🚨BIG CRYPTO NEWS! COINBASE $1B NOTE, GRAYSCALE NEW BTC FUND, ELIZABETH WARREN PLANT VS JOHN DEATON

[Music] welcome to the thinking crypto podcast your home for cryptocurrency news and interviews if you are new here please hit that subscribe Button as well as a thumbs up button and leave a comment below if you're listening on a podcast platform such as Spotify or apple please leave a festar rating and review it supports the podcast and doesn't cost you anything well folks let's start by taking a look at the Bitcoin price currently sitting at $71,400 cooling down a little bit here on the daily

chart and that's normal that's okay Bitcoin did a big move huge candle breaking the old all-time high and Crossing $72,000 so we want to see uh some consolidation and building up support levels and strength and then we keep moving up higher now there is the possibility of us hitting some sort of local top I don't know what the local top will be but just be prepared for it it could be at 8 could be at 90 could be at 100K uh but you want to be prepared for something like that where it pulls back n

ow if you bought the lows like I did you know buying Bitcoin at $2,000 $3,000 even buying the December 2022 bottom at 16 17K and so forth you're not worried about this now if you're trying to enter the market now you may want to look for some sort of significant pullback before you take an entry and this way you can make some decent returns because Bitcoin of course is in phase two of the bull market it had a huge run up since last year we are in the next leg up and we could potentially see a bl

owoff top this year and we'll talk a bit more about that later but a great indicator to look at is the dxy the dollar currency index which continues to break downwards and as it keeps going down we can expect Bitcoin and other risk assets to continue to move up that is how the market Cycles work I don't make the rules those are just the facts so from a macro standpoint we are on track to make higher highs folks and possibly have that blowoff top this year here's Bob Lucas who's a great analyst h

e shared a chart showing three possible scenarios for Bitcoin he said Bitcoin is showing us a blowoff type fouryear cycle not a diminishing returns type also showing a left translated cycle top before December is real if this doesn't cool off unless we get a six-month consolidation uh with the 70 to 100K yellow zone uh so this is colorcoded for those of you listening on the audio uh to build into a super cycle sit tight so let me break that down a bit we could see a blowoff top this year as I st

ated my thesis for this in one of my newsletters and I'll probably do a video about it but because of the macro factors that rate Cuts may be coming later this year after the election and the markets are trying to front run that because historically if you look at the data there's been huge crashes at the ray Cuts because many times when they have to cut rates there's something breaking or has broken so this is where markets are maybe front running and there's a lot of liquidity still left back

from the pandemic era and and their markets are just ripping right now and of course Bitcoin is correlated with global liquidity and the stock market so we could see that blowoff top this year now that's not guaranteed um here Bob is also saying the other scenario we top out at some of these price points at uh you know 70 or somewhere between the 70 to 100K range we chop and consolidate and then rip uh as we head into 2025 that possible as well uh I prefer a blowoff top this year so that I can m

ake money sooner than later right you get to cash out sooner as we hit the all-time high blowoff tops so I'll be cashing out at Bitcoin starting at 90k then 100 and so on and so forth and then we will see an epic alt season for those of you who are major altcoin holders so that's what I'm looking forward to I think bombs analysis is great here but as you can see Bob is sharing multiple scenarios as an educated in per investor you want to look at all possible scenarios you want to look at Bearer

scenarios as well we don't want to have confirmation bias and and tunnel vision that it's only going to keep going up and this and that no look at all scenarios obviously I want it to go up I'm here to make money um and one of the big Catalyst that is driving bitcoin's price is the ETF buying so Eric balunis of Bloomberg shared some updated numbers today saying the second biggest volume day for the 10 Bitcoin ETFs and the best in the past 5 days with 8.5 billion uh folks in in trading volume tha

t's incredible and he says only five stocks traded more he says ibit which is black rocks ETF went crazy again double gold volume but the middle of the pack really seeing pickup huddle and btco did 150 million and 250 million huge for them so not only black rock like he's saying but the other uh Bitcoin ETFs are going nuts as well yesterday we talked about bit wises uh AUM Crossing $2 billion that's incredible folks uh and it's heating up right we talked about Vanek also cutting their fees till

March of 2025 so uh exciting to watch this play out and as I've been saying we are still in the early Innings this thing is going to continue to grow because the raas and wealth managers are now getting educated these Bitcoin ETF issuers are going out to them and educating them building awareness and so forth and obviously there's going to be a lot of marketing around these things so exciting times folks now let's take a look at what are the top trending tokens on social media this data is broug

ht to you by santiment which has a lot of great metrics and uh features that you can use to inform yourself and educate yourself as an investor so avax uh also known as Avalanche right Avalanche is the blockchain avax is a token is leading uh seeing some nice price action it has huge positive sentiment uh injective also seeing some positive sentiment here uh there's going to be a token release soon the price has been moving as well um so salana comes in at three U banano I guess this is a meme c

oin I don't know it comes in at four it has a high negative sentiment at 47.7% um here you got Reef I have I don't know what the hell reef is but it comes in at number five Rune or Thor chain and the native token is Rune uh that has some slightly higher negative sentiment as well ethereum coming in here at 7 you got grid uh coming in at number eight and it has high negative sentiment at 44.7 1% uh xrp coming in at number nine with actually good positive sentiment versus how it was looking the ot

her days and clover Finance uh coming in at number 10 so those are your top 10 trending tokens on the uh social media webs guys heads up I'm going to have some Representatives some santiment come on the podcast for us to do episodes to cover different data metrics and so forth so once again you guys can be more educated about what's happening in the market they'll be able to break down this data and the charts and so forth better than I can and it can give you some great insights as to which tok

ens you may want to be looking at uh which ones you may want to sell which ones you may want to buy what you want to hold shortterm long-term and all that jazz will go into categories like AI tokens and so forth so make sure you subscribe all this great data is coming soon now we got some big news from coinbase today they're actually following micro strategies model so coinbase announc his offering of $1 billion in convertible notes the stock jumped 18% in the past week after Bitcoin Notch new a

ll-time highs and the US Bitcoin ETFs continued to beat records so the notes would mature in 2030 according to the company and would be offered to institutional investors here's a quote coinbase also expects to Grant the initial purchase ERS of the notes a 30-day option to purchase up to an additional $150 million principal amount of notes solely to cover over allotments the company said the company will elect to convert the notes into cash shares of class A stock or a combination the crypto exc

hange will use the proceeds from the offering for General Corporate purposes and will also use the funds to pay or repurchase 0.5% convertible senior notes due 2026 3.375 % senior notes due in 2028 and 3.625% Senior notes due in 2031 uh coinbase may also use a portion of the net proceeds to make investments in and Acquisitions of other companies products or technologies that coinbase may identify from time to time so that makes sense you know they're going to raise uh Capital here to go invest a

nd uh acquire other companies and try to grow their footprint and their valuation now you know what I'm going to say next right they better use some of that money to pay for some goddamn servers because we don't want coinbase going down during the bull market it's ridiculous at this point right we've all experienced it recently showing you log in you see a zero balance that's unacceptable coinbase come on you're a public company you're making billions you're going to do this uh offering here uh

of a billion raising a billion dollars so come on stop playing around use some of that money for the servers now a great exchange that I personally use and have been using since 2018 is uphold you can buy Bitcoin and all the top alt coins they have 260 plus cryptocurrencies you can also trade precious medals on here gold silver Palladium Platinum so this is a platform I trust they are fully reserved they have transparency reports they don't com mingle or lend out your funds and they're easy to u

se so check out uphold link will be in the description now folks we've been covering the John Deon versus Elizabeth Warren campaign in Massachusetts of course John Deon going to take Elizabeth Warren's seat Well I gave you guys a heads up in in previous episodes of the podcast that we have a new potential Challenger by the name of Ian Kane running against Elizabeth Warren however Elanor ter of Fox Business did some research here and this guy seems to be very buddy buddy with Elizabeth Warren so

my question is is he a plant it wouldn't surprise me we are dealing with corrupt Elizabeth Warren so here's what she said I've been looking for further into Ian Kane the new Pro blockchain gooper who uh could be preparing to launch a campaign for Senator Warren senate seat if Kane were to run he would do so as a moderate Republican which would put him in direct competition with John Deon according to the Boston Globe C registered as a republican for the first time on February 29th after spending

four years as an unregistered voter and a registered Democrat for around 3 years prior to that Kane has many democratic connections his father John Kaine is Chairman of Quincy MA W 3 Democrat Party according to Massachusetts Democrats website Kane's recent election contributions have all gone to Democrats including Massachusetts governor and she lists all the names and so forth um so uh and then she highlighted some photos of him and Joe Biden and him and Elizabeth Warren I got a funny feeling

I got a gut feeling this guy is a plant by Elizabeth Warren to try to take away vot on John Deon because she's scared of John Deon we've seen that the tweets the emails begging for money the the calling out to other Democrats to come help her she's scared and uh you know we've talked about the different factors why she's scared but um I think this guy's a plant I could be entirely wrong but I get a gut I have a gut feeling that he is given his background he pops out of nowhere he's a pro crypto

guy as well and and he you know he all of a sudden jumps on the Republican side after seemingly being a Democrat for a long time guys I think this guy's a plan you know it's kind of like uh we talked about Aaron Kaplan and promethium is a plant by Gary genser I think this guy's a plant by uh Elizabeth Warren all right let's move ahead grayscale to launch a new smaller fund under ticker BTC so this is interesting the grayscale Bitcoin mini trust fund would trade under the ticker BTC a person fami

liar with the matter told block works that grayscale had to Ticker reserve for a while to build out a suite of products the SEC will need to approve the fund before it can officially launch while an exact fee isn't clear the fee for Bitcoin will be lower than gbt's 1.5% fee and would be competitive with the other Bitcoin ETF fees the person said well they're going to have to really have a low fee because uh we saw vanet cut fees um I know bitwise they have the lowest fees out of everybody so we'

ll see what grayscale is able to do here but we know gbt's 1.5% fee is kind of crazy so gbtc will seed BTC and a certain percentage of the Bitcoins will be allocated to the new fund here's a quote at grce scale we aim to continually provide our investors with compelling future forward opportunities to access Bitcoin and the crypto ecosystem additional information can be found in grayscales public filings a grayscale spokesperson told block Works via email so let's see how this goes it's the comp

etition's heating up here folks now folks we got some news here coming out of Nigeria which is wild binance exec detained in Nigeria capital despite country exit so a senior binance exec tigron gambaran and Nadim and jerala have been detained at a government property since February 26 now folks remember we covered it I it was probably last week or the week before the Nigerian government is looking for $10 billion from binance if you recall I said you know their request reads like a Nigerian prin

ce email scam but it looks like they're serious here they're they're like we're going to hold these uh binance Executives hostage until we get that1 billion it's like Dr Evil right uh they're making their request but man they're not playing around here but I hope these guys are okay and um uh we'll see you I I think it absolutely has to do with that 10 million dollar fine they want that money so we'll have to wait to see uh the developments around this now coin shares closes by of us Bitcoin ETF

issuers fund division Europe Focus investment firm is set to expand its us Asset Management business after taking over ETFs with $530 million in Combined assets so we continue to see expansion mergers and Acquisitions and much more uh the Market's heating up folks both on the equity side as well as the coin side so coin shares completed its takeover of valkyrie's fund business Tuesday as part of its bid to expand its Asset Management footprint in the US coin Shar said it had secured an option t

o buy valkyrie's fund division in November the option was active until March 31st 2024 with the purchase coin shares is set to gain roughly $530 million of assets under management across four funds this brings one of the 10 US spot Bitcoin ETFs the valkyrie Bitcoin fund bur be R RR as well as the firm's Bitcoin miners ETF wgmi we are going to make it of course it's Bitcoin and ether ETF strategy uh BTF and Valkyrie Bitcoin Futures leverage strategy ETF btfs so a big acquisition here folks and on

ce again things are heating up people are bullish they know uh we still got ways to go there's going to be huge demand for crypto assets obviously and uh acquiring one of the ETF issuers here in the United States is a big strategic move for coin shares now we got news here that Eclipse secures $50 million ahead of mainnet launch the series a was co-led by placeholder and hack VC so modular blockchain Eclipse once again securing $50 million it brings its total funding at $65 uh million blockchain

modularity refers to the different design layers of a blockchain stack these include execution settlement consensus and data availability for blockchains like Bitcoin ethereum and salana this activity is carried out by the same set of nodes modular blockchains on the other hand divide different functionalities into separate specialized layers Neil Sani the founder of eclipse told blockworks that he believes that there are no layer twos on ethereum today that are built for scale o that's a that'

s a big statement there that are built for scales they're not built for scale um here's a quote there are many theoretical Solutions and plenty of infrastructure being funded which will mitigate the issues of liquidity fragmentation in the coming years but our view is that there is tons of low hanging fruit at the execution layer which we will happily incorporate to provide a superior user experience on ethereum somani said eclipse is intended to be the most performant layer too hm so obviously

they have a competing layer too so they're going to make certain bu statements and they do have a token of course I think it's the ECP token here but it doesn't look like coin market cap has any data it may not have been uh released yet or is in the process of being released we'll have to wait and see but it could be something to look into folks I'm going to look into this project um because we see these layer twos on ethereum been pumping like crazy and taking off so not Financial advice you kn

ow do your research like I said I need to research this I don't invest blindly but um we we'll see um you know if this is legit or not so we got to see what the tokenomics are and if it makes sense but but uh more layer twos coming to ethereum and uh you guys know ethereum's denin upgrade is coming tomorrow so that's actually bullish for ethereum um we'll see how that goes all right guys uh that's the news be sure to check out our other sponsor which is vchain one of the top layer one Enterprise

grade blockchains out there working with BMW uh PWC Walmart China Boston Consulting Group they're building amazing web 3 apps real use cases being solved here with this blockchain they're fully scalable they use uh low energy and uh they have great speed and scalability as well so if you'd like to learn more about vchain visit vain. org link will be in the description folks great way to support the podcast sign up for my free email newsletter link will be in the description also follow me on al

l social media platforms links also in the description thank you guys for watching and listening and I'll talk to you all later [Music]