There is something weird going on. Ah, we're got to talk about it. We got to talk about it. for Crypto, we got to talk about it for stocks.

But one thing to know is that of the top 13 public crypto mining companies, basically all of them sold more crypto than they minted in October. Uh, the liquidation to production ratio in October was at a a high recently of 105% meaning they sold a little a little bit more than they actually meant it. This is pretty well a Uturn from what we've been used to in Crypto. We've actually been used to less than 100% of crypto being minted actually selling certainly in July and August and September when we were at 64, 77 and 77% And you go back.

We barely break a 100 regularly. certainly not since the Crypto crash of last summer where we really broke about 370 5% liquidations HUD 8 liquidated more than its competitors. But one of the things that I'm noticing in in this buying frenzy that's happening, because that's really what this is reminiscent of, right? This chart is reminiscent of a buying, uh, enthusiasm that's occurring for Bitcoin. Obviously it.

We already know there's excitement about the 12 different Bitcoin ETFs We know we're within the 8 day window for them to be approved at this point. We know today's a holiday or an observed holiday for federal employees, so it ain't going to be today. We know maybe it'll be next week or a few days thereafter, or there's a 90% chance that'll be by January We already know all that crap. We also already know that there's talk about potentially an Ethereum ETF which is also creating enthusiasm for the alts.

Obviously, Ethereum is your largest alt. The question though, is will Ethereum actually be approved because Ethereum is built more on staking whereas a Bitcoin is not and because it provides a yield? Potentially it could fall under different quote unquote regulations that might lead or lead not to an ETF approval. And this is where I'm starting to get a little sused out. You're seeing almost pure coordination amongst the big institutions that this is it.

I mean you're starting to see Nfts start selling again that were never selling before. All of a sudden, out of nowhere, you're seeing Rock Nfts selling for hundreds of thousands of dollars. You're starting to see people like Galaxy Digitals Mike Novag grats saying things like 2024 will be the year of institutional crypto. It'll be the year that everybody, including institutions and governments get more comfortable with crypto and therefore give it the breathing space it needs to promote massive inflows.

You've got the 2024 having set up for April 2024 with targets of up to $130,000 between April 2024 to late 2025, starting at top of Bitcoin there are and and that's just a potentially a beginning because then there are people who are like it's going to go even way higher than that. And so part of me worries. and and I don't know. maybe I'm just being too skeptical or too jaded.

but part of me is a little sussed out that when we get this kind of institutional interest all of a sudden, what we're potentially actually seeing is institutions that have already propped up BT positions and they are doing everything in their power to motivate the mainstream media and influencer marketing to promote the crap out of Bitcoin going into these ETF launches. So that way I hate to say it, but they could trade out Yes, that would mean dump trade out of BTC and then go into the next big trade now I Don't know if that's true. obviously I'm just suggesting the level of institutional coordination is weird. Obviously, people like Michael Saor are going to be like we are doing great.

We have1 billion in unrealized Bitcoin profits now H Given that they now hold Bitcoin worth over 80% of their stock market capitalization of 7.1 billion duh, they're going to be Pro Bitcoin That's okay, but I'm not talking about them I'm talking about the other ones. like for example: JPM At the same time as this, Bitcoin enthusiasm is occurring, Jpm's like hey, did you know we have a Uh JPM coin They've actually been working on this in coordination with the FED for years by the way, since uh, probably about 2017. But anyway, the JPM coins is now available to clients to program their accounts by plugging in a set of key conditions, enabling them to move funds to cover overdue payments and margin calls further down the line. It may help them seiz on differences in exchange rates.

So in other words, they're now in abling certain clients to actually use the JPM coin it's currently and and in the JPM coin blockchain, it's currently being used to transfer about a billion dollars daily, which is pretty wild, and transactions used to be pretty much close to zero. Uh, but now they're actually using this system and all this news about the cryptocurrency adoption that all the other institutions are doing all seem to be coming to foot all around the same time. and I just hate to say it it sometimes I Just wonder how much of this is just coordinated enthusiasm to set up for some kind of temporary dump after uh, some form of approval actually happens now. no guarantees and that's the thing that is a bearish.

POV Nobody wants to hear that. Uh, but what I would say is in the event there is a dump which I kind of think there will be after the the BTC ETF approvals I think the Institute tions walk out they give to retail and Retail gets stuck holding. It's usually how it works in the event that actually occurs I Think people who look at BTC as a long-term tool aren't going to be phased at all. If anything, maybe you have some money that you kept on the sidelines to buy any kind of post ETF dip.

That's all. I would potentially suggest considering if you are a BTC Enthusiast Mostly because again, the level of this coordination seems odd. and I mean it's see, it's obvious, right? Like it's obvious people are like, oh, it's going to be great. It's going to be the Catalyst that enables institutional investing.

and if we get 2% of people flowing money into BTC of all the $200 trillion dollar of institutional assets exist, that's going to 3x the value of BTC Sure, there are estimates like this all day long all over the place. There's no shortage of somebody saying something good. I'm just providing a little bit of a huh. This seems really coordinated all of a sudden.

It's just a little bit of healthy skepticism. That's it. It's kind of like when I was complaining about stable coins in January of 2021. people were pissed.

People were pissed that I was complaining about stable coins way that early. suggesting I don't know where they're getting these yields from, but if something breaks, it's not going to be good. And then sure enough, you know we had the teruna collapse and blah blah blah lot of bankruptcies of Celsius FTX Voyager blockfi I mean the disaster in the crypto ecosystem Anyway, that is now mostly behind us, which is good. There's also, of course, the idea of the short squeeze occurring.

Now this makes of course sense that institutions would also likely exit their shorts prior to a Bitcoin ETF approval. I Wouldn't be surprised for them to reload those shorts the moment that approval happens. Like you get approval, you see the line go up. Give it 20 minutes max.

I Think it starts going like BTC starts falling again temporarily I Don't know how low. uh mean we could speculate on it, but it's just something that's sussing me out a little bit. Uh, now we are one minute from the closing bell here. Uh, I would say probably at the very least retrace back to 37k.

I Don't think we'd go back to 28k. That would be a little extreme. Maybe the temporary Support over here at 31? Uh, but I I Don't know that you should expect to immediately go up to 42 or 48,000 Uh, just because of the approval? I Think that's already being heavily priced. But we'll see.

We'll see anyway. Stock market is, uh, holding firm with positive gains here going into the close. For a lot of companies, you've got Teslab 2% matching the NASDAQ Etsy's even up 2% Enas is up 3% Oh my gosh, could it be a bottom? Oh, don't say that. that'll jinx it.

Knock on wood? That's not a jinx. AMD 4 and a half% folks TSM TSM Rallying the entire chip sector today on monthly sales beats up 6% Nvidia is up 3% Disney Giving back some of its gains after its earnings report. Uh, you've got Google up almost 2% Paler Baby and I just opened a position in that sucker. Nice 7% Let's get the Bell now.

flattish Shi curve is not the worst thing in the world regard goinging top five. Well, there are a lot of medals up there on that Podium Today for good reason City's doing the honors recognition of Veteran mind for US Marine for birthday as well as weon. Well, there you have it. session High into the CL look at that closing bell on the session anyway.

Yeah, uh, really interesting I mean uh, we'll we'll see how this this evolves, but very very cool to see Paler. just kill it today again. I Think this is the best AI software play that is public. there is in my opinion, no better AI software play than Paler uh with the exception maybe of Tesla but I consider that more of an Autos play.

Uh, and and to me, nobody holds a candle to it. That's public. you know, obviously like open AI has got some strength. Uh, we saw some of these this morning, including what's going on with Purple? You've got Simon Property Group Sitting at Uh 115.

Let's look at the Russell 2000s. the small caps up about 1% some of the small caps. Let's take a peek here. We got Matterport Matterport sitting at 240.

You've got Sofi sitting at uh, just under seven bucks there, closing up about 1% on the day. Uh, so uh. Now the question is, how how did treasury yields do? and is that what drove markets higher today? Well, you've got gold back down again 1939. You've got oil that was actually up 2% today, and treasury yields mostly unchange today, which is quite interesting.

Uh Jack Oh, that's interesting. Now there's this talk about. Or you see some headlines here: T Bill and Chill T- Bill And chill being referred to. hey, just buy your treasury bills and forget about it.

You know, grab your two five, two to five year. uh, uh, you know, treasuries. Grab your your 10 to 20s, grab your sixms, whatever you want, some cool opportunities to just milk those, and and chill. Uh, Mary Daly From the Federal Reserve she spoke today.

San Francisco Federal Reserve President talked about hey. You know, the news on inflation has been fairly good, and we shouldn't dismiss that, but it's too early to declare victory. That could have potentially been one of the catalysts that helped es escalate markets today. This idea that, uh, you know, quote unquote news on inflation has been fairly good.

That's actually pretty optimistic, especially since you got deflation being exported out of China And on top of that, when you look at the economic consumer sentiment data that's come out over this last week, it's horrible. Economic optimism is at the lowest levels we've seen since 2011, which was basically the start of the last 10year. Bull Run You've got the University of Michigan sentiment survey this morning. came in at 60.4 well below estimates.

One-year inflation expectations and fiveyear inflation expectations all came in higher than expected, so should have had pain today, but we rallied right through it today. Maybe it's just, uh, a middle finger to the selloff that we've had. You've got the 5-year break even down another one basis point down at 2. 28.

that's down from 2.29 this morning. Fiveyear forward break even that one is sitting at o nice plummet 2.34 That's almost in line with the fiveyear. That's actually fantastic. Fed term rate basically unchanged.

a 5.35 really? uh, suggesting that uh, uh, you? You do not have uh, a real fear of the FED continuing any conects and this is this is almost not moving. There's almost zero movement. uh in uh uh, the Federal Reserve's terminal rate expectations right now. almost zero in V up 11% after dropping like 99.9% So I I Don't know if that's something that cheer about.

Back to moving up with Crypto here. I Can't believe Blink Charging actually is doing as well as it is. It beat Revenue by like12 million. but I think this is a terrible company.

I've been bagging on this company more than I've been bagging on plug and plug. Power was down 40% today as potentially talk about not even being able to survive anymore that they might go bankrupt. So you know here you got up in this sort of group of like near bankrupt companies. you next to that have trade desk which is a phenomenal freaking company that missed earnings guidance by 5% and sold off 16% Meanwhile they beat on EPS they beat on uh on on Revenue numbers.

Not only that we also what did we get? We got well Peak at the earnings call. what do we see in the earnings call? Hey we think there's a one-time decline in Q4 Revenue because of what Auto strikes and movie strikes. That's it they're calling it one time Now that doesn't mean it is one time. but boy I Think what this was is hey, you know what markets are like trade Des Been trading high for too long time to sell them down.

Give them the Grim Reaper aack uh that's uh, that's the stock market for you I think there's a lot of uh, a lot of institutional trading that goes on in a lot of these Securities to just Rob people into into selling stocks cheaply and uh and screwing them. That's how people can't build wealth because they get they. They got a paper hand they got they got Dum All right, we've got the billionaire Home Depot co-founder Bernard Marcus backing Donald Trump at the same time as Hawaii luxury hotel ditching Trump branding to join the Hilton system instead. Wow.

Uh well. that's uh. you know some people like going to the Trump hotels even more now. It's kind of like are you really losing I don't know.

Uh. Anyway, so uh, what else do we have? Well, I think that basically covers most of it trying to see uh briefly here. What else we have on the crypto front? Uh, I Do think the crypto front is something to be paying attent or something worth paying attention to? Uh, given the potential uh, for some Market manipulation here wouldn't surprise me. Uh, there are some people though that are suggesting you could also have this post ETF launch dip.

There's one individual who's suggesting you could end up facing a 20% draw down. Uh, it seems like it might be a little bit of a high draw down there, but uh, we we'll see very far and few between. Find somebody bearish on crypto. Right now, it's hard to actually find anybody that's bearish on anything that's going up because that would be un poopular.

So uh, yeah. getting that uh, getting that perspective sometimes is a little unique. Okay, so uh, we saw the ETF uh window open yesterday and I think that's what we got. Let's see what we have here in the chat here if there's anything here.

The Von Pdut was excellent. Oh, you know what we might have to do is do a reaction video to that. You can always send me videos to react to on Instagram or on Twitter follow me there at real meet Kevin or meet Kevin on uh Twitter or sorry Real Real Meet Kevin on Twitter meet Kevin on Instagram and uh, thank you so much everybody for watching. We'll see you soon in the next one.

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