Fed To Wreck Bitcoin Tomorrow? Or Just A Dip? | CSN | Simply Crypto

the yield feed and a price feed. So guys, with the 10, you're sitting near 5% and the Fed deciding Wednesday rates data and the data everyone is watching is coming right from pith.network. Welcome to Simply Crypto. The cryptocurrency space, I'm your host, Leah Blue Water. This is your incredible co-host, Chuck. If you didn't already know, I'll day long the dogeonal dogs passable from one space to the next for 24 incredible hours. And you're at the halfway point. It's 12.09 in the PM. Chuck, how are you doing today? Good, after noon, Leah, speaking to listeners, doing a wonderful, you know, down here in the Georgia, whether we got sunny skies and a cool breeze, life is good today. I've barricaded myself in the office, turned off the lights, put my phone on D&D, absolutely locked in. Let's go, gotta love those office moments where you're like, listen guys, I like you and all, but I love crypto, gotta go. Webb, how you doing? Thank you for being able to meet me today. Oh, hey, what's up, Leah, I'm doing good. Good, how's your day? All the chilling, pretty good. Just getting it started, I guess. But yeah, it's going good. Go, let's go, that's awesome. So great to have you here. I just love it. Guys, pack the stage, we're gonna need people up here because we're talking some stuff today. Does anyone know what's happening tomorrow? I mean, we've only been talking about it for like literally two weeks straight, but whatever. If you don't know, now you know, Bitcoin slipped under $80,000 overnight, as low as about $79,600 and it's fought back to $80,400 today as we go live. Consumer confidence just smashed forecast at 91.7, the highest since June. Wall streets in a good mood, the NASDAQ's up almost 1%, the S&P 500 is within about 1.3% of his record all on the eight, I trade. And the Fed started its two day meeting this morning. Ooh, all the coffee and donuts you can eat. Tomorrow at 2 p.m., Kevin Worsh tells us if another rate hike is coming and meanwhile, Ripple just became a federally approved trust bank. You can see all this bearish and bullish information being kind of like combined into one like big soup of craziness and you gotta think for yourself, you gotta think for your cycle. Okay, how am I doing on that? We're at the beginning of it. Okay, that's some good news. Inflation, not doing so hot. Rate hikes modest, but they're there. There's a risk. Rate hikes are bad. What else, what else we got? We got the treasury yields. Those are up, not the best, because people would rather not risk their money. That's the thing with treasury yields. People would rather put their money in treasury yields. We're talking billionaires. We're talking trillionaires here. We're talking the most money in the world. Why would you want to risk it? And put it into a volatile asset when you don't have to. 5% is a great yield, especially when you're talking about a billion dollars. So Bitcoin has to look really pretty to compete with that. And Bitcoin looks okay. Like Bitcoin looks like kind of like an eights right now. It's not looking like a 10. So that's the competition. I bet took in every dollar of yesterday's 10 million ETF outflow. And the dogeonal dogs timeline is going absolutely crazy. People are so excited about what's going on with the dogeonal flipping dogs. We're working as a team and we've got a lot going on right as we speak. So 80K, is it a floor? Does it hold tomorrow? Is it a trap door? Woo! Let's get into it. Do you guys think 80K's a trap door or a floor? Get on up here. Laker, crispy, guts, fun, oak, and MVM. Nevermind. Bite, mix, zik, reggie, chai. I would say you, but I know you'd be up here if you could be. No key. We need you up here. Ziko, Grammy, truck, and sways. What do you think, Chuck? Trap door, 80K? I think more of a floor. Maybe that's just a delusional bull in me, but the deal is we've seen it go somebody stomping on that floor, trying to open up the door and fall through it, but it seems to be something beneath it, pretty sturdy that's keeping it up. Keeping it propped. Maybe it's propped up on the indecision, waiting on tomorrow. But we'll see, won't we? But I definitely have seen it dip down below and then recover. Yeah, that was my initial statement for we were getting some 77 calls, some 74, some 70s, stuff like that. My call was back to 80 for recovery. Let's go. Yep. That seems to be where we keep landing here in Simply Crypto. We are just saying there's a lot of by-pressure under 80K. So there's nothing we can do about that. We're just spectators. Here is a little recap of what's been going on with Crypto and Bitcoin. And it will be interesting. There's some different takes. There's some different takes overall about what we could see this week. So let's just dive in. Bitcoin just lost $80,000. The day before the Fed, here's what actually matters. Spot Bitcoin ETS pulled about $770 million in just two days. In strategy, the market's biggest buyer hit pause, spending $205 million on its own preferred shares instead of Bitcoin. What it means, the strongest bid in crypto is defending itself, not buying. Strive did buy half a billion, so the demand has rotated, not vanished. People just won final approval for a US National Trust Bank to hold the reserves behind its RLUSD stablecoin and regulators now want community banks issuing stablecoins too. What it means, stablecoins are turning into bank products, a long-term win for the issuers and for the blockchains that settle them. Meanwhile, AI stocks are wobbling. Elon Musk warns most AI cloud companies will die. Crypto still trades like tech and Bitcoin monitors that became AI data centers sit right in the blast zone. Now, the chart, on the weekly, the floor is the 50 week average near 76.5,000 with the support band all the way down to 73. The ceiling, 83,000, then 85. Hold the floor and close the week above 83 and 85 is back in play. Lose the 50 week on a weekly close and 73 is the next test. This week, on Wednesday, the Fed, a pause is already priced in, so listen for December. On Thursday, inflation, GDP, and earnings from Coinbase and strategy, quick hits, Electrum Wallet users, update now, a buglet attackers redirect payments. The NBA just joined regulated prediction markets. In South Korea, May delay its crypto tax, again, to 2029, floor at 76.5, ceiling at 83, trade the levels, not the headlines. This is... Trade the levels, not the headlines. I don't know about that, guys. Trade the headlines, not the levels. But, guys, we've been calling a lot of this stuff for a while. We've been calling banks, stablecoins being used as bank products, and you can see that's happening with our LUSD, which is the XRP stablecoin. We have also been calling that $76,000 level as a level that could get retested, leading up to the Fed. We've been talking about how a hold or a pause for the Fed is now priced in. So, if we get a rate hike, it will be a trap door. We will go lower, for sure. So a pause is priced in, and now we have to wait all the way to December for the next Fed rate decision. And every single bit of financial data is going to shake us. It's going to have an impact on the market. So this is a really interesting time to be in crypto. In tech, tech is carrying the market. Again, it was really interesting what Elon Musk said, wasn't it? What do you guys think about that idea? Oh, CK, we need you up here, truck, we need you up here, Mulan's. Let's go, we're inviting people to speak. Zeke, come on up, we need you Reggie. VIP, always need you. VIPs always here when he can be, that's for sure. Truck, come on up here, CK, need you up here. What did you guys think about that thing that Elon Musk said about how these AI cloud computing companies are going to be out of business soon? Oh man, they're not making any money. I mean, that's what we've already covered that here. And the fact that AI is using all this power and everything else to set themselves up for what? For what's next? Right? But they're the bleeding money. And just like some other entities have figured out that you take too long trying to wait for the market to come to you and the market will leave you behind. So there's a lot of old theories that no longer are going to exist in this new market. But I do want to break through real quick and say that I'm proud of this market. The Bitcoin holding at 80 through all of this turmoil and all of this other stuff and everything else. To me, I'm not going to shoot anybody, but to me, that is a big indicator of how sturdy things are. And with all of the compression that we've been having, I think that when it does set free, it's going to rip. So that's just my sentiment. But there's a lot of businesses out there that are running on an old thesis. And even the opinions of people years ago, this is definite. That is definite well and maybe definite in your understanding and theory now, but the world changes. So I don't think that anything is actually definite for long. So. Yeah. I'm with you. You know, when you're like engaging and then you don't have your my Ken Mutin, you're like, ah, you have to like click out of so many things. Yeah, I think it's just oversaturated. It just is what it is. It's the gold rush, you know? Maybe that's a great idea for spaces, Leah, is they put the mupe and like so when you swipe down, it's on the out. Is it? Oh, it is. Yeah. Did you know that? Oh, shoot. It's right that. So my gosh, imagine how easily you could just run the space. So many times I hit that X and credit to close to the X. But if you're actually cooking a pose, you can get to it. I didn't even know it was there. I was just like, it would be good if it was there. It's too close to the X. It's probably why I never even thought about hitting it. Yeah, luckily for me, I got a pretty big phone with this pro max. So I got a little bit of separation, but I couldn't imagine. I've got another device that's about half the size, the old eight version and man, I got a pretty big phone. Oh, yeah. That could be really, that could be actually really bad. Yeah, just rug the space. But it would be, yeah, okay. So it's actually right there. You just have to be like super precise. And if you don't hit it right, you're going to rug the whole entire space. So that's just like really not cool. But yeah, the AI trade is just very oversaturated. And that's that. And it's gold rush. There's going to be winners. There's going to be losers. There's going to be gigalusers. There's going to be gigawinners. Cool. Let's go. Just sending an email here, guys. I mean, who loves Grockbot? It's, bam, I'm OG if you're loving Grockbot. If Grockbot is doing some work for you, it's like you're working. Grockbot's working. It's you and Grockbot against the world. And one other thing I like the training, excuse me, that is getting because I have an immediate comparison, right? I've got a bot this over to the side that's just run by Grockbot. Okay, cool. It's only been doing what I ask you to and point and shoot type situation. But then you have giga-tron. It is, you know, completely need to ask working with the hive and learning from others and everything else. Give the same task to both bots. One is garbage and then the other one actually executes it in a pristine way. So being hooked up to this, join giga-tron.com and your bot's being able to learn from others as a huge step up. Yep, heck yeah, that's right. So very, very cool. I love the Grockbot.