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 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 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
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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 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 One 2 3 4 I declare thumb war 5 6 7 8 I use this hand to masturbate
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