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Tom Lee says, "Friday is a big day, a very important day, and we could see something pretty great for investors on Friday." I want to explain what that is. We also have Bitcoin falling down, Ethereum falling down. I want to explain why that's happening and whether it's something to be concerned about or whether it's a good buying opportunity.
Of course, I can't see the future. I'm not a financial adviser and what we are talking about is fairly risky in most people's eyes. So, do your own research. We'll also be going through some of the positives of what's happening today. Uh, if you don't mind though, hit subscribe so you can see future videos like this.
I will apologize too. I'm going to try to keep this nice and brief. I just filmed this whole video. I have somewhere to go, but the audio didn't record. So, re refilming it here. If you want to check out the Telegram, sometimes I post videos early there or exclusive videos. It's underneath the video.
It's completely free. If you want to trade, we are getting very close to some key support levels. I mean, look at this. The previous support level also coincides with the bottom of this channel. We could see a massive bounce if we continue to fall down. That is on Bitcoin. We also are getting very close to support levels on Ethereum.
The previous resistance looks like it's going to flip into support, which is extremely bullish. We'll talk more about this, but if you want to start trading, check out by DeFi. We're having this trading competition. Anyone that's ever signed up under my link gets access to this. And the more anyone trades, the bigger the prize pool gets.
And we're going to give out money at the end of this 20-day period. We constantly run promotions like this to give back. Um, and you can just get some free money. Of course, you can also trade on the platform to get huge returns because you can use leverage and you can actually trade crypto with crypto.
Like for example, you can trade Bitcoin with Bitcoin as collateral and you can get more Bitcoin. Same thing with Sooie, same thing with Salana, XRP, Ethereum, etc. So check this out underneath the video. Start today because we're seeing a nice pullback to get in. So what is happening? We're seeing liquidations.
We're seeing the people that are too aggressive. Of course, like I talk about leverage, it it's kind of like a car. If you use it uh carelessly, you can lose money. So, that is the risk. Uh we're seeing longs get liquidated today. Another $270 million worth of longs in the last 24 hours. Of course, this is resetting.
So, this is a chart showing the liquidations or what could be liquidated longs and shorts. This is resetting. So, there are a lot more uh potential liquidations if we move up than if we move down. On the 1day, the 7-day, and the 30-day, usually market makers and exchanges like to wipe out wherever there's the most leverage, and right now it is shorts.
You can see that over here, Binance is sending assets to Wintermute to liquidate long leverage traders. This constantly happens. So, you have to be careful when you are lever trading um that you're not someone that's just doing 100x mindlessly, right? Um, so right now we are seeing some liquidations.
We're also seeing some outflows. Yesterday, Ethereum had a $200 million outflow day of the ETFs. That's their second largest day. Bitcoin ETF saw $121 million of outflows. Keep in mind, it's not just that they're experiencing outflows, it's that they usually experience inflows. So, we're seeing like not only selling, we're also seeing a absence of buying from these big entities.
So, that's causing the market to go down. We're also seeing a lot of shorts pile up, not just on exchanges, but also on CME, which is the Chicago Merkantile Exchange. It's basically where hedge funds and other financial institutions used to hedge. So, they're not as aggressive. Maybe they're, you know, 2x uh leverage or something like that.
But Ethereum at all-time high short positions. So, if Ethereum rallies really hard, these could bleed. We've seen that in the past. Even if it's not quite as quickly as the exchanges uh that people use like 50x long positions, these will bleed over time if we continue to rally up. Tom Lee says, "Ethereum is undergoing a minor correction, pull back to 4,100 basically by midweek, which you know that's today.
We're midweek uh tomorrow I guess maybe. But I will be placing some long positions and some limit orders right around this level because I don't want to get too greedy. We've seen so many rejections right around 4,000 to 4,100. I think we could obviously see uh a flip from resistance to support and then continue rallying up when we see some positive news.
Of course, I wouldn't put your stop loss like right under this level because a lot of the time um we will see wicks down below to try to liquidate people. So, be careful of that. Um, of course, this is not financial advice. This is kind of riskier. There are buyers here today though. It's not just all sellers.
Sharpink Gaming bought another 143,000 Ethereum. David Bailey's company bought almost an equivalent US dollar amount of Bitcoin, 5,744 Bitcoin. Uh, so there are buyers. It's not just all bearish news. Uh, Bo Hines, who was on the crypto working group, I thought this would be interesting to show every uh, not everyone.
There were a lot of people that were pretty bearish on him leaving, saying that he's given up on crypto and that he sees that there's no point or something like that. And I said, "No, I think it's that he realizes he could make millions of dollars somewhere else with the connections he has and his knowledge." Sorry about that.
And what do you know? Now he's joining Tether. Uh so probably making millions of dollars there. The biggest stable coin issuer in the world. Obviously crypto um stable coins are going to be huge. The US is very bullish on them as well as it spreads dollar dominance. So congrats to him, right? That's that's pretty awesome.
Another positive, and we'll get into Tom Lee in a second, his bullish take on Friday. This is an anonymous anonymous crypto um person that that put in this uh this little story about how he's been able to make lots of money over the last year um or last two years. He says, "I kicked off the cycle in October 2023 with $4,000 and flipped into 500,000 by December 2024." So 4,000 into 500,000.
bought a house for my parents, paid my taxes, pulled some money out for non-crypto investments, and kept a chunk in stables, farming airdrops in yield. Where I live, I probably won't ever need to work again, and I'm set to live a life 99% of the people he knows or she knows will never be able to come close to tasting.
Life is good. So, I wouldn't suggest to try to necessarily 100x your portfolio. Usually, if you do something like this, you have to be really risky, and there are more people that lose the initial amount than make this amount. And most people will probably continue to try to gamble it and try to uh continue to flip this and eventually you lose.
And some people lose everything. So just be careful. This I think shows why you need to take profits. If you have lifech changing gains at all this cycle, take profits. But this is awesome. Congrats to this person. Tom Lee says he's in convos with institutional investors. Most expect fair uh Fed chair Powell to lean hawkish as he doesn't want to be cut uh cornered to cut because this is the base case.
Probabilities favor his statement to be viewed as dovish meaning stocks will likely rally Friday postjack hole. So he's basically saying everyone is bearish. Everyone thinks that dron Paul is going to be very hawkish. So even if he's just kind of middle of the road, it will be viewed as dovish which could cause a bit of a rally.
I like this take. I think it's probably pretty right on. The market obviously seems a little bit bearish. Even traditional markets like the NASDAQ are down 1.14%. This is with the Dow up. So, we're seeing a bit of a rotation to safety as people will call it. But, uh, yeah, this is interesting to see.
I I think we could see a rally. Obviously, there's going to be a lot of volatility and next week we have Nvidia earnings, too. So, be ready for uncertainty. Of course, if you want to start trading, like I said, I think they're really interesting setups if you want to go long this market. But of course, do your own research.
There are links to by defi underneath the video along with blow fin and btcc weeks and bitex. These are all exchanges I use. Check them out. I suggest using multiple exchanges. I'll see you in the next one.
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