The Wolf Of All Streets

“$BTC may fall with markets in the short term, but dollar debasement and Treasury intervention in the bond market make the long-term case "Everybody knows that inflation is bad. The cost of the things that you buy has gone up and it continues to go up." "Does it really matter to you if CPI, PPI, PCE are 2 or 2.5 or 3.4 or 3.1, or what the data inputs are? Or does it matter to you your steak costs more today than it did a month ago." "Yes, in the very short term, Bitcoin may move down with the rest of the markets, which are obviously all dumping today on this news." "But what's more important is the very phenomenon behind it. We know that eventually the government is going to have to be irresponsible and print more money. We know that the Treasury is intervening in the bond market, that is the actual long-term case for Bitcoin." "All of these fabricated news headlines and numbers are actually the reason that you should buy and hold Bitcoin in the long term." "I'm old enough to remember last week when we were talking about the cooked numbers that meant that they could cut rates. Now we get to talk about the slightly cooked numbers that are probably not as bad as they seem that could make them continue to raise rates."”

“People want Fed cuts for a pump in risk assets, but the Fed only cuts when something breaks "But what we really have right now is the strange contradiction with markets, right? People want to see the Fed cut, because a Fed cut means that risk assets will go up, because it means there's more liquidity." "But the Fed only cuts when something's broken, right? So you're effectively cheering for something to break in the economy so that the Fed can cut so that your asset can go up. And it's like living in the Upside Down in Stranger Things. None of it makes much sense." "Once again, yes, Bitcoin went down today because of things that were happening in the macro, sort of. But it has risen if you zoom out, and it is on an epic rally, its best third quarter in many years, and probably entering into a new bull market." "So we're gonna see what the Fed does. We'll see what oil does. But I can tell you that no matter what the Fed does and oil does, the bond market is not believing any of them."”

“Mike calls $BTC a poor investment, saying it hasn't beaten the Nasdaq since 2017 despite 3x the volatility "I do enjoy when Dave calls smart money people invest in Bitcoin. If they're smart, they're poorly invested. They're making poor performance, poor relative performance." "Because you just look, Bitcoin versus the Nasdaq. It's the same level as first touch in 2017. It's the same level as the 2021. And over that time it's traded 3 times the volatility. Now that's just a fact." "But I've heard that from prominent money managers at economic club events in Miami. They look over at Bitcoin and say, yeah, great. I do much better risk adjusted than Nasdaq. Why would I touch this highly speculative digital asset that has, in a space, within a space of unlimited supply?" "And I like to bring that out because I started calling Bitcoin amongst a bunch of pigeons last year. At least precious metals are a bunch of doves. There's only 4 of them: gold, silver, platinum, palladium, and they've reached 2 highs." "So I'm glad you mentioned platinum, Dave. The high in platinum was in 2008, basically $2,200 an ounce. And right now we're $1,700 an ounce. That's a horrible investment. And I was part of it for a long time. It just, some of us got lucky to sell in Q1, stuff we held for decades."”

“Banks in North Dakota are launching their own stablecoin, and they chose Solana to settle on "Even the banks in North Dakota are realizing this now. I had also told you that there is a national network of regional and community banks that's launching their own bank stablecoin network. This is not even a part of it. This is just North Dakota preempting them and creating their own system." "This is coming to all banks near you. This is how they will settle." "Now, is that investable for me in some way, shape or form? Not really, but maybe because it's on Solana. So if this becomes a massive network that's using the network and burning Solana as gas fees, then yes, the price of Solana should rise." "It's very encouraging to see that they are doing this on a decentralized network that you can own the token of."”

“The bond market isn't buying one good inflation report over fiscal risk, and $BTC is the beneficiary "The bond market is an absolute mess right now. So it's not necessarily, I would say, rejecting the inflation report because that's just one PCE report." "But what it is saying is that one good inflation report cannot offset expensive oil, strong growth, government borrowing, and long-term fiscal risk." "So you would think, once again, that in a world where bonds are dumping and interest rates are flying, Bitcoin would be under pressure because it's supposed to be a risk asset. There's less liquidity, situation is tightening, all those things." "But if interest rates are rising and bonds are dumping because people no longer believe in the system and are afraid of fiscal dominance and irresponsibility and monetary irresponsibility, that's actually what Bitcoin is built for." "And in my mind, that's why Bitcoin is doing so well. And it's, of course, doing it so well right on time for the train to leave the station for the next bull market, if you do believe in the cycles. What a time to be alive, right?"”

“Bitcoin is on track for its strongest quarter since late 2024, despite rates above 5% and high inflation "Bitcoin is about to close its strongest quarter since late 2024, its first green quarter in quite a long time. And that was while interest rates were soaring and have largely been above 5%. So Bitcoin didn't care about the high inflation numbers, and I don't expect it to pump because of fake low inflation numbers." "As much as I hate to say it, because I was one of those guys who said the cycle is not going to be a thing, that it doesn't matter anymore, it coincidentally topped on the exact day it was supposed to, and it has been in a bear market ever since. Maybe Bitcoin remains a beautifully uncorrelated, idiosyncratic asset that you want in your portfolio precisely because it's not correlated to anything else." "Some days it is correlated, because some days all assets are correlated when they coincidentally move in the same direction, or there's a piece of news that moves them temporarily. But if you zoom out and don't pay attention to the daily moves, Bitcoin is not correlated, and is probably entering its own cycle." "Bitcoin has made a new higher high, is above all meaningful moving averages, and is likely entering a new cycle regardless of what happens in the rest of the economy."”

“The S&P 500 is sitting near record highs. But the internals are weak. As of Wednesday, 257 of the 500 stocks in the index were trading below their 200-day moving averages. That’s more than half the index underwater on a widely watched long-term momentum measure. Breadth is bearish. Now look at crypto. Of the top 100 tokens by market cap, 88, including Bitcoin and Ethereum, are trading above their 200-day SMAs. Most of those same coins are also holding above their 50-day and 100-day averages. That’s a clean, bullish configuration across the board. And here’s the part that stands out: $BTC, $ETH, $XRP, $SOL and the majority of the rest are still well below their all-time highs. They look relatively inexpensive compared with equities that are already pricing in a lot of good news. Weak breadth in stocks near highs has historically been a yellow flag. Strong breadth in crypto while prices remain far from peaks is the opposite setup. The data doesn’t lie.”

“The S&P 500 is sitting near record highs. But the internals are weak. As of Wednesday, 257 of the 500 stocks in the index were trading below their 200-day moving averages. That’s more than half the index underwater on a widely watched long-term momentum measure. Breadth is bearish. Now look at crypto. Of the top 100 tokens by market cap, 88, including Bitcoin and Ethereum, are trading above their 200-day SMAs. Most of those same coins are also holding above their 50-day and 100-day averages. That’s a clean, bullish configuration across the board. And here’s the part that stands out: $BTC, $ETH, $XRP, $SOL and the majority of the rest are still well below their all-time highs. They look relatively inexpensive compared with equities that are already pricing in a lot of good news. Weak breadth in stocks near highs has historically been a yellow flag. Strong breadth in crypto while prices remain far from peaks is the opposite setup. The data doesn’t lie.”

“The S&P 500 is sitting near record highs. But the internals are weak. As of Wednesday, 257 of the 500 stocks in the index were trading below their 200-day moving averages. That’s more than half the index underwater on a widely watched long-term momentum measure. Breadth is bearish. Now look at crypto. Of the top 100 tokens by market cap, 88, including Bitcoin and Ethereum, are trading above their 200-day SMAs. Most of those same coins are also holding above their 50-day and 100-day averages. That’s a clean, bullish configuration across the board. And here’s the part that stands out: $BTC, $ETH, $XRP, $SOL and the majority of the rest are still well below their all-time highs. They look relatively inexpensive compared with equities that are already pricing in a lot of good news. Weak breadth in stocks near highs has historically been a yellow flag. Strong breadth in crypto while prices remain far from peaks is the opposite setup. The data doesn’t lie.”

“The Bitcoin bear market is officially over. Today's newsletter: https://t.co/rivl0NHLZL”

“🚨 $1.09 billion in leveraged crypto positions were liquidated in the past 24 hours as Bitcoin surged above $87,000. Of that total, $919.48 million came from shorts, including $557.64 million in Bitcoin shorts alone. At the same time, $160 billion was added to total crypto market cap in the past 24 hours. Bitcoin is up around +7.3% over the past 24 hours and +10% over the past 7 days. This officially puts Bitcoin up +50% since its low seen just 2 months ago, and +17.5% this month, even after the Senate failed to pass the Clarity Act. Respectfully, I would not wait for lower $BTC prices.”

“NO MORE BEAR CASE FOR bitcoin:native "Now we have the confirmation that we need that the BTC bear market is over." "I took a screenshot for you guys earlier, not even of the current price because it doesn't matter at the moment." "On that weekly BTC chart, that blue line is the 50 MA on the weekly. We are now above it. We had a weekly close above it yesterday on Sunday. That has been the confirmation of every bear market to bull market transition in the past for BTC." "More importantly, that black line at $82,814, which is an oddly specific amount, shows BTC breaking out for a higher high." "For technical analysts who look at charts and believe in them, there is no more bear case for BTC."”

“Respectfully, I would not wait for lower $BTC prices. If you were waiting for 40k at 60k, all of the data should force you to reconsider.”

“Bitcoin BREAKS $85K As The Bear Market Case COLLAPSES Discussing Live @ 9 AM EST https://t.co/uvH3rw1UO0 https://t.co/M0G0KWjaMM”