Bitcoin's Bottom Setup...Pay Attention

Welcome back to Cryptos are Us. I'm George. We're all George. Welcome to another market open stream today. The US market is looking pretty green once again. So, how's that going to affect crypto? What about this bottom setup that we've been eyeing? Are we going to see more green for Bitcoin and crypto? Let's talk about everything that's going on today. All right, let's do it, guys. Let's do it. Welcome, welcome. We're start out a day about 624 625

slightly over uh lower than yesterday. Yesterday we hit about 64,000 and uh we've come down just slightly but overall we are trending back up which is good and if the US market is recovering it could help us even more. So like right now the futures are looking pretty green. Let's see now at open things are looking pretty green as well. So we'll see. We'll see where this leads. Yesterday was a pretty good recovery day all around for everything for crypto, for AI, for tech, for pretty much everything. We'll see if it's today follows. But, uh, yeah, seems like this war thing, you know, still ongoing. I've reported some

things about basically Trump telling Israel to stop it. I don't know if that's true. just it's just speculation at this point, but it does seem like everyone wants this to be over, including Trump. I don't think he wants our ships and our guys over there longer than needed, obviously. But it just seems like every other day you have some kind of, you know, of report about some retaliation, some strike, and then you hear about, you know, some ceasefire talk, and then it escalates again, and then, you know, it's like ongoing. And you know, oil prices every day up 5%, down 3%, up 7%, down 8%, it's like every single day. There's not a lot of clarity. So most markets right now are ignoring this, including now US market. Asian markets have ignored it. A lot of markets have. So, um, [clears throat] people are just kind of getting used to it, but we're still all waiting for this to be over. And Trump did go to the Knicks game yesterday. Um, he fell asleep in the middle. And go Spurs. All right. Outside of this, what else? Uh, more AI news. Uh, OpenAI did file for IPO. So, this is following the footsteps of SpaceX, which is later this week. It's going to be huge. Uh, 1. 75 trillion valuation. Uh, Anthropic filed. Now, OpenAI, these

three will be the hottest IPOs. um the largest IPOs ever in history. Okay. Uh all one trillion plus. So it definitely set a stage and set a tone for the rest of the market. Uh of course including AI and tech. So we'll see. It's going to be this could be nuts. Could be quite nuts. There is another company called Perplexity. smaller company that will be IPOing in 2028. [snorts] Although I don't know, I'm not a big fan of Perplexity. And I I've listened to CEO this guy talk before in interviews. Doesn't sound nearly as capable or intelligent as some of these other platforms. So, I don't know. A lot of these companies are still being overvalued because they are in the AI space and right now everything is just being bought up and part of the reason

why you see this uh total market cap okay of the stock market versus GDP normally we see something like I don't know debt to GDP right and that's been skyrocketing and that's not something good but if you look at a total US stock market cap to GDP Uh it's insane. Look at it. 238. Of course, this is led mostly by AI. So you could say one of two things, right? One is well AI bubble is too hot and it could crash just like the dot bubble in 2000. You can see that, right? Or any other bubble that you see at times. And that could certainly happen. Major corrections always happen, right? But what comes out of them, the ones that survive become the powerhouses of the future, right? So whatever survived 2000, like Apple, Microsoft, Amazon, Google, look at where they are now, right? So at some point we'll probably have a major correction. maybe later this year, maybe October, November going into next year will probably have some kind of major correction once again. But the ones that survive will be moving forward and becoming a big powerhouse. But the second thing you could take from this is there is definitely a divergence from investors and non-investors, right? So, it's one of those things we talk about a lot in terms of macro and we look at jobs figures, okay, inflation, unemployment, these kind of things showing the US economy not doing that great. That's what we're talking about rate cuts. But if you're looking at how much money there is in the stock market as investors, it's a different story. We're at like an all-time high, right? So, it goes to show you if you want to build wealth, I know this is just stocks, it's not real estate, it's not commodities, not crypto, but overall the the theme is the same. If you want to build wealth, you need to hold assets. Okay? You can't just hold fiat. If you're just holding fiat, you are robbing yourself. You need to hold assets. And this is what happens, right? Just right now is the stock market. But we have seen this for crypto. Obviously, many of us have gone through a lot of these bull markets. Okay. Um, but yeah, those are two things I take from this. Now, last week wasn't so good.

Sailor did blame that the Bitcoin crash was due to AI. Now, some of it I agree with and it's been like that for months, not just last week. But there's a company that's saying, "No, no, no, Sailor, we're blaming yourself 32 Bitcoin last week for the crash, not AI Capital Rotation. " I think there's a hint of truth to that as well. Okay, but yesterday Sailor and Strategy did buy a 100 million more Bitcoin. So that kind of, you know, that kind of uh alleviated some fears, right, from people that were thinking, well, maybe this is a precursor to largest cell or if Sailor is not going to buy any more Bitcoin. But he did. That doesn't mean that he won't sell more in the future though. That's the thing, you know. It's like to set a precedence for maybe more selling down the road. Don't know at this point, but it is something to think about. Now, the one guy that makes a lot of sense and I enjoy hearing his thoughts is Tom Lee.

Lee. Now, all this talk about AI, AI scaling, AI spending, AI this and AI that, you may be wondering what that has to do with crypto or worse, is it going to hurt crypto, hurt crypto demand? Does that mean we're not going to have another bull run or altcoin season? Well, timely is like no the two are complimentary and AI scaling could help the entire space and I've heard an interview before where he talked about it and if you think about it makes a lot of sense. Let's listen to this one together. I haven't heard it yet, but I'm pretty sure it's listen to this one together. I haven't heard it yet. Echo. — Joining us now is Funstrap managing partner and CNBC contributor Tom Lee. Tom, good to chat with you. as best as you know or can tell what happened on Friday and what happened today because those days 48 trading hours apart are very different. — Yeah, Brian, as you know, um stocks had done well for some time. So, I think there's a lot of people that are worried about the air gap below because so many stocks move so quickly. And then jitters emerged. Uh I'd say three jitters emerged uh last week. The first is you know how strong is the AI trade especially with some of the guidance that came out of Broadcom. Uh the second of course is just the realization that Google is going to raise 80 billion plus SpaceX 75 Open AI maybe 100 you know anthropic 75 and then Meta of course filed as well. So there's a lot of equity being raised and asking the public to fund that. And the third is of course, you know, the geopolitical tensions. I think people get generally nervous into a weekend and they're worried about — whether there could be something happening in Iran. So I think those are the jitters and as you know, uh we get these pullbacks, you know, in our opinion and we post we public we commented over the weekend on this. I think it's a false narrative to think the bull market is in trouble. I think the bull market's still in intact and in very good shape. — Tom, it's Kelly here back at the studio. And one of the areas that's been obviously most under pressure is crypto. Um, and I know that you say people shouldn't give, you know, throw in the towel, but I think it feels like a lot of the kind of buying velocity has simply left the space and I'm not sure when it will ever return. — Well, yes. I mean, Kelly, I think people are really disappointed by crypto this year because number one, uh, they didn't go up when AI was going up, but in some ways, crypto is a downstream story of AI because as AI capabilities go up, we already hear it from a lot of those AI researchers, it's going to increase the need for blockchain because that's the only way to prove and validate transactions and actually protect us from AI. Um, last week I think that there were some highprofile sort of quote AI security exploits. One that happened on the Orchid suite for Zcash. Um, and that caused some panic. I don't know why it should have caused all of crypto to sell off. But keep in mind, AI exploits are happening at a rapid pace and an increasing pace across all of financial services. It's just that the publicly traded banks don't actually reveal the exploits. So I think that these attack surfaces are increasing everywhere and we have to be mindful of that. And the third is uh you know Wall Street is still tokenizing. It's a real it's a big innovation turning money into software tokenizing equities and real estate. These are composability issues that only happen on blockchain. So to me I think the crypto narrative is still in good shape. But you're right the excitement and the FOMO has been in AI. You know, Tom, going back to the stock market, seeing some of the mag seven stocks down, the Dow is — all right. I think he raises some good points there. And he also forgot to talk about Sailor. I think he purposely left that out. And um he's right. I totally forgot last week we did have the Zcash exploit that Claude found and that actually caused Zcash to go down quite a lot. And you know what? for believers uh actually came back up most of it most of it. So exploits [clears throat] will always be a thing and AI as it gets smarter has been finding a lot more. And like he said, banks and financial institutions, they have breaches all the time. Like I get emails all the time about these companies getting breached and consumer uh data getting, you know, sold on the black web. That's how we get our credit card numbers and our emails and all this spam that comes from them. But they happen all the time and we're going to hear more about it. Those of you guys that are in AI have heard about mythos and how supposedly it cracked all these systems that have never been cracked for decades. So that's one thing. But the second thing is like you think about it, the two are complimentary. We hear about banks and financial institutions getting into RWA. Tokenizing funds, tokenizing stocks, tokenizing yield, tokenizing treasuries. Where do you think all that sits? That sits on ledgers. Okay. So, they're utilizing crypto. Let's not forget what about the Clarity bill and the Genius bill. Genius Bill has passed. Clarity act is coming up. What is that? Well, all these companies are trying to get involved with stable coins. Where do stable coins sit on ledgers, right? So, the companies or the projects that operate these ledgers are going to benefit tremendously. ones like ETH which Tom Lee holds 5% of and soul and BSC and others like chain link ando whatever they're all going to benefit and then you got to think about all this digital ID digital just transferring digital currency and then not only that infrastructure right all this talk about infrastructure lack of it, lack of compute, lack of storage, lack of network, lack of

whatever redundancy, lack of power. There's a lack of a lot that exist in crypto because you have a lot of nodes that are sitting distributed across the world waiting to be used. A lot of crypto companies already offer this where you can loan out your GPU or CPU or storage from your computer and they offer you tokens, right? But that could help the AI companies. They just haven't really thought about it. They're all building our data centers, but you could definitely utilize a lot of these nodes. So there are many things that are complimementaryary but I think people aren't recognizing it. They're not seeing it. At least retail isn't okay. Um I think there are still companies and institutions that do and they will continue to load up because they understand these things and plus the macro side of course they still want to hedge against inflation and hedge against fiat. But if you really think about it, the two are complimementaryary. And like I said, when we have that rotation out, and we always do, there's always a correction, whenever you have very hyped up bubbles, okay? No matter what. Even last year, we saw with gold and silver, something that no one thought would ever happen. You saw silver went up like 10x within like three months. You saw gold go went up 2x within three months. Things that should never happen, but they do what they did. And then what happened? The bubble burst and they came back down, right? And the capital rotated out and a lot of the capital went into AI right after that. But I think we're going to see the same thing with AI. I [snorts] don't think it's anytime soon and I don't think these companies will go belly up. Like I said, once we have these kind of corrections, a lot will be weeded out and the strong will survive and become the powerhouses of the future just like 20 something years ago with the dot bubble, right? Um so point is stay in crypto if you are in crypto. Don't be fudded out. I think there are a lot of use cases, a lot of great things that are happening and will happen despite our current prices, which again, it's it seems like it's been forever, but it's only been really one week. I'll just give it two weeks. Two weeks ago, we were at we're sitting pretty at 80s and then we fell down to 70s. Last week we had a horrific week that brought us back down to 60, right? And that's where we are right now. But we were in recovery mode. We were looking good until a lot of the FUD that happened last week that really brought us down and brought the fear level back. We were sitting pretty recovering and then all this fear came back. It's just a overreaction. People are just so jaded by I guess what has happened in the last six months. They just want to get out as soon as there's a little sign of trouble. But unfortunately, you got to do the opposite. That's not how you build wealth. You got to get in when others are fearful, when others are leaving, right? When blood is in the streets. Um last couple things, Bitcoin demand

very low and that presents opportunity. Look at it spot and futures demand as low as 2020 COVID and the bottom of 2022. So we've only seen this a couple times. Right? All that fear causing a lot of retail to get out. But this is actually when you should be getting in. Think about if you bought Bitcoin at 3,000 or $4,000 in 2020 or 2022. You would have done pretty well. right now looks like it's one of those times on a shorter time frame. Actually, this is not shorter time frame. Same time frame again. Same thing. The bottom of 2022.

What happened? Kind of stood there for a while, formed a little camp, and then we kept going. We recovered, right? Looks like it's kind of the same thing, but obviously prices are much higher. I think people forgot 2022, 2023, we were still sitting below 20,000. We were at 15,000 for a long time, for over a year, like a year and a half. We've only been down for about six months. So, we are definitely moving quicker than before. And here's another one that kind of show the same thing. The tops and bottoms, how many days, right? What to expect if this continues, but you know, history tends to rhyme. Doesn't always repeat. It tends to rhyme. So the days, the number of days from top to bottom sometimes is a little off, but nevertheless, the pattern remains the same. whatever FUD that we're going through, we get through it and we just continue forward every single time. All right. Um, lastly, I saw this humanity protocol supposedly got hit by some exploit. The private key got hacked and the token

crashed like 90%. I think most people I could see this from a mile away and I purposely did not mention Humanity Protocol recently because it just didn't seem like it was right. It was skyrocketing for no reason and then all of a sudden it crashes down. There was a chart somewhere. It crashes down 90% due to an exploit. How convenient. Why was it pumping beforehand? Right? And that's why Zach XPTt has called this out. Says this looks stage. This doesn't look natural at all. See, unfortunately in crypto, we also have too many cases of this where, you know, supposed hacks are not really hacks at all. They're just insiders, inside jobs, you know. And it kind of sucks. I have no idea what humanity protocol does. I just know that, you know, it's been showing up on a heat map and a bubbles a lot going up and up and all of a sudden it goes down. But a good thing I already talked about the Zcash that went down last week majorly because of the exploit found by Claude. Uh looks like they want to

upgrade it and patch it of course and it's been doing well. It's been recovering a lot of Zcash fans out there. So good for you guys that helped. But there'll probably be more exploits found in the future. Um especially with bridges. We see a lot of it with bridges. So hopefully we can use these companies or projects are utilizing AI for good. Okay. Um utilizing it to find these exploits or being white hat hackers to find them and then report them for a bounty. Nevertheless, not do malicious things with the exploits. There should be more of that. And some of these projects are definitely loaded with their treasury. They should offer more bounties to give people incentive to find these exploits and patch them before they become serious threats. All right. Overall today, pretty green. If you're looking at the heat map, there are some that are turning green like Zcash right here, 9% today. You got uh Worldcoin that's still pumping despite Arthur Hayes selling off. I think a lot of it has to do with Open AI. Maybe I still think it could be a good play because of Open AI. You all Sam Alman has to do is just mention Worldcoin once and it'll explode. Um, but until that happens, I don't know. Uh, outside of that, there's really not much else. Uh, from economic standpoint, we have inflation that's coming up tomorrow and Thursday. That's pretty much it. All right, let's do some kune.

I'm either not getting enough sleep or I'm getting sick. These uh my chest feels kind of achy right now. So, I'm not going to talk too much in this Q& A. Maybe like 10 minutes and I'm will drop off. Slim, you're welcome. Uh are we getting rugpulled again with stocks pumping? Uh I don't think we're getting rugpulled. Okay. But there are FOMO. A lot of people are FOMOing. And when that happens, there is a little bit of rotation obviously. But you know what? I didn't check. I did show my video yesterday. Uh let's see. ETF inflow yesterday was still unfortunately a small net outflow minus 91 million minus 6 only for ETH. Uh less than a million for soul. I don't know XRP didn't register anything. Yesterday we still had a little bit of outflow, but I then noticed that if you look at liquidity, we added $800 million in liquidity. So obviously moving in the right direction. It doesn't make up for how much liquidity has come out of the market, but it's a step in the right direction having almost $800 million come in with stables. Okay, that means people are putting their money back in to buy. So, that's good. Um, yeah, the Siri update from Apple. Apple actually they went down after that announcement yesterday, whatever conference they had. They're going with Gemini. They're dropping Open AI and they're going Gemini. Basically, whatever AI features they're introducing is all from Gemini that already exists. So, they're just labeling it Siri AI, but it's really just Siri plus Gemini. Gemini has a lot of cool like features around video, pictures, stuff like that. But, and Gemini as AI is decent. They incorporate into Google searches now. So, uh by default, most people are using it. But as a LLM, as a coding agent, it it's really behind. It's really far behind GBT and Opus and some of the other ones um overseas, but you know, they're kind of going the way of anthropic with Claude. No, I mean they're going the opposite of Claude, which is really targeting consumers, and that's the right model. Uh and that's why they're the second biggest company on the planet. I branched out. I created a new one called Bitcoin returns. So the monthly price, monthly returns and then quarterly you can now see even ethereum right is under this new category called Bitcoin returns. It used to be under chain metrics. Uh but chain metrics has all this like MVRV ml and mayor multiple null all this stuff which I did showcase like this which shows us in accumulation stage a little clearer but that's all in there. today with stocks. Almost not almost everything, but you got some Good movers. Pretty good recovery all around. There are a lot in here that I have no idea what they are. Yeah, there's some weird ones in here. Never heard of them. Not a crazy day. Apple's down. [gasps] Apple after their announcement, they're down. People are not terribly impressed with Apple. Apple and yesterday's conference was their last was the last one from Tim Cook. Tim Cook is mixed bag. Um some people really liked what he did because uh obviously he made them the one of the biggest companies on the planet and you know improved some stuff basically maximized revenue and profits but really just no innovation at all. Apple has like no innovation zero. Um and they have zero presence as a big tech company. They're the only one with zero presence in AI. They have nothing. No investments in AI either. Nothing. So now they're trying to play catchup. Um inadvertently, you know, they sold a lot of Mac minis due to Open Claw and these agents, but that's about it. You know, Google, Nvidia, Microsoft, Amazon, I mean Meta, you name it. All these guys are all heavily into AI either with their own models or they have made investments or they're building. Apple's the only one that has zero presence. So now they're integrating Gemini. But you think about it, you think, now that I think about it, it's kind of weird, right? Because look at it. Apple and Google are neck andneck two and three and uh and you're using your competitor's product. Apple and Google are definitely big competitors in the phone space because there's only two. There's only Android and iPhones. And now you're basically utilizing your competitor's product. Uh, that's why Google's up 2% and Apple's down 2%. So, it's no good. After this Friday, we'll have SpaceX up here, too. All right, I'm going to get off. Not feeling so hot and I didn't sleep much. I've been working too much. Like I get very little sleep. that probably contributing to how I'm feeling today. All right. Well, stay strong, my friends. There's some good stuff happening in this space. A lot of good stuff. We will get through this FUD. We always do. So, stay strong, my friends. We'll see how today the rest of today goes with the US market rallying. It could definitely help crypto. So, smash it a like, subscribe to the channel. Have a good one.