[Music] to the moon. BTC sets a new all-time high as stocks struggle and ETF flows accelerate, reviewing a wild week in crypto. Room to run. Many believe this could be just the beginning for BTC’s price discovery, and there’s plenty of data to back up their predictions. The good, the bad, and the ugly. Altcoins have had an eventful week, too, and none more so than the three we’re discussing today. Stay tuned for all the gossip and a look at last week’s top performers, a reluctant hero and a truly nasty villain, tweets of the week, dates for your diary, a coin bureau portfolio change, and much more besides. This is the Coin Bureau News Live. Yes indeed, folks, this is the Coin Bureau News Live. Normal service has been resumed. I am back here in the studio in Dubai and I am joined by Nick apparently. Where is he? Oh, there. Good grief. Good day, fellow crypto afficionados. How do you do, Nick? Is everything okay? Everything is okay, guy. I am dressed like this for two very important reasons. Right. One, Bitcoin broke a new all-time high last week. It did. two. In the previous stream, I was wearing a vest and swim shorts. Okay. So, you thought you thought you’d just go the other way. Way in the other direction. Way in the other direction. I’ve got to say I like it. Anything uncertain where I’m going to be. Unpredictable. That’s the way I like it. Keep the audience. I’m unpredictable. Exactly. Well, I mean, the comments are loving it. Uh, someone has just said suit. I think they’re still struggling to struggling to digest it. I do like it. Yes, it’s good to look sometimes. It’s a good suit. Um, fantastic. Welcome back everyone. Yes, it has been a very eventful week in crypto. As Nick mentioned, Bitcoin broke a new all-time high. It’s kind of looking like it might have another go at it uh today. It’s sort of flirting with 110K. So, uh, as you can imagine, um, there’s going to be a lot to talk about in today’s stream. We’re going to talk a lot about Bitcoin. Uh, the week that it’s gone, the the week that’s gone and the week that is coming up. Um, we’re also going to talk about altcoins as well. And yeah, I mean, we’re just going to have to discuss this suit in more detail and depth at uh at some point, too. Um, but Nick, uh, shall we, um, shall we crack straight on and talk about the weekend Bitcoin? Yeah. First, guys, if you guys want to enjoy the stream and you know what, hit the like and don’t forget uh to let your sentiment be known in the bottom. Where do you think Bitcoin is going? And we’ll come back to a sentiment check after the Bitcoin uh section. Yes. I should also say uh we’re live on Instagram as well today. It’s not just YouTube. Wow. That’s that’s really why he’s wearing your suit. He wants to be Instagram. Yeah. Instagram femin. Yeah. Yeah. So, uh if you’re watching on Instagram, welcome. And please, that’s that’s how you choose to live for the bare market, bro. Lend us down, bro. Well, you know, someone we we like to say we like to present both sides of the argument here. Yeah. Okay. So, Nick, talk to us about what happened last week. So, last week, let’s let’s rewind back. Um so last week early Monday morning if you recall Bitcoin went and had a run to the new alltime to another all-time high and unfortunately it was you know dropped right in the Monday morning hours after some FUD out in the Asia. So we had a classic Bart pattern. Of course that did not dissuade Sailor and he came in as usual on Monday and bought over $760 million worth of Bitcoin and uh indeed it was a very volatile day on Monday. we ran towards that the all-time high again but came back and retraced. So it was a very volatile day. Um however on Tuesday we did post the largest daily close in history in terms of the highest daily close in history and this followed on from the week prior the Sunday morning was also the largest weekly close ever. So it’s we we slowly were working up to that Bitcoin all-time high. Yeah, it seemed it seemed like it was just a matter of time. was written in the stars. And then came Wednesday and then of course we broke through that all-time high, previous alltime high at 109,000 or so and we went up to about 110 on Wednesday. And what was really interesting about this was it was happening at about the same time that stocks were crashing, right? So we had uh the S&P there falling lower and this was all around concerns of US debt related to the budget. Yes. Yes. the uh that is well Bitcoin is only going in one direction it seems but also US debt is also going in one direction and that may be slightly worrying doesn’t matter who’s in Congress you always there’s always going to be more deficit spending the more things change the more they stay the same yeah that’s that’s wild though look at going back to that like you know it’s gone past COVID levels past World War II levels as well according to the projections yeah in just the current the base case probably Nothing. Probably nothing. The bond market didn’t like it. And bonds sold off as well. The Treasury 30-year hit above 5% same as the 10 year above 4.6. Yeah. Wasn’t there a bond market auction and not much take up? Not much. Exactly. Especially Especially on the long end. So, it wasn’t looking too good there. But that doesn’t matter because while stocks were down, bonds were down, the dollar was down, Bitcoin was up. The global financial and monetary shift is upon us. Certainly is. It is. Thursday though, it didn’t stop there. We continued up through 110K uh up to almost about 111. Um and um then we also broke through a day that golden cross, that daily golden cross we talked about in the previous stream. Yeah. Uh so the 50-day moving average officially crossed over the 200 day moving average last week, Thursday, which of course is a bullish momentum indicator. And Bitcoin also overtook Amazon by market cap guy. How about that? How about that? And not a uh not a single exploited worker forced to urinate in a bottle. Exactly. Bitcoin Bitcoin doesn’t make you do that. Exactly. Yeah. Gives you the financial freedom, not the indentured servitude to the Amazon. There we are. There we are. A deserved a deserved leaprog into fifth place there. There we go. Friday was was looking good until Oh yeah. Yeah. You can always rely on this. You know, one thing is for certain. When when Bitcoin’s looking good, we can rely on one thing, right guys? It’s it’s just like Yeah. It’s just like he’s sort of watching the market and as soon as he thinks everyone’s getting a little too a little too excited, a little too frothy, he just comes out and starts talking about tariffs again and then it’s like oh yes. Yeah. Not not before he places his large short position on hyperlquid or something. Yeah. The puppet master himself. Yeah. We had over 300 million in long long liquidations because of that on the Friday. Uh and then on Saturday and Sunday was mostly sideways. We got close down to the 107K level, but again we were saved from with another pump by guess who? Yep, there he is. There’s the EU tariff delays. So yeah, so uh taking with one hand and then giving with another a few days later. Yeah. Yeah. Typical abusive relationship. There we go. Uh so uh so yes, so those tariffs Yeah. delayed until the 9th of July. Um, so and then yeah that you can imagine there’ll be some more drama about that before too long. Count for it. Yeah, exactly. Count on it. Yeah. Okay. What about today? Today? Well, uh, Sailor of course bought again today. Um, another 427 million above 100,000 again. Um, and this is now he holds 580,250 BTC. Wow. So, yeah, it was only recently passed that half a million mark and now he’s now he’s well on his way to 600,000. Indeed. And not only that, last week, last week apparent I think they issued a new he’s issuing a new uh stock issuance to raise even more cash to buy Bitcoin. So it’s just will not stop. This machine will not stop. Okay. Well, let’s let’s see how that ends. But um yeah, so Sailor keeps on buying. Uh meanwhile, ETF flows uh which have been, you know, fairly obviously picking up recently, but have been kind of disappointing this year. They have started picking up big time. Big time. $2.7 $2.7 billion last week in inflows. Every single day had an inflow. Yeah, looking bullish. And the volume itself is climbing too. Uh um yes, up the highest highest since they launched. Yeah, this is total volume $25 billion in weekly volume. Okay. So that is that is again a very positive sign. It shows uh you know shows I guess maybe not retail as we as we’re used to it but perhaps retail traders are coming back in in in some sort of force but they’re going to the ETFs slowly but surely. Yep. Um so what does this mean for this week? Uh well firstly uh thankfully overnight we didn’t open up any sort of CME gaps. So that means that we’re not going to have to come back and close them. So we can continue the rally up to Valhalla. Um Asian equities are up. So this is the well that’s the pre-market but Asian equities the nicke was up today and that’s pre-market for the US. Obviously the US and European markets are not open today. Yeah. So apparent I think it’s Memorial Day in the US and in the UK it’s just a any sort of bank holiday which is any opportunity just to you know I think yeah Brits have just decided that uh they need a joke uh need a a break and another day in the pub. So um yeah that’s what’s happening in the UK. So, we’ll see when markets open tomorrow when the ETF market makers and authorized participants go out and buy Bitcoin, what impact it will have on Bitcoin’s price. If we not above the all-time high before then, maybe that could be enough to take us over. Yeah. Yeah. Okay. Um, so if you want more uh if you want more analysis on trade on trading and uh sort of daily price movements, then check out uh the team over at Coin Bureau Trading, Dan and Aaron, the uh I’d say the third most handsome duo in crypto. That’s true. So, who’s the first? Uh well, we’re at number two and then Altcoin Daily number one. Oh, okay. So, not even the suit did it. Yeah. Sorry. Well, we were at number five and then uh and then you came in with the suit. So, you know, we’re on the way up. Um, but yes, and climbing climbing that wall. It’s all good, man. Exactly. Exactly. We’re we’re on our way up. Only headed one direction. Um, Dan has also uh recently released a video there on Coinb Trading. Yep, there it is. Um, asking whether the top for soul is in. Oo, ambitious. Yeah, as a as a soul holder myself, I hope he is wrong. But, well, I hope it isn’t in. I hope it isn’t in. Um, so check out the video there. All right. Um, Nick, would you like a uh would you like an idea now? Are you sure you’d like an idea of what the sentiment is like in the uh in the comments? Hit me. As long as they’re not talking about my hair, whatever, man. Well, I mean, no, they’re not talking about your hair. That’s the good news. Yeah, the suit the suit has gone down very well. Um yeah, they particularly like the uh the handkerchief in the pocket. There we go. That’s a that’s a nice touch as well. Um Red Sox uh has logged onto the wrong channel. He’s saying Manchester United so bad this year. Yeah. Yeah. I couldn’t agree more. I wonder at what stage did he realize it wasn’t a Manchester United. Yeah. This this isn’t Bartool sports. Um I’m sorry to disappoint you, Red Sox, but thanks for joining anyway. You know, you come for the come for the football, stay for the crypto. Um Nick, do you have a court date later? Yeah. Is that is that the real reason for the suit? Yeah, exactly. I’m being represented. Um but generally, uh yes, guy looks very underdressed now. Don’t worry. I feel it. I feel underdressed. I was I was not prepared for this. So, you know, I had to drop it on in last minute. I was like, I’m going for I’m going all in, man. I’m going all in for the suit. I I just had to keep up as best I can. Um guy shops at a thrift at the thrift store. Yes, I do. Yes, I do. So that I can afford to sack more sats. That is what that is what you do in crypto. Yeah, that is what you do in true, bro. Living the crypto lifestyle, man. Yeah. Absolutely. Absolutely. Um, and uh, yeah, Hyper is asking, “How was the Trump dinner, Nick, and how a guy today?” Interesting questions. We We’ll get to those later. Yeah, we’ll get to that, man. It was smashing smashing. Generally, uh, the sentiment in the comments, I would say, is pretty good, as you would expect, uh, with Bitcoin at the sort of heights that it is and alts showing some strength as well, but we’re going to get to those. We’re going to talk about those in a bit. Um, but yes, generally very positive. Um, but still I would say a little confounded by the fact that you’re wearing a suit and not dressed for the beach like like you normally are. I like to say just be unpredictable, man. That’s the why people watch these streams. Who knows what I could come in next week. Yeah. Who I I dread to think. Okay. Uh, so we’ve talked about where Bitcoin went last week. We hit two like 2K likes, mate. Oh, yes. Yes. 2K likes. So, okay. Uh, if you uh if you’re enjoying this stream, then then smash that like button. And if we get to 2,000 likes, uh, then Nick will reveal I should finish that sentence before you start finishing yourself. Nick will reveal a ch change that he has made to his portfolio. Should not have paused there, bro. Yeah, Spence. I love it. I love it, man. Well, it depends how many likes we get. If we get 4k likes, please don’t hit that like button too much. Whatever you do, just just hit it a good amount of time. So, if we get 2,000 likes on this stream, then Nick will reveal a portfolio change that he has made recently. Um, so get hammering that. You’ve also got some ideas around your portfolio. I’ve got some I’ve got some thoughts about my portfolio which I might share with you as well if we get to 2,000 likes. So, you know, if you’re very very lucky. So, you know, do what do the thing do that thing and just obliterate the like hammer it hammer it for all it’s worth. Okay. So, as I was saying earlier, we’ve talked about where Bitcoin went last week. Um, it’s time now to look ahead to where it could go this week and beyond because a lot of people are now saying now that we’ve broken a new all-time high. Now that we seem to be sitting, famous last words, pretty comfortably above 100K, what is the next level we should be aiming at? Are we looking at 150K? Are we looking at a million? Um, you know, where is BTC going to go from here? And of course, this being crypto, there are plenty of people uh with plenty of opinions on it. But fortunately, we have uh dressed in a suit here in the studio, someone who has not only got opinions on it, but has also done a lot of digging into some data uh to back these opinions up. And Nick, you shared a uh you shared a tweet thread. You know, I love my data guy. Yes, indeed. Um so, yeah, I did a bit of a tweet thread last week. I think there’s a few uh uh like I said data points we want to point to that show that this time around specifically as it relates to where we were in previous breaks through the all-time high and where we are this time. So firstly for example one of them is the futures funding rates. This is the perpetual futures funding rates. They are much cooler and lower than they were back in December 2024 and March 2024. basically shows that the market is less euphoric FOMOing in taking on massive amounts of leverage and paying a lot in funding cost to do that. Therefore, that means that we less likely to retrace quickly through any sort of cascading liquidations of the longs. Um, also we have options implying volatility. It’s much lower than it was in January of last year as well as March. Therefore, options buyers are paying less. They’re less worried about potential downside risk and there’s less volat there’s less worry about volatility in the markets. Again, another indicator that people are more resided to the fact that we’re not we’re not going to retrace. Spot ETF flows are also much lower than although they have picked up, they’re much lower than they were back in November 2024, February 2020, I mean 24, which show therefore shows as well that when they start buying, it will accum the accumulation could help impact on Bitcoin’s price to the upside. So there’s still not that retail or institutional FOMO we saw in previous all-time highs. And one last point is this is specifically as it relates to retail is the uh search trends on Google for Bitcoin much lower than they were back in March of this year or in January of this year. Yeah. So going back to those ETF flows, I mean I yeah, if as you pointed out on that that chart, they’re way way lower than they have been at at previous peaks. And you and I guess if yeah if they pick up if they sort of really start to accelerate then then that really opens up some you know massive upside for for BTC’s price in terms of um thinking about internet searches for Bitcoin. I mean I I do sort of wonder about this data now partly because I wonder you know how many people sort of know about Bitcoin now. Do you know what I mean? It’s like you know maybe there isn’t necessarily that sort of searching for what it what it is and what it’s about. And I also think it would be really interesting to know the data for that people are putting into the likes of chat GPT for instance you know because I think there has been a big shift to uh you know a lot of people are now using chat GPT perplexity etc as their kind of search engines rather than Google. Yeah indeed that I mean it’s been the go-to for many years for people to look at for retail interest. Uh but I wonder if there’s any sort of data around AI search terms. I don’t think OpenAI has released that information. would have to write it to Sam Alman to to to release that. But yeah, we can’t tell necessarily. Um, but I we can anecdotally we can talk about YouTube volume, right? Subscriber growth and all that kind of stuff and the views. It’s not anywhere near it was in terms of previous uh, you know, rallies with retail driven, you know, FOMOing in. Yeah, very true. Another thing, not just data, but also psychological, it’s important to think about this. um above the 100k level where we are right now. Think about uh how little mainstream coverage there’s been and think about how little excitement and euphoria there’s been with Bitcoin back above 100K and back through the all-time high. If you guys think back to uh like 2024, December when we when we broke through an all-time high and then again back in March, think about how much coverage there was. Think about the sentiment in the crypto markets. It was way way higher than it is now. Yeah. So that therefore means that they’re just not here. And it’s not as if there’s this some sort of massive euphoria that usually precedes any sort of capitulation. Yeah. We should talk as well about the MVRV ratio as well because that is that is way well well below previous levels too. Exactly. So this is the market value to realized value zed score. It basically measures the ratio of the market value to the realized value and uses some sort of an indicator. you know you’re looking from as in terms of the standard deviation which is the zed score to try and find some sort of indicator where we were in the past and then basically above 3 point something above seven is basically considered overvalued and then below zero it’s like undervalued okay and so back in 2018 when peak all-time high previous all-time high in the previous market much higher in terms of relative valuation similarly back in 2021 in the overvalued territory now look where we are on the MVRB ratio it’s still even below where we were in J December when we broke through the the previous all-time high. So from a relative valuation basis, you know, fundamentally, Bitcoin is still relatively undervalued. Yeah. By a long by a long way. It’s interesting as well to look at that green bar along the bottom, which is obviously undervalued. And and just to see how BTC does not stay in that in that trough for very long, does it? It’s always followed by by a big by a big rip upwards. Deep value. Exactly. Yeah. use that as a that that indicator in your toolbox for sure. Yeah, definitely a good one to have. Okay, so a lot of the data seems to be pointing in the direction of not necessarily up only but certainly more upside for BTC from here. Um and yeah, I think this there’s sentiment would suggest that as well. But we should also see what uh what other people are saying. It’s not just the data. Obviously, uh there are plenty of Bitcoin price predictions out there, um and always have been. But so, let’s have a look and see what some people in the industry, some industry experts are saying. Let’s start with someone who’s not exactly known for uh for bearishness these days, and that is Arthur Hayes. Yeah, exactly. Yeah. In a recent May interview, he reaffirmed his bold forecast that Bitcoin could reach 1 million by the end of the potential second term for Donald Trump in 2028. Okay. Uh meanwhile, in the short term, uh Arthur is uh reckons BTC could get to $250,000, a quarter of a million per Bitcoin uh by the end of this year. Yep. And then um also there’s some Tim, another person who’s got a 250K price prediction is Mr. Tim Draper, Bitcoin OG, who bought Bitcoin from the uh from the Feds, from the Silk Road back in the day. Yeah. To be fair though, he has been saying 250k Bitcoin for at least 6 years. So eventually it’s going to happen. Look, as long you know, as long as he as long as he doesn’t put a, you know, time frame on it, it’s it’s all good. Um, would you you know, would you try and counter trade someone with eyebrows like that? No, man. If they are any indication, yeah, that you know that guy that guy knows his stuff. So yes, Tim Draper, longtime Bitcoin OG flight with that more than Bitcoin. You could Yeah, you you really could lift off with those. Um, so yeah, he is also saying a quarter of a million for Bitcoin by the end of this year. Um, meanwhile, we’ve also got some institutional calls because obviously, you know, Arthur Hayes isn’t always right. Neither neither is Tim Draper, but that, you know, there is at least some consensus there. If we look at what some institutions are saying, um, Bernstein analysts uh have set a $200,000 uh BTC price tag for 2025. Um, meanwhile, Standard Charted, yes, the veritable standard charted bulls, not only did they say they they had a 120K price target, but they came out uh like a few weeks ago and said, “Actually, no, that may be a bit too low. Let’s go for 200k by the end of the year, which is kind of like guys, you’re getting ahead of yourselves. This is not how the game is played in the influence of the CT space. You first have to hit your price target, go and brag about it for months, and then make your outlandish price target.” Exactly. Exactly. And then miss that. But then always come back to the one you did hit. Yeah. Then remind people of the one that you were correct on. So standard charted clearly not clearly not up to speed with the influencer game here. I mean, you know, it seems like 120K is probably only a matter of time, but yeah, you feel you should probably hit that level, take that win, um, and then, uh, and then go a bit more outlandish, but hey, you know, it’s, uh, it makes for good reading. Um, so that’s Standard Charted. Uh meanwhile a slightly more um slightly calmer uh expectation comes uh prediction comes from Matthew Seagull uh Vanex head of digital assets. He is saying uh by uh the end of 2025 180,000 for uh a BTC. So it seems you know the range is from 180 to 250k for most predictions out there. So it’s a pretty pretty bullish range to be fair. Yeah. And cycling through a lot of these predictions obviously there are plenty more. Um they’re all over the internet. It’s very difficult to find ones lower than where we are as in you know or or around these sorts of levels. Everyone seems to think that there’s a lot of room left to run. There are some who think we could retrace a little bit here towards 100k level maybe in the short term but yeah everyone is more bullish for where we’re going. So yeah. So uh that leaves a very obvious question Nick all these people with their predictions. What are your predictions? Where do you think Bitcoin will be? All right. Not at the end of this year. Where do you think Bitcoin will peak this year? What price point? Um, well, uh, where do I think we’ll peak? Um, one sec. Where do I think I had to just pull my pants down? Okay, it’s getting like a little tight. We interrupt this program. My pants are getting a little tight, guys. Sorry. Um, yeah. So, where do I think we’re back to the Bitcoin price predictions? Oh my word. Okay. Oh my word. So we’re back to Bitcoin price predictions. Yes. Yes. 150K I think. 150K. Okay. You So you reckon BTC’s highest price point for this year? 150K. I think so. Yeah. I think it’s a bit more conservative than them I think. But remember that I think also a lot of it is playing on global liquidity. I’ve seen a lot of analysts coming out and saying that the Fed may not cut this year. So that’s there there’s that. So we’ll see. I’m saying 150k. about you. I’m slightly more bullish. I think there will be a lot of resistance probably around 175K. So, I don’t think we’ll quite make it to that level, but I reckon somewhere in the region of 172K. Yeah, I’ll say. Yeah, I I think probably these 200, but you know, well, you know, well, time will tell. Time will tell. I think these 200k predictions are a little bit uh a little bit optimistic. I think we can get there in the slightly longer term, but bear in mind we’re, you know, we’re getting towards the halfway point of the year. 2025 is absolutely rattling along. Um, so yeah, I think we will get to 200k, but maybe not this year. Like I say, I very much hope I’m wrong. Okay, let’s move past this section as quickly as we possibly can and take a look at the walls of fame and shame. is the [Music] right. Sorry. Um, okay. So, walls of fame and shame. Uh, on the wall of shame. Uh, this legendary. That’s epic. Oh my. That is good. Hutch. Nice. Finally, someone is. That’s cool. Nice. I I’ve forgotten how good I look in knitwear. Maybe I should wear some knitwear for the stream next. Some real chunky real chunky cable. I’m sure he’s going to There’s lots of thrift shops that sell knitwear in Dubai. Well, maybe not knitwear in Dubai. I’ll have to go back to the UK. I’ll go back to the UK and pick and load up on knitwear for you guys. Fantastic. Um, and Nick, you look great in that in brown brown leather jacket. Leather jacket and a turtleneck. Yeah, man. Dig it. Yeah, I like it. I like it. Would you have your Would you have your haircut like that? Oh, no. That’s risky, man. I don’t know, man. Just if we’re playing the scene, maybe. Okay. We’ll see. Interesting. All right. So, on the wall of shame this week, this is a dark dark story. Nick, what what the hell has been going on here? Oh, man. It’s it’s mad. So, apparently some sort of a crypto king from the Kentucky from Kentucky, the Kentucky crypto crypto king. Yeah. Uh who is apparently worth $100 million um was accused of, you know, sadistically torturing an Italian tourist, right? uh for over three weeks lured him to New York, stole his passport, lured him also to like a I should say a Soho pad like worth 20 to 30k per month or something in terms of and lured him there and subjected him to three weeks of torture to try and extract three weeks. Three weeks, mate. And the details of the torture are pretty gruesome and I will not detail them here. You guys can go and read the story yourself. but uh for three weeks and uh he was trying to extract his Bitcoin seed of course or his Bitcoin password or whatnot and the guy finally managed to break free on Friday last week or Saturday or Friday, one of the days and managed to flag down the police and then they arrested this guy. It’s pretty crazy stuff, man. Wow. So, well, I guess the good news is this this guy got out of it alive. Sounds like uh pretty traumatizing experience. So, there’s a lot of I mean, I’ve got so many questions here. Firstly, this guy’s worth $100 million. What’s he what’s he torturing some poor dude for his like is 100 million not enough? Apparently also he’s got a private jet and helicopter and estate. Um and yeah, he was I I don’t know why, man. It’s crazy. And the description in the New York Post for how they uh talk about this house or this penthouse or whatever they were renting. Some of the terms. Oh yes. Yeah, I did see that in the article. It’s like people were like, “Oh, there were crypto people down. They they were It all sounded very odd, didn’t it? They all sounded very odd. It sound One of them said, “I knew those crypto guys were just weird, but I I always just thought they’re shooting porn or something.” Oh, good grief. Crypto guys, to be honest, the image uh the image of crypto takes yet another battering. I love this comment from Zerox. Should have made him hold ETH for three weeks. He’d crack in days. There we are. Well, yes. Damn straight. Okay, so uh this guy um what’s this chap’s name? Um Ben John Waltz John Waltz John Waltz. So John Waltz nasty piece of work. Um which is exactly what the wall of shame is for. So um yeah um he is on the wall of shame this week. Who is on the wall of fame this week? This is James Wyn aka the hyperlquid whale. Ah okay. So this is a guy who’s been making massive massive trades on hyper liquid up to 1.2 two billion in some notional in notional for one over the weekend long and short long and short bitcoin he’s gone long on pepe now as well just he roundtrip bitcoin over the weekend he’s in terms of gains up up to 80 million at one point down 10 million so a real real crypto den you know so you know he’s one of yeah well I mean you got to take your hat off to that so this guy is I mean is is this guy challenging sailor for gigachad of 2025 I mean probably but I guess in this case He’s obviously the round tripping in terms of the profit and loss is way way bigger. I mean this is this is gambling level stuff, right? Would you I mean would you say that like the the mark of a true gigger Chad is someone who roundtrips their gains like that? Uh totally totally man totally. Okay. Well, James Win, there you are sir. The wall of fame. Um uh yeah, you stay out there in the trenches, sir. It sounds like you’re you’re probing it all up. Okay, so um talking of altcoins, it’s time to look at the good and the bad and the ugly of altcoins this week. As usual, last week was pretty dramatic in the altcoin space. There was all sorts of stuff going down. Some of it good, some of it bad, and some of it downright baffling. Um so we thought we’d have a look at all of the all of the above today. And we’re going to start with the good. Um, we were just talking about Hyperlquid and that is where we are going to continue because Hyperlid’s hype uh overtook Sooie in market cap. There we go. Crazy stuff. Suie to number 11. Definitely got its eyes on the top 10 there. Yeah, that’s crazy. Who could could you have even thought that just a few months ago? Um and uh but Hyperlid is indeed potentially having a quote Salana moment. Uh so Hyper is mirroring Salana’s 2021 breakout structure. Okay. potentially targeting up to 240% gains by July according to some analysts. Um, and we also had news about this CFTC. So, last about a few weeks ago, the CFTC came out and they said, “We would we would like some industry comments about potentially launching perpetual futures instruments.” Okay. Now, these of course have been around in crypto for since 2018 and Hyperlid said that they had submitted comments to the CFTC um support in this and that of course Hypes price to spike. Okay. So, Hyperliquid inserting itself into the conversation around legislation there in the United States. Um, and I think also as well, uh, Hyper’s probably been helped in its pump by a record amounts of open interest. Uh, this is surging as well. 9 billion $9 billion in OI on on hype on the on the Bitcoin uh on the Bitcoin’s all-time high last week indeed. Um and uh also one thing to note is it’s overtaken centralized exchanges in terms of the open interest just we had um now we obviously comparing it to the likes just above it’s above derbit now it’s you know hot of OKX yeah by bit and binance and this is obviously because people want to they worried about necessarily things around KYC if we’re going to centralize exchanges and whatnot and as a decentralized exchange to actually challenge the sexes is crazy. Yeah. Gosh, that’s interesting. I hadn’t thought of it from that angle, but obviously last week we were talking about this data breach at Coinbase. Obviously, all that KYC data that was leaked. Yeah, that would have been good for Hyperlid as well, wouldn’t it? Because a lot of people going, well, I want this, you know, I want this centralized exchangeesque trading experience, but I don’t want the KYC. Um, so yeah, that would that too will have been will have been good for hype. And yeah, hype just keeps keeps on keeps on going. Y meanwhile uh it wasn’t such a good week last week for Sooie. Now need to caveat this a little bit because Sooie itself wasn’t affected but uh Satus one of the largest uh decentralized exchanges on Suie most certainly was um it was uh exploited last week for around $220 million worth of crypto. Exactly. Some of it was ma managed to be frozen. Some of it was bridged. Um which you know obviously the bridged ones was difficult to well it’s out there now in the e land. So yeah bridged over to e. Yeah bridged over to ETH. Um so what exactly happened? I tried to explain it in simple terms. Uh so bad basically imagine hacking a vending machine by tricking it to accept monopoly money then emptying it of real snacks. That’s essentially what happened to SAS protocol. Spoof tokens drained its liquidity pools of real assets. Wow. So basically what they did is they tried to pull off the exploit by taking advantage of flaws in Catus’ smart contracts. Essentially they sent these spoofed tokens that Satus didn’t h that they didn’t have any market value and CUS expected them as real tokens and this basically allowed the tracker to trick the protocol into behaving like the tokens were valuable and the attacker then used these worthless tokens to skew the price data on SIUS and drain the protocol’s liquidity pools. several tokens collapsed in price including USDC it dep zero you know wow on satus pools um okay so uh yes so obviously this was a this was a fairly big exploit and the uh ramifications of this was sort of felt across the SUI ecosystem lots of SUI ecosystem tokens uh took a dip a fairly big dip on that news as well itself dipped and is still down from where it was before the hack but has actually been pretty resilient Um and I guess uh well partly one of the reasons why is that um a lot of this uh a lot of this well $160 million worth or so the the the funds that weren’t bridged to Ethereum were actually frozen uh and uh recovered. Yeah. Um so that was certainly good news and they’re going to be returned to the SEUS pools. Yeah. So you would hope that losses you would imagine that losses to uh Satus users will be will be minimized. Um that said, the attacker did manage to extract around $60 million worth of crypto that was bridged to Ethereum. I did see that they offered a bounty for that. Yeah. Um it doesn’t seem like the bounty offer was accept $6 million bounty, I think. Yeah. I think that they take they did the risk return and analysis and I thought, hey, let me try and launder this whatever which way. Well, I mean, if this is a big group like Lazarus, you know, the North Koreans, then $6 million is is pocket change to them for what they can hack. So um yeah, but obviously there was a fair bit of controversy uh around this because of those um those stolen funds essentially uh the SUI validators uh got together and refused to process transactions coming from wallets associated with the hack. Yeah, they basically rolled back a lot of stuff which then of course called into question around the whole point around centralization and whatnot. But if faced with two bad outcomes, you probably choose the least bad one. So you know Yeah. Um yeah, I guess this debate comes up so often, doesn’t it? The the idea of well, when a chain is exploited, when a protocol is exploited, do you do you step in and and reverse the hack or freeze funds or whatever and face, you know, face calls of uh you know, face allegations of centralization, which are, you know, usually wellounded, or do you do you allow it to proceed and for token holders to lose money? And it seems like the lesser of two evils is is is always to is always to fall back on the centralized aspects of it. Indeed. And token holders who lost money that through that wasn’t a hack of course was uh Trumpcoin which brings us to the ugly portion of this segment. Yeah. Yeah. Okay. So, uh yes, Trumpcoin has been uh generating quite a few headlines recently. Not I would say uh all good. Um this was in the New York Times which I mean wasn’t you couldn’t call particularly crypto friendly anyway. Um but yes, crypto is good for Trump and bad for America. Um now this is around the fact that uh Trump hosted a dinner last week at his Virginia golf club for the top I think it was 200 holders of of the Trump memecoin. Actually the top 25 holders apparently got a tour of the White House as well. Yeah. And I think Justin Sun, who’s obviously the biggest holder, he got a custom Trump watch. to be on Trump watch right is is to be tion to be one of the most complicated movements uh yeah a really grow a really vulgar watch and uh speaking from someone who’s seen crypto watches in crypto influencer crypto watches yeah it was pretty vulgar yeah okay uh so yes there was a lot of controversy around this and to be to be honest these the headlines around Trumpcoin gave uh plenty of ammo to crypto’s critics as well um the guardians calling it a road map for corruption the BBC pointing out that there were a lot of protesters outside um protesting not only against Trump but also against crypto as well um which kind of highlights the fact that Trump and crypto are now you know inextricably linked in the minds of a lot of people and that is you know that sort of partisanship is I think damaging for crypto’s interests in the long term because crypto is supposed to be a neutral asset it’s not supposed to be politicized but unfortunately this is kind of the way it’s going with Trumpcoin or at least the way that crypto critics are choosing to see it. Yeah. Um and uh also an interesting and again going back to the New York Times um we did also learn uh the identities of a few of the people who went to this dinner. So the big Trump holders um now most of them weren’t really anyone that you would have heard of but uh among the guests were Kane um from Synthetics um who’s also now building Infinex very interesting project Infinex um Justin Sun obviously uh Lamar Odon basketball player former Bballer um and Evenny from Wintermute that’s interesting yeah interesting very interesting did you hear him on the chopping block couple talking about the market manipulation questions and token locks, unlocks and stuff like that with regards to movement, right? Yeah. Yeah. Yeah. That was a very interesting discussion and about sort of market making in general. Obviously, Wintermute the biggest market maker in crypto again, you’d have to say, I mean, yeah, he’s probably one of the most powerful people in the industry. Indeed, he is. Yeah. Um, but that said, uh, Trump did the Trump coin did take a little bit of a pump on Yeah. Look at that. Yeah. That was so that was on the news of the dinner. Yeah. But so, uh, yeah, I mean, but when in doubt, guys, just zoom out, man. Oh, so that’s the full picture for you. Yeah. Let’s take a bird’s eye view here, shall we? Yeah. I mean, I suppose you got to say, you know, for holders of for holders of Trump, it’s it’s not about the gains. Well, I hope it isn’t about the gains for their sake, because there aren’t many gains. Um it’s more about and I did sort of see some quotes from people uh who’d attended this dinner who’d sort of allowed themselves to be interviewed and a lot of them were sort of saying like well you know I just wanted to meet the guy I just wanted to be there show my support etc etc to be fair I mean you didn’t actually pay because it’s not you can still sell the tokens afterwards right so it’s not like paying a cost to go there it’s like you’re buying the token so yes you run the risk potentially of it crashing in the interim but now they can just go and sell it yeah so you know that’s true that’s true um another big question that this raises is obviously we’ve had the uh the dinner hosted by Trump. I mean I think he I think hosted is a bit of a stretch. I think he dropped in for what was it 15 minutes or so. Yeah, there we go. Um the big question is will Melania token holders get their own dinner? I don’t know guy looking at that chart I don’t think they’d be able to afford the travel. Well, you know, it did occur to me. It did occur to me because as we’ll see shortly, there were some criticisms around the food at this Trump dinner. Um, and I was a little bit surprised, and I said this to you before the stream, I was a little bit surprised that um, they didn’t just serve up McDonald’s because everyone knows that Trump loves McDonald’s and he, you know, he’s always sort of hosting, uh, you know, McDonald’s banquetss at the White House. So, I was a bit surprised they didn’t just do that. But then it occurred to me, it’s like, well, maybe these Melania token holders, they could uh, you know, they could arrange to meet at a McDonald’s and and have their dinner there. And you know that would that would probably be fairly easy seeing as most of them probably work there now. Indeed. Just on their lunch break, you know. Yeah. Just get together on their lunch break. Get get Melania in for the Zoom call over at the McDonald’s the employee meeting office. Yeah. Yeah. So uh yeah, Melania holders dinner. We’ll we will of course report on that and bring you all the updates on that uh when it happens if it happens. But yeah, don’t hold your breath. But if you guys are feeling bullish about Trump, Melania or indeed any other presidential memecoin or memecoins in general, then you have to check out and you can refer I refer you to the B. Binance of course the best exchange around the place where you can get using our link or scan in the QR code a 20% trading fee discount for life as well as a $600 bonus. Yep, that’s on Binance. Okay. Meanwhile, uh any good crypto holder should know that you should always secure your crypto as well. And the best place to do that is with Ledger, our other brand partner. They have two wonderful new devices out, the Ledger Flex and the Ledger Stacks. Stacks. Yeah, exactly. Again, if you scan the QR code that you can see on screen, uh that will give you uh an exclusive offer. You get uh when you buy one of these new devices, you also get a uh $10 gift card to load up with BTC. Exactly. Yep. And uh moving on to our third brand partner now for the best onchain analysis around. I’ll refer you to the to Arkham of course. Now they’ve also got a crypto exchange that’s mainly for US users. If you sign up using the link down below or scan in the QR code, you’ll get 50% off trading fees for the first month. But something else that the team did share with us is some of the uh interesting things they noticed and tweeted and talked about last week that wasn’t tweeted on their Twitter. And one of them was um 107 105,736 ETH which was withdrawn from Kraken to eight fresh wallets. And this was just after the Ethereum co-founder Jeffrey Jeffrey Vulkar deposits to Kraken. So for those who don’t know Jeffrey Vulka, he is an Ethereum co-founder who uh was there in the beginning. He got given a large amount of ETH and since that time he hasn’t really done much as to my knowledge in the ETH community apart from sending large stacks of ETH to exchanges to sell. Well, you know, that’s that’s still participating. I guess still participating giving ETH actual utility to sell. Oh, that burns. I was I was a little worried that we wouldn’t get in a cheap shot at ETH uh before the end of this stream, but fortunately I couldn’t help it. Fortunately, we managed it. Okay. Um, speaking of ETH, or rather not speaking of ETH, let’s take a look at last week’s top performers. Yep. So, the first on the list, of course, we talked about it already, Hyperliquid’s hype. Uh, it’s just the mind share, the fundamentals, the trading volumes, open interest, etc., etc. It’s just crashing it. Yeah. Um, and uh, yeah, they uh, reminded us of that on Twitter. Uh, next up, we have a familiar face, SPX6900. SPX, it just it just won’t stop. M Morad started a I think he started an Instagram, a YouTube. He’s just going as as far as possible to just shill. He’s an influencer now. He’s an influencer. He’s an influencer now and he’s talking his bag, which is fair, you know, still holds it. So, credit. Yeah. Okay. So, um yeah, I can’t find any specific catalyst for SPX, but it’s just doing what SPX appears to be doing at the moment. Okay. Uh what’s up next? Next, Zcash or Ze, an OG uh privacy coin. Yeah. No obvious catalyst really, but I think it could be a high beta play on Monero or or XMR, which has done incredibly well over the past indeed month. Yeah. Yeah. XMR has really been doing well and a lot of people are very bullish on Monero. Okay. Um and also we uh next up we have Jupiter. Um this obviously a big uh DeFi big decks on um Salana. Uh again, not an obvious catalyst, but there does seem to be a big milestone, a big uh a big thing in the pipeline um for the exchange coming up. So, uh that that could be there could be some advanced buying uh for that. And what else do we have? World Coin or WLD. Uh so, it’s maybe it’s pumping in advance of Nvidia’s earnings which are coming out on Wednesday because it’s an AI focused coin. Obviously, it’s the same person who backs world coin as Sam Alman obviously. Do you know I always forget that whenever I hear a world coin I always just think like people gazing into an orb and you know just that is what it is. Well I mean that is what it is but I always forget that it’s Sam Alman and Open AI and basically an AI play as well. So yeah I think you’re probably right Nick. I think probably it is those Nvidia earnings which are coming soon. Um we might talk about those more in a minute though but before that let’s have a look at some tweets of the week. First up, we have this one from Nate Garachi. That Get that out of my lap. Context is everything. Anyone who just heard that will just be wondering what on earth happened. Nick is Nick is referring to the little miniature handsome little chap at the bottom of the screen there. Don’t want Don’t Don’t want him in your lap, Nick? No, I’m sorry. Fine. That’s okay. That’s okay. I don’t want you in my lap. No. Thank you, guy, for the offer. I I don’t blame you to be honest. Um, okay. So, this refer, now this, uh, I think was during, uh, the recent vote on the Genius Act, uh, which is still working its way through the Senate. It recently passed a vote fairly convincingly. Um, and one person who was not happy about that was Elizabeth Warren. Crypto I I’d go as far as to say crypto’s biggest enemy. One of the biggest inde What do you think she’s thinking? You know, I think she I think she’s thinking, why did I wear purple? Exactly. What? Yeah, I’m stick out like a sore thumb. But yeah, apparently so as people were going up to vote, she was just standing there sort of, you know, giving them the evil eye and, you know, giving them a bit of that um when they didn’t vote the way she disappointed in you. Yeah, it it’s real sort of like head mistress ticking off sort of thing, isn’t it? Um so yeah, the exact moment you realize that crypto will ultimately win. Yes, sorry about that, Liz. Okay, next up we have this one from Zack V. Funding is normal. The timeline is pretty quiet. Nobody is saying we need more women in web 3. Bitcoin is looking good here. That is the sort of tweet of someone who’s arguably been in this industry for too long. So jaded. But uh yeah, we do we did enjoy that one. Next up, uh this one from uh this is Billy Marcus, one of the people who brought us Dogecoin. So a genuine OG. Yeah. Um complaining about crypto article headlines be like, “Yeah, random guy no one’s heard of predicts Bitcoin will reach 250K by the end of the year.” Indeed. Yeah. Bitcoin ZZXY on Twitter says, you know, Yeah. Or I suppose if you’re someone from the outside looking in, I mean, you know, us in crypto, we all know who the likes of Arthur Hayes is. We talk about him all the time. You know, he’s a big sort of main character, but if you’re not in crypto, you could be forgiven for not having the first clue who Arthur Hayes is. So, probably seeing headlines, you know, Arthur Hayes predicts quarter of a million dollar Bitcoin by who? Um, and we also have this one from Sunday Sunday divine. So yeah, we we alluded to this earlier, didn’t we? So basically that guy is a dish of filet minion, a pan seared halibet, uh smashed potato and seasonal vegetables. Wow. Michelin star. My this is Michelin star. Michelin star at the Trump International. Wow. And this was preceded of course by a seasonal salad followed by a lava cake. A chocolate lava cake. Okay. Scrumptious, I say. Well, say from the man who hasn’t eaten a dessert in 30 years. Yeah. Right. I know. I mean, but the I know you’d love that dish guy cuz I know you love fish. Oh, I just Well, to be honest, yeah, that doesn’t look appetizing at all. Like I say, why didn’t you just do McDonald’s? I Everyone would have been on board with that. It’s totally on brand. Just serve up a load of Big Macs and everyone’s Yeah, the reviews weren’t that great. I don’t think the food critics would have been happy. Yeah. Yeah. Um, for how much CBcoin can we have a fish dinner with guy? Oh, yeah. Sushi. Good one. Sushi dinner. First up is no CB coin and never will be. And second, even if there was, there would be no fish dinner involved. But guy, you have been you have eaten fish once and you actually really liked it. Last year we went to a tapas place and there was some tuna tataki which is obviously a little bit seared tuna and guy was ate the whole plate. Indeed, he had two plates. He was like, I love that beef, guys. Like, god, you do realize that was tuna. It was. Yeah, I was. In my defense, I was very hungry. Um, but you still liked it, mate. You still enjoyed it. I did. I did. I did remember thinking this this beef does taste a bit funny. I was very I’d had a long I’d had a long weekend. Um, yeah. Anyway, okay. Let’s have a look at some coins to Are there any coins to watch this weekend? There is only one coin I will refer you guys to watch, guys. Okay. And that is Bitcoin. Heard about Bitcoin. Uh, let me write that down. Hang on. Bitcoin. Top tier alpha for you. Bitcoin. Okay. Yeah, guys, watch Bitcoin because obviously we could potentially break through that all-time high again this week and um to be honest also there weren’t really any other big altcoin announcements or upcoming uh dates to watch. So, Bitcoin is the one to watch. Yeah, absolutely. Absolutely. Okay. Um uh dates for the diary. So, May 28th FOMC minutes, we will get to hear exact or see and hear exactly what the Fed officials said behind closed doors. Very important from the perspective of where they think rates will be at the end of the year. Yeah. Uh May 28th in video earnings. We obviously alluded to this earlier. Um potentially big for AI cryptos, right? Yeah. Yeah. I think a lot. Yeah. So that’s something to watch if you hold any AI cryptos. Yeah. See what those Nvidia earnings will be. You imagine it would be a sort of sell the news event. Those earnings are good. But yeah. Um so you might see some you could see some interesting price action ahead of those uh earnings ahead of that earnings call which is on weddednesday. Um and also on the 30th, which I think must be Friday, uh PCE numbers. Yeah, indeed. The personal consumption expenditures index, which is the Fed’s preferred inflation measure, uh the estimate is for 2.2% yearonear. Um and the previous number was 2.3%. So potentially, if it comes in in line with estimates, it shows the inflation could be cooling, which is good. Okay. Okay. Let’s Yeah, be good to see inflation going down. Okay. Um well, how are we doing on the likes, folks? 77 777. All right. No Nick portfolio update for you because we said 2000. Yeah. Okay. Well, we’ll just keep it. Nick will just have to keep it under his hat. Yeah. For the time being. Or you can join the com bureau club where I release that information exclusively to them. Yes, that is true. That is true. Which will be linked to down below or we’ll bring up the QR code later on. Absolutely. Absolutely. Okay. We have uh we have some excellent uh comments to look through. Um, Nick and Guy, uh, Lady in the [ __ ] So, that’s when you both I don’t know what’s the worst who’s insulted more. Yeah, he’s he’s he’s he’s done well there, Tibo. He’s managed to insult both of us. Well done. Quite grievously. Thank you, TBO. Good to have you guy. Fancy some spaghetti. No is the answer to that. No, I do not. Um, Brian Vincent uh is uh is feeling bearish. He says, “I smell a black swan brewing.” What could that be? What does he think it could be? Yeah, I hope you I hope you’re wrong, Brian. I hope your um senses are misleading you there. Um no, Red 007 says, “The majority are always wrong. No one was expecting new all-time high in 2024.” That is true. That is true. That is true. Although to be fair, I think that I don’t think many were expecting Trump to win earlier in the year maybe or him to be so pro crypto that he literally, you know, coming out there going to Bitcoin Vegas and all that kind of stuff. So yeah. Yeah. Um Metalor is asking why the hell is Thor wearing a suit? I I I still don’t know Metalor. We haven’t we haven’t had a proper answer on this. Hey, I mean to be honest, I’m always dressed casually and I think it’s feels good sometimes to be in a suit. Like I was telling guy earlier, at least people in the lift now give me respect. You know, I don’t look like like sir, sir, please come in. You you know, you take it. You take it. So it’s been in this office nearly three years and suddenly Nick decides he needs more respect from the people in the lift and the straight man, the concurge as well. Yeah. Uh Ion ION says, “Melania holders will get coupons.” I I don’t think they’ll be that your coupons. Yeah. Yeah. Um okay. Uh we want to um we want to admire Guy in a suit as well, please. How short your memories are. I used to present the news in a suit for years. Every You’ve seen me in a suit. Why? Like this is this is supposed to be the real me, you know, and you just want the suit back. I don’t know. I don’t know. Can you appease everyone guy? You You really can’t. You really can’t. But like I say, people people just don’t remember. Um people forget so easily. Outsider at 83. I own 70 million Cowan coins. When will Ben be my best friend? Cowen coins exist. I don’t I don’t think so. I don’t think Cowan Coin is legit. I don’t think Cowan Coin is tied to Mr. Ben Cowan. That’s for sure. If you have got an invite from a Mr. Ben Cowan who has those Cowan coins, I’d be very cautious about going to that invite because you may end up like our Italian friend in New York. Yes. Yes. do not accept any invites to uh to someone um from peddling those coins. Uh Connor Connoratage says, “Guy doesn’t need a suit. He’s the most refined presenter on YouTube.” Smash and sharp smash. Absolutely. Absolutely wonderful. I think that’s my mom’s alt account. Um in fact, yes, it definitely is wasted on you, DJ Peasant. All right, Mom. Dial it down a bit. It’s a bit I like it. I like it, but um Okay. Any others? Um, yes. Space. Space was saying if if you got that as your last meal on death row, you’d skip it and ask for straight up on the chair. Please. I’d rather die than have to eat that, please. Can we Can we just get this over with? I don’t want that to be the last thing I remember before the electricity courses through my veins. Yeah. Um, now Kenny, I hope you’re telling the truth here. Uh, watching a bit behind. Reump watch. There’s been a manufacturing defect where it says rump. What? I really I really hope that’s true. We’re going to have to we’re going to have to fact check the hell out of that. But um yeah, it’s uh it’s Yeah, that would be that would be just perfect. Um Nick looks like he’d be more comfy in a dress, more breathing room in his legs. I mean, is that why people are telling me to adjust my legs? Yeah. I mean, sorry, guys. I work I work my legs, man. You know, I never I never skip leg day. So, you know, never skips leg day. What am I going to do, man? You know. Yeah. And soft singularity says what everyone’s thinking. Coinbureau doing the Lord’s work. Amen. You are welcome. Well, folks, we will leave it there for this week. Um, let’s hope uh let’s hope we can get another all-time high for Bitcoin. Let’s just do a quick check before we check out. It is Oh, still just teasing 110. Um, but yes, have a very good week. Thank you for joining and we will see you again. Same time, same place next week. Thank you. Ciao. Guy has really nice teeth. Poor British guy. 100 nicks versus one gorilla. Nick up here like he came straight to work from a bender. Curly Thor was doing it for me. I don’t know why guy in a Norway prison. He is in prison. More like he’s prison. I was once Hono’s library. Wise guy in a Norway prison. He is in prison. More like each prison. I was once a library. [Music] One 2 3 4 I declare thumb war. 5 6 7 8 I use this hand to masturbate.
