Bitcoin & Crypto Crash… What Just Happened?

Bitcoin & Crypto Crash… What Just Happened?

the price of Bitcoin down why what is happening what is happening to cryptocurrency markets no bitcoin’s just down a little bit you’re altcoin bags it’s a new definition of pain and suffering I know I’ve got some of those same bags in this video I want to talk about what the heck is going on in the market why the market is spooking so much right now and some very interesting news because I think you need this perspective you need to hear this I know that these regular shakeouts in the market are so frustrating another rejection of 72k right but look big things are a foot we have more evidence that China might be coming back in a very big way to crypto some perspective on the ethereum ETF and much much more so let’s just have a drink of this small cup of coffee here it’s so small and talk about our crypto coins and I want to start off with this because just just for the lws you know the S&P 500 hit a new all-time high two days ago again again Bitcoin just can’t catch a break we keep D at 72k meanwhile the S&P out here hitting another new alltime high selling off slightly on the day today however this reminds me of previous Market Cycles where for example in 2019 2020 we saw the S&P 500 except for of course the covid sell off but up until that point we saw in 2019 and into early 2020 the S&P 500 hit multiple new highs well Bitcoin just stagnated interesting how it works like that sometimes really the markets can sometimes be very highly correlated and other times not so much it really depends on the attitudes of the market right now Bitcoin has come down to a very very key level after another Savage rejection at 72k have you figured it out yet every time we get rejected at 72k 1 Savage rejection two Savage rejection three Savage rejection four semi savish I mean it wasn’t that bad another semi Savage rection oh it’s interesting very interesting here let’s just move some lines around currently we are retesting the 50-day EMA that is the yellow line here on the chart we’ll see what the price does of course over the course of the rest of the day but right now just retesting that 50-day EMA normal normal normal nothing crazy nothing to worry about it’s all good that doesn’t bother me in the least bit it’s fine we could even come down retest 100 fine what you don’t want to do you don’t want to lose the 200 that’s where you know starts to hit the fan and uh yeah that’s under 56k right now if we go under there oh boy that’s a conversation for day we’re not anywhere near there at the moment we are just retesting of course the support from the 23rd of May the support from the 31st of May this was of course previous price resistance right in this Zone as well EST buing it as again an interesting area of price support again at the 50-day EMA so where we’re currently sitting I’m not too worried if of course by the time you watch this video have a giant nuke further down well we can discuss that tomorrow but right now not too shaken personally Byzantine General saying someone on coinbase is slamming slamming it you don’t just casually push the market sell but when you’re dumping tens of millions or hundreds of millions of Bitcoin no you slam that bad boy you break your keyboard throw it out the window and walk away and never come back again ah he said it’s not um not business hours yet Burger hours not business hours yet so you can’t buy it can’t be the E ETFs doing this it’s Wales doing it of course Dan pointing out that yesterday’s ETF flows finally broke the streak we had 19 days of straight inflows billions of dollars of straight inflows into Bitcoin ETF products including last week nearly $2 billion do for net inflows into bitco coin ETF products we have $64 million in outflows yesterday time for panic it’s all over two billion dollar last week subtract $64 million we still have about2 billion but hey you know what screw that is going to zero that’s the way the market feels sometimes highly reactionary highly emotional markets it’s crazy sometimes why is everyone freaking out well we have the inflation data coming in tomorrow we have the FED making a decision tomorrow if we’re going to see an increase decrease or staying of the same of interest rates everybody’s watching the macro scene what is drone pal gonna do and we will tell stories to our grandkids about the time when we used to all sit around waiting for Jerome pal to come out and tell us what the what the money was GNA do Central Banking what a joke anyway inflation currently forecasts stay the same now in terms of infl specifically if we see inflation coming in very hot so it comes in at 3.6% or something like that expect further correction potential in the market if it comes in at 3.4% or lower than expected 3.3 3.2 that should be good for the market so that’s something to keep in mind in terms of the interest rate decision I mean look interest rates they’re coming the only question is when we even have now political pressure being piled on um Joe mccan here saying I tried telling you the the rates are coming this is a letter from Senators Elizabeth Warren Elizabeth Warren anyway they said this in the letter said we write today to urge the Federal Reserve to cut the federal funds rate from its current two decade high of 5.5% the sustained period of high interest rates is already showing the economy is slowing the economy sorry and is failing to address the remaining key drivers of inflation furthermore the European Central Bank which like the FED has a mandate to steer inflation towards a target of 2% cut interest rates for the first time in 5 years it’s time for for the FED to do the same major central banks have cut rates or are leaning towards lowering rates the ECB cut its interest rates on Thursday from 4% to 3.75% on Wednesday the Bank of Canada cut rates becoming the first from the Group of Seven Nations to do so Sweden Switzerland Hungary Czech Republic and others and others have already cut rates I think New Zealand might have cut rates recently I think anyway other countries have the fed’s decision to keep interest rates High continues to widen the rate gap between Europe and the us as the lower interest rates could push the dollar higher tightening Financial conditions and of course the longer they keep those rates high they have 10 trillion dollars in debt rolling over this year if they don’t cut rates soon they have to refinance all that debt at this wildly higher interest rate which means the interest rate repayments are going to be so crushing for America they have to cut they can’t wait much longer now the silver lining here is if a cut comes it’s actually a positive thing because we don’t have a cut happening in recession when Cuts happen outside recessionary conditions it has historically been bullish for markets so there’s that to think about if a cut happens in recession it usually leads to a much further sell-off in markets but when Cuts happen in a non-recessionary environment right now the mark economy is stagnating a little bit slowing down a little bit has not hit a recession yet if the rate Cuts come before the recession then you have a situation where suddenly companies can borrow money for cheaper more liquidity comes into the market things start to recover Bob’s your uncle fanes your aunt all that kind of stuff and we’re going to be fine however they have a ticking Time Bomb here with these rate Cuts don’t do it soon enough everything falls to pieces do it too do it too quickly too aggressively it’s also potentially problematic for the market but they need to start cutting soon and the FED knows this and so we’re all waiting to see what dome’s to say tomorrow Ali pointing out here that uh by the way Bitcoin loves to rebound after fed meetings will tomorrow be an exception to that hard to say but he’s got them lined out here 25% bump up after the January meeting March meeting we saw 18% up may meeting we saw 15% up are we going to see a similar bump up post fed meeting this time we’ll update you tomorrow let you know now quick word about our altcoins I know I know guys I’m here two I’ve seen the pain I’ve seen the suffering my bags are down massively two we’re in the we’re all in it together it’s good time absolute devastation across altcoin land right now but it won’t be like that forever and I know there’s exceptional altcoins you know we have Brett and Benji go on massive rallies this week those base meme coins that was fantastic nice to see holding up my portfolio single SLE handedly right now other coins are down dramatically a lot of gaming coins that I’ve got into are struggling let’s say um other things like alternative layer one neiru chain cool cool blockchain man they’ve been down a lot since uh they’ve come into the market so this is this is what’s going on right now we are seeing a lot of liquidity flowing towards Bitcoin and ethereum understandably and we are seeing lot money going to alt uh altcoins particularly mean coins right now but a lot of other altcoin narratives are struggling where we don’t have this massive retail participation in the market right now it’s a lot of player versus player games between people who are already in the markets and playing the mem coin games who can get in and out the quickest and Shuffle money around from one person to another yeah there’s new people coming every day which is exciting however however right now we don’t have that big Mania going on in crypto I mean the prices reflect that obviously when we do that see that Mania phase come back all the altcoins get marked up big time but you know in terms of my altcoin positions I’m still holding most of my stuff right um I’ve taken some small amounts of profits on some things like niiro chain for example whenever I got my allocation of that one just as an example I took out my initial allocation took a tiny bit profit like 10K or something and then I’ve just been riding that bag down the whole time other things I’m just riding you know like my Brett bags my Jupiter bags my Benji bags my aerody Drome bags like like I’m just not worried about the volatility in my mind the salon thesis the base thesis it just seems so strong to me I don’t really care about the short-term volatility check back on me in 6 months 12 months 18 months 24 months and I’ve either cashed out for millions or it’s all gone to zero and we have to roll the dice again next time I don’t know but that’s crypto man and it’s a it’s a price that I’m willing to pay because I know we all love the side volatility but if you can’t stomach the downside volatility then this game may not be for you just keeping it real guys hey real real quick shout out to today’s sponsor which is polka dot guys polka dot super well primed for the realworld asset Trend that is coming up big time right now real world ass assets are gaining big Traction in the blockchain space with players like black rock of course coming in this could hit1 trillion on Chain by 20 30 as blockchain proves more efficient for moving transaction and verifying physical assets we’re going to see everything coming on real estate worth what quadrillions uh precious metals gold silver all that stuff can come on chain Commodities can come on chain artworks can come on chain intellectual property patents come on all this stuff a variety of Fiat currencies I know we have a lot of US dollar coins right now which is a real world asset on Chain by the way Commodities trading oil trading gas all this kind of stuff stocks and bonds bonds we’re already seeing bonds all this stuff starting to happen on chain now why is blockchain so well suited for this while traditional markets for these assets are IL liquid and opaque totally crap for a lot of this stuff okay you have no idea what’s going on liquidity is terrible especially for some of these more um let’s say exotic assets like artworks for example precious metals markets are pretty liquid right but some other things not so much not so much right pood do positions itself in a great position to dominate The Real World asset Marketplace due to their security their stability and of course rwas are from traditional markets and they’re influenced by those blockchain biases thus seeking reliable secure scalable affordable platforms so they’re not necessarily going to want to go to Solana for example where you know we have centralization perhaps more of an issue compared to some other blockchains they’re not seeking the lowest Poss fees they’re willing to pay 10 cents or 50 cents or a couple dollars for a fee they don’t need subs Cent fees in order to trade $10 worth of degenerate meme coins they’re bringing $10 million in Bonds on chain they’re willing to pay for security right because it’s still way cheaper and way more efficient than using the Clearing Houses which only operate Monday to Friday 9 to5 this is going to bring real world assets on line 247 and with black rock in the game I think it becomes hard to ignore the potential of this asset class if you want to know some of the big movers and shakers right now on the polka dot ecosystem that you should go and check out and follow not a recommendation to buy any of this stuff right guys this is just if you want to learn more about the rwa space in the polka dot World these are the projects to go and check out centrifuge you can check out energy web you can check out arisal you can checks out excavate you can see all their Twitter handles here fiken great name great name fiken don’t be fiking around out there aggro token as well so go check these guys out see what they’re doing see how they’re shaking up the rwa space in the crypto World particularly in the polka dot ecosystem thanks again to the polka dot team for sponsoring today’s conversation now I know first half of the video Doom and Gloom and if you made it this far congratulations because I’ve got some big news for you and this is again everything we talk about here on the channel when you start to put all the pieces together and that’s what I’m focused on I’m focused on the big picture day-to-day volatility I don’t care I don’t care it doesn’t matter to me that’s but that’s me as an investor maybe it was really important to you maybe you’re overleveraged and you’re Overexposed to Absolute dog coins I get it I get it we’ve been there okay everyone’s been there everyone’s done that but big picture stuff big picture stuff where’s the market going Bitcoin ethereum remember are 60 to 70% on any given day of the entirety of the cryptocurrency market and here we have China China slowly coming back interesting things are happening in China we’re going to do a full video breakdown on this for you in the next few days maybe next week or something but very big things are happening because last week we got this news that biit is going to start allowing Chinese Nationals to register on the platform again which is a huge turnaround and massive potential for liquidity injection obviously but then you have the biggest bank in the world the $6.2 trillion industrial Commercial Bank of China very boring Name by the way anyway they have written notes to investors about Bitcoins over the last few months highlights including Bitcoin has youi cross border transfers and payment functions Bitcoin May benefit from the end of the USD rate cycle and debt crisis in marginal countries Bitcoin retains the scarcity similar to Gold through mathematical consensus while solving his problem of being difficult to divide difficult to identify authenticity and inconvenient to carry literally the biggest bank in China biggest bank in the world out here saying bitcoin’s better than gold are you hearing this are you hearing this it’s absolutely crazy it’s happening guys it’s happening you have to understand these big banks in China they’re not saying this stuff without some kind of blessing from the powers the be watch what’s happening not what they say watch what they’re doing Always by the way I know it’s quite funny for me and I don’t know if you feel the same about it but it think about what the price is doing right now think about where the markets are right now and it’s like everybody forgot that was it two weeks ago we got spot ethereum ETFs approved now they haven’t been approved for listing yet but they have been approved to be able to be offered in the markets now we just have to fin finalize these s-1 uh applications which it’s just a procedural thing and then what then we have ethereum ETFs then you have 70% of the entire crypto currency Market represented by Bitcoin and ethereum will now have spot access to us markets chines markets um remember China’s going to get all this stuff too I know people oh it’s just Hong Kong it’s just one city it’s not that big of a deal dude there’s this thing called stock connect stock connect connects the exchanges in Hong Kong shenzen which is in mainland China and Shanghai which is of course the mainland China so these products are coming it’s only a matter of when not if when and if you’re fading all this if you can’t put the big picture together if you can’t stomach the volatility then I don’t know what to tell you because big things are happening in this market and big things are coming to the market hey by the way real quick note as well uh before we finish up this conversation guys if you were farming the ZK sync airdrop with me uh I don’t know how many videos we made on this how many times you mentioned it in the newsletter how many times we have spoonfed you the information so if you did not get the ZK sync airdrop you have no one to blame but yourself okay because we put the information out there so many times but I really hope that you did I really hope that you did anyway the claim is live now um go and find their official page on X and check there or you can go to claim. zk. okay it’s just a checker now the claim’s not open but you can take your address paste it in here and see if you’re eligible for the airdrop but if you’ve been doing the things we’ve been talking about in the newsletter if youve been doing the things we’ve been talking about here on the channel talking about on X for literally like the last year or something like that then you’re probably going to be eligible for at least something potentially a lot so I hope that you did get some coins from this airdrop because hey free money great isn’t it yes it is and I hope that you got some of it from this airdrop guys thank you so much for watching today’s stream I appreciate you and I’ll see you in the next one

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Everything expressed here is my opinion and not official investment advice – please do your own research before risking your own money. Lark Davis (The Crypto Lark and affiliated brand Wealth Mastery) is not providing you individually tailored investment advice. Nor is Lark Davis registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. Lark Davis is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.