BITCOIN DUMP: HARSH TRUTH IS SETTING IN FOR INVESTORS (ETH ETF DONE!)

Summary

The video discusses the impact of Ethereum ETF approval on the market, predicting potential price movements before public release. It analyzes Ethereum's support and resistance levels, Google Trends sentiment, and the ETH/BTC chart. The script also covers Bitcoin's correction, altcoins' performance, and meme coins' strength. It touches on traditional market realities with rising interest rates and their influence on stocks and the US dollar. The video concludes with a look at seasonality in election years and its implications for Bitcoin and cryptocurrencies, offering a cautiously optimistic outlook for the market.

Takeaways

• 📈 The Ethereum ETF has been approved, leading to a $900 pump and a 30% increase in price, nearing a new high.
• 🕒 The ETFs are not yet released to the public, and it could take weeks to months for them to become available.
• 🤔 There is speculation about whether the price will correct or pump during the period before the ETFs are publicly released.
• 📊 Bitcoin has experienced a dump recently, with some support levels being tested.
• 💡 Strong altcoins are showing resilience during the market correction, while major meme coins continue to increase in value.
• 🔗 The SEC has approved eight Ethereum ETFs from various financial institutions, but the timeline for public availability remains uncertain.
• 📈 Ethereum's price has surged following the ETF approval, but the long-term impact on the market is still unknown.
• 📉 Bitcoin's price correction is being monitored closely, with the 50% level at $66,800 being a key support level.
• 📊 The ETH/BTC chart indicates a weaker move compared to the Bitcoin ETF hype, suggesting the market might need more confirmation before a strong bullish trend.
• 📊 Altcoins like Solana and Pendle are holding above the 50% level against Bitcoin, which could indicate strength and potential for an altcoin season.
• 📚 The traditional markets are facing harsh realities with rising interest rates, which could impact investor sentiment and asset prices.

Q & A

What is the significance of the Ethereum ETF approval in the cryptocurrency market?

The approval of the Ethereum ETF by the SEC is a significant milestone as it indicates institutional acceptance and can potentially bring more mainstream investors into the cryptocurrency space. However, it's important to note that the ETFs are not yet available to the public, which could lead to market fluctuations as investors react to the news.

What is the current status of the Ethereum ETFs mentioned in the video?

As of the video's recording, eight Ethereum ETFs have been approved by the SEC, including those from Black Rock, Fidelity, Grayscale, Bitwise, Van Eck, Invesco, Galaxy, and Franklin Templeton. However, they have not been released to the public yet and could take weeks or even months to become available.

How has the Ethereum ETF approval impacted the price of Ethereum?

Following the approval of the Ethereum ETF, there has been a noticeable pump in the price of Ethereum, with a $900 increase and nearly a 30% rise in value, coming close to a new all-time high.

What are the potential support and resistance levels for Ethereum that investors should be aware of?

The video suggests that key support levels for Ethereum are around $3,450 (the 50% level) and $3,200 (previous support and resistance levels). The resistance level to watch for a bullish trend is around $4,100.

What does the speaker suggest about the sentiment around Ethereum based on Google Trends data?

The speaker notes that the Google Trends data for Ethereum and Ethereum ETF searches have seen a significant increase, indicating growing interest. However, the search volume is still well below the highs seen during the 2021 bull market, suggesting that there may still be room for growth.

How does the speaker view the current situation in the cryptocurrency market in relation to the traditional markets?

The speaker suggests that the cryptocurrency market, including Bitcoin and Ethereum, is currently experiencing a correction or 'cool off' period, which is not uncommon following a period of rapid growth. This is happening alongside shifts in the traditional markets, with interest rates potentially remaining on hold and not being cut as previously expected.

What is the potential impact of interest rates on the cryptocurrency market according to the video?

The video suggests that the market is adjusting to the possibility of interest rates not being cut and potentially increasing. This could put pressure on asset prices, including cryptocurrencies, as investors reassess their strategies in light of these changes.

What indicators does the speaker use to gauge the strength of altcoins like Solana and Pendle?

The speaker uses the 50% level as a key indicator, noting that altcoins that maintain values above this level, such as Solana and Pendle, are showing strength and could potentially lead in the next stage of the market cycle.

How does the speaker analyze the potential for an 'altcoin season'?

The speaker suggests that the formation of higher lows in altcoins against Bitcoin could indicate strength and potentially lead to an 'altcoin season'. However, they caution that it's still early and nothing has broken out yet, so it's important to monitor these trends.

What advice does the speaker give regarding trading strategies in the current market conditions?

The speaker advises keeping trading strategies simple and clear, so that decisions can be made quickly, especially in a rapidly changing market. They also promote the use of their TIA premium service for trading strategies and insights.

Outlines

00:00

🚀 Ethereum ETF Approval and Market Analysis

The video discusses the recent approval of Ethereum ETFs and the subsequent price surge, with a 30% pump bringing Ethereum within $150 of a new high. However, the ETFs are not yet available to the public, which could take weeks or even months. The video explores potential price movements, including possible corrections, and examines support and resistance levels for Ethereum. The speaker also mentions a premium sale for trading strategies and provides an analysis of Google Trends data for Ethereum ETF searches. The focus is on understanding market sentiment and preparing for future price movements.

05:03

📉 Bitcoin's Market Correction and Support Levels

This paragraph delves into Bitcoin's recent price correction and the implications for the market. The speaker discusses support levels, particularly the 50% level at $66,800, which Bitcoin bounced off, indicating a potential area of interest for traders. The analysis includes a look at the weekly chart and the importance of closing prices above certain resistance levels. The video also touches on the broader market trends, suggesting that the current dip could be a period of consolidation before a potential bullish move.

10:04

📊 Market Sentiment and Social Risk Metrics

The speaker introduces social risk metrics and Google Trends data to gauge market sentiment. They highlight that the current low participation levels might indicate a market bottom, with a divergence between price and retail interest suggesting potential for higher prices in the future. The video also discusses the importance of likes versus dislikes on content as a metric for understanding the market cycle's position, suggesting that a high like percentage could indicate a low in the cycle.

15:05

💼 Altcoins and Meme Coins Analysis Amid Market Shifts

The video shifts focus to altcoins and meme coins, discussing their performance relative to Bitcoin and the USD. It emphasizes the importance of maintaining strength above certain percentage levels as a sign of potential altcoin season. The speaker also warns against the pitfalls of continuously buying dips, advocating for trading on strength instead. The paragraph concludes with a brief mention of the harsh realities for traditional markets, with interest rates potentially increasing and not being cut.

20:07

📈 Seasonality and Outlook for Traditional and Crypto Markets

The final paragraph discusses the seasonality of market movements, particularly focusing on election years and their impact on stock market trends. The speaker references historical data suggesting a macro uptrend towards the end of 2024 and into 2025, which could be positive for Bitcoin and cryptocurrencies. They also mention a sale for TIA premium, encouraging viewers to take advantage of the offer, and conclude with a summary of the video's key points.

Keywords

💡Ethereum ETF

An Ethereum ETF, or Exchange Traded Fund, is a type of investment fund that is traded on stock exchanges, much like individual stocks. In the context of the video, the approval of Ethereum ETFs is a significant event as it allows for broader public investment in Ethereum without the need to directly buy and store the cryptocurrency. The script mentions that the approval has led to a price surge in Ethereum, indicating its importance to the market sentiment and price action discussed in the video.

💡Pump

In the context of financial markets, a 'pump' refers to a sharp increase in the price of an asset. The video script describes a '$900 pump' and a '30% pump,' which are used to illustrate significant price increases in Ethereum following the approval of the Ethereum ETF. These terms are crucial in understanding the excitement and potential speculative behavior that can occur in response to major market news.

💡Correction

A 'correction' in financial terms refers to a decline in the price of an asset or a market after a period of increase. The script discusses the possibility of a correction in Ethereum's price after the ETF news, suggesting that the market may readjust to a more stable level after the initial excitement has subsided. This is an important concept for viewers to understand as it relates to market volatility and potential investment timing.

💡Support and Resistance Levels

Support and resistance levels are technical analysis concepts used by traders to identify price points at which it is likely that the price of an asset will either stop falling (support) or stop rising (resistance). In the video, the speaker discusses these levels for Ethereum, suggesting that if the price drops below certain support levels, it could indicate a weaker market. Understanding these levels can help viewers gauge the strength of the market and make informed trading decisions.

💡Altcoins

Altcoins are alternative cryptocurrencies to Bitcoin. They represent a diverse range of digital currencies that exist alongside Bitcoin. The script mentions 'strong alts' and 'meme coins,' which are subsets of altcoins. 'Strong alts' refers to altcoins that are showing resilience or strength in the market, while 'meme coins' are cryptocurrencies that are created as a joke or for fun but have gained significant attention and value. These terms are important for understanding the diversity within the cryptocurrency market.

💡Interest Rates

Interest rates are the cost of borrowing money and are set by central banks. They have a significant impact on financial markets, including the cryptocurrency market. The script discusses the potential for interest rates to rise, which could affect investor behavior and market sentiment. Understanding interest rates is crucial for viewers as they can influence the broader economic context in which cryptocurrencies operate.

💡Google Trends

Google Trends is a tool that analyzes the popularity of search queries in Google's search engine over time. In the video, the speaker uses Google Trends data for 'Ethereum' and 'ETH ETF' to illustrate changes in public interest, which can be an indicator of market sentiment. The script suggests that the current interest levels are still below the peaks of previous bull markets, which could imply that there is room for further growth in public interest and market prices.

💡Seasonality

Seasonality refers to the tendency of certain events or behaviors to recur at specific times of the year. In the context of the video, the speaker discusses the seasonality of stock markets, particularly in election years, and how this can affect market trends. Understanding seasonality is important for viewers as it can provide insights into potential market patterns and investment opportunities.

💡Traditional Markets

Traditional markets refer to the conventional financial markets, such as stocks, bonds, and commodities, as opposed to the cryptocurrency markets. The script mentions 'traditional markets' in the context of rising interest rates and their impact on investor behavior. This term is important for viewers to understand as it highlights the interconnectedness between different financial markets and the broader economic environment.

💡Social Risk Metric

The Social Risk Metric, as mentioned in the script, is a tool used to gauge the level of public interest and sentiment in the market. It is based on the number of people participating and their behavior, such as the ratio of likes to dislikes on social media. The script uses this metric to suggest that the market may be at a low point, as indicated by low participation levels and a high like-to-dislike ratio. Understanding this metric can help viewers assess market sentiment and potentially identify turning points in market trends.

Highlights

Ethereum ETF has been approved, causing a $900 pump and a 30% increase in price.

ETFs are not yet released to the public and could take weeks to months for availability.

Bitcoin has experienced a dump recently, with some support levels being questioned.

Strong altcoins are showing signs of holding out during the market correction.

Major meme coins continue to pump despite market conditions.

Interest rates are anticipated to rise, affecting investors and traditional markets.

SEC has approved eight Ethereum ETFs from various financial institutions.

Google Trends shows increased search interest in Ethereum and ETFs but not at peak levels.

Ethereum's price has moved nearly 30% higher, nearing a previous top.

Support and resistance levels for Ethereum are discussed for potential future price movements.

ETH/BTC chart shows Ethereum's move is weaker compared to Bitcoin's ETF hype.

Bitcoin's correction is analyzed with attention to the 50% level as a key support.

Social risk metrics indicate low participation levels, suggesting a potential market low.

Google Trends data for Bitcoin and crypto searches are climbing, hinting at growing interest.

Altcoins like Solana and Pendle are holding above the 50% level, showing strength.

Meme coins are analyzed for their performance and potential as the market corrects.

Traditional markets are adjusting to the possibility of sustained interest rates rather than cuts.

Seasonality of the stock market in election years is discussed, suggesting a macro uptrend.

TIA premium sale is announced with a link in the video description, ending the next day.

Transcripts

all right guys we are back with another

massive update as the ethereum ETF has

been approved we've seen a $900 pump 30%

pump and within 150 bucks of a new Fresh

high but the ETFs are still not released

to the public and this could take many

weeks if not many months so what happens

to the price over this period of time do

we see a correction do we see a pump

let's have a look at that in today's

video along with Bitcoin and the dump

that we've seen over the last few days

some of those uh support levels are

coming into question we've also got the

strong alts which are showing some signs

of holding out here while the market

corrects and of course those major meme

coins which have continued to pump now

on top of that we've got heaps to get

through with the traditional markets as

harsh realities are setting in to

investors as interest rates look to rise

Yes you heard that here first in January

where we looked interest rates and the

possibility of them not getting cut

pretty straightforward concept I'll get

to that later in today's video so let's

kick it off with eth after I let you

know about our Tia premium sale Link in

the top of the video description this

ends tomorrow if you want to jump on

board with that learn how to implement

all of the trading strategies we use

here for your own trading and investing

Link in the top of the video description

we'll talk more about that later but now

covering the headline of SEC approving

eight ethereum ETFs including Black Rock

Fidelity grayscale bitwise vanck Arc

Invesco Galaxy Franklin Templeton

they're all there but it could take many

months taking three plus months

historically to get this out to the

public so uh on the best case scenario

couple of weeks but there's plenty of

examples of this process taking three

plus months so I want to understand what

that would look like on the chart should

we see a correction on eth or higher

prices and essentially want to look at

where those uh support and resistance

levels lie for ethereum now this is the

announcement from the SEC so it's all

above board here it's all approved it's

not just speculative rumors on news

headlines or on X or anything like that

so we've got this now but it's not

available for the public just yet so

what does the sentiment look like on

Google Trends well we got ethereum eth

ETF this is just the terms that people

are searching for you've obviously seen

a big pump up in both of these terms now

ethereum going from 32 up to 94 for the

reading of the last 12 months but if we

take a look over 5 years uh we're still

nowhere near any of those high prices

that ethereum was at back when it uh

peaked in May of 2021 in the last bull

market you also had the first Peak

around January and then the bare Market

collapses of June 22 if we can get those

numbers there and then also November

when FTX collapse so this is the FTX

collapse here November even lower so

we're above the FTX collapse but still

well below any of the bare Market Search

terms uh and also the bull market time

in

2021 so to me I still see this as a

pretty reasonable opportunity for

accumulation the prices aren't the best

you know sitting at 3700 or 3,800 for

eth but in terms of where we are in the

overall cycle should this continue then

there's still a likely chance that we've

got more interest to come into the

market how much of a return that is

obviously anyone's guess I can't sit

here and tell you you're going to get a

2X or a 5x I know everyone wants that I

definitely want a guarantee but no one

can give us a guarantee there's no

guarantees in this game so onto ethereum

and the move over the last few days has

been 900 bucks to the peak nearly 30%

short of 150 bucks from that previous

top in uh March now what I I think is

the most important areas for eth over

the coming weeks as we saw with how this

process could unfold within a couple of

weeks but there's plenty of examples of

this process taking three plus months if

we were to see price drop from here and

just basically buy the rumor sell the

news type of an event everyone getting

hyped up that the E ETF is getting

released I got to get those uh letters

correct then

if this is the case then we start to see

a selloff on price firstly this is a

good level 3450 that's the 50% level of

the range down to the low uh in on the

1st of May however going any lower than

that is still not the the end of the

world probably coming down to roughly

3200 points the reason being is that was

previous support resistance resistance

resistance so nice fake out there

resistance another resistance before the

pump so this seems to be the area that

investors were accumulating eth putting

in higher lows sitting on 50%

support and that seems to be a

stronghold for the price so if you were

to see this fall underneath into this

time frame here going forward 3 weeks

and then into uh three months from

today's date as we were looking at this

on the eth ETF announcement so 3 plus

months if this is how long it takes

until it's release to the market and

then everyone can start to gamble on

their eth ETFs uh 3 months would take us

out to August of

2024 so let's extend this box out here

essentially this would be the no-o Zone

it's not the end of the world because

you still got the 50% there but it's

probably going to be a little weaker on

the rally what we do want to see or at

least people who are already holding

ethereum or if you want to get into eth

is for 3200 to become the next level of

support at a higher l low so that's the

key levels here for eth over the coming

three weeks to to 3 months should it be

able to Pump from here and close above

that current top there at 4,100 again

that's going to be even more bullish but

you don't want to see it drop back below

these levels because that could take

that that would then cause more time for

consolidation before it could pump again

the most bullish scenario is a close

above 41 anywhere in this zone between

32 and 41 not the end of the world

underneath that level between 28 and 32

not the greatest it just means it's

weaker and going to take more time to

Pump from that level and underneath the

level of 2800 uh game over for ethereum

I'll call it a game over at this point

so the other thing we can see with eth

is the eth verse BTC chart now this move

up from the last few days 20th there to

the top is slightly less than the pump

we saw in January when the hype was

there for the Bitcoin ETF so at the

moment for the same weak move weekly

move it's weaker than it was before and

this is on ethereum's ETF so this

doesn't give me a lot of Hope at the

moment just looking at this purely on

the chart because it's a it's a smaller

move than what happened back when

bitcoin's ETF hype was all the rage

right so from here the Bulls really need

to see this thing push higher and get

back above those tops so that's the

resistance level there at 06 so 6

million Satoshi if this is to fade out

and we talked about this the other day

when we saw this massively abnormal bar

we had another push higher a reversal

here the announcement day and we got to

close back into that zone uh it just

sort of starts to paint the picture that

the hype of the move might be over for

now it doesn't mean it's the worst case

it doesn't mean it's the end of the

world because you still have support

down here and of course everyone should

know by now higher lows means it's

stronger so if we do get that fade out

you definitely want to see it stay above

0.052 at least 0.052 worst case 045 so

it's at this low here so that move has

basically been for the week weaker than

the previous one from the low itself

from the swing low it's almost dead on

the same thing 27.6 27.7 and

0.013 012 recap on that a close above

006 going to be very strong for eth and

that would almost confirm that that low

is in for now this is just another

bounce like the last bounce because it's

at the same measure the same thing here

for eth that takes us over to bitcoin

and the dump here as we get into those

harsh realities for the market what's

setting in there you can definitely see

it come across in the stock markets as

they've also corrected overnight for BTC

it's had a correction again at that 72k

level we had the fake out up there I've

got our level here at 71 there was only

one day close above it it's pulled back

so we've had a red day but essentially

two uh down days so far those days are

up for us because they're higher highs

higher lows even though it was red

moving on though uh the move to the 50%

level guys this is why you must know

about the 50% level it's so important

especially for uh short-term long-term

trading you can easily start to identify

where these support and resistance

levels are going to come in and that

number was at 66 Grand you can see

yesterday it dropped to 66,800 and

Bounce from that level so the close

isn't the worst you got to close Above

This previous area of resistance so

that's a good thing at least on The

Daily but when you go to the weekly

chart we still have a few days to go so

it's not uh it's not the end of the

world here but if this was to continue

and close where it is now or slightly

lower then you've got another reversal

bar at a lower top to the previous

reversal and another lower top to the

current all-time high which was the top

of that move so that could then spell

more time under the alltime high and not

this sort of major pump up to the upside

uh we need to see what happens over the

course of Friday obviously there's still

one more day left in the trading week

and then three more days left for the

24-hour markets so that's going to be

important leading into uh Monday or

obviously Sunday night's close so keep

an eye on that that's going to be the

big levels that we're watching for the

the weekly chart but if you have been

following then it shouldn't come as any

surprise that this time in the market

was essentially a time to cool off you

know we talked about this in February on

this massive bar here we talked about it

in March that things were just getting

way overheated and they needed to have a

pullback going through all of this data

as I did in previous video so just as a

recap here it seemed like we did need

some time off and it was likely going to

be obviously at least one month probably

two months you can see here monthly

swing bottoms as well that's typically

what we have seen into

pullbacks uh after monthly swing tops

how long have they lasted and when did

those uh when did those swing bottoms

occur when did the pullbacks end and

we've seen four times in June zero times

in May but maybe we see this June just

being a bit of an inside month higher

high higher lows and lower highs and

then we start to power on for the next

stage of the year which typically I

think lines up with a lot of things that

are happening in the traditional markets

as well as I'll get to in a moment so

essentially this was still that cool off

time and on the shorter term time frame

if this remains here or you know under

sort of 69

68,000 then well it's sort of leaning

towards that that we just need a bit

more time to consolidate to then move to

higher prices just on that uh on that

Weekly chart as well as I've got here

we're at their 10th week under the old

all-time high this was 15 weeks

underneath that significant top so it

took some time to recover but at the end

of the day it still pushed higher so I'm

still in the macro bullish camp if it

takes a little more time it's going to

be the same as what's already occurred

and hopefully that gives it some more

power to push on to much much higher

prices onto the social risk and Ben C's

got his lovely social risk metric here

so I like to look at this stuff to give

us an idea of the the numbers of people

in the game and essentially this is if I

move this here it's pretty much showing

that we're at the lowest levels that

we've seen in a very very very long time

uh what I think is most people are

waiting for higher prices again to come

back in So when this occurs it's a

pretty good sign that you're at some

sort of low you can see it here in

January lows there more lows of course

Co happened higher Low Bottom form which

is another very bullish sign so that's a

good thing there and then more lows

before the market basically took off

from that point so the beauty about that

is it's probably sitting somewhere

around the low prices are getting higher

so you're starting to see a Divergence

between the price and the retail which

means I think over the coming months

we'll likely see higher prices it also

shows up here on the Google Trends

Bitcoin has started to climb higher

crypto started to climb higher only just

and you can see it happened back in 2020

where you had this sort of bump up in

July August fade out and then you

started to go on this Mega Run so we get

something like that that could take

another couple of months maybe we see a

move higher for the Google search term

fade out again over the course of Summer

and then start to push higher towards

the end of the year with the elections

coming up as well now my uh my brother

Michael did something on his channel

looking at likes versus dislikes just as

an understanding of where we are in the

current cycle which flows on with this

uh particular reading here for the

social metric just to see whether we're

around some sort of low or have seen a

low and the idea I'm not sure if you can

see it here but essentially looking at

the likes versus dislike ratios which is

a good reminder to smash up the like

button subscribe to the channel if

you're this far into the video we're

seeing 99% likes which is typical of

around a low area doesn't have to be the

low but around the low because you're

not getting any fresh blood and I'm not

ticking off too many people unless there

is the word uh death of crypto in the

title where a few people get a little

bit triggered so be it but essentially

it's all 99% which means you guys that

have followed along the entire time are

still here and you understand the

content itself and what we're talking

about whereas when it starts when the

content starts to reach a new audience

they don't really understand what we've

been doing for the last several months

or even years and they get a little bit

triggered at uh different ideas coming

to them because typically they're used

to hearing the same thing from the same

major channels and and when you tell

them oh look maybe we're starting to see

a top and everyone else is telling them

it's still a bull market they get

triggered and they hit the dislike

button so I think it's a pretty good

metric to understand where where we are

in the cycle you start to see dislikes

go under 98% so basically 2 plus% of

dislikes then we're getting somewhere

around the top onto the altcoins and

after this pump from eth and BTC where

does it leave us with alts and the

strong alts salana is still tracking

around the 50% level ideally this is

still a a strong position for salana to

be in at this stage of the cycle higher

lows have formed Sol vers BTC remember

I'll have a look at the USD chart as

well for those folks but anyway this was

the higher low area that I've been

following now since April I posted about

it so make sure you follow on X as well

so you get those updates and essentially

it was just looking at altcoins the

strong altcoins making higher lows

against Bitcoin at that point in April

note that Bitcoin went lower on the 1st

of May so Bitcoin put in a lower low

while altcoins made a higher low against

BTC so there's some strength there which

might suggest that we're going to go

into an altcoin that there potentially

will be an altcoin season if you're

seeing higher lows and alts at this

stage of the cycle of Bitcoin getting

that slightly lower low I'm not going to

get too excited just yet because we

haven't seen anything break out but

that's a good early sign should those

lows remain in so that's why I'm still

um quite bullish on this next stage of

the cycle or one reason so above these

50% levels still a good sign that's this

line here you can see it for yourself on

the chart still in a strong position if

it starts to break down and fall below

these levels that would just mean that

well it could potentially be forming

into a weaker cryptocurrency it's as

simple as that that's how I like to make

my trading I hope you've got something

as simple as that in your own portfolio

so you can make quick decisions when

you're implementing your own trading if

takes a long time for you and you

got to go and check five different

channels 10 different X accounts you're

still unsure when to buy and when to

sell that is going to be very very

painful when the market is in super

Drive in hyperdrive like it was in

December November of last year and then

into that peak in March as well it's so

hard to make decisions if you need to go

and check 20 million different things

keep it really really simple and life

becomes far more simple now that's a

Shameless plug to Tia premium the sale

is on now ends tomorrow Link in the top

of the video description to get the

coupon code the discount code there so

make sure you subscribe to that and

those emails will go out to you so you

get that discount code so that is salana

against Bitcoin salana against USD it's

holding up pretty damn well we can see

the low here and the 50% back down at

$154 so still in a relatively strong

position here Pendle still in a

relatively strong position above 50%

there at

$630 and if you look at it against its

BTC value also above the 50% and above

the 50% of that particular move I'm not

suggesting that it goes straight up it

could take some time here pause come

back down and above the main thing is

it's still above this major 50% which

potentially leads it in to be a stronger

altcoin come the next stage if this

breaks down weaker altcoin that simple

super super simple render it's starting

to break down here not back into this

Zone yet and the zone between the low

the higher low and these tops about

10,000 Satoshi up to about 14,000

Satoshi so it's not looking as strong as

the others but still pretty pretty

decent on the chart at the moment and

against the US dollar pairing just

holding out here at 10 bucks so still

holding up relatively well as for the

meme coins well that's pretty

self-explanatory you've seen higher lows

and although it is up it's still a

strong altcoin to have a look at this is

exactly what we were talking about with

our members earlier this month when it

started to put in higher lows and it

tested those tops and then took off from

there so great trading opportunities

when you find strength in a market I

know a lot of people still want to buy

up these dips but what happens is you

just keep buying the dip and it keeps

going lower and lower and then sometimes

it pushes up and you think you're a

winner but your average price is still

above where the market had pushed to

that's the failure of a lot of people

that get into crypto so try to avoid

that personally I like the strength and

it continues to pay dividends so the

harsh realities for the traditional

markets moving quickly on from the

altcoins is that interest rates may

increase and not get cut we're seeing it

again it's starting to shift into this

increase into the next meeting now of

course it's 99% chance that it remains

at 5 a half% but we at the beginning of

the year we did not even see any

possibilities of interest rates

increasing and now we're starting to see

it more and more regularly look at this

side this is the increase to 5 and 34

this is where we currently are at 5 and

a half% next meeting seems almost

guaranteed it's going to remain on pause

the meeting after that almost guaranteed

that it remains on pause then you go to

the meeting after that in September it's

sort of a flip a coin between a cut and

a pause but we never had this um so

regularly like we did like we're having

now uh we didn't see it at the beginning

of the year so to me I think these are

potentially going to again continue to

shift to the right and interest rates

remain on Paws and eventually the Market

will figure out that interest rates are

going to remain on pause and that things

are going to be okay for the next period

of time into this final Peak before

stuff gets serious so the market I think

is adjusting we've seen a correction now

on the S&P 500 so pretty significant

pullback here to uh 5300 points still

not the end of the world you can put

your 50% in play you could come back and

test 5166 and we're still within the

strong half of the 50% tool here so

again a correction pretty significant

volume let's wait and see what happens

with this Market the same deal for the

NASDAQ again another correction here low

to high we're looking at

18,60 for a potential correction point

there for a support in the strong half

on top of that we saw the US dollar push

up last night so just push back above

105 and get uh almost a close above 105

it's currently sitting above 105 at the

moment so it might be putting a little

bit more pressure onto those asset

prices now with that in mind we have

been following the seasonality of the

year and we can see through May April

through to June that there are periods

where you do get Corrections we have

seen relatively strong push out of April

into this new top in May but it doesn't

seem like the market is doing anything

too different to what it's done in

previous election years this one here

takes us up to date a little more so

thanks to Almanac Trader uh we can see

that we've had a pull back into this low

and then the move up into May got us to

a new all-time high and then this slight

correction over the last day brings it

back down the green line you can see has

been basically a correction into the end

of May and then starts to push higher

basically what they're saying from here

this is your quarter 1 quarter 2 quarter

three and then quarter uh should just

write four there there's four

essentially those last seven months push

higher on the market now there are

Corrections Corrections Corrections

Corrections and more and more

Corrections and through those times the

majority will think oh it's over this

time it's over this time because when

you look at how long they last that

whole period of July looks like a

correction there you also get a

correction in all election years here in

the black line so for half the month you

also get a correction from September

into October just before the election

that's almost 2 months of down and so

all we've seen so far is roughly a month

of down and a month of up so imagine if

we started to fall into some sort of two

months of negative prices on the stock

markets that would feel like it's the

end like this is over the blowoff top

came in and basically the markets are

heading down from now on but you can

still see that it put in higher lows and

then continued to take off to the end of

the year so I'm still on watch for this

nothing has really change when it comes

to the seasonality of the stock markets

in an election year which still gives me

don't want to say hope but it still

shows from the data itself they were in

a macro uptrend which would still be

positive for Bitcoin and

cryptocurrencies coming towards the uh

end of 2024 and potentially into 2025 as

well Link in the top of the video

description and the pinned comment for

Tia premium the Sal is on until tomorrow

don't miss out on that let's go 35,000

likes thanks again for your support guys

I'll see you back at the next video so

until then take care and peace out