so it is officially quarter three and that means that today could be a day number one for the u.s recession for those who don't know recessions are defined by a fall in gdp in two consecutive quarters and the us gdp for quarter one decreased by 1.6 and while we don't yet have the official data on quarter two until july 28th the atlanta federal government gdp tracker is running currently at a negative one percent suggesting that the us economy has officially entered that recession if you are appreciating these daily market updates don't forget to drop a like down below subscribe to the channel fourth of july is coming up hopefully you guys have a good weekend after this and let's get started so in today's market open both the s p 500 and the dow jones is up about five percent while the nasdaq is trading about point six percent higher currently the global crypto market cap is up just slightly one point two eight percent nothing to you know rave at home about but bitcoin is up about one point two percent as well sitting at nineteen 19 362 but still under the 20 000 support level now on a day like this we are seeing mixed red and green but we're getting overall green within the market for a majority of the top 100 all coins taking a look at the four hour chart we can also notice that bitcoin has had some strong resistance at the 20 000 level which is gonna be that top orange line for an entire 24 hours or six candlesticks bitcoin has fluctuated above and below that 20 000 level which is acting as support but it finally broke below plummeting to 18 600 last night while support levels get broken they often flip into becoming new resistance levels currently bitcoin is now trading in the 18 500 range to the twenty thousand dollar range and if bitcoin breaks down below eighteen thousand five hundred dollars we could see a retest of this bear market low sitting at seventeen thousand five hundred dollars like we've stated throughout this week so bitcoin is looking like it'll probably close out another weekly red candle unless it can find itself going above the 21 000 level before monday bitcoin if that does happen has closed the red candle 12 out of the past 14 weeks so with all that being said bitcoin's price and activity plunged bitcoin making it the worst quarterly loss in 11 years with price and activity on the blockchain both tanking over the past three months the second quarter ending yesterday saw bitcoin's price fall from around 45 000 at the start of the quarter to trade at nineteen thousand eight hundred eighty four dollars before midnight this year is going to represent a total of a 56 loss and it is still the steepest price fall since the third quarter of 2011. at that time bitcoin did fall from 15 40 cents to 5.3 cents which was still a loss of over 67 about a decade ago now on top of that and thanks to sky-high inflation and rising interest rates the traditional stock market has also been getting trashed with some calling it for the worst quarter ever the s p 500 index is officially now down about 20 in the first half of this year which is the worst start of the year since believe it or not and 1962 when price return was still back at minus 26.5 i want to highlight here the importance of the statistics this means we haven't had the worst half of the year in over 60 years now taking a look at your screen we can see a visual of some of the worst trading dates since we've had since pretty much the stock market had first opened now aside from 1962 we have 1940 and 1932 also having some pretty strong terrible days within the market so with all these significant drops within the s p 500 and different assets what are investors doing what are we doing what is retail doing what is warren buffett the whales the illuminati are people all doing the same thing are people all just kind of waiting to see the market going down even more or have people started buying up the dip well let's take as an example here what warren buffett has been doing since the entire market has been going into a downturn in this article by forbes they state here billionaire investor warren buffett has used the ongoing market sell-off as an opportunity to buy the dip and add several new major positions as his investing conglomerate that is going to be through berkshire hathaway which deployed tens of billions of dollars into stocks during the first quarter according to new regulatory filings so it looks like it was disclosed that they bought several new stakes late on monday and this article was about a month ago including 55 million shares of citigroup and 69 million shares of media giant paramount global worth about 1.9 billion dollars now berkshire hathaway has also bought some other energy companies like chevron and occidental i might have butchered that if i did please forgive me ever since warren buffett decided he was going to buy up some additional shares within the stock market we haven't seen a huge rebound like many people would expect oftentimes investors think anyone who's written a book or who's more successful in their field or has been around in the game for many many years that they know a thing or two about being able to time up the bottom but even with this we can see that individuals like warren buffett they're able to buy it up but they're not stressing out they continue to buy up the dips and they may not be able to time up the market bottom completely and they may not get it right every single time but they are playing this with a long term run and i do believe when we see individuals like this making huge bets into the market it's something to take note of on top of that we also got word that both el salvador and microstrategy purchased more bitcoin as the price dropped closer to 19 000 earlier today so el salvador they didn't buy a lot but i would say 80 bitcoin is still worth a decent change of money so just doing a little bit of quick math it seems like el salvador has bought about 1.5 million dollars worth of bitcoin microstrategy going even more ham in this market they went ahead and bought 480 bitcoin now while market volume shows that everything is low and we're still seeing further liquidations happening and acquisitions that we'll talk about in this video including block fi and ftx making some bailouts some of the stuff that we've discussed over this past week will notice that while companies are looking for different opportunities they're finding it in different ways too while some of the old-school traditional investors stick with their cup of tea and what they know whether it's stocks or some of the other companies are continuing to buy up bitcoin which is completely fine we also have other companies looking to buy up and seize the opportunity of other companies still related within these markets this shows that people are buying up the dip the whales are making moves and it looks like even amidst this bear market they are still choosing to buy and to move forward regardless of how things look in the short term now now according to crypto analytics agency glass node we can also see that bitcoin whales are now holding more than a thousand bitcoin and they're still hodling and buying up the market dips during the crypto market capitulation we can also see from additional data that whales have been purchasing on average 140 000 bitcoin every month directly from exchanges and now control about 45 of the total bitcoin supply so bitcoin accumulation by wales began back in april and increased until late june when the bitcoin price reached about 20 000 still where we are sitting at now if the whales know a thing or two if they have an idea of what the economy's gonna do and they're buying loads and loads of this asset right now could they be on to something could we trust them have they made right decisions before in the past whales are able to manipulate the market they know when to go in and if we're able to look at data and notice that they are ramping up their bias during this time you need to then ask yourself the question should i be following the whales now on top of the whales going ahead and buying up the dip though we are getting some data that minority holders with wallets of less than one bitcoin also known as the shrimp gang they are now intensively accumulating at a pace that hasn't been seen since march 2020. data is now showing that shrimp's purchased an average of 36 750 bitcoin per month and currently control about 1.12 million bitcoin which equates to about 5.87 of the total supply so brian you just hit us with a lot of different stats numbers what warren buffett's eating for breakfast let me tell you all what this means right now we're seeing whales shrimps companies countries all playing the long-term investing game for bitcoin which is more than amazing to see during times like this where market fudge can go into the veins it can start freaking you out like a little disease you start seeing other people making initiatives and moves within the market and realize maybe we are close to the bottom maybe this is a time where you should be a dollar cost averaging in and knowing that if you go long and you could take advantage of some of the best opportunities that a recession can provide you and focus on what is in your control we've been hit with all these different liquidations you know ever since tara luna started to come down it's just been one after another there was an open sea bug that happened yesterday and then on top of that it's just a lot of people feeling the fud within their blood now no matter what happens with the market if you guys happen to be watching this just know that you are still one of the many few that decide to educate themselves and know that crypto is around and i'm telling you this is going to be one of the investments that if you are able to stick through it it will pay off at the end if you're a short-term thinker it's going to be hard to win in this market if you're a long-term thinker you will win and i believe it's just as simple as that you think long term you continue to buy the dibs you don't care if your portfolio was up 100 before if it's down 50 or more now you don't care you play this for the long term run because you know that crypto's here to stay you know the innovation is being made and you know that this is still the future so guys if you did enjoy this video like the usual don't forget to drop a like down below check out the link down below in the description for i trust capital if you guys do plan on buying up the dip and you want to do it tax free itrust capital allows you to invest into crypto using your retirement accounts i trust capital is the number one crypto ira platform in america you can set up a fully self-directed retirement account with them with over 30 available assets so if you think crypto is still a little too volatile for your own sake you want to go even more conservative they have other assets that you can invest into as well now as a special deal for my jungi nation if you guys want to check them out use the link down below create an account with them and earn a hundred dollars into your ira account just by signing up using the link down below and leaving your account funded for 30 days on top of that if you guys have not yet follow me over on twitter and on instagram don't forget to give me a follow there if you do please watch out for impersonators and scammers as they will follow you and dm you trying to sell some things and uh i would just say don't fall for it on top of that if you guys want to have access to my patreon group for our exclusive discord you can get alerts from some of our signal analysts technical analysis from some of our best advisors as well as access to a community of other like-minded individuals during this time like the usual if you guys made it to the end comment down below the secret code word for today let's do fireworks because 4th of july is coming up hopefully you guys have an amazing weekend and i'll see you all soon peace.