Bitcoin (BTC) has surged past US$67,000, approaching its all-time high of US$69,000, according to CoinGecko data. The world’s largest digital currency experienced a 6.6% increase on March 4, with signs of continued bullish momentum from both retail and institutional investors. Is Ethereum Next?
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00:00 intro
00:18 Sponsor: CoinLedger
00:42 Shorts Liquidated
01:18 Quigley Becomes Bullish
02:59 Government Spending
03:40 Global Liquidity Incoming
03:37 Stablecoins Reach $5 Trillion Volume
05:09 Bitcoin Price
06:17 Sentiment Data
06:40 ETH Denver on CNBC
07:42 ETH Upgrade & Gas Fees
09:11 RFK Jr. Buys Ethereum
10:40 Memecoin All-Time High
12:05 Venture Capital Dump Coming?
13:46 Star Atlas Skyrocketing
16:46 Ethereum Price
17:30 outro
#Bitcoin #ethereum #Crypto
~Bitcoin Hits $67,500!🚀Epic Ethereum Rally Next!?🔥~
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All right Bitcoin is on its way to its All-time high looks like this week we're Going to break it down for you give you The reasons of why Bitcoin might be Starting to pressure that 69k number my Name is Paul Baron welcome back in the Tech path let's get into a couple of Things today I want to thank our sponsor And that is coin Ledger if you guys are Looking at getting your taxes done in Minutes all you have to do is jump over To their website go to coin lger .io and You can join right there just visit Their website learn a little bit more it Of course connects in with your wallets Connects over with your exchanges all of Your defi all in one place make sure you Can use our links down below all right So let's get to a few points here I want To go into on a couple of things right Here first tweet watch your Guru talking About the shorts 69 million right now Worth of bitcoin shorts liquidated in The past 24 hours I know that doesn't Sound like a lot I know that's a lot of Money but doesn't sound like a lot in Terms of shorts but I think the point is Is that anybody that's shorting the Market right now first of all I'm Curious why with all the indicators that We've seen over the past couple of weeks Everybody are they waiting for a Pullback and if they are is the 69k All-time high going to be the pullback
That we're uh potentially going to see I'm going to go to a couple of Clips That'll explain a little bit more about What's happening as well that might be Driving this push on bitcoin let's go to The first clip listen in um and the ET Flows have actually surprised me I was I Was a little skeptical that they would Take off quickly and now we have close To I want to say $50 billion it's about 740,000 Bitcoin held in these ETFs daily We're getting between 150 million up to $500 million flowing in so there's a lot Of positive forces that are pushing Bitcoin up right now and this is before The Happening which is usually after That fact when Bitcoin really Skyrockets that would suggest and I'm Not predicting this I'm just saying if You applied the historical patterns it Would suggest Bitcoin being an excess of $300,000 at the peak of this next bull Market that means that all the other Tokens like ethereum and salana and some Of these others will move up in lock Step those however usually move higher All right so that of course is William Quigley that is the co-founder of tether And the founder of wax the blockchain so He's been on our show many times one Thing that and the reason I want to Bring that clip in is he has been very Bearish on one the future of Bitcoin and Where that might come from especially
From the ETF side and he's also been Bearish on the trajectory of growth and I think now he started to reposition on This now there's been some things that Have caused this Congress released six Funding bills ahead of Friday shutdown Deadline and if you think about this the One thing to take away from this note it Isn't that the Congress restarted the Government it's the fact that they've Continued to extend the dollarization I Think that is what people are looking at Globally is that there is a concern Right now that the US continues its Unhinged spending pattern and this is Just another example as they uh released Half a dozen bills uh that would keep Six agencies funded for the rest of the Physical year after the months of Turmoil and blockade so that is the Other factor into this now I want to go To another clip here this gets into Global liquidity and why it's making Such a splash right now in crypto listen In all right you I know you're also Looking ahead to Jay Powell he's going To be on Capital Hill this week Obviously giving us some insight into The fed's path forward um what are your Expectations and how is that guiding Your investment thesis I I don't know that he can cut interest Rates right now when we have sticky Inflation if you look at the K Schiller
Uh housing prices are still Rising as 30% the GDP I don't think he'll cut cut Um cut rates but what I do see is that The the the tightening will decrease and So you know the global liquidity is Really one of the things that uh Correlates well with something like Bitcoin um you seen the stimulus package Out of Japan it's Global liquidity okay Uh that drives Bitcoin so that's one of The things would use to hedge you know What what's happening uh with with Government spending when you think about Global liquidity uh that is a huge Factor where is it coming from and I Want to show you something here this is A chart that shows the amount of time it Took to get to five trillion in yearly Volume and these are companies that You'll probably recognize but right here Is crypto stable coins uh us AC Visa 52 Years PayPal 25 stripe 13 this is where We are right now now stable coins are Becoming the de facto potential for Global liquidity and with that being the Scenario you have to consider where is The trajectory of many of these crypto Projects if you just look at the moves That Bitcoin have has taken over the Last couple of days and really over the Last week let's take a look at this Quick run right here this came from Sunday last Sunday one week ago and look At that move that we had during the week
Almost a 20% these are unprecedented Moves on bitcoin and then if you look at Where this weekend started to run on Bitcoin we're looking at almost another 89% this is a big big move for Bitcoin Now the question is is this where it Starts its reversal is an all-time high In the cards for this week as we trade At 617 I think the key here will be two Things Factor one is how much does the Rest of the planet look at the fiduciary Side of things that are happening here In the US in terms of spending because That means dollarization and the Opportunity there and then the other is How quickly do we see liquidity Continuing to try to do things maybe Outside of the gold which is where I Think we're seeing a lot of ETF runs all Of that playing into a very interesting Picture last up was our sentiment data This was one that I wanted to showcase For you guys look at this rise in Amplification this is the thing that we Watch for in things like Bitcoin and Especially over the last few days this Of course was uh last Friday's uh report We'll have our Monday report out on Sentiment but this was giving us a big Indicator that something was about to Happen with Bitcoin so very interesting Times right now I want to go to another Clip this gets into eth Denver and What's going to happen with ethereum
Listen in cnbc's Tech reporter McKenzie Sigalos is joining us now from the eth Denver conference where 20,000 people Are estimated to have come in for one of The biggest crypto conferences of the Year Ma what are they talking about now Part of this has to do with a major Upgrade coming to ethereum in a few Weeks that's expected to slash Transaction costs by 90% and vastly Improve profitability of the companies That are built on top of the blockchain There's also a lot of optimism that a Spot ether ETF could be next all right So first thing is this is CNBC at eth Denver what has been in the past you got To remember the theme of this year was Spor quail so so it just uh it has an Irony about it but the point is is that They kind of overreach the issue of What's happening with the upgrade and The potential likelihood is it won't see Those kind of gas fee reductions but we Will see some and I think that's one of The factors that we have to consider Ethereum bills now a Bulls are now Unstoppable as e of course is breaking Its price above 3500 this is all Anticipating the Denon upgrade which is Coming and all this is is reducing gas Fees and if you look at where gas fees Are right now this is a big deal right Now we're looking at Swap fees low about 150 this just at time that we recorded
This the research team prior to a two Three hours prior to the show was seeing Already an advanced increase in uh gas Fees this is uh unprecedented again These are these are the kind of things That happen in these early bull markets But remember retail has not made its Entry yet into the market what we're Dealing with right now is mostly the Crypto ogs that are trading on the Market and new money coming into Bitcoin I think is what's causing a lot of this Of course with the countdown on on the Upgrade right now 8 Days 19 hours just Around the corner as long as we don't Get a delay ethereum is notorious for Doing delays and post uh the last when You think about the last Upgrade pretty much the biggest upgrade In eth history there was a little bit of A pullback and I'm questioning whether Or not we may see that again with eth or Because of its timing of where it is in This bull run does this just cause People to double down and look at this As a great opportunity to continue to to Flow into eat a lot of very interesting Narratives PL painting out right now I Want to go to another narrative that's Painting out right now listen into this Clip you know I after I went to the Miami Conference I bought a bunch of Bitcoins for my Kids
And and I'm going to buy some ethereum After I leave this Place now when I bought my crypto it was Very hard to to it was very difficult to Invest in cryptocurrency and there's Only it was really only available to About 3% of the people in the world and They were the people who were like Libertarians or they were cyberpunks or They're people who were just curious About Freedom or about Innovative Technologies and add the energy and uh The drive to figure out how do you buy a Bitcoin how do you buy an ethereum coin How do you buy a stable currency a after The After SEC was sued and ETFs now come out And you have black rock and all these Other companies who are investing in Cryptos we're now seeing price honesty We're seeing the the price and value Discovery so the value of these Currencies is Skyrocket now because People are beginning to understand that This is a hedge against inflation all Right so RFK I mean he has been a big Proponent of Inflationary Alternatives out there for Quite some time and I think he also has Been one of the stronger proponents of Crypto this was him over with the Sheba Army of course we saw Sheba also take a Massive run if you were following a Market sentiment index you probably saw
Those numbers come in last week that Sheba was on a move and in fact we saw That mcoin uh kind of get into some of The um the areas that I think we're Going to see a lot of mcoin start to Move move on whether you think about you Know whiff if you look at where kinu is There's a ton of traction I think in the Memec coin Market not not saying go out And buy memec coins but what I'm saying Is if you are going to play in the Crypto Casino those are the interesting Ones that I continue to to see more and More of meme token now the market cap Surpasses 50 billion that's another Major Mark which is setting all record Am amid this crypto boom but I think the Key here goes back to this if you think About what happened in the last Bull Run You compare that to what we're seeing in This one which I think is supercharged Possibly a super cycle that we may be in Because of where we're seeing liquidity Come into the markets because remember People coming into these ETFs is pushing This price up which is creating the ogs The bitcoiners of the world and even the People that are crypto curious to have a Lot of liquidity into the market what Does that do causes people to look at Some other Alternatives that are faster Moving which usually means mainstream Alt coins and of course meme coins to That point I want to go to another clip
This gets into a little bit more around The VCS are they going to go in and Start dumping on everyone listen in how Must have been a rough couple years but I but what you're thinking though about Like the because I I know it's a part of The term sheets you have certain lockup Windows and that's not required by um Any sort of larger regulator so what What's your philosophy behind that I Mean this is just based on like so this This is just this is not new to crypto Just I think people may not realize this About venture capital in general which Is like this is like all the way it Works is you have this J curve right so You invest and then the F value of the Fund drops almost invariably this and I've seen a lot of data from a lot of Venture firms it's that's why it's Called A J curve because it drops and Then it goes up and just basically Universally you the biggest mistake a VC Can make is to when things start to work Sell them too early right all of the Value inventure Capital that's ever been Created in the history of venture Capital has been basically years 6 Through 12 in the portfolio all right so Some things that was Chris di a16z Probably if not the number one uh VC Firm out there in supporting crypto Projects in general but I I would agree With him and you know I've been involved
In Silicon Valley for a long time these Are the thought process that a lot of VCS go through whether you look at Private Equity Funds or you look at What's happening in the general uh Venture Capital funds and how they look At return on Capital the other thing is Velocity velocity matters so this is Going to be interesting to see how this Velocity plays out in the market and how These VCS will play out in some of these Now you have to look at some of the Projects that flow into this what he's Talking about in terms of projects that Are going get profitable really quick This is a good example star Atlas Marketplace hits a single day trading Volume record of 483,000 in uh Stablecoin this is one of the things That we've talked about we like Star Atlas it rides on salana and there are Some things that are happening within These games this is a game a crypto web 3 game if you're new to our Channel you Know you should subscribe right now Because it's going to get you into Understanding why this Market is getting Ready to explode star Atlas will be one Of the leaders out of there and the Investors in Star Atlas are looking at It right now as saying this is the time It's getting ready to take off so a lot Happening out there in the market all Right so here is uh Michael Wagner who
Is the CEO of St Atlas talking about This listening it feels like it's Getting crowded in the Gat space what Goes through your mind when you see These projects comes through a lot of Them are relying on VC Capital again I Don't want to come across as arrogant Here but we do have a pretty significant Head Start I've also been building Companies in the crypto space the web 3 Space now for going on eight years we Are experts in this technology and I Don't want to make it sound like it's Easy because I did say it it takes a Long time so it's not easy necessarily To build a high quality game or just a Game in general but it is arguably the Easier component of our vision when you Consider the challenges of understanding Learning crypto and learning its utility And where it can be utiliz throughout Your game and so again I think we have a Strong advantage in the latter category Which is arguably the harder component Of building one of these new games and I'll also note that just coming out when We did we've created and cultivated what Is is effectively a cult-like following Of players but I think it was November Was the first time we had a profitable Month since February of 2022 and a lot Of that is on the tail end of the Success of sage it is extremely Encouraging because it is still a pretty
Small user base but if that's enough to Get us by then as we get the more robust And more Complete product out there I See only upside in that Revenue Potential all right a couple of things There that I think he said that is very Important one is they've been doing it For a while one thing that I think is Interesting especially around The Narrative of where web 3 gaming is right Now is the speed in which this Market is Coming to fruit what I mean by that Bitcoin is nearing its all-time high I Think much faster than everybody Anticipated what that means it's pushing The cycle or either compressing it or Pushing it ahead so it means that There's a lot of gaming companies who Might have thought they had two three Maybe four months of Runway here to ship Product I think they've been caught flat Footed and the companies like and Projects like Star Atlas who are Shipping at the right time could be huge Winners here so if you are watching web 3 gaming look for the ones who are Shipping not the ones who are say They're trying to get ready to ship Because they may have missed this cycle Because of the timing that has occurred If you look at what's happening with Ethereum right here just to give you an Example this of course is using our Lux Algo indicators if you guys want to use
Lux algo by the way as your Indy just Use our link we always leave it down in The description but as you can see uh Ethereum now cracking over 3500 Solidly and one of the thing with one of The things with ethereum that we've Continued to see is this uptrend in Sentiment it is brewing heavily Especially in our secondary sentiment uh Marker that really I think gives us a Big indicator that there is going to be A huge pent up demand for ethereum so is This maybe nearing a full breakout one In other words one of those God candles On ethereum all right make sure and tune In all week we'll be covering a lot of This I think we are going to hit our 69k On uh Bitcoin we may see an all-time High Maybe by Wednesday at the rate that Bitcoin is moving uh of course if you're Not subscribed to the channel right now Do so and join me out there on Twitter It's just Paul Baron on X we'll catch You next time right here on Tech Bath
