After enduring the s p 500's worst week in two years, economists at goldman sachs are now saying that the risk of a recession is rising even higher than ever. The economy's future is still uncertain from interest rates to inflation and the ongoing war in ukraine. Now, in today's video, we'll discuss what's in store for bitcoin and the crypto markets, if the us does enter a recession which i believe we are currently in - and we're also going to be going over some major headlines in the market right now and what you should Be doing next if you are liking these daily market updates, like the usual guys, don't forget to drop a like down below subscribe to the channel if you haven't done so already with that being said, boom, let's hop into the computer and see what's going on in The market for today so first things. First, i want to actually answer a question that i've been seeing a lot, which is: why are we continuing to see bitcoin and all coins and pretty much the entire crypto market going down over and over again on these weekends? Now believe it or not.

The reason for bitcoin's price decline is a variety of many macroeconomic factors, but there was one instance where an etf one of the largest in canada went ahead and dropped its major holdings. It was reported that this etf here had holdings dropped from 47 818 bitcoins to 23 307 between june 16th and june 17.. Coincidentally enough, these were the days leading up to the huge price tip of seeing bitcoin fall down to 17 000. Now, on top of this specific etf, we actually had another canadian crypto fund called three iq coin shares.

Where from this, we were able to witness some similar outflows, dropping from 23 917 bitcoin to 12 668. On that same day, now, as most guys know, 20 000 was a strong psychological support level for bitcoin, where a lot of investors and even the next level etf investors could have been anticipating an upcoming flash crash to be able to offload their positions and also be Able to buy it lower at another time. What we saw over the weekend was once we had larger institutions offloading a majority of their positions. We then had liquidations closing in driving the price of the asset down even lower.

It almost became like a self-fulfilling prophecy, as these etfs had their most significant daily outflows ever now. To give you guys some easy answers, just quick, quick numbers. If bitcoin breaks down below 20 000, we should be able to see a retest of the 17 to 18 000 support level once again, so even on a day like this, where the global crypto market cap is still hovering under 1 trillion dollars, i do expect to See much more volatility ahead at the time of filming this video, i wouldn't be surprised if bitcoin does slip under 20 000 once again this week, just because seeing any type of upward movement seems to be a really tough catalyst, knowing the current circumstance we are in Within the economy, on top of that, the bitcoin long and short ratio has also declined to 1.05 on finance futures. What this means is nearly 50 of traders, with an open position in bitcoin are now net short, so bitcoin was to rebound.

This would drive the price higher, as short sellers would be able to cover their positions and get squeezed now. This would be the best case scenario that would play out for bitcoin, seeing a little micro gamma squeeze mixed in with the relief rally which i do think could propel us at least towards 30 to 40 000 once again, but that is still a very small chance Of happening amidst this climate, you want to make sure you take into consideration the current crypto fear and greed index and even refreshing it for the day of june 22nd. Even though it's going up a little bit sitting at 11, it's still pretty low. If we take a look here at the psychological pitfalls of a market cycle and try to get a note of where we are with the volatility, i would say even right now, if bitcoin is still within that panic mode, seeing fear and greed index sitting under the 20Th level, i would expect for us to see a bit more volatility still coming ahead now.

I do want to make note of one specific statement that they mention on this chart and it states in order to achieve their long-term investment goals. Investors must make rational informed decisions, yet many fall victims to the emotional roller coaster of a typical market cycle below we illustrate the mentality of the herd. So the big thing to note is zoom out. If you guys are worried about your positions, if you guys are caught up in that volatility, just know that this is all normal within a crypto cycle.

The last thing you want to be doing is selling anywhere near the bottom say we are even further past this scale say maybe we're right here within the agony and you decide to sell right before we actually have liftoff within the market. Now going back to the long and short ratio and just talking about some possible opportunities for bitcoin to play out over the next week and month, the last time the long short ratio was around the level that we're seeing right now was back on june, 6 and June 7., if we take a look at the bitcoin charts for the price action on those dates, you'll notice that bitcoin did drop significantly during that time as well on your screen. The blue arrow on the chart was on june 6, when the short sellers did pile up. Bitcoin's price at that point was at 31 000 and in the next seven days we saw a drop down over 11 000 sitting at 20 000.

At one point now, although it's impossible to know if this would happen again, if whether or not the short and long ratios would take into any play for the current action of bitcoin, i just want you guys to know that this is always a realm of the History repeating itself once again, i think it is very likely that we could see bitcoin take another stab at the 17 000 price level and in the case that we don't, i would expect us to still be hovering around the 20 to 30 000 zone. Even with the current price action of bitcoin, many people are asking brian well, when should i start averaging in, i even think anytime. Bitcoin is under 25 000. That is a serious deal right.

There 25 000 is still over 60 from the all-time high that we witnessed back in 2021.. Now, if we're not talking about bitcoin, i will say that there is so much opportunity going on within the all coins as well. It is really just unbelievable to me. Just the newer investors mindset and how much greed can take into factor because it seems like when solano's breaking out of 150 to 190.

That's when people were most interested when solana even had its all-time high of 258 dollars, but now that you're getting it on a discount of almost 90 off on the clearance rack. Most people don't even care to bat an eye if you're bullish on crypto a few months back. You need to ask yourself the question: how come i'm not bullish anymore? Is it simply just because the price of the asset is going down or has anything fundamentally changed with these tokens? Now there is one thing to note and is the fact that the crypto market has still been following along the s p 500 index, alongside other indices related to the stock market. According to analysts, we actually got some data that the s p 500 index in a previous bear market didn't bottom out until inflation reached its peak and then it reversed.

Given the current correlation that we've been seeing within the last month, i believe the price action downwards. Still may not slow down until inflation comes to a standstill. Now after this month's cpi report, many investors and analysts expect more pain in the markets, since the aggressively hawkish fed policies still have not really affected inflation. So far, my thoughts on all this is that predictions often confirm what investors should be doing when we have analysts coming in.

They are analysts for a reason. As long as you're able to get a reliable source, i will say that investors were pretty optimistic, that bitcoin wouldn't even ever drop below the 200 weekly moving average, but it did. We saw it break the support level. 20.

000. We've seen it dip down below 17 thousand dollars just this past weekend, and i do believe that more volatility is surely ahead. Now keep in mind. There will always be individuals, analysts, brian jones out here, claiming what bitcoin may or may not do in the future.

But i just wan na say no one knows what's gon na happen next, but you as a viewer and as an investor can make sure that you set yourself up for success just by investing periodically and making sure you take your emotions out of this trade. If the bitcoin bear market ends and begins the new bull cycle, i know you'll be happy. You invested because that's when we'll see that recovery, that's when we'll see those portfolios going back up. So if you guys are interested at all in starting your investing journey, don't forget to check out the sponsor for today's video down below in the description public.

So public is an accessible mobile. Investing platform designed to help all investors from beginner to experts, learn and be better investors on public. You can build a portfolio with a wide variety of assets from stocks and etfs all the way to crypto and soon even nfts and other collectibles public has thousands of stocks in etfs on the platform, as well as over 30 cryptocurrencies. Given the current turbulence within this market for both stocks and cryptocurrency, i have to say public actually has probably one of my favorite features amongst all trading platforms, and this is the interactive social community aspect where you can go ahead and share ideas chat with millions of Investors and see what other people are doing right now, if you want to go ahead and join me in the community to see what market trends i'm following, don't forget to use the link down below in the description and you can get up to a thousand dollars To invest when you sign up and make a deposit, thank you to public for sponsoring today's episode and back to the video.

Now during the bitcoin bull market, a lot of investors were anticipating the first etf, where we can buy crypto through a stock market exchange. Now what has been happening within this bear market is pretty interesting. We actually have the etf coming up for crypto, but instead of investing long for a lot of these positions, this etf was made, so you can bet against crypto and to short bitcoin. This etf provider is called pro shares.

Currently it is trading under the ticker symbol, b-i-t-i also known as bitty bitty. Whichever way you would like to pronounce that - and this here provides a bearish opportunity for anyone to profit on bitcoin's declining price action. Now this etf here attracted more than a billion dollars in assets in its first two days of trading, and the pro share ceo, michael saper, is hoping that the new etf will mirror that success. I don't know if it's coincidence, we got michael saylor out here.

This could be his arch nemesis. It could be his evil villain. It could be the mr opposite, mr negative, i do think even though this is a short based etf on bitcoin, it's still beneficial, because people can still get exposure to the crypto markets. Now i personally don't know how eager people would be to jump on a bitcoin, shorts etf right now, when the asset is actually down 70 since it's all-time high, but i do believe you know if this came out a little bit earlier.

We could have seen a bit more damage happen to this asset. The main key point to highlight through this is that the sec's approval will likely open the floodgates for other etf providers to create their own short bitcoin linked etfs, and hopefully we get some actual long up based etfs too now in terms of the next headline. Twitter is actually a step closer to approving the 44 billion buyout deal with elon musk. So in yesterday's bloomberg economic forum, elon musk, went ahead and listed three unresolved issues.

Halting the twitter acquisition deal number one. He still hasn't gotten clarity about twitter's claim about the fake and spam accounts that comprise less than five percent of active users. There's so many scam accounts. If you guys follow me on twitter you'll get followed by fake brian jung, i've reported them.

I've even shown twitter. A photo of my id to verify to me still want to take it down. They say it doesn't violate their terms. This is definitely an issue number two debt refinancing for the deal will need to come together.

Obviously, all the assets have gone down. I believe the value of twitter has gone down significantly since elon musk has announced this about what a month or two back and number three his bid requires a shareholder's approval, so, according to an sec filing the board of directors at twitter came around and is right Now, at a 100 in favor of this acquisition, if, given the green light, stakeholders would actually receive 54.20 for each share of the common stock in the company, which is a significant premium over the 39.31 share price at which twitter was trading before elon musk revealed this Purchasing stake all right, so if you guys did enjoy today's video, don't forget to drop a like down below, there's a possibility. I may not upload thursday and friday. I'm gon na try we're gon na shoot for an upload, but just in case i don't it's because i will be in new york city.

If any all are in new york. Send me a dm or something i'll be there with my team just having a good time networking seeing what the vibes are within the uh crypto community, because i don't think they're that good right now, if you guys want to see what i'm up to follow me Over on twitter and my instagram, just please be careful of any type of scammers impersonating me. I don't have a telegram another email like i just i don't reach out to people like that. Please be careful.

On top of that. I also have an exclusive discord group, where you can check out the link for that down below in the description the secret code word for today's video by the way is going to be jungle, comment down below jungle, if you guys made it all the way to The end, thank you all so much for watching this video and until next time, peace out.