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Hey everyone, welcome into the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. I'm your host Tony Edward, on your way in, please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five star rating and review.
Alright folks, we of course have to start with the price because Bitcoin today actually went lower than its low it set in February right after the major dump that we saw down from December into January and February. But guys, if you look at the RSI and the daily chart, this is just the metrics. This is by the textbook now.
It's not my feelings or emotions. This thing is so oversold. In fact, it is more red than what we saw in February. I remember what the sentiment was in February. So it is brutal out there folks. The sentiment is an extreme fear. The MVRV is showing that the 30-day traders, they are underwater big time.
It's coming to levels that we saw in February. Now February did have a deeper hole, but man, it is so bad out there, so bloody. But this is where I get bullish because I want to do the opposite of the herd. And then when we talk about the herd, guys, Jim Kramer is out there on TV and on X saying who murdered Bitcoin, Michael Saylor murdered Bitcoin.
Those are the exact words he's using. So he's putting that narrative out there on multiple fronts on TV, on social media. And that is a big contrarian signal, right? This is where we want to be bullish guys. And in fact, I'm buying, I'm buying Bitcoin, even if it's just to swing trade it, because I don't think the move that's coming next, which I think it's going to be a strong one because it's so oversold, it's so bloody out there.
And I don't think it's a move to do all time highs. I think it's the same type of setup relief rally, right? Because we're still in that four year cycle. Until the market shows us that it's going to break that, we have to stick to that thesis. But I think a strong reversal is coming and I think all coins are going to follow.
Now are there any guarantees here, uncertainties? Of course not. We're talking probabilities, but we can at least go off the data and the metrics. And I think many of you who know the RSI and that's a strong signal that we have to look at. We have to look at sentiment and all these things are lining up where the herd, the crowd is bearish.
They feel it's over for Bitcoin and crypto. And look at this, Dave Portnoy, who we know comes in and out of crypto. I don't take financial advice from Dave Portnoy, but obviously I look at people of his caliber which have huge followings. He has 3.8 million followers on X and he's well known on social media, right?
So he says Bitcoin and crypto are making me sad. So we're seeing capitulation. We're seeing fear. We're seeing people giving up. We're seeing Kramer put out the worst narrative out there. Bitcoin has been murdered by Michael Saylor and MicroStrategy and my OG subscribers and listeners. Even those of you who you just started listening to me, but you've been in markets for a while.
Guys, this is so bullish. I know some of you are going to say, Tony, what are you smoking? Give me some of that. But I'm telling you, I've seen this many times before, been here since 2016. It's the same story and over and over and over once the herd gets fearful, that's a time to turn bullish. And like I said, I am buying the dip here.
Now that's not financial advice, obviously do your own research, but I hope you understand the market principles. Even Warren Buffett said, when others are greedy, you want to be fearful. When others are fearful, meaning the crowd is fearful. That's when you want to be greedy. So I'm getting greedy right now.
And yes, I have to be patient. Yes, I have to have the macro view, but I'm going to look to do a swing trade here for Bitcoin and some of these altcoins, buy the dip, sell the rip. Now here's something that I did not have in my 2026 bingo card. Former president Joe Biden's son, Hunter Biden, says Fiat is a sham.
The banking class is corrupt. Decentralized digital currency and blockchain are the inevitable future. I did not expect this to come from Hunter Biden. It's so funny. But again, I don't take financial advice from these guys, right? But it's so interesting to see people from all walks of life are recognizing crypto and blockchain technology.
Now, folks, look at this news. Jamie Dimon and the banks are fighting hard. So J.P. Morgan, Citibank and major U.S. banks to launch a new tokenized deposit system to compete with crypto. Now, this is why Jamie Dimon is fighting stablecoin yield so much. He's fighting the Clarity Act. Just recently, I played the clip for you guys where he was interviewed on Fox Business.
He was so angry saying, Brian Armstrong, CEO of Coinbase is fully shit. And we're going to block the Clarity Act, right, because they're getting disrupted. And, you know, we often talk about the saying of first, they ignore you, then they laugh at you, then they fight you and then you win. So I think we're transitioning from the then they fight you to then you win phase.
But clearly, Jamie Dimon and the banks, they're not going down without a fight. So they're going to lobby hard when it comes to the midterm elections to try to get as many senators not to vote for the Clarity Act. So we've got a battle on our hands. But clearly, this technology is the future. Jamie's saying, hey, guys, all the banks we need to come together, we need to build our own blockchain system because we've got to compete because the technology is legitimate.
Now, to some people, this is all a fad. This is a Ponzi scheme. This is magic Internet money. They haven't educated themselves. They haven't taken the time to read through what's happening here. But the banks know that's why they're fighting. If this was some scam and just something that's not relevant, that's not disrupting them, they wouldn't care.
Do you think they would care? They would just whatever. Who cares about these guys? We're going to continue. But they know disruptions at their doorstep. So the Wall Street Journal put an article out about this. And, you know, again, the headline is JP Morgan City and Big Banks plan new tokenized deposit system to answer crypto.
The new network would help banks to contend with a wave of new competition from stable coins and crypto firms. We are on the right side of history. If you are here now, you are still early, guys, because the banks are still trying to fight. So incredible what's happening. This is validation, 100 percent validation of this technology and the direction of where we're headed.
And look, Jamie even has his media partners putting out information that JP Morgan says the crypto bill may not only have a narrow window for a passage this year. So we've seen his statements. Now he's trying to do the media blitz, right, to say, see, it's not going to pass. Don't worry about it, blah, blah, blah, while he's trying to build his own thing with the banks.
It's it's pathetic. But, hey, what can you expect? Right. These bankers, like I've been saying, they don't want to give up those year end bonuses. They want to keep those big, big fat checks while they continue to give you breadcrumbs. 0.01 percent of interest. Right. They park your deposits, your money at the Fed.
They earn up to four percent and they give you zero point one zero one percent. So that's what's happening here, folks. Quick word from our sponsor. This episode is brought to you by BitGo, the trusted infrastructure behind the digital asset economy. If you're serious about crypto, whether you're an investor, institution or building in this space, you already know security, compliance and execution are everything.
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So whether you're scaling a fintech, managing a fund or building the future of finance, BitGo gives you all the tools that you need to do this securely, compliantly and at scale. So learn more at BitGo.com and see why the biggest players in crypto trust BitGo. OK, moving ahead, Morgan Stanley Wealth Management partners with Galaxy Digital, letting eligible clients lend crypto assets at Galaxy and receive spot crypto ETP shares in return, cutting onboarding times by up to 75 percent and lowering the transaction minimum from twenty five million to five million dollars.
So you can see these big trad five firms. They want to offer crypto and they're partnering with crypto native firms and crypto hedge funds and much more. Galaxy has been around for a long time. That's Mike Novogratz's firm. They've been here since 2016, 2017 investing in crypto. And now look at these big Wall Street banks and firms partnering with these folks.
Right. And we know, for example, Coinbase, they support BlackRock and Citibank and JP Morgan and much more with crypto services. Morgan Stanley also launched in kind creations for its spot Bitcoin ETF. This is huge, which means they actually have to hold the physical Bitcoin. If you recall, BlackRock set the standard with this as far as trad fi institutions.
So this is really, really great. And more news around big banks on Wall Street. Goldman Sachs teams up with Apex, our checks for tokenized real estate fund. So, guys, when I've been telling you for years, all the assets are going on chain. That was not that was not hyperbole. It was not a joke. This is the future.
They're going to put all assets on chain to run 24 seven to bring in liquidity from across the globe to put assets that would sit idly in a vault or whatever to work. So this is where we're headed. The markets, the economies and governments all running on blockchain rails. And real estate is the world's largest asset class, of course.
So infrastructure provider Onera and the real estate investment manager, LRC Group are also included in the debut of the blockchain native real estate fund. The fund shares are tokenized using GSDAP, Goldman Sachs blockchain platform. Incredible what's being built here, folks. It's massive. So the fund combines blockchain native issuance with established fund structures, according to a press release, and is designed to enhance operational efficiency and transparency while enabling potential future transferability and maintaining robust governance and regulatory oversight.
Incredible what's being built. OK, moving ahead, ether dot fi allocates 100 million dollars to a plume RWA vault, giving users access to yield, so plume and ether dot fi have launched a new vault, a collaborative earn product that gives ether dot fi users access to real world asset yield plume said ether dot fi has allocated 100 million dollars to the vault.
The allocation comes from a mix of ether dot fi's liquidity provider base and manage capital from its existing liquidity vaults. Charles Mountain, head of ecosystem at ether dot fi told block. So, folks, despite the market conditions, we continue to see incredible building and development by native crypto firms like ether dot fi and the trad fi institution.
So they're not stopping because they're looking past the current market volatility and ebbs and flows. Now, by bit joins Western Union's U.S. DPT network as stablecoin expands distribution. Now, many of you may recall, I interviewed the head of digital assets at Western Union, we talked about their stablecoin, U.S.
DPT, which is built on Solana, and it looks like they're getting the partnerships now for the distribution of this stablecoin, because if you have a stablecoin and it's a public one, it's not, let's say, a private internal thing. You need a network of participants and people who will support that. Right.
That's how you get network effects and network adoption. So crypto exchange by bit has added support for Western Union's U.S. DPT stablecoin, a move that brings the payments giant's digital dollar onto a major crypto trading venue for the first time. So huge news here, folks. And, you know, just this past week, we talked about MoneyGram, Western Union's competitor, launching their stablecoin on the Stellar blockchain.
So it's MG USD. So all these folks integrating existing stablecoins are creating their own. So competition is heating up, which is really, really great. Now, final news item here, Mike Seelig, chair of the CFTC, posted a photo of him and Congressman Tom Emer, who's the GOP majority whip, and he said hard at work on Capitol Hill with Tom Emer to help get clarity across the line.
And deliver clear rules that unlock innovation, protect software developers and cement the U.S. as the crypto capital of the world. So let's hope we see some big movement for the clarity outcome maybe this week or the week after, because that would be ideal if we get positive news because the charts are lining up here.
Again, we are so oversold. I'm telling you our reversal is coming, a major one based on the textbook now. And if the narrative usually follows the price. So could we get some bullish news on the clarity act? Maybe the Bitcoin Reserve Bill digital asset stockpile. It's possible. Again, no guarantees, no certainty.
It's just probabilities. But, guys, I'm bullish. I'm bullish. A lot of people right now are going to hate on me and say, Tony, you are crazy. But, guys, this type of extreme oversold environment, this much fear, the fear and greed index right now is at a 12. Extreme fear. I love it. I love it because it's the herd that is feeling this way.
And I'm getting again, I'm buying the dip, not financial advice. I'm just telling what I'm doing. Some of it will go into the long term whole bag. Some of it is swing trading, you know, even if it goes up just 15 percent, 20 percent taking profits, right? So this is where I'll continue to update you guys in my newsletter.
So make sure you subscribe to the newsletter. It is 100 percent free. I'll be putting out a write up on Monday and it will be awesome if next week we see a major rally or reversal. Again, not to new to all time highs, right? Just a relief rally. Folks also support the podcast by checking out my book on Amazon.
It's available in paperback and digital. And check out my course at MyCryptoCourse.com. Right now we've got a huge sale. You can get a discount on the price of the course. 50 percent off by using the code BEAR, B-E-A-R at checkout. So go to MyCryptoCourse.com. All the links will be in the description.
Folks, thank you so much for tuning in. I appreciate you all and I'll talk to you all later.
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