Bitcoin has reached a market capitalization of US$1 trillion for the first time in over two years. Meanwhile, Gary Gensler talks bitcoin ETF.
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00:00 Intro
00:25 Sponsor: iTrust Capital
00:56 BTC hits $1 Trillion
02:28 The fed might be wrong
04:42 ETF inflows pick up
05:46 Gensler on ETFs
08:13 Gensler: Is BTC decentralized?
09:45 Gensler on ETH & other ETFs
12:35 Gensler on AI vs Crypto
13:51 Hong Kong Stablecoin
15:04 CITI & tokenization
15:53 Charts
16:20 Outro
#Crypto #Bitcoin #Ethereum
~Bitcoin Reaches $1 Trillion 📈 Gary Gensler Talks Bitcoin ETF~
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What trillion of course is now the new Mark and that is for Bitcoin in terms of Its market cap today we'll be running Down all of that what's happening with Bitcoin flying close to 20 52k and also Break into some very interesting Comments from Gary Gensler you don't Want to miss it my name is Paul bar Welcome back in the tech path let's get Started today it trust Capital this is One of the places you guys can go for a Long-term hold in a crypto Ira Self-directed so it's very easy to Manage one of the things that you do not Pay is fees in the sense of monthly fees All you have to do is go in sign up use Our link down below and you pay Basically for your trades and that You're conducting within your own Account get into alt coins get into Bitcoin go into eth even gold and silver All of that available in itust so make Sure and just use our link down below For a $100 funding reward if you decide To go that direction couple of things Have happened today Bitcoin market cap Reclaim claims $1 trillion this is Hasn't seen this in a while now with Bitcoin moving very fast from around 48k To a fast overnight of closing in on 52k A lot of things have happened I think That are contributing to that but I Think the real Factor here is whether or Not the crypto markets have actually
Decoupled from the financial markets Because we do know what we're facing From a financial standpoint as it Rallies right now above 51k closing in On 52 we've we got a few things that are Of note here 130 million in Cryptocurrency uh short positions were Liquidated so a lot of people who were Shorting yeah well that didn't work out So well uh the entire cryptocurrency Market cap rebounded above two trillion That's overall when you look at all the Market as a whole and 3% in the last uh 24 hours that's significant in the sense Of what we've seen with Bitcoin one Thing to look at and and we do these Videos on our Market sentiment index is When we were looking at our Market Sentiment data on bitcoin and ethereum They were printing lower highs we were Seeing this little bit of a stair step Going up and down but the key was is Lower highs uh going to the Future so is This a long-term play or is this a Position right now where the market Could get a retracement that's the Caution I think that everybody has right Now and I know a lot of people are Really in that position right now of Looking at a short on bitcoin so uh it's Going to be an interesting Market to see It uh play out here's a video I wanted To go into because this is talking about The FED how they're going to react
Because a lot of this is still IND Indicative of what's been happening with The fed the fomc meeting that we aired Here on this channel was in my opinion a Good highlight in the sense that maybe It is finally one of those scenarios Where we've got the market separating Listen to what they had to say on the CPI fast but on a historical basis are We at a would you call this a high level Of of interest Rates well no you know on a historical Basis this is not a high level of Interest rate having said all of that we Have a couple things working right if You go back far like the early 20th Century and so but given what we saw From the 60s to the or 70s to to the Current period I think of six seven 8% Is not crazy for for the long uh long Rates well I think that's absolutely Correct um you know we we've been Through uh unusual period of very very Low rates we're now normalizing the Other issue that is certainly very Uncertain is the so-called neutral rate So the FED thinks it's probably in Restrictive territory but there's a Debate that says you know the data thus Far suggests maybe you know it's not as Restrictive as they think uh which Explains why it is that we're seeing uh Surprises positive surprises in the Labor market positive surprises in GDP
Growth all right so a couple of things He hits on there which is uh intriguing Because it it does have some relevancy Here to the crypto markets is whether or Not these high rates currently around 5% Obviously we've seen the performance of The markets continue to fly the question Is is is this the new standard and if it Is then the opportunities I think have Started to validate against Dollarization all sorts of things which Is why I think we're seeing a little bit Of a decoupling in the crypto markets Finally even though Bitcoin has started To move somewhat in alignment with the S&P it's not necessarily lock step like It has been in the past cycle so very Interesting things happen right now on a U on a macro standpoint you know of what This might look like over the next few Months and weeks going into the summer And definitely into the next having Bitcoin ETF inflows pick up again with Black rock leading the way couple of Points right here black Black Rock saw Its largest net inflow on Tuesday more Than a month after launching and Remember this was when we saw Bitcoin Under 50K uh I TR or excuse me I shares Bitcoin trusts ibit brought in 493 Million during the trading day according To bitmax and the funds um broke the That broke the previous days net inflow High Mark of 386 million so a pretty
Significant not broken just smashed it So just 7% of ETFs are as big as black Rocks fund overall here was Eric balunis Talking about ibit popping off there Again this is all signaling what that We're getting a lot more institutional Capital coming in we are seeing a ramp Up into the happening and we're seeing Conditions possibly from a macro Standpoint positioning positively Sometimes too many good things I always Worry about that because I look at that And I say is there a hidden gray Swan Here that could cause some adjustment in The market I want to go over to Gendler's Clips there's a couple that we Have this one is talking about really Whether or not they're going to and why Uh they were so reluctant in actually Approving these ETFs listen in it it Almost was we we called it grudgingly uh When you finally got from from the court Case sort of forced in is it really just Neutral or wasn't there a little bit of A we're not sure about this thing and Way let me say it this way we're Merit Neutral if somebody's complying with the Laws okay so if they're giving full fair And truthful disclosures to the American Public who gets to decide on their Investments but you're so smart you're At MIT and people listen to your uh what You think about Bitcoin and it it is Troublesome to some to me if I if I look
At it and I see all the merits of it and Someone that taught about it and Understands it seems to have an opinion That maybe it's I don't know pet rockish Or something I get your I get your words About pet rocks and so forth so here we Have an asset class all of these 15 20,000 crypto tokens y many of which Without prejudging anyone many of which Are actually something called invest Ment contracts or Securities and the Platforms upon which you trade the Intermediaries they're not like in this Building NASDAQ that's that that has Protections and against fraud Manipulation and the like um just seeing People lose their shirt on with NASDAQ Side you can lose because there's risk There's risk in Investments but what we Try to do as a society is take some of The fraud and manipulation risk out of The markets by regulation is is that the Problem though it's not necessarily Bitcoin Bitcoin the underlying asset but More the froth and the potential for Frauders to use it that has been field Becky that's been uh Rife with fraud and Manipulation so as we know this has kind Of been the narrative from the SEC for Quite some time rif with SW I think rif With fraud meaning the markets uh from The crypto side of things this is just Something that we continue to see in all Financial markets and especially when
You think about what's happening even With the S&P much less what we've seen In the greater markets around uh Investments and securities and I think This is just one of those things where He's struggling with this because of Let's just call it special interests That do dictate to the SEC here's Another clip that talks about Bitcoin And if it's decentralized listen in we Get paid in dollars or Yen or Euro and You have a whole Central Bank and and Support for one currency generally per Economic uh region that we don't have Here so there is a very real economic Difference which is part of part of the Attraction since it's decentralized and Then and you can't have you can't have a Propagate Central Bank it's not that Decentralized I I know you're saying Because of the ETFs but but but really Not decentralized because look how Finance tends toward centralization Since Antiquity so what do we have we Have a handful of three to six core So-called crypto asset itself the way That you know the The how The Ledger and now how many Times do you have people on this show That say I want to invest in something Because how the books and records are Kept I mean Joe really you it's just an Accounting Ledger so I think the point he's trying
To get is the centralization now granted There are some pundits out there that Would agree with that but you're still Looking at the option of holding your Own tokens and I think that's the differ Here versus what we see in the Securities Market which is true Centralization into exchanges into Trading houses into uh what we've seen In terms of institutional Capital all of That in alignment with where Bitcoin is Is a little bit of a different um a Different breed one thing he did say and They got into was the eth ETF and when That might happen listen to what he had To say and really if ethereum is a Security you know how does that analysis Differ from from how you would think About Bitcoin I I what we did in January Was cabin to one set of filings we have Other filings you're absolutely right uh In front of us but I'm I'm not going to Prejudge it for you or the audience That's something that a five member Commission if we're all sitting here at This table together a year from now that This dozen or so approved ETFs that There's only like two or three gets even More concentrated or do you think that There's going to be you know dozens of These things that's really up to the Market to decide but what what you saw When this happened is fees came down Dramatically there was a bit of a
Investors benefited because there was a Bit of a competition there investors Also benefited from better disclosure Because they they they have to do things Called registering with the Securities And Exchange Commission on those Products and investors got the benefit Of any surveillance by the various stock Exchanges all right so ironic that he's Talking about fees lowering fees that's Good for the market and he also made Another key statement there the markets Would assess this meaning the likelihood Of seeing other ETFs hitting the market Would be a reality because the markets Kind of pushed their way into a Bitcoin ETF and if you think about where we were And where the SEC was prior to all of This and also in alignment with what Bitcoin is doing today at 52k holding That position right before and really Before a happing to see this kind of Market volatility I think this is the Big indicator that is the differentiator In the market versus the last Bull Run Simply put we have institutions really Playing now in the game so it's going to Be interesting to see how this plays out Because the charts are starting to look A little different than they did in the Last bull run here is Jacob Campfield Talking about the very same thing that Geszler was kind of trying to avoid here And that is see what's happening Bitcoin
After the ETF that's what's going to Happen to eth so don't fade it obviously That's a big deal we talk about eth Quite a bit here on the channel this is Going to happen with ethereum and most Likely we are going to see some very Similar results but I think it's a Different animal in the sense of what it Could affect going forward in terms of The projects the amount of transactions And what we'll see in terms of the Future of that Tech versus what we've Seen with with Bitcoin which is more of A digital gold especially on the ETF Side so that in itself will be Intriguing and I think Black Rock along With others they're ready you know They're ready because they see they see What's happening these inflows are real And happening in a big way all right so Let's go to another clip here this is uh Them basically CNBC squawkbox kind of Wrapping up with gendar he got a little Bit sideways on his assessment of what's Happening in the markets related to Ai And crypto listen to what he had to say AI is a tool but when you use that tool To do bad things oh my God now you're AI It's okay for a a not Bitcoin well how do you see them no I'm Just saying you'd say it's it's a tool But if you use it to do nefarious things Then it but it's then you're saying it's Not ai's fault well it's the samee you
Just made the same case for Bitcoin with With bitcoin's a non-security but if It's if if now you're splitting hairs Again no no I'm not Joe and for every Jamie Diamond I can raise you one Paul Tutor Jones one hold on one Larry fin One Stan rck and Miller one I mean I'll Raise you all Peter teal Mark Andre they Don't run the SEC well they don't run the SEC and it's Clear that they don't know how to assess New tech uh technology as we start to See the very same thing of these Nefarious actors are going to happen With all technology moving forward so You can't use that base case when it Comes to crypto as a whole now there is Some things happening in the market Right now that you need to be aware of And and this I think has a a maybe a Potential to to push us into regulation A lot faster if you go over to coin Market cap and you know just take a Quick look at 24-hour volume right here We'll go and resort that here's the 24-hour volume and as you'll notice There's three tokens right there at the Top that are recognizable tether Bitcoin Ethereum usdc right right underneath That is first digital first digital is Essentially the Hong Kong stablecoin and This right here when you look at the Growth in what we're seeing just in First digital ranking the top four in a
Global stable coin this is going to put A lot of pressure I think on DC to get This done quickly uh in in essence of Getting some stable coin regulation once We get stable coin regulation I think You know the Market's already Off to the Races I think we will see traditional Capital start to move into instead of That 1% position of trillion six to S Trillion setting on the sidelines could That end up being the two three or four Percent position as we start to see Major Market moves so this is one to Watch for sure further into the news is Of course City Bank testing tokenization Of private Equity uh this of course is Being done on Avalanche couple of points They made in the article uh they joined The subnet latest bet from Wall Street Giant looking to dive in further into Use cases of blockchain adoption that's A good thing this is an additional test Than what we've seen already on subnets By uh fintech firms and of course right Here newest test City included uh IND Token transfer secondary transfer uh to Enable trading and validating on new Capabilities through collateralized Lending all of those meaning good things For Avalanche also good things for Crypto and tokenized securities real World assets as a whole going forward We're going to try to get a video for You guys on that because I think this is
Going to be a big factor uh going Forward just wrapping up here we'll go Over and take a look at the charts on Bitcoin at holding at 514 sliding off That top I'm on the hour right now just Taking a look sliding off that top of 519 couldn't quite crack the 52k this 51 May be the window that we need to be Watching and eth of course holding Around the 27 to $2,800 Mark right now After that big aggressive move yesterday And today all right we're going to try To get to you guys got a lot more to Cover this week lots of news and Definitely a lot of insight so make sure And subscribe to the channel right now Just take some time hit that subscribe Button it does help get us in your feed But more importantly it helps others Start to understand really what's Happening in the market make sure and Catch me out there on X Paul Baron we'll Catch you next time right here on Techpack
