can calculate it through those things. But otherwise, why do you need to know? What's important is the rewards given out. That's really all that matters. People that are buying and holding, they're getting rewarded for holding unlike anything else out there.

18:48 Is 85k possible? Of course, it's possible. We were just at 87. Is it possible in the next five minutes? Sure, probably low probability, but it's possible. We have seen some crazy swings during my live streams. Chad is asking, "Hey Jordan, I'm normal guy in crypto since 2021. I have a urge to go to Bitcoin conference, but I'm not into tech at all. Is it worth it for someone not not industry to go to these?"

19:47 You're conflating two things. If you go to a Bitcoin conference, has nothing to do with tech. This isn't a tech conference. It's just a Bitcoin conference. So, you it depends on how much you want to get out of it. Do you want to hear the speakers talk in person? Possibly meet people, right, and talk to some projects like miners and stuff that are in Bitcoin.

20:13 If those things are important to you, then great. Otherwise, for most people, they would say no because the prices are skyhigh for tickets. And you could just watch all that online if you wanted to. But it's more like an experience, you know, to experience like 20, 30, 40,000 people in in an arena that are all Bitcoin fans and possibly see some of your favorite like influencers or celebrities walking around like Sailor walk around and stuff, you you know, it's a cool experience.

20:46 So, it's just depends on depends on you. Can you do a quick view of Sooie? That That's what Suie looks like. What? What? What are you trying to What are you trying to see? Stephen Young, that DCA portfolio is gone. I no longer have that. So, no, I can't be doing that. And it's not relevant. You already know what was in there. It was all these projects like ETH, Soul, Sooie, XRP, Cardano, Bitcoin, the major caps, all the small ones, they all died off.

21:54 Just really that simple. Can you give us a demonstration on creating memecoin? I don't really need to. I don't want to mint another one. The site is as simple as possible. You connect your wallet and go create a coin. That's it. Follow through the steps. It's really, really simple. It takes you two minutes. Two minutes. Literally, that's how long it takes.

22:25 As long as you have a name and a description and a logo ready. Takes you two minutes. Less than two minutes. Probably one minute. Haven't heard you talk about B in forever. bullish. No, it's because I'm not bullish on it. And it's probably because you haven't been here for years. Vet is no longer VET. It's really better. Their new system with their new token about cleaning up the earth.

22:52 That's the only thing they care about. They don't do anything else. So, it kind of irritates me the way you phrase that because first of all, I know you haven't been in here for years and then you insinuate that I haven't been talking about it as if it's my fault. It's really because you haven't been here and you haven't heard me say that. How do I get class score?

23:27 I have a Clashcoin and connected my email. Did you verify your wallets? You go to clash project.ai. And that's how you get a Clash score. I have it everywhere, guys. Why Why is it that hard to to understand? Even in Ask Clash, you click on Clash leaderboard. It brings you here and you log in. Then you connect your wallet. It's in your profile. It's It's really not that hard.

24:04 I guess I should put in here on the leaderboard to get a score, you actually have to log in and connect your wallet. But I'm pretty sure it's down here in the instructions somewhere. But maybe maybe I got to put it up front and make it a little more clear. Josh is tough. It's uh it's real tough sometimes. I get really irritated as I get older. My patience is less and I get so much more angry and irritated at stupid comments, stupid people, uh naive people.

25:08 I generally don't like to talk people in real life. That's just not his truth. Uh, as I get older, I just I can't deal with it as much. I get so angry at people sometimes, especially like incompetent people. People that that I'm paying, not not saying on my team, but like like just people I'm paying every day for services and they're incompetent and I I can't stand it.

26:01 Like I had to uh give you example like my um grass cutters. They're pretty cheap. My my yard is not the biggest. It's probably bigger than a normal yard, but still. Had these guys for a year. They'd be pretty cheap, but you know, their work was so so and you know, there were patches of grass that they were trying. I told them, you know, you you kind of like when they were cutting, they cut it too short or something and it's like it killed the grass.

26:35 So, so then they they bought some sod and and try to replace them, but like they cut the sod to like thin strips. I'm like, it's not going to work if you if you you know, if you had saw it before, you know, you need to leave in big pieces. As soon as you cut in small pieces, it's just going to die. They don't believe me. They just put it out. Of course, it dies.

26:56 And I'm like, I'm not paying for that. I already told you just put some freaking seed and it works because the previous year I did that, it worked. But no, because he wants to charge me. So, I told him, I'm not paying you the second time. And he did he did it again thinking that somehow it's going to work. And I have a freaking I water every day. I have a water thing in my lawn.

27:21 Sprinkler system doesn't work. And every time he comes by and just like pulls up some weeds and charge me like $500. I'm like, "No, I'm not going to be doing that." Right? We just got in an argument. Like I I couldn't stand it. So now I got someone new. You should get a farm and ride a John Deere. That that when I retire for sure. That's just one of my things I want to do is get a big piece of land out in nowhere and uh and do that.

28:15 Is there a new salon this time around? Yeah, it's Clash. It's Clash. Uh, outside of Clash, maybe like it would still be like Suie or Near. I think I like Suie a lot. I think Near has a lot of momentum right now. I think they're seen as AI play. I'm not quite sure they are, but there's definitely AI features within um but yeah, sui or near and clash.

29:04 Matt Hatter that that's how I I I agree with that 100%. And I can't stand people that that have like, you know, a business and you're trying to give them money and they're so irresponsible with how they handle clients that that nothing ever happens. This happens a lot with electricians, painters, you know, fencing people, whatever, right? During summer, you need something.

29:40 They totally blow you off, right? You're ready to give them money for service. Even if they charge a little bit more, you you wouldn't even care because you want them to do something. But no, no. They're sitting on their high horses because they're like, "Oh, I got 10 jobs. I don't need to answer you." And then winter comes and then they all come begging like, "Hey, did you need me for something?

30:04 F you." Okay, you lost your chance. Like I I never understood like small business like that, labor businesses like that, right? Take a name down, call them back, say you're busy, right? But no, they're they're just too incompetent. And then then and then and then they lose so much business that way. Yeah. It's uh it's mindboggling how how often that happens.

30:57 This is why Elon's robots are going to take over probably. You get a robot to do basic anything for you and then uh you don't have to worry about labor jobs anymore. Flavio, are you are you a business owner? Are you talking about people you deal with? I can't tell. Sounds like maybe you have some workers. I would definitely get a robot if it's cheap enough.

31:39 I'm assuming these Optimus Optimus robots, like the very first ones, I would I would picture he'd probably go sell it for like five grand. Maybe that's too cheap. Maybe it's going to be like 10 grand because like a high-end robot vacuum is already like a grand. So five grand is probably too cheap. Probably Optimus is going to be at least 10 grand. And I would buy it if it's good.

32:05 But I I'm assuming the first optimist is gonna be really stupid. It's gonna be really slow. It can't really pick up stuff well. It can't do anything well. But if it can do everything well, you know, then I I would consider it. But I don't think so. I I think the first few versions of Optimus are going to be really stupid, but then like by the Optimus V2 or V3, then they'll move like really well.

32:34 I don't know. It's kind of like the Tesla cars with FSD, right? The first the first ones with FSD was like kind of cool, but really really shitty. Now FSD is perfected after how many revisions? Ah, Favio. Okay. So, you know, you know way more than me. You know how it's like. What's up with the car videos? Is they ever coming back? Hey, Josh from my team and Steve, they're still posting on Drivers Only all the time.

33:30 I'm just not reviewing, but the channel is still going and the channel and the videos have been good. It has become better. Josh is like an expert at car reviews now. So, if you like cars, go watch them. I don't have time for that anymore. Okay. 842. Nice. hire a butler or similar that takes their headache related to this jobs. I'm just not quite rich enough yet if I'm being honest.

34:26 Maybe after this bull run then I can have a permanent like butler slash housekeeper slashguarder. Someone that could do everything slash like cook. I mean technically I can afford it but I just think it's too expensive. I don't I don't need it right now. Um maybe maybe if you know Clash takes off to a billion and I'm flying around the world in my private jet then maybe maybe then they could like wash my cars for me just like collecting dust in a in a garage.

35:11 Um, when you're building your house, you said you had trouble with the builder and someone trying to advise you to take care. No, I mean this the house is fine. I've been here for three years, so it's fine. Nothing nothing needed. versus why would I use CWD? Why would I enable it for predictions? CWD is for Clash World. It even says it in the game. So, why would I enable it on Clash Pics?

35:55 That makes no sense. in Discord last night. All right, like I gotta say most people have horrible ideas, but in Discord last night just talking about Clash Pic uh Clashpad with the community and try to find ways to generate more volume. And what we really need on Clashpad is more like influencers that will create their own coin. That's how you get the maximum value.

36:22 But, you know, there's a lot of ideas thrown out there. Um, here's the easiest thing. A lot of you guys are Clash fans and you're giving out a lot of ideas. Most of them, to be honest, are horrible. Um, but here's the thing. Think about why you're not doing something, and that's probably the reason why others aren't. So, try to solve that. So, if you're not on Clash Pix already, then don't try to make suggestions about Clash Pix because you're not on it already.

36:54 And if you're on Clashpad and you're like wondering why is others not buying what I created or some of these others, just think about it. It's because people want momentum. People want to see pumps, right? People are always looking at FOMO. So, how do I solve that? That's what I do every day. When I create something for Clash, when I create something, I think about the bigger picture, not individual self-interests or self like little things, which a lot of people do.

37:24 Um, think about the bigger picture and if you really have good ideas, then share it. I love to hear it. Love to like take it and and improve things. Um, but just think about that. What I really want to do is because I I think I'm the only person in the industry that has the advantage of multiple platforms and we can do creative stuff together. What I really want to do is to integrate prediction market into Clashpad, right?

38:08 And I can easily do that. The problem is I can't solve the um the problem with events that can be gamed or manipulated. But if I can solve that, that would be big. And no one else will be able to do that because no one else has their own prediction marketplace. Um so I've been trying to think about good ways to to integrate the two. But Clashpad right now is doing excellent.

38:33 We're giving out a lot of rewards to people. It's a different system. Yes, there's a lot of launchpads. Some are giving like rewards in like tokens and uh stocks and stuff, but ultimately I think people just care about getting rewarded for holding and something that people know which is soul and not some randomized stock. But uh we just need more in influencers or people with audience to launch their own and get their audience to hook hooked.

39:07 I think that's what we need more of right now. Do you think H&T has a future even though they shifted business plans? I don't know what what they shifted in. I know they came out of Helis Mobile or Helium mobile. They still had their 5G. I don't think they shifted their business plan at all. Recently, I covered H&T, how some city adopted them for their 5G network or something or a Wi-Fi network.

40:09 Yeah, I forgot. But it wasn't too long ago. Coming from the heart doesn't mean it's a good idea. Just just saying. Doesn't mean that it's malicious. Doesn't mean that they don't care about the project. And I appreciate everyone in Discord, but doesn't mean that they're good ideas. And a lot of those ideas now are serving self-interest. And that's a problem, too.

40:55 Well, I see any partnership or Clash Project. I'm always open to partnerships. None of them really make any sense though. But now that we're earning a little money, we have a flywheel effect for Clash. But we're earning a little money because of Clashpad. Maybe we can get some other doing some marketing, paid ads or getting other influencers to talk about it because we honestly have the greatest products.

41:24 Like we're not doing anything fishy or malicious or rugs like all these other guys. So, we're doing it right. It's just more people need to know about it. an go's up 16% quant 11% and I'm not going to talk about the first one but good for them ando is probably up because of all the tokenization talk from the CFTC See? Um, so that's their wheelhouse.

42:24 Unfortunately, the the founder of Ando died, you know, a few months ago, but the project lives on. Black Rogers just partnered with Nando to launch tokenized investment portfolios. Announced him as that makes a lot of sense. But I thought they were doing that already. I think Black Rockck was tokenizing a whole bunch of stocks already on. But I do think they're they're like the leader in this space for sure.

43:26 All right, guys. I'll let you guys go. Well, we recovered above 84K, which is good. And uh you know this is despite well soul or wait why is not reloading. There we go. Sold back above 115 which is good. I mean right now we got some we got some yield issues yield FUD. um that's not going to go away anytime soon. The war FUD, oil and inflation FUD, a lot of these things are going to be ongoing for quite some time, right?

44:22 And the Fed and everyone else is trying to bandaid the situation, but you know, it's not going to get solved. That's why you got to hold hard assets like Bitcoin or ETH or Soul or Clash. That's how you build wealth and protect your buying power. All right, so smash a like, subscribe to the channel, go check out Clash, Clash Project, Clash Pics, Clash Pad. Go earn some soul. and I'll see you guys later. All right.