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Hey everyone, glad you're back! With Bitcoin currently at almost $65,000, it looks like this correction zone has been overcome for now. Theoretically, new all-time highs are still potential price targets that could be reached soon. However, you always have to be prepared for sharp corrections and significant price movements in the crypto market.
That's why in today's video we're looking at the Bitcoin chart. What's happening globally right now? Where can we see volume, and where is something potentially positive developing for this year? We'll also look at the current ETF accumulation figures, where there's renewed buying activity for Bitcoin.
Furthermore, Jerome Paul has made a new statement about Bitcoin, attributing to it the power to remain stable, provided it's decentralized. Donald Trump and Jamie Diamond also made a great statement, which might change the minds of some of the pessimistic Bitcoin haters. It's certainly interesting to see what's going on.
And of course, ETF subscription figures – we're actually getting 10! Ethereum spot ETFs will be available online within the next week. This could, of course, be accompanied by huge expectations, potentially leading to a massive pump or even triggering a sell- off. I want to present my current thesis on this major event, where I fully expect very high volatility in the Ethereum price.
Accordingly, this video will cover the entire topic. We'll also discuss a few altcoin opportunities where there might be some potential gains compared to Bitcoin. Therefore, I'd like to invite you to join us as one of the first 19,000 subscribers to start the pull run with us. And above all, you're welcome to join our livestreams.
We're regularly live on this channel and discuss questions about potential altcoins and, of course, Bitcoin updates together. So, let's jump directly to the Bitcoin chart. Basically, consolidation is still ongoing, but with extremely high volatility and potential sell-offs. Germany Wallet, Mount Gox Wallet, potentially $16 billion that could return to the market from FTX, and of course, much more.
This could trigger more buying pressure than any of the largest wallets could actually sell off, and with potentially rising prices, we could actually break through our resistance lines, which have always served as sell-off points for whales, and expect a price target of over $80,000. The support from the ETFs is quite interesting here; the spot ETFs alone had over $1.6 billion in trading volume yesterday.
A lot in, a lot out, but overall there was still a net inflow. The same applies to the Hong Kong spot ETFs, which play a very small role here, but are still at old high levels in terms of purchased Bitcoins. In total, there was another total inflow of $53 million yesterday. That means the day before yesterday we had over 400 million Bitcoins, with almost $300 million in net inflow.
So overall, it fits, and ideally it stays that way. But we can already see a clear pattern: the spot ETFs, or rather the buyers of the Bitcoins through them, are... They are particularly active during corrections, buying at the low prices relative to the time high. In total, there's no need to discuss how incredibly expensive Bitcoin is, even at $55,000 or $60,000.
It's unbelievable how much is paid for a single Bitcoin, and it naturally requires enormous capital inflows to move Bitcoin to $70, $80, $90,000, or even $100,000. It's precisely for these capital inflows that we look at what the major wallets are doing, and it's all quite consistent. Of course, we may have had one or two downturns throughout the year, but BlackRock alone has been able to invest over $18 billion of client funds in Bitcoin, and those are, of course, very impressive figures.
Companies like Michael Sailer, or potentially the CEO of Dell, are also strong, as they have a lot of money invested in cryptocurrencies, especially Bitcoin. And just as Michael Sailer did, investing company reserves, the next company is now doing the same; they are buying as Strategic reserve asset: Bitcoin.
We've seen this, for example, with the stablecoin company USDT. They can invest billions of dollars a year in Bitcoin because their business model is so profitable and because they definitely want more Bitcoins in the crypto space. Now, the company with the most Bitcoin ATMs—a Bitcoin ATM provider—has also followed suit, shifting a portion of its cash reserves into Bitcoin as a strategic treasury asset.
This is fantastic! I believe this will happen even more frequently in the future, especially since we now have important figures who have spoken out clearly and positively about Bitcoin, including Jerome Paul, the chairman of the Federal Reserve. He's one of the most skeptical people, someone you ca n't easily influence, and who is primarily concerned with the stability of the dollar.
He's come forward and has mentioned several times that it looks like Bitcoin ca n't be eradicated; it has the power to stay. And now he has clearly confirmed this again: FET chair Paul says Bitcoin has staying power as an asset class. So even he has to acknowledge that you simply can't get rid of Bitcoin, not even in China.
Even where we have a complete ban on Bitcoin mining, a fifth of the total hashrate is still held by Bitcoin. Every fifth of mine is located in China, where it 's actually prohibited, and everyone in the world can use Bitcoin. Now it's being recognized that Bitcoin has the power to endure because, above all, you can't eliminate a central authority, and Bitcoin is completely decentralized.
This gives it a clear advantage over all altcoins. Another critic, Jamie Diamond, who has already said in interviews that he doesn't want to talk about Bitcoin at all, shouldn't even ask him any more questions. He considers it illegal activity and has absolutely nothing to do with an asset. Trump is now somehow classifying him as the Treasury Secretary, the person in charge of US reserves.
And yes, Jamie Diamond, from one of the world's largest asset managers, has definitely changed his opinion on Bitcoin. And yes, it will naturally become clear to what extent Bitcoin then has better chances than perhaps even finding a reserve somewhere for the dollar as a backup. America holds a not insignificant portion of Bitcoins and could, of course, It might be quite useful for supporting the dollar, but I wouldn't put it past America to squander the money on the arms industry somehow.
That would be a real misuse of the funds, and if they sell them, it's their own fault. But nobody's claiming that here; it's just that it could probably happen sometime. Nothing's been confirmed in that direction yet, and if it does happen, it would be absolutely, absolutely crazy. Ethereum itself is also going to be in the headlines again because next week we'll see ten new spot Ethereum ETFs.
And there's a very important question: what will Ethereum do? What will Bitcoin do? Above all, what will Ethereum do relative to Bitcoin's price? We're already in a downtrend that's been going on for years, where we've consistently underperformed Bitcoin's rise. Of course, Bitcoin has gained a huge lead.
Initially, it was just rumors, but then, due to real inflows, Bitcoin was able to perform incredibly well. And that's what might be possible for Ethereum now, perhaps with a lot of speculation and such. In other words, an actual... The price increase of the Loue ETF is now a very respectable 33%. If we take this a bit more dramatically, these figures – from the bottom of the correction to the peak – are almost doubled at 90%, which would be fantastic.
Naturally, if the market offers another such opportunity, one would want to be able to play with a bit of volatility and perhaps take advantage of the situation. Personally, I will provide an update on July 23rd, provided I can find my Ledger. I will try to sell a few percent, around 20%, of my Ethereum at the start of trading.
Unfortunately, we have already seen two sell-offs at an average price of just under $4,000, with drops of a staggering 20% to even 30%. I simply believe that a lot will happen here, and that one could potentially make many wrong decisions in the short term because, above all, the expectations are incredibly high.
Bitcoin has already provided the most successful commodity ETF, achieving the number one position in history. No other ETF in the world has seen more influence, more growth, or greater interest. And now, of course, another ETF is coming along... Expectations were often much higher than anyone had imagined, and I believe these expectations can hardly be met.
Two factors we've discussed in the videos are, firstly, the seeding round for Ethereum, which was only $10 million via BlackRock, compared to $ 200 million for Bitcoin. Secondly, the futures volume for Ethereum is always much, much weaker, even 90% weaker, than the Bitcoin futures ETF volume, which is already tradable for both Ethereum and Bitcoin.
We'll just have to wait and see. I think there will be a great surge around the 23rd. I can imagine it will then correct down significantly, and ideally, one would sell Ethereum high before this event and then perhaps buy Bitcoin more cheaply with the stablecoin. With the Ethereum funds and a correction, there might be a chance to buy a bit more Bitcoin.
That's my intended plan for how I might play it. Basically, with Ethereum entry prices below $1500 to $1200 from the bear market, I don't mind if I might lose a few Selling Ethereum with only 3x leverage is okay for me, and I definitely want to try it out. If you're still looking for a crypto exchange where you can trade long or short, I can definitely recommend Bitget or Levex.
There you can trade completely without KYC (Know Your Customer) verification, and they're currently running a new customer promotion. If you don't already have an account with Levex, you can create one using the link in the video description. For your first deposit, whether it's $100 or $5000, you get an equally sized free long or short trade.
In other words, you can trade Bitcoin or Ethereum with 50x leverage. This is, of course, a promotional offer for new customers, but I would definitely take advantage of it. You can always use up bonuses, and if you lose the trade, you haven't lost any real money. But if it works out with 50x leverage, you can make some really cool profits, and you can withdraw them 100%.
I would always take advantage of it. The link is at the bottom. Description and I say a big thank you for the support. Accordingly, my long positions are still around the break-even point. My long position on Bitcoin is still around the break-even point, meaning if volatility comes, we know exactly what to do.
In deeper correction areas, I'll buy more because I believe we'll see the Bitcoin bull run in an exceptionally positive way. And if we're already rising, we're already positioned. Then you have to be satisfied with what you have and will definitely be able to achieve great exit prices. Accordingly, a short sentence about altcoins: if it's already becoming bullish, what are the favorite coins?
Where do I see the most growth potential? And I'll be honest, I see the most growth potential because basically, with Bitcoin 2x long, you perform much better than most altcoins. If you really want to take risks here, I personally prefer memcoins, actually PE Bonk, and maybe one or two exotics can be mixed in.
But the performance coming out of corrections is especially strong. Otherwise, two niches will definitely be the Solana blockchain. Then, of course, we also have the Base blockchain, which is in the Upward momentum phases are always heavily hyped, and right now there's actually little talk about them.
For example, Solana, maybe one or two Dexcoins like Jupiter, perhaps you could also pick up the Memcoin Bonk. And I would definitely keep an eye on BASE, maybe with Memcoins, perhaps with Aerodrom Finance as an exchange. Another favorite that has always performed well, like Wied, are exchange-traded coins.
Binance Coin is already relatively high as a single price, but I still think there could be good performance. The BGB token would also be interesting, where there are of course rewards on top for the next launch pools/launch pads. You can always observe that when there are no current promotions, there's a slight downward trend.
As soon as a launch pad comes out, you get a 10-20% price gain. As soon as there 's nothing more, the price goes down. As soon as another launch pad comes out, the price pumps by 20-30%. And now we've had a relatively good correction, it's slipped below one dollar, and now it might be going... Next news, maybe we'll see prices rise to $5 in the bull run.
And to be fair, crypto exchanges are the most profitable companies in the entire market. Of course, Ethereum Foundation or Solana, as a complete blockchain package, generate or collect a lot of fees, but compared to other altcoins, centralized exchanges are the absolute winners in these markets and often have good coin performance.
Accordingly, that's my starting point: if it falls lower, I'll buy; if it pumps higher, then I'll definitely enjoy it. I've bought enough already, and as always, I wish you the best profits in this bull run. We'll definitely see each other in the next video, livestream, Telegram group, YouTube comments, or in the inner circle. Have a good one! Bye bye!
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