MAJOR Indicator Just Flipped Positive For BTC

0:00I'm a street phone on the ground. I'm a street phone on the ground. I'm a street phone on the ground. Where's Sey? Damn it didn't again. Good morning everybody. Good afternoon. Good evening. Welcome back to the pleb underground as you guessed it. My setup is still in limbo, but it's all good. It's all good. We are going to get this squared away. But first, but first, let's dive into the major indicator that just flipped positive for BTC. That's right. Okay. So obviously we're going to take a look at the clarity act flopping again, a little bit more details on that because of course there's obviously some drama surrounding it.

1:02What else? What else? The 10, the 10 year, the 10 year, the yields are closing at their highest level since 2007. You're more afraid during the bull market. You hear a lot of bad news that has zero negative impact on the price. And I got to tell you the clarity act doing what happened yesterday, the fact that didn't move. I do consider that bullish at the same time. We also got news about that bill for the SBR, which did pass and is moving forward. And guess what? Nobody cared. Nobody cared. Anyways, the coin sensitivity to bad news continues to hover near all time lows. That is the signal. Got the major news events behind us. The market is still stuck in the local range. I do consider this a good thing. Yeah. Still stuck in preparation season is on people were actually selling Bitcoin

2:02because of the failed clarity act vote guys. This means that you don't have the conviction that you need if you were doing that. If you were selling Bitcoin based on the clarity act, number one, you don't understand Bitcoin number two. You don't realize that this is just nonsense. So bull bear cycle indicator just flipped positive. We're going to take a look at that. The small shift in investor behavior could spark the big move. Maybe it's part of that bull bear oscillator. We don't know. Bitcoin is holding pretty strong though, while various other indicators are cooling down. That's right. It's all just juggling balls in the air. What else? The feds. The feds raised rates. Womp, Womp 25 basis points. So there's some people who seem to think that like that this is the end of the 10 year. Hasn't done this in forever. You know, you guys got to go take a look at history. You got to go take a look at what the interest rates were in the 1970s. And I understand, of course, the country didn't have that much debt and blah, blah, blah.

3:03So are we going to pretend that right now people are genuinely concerned and being affected by the deficits? Really? Do you think it matters that the country actually owns, but you think it matters in relation to the interest rates? All just shenanigans. It's all just shenanigans. Anyways, damage control after the clarity flop. That's right. That's right. So it's going to be like a whole entire episode focused around the opium and the copium of the, react as well. Could the tokenization boom create the next paper crisis? You know that this is all just carefully crafted narratives being put out there in order to ensure that we've got the basis covered. Look, we told you there was going to be a crisis tokenization is bad unless you do these things.

4:04It's just part for the course guys. It's just part for the course. It's all about modes. It's all about maintaining control. Yeah, the Bitcoin strategic, sorry. Yeah, the Bitcoin strategic reserve bill passed the US House Committee. You know, it's interesting that Bitcoin didn't even move on that news at all. Didn't really get a chance to look at the price yesterday because my, my laptop's African host, but it's like we did absolutely nothing. We're sitting at 76 seven right now. This is nothing. Anyways, anyways, what else are we going to take a look at pro cap financial sold 50 Bitcoin to buy back its own shares? What do they actually do for a business? I don't think anybody knows. Swaptopia is now up, right? If you were looking to do on chain swaps with lightning, take a look at that one. And the node runners conference is starting on the 19th. We're going to take a look at that. We're going to take a look at their website and you know the deal guys.

5:06We are going to kick it off right away. Right. I've right into the numbers. Let's frickin do it. So Bitcoin, Fiat exchange 70s. Oh, wait, wait, can't just go diving into the numbers. What is that? Good morning. Good morning, knowledge, HODL. Plastic. Good morning. Matthew. I suck and haven't forgotten. Don't worry. I'm going to get you the logo. Just terrible. And especially things like things throw me for a loop. Anyways, it doesn't matter. What else work clarity acts passing means giving Trump a win. And that's not going to happen when. Yeah, that's what I do. And this is why right they given that stupid SBR. And of course, we're going to talk about the SBR thing. It doesn't make a difference that they're never going to buy Bitcoin. They don't have to. No, moon shine fuel. It's not over. Okay, it's over. Long live Bitcoin. Turbo. Good morning. ACP. That's right, dude. Good morning. Chop, chop, chop. And that's literally all we're going to do.

6:06You think we're going to get a bottom by October 6th? I don't know. Bitcoin reserve bill passing the house is easy. Wake me up. Yeah, exactly. It still has. What is it? The Senate. Isn't there two other? Isn't there like two other governmental bodies that it has to go through? Anyways, doesn't matter. Long process. Good morning, Matt. Yes. Always making me jealous. I am the lack of hair club for men. Okay, let's do it. Bitcoin, Fiat exchange. 76,000. Yeah, 76,650. Nine new all time high on the Bitcoin block height. 967,435. One sat per V byte. Yay. I don't really think yay. But it's okay. You know, it's just for me, it just has to do with. With getting to kind of bag on the shit coiners and all the people who are sitting there pretending that Bitcoin is unaffordable and can't be used as money. Yeah, total public lightning capacity.

7:074,531. Let's freaking do it. 76 76. I phones per Bitcoin. Losing phones, guys. No, I'm just the same as numbers yesterday. And 19% of a house. Good morning. Clean your machine. Tell me about it. All I want to do is just cry about my laptop right now. It doesn't matter. I can't help it. All right, guys. Let's dive into it. Super Bitcoin, bro. Always some of my favorite. Hope you the clarity act flopped again. Yes, it did. While 10 year yields close at their highest level since 2007. Oh no, here. Mortgage crisis vibes. That's not what he's saying. That's what I'm saying. But then for bullish falling wedge is taking shape. And the 200 exponential moving average and simple moving average are likely to provide a strong floor. In the event of FOMC volatility. Let's freaking do it.

8:08Look at that. What are we looking at here? 70K. I mean, look, in fairness, right? They're. Okay. 72K maybe. We come back. Maybe we retreat to that. You know, I don't know. I don't really see the 60s happening though. Unless we have like some bigger. Some bigger macro event. Of some type. I don't even know what that would look like. But. This is good stuff. I am very pleased. And yet, usually what this indicates, right? The falling wedge usually indicates that we end up spiking off of that falling wedge. All right. Bitquant. During the bear market, you hear a lot of good news. That has zero positive impact on the price. During a bull market, you hear a lot of bad news that has zero negative impact on the price. So get ready to see plenty of bad news. Come and go because this is a bull market. One of the most significant bull markets we've witnessed.

9:09Buy it today. Good morning for your eyes, guys. Man, you didn't give us a chart. That's okay. But look, in all fairness, right? To me, I often look at how markets react to news. And that does give me an indicator of whether it's spraughty, right? Or we're really just in a in a down market. You know, so yeah, at this point, you know, we're seeing that the bad news isn't affecting the market as much. The good news doesn't do much either. I got to tell you, I'm getting bullish. This is a good time. This is a very good time right now. Like if the clarity act, flopping, would have dropped Bitcoin back to like the 60s. I would tell you that, okay, you know what, guys, maybe we've got some worse pain ahead. Doesn't mean I know what I'm talking about. Just telling you, you know, it's just my impression. Okay. It's minced and with. Let's do it. Bitcoin holding 76 K since the clarity act.

10:10That's right, guys. It's all about how Bitcoin didn't die based on this arbitrary thing that really has nothing to do with Bitcoin, right? The Bitcoin network functions regardless of this clarity slop. This is for regulators and normies. Okay. That's all this is, right? Some would even say it's K-fabe. Anyways, I am reminded of the recent work that Andrew Dross developed on how Bitcoin is becoming less sensitive to bad news over time. This is also true, right? Regardless of the market bull or bear. Also, what we're seeing is this Bitcoin is becoming more resilient in regards to how the price action. The tax to the news. Guys, in 2017, something like this would have happened that that's it. We would have gotten like a 30% haircut in a day. Okay. I think that people don't really realize that. Oh, a good morning, no name extra.

11:12What is up? Be for bacon. What's up? The clarity act did succeed. It gave clarity that. See, be for bacon, gets it Nate, Nate with the signal. I appreciate it. Okay. Okay, so here this is what Andre had to say. Bitcoin sensitivity to bad news continues to hover near all time lows. Strong signal for seller exhaustion. And that there is essentially no pent-up supply waiting on the sidelines anymore. Probably one of the reasons why BTC defies a move significantly lower from here. That's right guys. Anybody right now who asked to sell or is in a position that they're thinking about it, they don't really want to. Because the truth is is that you know that the bull runs right around the corner. So that's it. What is it? Ah, yeah, TR. That's what I was waiting for. X is filled with salty traders who, dude, they, I, I firmly believe that a lot of these people believe that they were gonna get their next massive leg down,

12:13possibly spiking into the fifties. And now it's panic time, right? This should have been the nail in the coffin and it wasn't exactly bangarang. Long as 58K holds, we're good. Damn that meme, damn that number. And take a look at that guys. BTC downside beta to crypto asset sentiment, okay? What do you care is anymore? Like the Bitcoin's going down. Like I really want people to internalize this. Nobody cares. And Bitcoin is at 76K. Do you know what happens the last time nobody cared? We were at 15K. Do you know what happened the time before that nobody cared? We were three and a half K. Just saying, just saying. Okay. We continue. All right, crypto jelly. I really like this account. Sky has got some good stuff. Or girl, I don't know, I have no idea. Got the major news. Not to do anything wrong with that. Got the major news events behind us. Market still stuck below the local range lows.

13:15Yeah, it is. Until the market reclaims this, I'm betting on that slow bleed scenario. I've discussed over the past weeks. Yeah, but slow bleed to where exactly DCA continues. DCA season just continues. In all fairness, this is a wonderful setup. This is a wonderful setup to just absolutely destroy the bears. But we'll see, see what happens. Hold on a second, I gotta go back in. What are we doing right now? 76.7. Okay, 76.7. Whatever. So I just want to point out, okay? I just want to point out in crypto jelly's chart. Is turbo bull scenario brings us in July of 2028 to approximately $810,000 per Bitcoin?

14:16I mean, it's obviously not as bullish as my $9.6 million dollar call July 2028, but I'll take it. Why not? I'll take it. All right, let's do it. Seth Financial can't believe this. People actually selling Bitcoin yesterday on Coinbase. Spoiler alert, they were selling it on a lot of other exchanges too because of a failed clarity act vote. Does it look like Bitcoin needs the clarity? Nates to your point, right? Every time the signal flashed and we get a bullish cross the bull run starts minus 20% pullbacks are normal during a bull run. I remember, I still remember, I've talked about this in the past. I remember in like 2017, 2018, I've even cited this example that essentially, India banned mining, I got scared. I didn't realize it was the story, right?

15:19That India keeps banning mining and banning crypto in different ways. I didn't know, you know, and I didn't educate myself at the time. So as soon as I saw that happen, I fricking panic sold and I had to buy it all back. Because I didn't understand. Because as soon as I heard that, I'm like, all right, that's it. All the other countries are gonna, it's following suit. This is dead. I was wrong. So yeah, don't fall for this crap. Just don't fall for it. Okay? Anyways, look at that. We're in the bottom band. This is looking good. All right. Anyways, rip dalaka Bitcoin may have already given you the crash. Yeah, free RSCides. I think it was, I'm pretty sure it was India in 2017 or 2018. It was like a, it was kind of going back and forth between India, China and there was like a few other countries. Yeah, dude, man. I was green and I had no idea what the hell I was doing

16:19and it was, I was just scared. I was scared of everything, you know? It was like, there was the Wild West and I had bought all the narratives and I was like, wait a second, they're banning this stuff. It's going to zero. What was I wrong? And it's good that I figured out that I was wrong and I was good enough to eat crow and start stacking again. Anyways, Bitcoin may have already given you the crash. And this goes back to TR's point about some traders being salty because you maybe didn't like the price. Now the crowd is waiting for another collapse while BTC is already rebuilding from the same long-term zone where previous bottoms ended. That's right guys. I think look at this chart. And I can like this. If you're trading this and you're thinking this is going to 40k so that you can double your stack, right? Because you know what's gonna happen? This is where we are. Yeah, we might get a slight little dip right below it. I don't think you're getting your 40k's.

17:20I don't think you're getting your 20k's. I don't think you're getting your 30k's. And that's right, that's my hope, you know? That's my incentive, right? For the people who are incentivized to get those numbers, they believe that. I, on the other hand, I'm not. And I say, no, I don't think that's happening. I don't think it's happening. Anyways, here we go. Now some hope you're from Durdon. Is that a single orange bar after seven months of blue? Jim Blue. Pretty sure those are flashing colors. Anyways, is a single orange bar how 2015, 2019, 2020? And 2023 all started? Also, yes, that's right guys. It's not different this time. It's slightly different. It's also the same. You figure out how you're gonna rationalize that. The bull bear cycle indicator just flipped positive for BTC. Small signal, they all start the same. Indeed, indeed they do. And here it is guys. There is our tiny little orange line right there.

18:25What is it, the track, the Tratters? The Traders bragging about being swing, about being swing long for a couple of months. Those are rookie numbers, yeah, big time. Hey, good morning, psycho train. We are so back, we are so back. We're so back until this afternoon, and when some type of an announcement gets made that we weren't anticipating. All right, so move on here. Some more hope from Frank. He's popped back into my timeline. Seeing yearly lows on Bitcoin's sell side risk ratio, suggesting a highly compressed market. I like that. You know, you know where this is going, it's the beach ball. It's the spring that's about the open, a small shift in investor behavior could spark a big move. This fall, one chart. All right, and look at that. Look at that sell side ratio, very low liquidity. It's 75K. Nobody wants to sell at these levels, guys.

19:26It's like if you're looking at Bitcoin right now, if you're selling at this point, like you know, you're selling into the bottom, you're selling into the bottom of this freaking bear. If you want to call it a bear, maybe instead of calling it a bear market, we'll call it a cub market, right? Cause it's not a full bear. I can eat a cub. He's little. He's little. Not big. All right, I don't often use Bitherington for hope and buddy popped into my timeline, and I really like what he had to say. So Bitcoin holding pretty strong while various indicators RSI, MACD, Fisher cool down is exactly what we need for the next Bitcoin bomb, but some dull price action. And another boring dip first, I guess. Maybe patience. Don't let them buy your Bitcoin. I agree. I agree. And again, what he's showing is simply the compression and the flipping of these indicators towards bullish.

20:31This is very good. We wait. We wait and we huddle. All right. So to me, this is also a good thing guys. The bed height rates and we also did absolutely nothing because don't forget, right? Bitcoin thrives in a lower rate, high liquidity environment. And yet this was announced and nothing happened. Why? Well, I'm going to say that the market had already anticipated this. This could be why we've just been trending flat in the 70s, not being able to break 80s, which tells me we are going to go much higher when the liquidity comes back. Anyways, where is that liquidity? The Federal Reserve raised its benchmark rate by 25 basis points, to a target range of 3.75% to 4%. Look, like guys for perspective, right? In the 1970s, by 1979,

21:31but what is it? Hold on, let me. By 1979, I was looking this up. Okay. By 1979, okay, the overnight, the overnight, sorry, the interbank interest rate was approximately 11.19%. Okay, the rough average between 1975 and between 1975 and 1979 was 7.1%. The bank prime rate, okay, and this is according to the St. Louis Fed in 1979, was 12.67%. So, you know, it's just, all these people who think like, oh, it's it, it's over. Guys, we've seen this shit before, okay? It's all the same. It's all the same. But, but now we're gonna move into the damage control, right? Because the Clarity Act, as we all know, right?

22:33There was a whole bunch of regulations all ready to go. So, as soon as it failed, it began the damage control. In a statement on X, CFTC Chairman Michael Selig said, the outcome of yesterday's Senate vote was unfortunate. Adding that the CFTC is locked in and ready to ship its rules for the new frontier of finance. Also, Bernstein expects aggressive and swift SEC and CFTC rulemaking to compensate for the Clarity Act's failure. Saying agencies will move to make up for the lost time in negotiations and there's more. There's more, right? Senator Paul Adkins, my thanks to everyone who put so much effort into the Clarity Act across the administration, Congress, investors and innovators are collective conviction that America must continue to lead is indispensable. That sounds a little different than Congress actually rejecting this. Anyways, I have been unequivocal with or without legislation. We will act decisively and this is true. I've shown lots of videos where he has said this

23:34within the SEC's statutory authority to deliver certainty for American investors and for entrepreneurs shaping our technological future. Stay tuned. I pin it up, guys. It's all being hyped up. They're gonna fix this, okay? You gotta keep in mind. Just remember, the banks, right? The biggest banks, the biggest investment institutions have been building out the rails and getting their products ready, right? The tokenization products. A lot of money on the line, guys. A lot of businesses, a lot of livelihoods. Okay, this doesn't just go away. It doesn't. Of course, it did the rescue. Let's dive in. Could the tokenization boom create all streets next paper crisis? Are you? Condization, right now, is potentially mimicking the paper crisis that we saw 60 years ago.

24:37You remember, at that time, people were used to custody their shares in paper. But when the industry started to boom, the New York stock exchange had to close every Wednesday to be able to recontidate everything. When they decided to fix that by creating a centralized entity that would custody all those paper shares, that evolved. But now is the tokenization evolving, booming. We start seeing tokenized stocks all over the place, right? Because of that, I think we have a unique chance now to alleviate the risk that comes with this booming of tokens. And I think the SEC is precisely focusing on making sure that they fix the problem before it exists. Oh, wait, there's more C guys. Don't worry. They're going to make sure everything is fine. They're going to fix the problems. OK, before they exist, they fix all these problems. But we're right. There's more. Vlad Teneff is right in the sense that he has a demand. He's here with the tech and a stack that is proposing a stock that people want.

25:37And on the other end, AMC wants to know who owns what's in their company. So I think the only good answer to that is, let's make sure that we build a system where both can operate in the same way. We don't need to give voting power to people in Filipina or in Africa or in Europe or in Asia, but they want the financial upside. OK, so the reality is, guys, is that they're going to make the regulations. They are going to do all of this stuff. They're going to do all the feel good things that people expect. And in the end, there will still be a massive blow up. Because human behavior, human nature isn't changing. The desire for people to make more in a significantly shorter amount of time, right? That's not going away. So if we think for a second, the allure of creating tokens out of nothing is simply just going to disappear because the regulators are here and Wall Street is joining in,

26:40you got another thing coming. That is totally not what's happening. OK, that is not what's happening at all. It's going to be interesting, very interesting times. Yeah, guys, the strategic Bitcoin, sorry, the Bitcoin Strategic Reserve Bill, right, passes the US House Committee, as we know, it still has two other votes to go through. Mandate study of budget neutral, BTC acquisition extends wash sale rules to crypto requires 20 year hold of future reserves advances to full house votes. So look, I've talked about this a thousand times ad nauseam. Wake me up. And again, I'm not saying I'm not cheering for this. I'm just saying this as a factual point. Wake me up when the US government signals to the rest of the world that its dollar is garbage and starts purchasing Bitcoin with their dollars. OK. I'll wait. I don't see any of that shit happening.

27:41Sounds great, though. My bags. Right? Oh, freaking bags. All right, pro cap. Let's do it. Pumply and those pro cap financial sold 50 Bitcoin to buy back its own share. So I want you to think about this, right? Of course, you know, we all know, you know, your clear leader for Bitcoin Bitcoin is the most amazing thing in the world. The most amazing asset. It's going to do better than everything else. finite, all that stuff. And then in the end, POM's company is just buying back their share. So they sold the most pristine asset in the world, right? And they bought back more of their shares. I mean, look, that obviously, to me, is just meant to signal confidence in his company. He was willing to sacrifice those 50 Bitcoin for doing that. It's just large. But there's a chart, guys. There's there. There's their. What is this? This is their monthly chart. Yeah, each of these candles is on the month.

28:41So there you go. It's been kind of picking back up. Were they illegal in the 80s? That's interesting. I did not know that. Then again, I was a kid in the 80s. Yeah, exactly, Rork, they're going to create the token and they're going to keep and collect the Bitcoin. It's going to be that dude. It's going to be rinsing repeats just like the shit coin, just like the shit coin casinos in the beginning. It's going to be the same thing. So let's just take a look at ProCap stuff, though, right? Shareholders have been substantially diluted over the past year. There's no surprise there, right? Every single one of these businesses that attempts to buy Bitcoin does the same thing. They kick their shareholders in the nuts, dangling the carrot on the stick. Then hey, eventually this is all going to be worth so much more. Makes less than a million dollars in revenue, 123K a year, and has less than one year of cash. Run away. Not so good. But, okay, and again, I'm not trying to sell this crap. I'm just saying there's another side to that picture, okay?

29:42Even though they have that going on, they've got about $15 million in cash. They've got 262 million in equity. Their total liabilities is only 95 million, and their total assets is 358 million. So in the grand scheme of things, was he able to afford this virtue signal right now? Yeah, he was. Tom was able to afford this virtue signal. But exactly. Yeah, thank you, Bangarang. It is. It's all just games of musical chairs, right? Like at the end of the day, even though they have this stuff, I'm still very curious as to what any of these businesses actually do. Like it would just be like me setting up a Bitcoin treasury just because I've stacked Bitcoin. And then like every once in a while, I sell some to buy back shares or I don't know. I don't know. Anyways, moving on, moving on to some real stuff, right? That's all just freaking focus. Yeah, exactly work. The like he doesn't care.

30:43It's not his Bitcoin. At the end of the day for them, it's just look, it's financial activity. They're in the news. Hey, look, stupid me is talking about it. There you go. Not that they care that I'm talking about it. Obviously they want the much bigger institutions talking about it. Not the little plebs, but hey. Doesn't matter who talks about it, right? Just talk about it. So this is a post year from Google. Swaptopia is now up supports on chain lightning swaps runs entirely in your browser. Full self custody powered by second HQ's bark. Hmm. How full self custody that is, right? Because technically isn't that like a, isn't bark almost like a federation? Like you have to put liquidity in there. Anyways, either way guys just just keep in mind, right? This is this is beta. It's I'm not suggesting that you use it. I'm just letting you know that this is out there. So yeah, if you are going to use it just to have you had empty.

31:47Anyways, let's keep it going here. Rinky man, I always appreciate. I always appreciate your posts. So as you guys know, there is a conference in the Netherlands, right, that is happening. I think it's the ones, right? It's an Arnhem and it starts in two days, guys. It starts in two days. And again, I'm not going to try to announce this couple thing, but, but let's go take a look at some of the, some of the art that they have. But they're auctioning off. You know me, I'm a giant sucker for this stuff. So, can't help it. I always like to go take a look at the art.

32:50Let's see. There we go. Okay, so, take a look at this stuff, guys. I like these, I like these statues. Looked appear to appear army warrior number seven. I know some cool stuff. I like simple, yeah, simple designs like this. This is, this is very cool stuff. I like this. I like this. I like this. I like this. I like this. I like this. I like this. I like this. This is, this is very cool stuff. Anyways, look, you're out in the Netherlands and you can get there, go hang out with these guys. They're going to do so much. It's, it's always super cool to go to actual conferences with techies because they're always just actually building and talking about these, you know, obscure ideas around Bitcoin. That to me are the actual signal. So yeah, I appreciate that stuff. It's good times.

33:50Anyways, guys, don't forget sign the petition, right? And if you feel so inclined, please donate to Samurai. I really appreciate all of you joining me once again. Ah, next week I will hopefully be back to my regular setup, probably not at the beginning of the week, but either way, either way, the show goes on and tomorrow, I am going to have Don He Celi. That's right. He's working on like this new Bitcoin cartoon and he's also going to be, I think they're actually going to be doing it an episode of it live at the Midwest Bitcoin Summit that is going to be taking place, I believe, next week. So anyways, Don is going to be on the show tomorrow. I'm going to be joining us. I hope to see you guys there and have a great rest of the day. Take it easy. Thanks again for stopping by.