A highlight from 1419: Bitcoin ETF Will Push BTC Price to $400,000 - Scaramucci
Say goodbye to your credit card rewards. Big -box retailers led by Walmart and Target are pushing for a bill in Congress to take away your hard -earned cash back and travel points to line their pockets. Senate Bill 1838 would enact harmful credit card routing mandates that would end credit card rewards as we know it. If you love your credit card rewards, visit HandsOffMyRewards .com and tell them to oppose credit card routing legislation paid for by the Electronic Payments Coalition. And here's your prescription. I know just the pharmacy to get this filled. Who are you? A pharmacy benefit manager. A middleman your insurer uses to decide which medicines you can get, what you pay, and sometimes even which pharmacy you should go to. Why can't I go to a pharmacy in my neighborhood? Because I make more money when you go to a pharmacy I own. No one should stand between you and your medicine. Visit PHRMA .org slash middleman to learn more. Paid for by pharma. Welcome everyone to the number one daily Bitcoin pod. Let's get it. In today's show we'll be breaking down the latest technical analysis as Bitcoin recaptures $28 ,000. In this just in, Japanese 10 -year bond yields are surging, hitting the highest levels not seen in a decade. Max Kaiser's response, the yen -carry trade borrowing yen at virtually zero and investing in higher yielding currencies is broken. This has been the mother of all Ponzi schemes funding global financialization for 30 years and now it's moving in reverse. He also says the Bitcoin is a state of heaven that exists entirely beyond anyone's reach except the owner preach. Also in today's show VanEck, Ethereum strategy ETF set for the CBOE listing. We'll also be discussing FTX founder Sam Bankman -Fried. Mold giving Donald Trump five billion dollars to not run for president. That's right. We'll also be discussing Grayscale submits and SEC filing to convert the Ethereum trust to a spot ETF. I'm also going to be sharing with you a Bitcoin price prediction model which suggests $170 ,000 per BTC in 2025 as well as skybridge capital's Anthony Scaramucci says Bitcoin ETF can push the Bitcoin price much higher in early 2024. In fact they'll be sharing with you Scaramucci's $400 ,000 Bitcoin price prediction alongside 1 billion Bitcoin users. We'll market all this plus so much more in today's show. Yo what's good crypto fam. This is first and foremost a video show so if you want the full premium experience with video visit my youtube channel at Cryptonewsalerts .net. Again that's Cryptonewsalerts .net. Welcome everyone just joining us. This is pod episode number 1419. I'm your host JV. Today is October 2023 2nd as the October pump continues. Let's freaking go. Shout out to everyone today in the live chat. Make sure to let me know where you're tuning in from. Of course at the end of the show I'll be reading everyone's comments out loud as this is a live and interactive show. Seven days a week and the after party FYI will be on rumble. So let's get it. Let's kick off today's show with our market watch as we do each and every day shall we. As you can see here on coin 360 we got Bitcoin up roughly 3 % for the day trading at roughly that 28 ,000 mark just under it. We have Ether consolidating trading under $1 ,700 while BNB, Cardano and Solana are all in the green and checking out coinmarketcap .com. We're finally climbing again at a market cap of 1 .09 trillion. We've been stuck around this 1 trillion level for quite some time. We got roughly 46 billion in volume in the past 24 hours meaning volume is up roughly 60 % and Bitcoin dominance is massively on the climb. I think the bull market is in full gear 49 .6 % for BTC with the ETH dominance at 18 .3 % and checking out the top 100 crypto gainers in the past 24 hours Satoshi vision leading the pack up 23 % trading at $39 .37 followed by e cash up roughly 9 % followed by Bitcoin cash. Now it's interesting that the Bitcoin forks are the top gainers for the day. I think anything associated with the name Bitcoin is pumping. It is what it is and checking out the top 100 crypto gainers of the past week Satoshi vision lead in the pack here up 23 and a half percent alongside our LB up roughly 12 % and XCC up roughly 9 % and checking out the crypto greed and fear index we're dead in the middle 50 which is neutral yesterday was a 48 last week a 47 and last month a 39 in fear. So there you have it fam how many of you are currently bullish on the king crypto now that we in October let me know and make some noise and put God candle and maybe the Satoshi and God's watching above will send it let's freaking go and with that being shared fam now let's dive into today's Bitcoin technical analysis and check out some of the charts and what's popping with the king crypto where Bitcoin is likely to go next Bitcoin aim for 25 at the October 2nd Wall Street open at a bullish start as the month continued which you can see here in the Bitcoin one -day candle chart data from Cointelegraph and trading view showed Bitcoin price action staying strong into October's first US trading session Bitcoin made swift gains into the weekly close following a contrastingly cool monthly candle completion that saw Bitcoin finish at 26 ,000 970 now popular analyst right capital says this monthly close despite now being more than 5 % below the spot price called for caution quoting him here Bitcoin performed a September monthly candle close below twenty seven thousand one hundred and he also said technically that black line was solidified as resistance for September so he acknowledged the October breakout but said this would invalidate the bearish predicament should it endure now he also says because the Bitcoin monthly closed below the black line there's always going to be a chance that this price action could end up as an upside wick as he shares here alongside this chart Bitcoin offered upside wicks of up to 8 % long before but right now Bitcoin is up four and a half percent this month so technically anything up to twenty nine thousand four hundred could theoretically end as an upside wick so there you have it let me know if you agree disagree with the analysts say goodbye to your credit card rewards big box retailers led by Walmart and Target are pushing for a bill in Congress to take away your hard -earned cash back and travel points to line their pockets Senate bill 1838 would enact harmful credit card routing mandates that would end credit card rewards as we know it if you love your credit card rewards visit handsoffmyrewards .com and tell them to oppose credit card routing legislation paid for by the electronic payments coalition now closer to home market observers noted the ongoing encouraging signals on the exchange order books quoting jelly here spot bid continues while funding is negative this reeks of disbelief and as he shared here Bitcoin still spot -driven perhaps haven't done much yet to be honest yeah so Bitcoin shrugs off fresh US dollar surge just as eager to hit new local highs in the day was the US dollar after Congress avoided a government shutdown the US dollar stays the sharp rebound from losses seen late last week and at this time the DXY circled 106 .7 barely point two points off its recent 2023 highs and for crypto analyst Nebraskan Gooner a breakout from here would put 108 in play mark in new 11 -month highs as outlined right here now it's interesting the Bitcoin is pumping alongside with the dollar is usually it's inversely correlated maybe it's a sign of the times now together with the hype on yields and the oil prices economist Mohammed el -irian described the DXY strength as neither the US economy nor the markets enjoy Bitcoin nonetheless remain unfazed let's freaking go and as Kaiser points out here well he responded to this news the Japanese 10 -year bond yields are surging hitting the highest levels not seen in over a decade max responded the yen carry trade borrowing and at virtually zero and investing in higher yield currencies is broken this has been the mother of all the Ponzi schemes funding the global financial ization for 30 years and now it's moving in reverse and quitting max again Bitcoin is a state of heaven that exists entirely beyond anyone's reach except the owner preach that's why everyone needs to be stacking them sass and with that being shared fam now let's break down our next breaking story of the day a theorem ETF futures launch today October 2nd that's right check it out investment management firm Vanek is set to launch as a theorem strategy ETF today October 2nd with the product now listed on the website under the ticker EF UT and set for trading on the CBOE the Vanek a theorem strategy ETF will look to accrue capital by investing into a theorem futures contracts and has no direct exposure to eat the fund will expose cash settled eat futures contracts on CFTC regulated commodity exchanges Vanek also touts the benefits of the product being a C Corp structure which includes tax benefits the long investors compared with registered investment company structures here's the announcement here on X from Vanek when you are ready enter the ether how many of you have seen this commercial let me know in fact they launched two of them they're quite fascinating the investment manner has been advertising the launch of the East spot ETF on its social media accounts over the past few days with to enter the ETH themed TV commercials promising the upcoming launch now Vanek also announced that intends to donate 10 % of all their profits from its upcoming ether futures ETF to a theorem core developers over the next decade and as reported 15 different ether futures ETFs from nine issuers are currently awaiting approval from the US SEC and I guess they have until the end of September of 2023 analysts cited sources with the SEC of saying the regulator wanted to approve either future ETFs before potential US government shutdown but meanwhile bitwise asset management confirmed that trading for its to ether if futures ETFs would commence October 2nd as well with investors getting access to eat futures trading on the CB OE so there you have it we all know that futures are not in investors best interest in fact investors are most likely going to get wrecked we want the real deal baby which is the spot ETF and a little later in the show we're gonna be discussing grayscale converting their product to not only a Bitcoin spot ETF but also a spot a theorem ETF here in just a little bit but first we have some breaking news coming in surrounding FTX founder Sam Bankman freed I mean you can't make this stuff up he allegedly was trying to bribe Donald Trump with five billion dollars to not run for president good freaking Lord check this out how many of you seen this story let me know former FTX CEO SPF once looked into paying Donald Trump not to run for president of the United States according to Michael Lewis the author of the new book documented the rise and fall of SPF Michael Lewis author of going infinite the rise and the fall of a new tycoon spoke about the former crypto billionaire and the FTX founder in a 60 minutes interview yesterday October 1st one of the revelations in the book is that SPF looked into paying Donald Trump to not run for president that only shocks you if you don't know Sam as Lewis added the following Sam's thinking that we could pay Donald Trump not to run for president like how much would it take the number that he was kicking around was five billion dollars and he added before saying that SPF was unsure if that number came directly from Donald Trump and here's your prescription I know just the pharmacy to get this filled who are you a pharmacy benefit manager a middleman your insurer uses to decide which medicines you can get what you pay and sometimes even which pharmacy you should go to why can't I go to a pharmacy in my neighborhood because I make more money when you go to a pharmacy I own no one should stand between you and your medicine visit ph RMA org slash middlemen to learn more paid for by pharma SPF was also looking into the legality of it according to Lewis who added that they were still having these conversations when FTX blew up it just didn't happen because SPF didn't have the five billion any longer very interesting if you haven't watched the video check the show notes below the video in the description and after the show you can catch it out this clip taken from 60 minutes now according to Lewis SPF saw Trump as trying to undermine the democracy of the United States thinking he belongs on a list of existential risk crazy Lewis spent more than 70 days in the Bahamas on a dozen different trips to visit SPF in 2022 and the pair became close I would say in spare bedrooms I had codes to every room including the penthouse he told the Wall Street Journal and speaking on the fallout between the collapse of FTX in November he shared it was like the aftermath of Pompeii clothes and belongings left behind frozen in time many headed to the airport leaving company cars with the keys inside at the curb now Cointelegraph contacted legal representatives for SPF and Trump mark botnik who handles communications for SPF case said there was no comment from his legal team and according to the trial schedule calendar released last week the high -profile SPF trial begins October 3rd which is tomorrow less than 24 hours out with their jury selection the trial then begins on October 4th so it's going to be an interesting week the trial will involve seven fraud cases against SPF two substantive charges where the prosecution most convinced the jury that Bankman freed committed the crime and five other conspiracy charges so there you have it I wouldn't put it past Bankman freed whatsoever he was supporting the Democratic Party making mass donations to the Dems in support of Biden and heavily against Trump so I mean good lord could you say fraud I mean I could see Trump saying hey give me you want to give me five billion and not run for president sure let's make it happen but fortunately enough Sam Bankman freed didn't get away with that particular crime that we are aware of as he lost the company and the company went kaboom thanks to CZ calling him out firsthand on his FTT scam tokens but anyways fam let me know if that's surprising or shocking to you or you're not surprised at all now let's discuss the etherium spot ETF which is way more significant than any futures ETFs will ever be let's break this one down following the approval of the first ether futures exchange traded fund grayscale investments is looking to convert its grayscale aetherium trust to a spot aetherium ETF kudos to them because they're doing the same thing with their Bitcoin product as well they want to spot Bitcoin ETF the new New York Stock Exchange arca filed the conversion with the United States SEC October 2nd today grayscale's existing trust invested in ether futures contracts as an indirect means of exposure to aetherium but a spot ETF will invest in the underlying asset itself that's what makes it that much greater it's not derivatives or paper it's the real deal they have to hold the underlying asset as Michael Sun and shine shared here grayscale has filed to convert their grayscale aetherium trust to a spot ETF thank you for your continued support we can't wait to get started yeah so he also says as we file to convert the ethe to an ETF the natural next step in the products evolution we recognize this as an important moment to bring aetherium even further into the u .s.