Bitcoin Faces Oil and a Bond Selloff Transcript, AI Summary & Key Points

00:02 Welcome back. The cryptos are us. I'm George. We're all George. Welcome to another market open stream. Unfortunately, today we're looking red. There is a sell-off. Oil and bonds not doing so well. So, let's talk about what's going on. Why Bitcoin dipped slightly and what you should do about it. All right, let's do it, guys. Let's do it. Welcome, welcome, welcome.

00:44 We are starting out right under 83, right around 824. So, not too bad. I mean, actually roughly exactly the same point as yesterday. maybe slightly lower, but the alts look like they're exactly the same as yesterday. Obviously, not above 87, but we're still going sideways, still trending sideways. We're down slightly. And uh this is what it's looking like right now, right?

01:15 Just slight. If you look at last seven days, yeah, like Bitcoin hardly moved last seven days. See, this puts things in perspective. Okay, if you're worried, you go back a week, we're down less than 2%. Now, some of the alts like ETH and XRP and sold down a little bit more. Okay, but you expand your time horizon to 30 days and look, it's quite healthy, quite green.

01:45 So, not all is lost. It's not that scary. So to put things in perspective, but today we are opening up in the red. Dow, NASDAQ, S&P, all red following yesterday. Yesterday was pretty red, too. And two reasons. Well, we had the Fed minutes come out yesterday. No biggie. Not Not a surprise. But we already know that the Fed and Worsh announced that they want one more rate hike, right?

02:23 So that's basically what it said. There's going to be one more rate hike. Okay. Um so that there's only two more FOMC meetings. There's one later this month and then one in December. Right. So right now still despite everything 81% chance there's not going to be a rate hike this month unless something very very very very dramatic happens that's not going to change and then most likely we will get that in December that's what the Fed minutes say hey who knows it may change maybe we don't get a rate hike at all this year

02:58 who knows so that's what happened but also this is happening Trump says he doesn't want a deal anymore as he's preparing for massive bombings. So, you know, is this another negotiating tactic or I I don't know. Right. So this has markets spooked because obviously a long a prolonged war is going to cause inflation. Oil will go up and it is. Oil is rallying.

03:46 That's not one that we want to rally, right? We want assets to rally. We want Bitcoin to rally. We want stocks to rally. We don't actually want oil to rally, but that's what's happening right now. That causes high inflation. And plus, we have high bond rates, which is no good. Again, something that you something else you don't want to rally is bond rates.

04:09 That That's bad. When oil bonds both go up is no good, right? So, inflation bears are rising once again. That's what's causing the tension right now. what's causing the the the FUD right now, right? But if you look at it, despite all this, it looks like we're not going to get a rate hike this month. Bitcoin is still going sideways and really haven't moved if you go back a week.

04:44 So, despite all the scariness, it's not that scary. Now, it can get scary again, but we are on the uprise. And I don't think that's going to change. We'll see. We'll see. Yesterday was not a good day for for ETFs. We had a pretty big almost 500 million outflow. So, obviously, you do have some investors that's scared. They haven't seen it. But that that's that's that's a lie because obviously they have seen it.

05:26 We just we just saw it. We had a sixmon period of downs and outflows. So obviously uh there are some people that just ignore that and they're just falling for emotions, right? So yeah, yesterday is not good. uh minus 160 million for ETH, minus 5 million for soul, minus0 for XRP. Okay, but overall let's not forget uh last 30 days plus 3.62 billion. Last 90 days, 6.14 billion.

06:04 We came back strong. All the ETFs that left for Bitcoin ETH sold that left during crypto winter came back already. So think about that. So liquidity definitely is coming back. But you're going to have days like yesterday and possibly today where Wall Street and funds or whatever, they get scared, they react, and then they sell off along with everyone else.

06:35 Right? It happens all the time. And this unfortunately happens all the time. Yesterday we had like almost a $500 million wrecked day. Today pretty close $413 million wrecked. Mostly on the long side. Again, too much leverage going on. From yesterday, Bitcoin didn't even fall more than 2%. So for another 400 million to be liquidated, I mean, just think about think about it.

07:04 That means most people that got liquidated are playing with like a 40x 50x leverage or above. It's quite insane. And this doesn't help things. If we didn't have all these liquidations, I bet we hardly move. I I mean, really, what keeps us in range normally, I think it's just all the liquidations that that happen and all the levels that we see. And we tend to see them go up and down.

07:34 The market makers move things to liquidate people. They know where all the liquidation levels are and they have the firepower to make it happen. Unfortunately, yeah, we had a big big liquidation day once again and the day just started. Yep. Yep. Yep. Unfortunately, yeah, it kind of puts a damper to our to our inflows to all the money coming in, right?

08:08 But this is what happens. It always happens. All of you guys have been through enough cycles, even this cycle, to know that we have up and downs. We always do. It's nothing new. Just don't fall for the same traps over and over and over again. Same thing, right? One of the traps that people always fall for with liquidation is when when we start rallying, hey, start throwing that long on all your favorite assets.

08:34 Let's just throw 10x 20x trying to make things back really fast. That that's one of the biggest mistakes. Um because you have days like this where you get wiped out if you play with like a 20x leverage, right? So bottom line, hold DCA, ignore the FUD. Don't make any sudden moves if you don't have to. Uh this is saying that yeah, we're definitely shifting in uptrend.

09:10 There's no doubt about it. No doubt about it. Just like back in 2022, okay, when the profit and loss percentages crossed, that's bottom. That's crypto winter bottom. And after they crossed back up above, that was the end of crypto winter. Just like now we kind of crossed paths a little bit back in June, July and then we deviated when August September rolled around.

09:47 So that was our bottom for our crypto winter. No doubt about it in case any of you guys are still doubting that. Yeah. And like I said, we're just going sideways right now. We're going sideways. Obviously, the resistance is 87K. We have not been able to break that afterwards. 90K, 93K. There's a lot of lot of resistance levels. So, just got to have patience.

10:26 October is not over until it's over. I've always said that. last few years, same thing. I think last year was the year where like the first two weeks was actually pretty bad and then and then it got really good. I don't know. It could be a repeat or maybe I'm thinking about the year before, but I'm pretty sure it was last year. So, we will see. Outside of that, I saw this.

10:53 This is actually pretty big. Samsung is partnering up with Salana. So now Samsung wallet will natively support USDC on Salana beginning the last week of this month. That's pretty big. Pretty big indeed. And I saw this. This is nothing to do with crypto, but in case you're wondering about Samsung, they just reported a record profit of 80 billion dollar in a single freaking quarter.

11:35 I saw this. I'm like, that has to be one of the biggest quarterly reports ever in history for any company. So, in case some of you guys are wondering, oh, is the AI hype going to die down or is the bubble going to pop, right? Maybe from valuation levels, yes. From P ratio, maybe some of these stocks, yes. but still seems quite low. But from from a revenue standpoint, from a profit standpoint, these guys are making money handover fist.

12:14 Okay, Samsung's one of the largest chip makers, one of the largest memory makers, and they are rake it in right now. $80 billion in three months. That's insane. and think about all the Android phones out there and stuff like that. But anyways, all that will have USDC support inside their wallet which is absolutely fantastic. All right, what else is there?

12:47 Uh, I saw this standard chart to expand institutional crypto. RWA standard chart very bullish on crypto bitcoin all around token 2049 just ended in Singapore. Uh, I don't know how it is. If any of you guys are there, I just know it's it's way too humid and hot there for me. I intended one more one year. I'm like, ah, that that's good enough for me. And plus, the flight is just horrendous for me.

13:19 It's like a 24-hour flight. Um, and then lastly, I saw this. This is this is a surprise. Ripple ends XRP killer myth via canon network support. They're integrating Canon network to secure W wall street's RWA pipeline. Interesting. Interesting. So, it's not just not just supporting their own XRP ledger. Now, they're supporting other networks, too. That's quite interesting.

13:58 I think it's good strategy. Ripple technically, if you ask Brad Garlinghouse, technically does not own XRP ledger. Technically, XRP ledger is his own network. controlled by the validators or the nodes. I don't know what what Ripple network I mean XRP ledger network actually calls them but but if you look deeper who's paying for all the development cost right who owns the most XRP running on a network it's all Ripple so even though it's an independent network it's really controlled by Ripple um but interesting to see

14:48 that they're supporting other networks as as well. So, it makes sense if you want to get into RWA game tokenization, you want to cozy up with some of these big institutions. You got to do what you got to do, right? All right, that's pretty much it. Today is still still red. Doesn't look like it's going to improve much. We're down a little bit more, $500 more since the beginning, but overall we're down only 1.5%.

15:24 But still, alts are down a little more. And I'm looking at my watch list. Almost everything's down. It's kind of frustrating. You know, you have you have you have some good weeks and all of a sudden we stop because all this macro stuff, right? Uh outside of that, Clashpad still going higher. Almost a hundred more soul from yesterday. Rewarded out to holders, right?

16:03 And CWD actually did not go down. Actually, I think we went up from yesterday. So that that shows you the strength of the people that are holding it. But you know, we got we got new projects. We got a new one that graduated, Malfoy. I don't know who they are. And we got a lot of ones waiting to be graduated. And the Discord community is still popping.

16:30 And you know, CWD looks kind of lonely over here under the official tab. Uh there will be some more major announcements that will be going Discord later this afternoon slash tonight. So in case you guys are wondering there will be more. I was trying to do something yesterday. I couldn't then ran out of time. Today I will be ready. All right let's do some Q&A.

17:40 How does the DJ jump pot payout work? Well, you it it's locked in escrow, but you could take it out any time, but there's just a severe penalty when you do that. So, it prevents people from dumping right away. And if people do, then there's more rewards to others. I mean, the reward system really works. I mean, we have paid out so much in such a short amount of time.

18:03 But, you know, just to go just to show you guys how well the reward system works. You have something that hasn't even graduated yet. Okay? Something that only has a 3.4K market cap, which is next to nothing. This one probably only has like 10 holders, maybe. Maybe not even that, but already paid out 1.55 sold as rewards. Like, just think about that, right?

18:32 You have a project, you launched, you're waiting for more people to come in and you're already getting rewarded in a soul. And why is that? Because people don't realize whenever you launch, there's very sophisticated and a lot of bots. There's these bot networks that's programmed by scalpers. They look at all tokens that gets created. They instantly buy in because they don't care.

19:01 They don't know which one is going to go up, which one's going to take off. They'll just start buying them and start trading them regardless of what they are, who started it, whatever, right? and they'll just start scalping. They'll just scalp and then they'll trade scalp trade and then take advantage of the slippage and all that stuff and we punish them for that.

19:27 You know, that's why all of ours have a fee. We punish them for it. We capture the rewards and we give it out to holders. That's why it's different. That's why it's actually made for buying and holding even though it's very against like memecoin traders. Um, but you know, I'm trying to do something different. I think it's working. I think it's catching on.

19:49 We just need more more people with larger audience to come on board. That's kind of the bottom line, but we'll see. We don't really need it. I mean, we have CWD that it's around 2 million and it's given out over $100,000 in soul rewards in less than three weeks. That's crazy. And the game isn't out yet, but I'll tell you, the game is going to be amazing.

20:19 The game is going to be amazing. It's gonna be It's going to be shockingly good. Amazing. And it's going to turn people's heads when it comes out. Oh, we're back above 82. What's the cost of launching new coin? Almost nothing. It's just whatever fees the contract fee is required to open up a coin, which is like I don't know, a few dollars. That's it.

21:05 and whatever your first buy is, you know, is AI breaking crypto encryption or attempt to add FUD. I mean, not encryption, but it'll find vulnerabilities. All these hacks that you've been hearing about all through AI. AI is going to change the software industry. It's going to change everything. anything that has code it will change. So, you know, companies and people just have to realize that.

21:35 I spent all the time developing, but I spent all the time hardening, you know, the sites that we have, you know, I I always run security vulnerabilities, uh, or security checks and stuff like that randomly, code checks randomly, stuff like that, right? And with every AI model that comes out, they'll find more because they're smarter. And that's what you got to do.

22:01 All these guys that have a ton of money held right like in a bridge or wallet or somewhere. They they all need to like do more and even offer like um bounties and stuff. I don't think enough companies do that. Uh Roman says, "Check out tangibles game that actually pays you to play tied with cards." We had we had cry some very famous crypto games like that before that normally doesn't that normally doesn't do well because it's infinite inflation, right?

22:50 I am going to do something different with frontline. I'm upgrading that as well. It's been operational. We're having tournaments already, but I will be doing something differently with it. So, stay tuned for that as well. Uh, but since you asked so nicely with this super chat, let's see. It doesn't show up. Is it a new to open screener. Yeah, tank doesn't show up in token screener or market cap.

23:39 So, I don't know where where to find that. pays you with Pokemon cards. Someone mentioned that the other day. I didn't I didn't hear about it. I don't know about it. This drop is good. It gives room for another movement, setting the stage for October. The best way to think about it is clearing out clearing out liquidity. Okay, that's usually what happens before a big run up.

24:49 Just look at all the liquidations between the two days. Probably a billion plus. clearing out liquidity, getting people to sell off, and then boom, that's when you recover, right? And we're not really down. We're down slightly from our top, but overall, you know, we've been hovering in the 80s for what, a month now? What's another few weeks to wait?

25:34 this war situation, you know, if if we didn't have where it was over already. I think it would have helped markets a lot more. But maybe there's some 40 chess being played. Still there's a lot of theories of why this is happening, why it's ongoing, you know. So hopefully the 40 chest thing is real. You can't look at it like that, man. You can't look at it.

26:30 It's never so one-sided. People that are saying, "No, no, it's not 40 chess. He's an idiot." Well, what about everyone else behind the scenes? Not everyone is an idiot. And you certainly can't be an idiot to get elected. No matter what, there's some genius to that. If it was that easy to become president, everyone would become president. So, it's never so one-sided.

27:00 And people don't really see how the oil trade is being affected and how affects the oil supply chain, especially to nations that are considered not our allies or even our allies, right? There are a lot of things going on. It's never onesided. So, just try to think about that. You know, there's a lot of talk about China, right? Where does China get all their oil from?

27:33 They get 80% of their oil from the Middle East region, which is now cut off. Are you going to say that's just an accident? Was that all unplanned? It just so happens that we China's energy dependence right at the time where there's a possibility of maybe them wanting to take over Taiwan or maybe them trying to accelerate in the AI industry, right? Is it all a coincidence?

28:07 There are no coincidences. It doesn't happen. So, just think about that, okay? Short-term pain could equal long-term gain. You just have to broaden your horizons. It just sucks during that short-term pain. I mean, there's no doubt about it. Just like when you're working out, who likes to be tired after working out? Who wants days of soreness? Nobody.

28:40 Unless you're a psycho and you enjoy that pain kind of. uh sometimes I do but the reward is afterwards. So again don't be so shortsighted. Is there a delay on Clashpad on the buy and sell orders versus the reward? Seems like it started this past week after you change the ability to reinvest. No. No. I mean, it it could only sell so much within an hour, so it staggers.

29:43 Okay, so that's what happens. Reinvest makes it so that it sells less. In case you haven't figured that out, everyone that's holding on to a coin in Clashbad should just reenable auto invest because it's it skips one cycle of selling. So rather than convert what you're getting into soul, which then it rewards you, which you use then to go buy it again, it skips that cycle.

30:11 It just gives it to you. So yeah, in case you haven't turned on auto invest in in the coins that you hold and you want to get more of, you should Legend Alley, I love Clashpad. I'm getting paid almost three times per day. I'm telling you, some people get paid like every hour. This just depends on how much you hold. I mean, it's it's really a a really good system.

31:16 I wouldn't say it's perfect, but it's a really good system. And this is just like still us at the beginning stages where it's we don't have a lot of volume. If we 10x our volume, the rewards are going to be insane. And the flywheel effect for Clash is going to be insane. It's already insane. already purchased more than three million Clash, but man, if the volume increases by 10x, 100x, it's it's you go see this number at like 50,000 soul, 100,000 soul.

31:50 Like, it's it's going to be absolutely insane. It's probably going to cause soul to go up like that. That's probably what's going to happen. It's going to cause so much demand that it'll pump soul if we ever get that kind of volume. But, you know, we'll see. It's early. would love to see more more creators come on board. Still seems very taboo like everyone I talk to, right?

32:44 Nah, I don't want to do I'm afraid and this and that. I I mean there's too many people that have to have this like negative stigma because they hear about others that have done it that completely give up on their projects and you know and that's why there's that there's too many ruggers, too many that don't care about anyone, right? But if you do it right, you could sustain a project and a loyal base and and you know, you just keep moving forward with it.

33:14 But it seems like most people think that that's too much trouble or time or they don't even think it's worth it. But, you know, trying to change that perspect uh perspective, but it's it's tough. It's tough. Uh yeah, the LC500 has been going up. You know, I was surprised. I was looking at a used car market I looked at the other day and it's actually what I paid for.

33:43 So, that's good. Normally I lose massive amount of money on all my cars. So, um, so it's good to see that it's holding. I like the car. It looks gorgeous. I don't drive it nearly as enough. You know, here's a fun fact that it's harder to get in and the interior space is smaller than my Ferrari. I just realized that. Um, my Ferrari is actually huge on the inside compared to LC500.

34:21 I don't know why that is, but it it's way wider. It's way I don't know if it's way longer, but it feels like you have more leg room and it's just it's just it's huge inside my F8. And Ferrari is like really tight. Like everything is really tight on the inside. You can't be a big guy and fit in the LC500. It it will not be comfortable. We're only down 1% from yesterday.

35:02 Just one. All right, guys. I think that's pretty much it. I'll go go back to work. Working on a lot of stuff right now. I'm always working on a lot of stuff. But stay tuned. I will have something for those of you guys in Discord, something big later this afternoon slash tonight. So, look forward to that. Okay, that's my that's my warning to you guys.

36:10 So, don't say you didn't hear it. Um, and uh stay strong, my friends. All right. It's not as bad as it seems, but we are facing oil rally, bond rally. These are no good. No good. But Bitcoin is recovering and will continue. But got to get over some of these headwinds and tailwinds that I always talk about. All right, have a good one. Smash a like, subscribe to the channel, go check out Clashpad, check out all the things that we have to offer.