It’s bloody out there.

Both the crypto market and stock market are experiencing strong pullbacks, but let’s focus on crypto.

Clearly, the relief rally we’ve been tracking for months has come to an end. Bitcoin broke down and revisited the lows we saw back in February.

At first glance, that sounds terrible.

But here’s the good news—and why I’m turning extremely bullish.

Fear Is Back. Extreme Fear.

The crypto market has once again entered extreme fear territory.

We’re seeing mainstream commentators pile on. Jim Cramer recently declared that Michael Saylor’s “murdered Bitcoin” because the company sold 32 BTC.

Think about that for a moment.

The market is panicking over a sale of 32 BTC from a company that holds hundreds of thousands of Bitcoin.

That’s the kind of irrational sentiment that often appears near major turning points.

The Real Signal: Extreme Oversold Conditions

The most important factor right now isn’t the headlines—it’s the charts.

The RSI on both Bitcoin and Ethereum’s daily charts has reached historic oversold levels, even worse than what we saw during the February 2026 selloff.

These are the types of conditions that typically occur when sellers become exhausted.

Markets don’t move in one direction forever.

They’re cyclical.

And when fear reaches extremes while technical indicators become deeply oversold, the setup for a major reversal begins to form.

Bears Are Losing Momentum

Another encouraging signal:

The MACD on both Bitcoin and Ethereum is showing bearish momentum fading.

While price has continued to struggle, momentum indicators are telling us that the selling pressure is weakening.

This doesn’t mean we immediately moon from here.

But it does suggest the market may be approaching an important inflection point.

Bitcoin Is Back in the Cheap Zone

According to analysis from Crypto Currently, Bitcoin has now entered the cheap zone and is approaching the very cheap zone.

Historically, these zones have presented some of the best long-term opportunities for patient investors.

I’m personally buying the dip.

Not because I know exactly where the bottom is—but because the risk/reward is becoming increasingly attractive.

The February Sweep Looks Bullish

One of the most constructive developments from this recent selloff is that Bitcoin made a very clean sweep of the February lows.

Even more importantly:

Bitcoin managed to reclaim and close back above the 200-Week Moving Average.

Historically, the 200WMA has served as one of the most important long-term support levels in crypto.

Holding above it strengthens the bullish case significantly.

It’s important to note that the Bitcoin MVRV is at levels not seen since February 2026 showing both short term and long term traders are underwater.

Patience Is Still Required

I want to be clear:

This doesn’t mean we’re going straight up from here.

The market still needs time to process the recent volatility.

There may be additional chop.

There may be more fear.

But when I look at:

• Extreme fear sentiment

• Historic oversold conditions

• Fading bearish momentum

• Bitcoin entering the cheap zone

• A successful retest of major support

I can’t ignore how bullish this setup is becoming.

🔥 Major Crypto News

🏦 Major U.S. Banks Building Tokenized Deposit Network

JPMorgan Chase, Bank of America, Citigroup and other major lenders plan to launch a shared tokenized deposit network through by the first half of 2027.

The goal:

• 24/7 settlement

• Blockchain-based bank deposits

• Faster transfers and payments

This is the banking industry’s answer to stablecoins like USDC and USDT.

🏢 Goldman Sachs Enters Tokenized Real Estate

Investment bank Goldman Sachs has teamed up with fund servicing giant Apex Group and digital asset exchange Archax to tokenize real estate. Infrastructure provider Ownera and real estate investment manager LRC Group are also included in the debut of the blockchain-native real estate fund. The tokenization trend continues to accelerate.

💳 Mastercard Expands Stablecoin Settlement

MasterCard has expanded settlement capabilities to support regulated stablecoins including:

• USDC

• RLUSD

• PYUSD

Across:

• Ethereum

• Solana

• Base

• Arbitrum

• XRP Ledger

This pushes Mastercard closer to an always-on, blockchain-powered settlement network.

🌍 Stripe, Visa & Mastercard Building Stablecoin Platform

Global payment networks Stripe, Visa and Mastercard are close to introducing a new stablecoin platform, according to three people familiar with the plans. U.S.-listed cryptocurrency exchange Coinbase (COIN) is also looking into the possibility of participating in the stablecoin platform, one of the people said.

The world’s largest payment companies continue moving deeper into crypto infrastructure.

🧩 Final Thoughts

When markets are euphoric, everyone wants to buy.

When markets are in extreme fear, most people want to sell.

Yet history has shown that some of the greatest opportunities emerge when sentiment reaches maximum pessimism.

I’m not saying we’ve definitively seen the bottom.

But I am saying that:

• Fear is extreme

• Technicals are washed out

• Sellers appear exhausted

• Institutions continue building

And that’s why I’m becoming increasingly bullish on what comes next.

Stay patient. Stay objective.

The market may be setting up for something much bigger than most people realize.

___________________________________________

💥Thank You to my show Sponsors

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___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

Top Gainers in Social Dominance

Top Losers in Social Dominance

___________________________________________

📺 Recent Interviews

Marc Boiron, CEO of Polygon Labs, joined us to discuss the growing adoption of stablecoins and tokenization on the Polygon blockchain.

Xen Baynham-Herd, Head of Growth at Base, joined us to discuss the growing adoption of Coinbase's Base network.

Eunice Giarta, Co-Founder and General Manager at the Monad Foundation, joined me to discuss how Monad, as a high-performance Layer 1 blockchain, is aiming to address the scalability limitations of existing networks such as Ethereum.

________________________________________

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-Tony

All eyes are on the Bitcoin chart right now.

Bitcoin is sitting at a pivotal level where the next move could determine whether:

• The relief rally continues
  or

• We begin another major leg down in the bear market

Here’s where things stand.

📊 Bitcoin Losing the Rising Channel

Bitcoin is starting to break down from the rising channel it has been trading in since the rally from the $58,000 low set in February to the recent $82,000 high in May.

This is a very important structure to watch.

🎯 Key Level: $70,500

Bitcoin absolutely needs to hold the $70,500 level.

If it loses that support:

• The probability of a bear flag breakdown increases significantly

• Lower price targets come into play

This is the line in the sand for bulls right now.

🟢 The Bullish Signal: RSI Oversold

One positive sign:

👉 The daily RSI is back in the oversold zone.

By textbook technical analysis:

• Oversold conditions usually precede a bounce

• Short-term relief rallies often begin from these levels

Adding to this:

• The S&P 500 and Nasdaq continue to make new highs

  

That broader market strength is supportive for crypto.

🔴 The Bearish Signals

Despite the oversold RSI, there are still reasons for caution.

Daily MACD

• Bears remain in control

Weekly MACD

• Bulls continue losing momentum

Momentum indicators are still favoring downside pressure overall.

🧠 The Saylor/Strategy Psychological Impact

Another development adding fuel to bearish sentiment:

Michael Saylor’s Strategy announced the sale of 32 BTC for over $2.5 million.

Now, financially speaking:

• This amount is tiny relative to their holdings

But psychologically?
👉 It matters.

For years, Saylor’s message was:

“Never sell your Bitcoin.”

So even a small sale changes investor perception and introduces uncertainty into the narrative.

🪙 Altcoins Will Follow Bitcoin

As always:

• Altcoins will move with Bitcoin

• If BTC breaks down → alts likely dump harder

• If BTC holds support and bounces → alts should rally as well

The ideal bullish scenario here is:

✅ Bitcoin holds $70,500
✅ Bears get trapped
✅ A short squeeze ignites the next leg higher

That’s what bulls need.

⏳ Patience Is Critical

There are no guarantees here — only probabilities.

The market is at a decision point and we need confirmation before making strong conclusions.

Patience and discipline remain key.

🔥 Major Crypto News

🏦 Jamie Dimon Attacks Stablecoin Yield

Jamie Dimon, CEO of JPMorgan, criticized and warned that the current CLARITY Act framework could fail over stablecoin yield disputes.

Dimon stated:

“The banks will not accept it that way… it will eventually blow up.”

The core conflict:

• Banks oppose yield-bearing stablecoins

• Crypto firms see them as essential innovation

This battle remains one of the biggest sticking points in U.S. crypto legislation.

🌐 DTCC Selects Stellar for Tokenized Securities

U.S. clearing giant DTCC picked Stellar as the first public blockchain to connect to its upcoming tokenized securities settlement platform.

The integration includes:

• Compliance tools

• Identity controls

• Transfer restrictions

• Asset clawback functionality

This is another massive institutional step toward tokenized capital markets.

📈 U.S. Approves Bitcoin Perpetual Futures

The U.S. Commodity Futures Trading Commission has given approval for bitcoin perpetual futures contracts on a regulated exchange run by Kalshi

This marks:
👉 The first domestic U.S.-regulated Bitcoin perpetuals market.

The CFTC also approved a path for a Coinbase affiliate to offer global options and perpetual futures access.

🇺🇸 Strategic Bitcoin Reserve Bill Introduced

Congressman Nick Begich (AK-AL) and co-lead Congressman Jared Golden (ME-02) have introduced the:

American Reserve Modernization Act of 2026 (ARMA)

The bill would establish:
👉 A Strategic Bitcoin Reserve within the U.S. Treasury.

The legislation launched with:

• 17 bipartisan co-sponsors

• Support spanning multiple states

Momentum behind a U.S. Bitcoin reserve continues growing.

🧩 Final Thoughts

Bitcoin is at a critical technical level.

• RSI says a bounce is near

• MACD says caution

• Stocks remain supportive

• Macro uncertainty remains elevated

The next move from here could shape the next phase of the market.

👉 Hold support and rally higher
or
👉 Lose support and revisit much lower prices

Stay patient. Stay objective.
And let the market confirm direction before getting overly bullish or bearish.

___________________________________________

💥Thank You to my show Sponsors

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

BitGo is the leading infrastructure provider of digital asset solutions, offering custody, wallets, staking, and trading.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

Top Gainers in Social Dominance

Top Losers in Social Dominance

___________________________________________

📺 Recent Interviews

Dennis Porter, Co-Founder and CEO of Satoshi Action Fund, joined me to discuss the new U.S. Bitcoin Reserve bill and the likelihood of the U.S. government being able to buy Bitcoin for its reserve.

Ryan Rugg, Global Head of Digital Assets for Citibank’s TTS business, joined us at the Solana Policy Institute’s Summit to discuss Citibank’s digital asset, tokenization and blockchain initiatives. We dive into the nuances of tokenized deposits and stablecoins and much more.

Austin Federa, Co-Founder of DoubleZero and former Head of Strategy at the Solana Foundation, joined us to discuss how the company is building a new internet layer to improve blockchain and crypto performance.

Christopher Perkins, CEO of 250 Digital Asset Management, joined us to discuss Franklin Templeton launching a dedicated cryptocurrency division with a planned acquisition of crypto investment firm 250 Digital.

________________________________________

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🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

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-Tony

The crypto relief rally is running into a major roadblock.

Bitcoin failed to break through:

• $82,000 resistance

• The 200-Day Moving Average

That’s not what bulls wanted to see.

And naturally, altcoins — which had started showing strength — are now pulling back alongside BTC.

📊 Where Things Stand

Despite the pullback, Bitcoin is still trading within its rising channel.

However…

If BTC drops toward the bottom of the channel around $71,000, the probability increases that we complete a bear flag breakdown, potentially sending Bitcoin into the:

• Low $50Ks

• Or even high $40Ks

That’s the bearish setup currently on the table.

⚠️ Momentum Is Weakening

Some concerning signals:

🔻 Daily MACD flipped bearish

Momentum has shifted back toward sellers on the short timeframe.

📉 Weekly MACD shows bulls losing momentum

This doesn’t mean immediate collapse — but it does show the rally is weakening.

🎯 Key Level: $75K

Bitcoin absolutely must:

• Hold above $75,000

• Print an impulsive bounce

  

If that happens:
👉 The rally still has a chance to continue and eventually break through $82K.

If not…
👉 The bearish scenario becomes much more likely.

📉 Stock Market Pullback Adds Pressure

The stock market was overheated and finally started correcting.

Both the:

• S&P 500

• Nasdaq

were sitting deep in the overbought zone.

A pullback was expected — and crypto is now feeling the pressure from broader risk-off sentiment.

🔮 What Happens Next?

🟢 Scenario 1 — Relief Rally Continues

• Stock market sees only a shallow pullback

• Bitcoin holds $75K support

• BTC resumes rally in coming weeks

• Altcoins follow higher

This remains the more constructive scenario.

🔴 Scenario 2 — Deeper Bear Market Leg

• Stock market correction intensifies

• Geopolitical fears escalate (Iran war, etc.)

• Bitcoin breaks support

• BTC drops into:

  • Low $50Ks

  • Or high $40Ks

This is the major risk setup right now.

🧠 Why Scenario 1 Still Has Higher Probability

A couple important macro signals stand out:

🚀 SpaceX Accelerates IPO Timeline

Reports indicate SpaceX is targeting a June 12 Nasdaq listing.

Let’s be realistic:

• Elon Musk is not going to rush an IPO into a collapsing market

• Companies go public during bullish environments — not crashes

That’s an important sentiment signal.

🏛️ CLARITY Act Progress + Bitcoin Reserve Update

After advancing through the Senate Banking Committee, the CLARITY Act is expected to continue progressing through the Senate.

In addition:
Patrick Witt, White House crypto advisor, recently stated a major Strategic Bitcoin Reserve update is coming soon.

Both developments are long-term bullish catalysts for crypto.

🔥 Major Crypto News

🇮🇷 Iran Launching Bitcoin Maritime Insurance Platform

Iran is reportedly launching Hormuz Safe, a Bitcoin-settled maritime insurance platform targeting shipping through the Strait of Hormuz and Persian Gulf.

Projected revenue:
👉 Over $10 billion

Ironically, this situation could accelerate the U.S. government’s push toward acquiring Bitcoin for its own Strategic Bitcoin Reserve.

🏦 JPMorgan Expands Tokenization on Ethereum

JPMorgan Chase filed to launch a tokenized Treasury money-market fund on Ethereum: JPMorgan OnChain Liquidity-Token Money Market Fund

The product is designed to help stablecoin issuers meet reserve requirements under the GENIUS Act.

🌍 Bermuda Moves National Economy Onchain

The Bermuda government is partnering with the Stellar Development Foundation to migrate parts of its national economy onto the Stellar network.

Use cases include:

• Payments

• Financial services

• Government infrastructure

💰 Circle’s Arc Blockchain Raises $222M

Circle raised $222 million in the presale of a token tied to its new Arc blockchain.

Key investors include:

• Andreessen Horowitz

• BlackRock

• Apollo Global Management

• Intercontinental Exchange

The network now carries a fully diluted valuation of $3 billion.

🧩 Final Thoughts

The market is at a critical crossroads.

• Bitcoin failed at major resistance

• Momentum is weakening

• Stocks are pulling back

But:

• Key support still holds

• Macro catalysts remain positive

• Institutions continue building aggressively

The next few weeks will likely determine whether:
👉 This relief rally continues
or
👉 The bear market resumes in full force

Stay patient. Stay disciplined.
And let the charts confirm the next move.

___________________________________________

💥Thank You to my show Sponsors

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

BitGo is the leading infrastructure provider of digital asset solutions, offering custody, wallets, staking, and trading.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

Top Gainers in Social Dominance

Top Losers in Social Dominance

___________________________________________

📺 Recent Interviews

Landon Zinda, Counsel to the Chairman and Senior Advisor for the Crypto Task Force at the Securities and Exchange Commission, sat down with us at the Solana Policy Institute’s Summit to discuss the SEC’s guidance on crypto securities, crypto wallets, tokenization, the Clarity Act, and more.

Morgan Krupetsky, Vice President of Onchain Finance at Ava Labs, sat down with me to discuss the latest adoption news for Avalanche and AVAX.

________________________________________

Support the Podcast

🖥️ Crypto Course

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📖 ReThinking Crypto Book

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-Tony

Bitcoin had its run… and now it is the Altcoins’ turn.

This doesn’t mean Bitcoin is done — but if we stick to the thesis that this is a relief rally, then BTC has likely completed the majority of its upside move… even if it pushes toward $85K.

Now, all eyes are shifting to Altcoins — and the data is starting to confirm it.

📊 Market Breadth Is Expanding

One of the clearest signals:

👉 The TOTAL3 chart (altcoin market cap excluding BTC & ETH) has broken out.

• MACD has flipped bullish

• Structure looks similar to when Bitcoin started its rally

This is exactly what we want to see when capital rotates into altcoins.

🚀 Altcoin Breakouts Already Happening

We’re not just seeing theory — we’re seeing action.

Projects like SUI and ONDO are already showing strong breakout patterns, leading the early phase of this move.

📉 Bitcoin Dominance Breaking Down

Another key confirmation:

👉 Bitcoin Dominance is dropping

This signals:

• Capital rotating out of BTC

• Liquidity flowing into altcoins

Historically, this is one of the strongest indicators of an altcoin rally phase beginning.

⏳ Still Early — Large Caps Haven’t Moved Yet

Despite the early signals, we’re still in the early innings.

We’re waiting for confirmation from major players like:

• Ethereum

• XRP

• Solana

Once these large caps begin to rally:
👉 That’s when the move becomes broad and powerful

Patience is key here.

🏛️ Catalysts Fueling the Move

There are also strong narratives supporting this rotation:

🟢 CLARITY Act Progress

The crypto market structure bill is moving into the markup phase, a major step forward for regulation.

🇺🇸 U.S. Bitcoin Reserve Update Incoming

We’re expecting a major update from the Trump administration this week.

👉 Be sure to check out my interview with Cody Carbone where we break this down in detail.

These narratives are helping drive confidence and capital into the market.

📈 Stocks Still Supporting Crypto

The broader market is also providing tailwinds:

• S&P 500 → New all-time highs

• Nasdaq → New all-time highs

• Russell 2000 → New all-time highs

This risk-on environment is exactly what crypto needs.

⚠️ But Don’t Ignore the Risks

We have to stay grounded.

🔴 Stock Market Is Overheated

• RSI is in overbought territory

• A pullback could happen at any time

🌍 Geopolitical Risk

• The Iran conflict could escalate

• That could trigger a broad market correction

If stocks pull back hard, crypto will likely follow.

🧩 Final Thoughts

The rotation is beginning.

• Bitcoin led the move

• Altcoins are starting to wake up

• Breadth is expanding

• Dominance is dropping

But we’re still early.

👉 Watch for large caps to confirm
👉 Watch the stock market closely
👉 Stay patient and disciplined

The next phase of the market is unfolding.

___________________________________________

💥Thank You to my show Sponsors

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

BitGo is the leading infrastructure provider of digital asset solutions, offering custody, wallets, staking, and trading.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

Morgan Krupetsky, Vice President of Onchain Finance at Ava Labs, sat down with me to discuss the latest adoption news for Avalanche and AVAX.

James Seyffart, Senior Research Analyst at Bloomberg Intelligence, sat down with us at the Solana Policy Institute's Summit to discuss Morgan Stanley's Bitcoin ETF, BlackRock's potential altcoin ETFs, outlook on the crypto ETF market, and much more.

Frank Holmes, Co-Founder of HIVE Blockchain Technologies, joined me to discuss the current state of Bitcoin mining and HIVE’s AI data center solutions.

________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

Bitcoin has officially crossed $80,000 again — the first time since January 2026.

For over a month, we’ve been tracking this relief rally, targeting the $80K–$85K range. But getting here hasn’t been easy — it’s been a full-on battle between bulls and bears.

And that battle is still ongoing.

⚔️ The Battle Continues: MACD Whipsaw

Late last week, things looked shaky:

• Bitcoin’s MACD printed a bearish cross → signaling a potential end to the rally

• Then suddenly… it flipped bullish again yesterday

That kind of whipsaw action shows just how contested this price zone is.

👉 Even as I’m writing this, the fight for control continues.

📊 Technical Breakouts: A Bullish Shift?

There are some very important technical developments:

🔹 Trendline Break

Bitcoin has broken through its descending trendline, which is a key bullish signal.

🔹 Rising Channel

The current rising channel structure suggests:

• Potential for higher prices

• Continuation of the relief rally (if structure holds)

📈 Higher Timeframes Confirm Strength

Weekly Chart

• RSI near neutral → plenty of room to move higher

• MACD flipped bullish → momentum shifting back to bulls

Monthly Chart

• RSI is turning upward

• MACD shows bears losing control

These are the types of signals we typically see when:
👉 A bottom is forming or already in

⚠️ The Macro Warning: Stock Market Overheating

We can’t ignore what’s happening in equities.

Both the:

• S&P 500

• Nasdaq

are now:

• In overbought territory

• Showing weakening momentum on MACD

This matters because:

👉 Crypto often follows equities
👉 A stock market pullback could limit crypto upside

🎯 What Happens Next?

Here’s the most probable near-term scenario:

• Bitcoin pushes into the $80K–$85K range

• Possible overshoot toward high-$80Ks

• Altcoins follow with a mini relief rally

But remember:

Nothing is guaranteed — only probabilities.

This is still a relief rally environment, not confirmed new all-time highs (yet).

🔥 Major Crypto News

🏛️ CLARITY Act Moves Forward (With a Trade-Off)

The crypto market structure bill — the CLARITY Act — is moving into the markup phase after a compromise on stablecoin yield.

Key detail:

• Stablecoin issuers will be prohibited from offering yield

The reasoning:

• Protect traditional banking institutions

• Prevent competition with deposit-based financial services

👉 While this is a loss for consumers, it’s a win for legislative progress.

Big picture:

• Clears a major roadblock

• Increases odds of passage

Prediction market Polymarket now shows a 64% chance President Trump signs it into law this year.

🏦 DTCC Tokenization Platform Incoming

The Depository Trust & Clearing Corporation (DTCC) — which processes ~$114 trillion annually — is planning:

• July pilot

• October launch

for a tokenized securities platform.

This is one of the biggest TradFi-to-blockchain integrations yet.

🌍 Western Union Stablecoin Goes Live

Western Union has officially launched its USDPT stablecoin on Solana.

Key highlights:

• Federally regulated digital dollar

• Issued by Anchorage Digital

• Integrated across 200+ countries

👉 This is real-world global payments infrastructure moving onchain.

📺 Be sure to check out my interview with Malcolm Clarke (VP of Digital Assets at Western Union) where we break this down in detail.

🧩 Final Thoughts

Bitcoin reclaiming $80K is a big milestone.

• Technicals are improving

• Higher timeframes are turning bullish

• Institutions continue building

But…

• The stock market is stretched

• Resistance is strong

• The rally is still being tested

👉 The next few weeks will be critical.

Stay patient. Stay objective.
Let the data — not emotions — guide you.

___________________________________________

💥Thank You to my show Sponsors

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

BitGo is the leading infrastructure provider of digital asset solutions, offering custody, wallets, staking, and trading.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

John D’Agostino, Head of Strategy at Coinbase Institutional, joined me to discuss the institutional race toward crypto, blockchain, and tokenization.

Marisa Coppel, Assistant General Counsel at Phantom, joined me to discuss the CFTC issuing no-action relief for the firm’s self-custodial crypto wallet.

Patrick Wilson, General Counsel at the Solana Policy Institute, joined me to discuss the need for crypto tax legislation, the Parity Act, the Clarity Act’s passing timeline, and much more.

________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

Happy Friday! Bitcoin is on the move, crossing $78,000 today, showing strong momentum as the relief rally continues to unfold.

Let’s break down where we stand.

📊 Bitcoin Technicals: Bullish Momentum Building

🔹 Daily Chart

• RSI is approaching the overbought zone → expect a pullback soon

• But a pullback does not mean the rally is over

• As long as BTC holds key support, the trend can continue higher

• MACD shows bulls firmly in control

🔹 Weekly Chart

We’re seeing meaningful strength here:

• MACD has flipped bullish — first time since September 2025

• RSI moving away from oversold levels, signaling room for upside

This is a strong shift in momentum on higher timeframes.

🔹 Monthly Chart

Zooming out further:

• MACD shows bears losing momentum

• RSI is turning upward, similar to levels seen at prior bear market bottoms

These are the kinds of signals that often appear early in major recoveries.

🎯 Price Targets: How High Can This Rally Go?

If momentum continues, Bitcoin could:

• Push into the mid $80Ks

• Potentially test $90K before a correction

But here’s the key technical moment:

📉 Bitcoin is testing a descending trendline (2nd time this year)

👉 A confirmed breakout would strengthen the case for the relief rally continuing.

This is a critical level to watch.

📉 Don’t Ignore a Pullback

Even in a bullish setup, we need to stay realistic.

A pullback is very likely given:

• Daily RSI nearing overbought

• Rapid price movement

And we must acknowledge the downside scenario:

👉 Bitcoin could still correct into the $50K–$40K range

Not the preferred outcome — but a possibility we must be prepared for.

📈 Stock Market Strength = Bullish Tailwind

The S&P 500 just hit new all-time highs in an aggressive move.

This is a major tailwind for crypto.

However:

• RSI is nearing overbought

• A short-term pullback in equities is likely

As always, crypto will take cues from broader markets.

🪙 What About Altcoins?

If Bitcoin continues higher:

👉 Altcoins should follow

Momentum is already building, and historically:

• BTC leads

• Alts follow with higher beta moves

The key is Bitcoin maintaining strength.

🧠 Big Picture

We don’t know exactly how high this relief rally goes.

But we do know:

• Momentum is building

• Higher timeframe indicators are improving

• Macro conditions remain supportive

My Thesis:

I remain long-term bullish, with expectations that markets continue to rally into late 2026.

Why?

• Political incentives to keep markets strong ahead of midterms

• A new Fed Chair aligned with growth policies

• Continued liquidity support

🔥 Major Crypto News

🏦 Goldman Sachs Files for Bitcoin Income ETF

Goldman Sachs filed to launch a Bitcoin Premium Income ETF, offering BTC exposure combined with options strategies to generate yield.

This targets investors looking for income + exposure, not just price appreciation.

💼 Charles Schwab Launches Spot Crypto Trading

Charles Schwab announced Schwab Crypto™, enabling direct trading of:

• Bitcoin

• Ethereum

With:

• Educational tools

• Professional support

Another major TradFi player enters spot crypto.

🏛️ Morgan Stanley Doubles Down on Tokenization

Morgan Stanley CFO stated tokenization is the next major step for its multi-trillion-dollar wealth business.

This follows the firm’s recent Bitcoin ETF launch.

⚖️ SEC Clarifies Crypto Interface Rules

The U.S. Securities and Exchange Commission issued guidance stating that certain crypto interfaces:

• Supporting self-custodial wallet transactions

• Facilitating user-initiated trades

👉 May not require broker-dealer registration in some cases

This is a meaningful step toward clearer regulatory boundaries.

🧩 Final Thoughts

Bitcoin is showing strength.
Momentum is building.
The trend is improving.

But we’re not out of the woods yet.

👉 Watch the trendline breakout
👉 Expect volatility
👉 Stay prepared for both upside and downside scenarios

The market is setting up — now we wait for confirmation.

___________________________________________

💥Thank You to my show Sponsors

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

BitGo is the leading infrastructure provider of digital asset solutions, offering custody, wallets, staking, and trading.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Medi

___________________________________________

📺 Recent Interviews

Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, sat down with us at the Solana Policy Institute's Summit to discuss the latest updates on the Clarity Act, the stablecoin yield compromise, the Strategic Bitcoin Reserve, and more.

Mike Belshe, Co-Founder and CEO of BitGo, joined me to discuss the current state of the crypto market and the TradFi tokenization race.

Tony Tuths is Principal of KPMG’s Alternative Investment Tax Practice and Leader of the Digital Asset Tax Practice. He joined me to discuss how KPMG is integrating blockchain and helping companies manage their digital asset businesses.

________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

The volatility continues across markets as macro pressures weigh heavily on risk assets.

Today, Bitcoin broke to the downside, appearing to exit the rising channel it had been trading in over the past few weeks.

And frankly… it’s not looking great right now.

📊 Key Level to Watch: $68K

Before jumping to conclusions, we need to focus on one critical factor:

👉 The daily close

If Bitcoin can:

• Reclaim $68K

• And close above it

Then the relief rally structure remains intact.

But if it fails…

⚠️ Breakdown Scenario: $50K–$54K

If this move confirms as a breakdown from the bear flag, the next logical targets are:

• $50K – $54K range

That would align with:

• Bear market continuation

• Completion of a larger corrective structure

As we’ve discussed in prior newsletters, the relief rally had upside potential — but it was never guaranteed.

📉 The Stock Market Will Decide A Lot

We also need to closely watch the S&P 500, which is at a critical juncture.

Current Setup:

• Showing weakness

• Approaching oversold levels on the daily chart

Possible Outcomes:

🟢 Bullish Scenario:

• S&P 500 bounces

• Relief rally across equities

• Crypto follows higher

🔴 Bearish Scenario:

• S&P breaks down

• Broader risk-off sentiment

• Crypto continues lower

Crypto rarely moves in isolation — stocks remain a key signal.

🧠 Patience Is Key

This is not the time to react emotionally.

We’re in a decision zone where the market will soon choose direction.

My view remains:

We are likely closer to the bottom than the top,
with a majority of the downside already behind us.

But confirmation is still needed.

🔥 Major Crypto News

🏛️ Stablecoin Deal Could Unlock CLARITY Act

Two key senators have reportedly reached a tentative agreement on stablecoin yield, potentially removing a major roadblock for the crypto market structure bill (CLARITY Act).

Details are still pending, but momentum is building.

🏠 Crypto-Backed Mortgages Go Mainstream

Coinbase and Better launched a Fannie Mae-backed mortgage product allowing users to:

• Use Bitcoin or USDC as collateral

• Avoid selling their crypto

This is a major step toward real-world crypto utility.

💰 Invesco Enters Tokenized Fund Market

Invesco (with $2.2T AUM) is taking over management of Superstate’s $900M tokenized Treasury fund (USTB).

Tokenization continues to attract major institutional capital.

🏦 NYSE Builds Tokenized Securities Platform

The New York Stock Exchange is working with Securitize to design a tokenized securities platform.

Wall Street is moving onchain — fast.

🌐 Ondo & Franklin Templeton Expand Tokenization

Ondo Finance partnered with Franklin Templeton to offer tokenized versions of stocks and ETFs.

Goal: bridge traditional finance with crypto infrastructure.

📊 Nasdaq Approved for Tokenized Trading

Nasdaq received SEC approval to allow certain securities to trade in tokenized form, with:

• Same tickers

• Same pricing

• Same investor rights

This is a major milestone for blockchain integration.

⚖️ SEC Moves Toward Clear Crypto Definitions

The U.S. Securities and Exchange Commission issued guidance categorizing digital assets and is expected to propose:

• An innovation exemption

• Clearer regulatory frameworks

Chair Paul Atkins emphasized a return to focusing on actual securities markets.

🏦 Moody’s Goes Onchain

Moody’s Corporation launched its Token Integration Engine (TIE) and became the first ratings agency to run a node on the Canton Network.

This enables:

• Onchain credit intelligence

• Native blockchain data distribution

Another TradFi pillar moving into crypto infrastructure.

🧩 Final Thoughts

Bitcoin is at a critical level.

• Hold $68K → relief rally continues

• Lose it → likely move toward $50K–$54K

At the same time:

• Stocks are at a turning point

• Macro uncertainty remains

• Institutions continue building aggressively

This is a decision moment for the market.

Stay patient. Stay disciplined.
Let the market confirm the next move before acting.

___________________________________________

💥Thank You to my show Sponsors

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

Roger Bayston, Head of digital assets at Franklin Templeton, joined me to discuss the firms tokenization strategy and the future of finance.

Meredith Fitzpatrick, Partner and Head of Cryptocurrency at Forensic Risk Alliance, joined me to discuss how the firm helps companies monitor and protect their crypto assets and platforms.

________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

As we’ve been discussing in recent newsletters, a relief rally was overdue given the extreme oversold conditions and record fear sentiment in the crypto market.

Now it’s happening.

Bitcoin has clearly broken out of its accumulation zone, and several key indicators confirm the shift in momentum.

📊 Bitcoin Technicals Turning Bullish

On the daily chart, the setup looks strong:

• RSI shows there’s still room to move higher before becoming overbought

• MACD confirms bulls are now in control

• Price has broken out of the accumulation range

Momentum is finally shifting in favor of buyers.

📈 Strength Also Showing on the Weekly Chart

Zooming out, the weekly timeframe also shows encouraging signs:

• RSI moving away from oversold levels

• MACD indicating bears are losing momentum

This combination often marks the early stages of a counter-trend rally.

💰 Bitcoin Is Back in the “Cheap Zone”

Relative to where we are in the cycle, Bitcoin remains in what many on-chain models call the cheap zone.

Another interesting observation:
Bitcoin has shown increasing correlation with software stocks, and both sectors are now bouncing simultaneously.

This suggests broader risk-on sentiment returning to markets.

🎯 Bitcoin Relief Rally Targets

So how high could this rally go?

My base case remains:

• $80K – $85K as the primary resistance zone

• Possible overshoot into $90K

However, we should keep expectations grounded.

As mentioned in previous newsletters, this is not a move to new all-time highs. It’s a relief rally within a broader bear market structure.

In fact, it’s entirely possible that Bitcoin rallies to the $78K–$85K zone, then rolls over toward the $50K rage to form the true cycle bottom.

🪙 Will Altcoins Rally Too?

This is the big question for many investors.

My view: yes, altcoins should also see a relief rally.

Like Bitcoin, most altcoins have been:

• Extremely oversold

• Trading at deep discounts

• Facing extremely negative sentiment

We’re already seeing signs of strength.

📊 TOTAL3 Chart Signals Altcoin Strength

The TOTAL3 chart (which tracks the market cap of all crypto assets excluding BTC and ETH) shows:

• Bulls gaining control

• Early stages of a rally forming

This suggests broader market participation may be returning.

💧 USDT Dominance Breaking Down

Another bullish sign: USDT dominance is falling.

When stablecoin dominance declines, it usually means liquidity is rotating back into crypto assets.

This is exactly what we want to see during the early phase of a rally.

📈 Ethereum & Solana Showing Similar Patterns

Looking at major altcoins like Ethereum and Solana, the charts are starting to mirror Bitcoin’s structure.

Both are showing:

• Strong bounce setups

• Momentum indicators improving

• Potential for continuation higher if BTC remains strong

If Bitcoin continues toward the $80K–$90K zone, altcoins should follow with their own relief rallies.

🔥 Major Crypto News

🏦 Wells Fargo Signals Stablecoin Push

Wells Fargo filed a trademark for WFUSD, hinting at a potential deposit token or stablecoin.

The filing references:

• Crypto payment processing

• Digital asset trading

• Tokenization software

Another major bank moving deeper into crypto infrastructure.

💳 Mastercard Launches Massive Crypto Partner Program

Mastercard launched a Crypto Partner Program involving more than 85 companies.

Participants include:

• Binance

• Circle

• Ripple

• Gemini

• PayPal

• Paxos

The focus: integrating blockchain into cross-border payments, B2B transactions, and global payouts.

📊 Nasdaq & Kraken Bring Tokenized Stocks

Nasdaq and Kraken are partnering to distribute tokenized versions of public stocks globally.

This marks another step toward merging traditional markets with blockchain infrastructure.

🏢 Aon Tests Stablecoin Insurance Payments

Aon, which advises on $5 trillion in assets, completed a proof-of-concept for insurance premium payments using stablecoins.

The pilot involved:

• Coinbase

• Paxos

• USDC on Ethereum

• PYUSD on Solana

Corporate finance is slowly moving onchain.

🚀 Abra Plans $750M SPAC IPO

Abra plans to go public through a $750M SPAC merger with New Providence Acquisition Corp. III.

The company expects to list on Nasdaq under ticker $ABRX.

Another crypto firm preparing for the public markets.

🧩 Final Thoughts

The relief rally we’ve been anticipating is finally unfolding.

Bitcoin is breaking out.
Altcoins are stabilizing.
Liquidity is rotating back into the market.

But remember — this is still likely a counter-trend rally, not the start of a new bull market.

Stay disciplined.
Stay patient.
And let the data guide your decisions.

___________________________________________

💥Thank You to my show Sponsors

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

Nass Eddequiouaq, Cofounder and CEO of Bastion, joined me to discuss Bastion's regulated stablecoin infrastructure solutions.

Malcolm Clarke, VP of Digital Assets at Western Union, joined me to discuss why Western Union is building its own stablecoin, USDPT, on the Solana blockchain.

________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

The crypto market just sent a strong signal.

Despite the start of a war with Iran — an event that would normally spark panic — Bitcoin and altcoins held steady. That kind of resilience matters.

Let’s break down what’s happening.

📊 Bitcoin Technicals: Relief Rally Underway

On the daily chart, Bitcoin is breaking out of its consolidation range.

Here’s what we’re seeing:

• RSI moving away from the oversold zone, with room to run before overbought

• MACD showing bulls in control

• Clear breakout from the recent chop

This confirms what we’ve been discussing — a relief rally is underway.

But let’s be clear:

This is not a new bull market yet.
This is a relief rally inside a broader bear market.

Bitcoin and altcoins have been extremely oversold, and sentiment has been in extreme fear. This bounce is technically justified.

🎯 Relief Rally Targets

The primary target zone:

• $80K – $85K

• Possible overshoot into $90K

Altcoins should follow Bitcoin’s move if this rally continues.

However…

⚠️ The Risk: USDT Dominance Spike

We need to stay cautious.

One major risk is a spike in USDT dominance, which historically signals:

• Capital rotating into stablecoins

• A major Bitcoin dump

If that plays out, Bitcoin could visit the $52K – $54K zone.

Let’s hope that scenario stays invalidated.

📉 Don’t Ignore the Stock Market

The S&P 500 is also at a crossroads, consolidating just like Bitcoin.

Key levels:

• Break above 6,955 – 7,002 → More upside

• Break below 6,721 → Broad market downside

Crypto rarely moves independently for long. The stock market will heavily influence the next leg.

🔮 Long-Term Bitcoin Outlook (Elliott Wave)

Let’s zoom out and look at the longterm views for Bitcoin using Elliot wave analysis.

🐂 Bullish Scenario

One key observation:

Bitcoin has not yet reached the 1.618 Fibonacci golden ratio extension this cycle.

That leaves open the possibility of:

• A continuation move into 2027

• Price target above $150,000

For this to gain credibility, Bitcoin must:

• Break $97,000

• Show strong impulsive price action

Until then, it’s just a potential.

🐻 Bearish Scenario

This view shows:

• Relief rally to ~$90K

• Followed by rollover to lower prices

The good news?

Both bullish and bearish scenarios suggest near-term upside — which is better than the persistent grind lower we’ve endured since Q4 2025.

🧠 Stay Rational

Markets are emotional. We don’t need to be.

We prepare for multiple outcomes and adjust as confirmation comes in.

Right now, the higher probability scenario favors a meaningful relief rally in the coming months.

🔥 Major Crypto News

🏦 Morgan Stanley Eyes Digital Asset Custody

Morgan Stanley filed for a de novo national trust bank charter, which would allow it to custody digital assets directly.

Wall Street positioning continues.

🇬🇧 Barclays Exploring Blockchain Platform

Barclays is consulting technology providers to build a blockchain platform for payments and financial processes.

Another global bank entering the space.

🌐 Meta Planning Stablecoin Comeback

Meta is preparing a stablecoin relaunch in the second half of the year.

Meta issued an RFP for stablecoin-based payment infrastructure.
Stripe (which acquired Bridge) is reportedly a likely pilot partner.

💵 MoonPay, M0 & PayPal Launch PYUSDx

MoonPay, PayPal, and M0 announced PYUSDx — infrastructure enabling developers to launch app-specific stablecoins backed by PayPal USD.

Stablecoin infrastructure continues expanding rapidly.

💳 MetaMask & Mastercard Launch Self-Custodial Card

MetaMask and Mastercard launched a U.S. payment card with onchain rewards.

Unlike most crypto cards:

• It is fully self-custodial

• Users control assets until the moment of payment

Major step for user sovereignty.

📊 Bloomberg Expands into Tokenized Markets

Bloomberg is collaborating with Kaiko to bring licensed financial data directly onchain — targeting the $25B tokenized asset market.

Institutional rails are being rebuilt — on blockchain.

🧩 Final Thoughts

Despite geopolitical tension, crypto is holding strong.

Technicals favor a relief rally.
Macro remains uncertain.
Institutional adoption continues accelerating.

Stay patient. Stay prepared.
The next few months will define whether this is simply a bounce — or the beginning of something much bigger.

___________________________________________

💥Thank You to my show Sponsors

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

William Quigley, Co-Founder of Tether and WAX, joined me to discuss the disappointing crypto bull market and when we may see a recovery.

Amanda Tuminelli, Executive Director at the DeFi Education Fund, joined me to discuss the need for balanced regulation in DeFi and broader crypto legislation.

________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

It goes without saying at this point:

We are in a bear market.🐻

We’ve lost bullish structure. Higher lows are gone. Momentum has shifted. The market has spoken.

So what should we expect next?

In my view, a relief rally is likely — and here’s why.

📉 Bitcoin Is Extremely Oversold

The data is screaming exhaustion.

• Daily RSI → deep in oversold territory

• Weekly RSI → also in the oversold zone

Historically, when both timeframes align like this, we see at least a tradable bounce.

😨 Sentiment at Record Fear

Crypto sentiment recently hit a score of 5 — the lowest ever recorded.

Let that sink in.

When everyone gives up on crypto…
When timelines are full of doom…
When retail throws in the towel…

That’s often when markets prepare to bounce.

Markets are cyclical. Extremes don’t last forever.

📊 Bull Flag Forming — $80K–$85K Target

Technically, Bitcoin is forming what looks like a bull flag structure on the chart.

Potential relief rally targets:

• $80K–$85K zone

• Possibly into the low $90Ks if momentum builds

However, there is heavy resistance between $80K and $85K. Expect a battle there.

Even in bear markets, sharp counter-trend rallies happen.

💰 Bitcoin Back in the “Cheap Zone”

Bitcoin has re-entered what many on-chain metrics classify as a value or discount zone.

That creates two strategic opportunities:

1️⃣ Swing trade the relief rally
2️⃣ Accumulate for the long term

Bear markets are painful — but they also create opportunity.

⚠️ Important: Relief Rally ≠ Bull Market

Let’s be very clear.

Even if we rally to $85K or $90K…

That does not mean the bear market is over.

In fact, after a relief rally, it’s entirely possible Bitcoin:

• Breaks down toward $50K

• Or even into the $40K zone

A large head-and-shoulders pattern is developing on the charts — and that structure implies potential for significantly lower prices if it plays out fully.

This is why discipline matters.

🏛️ Potential Catalysts for the Relief Rally

Some narratives that could align with a bounce:

• Progress on the crypto market structure bill with compromise between banks and crypto firms on stablecoin yield

• Trump’s tariffs potentially being ruled unconstitutional by the Supreme Court

Nothing is guaranteed — but catalysts often align with technical setups.

Right now, technicals favor a bounce.

🔥 Major Crypto News

📲 X to Integrate Stock & Crypto Trading

X, formerly Twitter, plans to integrate stock and crypto trading directly into user feeds.

This is another step in Elon Musk’s push to turn X into a financial super app.

🏦 BlackRock Brings BUIDL to DeFi

BlackRock will make shares of its $2.2B tokenized U.S. Treasury fund BUIDL tradable on Uniswap.

BlackRock also:

• Made a strategic investment in Uniswap

• Purchased an undisclosed amount of UNI

This is TradFi stepping directly into DeFi.

🏛️ Citadel Invests in LayerZero

Citadel Securities invested in LayerZero Labs and its ZRO token.

LayerZero also unveiled Zero, a high-performance blockchain aimed at institutional markets.

Institutional rails are expanding — even in a bear market.

💼 Apollo Backs Onchain Lending via Morpho

Apollo Global Management struck a cooperation agreement with Morpho.

Apollo can acquire up to 90 million MORPHO tokens over 48 months — signaling growing confidence in onchain credit markets.

🏗️ Robinhood Launches Layer-2 Testnet

Robinhood launched a public testnet for Robinhood Chain, an Ethereum Layer-2 built using Arbitrum technology.

Goal:
Bring tokenized real-world and digital assets onchain.

🏦 Bank of England Selects Chainlink

The Bank of England selected Chainlink to test atomic settlement of tokenized assets through its Synchronisation Lab.

This supports synchronized settlement between:

• Central bank money

• Onchain securities

Another major validation of blockchain infrastructure.

🧩 Final Thoughts

Yes, we are in a bear market.

Yes, structure is broken.

But extreme oversold conditions + record fear + bullish short-term technicals = high probability of a relief rally.

The key is separating:

• Short-term trading opportunities
  from

• Long-term market direction

Stay patient. Stay disciplined.
Bear markets test conviction — and create opportunity.

___________________________________________

💥Thank You to my show Sponsors

Propy (PRO) is a blockchain-based real estate marketplace and decentralized title registry that leverages smart contracts to facilitate property transactions globally. It simplifies and automates real estate transactions, making them faster, more secure, and more transparent.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

VeChain is a leading enterprise-grade L1 public blockchain, spearheading a digital revolution from a sustainable, highly scalable smart contract platform.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

Rob Morgan, Head of Stablecoin and Banking Strategy at Payoneer, joined me to discuss how Payoneer plans to integrate stablecoins into its payments infrastructure.

________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

The volatility continues.

Over the past week, Bitcoin plunged below $80,000 and briefly touched $75,000, putting the market squarely into make-or-break territory.

From here, the paths are very different:

• 📉 Bear case: BTC continues dropping toward $60,000, confirming a full bear market

• 📈 Bull case: BTC stabilizes, rallies toward $100K, or even pushes to new all-time highs

Interestingly, Bitcoin has been closely following a Wyckoff Accumulation model, and according to that structure, a “spring” phase may be approaching — often the final shakeout before a strong move higher.

📊 Technical & On-Chain Data: Extreme Conditions

Several key indicators are flashing historically extreme signals:

🔻 RSI at Rare Oversold Levels

• Daily RSI is deep in the extreme oversold zone

  

• Weekly RSI is near levels last seen during:

  • December 2018 bottom

  • November 2022 bear-market low

  • The Covid crash

  

📉 MVRV Z-Score at Record Lows

• The 2-Year Rolling MVRV Z-Score is the lowest it has ever been

  

• Bitcoin sentiment is in extreme fear

  

These conditions historically appear near major bottoms, not tops.

⚖️ Bull vs Bear: What Happens Next?

The bear argument is simple:
If key support breaks, Bitcoin could repeat a 2022-style cascade lower.

The bull argument hinges on structure holding:

• Wyckoff accumulation remains intact

• Oversold momentum begins to reverse

• Whales continue accumulating while retail capitulates

If those conditions persist, the odds favor a strong upside move.

🥇 Liquidity Rotation: Metals → Crypto?

Another important factor: gold and silver may have put in a local or blow-off top.

• Both assets saw sharp pullbacks after making new highs

• Historically, liquidity often rotates between asset classes

  

• Bitcoin priced in gold is sitting at major support, hinting at a potential reversal

There’s no guarantee — but history is on crypto’s side if rotation plays out again.

🐋 Whales Accumulating, Retail Capitulating

Data from Glassnode and Santiment shows:

• Whale accumulation continues

• Retail investors are capitulating

This pattern has preceded many major rallies, as whales absorb supply before pushing price higher.

Smart money tends to move after retail gives up — not before.

🧠 The Bigger Picture

This is a moment of real uncertainty for crypto:

• 4-year cycle timing questions

• Binance FUD

• Liquidity disruptions from government shutdowns

• Geopolitical tensions

But remember:

Markets are cyclical.
They don’t stay bearish or bullish forever.

Maintaining a macro perspective is critical when emotions are running hot.

🔥 Major Crypto News

🏛️ SEC & CFTC Move Toward Unified Crypto Rulebook

The U.S. Securities and Exchange Commission and Commodity Futures Trading Commission are consolidating Project Crypto into a joint framework for regulating digital-asset markets.

SEC Chair Paul Atkins also said now is the right time to open the $12.5 trillion 401(k) market to crypto — a massive potential unlock.

🏛️ Senate Advances Crypto Market Structure Bill

The Senate Agriculture Committee voted to advance its version of a crypto market structure bill — the first time such legislation has cleared a Senate committee.

Next steps:

• Senate Banking Committee hearing

• White House meeting today with crypto firms and banks to discuss market structure

Momentum is building, even amid political friction.

💵 Fidelity Launches Stablecoin on Ethereum

Fidelity Investments is launching its first stablecoin, Fidelity Digital Dollar (FIDD), on Ethereum.

FIDD will be backed by:

• Cash

• Cash equivalents

• Short-term U.S. Treasuries

All compliant with the GENIUS Act.

🛡️ Binance Converts SAFU Fund Into Bitcoin

Binance announced it will convert its ~$1B SAFU insurance fund into Bitcoin.

Key pledge:

• If SAFU drops below $800M, Binance will replenish it to $1B

This move adds transparency and strengthens confidence in exchange reserves.

🇺🇸 Tether Launches Regulated U.S. Stablecoin

Tether officially launched USA₮, a federally regulated dollar-backed stablecoin.

Details:

• Issued by Anchorage Digital Bank

• Designed specifically for U.S. use

• Fully compliant with the GENIUS Act

🧩 Final Thoughts

We are at a critical inflection point.

• Technicals are stretched

• Sentiment is washed out

• Whales are accumulating

• Macro uncertainty is high

Whether this becomes a historic bottom or a deeper bear-market leg will be decided soon.

Stay patient. Stay data-driven.
This is where long-term opportunities are often born.

___________________________________________

💥Thank You to my show Sponsors

Propy (PRO) is a blockchain-based real estate marketplace and decentralized title registry that leverages smart contracts to facilitate property transactions globally. It simplifies and automates real estate transactions, making them faster, more secure, and more transparent.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

VeChain is a leading enterprise-grade L1 public blockchain, spearheading a digital revolution from a sustainable, highly scalable smart contract platform.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

Vinny Lingham is a serial entrepreneur, investor, and Crypto OG. He is the Chairman & Co-founder of Praxos Capital Management.

Ezra Solomon, Strategy Lead for Blockchain and DeFi at Fireblocks, sat down with me at the Stablecoin Summit NYC to discuss the infrastructure Fireblocks is building to help institutions adopt crypto and stablecoins.

________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

This was a great week for Bitcoin.

We finally saw real strength as BTC broke out from $90K to over $97K. As expected, price has pulled back slightly for a healthy retest of support — but make no mistake, this move is different. It’s clear we are in the midst of the next rally, and frankly… it’s about damn time.

Bitcoin has been lagging:

• The stock market

• Gold and silver

• Global liquidity

For a while, it even felt like BTC had completely decoupled. That gap is now starting to close.

📊 Is This Rally Legit?

In short: yes, the data supports it.

🐋 Whales Are Accumulating

On-chain data from Santiment shows Bitcoin whales have increased accumulation, a pattern that has preceded every major rally in this cycle.

📈 Technicals Confirm Strength

• Daily RSI → plenty of room to run before being overbought

• Daily MACD → bulls firmly in control

• Weekly MACD → bearish momentum is fading

• USDT dominance → breaking down, mirroring previous bull-market rallies

These signals don’t guarantee anything — but they significantly raise probabilities.

❓ Relief Rally or New All-Time Highs?

This is the debate raging between bulls and bears right now.

🐂 Bull Case

Some bulls believe this is the start of a move to new all-time highs, with targets as high as $144,000. Structurally, that’s possible — higher lows remain intact after the Q4 2025 correction.

🌍 Macro Tailwinds

The macro backdrop supports higher prices:

• Central banks (including the Fed) are back to Quantitative Easing

• Global liquidity is rising again

• Crypto legislation milestones are approaching

• Trump wants markets strong heading into midterm elections

There are no guarantees — only probabilities. The market will ultimately decide which scenario plays out.

🧠 What About Altcoins?

If Bitcoin continues higher, altcoins will follow.
The key question is whether they can make new all-time highs, which depends on BTC’s trajectory.

🔍 A Very Bullish Signal

The Russell 2000 has started making new highs.

Think of the Russell as the altcoin sector of equities.

For altcoins, Ethereum serves as the benchmark:

• We need to see ETH make new highs

• That would be a major confirmation for a true altcoin rally

  

So far, the setup is constructive — but confirmation is still needed.

🏛️ Crypto Market Structure Bill Drama (CLARITY Act)

This week brought fresh uncertainty in Washington.

The Senate Banking Committee postponed a key vote on the CLARITY Act, following intense lobbying — particularly around stablecoin interest payments.

Key Developments:

• Vote delayed by Chair Tim Scott to allow more negotiation

• Coinbase CEO Brian Armstrong announced opposition, warning amendments could “kill rewards on stablecoins” and favor banks

• Banking vs. crypto clash over whether stablecoin issuers can pay interest

• Future uncertain, but lawmakers on both sides say they are committed to finding a path forward — likely pushing talks into February

This is a temporary setback, not the end of the bill — but it does inject short-term uncertainty.

🔥 Major Crypto News

🏦 State Street Launches Digital Asset Platform

State Street launched a new digital asset platform bridging TradFi and digital finance, offering:

• Wallet management

• Custody

• Cash capabilities

• Support for tokenized products across public and permissioned blockchains

🏛️ Standard Chartered Plans Crypto Prime Brokerage

Standard Chartered is preparing to launch a crypto prime brokerage housed within SC Ventures, expanding institutional access to digital assets.

📊 Nasdaq & CME Unify Crypto Indexes

Nasdaq and CME Group merged their crypto benchmarks, rebranding the Nasdaq Crypto Index as the Nasdaq-CME Crypto Index — a major step toward standardized institutional crypto benchmarks.

💳 BNY Introduces Tokenized Deposits

BNY launched tokenized deposit capabilities for institutional clients, mirroring deposits as on-chain digital entries while maintaining full regulatory compliance on a permissioned blockchain.

🏠 Crypto Recognized for Mortgage Qualification

Major U.S. lender Newrez will now recognize crypto assets for mortgage qualification — becoming the first top-25 mortgage lender to do so without requiring liquidation of digital assets.

This is a huge milestone for real-world crypto utility.

🧩 Final Thoughts

Bitcoin is finally catching up — technically, on-chain, and macro-wise.

• Whales are accumulating

• Liquidity is rising

• Technicals are constructive

• Institutions keep building

Whether this rally becomes simply a relief rally or a measured climb to new highs, one thing is clear:

👉 A strong rally is starting.

Stay patient. Stay data-driven.
The next phase is unfolding.

___________________________________________

💥Thank You to my show Sponsors

Propy (PRO) is a blockchain-based real estate marketplace and decentralized title registry that leverages smart contracts to facilitate property transactions globally. It simplifies and automates real estate transactions, making them faster, more secure, and more transparent.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

VeChain is a leading enterprise-grade L1 public blockchain, spearheading a digital revolution from a sustainable, highly scalable smart contract platform.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

Bill Barhydt, Founder and CEO of Abra, joined me to discuss whether crypto market cycles have changed and what could come next for Bitcoin and altcoins.

Cody Carbone, CEO of The Digital Chamber, joined me to discuss the latest developments on the crypto market structure bill in the Senate—and more.

________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

I think it goes without saying that 2025 was disappointing for crypto, especially while other assets like gold and silver pushed to new all-time highs. That frustration is real.

But markets don’t reward emotion — they reward data, patience, and positioning.

So instead of looking backward, let’s focus on what actually matters.

🔮 Will Crypto Rally in 2026?

Today, Bitcoin touched $90,000, and while it looks like a breakout, we still need confirmation on the daily close. As always, markets can fake us out, so patience is key.

That said, when we zoom out and look at the data, conditions are lining up for a potential reversal.

📊 Data Signals a Bottoming Process

Several metrics suggest Bitcoin may be nearing a turning point:

• Bitcoin RSI showing oversold conditions

• Q4 2025 tax-loss harvesting selling is complete

• Market sentiment is in extreme fear

• 2-Year Rolling MVRV Z-Score is at the lowest level ever recorded

Historically, this combination has preceded major reversals.

⏳ Still Not a Straight Line Up

Even if a reversal is underway, we need to stay realistic.

Possible scenarios include:

• Continued sideways chop

• A final retest of lows around $79K–$80K

• A delayed breakout before momentum truly accelerates

The data suggests a reversal is near — but timing it perfectly is impossible.

Patience remains the edge.

🐋 Whales Are Quietly Accumulating Again

One of the most important signals right now:

Santiment data shows Bitcoin whales are starting to accumulate again, just as they did after previous major corrections over the past two years.

This behavior has historically preceded strong upside moves.

Smart money acts early — and quietly.

🌍 Macro Tailwinds Still in Place

The macro factors we’ve discussed in recent newsletters remain firmly on the table:

💧 Global Liquidity Is Rising

• The Fed began QE-lite on December 12

• Other central banks around the world are easing as well

• Global liquidity is now at new all-time highs

Bitcoin and crypto have not yet caught up — but historically, price follows liquidity with a lag.

🥇 Gold & Silver Cooling After New Highs

Gold and silver have been ripping — but momentum is slowing.

Throughout this cycle, we’ve seen liquidity rotate between asset classes.
There’s a strong case that capital rotates back into risk assets like crypto next.

🏛️ Major Structural Catalysts for 2026

✅ U.S. Crypto Market Structure Bill (CLARITY Act)

Expected to pass in early 2026, this is a landmark event that could unlock massive institutional capital into the crypto market.

📈 Crypto & Tech IPO Boom

Many crypto and mainstream tech companies are preparing to go public in 2026.

Companies don’t IPO in bear markets — this is a classic bull-market signal.

🏦 Trump Will Appoint a New Fed Chair

Powell’s tenure ends May 2026, and Trump will appoint someone aligned with his economic agenda:

• Lower rates

• Market-friendly policy

• Possibly full-scale QE

All of this supports risk assets.

🎯 Relief Rally or New All-Time Highs?

The biggest open question remains:

Do we get a bullish relief rally… or a move to new all-time highs?

My view:
👉 The higher-probability outcome is still new highs and a blow-off top for both stocks and crypto — but confirmation will come from price, not opinions.

🔥 Major Crypto News

🇷🇺 Russia’s First Bitcoin-Backed Loan

Sberbank issued Russia’s first bitcoin-backed loan to a major mining company, using its crypto custody product Rutoken to secure the BTC collateral.

This marks a pilot transaction with potential expansion ahead.

🇹🇲 Crypto Legalized in Turkmenistan

Crypto mining and trading are now fully legal in Turkmenistan following new legislation signed by President Serdar Berdimuhamedow.

Another jurisdiction embraces digital assets.

🇨🇳 China Expands Digital Yuan Incentives

The People’s Bank of China will roll out a new digital yuan framework on January 1, allowing commercial banks to pay interest on digital yuan holdings — a major incentive for CBDC adoption.

🇺🇸 Trump Media Token Launch

Trump Media announced that shareholders will receive one digital token per DJT share once the program launches.

Details:

• Issued on Crypto.com’s Cronos blockchain

• Potential rewards tied to Truth Social, Truth+, and Truth Predict

• More information coming in the new year

This blends tokenization, media, and shareholder engagement.

🧠 Final Thoughts

Yes — 2025 was frustrating.

But frustration, extreme fear, and disappointment are not signs of market tops — they’re signs of opportunity forming.

Liquidity is rising.
Whales are accumulating.
Regulation is clarifying.
And 2026 is shaping up to be a pivotal year.

Stay patient. Stay disciplined.
The next phase of this cycle may reward those who held conviction when it wasn’t easy.

___________________________________________

💥Thank You to my show Sponsors

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

Propy (PRO) is a blockchain-based real estate marketplace and decentralized title registry that leverages smart contracts to facilitate property transactions globally. It simplifies and automates real estate transactions, making them faster, more secure, and more transparent.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

VeChain is a leading enterprise-grade L1 public blockchain, spearheading a digital revolution from a sustainable, highly scalable smart contract platform.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

Danny McCabe, Co-founder and CEO of Flexa, joined me to discuss how the firm is helping crypto become accepted as a form of payment at every point of sale.

Alex Cutler, Founder and CEO of Dromos Labs, joined me to discuss the growth of the DEXs Aerodrome on Base and Velodrome on Optimism.

Jonathan Levin, Co-founder and CEO of Chainalysis, joined me to discuss the firm’s blockchain data platform, which is used by governments, exchanges, financial institutions, and more around the world.

________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

Despite the crypto market being stuck in a boring — and at times painful — consolidation, something much bigger is happening under the surface.

While prices chop, institutional adoption is accelerating and regulatory clarity is finally arriving. This is exactly what late-cycle and pre-expansion phases often look like: quiet markets, loud fundamentals.

Let’s break it down.

🏦 U.S. Regulators Open the Banking Door to Crypto

In a major step toward integrating digital assets into the traditional financial system, the Office of the Comptroller of the Currency (OCC) has issued conditional approvals that fundamentally change the landscape.

New National Trust Bank Approvals

• Ripple and Circle received conditional approval to establish national trust banks

• BitGo, Paxos, and Fidelity Digital Assets were approved to convert state trust charters into national charters, allowing nationwide operations

This is not symbolic — it places crypto-native firms directly inside the U.S. banking framework.

Riskless Principal Trading Clarified

The OCC also clarified in Interpretive Letter 1188 that national banks may engage in “riskless principal” crypto transactions.

In simple terms:

• Banks can intermediate crypto trades

• Buy from one client and sell to another simultaneously

• Hold no crypto inventory

• Function like regulated brokers

This removes one of the last major barriers for banks offering crypto trading.

🏛️ JPMorgan Goes Onchain — Big Time

JPMorgan continues to push real-world finance onto public blockchains.

Commercial Paper on Solana

JPMorgan arranged a commercial paper issuance on Solana, settled using USDC.
This marks one of the most significant real-world financial instruments ever deployed on a public blockchain.

Tokenized Money Market Fund on Ethereum

JPMorgan is also launching its first tokenized money-market fund on Ethereum:

• My OnChain Net Yield Fund (MONY)

• $100 million initial investment

• First GSIB (Global Systemically Important Bank) to launch a tokenized fund on a public chain

This isn’t experimentation anymore — it’s production.

🧾 DTCC Gets Green Light for Tokenization

The DTCC’s depository subsidiary received an SEC No-Action Letter allowing it to tokenize certain DTC-custodied assets on approved blockchains.

What’s Coming (H2 2026):

• Russell 1000 equities

• Major index ETFs

• U.S. Treasuries

These tokenized assets will carry:

• Full ownership rights

• Investor protections

• Identical entitlements to traditional securities

This is a massive unlock for capital markets.

🚀 Figure Plans IPO Shares Issued on Solana

In a move that could redefine public markets, Figure Technologies is preparing to file a second IPO application — with a twist:

Shares issued natively on Solana

If approved, this could:

• Reduce settlement times

• Increase transparency

• Lower issuance costs

And most importantly…
👉 Open the door for other companies to follow.

🎥 YouTube & PayPal Bring Stablecoins to Creators

YouTube has enabled U.S. creators to receive payouts in PayPal’s PYUSD stablecoin.

According to PayPal’s head of crypto, May Zabaneh:

“The beauty of what we’ve built is that YouTube doesn’t have to touch crypto.”

Key details:

• PYUSD payouts launched in Q3 2025

• Currently available only to U.S. creators

• Simplifies stablecoin adoption without friction

This is how crypto scales — invisibly.

💼 Interactive Brokers Embraces Stablecoins

Interactive Brokers will now allow retail investors to fund brokerage accounts using stablecoins, according to Bloomberg.

This move keeps them competitive and signals that stablecoins are becoming a standard financial rail.

🔮 Looking Ahead to 2026

As we head into 2026:

• Institutions are building

• Regulators are clarifying

• Tokenization is accelerating

And the crypto market structure bill is expected to pass in Q1–Q2 2026, unlocking the next phase of adoption.

⏳ When Will Bitcoin and Altcoins Rally?

Patience remains the key.

As we’ve discussed in recent newsletters, a rally is coming — but the question remains:

Relief rally… or bull market continuation?

We’ll have to let price action decide.

Here’s what I’m watching closely:

• QE “Lite” began on December 12th

• Liquidity should start hitting markets in January and February

• Bitcoin whales have slowly resumed accumulation — a constructive signal

Price will follow liquidity. It always does.

🧩 Final Thoughts

The market may feel dull right now, but the foundations of the next major move are being laid in plain sight.

Crypto is no longer knocking on the door of traditional finance — it’s being invited inside.

Stay patient. Stay informed.
The quiet periods are where the biggest opportunities are born.

___________________________________________

💥Thank You to my show Sponsors

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

Propy (PRO) is a blockchain-based real estate marketplace and decentralized title registry that leverages smart contracts to facilitate property transactions globally. It simplifies and automates real estate transactions, making them faster, more secure, and more transparent.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

VeChain is a leading enterprise-grade L1 public blockchain, spearheading a digital revolution from a sustainable, highly scalable smart contract platform.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

Matej Zak, CEO of Trezor, and I sat down at their Prague office to discuss the new Trezor Safe 7 hardware wallet and much more.

Keith Grossman, President at MoonPay, joined me to discuss how the firm is unlocking crypto access for both retail and institutional users.

Dan Silverman, Co-CEO and Co-Founder of Balcony, joined me to discuss how the firm is tokenizing billions in real estate on the Avalanche blockchain.

___________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

Momentum is building — fast.
Today we heard from Fed Chair Jerome Powell, and as expected, the Fed cut interest rates by 25 bps, making capital cheaper and more accessible.

But the big news isn’t the rate cut…

The real story: The Fed begins buying U.S. Treasury Bills on December 12th — $40 BILLION worth in 30 days.

This marks the official start of QE Lite, the early phase of the money-printing cycle.

As we’ve been discussing for a while, once QT ended on December 1st, the Fed would tee up Quantitative Easing.
This isn’t full-on QE yet, but it’s the beginning of the turn.

As James Lavish put it:

“Here we go again. The Fed just announced that it will buy $40B of Treasury Bills in the next 30 days.
If you’re wondering where this puts us in the ‘printing cycle,’ it is right here.”

Liquidity is the lifeblood of markets — and it’s finally coming back. The U.S. isn’t alone. Other central banks are stimulating their economies as well. Most recently, Japan announced a large stimulus package, adding even more fuel to global liquidity.

This environment bodes extremely well for risk assets!

📈 Bitcoin Charts & On-Chain Data Turning Bullish

BTC Price Action

Bitcoin moved over $94,000 yesterday — a strong sign of momentum shifting.

We’re now seeing:

• Higher highs and higher lows forming

• The daily MACD flipping bullish

• The RSI showing plenty of room before overbought

  

This is exactly the type of structural recovery we want to see.

Stock Market Confirmation Needed

The S&P 500 and Russell 2000 are showing early strength, but not enough to confirm the next major leg up just yet.

Crypto rarely decouples for long — stocks will matter here.

Whales Are Back

After nearly 2 months of distribution, on-chain data from Santiment shows:

Bitcoin whales holding 10+ BTC are accumulating again.

This is one of the strongest bullish signals we can get.

Corporate Bitcoin Holdings Are Surging

Digital asset treasury companies continue buying BTC and ETH despite the downturn.

Corporate Bitcoin holdings:

• 197K BTC → 1.08M BTC since Jan 2023

• +448% increase
  (Glassnode)

Institutions are not selling. They’re preparing for what’s coming.

🔮 Catalysts Setting Up a Major 2026 Rally

Here are the macro forces that could ignite a powerful bull cycle into 2026:

🟢 1. QE from the Fed & Global Central Banks

Liquidity rising globally = risk assets rise globally.

🟢 2. Lower Rates = Cheap Capital

Lower rates push investors out of money market funds and into higher-return assets like crypto.

🟢 3. U.S. Crypto Market Structure Bill (CLARITY ACT)

Expected to be passed Q1–Q2 2026.
The biggest regulatory unlock since the ETF approvals.

🟢 4. Crypto & Tech IPO Boom

A wave of IPOs are coming:

• Crypto companies

• Blockchain infrastructure providers

• AI giants

Companies don’t go public in bear markets.
This is a bull signal.

🟢 5. Trump Will Appoint a New Fed Chair

Powell’s tenure ends May 2026.

Trump will appoint someone aligned with his economic goals — meaning:

• Lower rates

• Market-friendly policy

• Possibly full-scale QE

All of this supports risk assets.

⚠️ But We Must Prepare for Multiple Scenarios

Analyst CryptoCurrently produced a great chart outlining the possible Bitcoin paths from here.

Even with the bullish macro backdrop, it’s possible that:

• The current move is just a relief rally

• BTC fails to make new highs

• Altcoins outperform but without a euphoric blowoff top

I’m not saying this will happen — but we must acknowledge the possibility.

Markets don’t owe us certainty.

🔥 Major Crypto News

1️⃣ OCC Opens the Door for Banks to Offer Crypto Brokerage

The U.S. Office of the Comptroller of the Currency (OCC) announced that national banks can intermediate crypto trades as riskless principals — without holding the assets on their balance sheets.

This mirrors traditional brokerage activity and brings banks one step closer to offering fully regulated crypto trading services.

Massive development.

2️⃣ PNC Private Bank Enables Bitcoin Trading

PNC clients can now:

• Buy

• Sell

• Hold

Bitcoin directly within their existing accounts via Coinbase’s Crypto-as-a-Service platform.

This is the first major U.S. bank to roll out such an offering.

3️⃣ CFTC Allows BTC, ETH & USDC as Collateral

The CFTC has launched a pilot program enabling:

• BTC

• ETH

• USDC

to be used as collateral in U.S. derivatives markets.

This comes with strict oversight and updated tokenized asset guidance following the GENIUS Act.

Institutional rails continue to expand.

4️⃣ French Banking Giant BPCE Opens Crypto Trading to Millions

BPCE — through Banque Populaire and Caisse d’Épargne — will offer crypto trading to 2 million users, expanding to 12 million by 2026.

Assets supported:

• BTC

• ETH

• SOL

• USDC

Fees:

• €2.99 per month

• 1.5% transaction fee

Another European giant entering the arena.

🧩 Final Thoughts

Momentum is clearly shifting.

• Rate cuts ✔️

• QE Lite starting ✔️

• Global liquidity rising ✔️

• Bitcoin momentum returning ✔️

• Whales accumulating ✔️

• Institutions buying ✔️

The next few months will determine whether this is:

• The beginning of a new all-time-high run, or

• A relief rally before deeper consolidation

Stay focused. Stay disciplined.
Massive opportunities lie ahead — but so does volatility.

___________________________________________

💥Thank You to my show Sponsors

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

Propy (PRO) is a blockchain-based real estate marketplace and decentralized title registry that leverages smart contracts to facilitate property transactions globally. It simplifies and automates real estate transactions, making them faster, more secure, and more transparent.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

VeChain is a leading enterprise-grade L1 public blockchain, spearheading a digital revolution from a sustainable, highly scalable smart contract platform.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

Keith Grossman, President at MoonPay, joined me to discuss how the firm is unlocking crypto access for both retail and institutional users.

Dan Silverman, Co-CEO and Co-Founder of Balcony, joined me to discuss how the firm is tokenizing billions in real estate on the Avalanche blockchain.

Matt Hougan, CIO at Bitwise Asset Management, joined me to discuss the launch of their XRP, Solana, and Dogecoin Spot ETFs.

___________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

It’s over!
The Federal Reserve has officially ended Quantitative Tightening (QT) — and the liquidity engines are already turning back on.

In fact, the Fed has quietly begun stealth QE, injecting $13.5 BILLION into the U.S. banking system through overnight repos.
👉 This is the 2nd largest liquidity injection since Covid, and it surpasses even the peak of the Dot-Com bubble.

We are watching monetary history unfold in real time.

🏦 Rate Cuts Coming Next?

Markets are now pricing in a 25 bps rate cut at the December 10th FOMC meeting.
Cheaper capital = more fuel for risk assets.

On top of that…

🇺🇸 Trump will soon announce the next Fed Chair.

Powell’s term ends in May 2026, and whoever steps in next will almost certainly:

• Cut rates aggressively

• Possibly initiate full-scale QE

• Work to pump markets ahead of the 2026 midterms

Translation:
The liquidity era is returning — one way or another.

But here’s the big question…

❓ Will Liquidity Save Stocks and Crypto?

Despite the macro tailwinds, the charts still show several bearish signals.
Percentage-wise, this correction is normal. But structurally we’re at a crossroads.

We are now seeing a bounce in both Bitcoin and the stock market — and it feels like a battle between:

🟦 MACRO BULL SIGNALS

vs.

🔻 CHART BEAR SIGNALS

Two scenarios are now most likely:

Scenario 1: Relief Rally → Bear Market

A bounce that fails to break resistance, rolls over, and confirms a macro top.

Scenario 2: Next Leg Up → New All-Time Highs

A breakout that kicks off the final euphoric run of the cycle.

A key indicator:

Bitcoin’s daily death cross has historically aligned with local bottoms, not tops.

That’s worth paying attention to.

💥 Short Squeeze Setup: $10.2B in Shorts on the Line

If Bitcoin taps $96.9K, about $10.2 BILLION in short leverage would be liquidated.

That could trigger:

• A violent short squeeze

• BTC reclaiming $100,000+

• Altcoins waking back up

• A wave of forced buying

In the short term, both scenarios lead to higher prices.

The real question is what happens after the squeeze.

🏛️ Macro Tailwind: SEC Signaling a Bull Market

This morning, SEC Chair Paul Atkins spoke at the NYSE announcing:

🔹 IPO-boosting policies are coming in early 2025

Reminder:
No one goes public in a bear market.

And many crypto + AI companies are lining up:

• Securitize

• Kraken

• OpenAI

• Blockchain infrastructure firms

Atkins also said:

🌐 An “innovation exemption” for crypto companies is coming in January.

Pair this with the crypto market structure bill, expected to pass the Senate in early 2026…

You have the ingredients for a “buy the rumor, sell the news” mega-event.

🐋 Whale Red Flag: Distribution Continues

One area of legitimate concern:

Onchain data from Santiment shows whales (10+ BTC wallets) are distributing.

Accumulation has paused. Distribution has increased.

To be fair:

• Q2 2024 saw massive whale selling after the Bitcoin Spot ETF approval

• They later resumed accumulation

But there’s no guarantee whales repeat old behavior. This is a metric we must track closely.

🧘 The Truth: We Are In a Moment of Extreme Uncertainty

This is one of the most uncertain periods of the entire cycle.

We need:

• Patience

• Emotional control

• Vigilance at key resistance levels

What Bitcoin and the stock market do next — reject or break out — will decide the next year of price action.

For deeper context, watch my latest interview with Brian from Santiment.
We break down on-chain metrics for Bitcoin, Ethereum, XRP, Solana, and Zcash.

🔥 Major Crypto News

1️⃣ Vanguard Bends the Knee

In a massive reversal, Vanguard will now allow trading of spot crypto ETFs on its brokerage platform.

That includes:

• BTC

• ETH

• XRP

• SOL

This comes after then-CEO Tim Buckley famously declared:

“Bitcoin isn’t a store of value. We’ll never offer ETFs.”

They still claim they won’t launch their own ETFs — but the floodgates to crypto exposure for millions of users just opened.

It’s also important to note that this morning, Bank of America announced it will allow its wealth management advisers to recommend a 1%–4% allocation to crypto assets starting in January 2026.

2️⃣ Sony Plans U.S. Dollar-Backed Stablecoin

Sony Bank is preparing to launch a USD-pegged stablecoin in 2026 for use across the entire Sony ecosystem.

Expected use cases:

• PlayStation game purchases

• PlayStation subscriptions

• Anime and digital content

• In-app and in-platform payments

Sony entering the stablecoin race is another sign that Web2 and Tech giants are going onchain.

🧩 Final Thoughts

The end of QT is massive.
Stealth QE is already here.
Liquidity is turning.
More rate cuts are coming.
Regulatory winds are shifting.

But charts are conflicted.
Whales are distributing.
And uncertainty is high.

The next three months will define the fate of this bull market.

Stay sharp. Stay patient. Stay ready.

___________________________________________

💥Thank You to my show Sponsors

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

Propy (PRO) is a blockchain-based real estate marketplace and decentralized title registry that leverages smart contracts to facilitate property transactions globally. It simplifies and automates real estate transactions, making them faster, more secure, and more transparent.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

VeChain is a leading enterprise-grade L1 public blockchain, spearheading a digital revolution from a sustainable, highly scalable smart contract platform.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

Aaron Arnold of Altcoin Daily sat down with me at Chainlink SmartCon to discuss the current state of the crypto market and more

___________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

The pain continues. It’s been a brutal stretch in the crypto market — for everyone except the short sellers. But if we strip away the emotion and zoom out, we know the truth:

Markets are cyclical.

They never move in one direction forever — not up, not down.
Crypto is no different.

Markets are driven by liquidity and sentiment, and while liquidity is building on the horizon, sentiment has plunged into extreme fear, hitting levels even worse than the FTX collapse and Covid crash.

Let’s break down what’s happening — and what matters next.

🌪️ What’s Weighing on the Market?

A combination of unusual events has created the most chaotic mid-cycle stretch we’ve seen in years:

1️⃣ Tariffs — the unexpected macro wrecking ball

This cycle’s curveball. Tariffs introduced a massive macro headwind that:

• Pushed the cycle timeline back

• Disrupted liquidity flows

• Triggered one of the biggest leveraged flush-outs ever

2️⃣ The U.S. government shutdown

A 40+ day shutdown clogged liquidity pipelines and froze government activity — including SEC approvals and fiscal operations.

3️⃣ Competing narratives siphoning capital

AI and Gold have become massive liquidity magnets, diverting capital that historically flowed into crypto mid- and late-cycle.

It’s been a perfect storm.

🟦 Signs Bitcoin Is Near a Bottom

Despite the chaos, Bitcoin is showing signs it may be bottoming:

• BTC re-entered the Fair Value Zone

Historically a strong reset area during bull markets.

• RSI is extremely oversold

Both the daily and 14-Day RSI is at the same levels that signaled local bottoms throughout this bull market.

These oversold conditions plus upcoming liquidity shifts give Bitcoin a real shot at reversal — and altcoins would follow.

💧 Liquidity Tailwinds Are Building

Here are the major catalysts approaching:

1️⃣ QT Ends December 1st

The Fed officially ends Quantitative Tightening on Dec 1.
It doesn’t mean QE starts immediately, but it puts us on the runway for money printing.

2️⃣ Rate Cut Expected in December

Economic data continues to soften. If the Fed cuts again:

• Capital becomes cheaper

• Investors take more risk

• Markets breathe again

Not a huge driver by itself — but a tailwind.

3️⃣ Global Liquidity Is Ramping Up

This past week Japan approved a $135.5 billion stimulus package.
Other nations are preparing their own money injections. This is bullish for all risk assets.

4️⃣ Bitcoin Dominance Has NOT Broken Down

At previous cycle tops, dominance collapsed violently. Altcoins have not experienced a true parabolic rally to new all time highs with retail participation and euphoria.

⚠️ The Big Unknown: Relief Rally or New ATHs?

While a reversal looks likely, here’s the truth:

We don’t yet know if the next move is…

• A relief rally that fades into a bear market
  or

• The start of a run to new all-time highs

The charts show serious bearish signals.
The macro shows powerful bullish forces.

I’m still in the bullish camp, but I’ll be honest — the recent action has lowered my confidence. The next 3 months are absolutely critical.

We need to see:

• Strength from Bitcoin

• A rebound in the stock market

• Liquidity confirming the macro bull thesis

If those line up, we still have a shot at the euphoric blowoff top we’ve historically seen.

🕰️ This Cycle Is Different — Timeline Extended to 2026?

The tariff shock reshaped the cycle.
We could now see this bull market extend into Q1–Q2 2026.

Look at Bitcoin’s yearly candles:

• Historically: 3 green → 1 red

• 2025 is currently red, breaking the rhythm

This could change by December, but it’s clear this cycle is not following the traditional pattern.

If this bull market topped in fear rather than euphoria, that would be unprecedented.

🌅 Despite Short-Term Pain, The Macro Thesis Remains

Despite what’s happening in the short and mid term, my macro thesis hasn’t changed:

As long as central banks keep printing money, risk assets rise.

• Fiat debasement drives asset appreciation

• Liquidity cycles dominate everything

• Bitcoin remains the best-performing asset in every QE era

We’ve hit a nasty bump — but nothing about the long-term foundation has changed.

Stay patient. Stay strategic.
The macro engine behind this bull market is still very much alive.

___________________________________________

💥Thank You to my show Sponsors

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

Propy (PRO) is a blockchain-based real estate marketplace and decentralized title registry that leverages smart contracts to facilitate property transactions globally. It simplifies and automates real estate transactions, making them faster, more secure, and more transparent.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

VeChain is a leading enterprise-grade L1 public blockchain, spearheading a digital revolution from a sustainable, highly scalable smart contract platform.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

SEC Commissioner Hester Peirce joined me to discuss the SEC’s new approach toward the crypto asset class and its latest guidance on various aspects of the market.

___________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

The wild ride in crypto continues. Volatility is shaking everyone around, but this is par for the course. The big question remains:

Is the bull market macro structure still intact?

Yes — it is.
But we’re also seeing a few warning signals from whales that deserve attention.

So far, Bitcoin is experiencing the same run-of-the-mill corrections we’ve seen throughout this bull market. Nothing structurally concerning has broken. However…

🕳️ CME Gaps Could Mean More Downside

Bitcoin technically has two open CME futures gaps at $97K and $92K.
These do not have to be filled — but historically, BTC often gravitates toward closing gaps.

This is a patience game, not a panic moment.

🐋 Whale Behavior Showing Early Warning Signs

On-chain data from Santiment shows a decline in wallets holding 10+ BTC.
This is not an alarm bell yet — but it’s something we need to watch closely.

We’ve seen similar selloffs in:

• Q2 2024 - Buy the rumor sell the news on the Bitcoin ETF launch

• Q1 2025 - Tariff panic selloff

Each time, whales returned to accumulation shortly after.

A plateau or slowdown in distribution is what we want to see next.

🔭 Despite Volatility, Macro Bull Signals Are SCREAMING

This market feels like it’s setting the table for a full reset — potentially leading to a parabolic blowoff top.
Here’s why:

🏛️ 1. U.S. Government Reopens After 43-Day Shutdown

The shutdown blocked liquidity from the Treasury General Account (TGA).
Now that Washington is fully operational again:

• Liquidity can start flowing back into markets

• The SEC can resume work on Altcoin ETF approvals

• Congress can accelerate the Crypto Market Structure Bill

• The Trump admin is pushing hard for $2000 tariff dividend checks to low-income Americans
  → another liquidity injection

💵 2. QT Ends December 1 — QE is Next

Jerome Powell confirmed Quantitative Tightening ends Dec 1.

New York Fed President John Williams doubled down:

“It will not be long before we reach ample reserves… then it will be time to begin gradual purchases of assets.”

Translation:

QE is coming sooner than people think.

Crypto loves QE.

🏛️ 3. Altcoin ETFs + Market Structure Legislation

• More Altcoin ETFs are lined up for SEC approval

• The CLARITY Act continues progressing through the Senate

• Institutional lanes are widening

The regulatory clouds are thinning.

📈 4. Companies (Crypto + Tech) Are Preparing to Go Public

• Securitize

• Kraken

• OpenAI (non-crypto, but tech-macro relevant)

No company goes public in a bear market.
Their timing says everything.

🔥 Major Crypto News

1️⃣ JPMorgan and Jamie Dimon Have Fully Capitulated

JPMorgan has officially launched its USD-denominated deposit token (JPMD) on Base (Coinbase’s Ethereum Layer 2).

Key features:

• 24/7 near-instant settlement

• Institutional clients can now send/receive JPMD on Base

• JPMD ↔ USDC swaps live

• Built publicly — JPMorgan tried to avoid public blockchains and built their private permissioned chain but it was just another walled garden. The are now building on public chains.

This is a massive capitulation from crypto’s biggest critic.

2️⃣ SoFi Becomes First National Bank to Offer In-App Crypto

SoFi Crypto is rolling out phase one: Bitcoin, Ethereum, Solana, and more. SoFi plans to expand its blockchain strategy with remittances, a USD stablecoin and crypto-integrated lending products.

This puts pressure on every U.S. consumer bank to follow!

3️⃣ Visa Direct Launches Stablecoin Payout Pilot

Businesses can now send stablecoins like USDC to users’ wallets for:

• Near-instant access to earnings

• Cross-border speed

• Lower fees

The program aims to help creators and freelancers access funds faster and across borders.

4️⃣ Senate Agriculture Committee Releases Digital Asset Bill Draft

The long-awaited draft from Sens. John Boozman and Cory Booker is officially out.

This covers:

• Digital asset commodities

• CFTC jurisdiction

• Consumer protections

• Market oversight

This brings the Senate closer to moving a full crypto market structure bill. Watch my interview with Patrick Witt, the Executive Director of the President’s Council of Advisors for Digital Assets. We discussed the potential timeline for the passing of the Crypto market structure bill and the impact it will have on the crypto industry.

5️⃣ First 100% Spot XRP ETF Launches in the U.S.

Canary Capital launched the XRPC Spot ETF — the first fully backed XRP ETF.

Highlights:

• $59M in Day One volume

• Most of any ETF launch this year (out of 900)

• Edged out the BSOL Solana ETF $57M

• Bloomberg’s Eric Balchunas:

“These two are in a league of their own.”

This is a massive signal for altcoin ETFs in 2025. Watch my interview with Canary Capital’s CEO Steven McClurg where discuss their XRP and other Altcoins ETFs.

🧩 Final Thoughts

The volatility is uncomfortable, but it’s not unusual.
The structural bull market setup remains intact — and macro tailwinds are strengthening.

This is the part of the cycle where patience pays, panic punishes, and whales test conviction.

Stay focused. Stay informed. Stay patient.

___________________________________________

💥Thank You to my show Sponsors

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

Propy (PRO) is a blockchain-based real estate marketplace and decentralized title registry that leverages smart contracts to facilitate property transactions globally. It simplifies and automates real estate transactions, making them faster, more secure, and more transparent.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

VeChain is a leading enterprise-grade L1 public blockchain, spearheading a digital revolution from a sustainable, highly scalable smart contract platform.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

Asheesh Birla, CEO of Evernorth, joined me to discuss all the details behind Evernorth’s $1 billion XRP digital asset treasury.

Sergey Nazarov, Co-Founder of Chainlink, and I sat down at SmartCon to discuss how Chainlink is orchestrating the connection between different blockchains, DeFi, and TradFi.

___________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

The pain continues across the crypto market. Sentiment is in the dumpster — even many crypto OGs are tweeting how bad things are. Despite positive macro news like the Fed signaling rate cuts and QT ending on December 1st, and signs of easing U.S.–China tariff tensions, prices still aren’t reacting. But here’s what most people are missing.

🧠 Big Picture: Macro Still Matters

1️⃣ Ignoring the macro picture – Too many traders want their bags to pump without understanding liquidity cycles and global capital flows.
2️⃣ Tariff crash delay – The major tariff selloff pushed the usual four-year crypto cycle back a bit, creating frustration for impatient investors.
3️⃣ Poor diversification – Many hold only altcoins and skipped Bitcoin. So even though BTC hit new highs, altcoin-heavy portfolios haven’t felt the bull market yet.

Every FOMC week brings volatility. It’s important to let the dust settle before calling the end of the bull market.

📊 Charts Still Show Macro Bull Structure

There are certainly bearish signals, but the macro structure remains intact.

• On the BTC weekly chart, we see a bullish retest of support — a pattern that has preceded every major move upward this cycle.

  

• The monthly chart shows bulls still in control, even if momentum has cooled.

  

• Elliott Wave analysis on the total crypto market cap indicates the final fifth wave hasn’t completed yet.

  

• On-chain data shows whales slowing accumulation and taking profits, but not at alarming levels — similar to early-year pullbacks.

And let’s be honest — we haven’t yet seen retail euphoria or the greed zone that marks every true market top.

Meanwhile, both tech and crypto companies are preparing IPOs this quarter — and no company goes public in a bear market. That’s a huge tell.

📺 For deeper sentiment and on-chain analysis, watch my interview with Brian from Santiment, where we break down metrics for Bitcoin, Ethereum, XRP, and Solana.

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🔥 Major Crypto News

1️⃣ Jamie Dimon Capitulates to Crypto
JPMorgan CEO and longtime critic Jamie Dimon has finally acknowledged that crypto, blockchain, and stablecoins are real. Speaking at the Saudi Arabia Mega Investment Summit, Dimon said:

“Crypto is real. Blockchain is real. Stablecoins are real.”

He confirmed that JPMorgan already operates a deposit coin using smart contracts to boost efficiency — adding, “It will be used by all of us.”
This is a major turning point — crypto’s “final boss” just bent the knee.

2️⃣ Western Union to Launch Stablecoin on Solana
Western Union announced plans to launch a U.S. dollar-backed stablecoin (USDPT) on Solana, issued by Anchorage Digital Bank and set for H1 2026.
Users will be able to send money globally with lower fees and faster settlement, bypassing traditional banking bottlenecks. Another win for Solana’s growing payments ecosystem.

3️⃣ Securitize Going Public at $1.25B Valuation
Securitize, which powers BlackRock’s BUIDL tokenized money market fund, is going public through a SPAC merger with Cantor Equity Partners II (CEPT).
The deal values Securitize at $1.25 billion pre-money, underscoring growing investor appetite for real-world asset (RWA) platforms.

4️⃣ Consensys Plans IPO with JPMorgan & Goldman
Consensys, the creator of MetaMask, plans to go public with JPMorgan Chase and Goldman Sachs leading the IPO.
The company also backs SharpLink, which will deploy $200 million into on-chain yield strategies on Linea (its L2 network).
The trend is clear — major Web3 builders are confident enough to go public in this cycle.

5️⃣ Spot Crypto ETFs Hit NYSE and Nasdaq
This week saw four new spot ETFs go live:

• Bitwise Solana Fund

• Canary Capital Litecoin Fund

• Canary Capital HBAR Fund

• Grayscale Solana Trust

Several issuers also updated their XRP Spot ETF filings, hinting that XRP ETF launches may be imminent.

🧩 Final Thoughts

Yes, the pain is real — but the bull market structure is still alive.
We’re in the chop zone, not the top zone. Patience and perspective are key here.

___________________________________________

💥Thank You to my show Sponsors

Uphold is one of the best crypto exchanges out there and I have been using them since 2018!

Propy (PRO) is a blockchain-based real estate marketplace and decentralized title registry that leverages smart contracts to facilitate property transactions globally. It simplifies and automates real estate transactions, making them faster, more secure, and more transparent.

Trezor produces quality crypto hardware wallets that make it easy for you to safely store your assets. It pioneered the development of self-custody for crypto assets, empowering individuals with an open-source device that enables secure and independent storage of cryptocurrencies.

VeChain is a leading enterprise-grade L1 public blockchain, spearheading a digital revolution from a sustainable, highly scalable smart contract platform.

Learn about iTrustCapital’s powerful Premium Custody Account (PCA) and tax-advantaged Crypto IRA platforms. Get an exclusive $100 funding bonus!

___________________________________________

📈Crypto Market Metrics

Here are some key data points from Santiment

Top 10 Coins Trending via Social Media

___________________________________________

📺 Recent Interviews

Denelle Dixon, CEO of the Stellar Development Foundation, joined me to discuss Stellar’s privacy strategy, the importance of tokenization, and the growing adoption of blockchain by traditional financial institutions—and more.

___________________________________________

Support the Podcast

🖥️ Crypto Course

Learn Crypto with Expert Commentary from Founders, CEOs, and Institutional Investors. MyCryptoCourse.com

📖 ReThinking Crypto Book

Get the book on Amazon

-Tony

The market chop continues, but positive signs are emerging — and it feels like we’re setting up for a major rally. Of course, nothing is guaranteed, but multiple signals point to a high probability that the next big move is up. Let’s dig in 👇

📊 Bitcoin Technicals Flash Bullish Setup

Bitcoin is currently retesting the highs from December 2024 and using them as support on the weekly chart. This is a classic move: testing previous resistance as new support before the next leg higher.

• Daily Chart: The RSI shows plenty of room for upside, and the MACD is about to flip bullish. Also, BTC is now back above the 200-day moving average, which is the bull market line in the sand.

  

• Monthly Chart: The MACD remains bullish, confirming that the macro uptrend is still intact.