Milk Road PRO researchers on Bitcoin passing $100K

Transcript

GM good morning welcome to the milk Road show The Daily crypto show that's as rare as finding someone who actually returns your Tupperware I'm your host K rehead replacing Jay who is I think in Mexico on vacation or at a wedding something like that and today is a pro takeover we've got Martin who is here who is one of our milk Road Pro researchers and Lead writers over there in Pro uh and we are going to be discussing the 100K Bitcoin we finally made it friends we finally reached the six-digit Bitcoin uh we're going to talk about what that means for the crypto industry what it took to get us here uh and what we think happens next so we'll touch into some of the altcoins eth Solana uh and uh maybe some stuff around the the Strategic Bitcoin Reserve um

what do we expect to happen now that we've hit 100K we are going to dive into that and give you guys some Alpha from myself and from Martin uh before we get into that though let's take a quick second to hear from our sponsors who make the show possible meanwhile is the world's first licensed and regulated life insurance company built for the Bitcoin economy they do everything in BTC you pay in BTC they pay claims to your family in BTC you take out policy loans entirely in BTC when you need liquidity protect your family from life's uncertainty and a broken Financial system build intergenerational Bitcoin wealth while the cost of living skyrockets in dollar terms plus get all the tax and legal benefits of life insurance now in Bitcoin visit milroad

docomo the wait list and get early access to the world's first Bitcoin life insurance all right we are back and Martin welcome to the show once again it's good to have you here we're celebrating this is a big day we're at 100K it happened late last night EST I think is around like 9 or 10 p.m. I was on my couch watching Martin you were probably sleeping because you're in Europe were you sleeping when this happened yeah I was exting unfortunately for the Europeans they didn't get to uh didn't get to experience it it kind of happened out of nowhere to be honest we were sitting at like I don't know 998 97 all of a sudden it just ripped and it went up all the way to about 104 I believe and uh and now we're sitting what 102 416 currently

uh in the charts but um it's a big moment I think for for the industry for us to hit uh for us to hit 100K it's something that we've talked about and memed um for a really long time and it took a lot to get us here this this image that comes up here is quite interesting I have it on the screen right now um which is basically looking at all the different crashes and failures and and struggles we had to go through to get to this point um I mean we had the mount gaau crash back in um was that 2014 we had a China ban we've had an Ico crash back in 2017 we had the pandemic crash back in 2020 uh we had the FTX crash the Tera Luna crash uh and uh and so many more things that happened

where people were calling Bitcoin debt Etc Bitcoin has gone down like 50 60 70 8 80 90% draw down so many times in the last what is it about 15 years uh and finally today uh or yesterday we have hit our 100K which is pretty wild um this one picture was quite interesting which is just looking at the the bullet uh at Trump's head because this could have really changed things we all kind of forget about this what is just a couple months ago that um there's assassination attempt on on Donald Trump if that happened like what was this like a millimeter from hitting him it hit his ear if it would have hit him though and actually killed him we would had a civil war and probably not had 100K Bitcoin in my opinion um I don't know but it's pretty wild what we had to get through

to get here what do you think of this Martin and and where do you think what does this mean for the industry does do things change here like what are kind of your thoughts as we as we hit 100K yeah uh well I mean there were signs before that Bitcoin is eventually gonna hit this 100K levels and uh yeah now with Trump uh uh winning the election everyone must be bullish like there is there is no way that you are not bullish with Trump being president and like everything he says everything he does everything he's gonna suggest probably and also what he's gonna do it all is like signaling okay crypto is here to stay now it's very leged

business and they are gonna put a green light and make sure that all the legislation regulation there on crypto is like uh clear and everyone is safe to work in crypto and uh there are no debanked or any stuff like that so I can be more bullish what a journey but we are here this is the best time to be in crypto and I'm so excited to what's coming next yeah and congrats to all the listeners that are here today I don't know but I'm assuming many of you have been around for a long time uh maybe you bought Bitcoin back at 20K or maybe 69k at the top of last cycle doesn't matter where you bought it uh as long as you bought Bitcoin you are pretty much up today which is pretty sweet but for

those who have been through multiple cycles and a lot of these crashes um pat yourself on the back it's a big achievement it's pretty cool I think the other thing that comes from this like uh yeah a lot of this came from Trump once Trump was winning it was like okay this is inevitable we're definitely going 100K it's not a matter of if it's a matter of when at this point it came a lot faster than I thought I thought um earlier I think my predictions for 2024 were that we were going to beat alltime highs I didn't think we get to 100K in 2024 I thought this was a 2025 thing but um I guess we're we're front running a lot of the growth uh due to Trump um when I think about like what happens now there's sort of a couple scenarios like

one you got to think about does Trump actually do this strategic reserve for Bitcoin if that does if that happens I think everything we think about crypto changes you can screw your fouryear Cycles uh you can screw the altcoin index and the Bitcoin dominance like Bitcoin actually dominates in that world and everything else doesn't really matter for a little bit I think um and you can move your your charts and your ta none of that stuff actually matters um you know Trump comes in what January 20 does he really do that right off the bat does he get some of this crypto regulation in right off the bat I'm not sure I think crypto regulation yes I don't know about the Bitcoin Reserve Martin what's your thoughts on the Bitcoin Reserve is that what's going to and actually before I ask you that question you know we've had all these

like key moments that we had to hit right it was like the Bitcoin ETF right and that was our big runup then it was like okay Trump winning that's our big runup 100K was our big meme for I don't know years and years and years outside of the Bitcoin Reserve what's what's left right like uh I guess there's corporates buying which is currently happening but like we don't really have that big next step I don't know what the big like thing is that we're all waiting for now other than to me it's probably that Bitcoin Reserve what do you think and and do you think that's actually G to happen yeah I feel we are reaching the point where like there is not many things that can that are still out there that can kind of cut up hold the price of Bitcoin to go up like you know it's

already two trillion asset at this point and like pretty much corporations I'm pretty sure they are all looking at the Bitcoin right now and you know trying to figure out whether they should edit on their balance sheets or not and like you know Michael sailor was presenting uh last week or this week I don't remember to Microsoft and I think this is what we are gonna see and the question about if um Bitcoin will be uh strategic outside for us I don't know I don't really have any opinion here but yeah what do you think I I definitely don't think it happens in 202 five like a lot of people

are saying I think there's just no way I'm not even sure that it happens in the next couple years um and I think there's a a clear reason of why this doesn't happen and I think what people don't understand is one it's going to be really hard to like actually pass and get through right Trump has never actually said he was going to do this this is more like Lumis and some other like I think they're senates or or congress people that have have talked about it um but and they're the ones that are trying to put this bill through it's never really Trump has said he's actually G to do this but more I actually just don't think the US can really do it because the US is their their dollar is the global Reserve currency and when you are a country or a

government and you have a reserve asset for your currency you do that when you're worried about your currency failing right or that something could go wrong with your currency so like other nations do this the US doesn't do this because it is the global reserve and so if all of a sudden they announce a Bitcoin Reserve currency what they're saying is we are unsure if our dollar is going to be safe and we need to back it with something else and so I just I can't see the FED doing that and and the treasury doing that and like putting that out there because what does that do for the dollar like probably not really good things and so I just um I can't see them actually pulling trigger on that uh and so I think it's a very I give it a very low probability like I would say

we're like under 10% chance of that happens uh in 2025 and then like maybe that percent goes up a little bit higher in 2026 I think on poly market right now it's like a um there's like a 25% chance it happens in the first 100 days of Trump's presidency uh and so we'll see I don't know they got the election right but I just I can't see them actually doing this I do think what they'll do is announce that they're not going to sell the Bitcoin that they've confiscated they've got like 200,000 or something like that Bitcoin and um I think they'll announce that they won't sell it I don't think it'll be in the terms of a strategic Reserve um but yeah that's that's my take any anything you would add it feel it feels like you know what can be more than us

considering to add Bitcoin is their strategic Reserve asset like it's it's the end game there is nothing more that you can ask for like you know everyone's using Bitcoin today now Corporation and now we are talking about States it's yeah the journey the Bitcoin went through and the whole crypto from you know using Bitcoin as a as a money on on some black markets and now we are at this point and it it's just insane yeah uh what I do see of the 100K thing though is this was we always said that when 100K hits this is when retail comes back in now we kind of front ran that with Trump winning retail really came back in in the last three to four weeks

I think I talked about this the other day on the podcast um but we have just seen insane numbers at milk Road I know like Phantom wallet and all these other things have seen insane numbers I think coinbase is just going to have um double triple quadruple active users when they come out with their Q4 uh earnings next year um but what I see as like when 100K hits it's going to be all over mainstream so media is gonna pick this up today like we're recording this the you know the morning after we H 100K I think it's G be all over I was going to say the newspapers but who reads the newspapers anymore but it's going to be everywhere so Boomers will hear about it mainstream people are going to hear about it and um I think that this you know run of of retail coming in of last

few weeks is only going to escalate even further now and I think that this is going to create even more of a bit of craziness that we're going to see in Bitcoin sure I think Bitcoin continues to go up here but I think this is going to drive a lot of capital into the altcoins as well um I think like we've already seen xrp and all these kind of Dino coins we called it going up I think that actually might continue here I think ethereum are going to do really well I think the whole industry is going to kind of level up here because retail is about to flood back in um and and probably institutions too like I would bet ETF flows start to pick up even further here um both on bitcoin and eth I think a lot of capital is going to

come in real quick uh and December's going to be a pretty crazy month um and then I'm a little bit unsure of what happens after that January February seems a little bit dicey but I think we're going to get a little bit in front of our skis here um what's your expectations yeah um I agree I think we can hit like maybe 110 120 and then expect some correction and uh yeah so like q1 next year probably uh you're are gonna see some um I don't know 20 30% correction then then there will be another lag up and we will pass the alltime highs again but like people keep asking if we are in different cycle this time or is it gonna be the same as

always and so far it it feels like it's going to be the same as always like Bitcoin leads the way now Bitcoin was kind of around 100K for some time but altcoins started to pump finally so it it all feels like very similarly to previous Cycles yeah it's so weird we were calling like when we get to 100K we're going to start receiving messages from like like old people or Old Friends whatever I literally got a message yesterday from a guy that I met when I was in Brazil earlier this year haven't talked to him for six seven months uh what up Bruno in case you are watching this I'm pretty sure you don't but uh he texted me and was like Hey man long time no see long time no talk I I want to get some Bitcoin what's the best

way for me to buy it and I hadn't talked to him in six months and so I just kind of laughed and I was like I knew this was gonna happen and it was like it happened when Bitcoin hit 99k and I was like this is crazy so it really does feel like the same thing now do you think so you said Bitcoin probably goes up do you think we go further like is Bitcoin dominance top now and we're going to go full on you know bananas Zone into everything else or do you think Bitcoin because it reached 100K still has some strength in it because of that sort of meme effect and it's going to draw in more people no I think Bitcoin dominant stopped and now uh yeah we are gonna we are gonna see more flows into altcoins I feel like 100k is kind

of psychological level for many people and now you know basically everyone is already in profits so 100K maybe now when all the people like being in profits and see all the altcoins starting to pump they all start moving to like more riskier assets so yeah well I don't I don't expect Bitcoin to you know it's still gonna do well this cycle obviously like no doubt but I think altcoins Will outperform from here yeah I agree look we've been wrong on that for a while to be honest well at least we said eth would outperform um we never really said Bitcoin dominance necessarily uh but it does I mean I have it up the

the chart on the screen here for those that are listening uh you might want to just check out we got a bunch of charts here but Bitcoin dominance top technically back in November let me go to the Daily and we can see actually what day that was because it's been weeks now that we have potentially topped out looks like it was November 21st uh it looks like Bitcoin Don topped out at almost 61 and a half% at least uh when you're looking at trading view uh it's currently sitting at 56 it's had a bit of a bounce back here as it went to 100K it went all the way down to 54 and a half and now it's up a little bit but yeah I agree I think it's probably top tier I think as retail comes in and they look and they see the six-digit number

of 100K I don't think many of them are going to want to buy that they're like okay this thing looks like it's pretty expensive at this point uh and I know like if you know anything about investing it doesn't really matter but a lot of people coming in that are new have no idea and um and so I kind of think that they're going to go head the other way the other one I look at here so Bitcoin dominance looks I mean that's just such a huge drop and every time we've had such a massive drop like that previously it's like it's been the top right and so like feels to me like we're probably there you can see it in the last couple Cycles it looks like the beginning of that drop we'll see what happens but feels like that the other one you look at um we're hitting some

critical points for eth that I think are very interesting in terms of the chart anyway and we've started to see some bullish momentum in eth recently too and it kind of lines up well with this um with Bitcoin H 100K but look at this chart here this is eth BTC and you can just see the um let me just go to the weekly it'll be easier to see um but if you kind of draw a line from the bottom of of last cycle to now we actually tapped that right around the time that that Bitcoin dominance topped and we've sort of like jumped off of it and now eth is looking quite strong um and so I kind of think we might have finally hit the bottom uh although I think the last time I said this was like I think I thought this in

when the Bitcoin ETF went live last uh was that in February or March or something like that that so I was way off then but I know this chart looks pretty um looks pretty interesting here and then the other thing you can look at here on eth that's that's interesting is this huge wedge from the top of last cycle um both Bitcoin and Solon have already broken through that wedge and when they did they just jumped like crazy eth is exactly at it uh and it looks like it's ready or wanting to break through whether it does it right away I don't know um but it's looking really strong here and um and I think it's about to have its moment whenever it breaks through this like 3,900 or gets like let's say 4,000 um I think e has a bit of a moment what's your

thoughts short term eth having a moment or continues to like well um after I saw all all the people concentrated on AUM conference in Bangkok and all the talks that sparked from that conference so yeah all the talent all the people all phds like everyone's doing a lot of things today to kind of figure out how to solve the E's problems because it's very far from being perfect so this this new group of people these Community contributors trying to solve and help ethereum to to grow from here and Thrive that's what makes me like really bullish on ethereum because yeah that that's just something you cannot create a copy

paste or something that's something you need to build over the years and then when you are at the hard times like difficult times for e as we have been this whole year pretty much and you see the community still sticking to the values and trying to help eum to grow that's that's super bullish I'm super bullish on Ethier as kind of a catch-up trade to be honest uh as I shown on this chart like when you break through this it's a big move um like I can show you it with like salana Bitcoin did it I don't have it drawn on bitcoin but um whenever they break through these things it's usually a big jump I mean if you look at the flows of the eth ETFs just the last four days 332 million 24 million uh or yeah million 132 167 right

like these are pretty big numbers and before that we had 90 and 40 and 91 like we had a red day in in in you know week and a half and um and I think this only continues so I mean that to me is pretty bullish I also think that um one as I said I think coinbase is going to be one of the biggest winners here a lot of new people coming in there and coinbase is sending more people over to base and I just think that that continues and so I think a narrative finally picks up there narratives just happen based off price you just need price to go up then a narrative happens it's not the other way around and uh and so I think once eth has its move it'll catch a narrative that'll bring its momentum um I just see

no way that that doesn't happen here but I mean look you never know it's lagged for a while so we could be wrong but I'm pretty sure uh that we're going to see some good movements here and eth and I think it'll probably happen here in December uh again of course we'll have a pullback and eth will get wrecked just like everything else but um I still see it being very strong this this cycle do you see anything specific that caused that um eum price going up finally or is it just you know because it was lagging all the time so now it's just cing up basically I mean flow is picking up in ETF I think it's a lot of people just catching up but here's what I think is the bull case for ethereum and defi in general actually which we haven't really

talked about yet Trump winning the election I think there's a couple really big winners from this um one was obviously Bitcoin people speculating on the the Strategic reserve and and everything we talked about there so that already kind of had its win from that and we'll continue to I think coinbase has been a massive winner which I've talked about ton uh and coinbase has already seen some pretty big numbers since Trump has won as well the reason for that American company uh that's kind of has its hands in everything in in crypto and works with all the trafi companies building products for all the trafi companies same with works with all the crypto companies building products for all the crypto companies it's just like it's probably the best smartest uh team in all of crypto and it's finally like been Unleashed because of trump once regulation goes through so I think

like so much upside for coinbase which we can talk about that in a second uh but I think the other thing is defi the big thing that regulation is going to do when Trump comes in is allow institutions to start using crypto right um and right now I mean there's a bunch of retail coming in and a lot of that is to speculation that's that's all fine Danny even institutions are doing that as well but when I think about like the big use cases that are going to happen every time a new tech gets adopted in our world it's always corporations that jump into it first you think about the internet and computers who was using that first it was companies right like you you never used a computer unless you were at school and you happen to have that in your schools we did uh I don't

know about every country but or you were working you worked at like like um you know a finance company or a company that was trying to stay ahead right because they can save costs so they can increase Revenue cell phones when they came out everyone had a Blackberry that was all companies first this happens with every single technology and I think who's going to be the ones that really adopt crypto first it's going to be companies and because it saves them a [ __ ] ton of money whether it's paying employees or managing their balance sheets or accepting payments etc etc especially using stable coins like even us at at milk road we are like rushing into to use putting more of our assets on chain because it's such a smarter move we can get yield it saves us so much money to pay our employees around the world and

so I think it's going to be corporates that really really adopt this thing not people I know we're all waiting for these big consumer apps and I don't think that's going to be the case I think it's going to be the adoption is going to come from corporations the thing is they weren't allowed and I think Trump's going to finally allow that and I think we're really going to basically reboot the financial system and it's going to start with corporations and I think that's going to start next year As Long As Trump actually gets these regulations going through early on which I feel like he does in his like first 100 day Sprint that they do I don't think the Strategic uh Bitcoin Reserve happens but I do think he starts to allow corporations like to know can they hold stable coins can they use defi products Etc and what

what are all the protocols that are best suited for all these corporations when they decide to finally come and bring their treasuries on chain and hold stable coins and like I don't know do Financial Services it's ethereum defi right and so I think you're OB your makers your lios Etc they're going to be just the biggest players from this I think they're going to do extremely well and then of course that means ethereum is going to do well because all these players are on ethereum main chain but then also over on like let's say Bas for example like obviously I'm still bullish salana I think it still outperforms because it's just smaller but I don't think the institutions are going to come in and start to use salana defi I really don't and so I think um I think that's going to be the big Catalyst for

ethereum next year is actually defi getting adopted by institutions um and I think that all comes because of Regulation finally so I just think when we get this regulation that everyone's all pumped about and everything's all these tokens are pumping because of Regulation but like where's the adoption really going to happen when that when that occurs I don't see it's not like dein or AI like there's nothing holding back those things right now really it's just kind of the the defi type stuff right it's it's institutions with all the capital not being able to buy and once they can I I just I can't see how ethereum doesn't absolutely Crush from that along with coinbase because obviously coinbase is really integrated to ethereum and integrated with all these Corporation institutions that are about to come in on chain what are your thoughts there yeah I agree um I think

we are entering the the Golden Age of crypto we have we have infrastructure in place we have fast cheap blockchains where you know developers can build uh useful apps for people we also have companies interested in building on on the blockchains just as you as you were saying and now we also have like crypto-friendly regulations and non-hostile government which is obviously very positive for everyone right so I guess we have everything in place we need for defi to thrive finally and it's it's here so yeah I I think 2025 will be a huge year for for

defi the defi Renaissance I think that's thing to look out for coinbase I could be more bullish on I really think that when these earnings I think their earnings report comes out February of next year and I think they're going to show a double triple quadruple in Revenue quarter over quarter which like doesn't really ever happen on Wall Street um but with the combination of trump winning plus Bitcoin hitting 100K I think there's so much retail about to come in uh and I'm seeing a ton of Stories on this uh in our Discord too of like Uber drivers taxi drivers Etc are all coming in and um I think coin base last cycle topped at around 112 like verified users which is crazy it's like a third of the US uh and then like their actives went down to like six

million or something I think they're sitting around eight or 10 in the last earnings report there's no way that that doesn't go up to like 20 million maybe even more of active users and then because the prices are up so high their volumes are going to be so much higher which means their fees are going to be so much higher their revenue plus you got base over there just crushing like I don't know man I think coinbase is going to be just one of the best performing stocks and I think it's one of the the big stories of 2025 along with this defi Renaissance and the like adoption of Institutions starting to use crypto in Defi and then the one cherry on top I think that happens is I think coin the token or the like the stock is going to

be launched on base and you're going to be able to buy the stock on chain which is going to be really cool that's at least my hope um but we'll see um but I know everyone's probably sitting here thinking well what about salana right salana has been the big thing over the last year we've talked about a ton we obviously own a ton of salana we've we've been all over it and it's interesting I've had a bunch of people in our Pro Discord asking the question well should I still hold salana or should I be moving all my Capital over to like ethereum or to bitcoin uh and they're asking that because like what have we had now two weeks of Chop on on on on salana that doesn't happen very often does it oops not the one minute I don't want to go to that chart I'm

pulling up the salana chart here and um you know we reached an all-time high back in screen oh sorry not sharing screen right let me pop that open here uh not that one here so I got Salon up we hit alltime high back November 22nd and then we've kind of just been like down or chopping ever since and it's funny I've had so many messages of like okay salus time done should I sell it should I move on to something else I'm like what we're like barely above all time highs from last cycle and you guys already want to sell like this is this is crazy I think salana still continues to do very well meme coins aren't going anywhere um salana is still building like amazing stuff with Defi and other things that they're doing um

and so like I don't see that going anywhere I just think people people want to jump from one thing to the next right and and I think the thing that everyone here needs to understand is like you gotta just chill like this is the time to just sit in your hands and don't move if you've been holding and eth Etc if you try to jump around because other things are pumping you're just going to get completely wrecked you do not want to do this soul will have its moment just like let eth have a moment or let Bitcoin have its moment whatever soul will just kind of wind wind up get ready and all of a sudden Soul's going to just absolutely crush it um but like they don't all go up in big amounts at the exact same time flow kind of moves and if you try to chase that

you just you miss all the pumps so instead you just this is why you kind of diversify you hold it and you just wait right we're we're near the end of the cycle yet SAA still has plenty of room to go uh and so you just don't try to to um chase the the narratives you're just always GNA Get Wrecked um what do you think you think Soul still has a big moment here or is it kind of Tapped Out yeah I mean once there are no green candles every other day people are starting like oh is it is it still you know bullish or should I you know reallocate or something like just as you said just chill out you know be patient let let others people to learn about salana buy buy this too and like Salena will do

well and this is not high I'm pretty sure about that so like if we see just couple days going sideways or you know 10% decline it's it's it's nothing like bu more yeah buy more you got to remember ETFs are coming for salana and like I I think I saw grayscale is now uh has put in and applied to convert there they have like a salon of trust they're going to convert it into the ETF so there's I think four or five now applicants for the salana ETF the first one if they actually just get approval right away is in um is in February so or February or January I can't remember but um so we'll see what happens here obviously we have a new um SEC SEC chair

coming in who is crypto-friendly we have Trump who's going to be a president by then I don't see a reason why these things don't get approved now the always the issue was like they don't have a Futures and they're not on the CME and so like you need two or three years or whatever for that to happen that's what everyone's always said Sal doesn't have that yet but like I don't think the SEC is gonna give a [ __ ] about that I think they're just gonna approve a bunch of these things which means like by February that's two months from now less than 60 days we could have I think it's actually by January but we 60 days we could have a salana ETF and imagine you're getting millions of flows into salana now on a daily basis like the thing's only worth 100 billion like this

thing's got a lot of room to run if that's the case so um I see no reason why this thing slows down do you think it can somehow damage ethereum because of there won't be just one smart contract blockchain ETF existing at the time and like you mean take from its I mean like look it's going to definitely take from its market share I think that's what all these blockchains are doing but I think when you look into it and you really understand what's happening here with ethereum and SL the smart contract platforms like they're very different things what ethereum is trying to accomplish what Salon is trying to accomplish and I think that a lot of the institutions are going to understand that I think they're going to see the route that ethereum's taking they're not on crypto Twitter right like

the only issue we have had with Twitter or with eth right now is just people thinking that you know on crypto Twitter thinking that ethereum is not scaling or that it's doing this and wrong and doesn't burn enough and it's like this just all noise and I don't think these institutions give a [ __ ] about that and they're not on crypto Twitter um and so I think they're going to continue to bid this thing um I actually think salana might lack a little bit on the ETF side of things because I don't know that institutions have that there's that much demand for it at least that's what a lot of people I've heard um say that are in the institutional world so obviously there'll be some flows it's a good thing and they don't have the outflows like um like ethereum and Bitcoin had when they

first launched so it's going to be a net good thing I would assume for salana but either way that's going to drive a narrative and so salana is going to do really well there and yeah that takes some capital from eth but I think guys gotta remember we're still so freaking early like we're at $3.5 trillion do what are we 3.6 trillion market cap now okay so that's cool but I think we're going to 10 trillion in the next nine months like that's crazy and so um it's okay if these assets are kind of eating some share from the others because there's so much more room to grow this pie that like I really don't think it it matters all that much um yeah that's my opinion there all right last last kind of like look here let's just talk about shortterm what's going to happen we're

sitting at like an 84 on the altcoin uh season index obviously things are pumping and getting a little bit crazy uh you brought up Martin that um that I think uh the funding rates are getting quite High walk me through what you're kind of looking at here in the short term yeah funding grates um you can read them as price for having leverage in the markets pretty much so if Bitcoin is at all-time highs people are bullish so they open leverage trades up so they are willing to pay 70% per year for having open these uh open leverage positions that's that's pretty big number and we don't see that often 70% API so this

tells me that the market is really bullish right now and it won't last forever you know so yeah we are going through some kind of small peaks in the cycle and now like all the Traders are really really bullish on the markets so as I said I I don't know where the price are going maybe couple more thousand for Bitcoin up but then some corrections needs to happen um yeah and also by the way this will result in huge huge yields for atina so if some people hold atina stable coin um I'm very curious to see uh the next week yield for um users or of Athena stable coin I mean like next

year once we get regulation around stable coins like how are corporations not going to want to come in and hold Athena stable coin or makers I think you said makers just moved up to 12.5% API you have Athena currently sitting at 27% remember interest rates in the US like you can get you could get 5% now that's going down and will probably continue to go down like I'm not saying all that Capital that's there's trillions of dollars in treasuries by the way in the US now that capital is not all going to come in to stable coins but you bet like corporations that can do this and are allowed to do this why would they not do this do you know what I mean uh and so to me this just continues to be this defi Renaissance that we talked about like how is this not going to be what

they do now I know there's still some fear around teruna from last cycle but I think um I mean maker is less of a scary thing and Athena institutions kind of get the carry trade that Athena's doing so I think that once you do your due diligence you realize this is not the next ter Luna um to me there's just no way that a lot of capital doesn't come in and I mean stable coin's already at all-time highs getting close to 200 billion um yeah everything's looking really really good here for 2025 uh as Martin and I both said probably a pullback coming in the next little bit by the way I talked about this two episodes ago and there was a bunch of comments of like oh I'm bearish and like I want the 2020 days back and it's like guys um you want to

hear bear stuff when things are getting really bullish because if things are getting really bullish and I come on here and I just Martin and I just talk about how you should fumo into everything and be super bullish that's when you're going to make mistakes you're going to [ __ ] this up and so hearing the bear side of like Hey we're probably going to pullbacks you know the risk rewards maybe not as good anymore this kind of helps you stay level-headed not make mistakes because like yeah we're an exciting time we think a lot of good is happening here um but you gotta it's all about your mindset at this point if you start trading and trying to over complicate things it's when you make mistakes if you just sit in your hands you do nothing you let the pullback happen you know it's coming uh

and you let it recover like everything's going to be okay right uh and so at this point it's the rest of this game for the next nine months is just it's all mental it's all your mental and if you can control your brain up here you will do well this cycle if you can't control his brain you will get wrecked I don't know if you saw Martin but a bunch of people were selling their Bitcoin and their eth and putting it into Hawk token yesterday uh which proceeded to go down like 90% And I just was like man you have Bitcoin passing 100K and there's a bunch of people foaming money into the hawkk two of memec coin and just getting completely rugged and wrecked and I just what a waste of capital I just don't understand it anyway just thought I'd bring that one

up Martin any final words any final suggestions or recommendations to the listeners um I would say be patient have conviction in your in your Holdings if you don't have conviction and then you should probably reevaluate your thesis and your portfolio uh because you know investing should be boring and it's not it's not about to be fun or feel emotions it it should be very boring and this is exactly the time where when you will be tempted many times to you know jump into this new narrative thing or that token there but if if you if you do it then you'll you'll mess it up and so I'll say

make sure you have your portfolio well Diversified you have conviction in your Holdings and be patient and wait until you know mcro starts to get like overheated and we are going getting closer to uh you know winter fall winter as we call it in the macro seasons and then it's your time to sell take some profits from the table and be happy I I like the line of investing should be boring go have fun and if you want to go have fun and Gamble and play aroundand coins do it with a small small small percent and then uh let your Investments be boring and that's where you're really going to make money and do that long term so great advice Martin uh great to have you back on the show um I'm glad we

got to join here and uh and have a pro takeover congrats to everyone who is in Bitcoin and got to experience the 100K six digits it's a big deal it's exciting stuff and um look if you want to help us uh you can help us grow our show please leave us five stars on the podcast Apple podcast or Spotify make sure you subscribe on YouTube or the podcast channel uh and give us a like or comment whatever you can do do that because engagement helps us grow we want to grow and be the number one show during this bull market so please help us do that otherwise thanks so much for joining and have a wake up awesome day thank you good luck guys as always if you liked today's episode please hit subscribe and make sure you follow us so you don't

miss out on the next one there's also a link in the description to our free 5 minute daily newsletter where we simplify crypto for you while making you laugh and if you're willing to step up your crypto investing game we're going to also leave a link for milk Road Pro you get access to our portfolio where you can see exactly what we are buying this is your number one resource to help you invest successfully in crypto one final note this show is for educational purposes only and nothing we say is financial advice investing in crypto or any asset is risky and you should never invest more than you can afford to lose thanks so much for listening in my friends have a wicked awesome day