Bitcoin stayed above $65,000 for four straight weeks despite five major negative headlines: war-driven oil spikes, the Fed signaling rate hikes instead of cuts, stalled crypto regulation, missed stablecoin deadlines, and firms selling Bitcoin to repay debt. The presenter sees seller exhaustion and a price floor forming, views current levels as a strong entry point, and is accumulating Bitcoin.
Everything went wrong with Bitcoin and the price went up. In the last 6 days, crypto got hit with 5 separate pieces of terrible news. Bitcoin actually closed at a higher level price-wise 4 weeks in a row, and that's not supposed to happen. And once you see why, you won't look at the next Wednesday that's coming up the same way with the Federal Reserve. Here's the list. Oil spiked on war headlines. The Fed went from talking about cutting rates to talking about raising them. The big crypto bill, which is the Clarity Act, stalled out. The stablecoin rulebook missed its own deadline, and the companies that borrowed money to buy Bitcoin started selling that Bitcoin to pay the actual debt back of the treasury company. Now, if we talked about this like 6 months ago, any one of these would have probably hit Bitcoin's price by like 10 to 20%, but instead we're above $65,000, and money kept flowing into the Bitcoin funds 3 straight weeks of money flowing in. So what does that tell you? When bad news stops moving price, it usually means that the people who wanted to sell already sold. That's the whole idea. The sellers are gone. That's the people that are scared. They're gone. They left months ago. So the headlines are landing and there's nobody left to actually panic. What it means is that these big dogs are trying to get a cheaper price. Traders call it exhaustion. I call it a potential floor forming for Bitcoin's price. Now, Wednesday is real. We need to pay attention. The Federal Reserve meets, and for the first time this cycle, the fear isn't a cut, it's actually a hike. And the CME FedWatch tool has the odds of the rate increase around 1 in 3. Polymarket has it closer to 1 in 5. A few weeks ago, both were near zero. Growth and inflation numbers hit Thursday. If those run hot, we'll hear about probably more hikes coming this fall. Now, that's the bad news because more increase of hikes means stricter liquidity conditions. And I think that's the last thing that could potentially bring the crypto market down. So let me be straight with you about where I personally stand. I'm not calling an official bottom, but I'm pretty much moving like it. Nobody can know exactly where the market's going. But I really believe that this is a great entry price. I'm accumulating assets, restructuring my portfolio, and pivoting myself for the future. Nine months of pain down about half from the top of Bitcoin's price. Every headline went the wrong way, and the price stopped going down with them. That's not weakness. That's a market that's already ate the damage, and it's waiting for a reason to move. So watch Thursday and Friday. Watch whether we make a new low or bounce off the same level we've been holding for a while. Watch the flow funds because bull markets don't start with good news. I don't know. Told you that. They actually start when bad news stops working and sellers are exhausted.
