[Music] Bitcoin struggling sailor looks to be
the only one buying as q1 draws to a close with btc’s price still suppressed is 70k on the cards
hyper liquid drama as a Wy Trader is prevented from Wrecking one of crypto’s most popular
new platforms is decentralization dead and buried Liberation you say Global markets brace
for impact as Trump’s tariffs are due to take effect on Wednesday and a look at last week’s
top performing cryptos dates for your diary tweets of the week heroes and villains and much
more besides this is the coin Bureau News Live hello everyone and a very happy Monday to
you one and all thank you for joining us for another episode of the coin Bureau Weekly
News live I am joined of course by Nick how are you sir happy Monday guys yeah all good you I’m
okay thanks I’m okay bearing up you’re bearing up yeah yeah bearing up meaning bearing up yes
slightly bearish for this week slightly bearish you’re not happy for Liberation day I’m I can’t
say Liberation day the idea of it is filling me with joy come on we’re going to be free and
ourselves of the strictures of free trade man free freeing ourselves of profits more like um
yeah it’s an interesting time as ever uh Trump’s tariffs are or the threat of Trump’s tariffs are
wreaking havoc in the markets once again um so we are going to discuss that in a bit more detail
a little later on but of course it wouldn’t be a coin Bureau Weekly News live without first
taking a look at what Bitcoin has been up to for the last week or so um but before we go get
into that can I just remind you folks um you like to do a sentiment check after the first story
see how everyone’s feeling see how everyone’s holding up and coping so uh do let us know in
the comments what your sentiment levels are like are you bullish bearish or somewhere in between
help set the tone for the stream exactly exactly exactly we want this to be about you guys as much
as uh as much as anything else but uh Nick Bitcoin starting off with the Bitcoin price as usual so
today just prior to this about an hour ago we of course had the sa the the one and only savior
the Sailor coming out buying more Bitcoin and this time he went large again man he went large again
his size is size and he went in for $1.9 billion worth of bitcoin and a buy uh so that was now
he’s got there was 22,000 Bitcoin and now micro strategy holds 528,000 Bitcoin wow talk about
him talk about large bags that guy just keeps on stacking yeah yeah the only things are way more
than his bag is or he’s Bal what what a beautiful image so you know like the South Park image of
Randy Marsh walk in there yes anyway speaking of large Michael sailor balls please please go on
last week you did exactly the same thing um which we’ll come back to in a bit but um let’s roll
back to last week so you guys can keep updated with what’s what exactly happened as it relates
to bitcoin and the Bitcoin price so last week if you will call um I don’t know if I mentioned this
in the Stream but we started last week with a bit of a rally during the week and this opened up
a CME Gap Chicago mercant tile exchange Gap and these are generally kind of closed these tend to
come and closed markets tend to close them later on so this opened up a gap about $2,000 um uh
at the beginning of the week from the 83 level as Bitcoin jumped open so remember that point
because we’ll come back to it a bit later um and then of course marcet did R last week Monday
because of con you know there was potential thoughts around tariffs being lifted as well as
of course s buying with another $500 million buy last week as well uh so there were lots of High
Hopes last week Monday and Bitcoin reached that 88k level I mean we were speculating weren’t we
certainly in the headlines that we might we might breach 90k exactly yeah yeah we just didn’t make
it just just stopped 89k yeah now we’re trying to hold 8 now we’re trying to hold day as usual man
as always the evitable roller coaster goes and goes um we did T test 8K as I mentioned and last
week Tuesday we got the news that gme so this is GameStop the obvious the famous meme coin stock
uh they had disclosed that they were considering adding Bitcoin to their treasury Allah the Michael
strategy the Michael sailor strategy Playbook um and then on Thursday they came out and they said
they were going to potentially issue $1.3 billion worth of debt convertible senior notes to buy more
Bitcoin it was interesting to see how this was kind of received wasn’t it I I think it was really
kind of indicative of market conditions because I think most people certainly in crypto certainly
that I was seeing on the timeline were were pretty cynical about it it’s like this is a this is a
pretty blatant attempt by a struggling company to to you know pull the M pull the micro strategy
Playbook off and most people generally thinking yeah it’s probably not going to work again um and
I just feel that if you know if we’d been flying high if prices had been you know 90 K or you know
in the 100K range this would have been hailed as like a gigabrain move um but because you know
because the market is depressed everyone was just like it ain’t going to work yeah that’s true the
they didn’t react well to it the price was down by about 20% on the announcement of that convertible
raise and as as you alluded to potentially there’s current shareholders who think that look this is
just a last Hail Mary they would they didn’t like it very much also because they were using cash
versus to buy Bitcoin and then also there was potentially people who were selling and shorting G
gme going into the convertible note pricing right they’re trying to Arbitrage that and the short
interest on gme reached its highest level since back in 2021 wow so that’s pretty crazy yeah gosh
anyway so that was Thursday Friday we had some very important economic numbers out this was of
course the pce numbers the personal consumption expenditures index which is of course the Fred’s
preferred measure of inflation um headline numbers were in in line with expectations however core was
slightly up and above expectations so that showed that there was still some sticky inflation and the
markets did indeed sell off on top of that and as a result of that coming back to the CME Gap that
I mentioned earlier we did close that CME Gap so there we go you know you called it I called well
yeah I called it of course yes don’t help but the CME Gap is you know quite virous for us you know
okay generally tends to close which will come back to in a bit again another CME Gap opened up over
the week of course it was a really crappy quarter guy yes I have to say well um yeah today is the
last day of q1 2025 may it be for I forever may we never remember it again shall we relegate it
to the back of our minds let’s let’s never speak of q122 again should we could you have imagine
could you have imagined in the beginning of q1 we’d be saying this I yeah I I we we had such high
hopes we really did um yeah I mean we could talk for the entire stream about how the hopes have
been dashed but yeah it was an absolute stinker the virtual cycle we’re so over we’re so back
it’s so over anyways um it was a really crappy quarter um volumes are also not just from k33
research volumes across spot volumes are also uh very they’re at their lowest five month low in
the um right now this is spot trading volumes so that’s another um data point to point to less
interest in trading right now and then this is also another data point this is the contango
which is of course the difference in the future the CME Futures price the one month Futures price
versus the spot price and it basically shows that there’s demand for adding long exposure is stays
is staying soft right now so there’s not that much demand to go long on the CME Futures versus
the spot um there was also some interesting data from glass node um and this is some onchain data
and basically what this shows is that most of the short-term holders who’ve bought recently the
prices they bought at they’re obviously below those prices so they’re in the red and the
unrealized loss are permeating throughout the short-term holder cohort and this is of course
creating significant financial pressure for them and stress for investors okay so those short-term
holders are feeling the strain they feeling the strain however it’s not all that bad because this
chart from again shows the uh percentage of the network wealth that is held by short-term holders
I.E those who’ve bought um in the past 6 months right okay and it’s at a much lower level than it
was in previous Peaks which therefore means that there’s not that much short shortterm holder in
terms of network wealth right now that could dump on the market and then also not only that but the
short-term holders themselves are less likely to to send their coins to spend their coins or sell
their coins because the normalized volume which is spent by this C is at the lowest levels we’ve seen
since May 2021 so the tldr is while the recent buyers are in a loss they hodling strong Diamond
hands hling strong well you’ve got to have a you’ve got to have a long-term Outlook that’s the
if crypto’s taught us one thing so if you’re a new recent buy and you hodling strong congrats guys
well done yeah um yeah so what’s coming that’s the most important what’s happening this week
well as I alluded to before uh we have got uh The Liberation day coming on the 2nd which we’ll talk
about in depth a bit later on it’s so true right it’s so true so true uh and then of course we got
NFP at the end of the week nonfarm payrolls okay so get ready for some volatility um coming back
to the CME Gap I mentioned so last night we opened up another CME Gap to the to the downside right so
basically what that means is we should potentially come back and close that Gap so the Gap went from
about 83,000 down to 82,000 okay so hopefully we could come back and close that Gap although right
now it’s not looking too good brav because um the Futures market for stocks as the stock markets
are opening in about well 20 minutes from now in the US they are looking they’re looking down
right okay as well as we’ also had the Nick close with like minus 4% so it’s going lower on the
stock side which could impact on crypto a timely reminder that it’s not just crypto markets that
that are suffering at the moment in fact it’s most of it tradire that’s driving you know the risk off
sentiment right now but um if you guys that it if you guys want to keep up to date with the markets
on a daily basis as well as how to trade of course we will turn you over to the coin Bureau trading
Channel we already two new videos out today one from Aon which takes a look at where the btc’s
dip is over and where there could potentially be an opportunity for some midcap altcoins right now
uh okay and then Dan Dan the man also released a video on uh why it’s too soon to be bearish
on else so if you guys want to subscribe to the coin Bureau trading Channel I will of course
refer you to the QR code in the top right of the screen which is right over here okay behold the QR
code beautifully done Nick beautifully done okay would you like a read on uh on how the sentiment
is holding off tell me tell me I’m dying to know okay it’s I must say it’s actually pretty good oh
um but I’ll start I’ll start with this one that I just thought was great from dudgeon sound crypto
won’t save you from your inevitable death touch grass smell the flowers and be with your people
all right chill out be honest that is true unless you have billions and billions and you try and do
the Brian Johnson routine you know that is true you could try that you know that is true um I want
to give a quick shout out to uh cran skinator as well always first there in the comments um so yeah
respect to that um nick uh we there’s something we haven’t talked about the elephant in the room if
you like what on Earth have you come dressed as uh just you know I’m very informal no discovering
Florida real to rata thinks very elegant I I mean yeah know I got to represent the coin buo bro
I mean you you slack him with your shorts over there bro so we need to have someone who actually
brings some class andash to the stream you know I’m I’m absolutely lost for words fortunately
Owen isn’t uh guy definitely lost Lo some weight keep it up yep um Nick please
dump the jacket I see not everyone’s a fan oh really why bro no I’m going to a
funeral after this yeah eats death oh so you’re not getting married not today eat
oh my word guy looks like Florida man uh but the Crocs will seal the deal for me as a
trailer park girl from Florida I’m it’s not Crocs I’m afraid no I there’s an oppos policy
no Crocs are allow in this office not at all um that is a firable offense yeah I I haven’t
quite I haven’t quite given up yet um Renee Montenegro is is bearish 60k soon oh 6 oh
okay yeah generally though nickel back the T um cryp and looy huff uh which is a fantastic
name says crypto legislation will favor utility get ready we hope so we hope so so utility yeah
yeah just generally looking through guy why are you not wearing a suit just don’t start just
don’t start um generally I think um sentiment is is better in the chat than I than I would
have imagined given given where we are pric um so let’s see if we can’t uh if we can’t turn
that around and uh and make everyone more bearish no I’m only kidding but let’s talk about um now
every week in crypto there’s a big old drama going on that’s nothing new we’re used to that yeah
um in fact it’ be a weird week if there wasn’t some drama going on yeah it would be a case of
it’s too quiet something’s going on here yeah um but fortunately last week it wasn’t too quiet uh
there was a lot of drama going on and it focused around hyper liquid yeah now hyper liquid it’s
fair to say has been has been very popular I I’ve seen so much chat about it on crypto Twitter
I think probably the airdrop that they did uh the fact that the token has performed pretty well
in general um and there propped up quite a few people’s portfolios I think generally people were
a lot more disposed towards it uh there was also a lot of talk about how it’s you know it’s a very
good protocol it works it works well a lot of people seem to be using it a lot of people seem to
be enjoying using it Etc um however uh someone was using it last week and uh not and and in a rather
nefarious way so there was basically an attempt to exploit the protocol which came very very close
to success so Nick you you broke this down in the Tweet didn’t you I’ll break it down for you guys
now very quickly I think it’s also important the reason I think it’s important to talk about
this is because there are so many threads to pull on in terms of what it could imply for not
just the question of decentralization versus uh decentralization inexes as well as Sexes and then
you know was it an exploit or was it a profitable trading strategy we’ll get onto that in a bit so
I’ll quickly break it down for you of course um now the quick TDR is that you had some Trader who
obviously deposited 7 million across three three accounts on hyper liquid goes long a small cap
shitcoin called jelly jelly on two of them and he shorts on a third account uh he pumps the coin on
chain because it’s a very low liquidity coin jelly jelly is not necessarily a very strong project I
don’t know have you heard of jelly jelly before this i’ I’d heard of jelly heard yeah yeah it was
a failed VC attempt at some sort of a joke coin um so he then pumps it on chain obviously which leads
to the gains on his two long accounts but then of course big losses on his on his big short account
right now of course he withraw some of the pnl on his long accounts but the short account which is
the biggest position at hyper liquid which is go which is massive position in terms of size open
interest all that it goes into liquidation right right but because it’s such a big position and
because it’s such a small altcoin you can’t it can’t be an orderly liquidation so the hyper the
hlp which is the hyper liquid pool Vault it had to take over that position and try and attempt an
orderly liquidation and this is of course everyone knows they have to liquidate the position it
leads into a short squeeze potentially on onchain as well and there was also some exchanges that
launched the Futures markets on it which therefore led to potential short squeeze and then the hyper
liquid pool itself the hyper liquid vult would have to had take a ma massive loss because there
were like millions in loss on that position what they decided to do though which we’ll talk about
in a bit is they decided to say that the actually the Oracle price the entry price is the price that
was be higher than the short which therefore means they effectively of their choice decided to make
the trade a losing trade and they gained like 700k so that’s they shut down the jelly jelly Market
they restricted his withdrawals but that’s exactly the play bypl of what happened okay okay so I
mean first of all because because I mean this trade essenti this the trade that this this um
this person put on the two the two long positions and the short position there’s nothing illegal
about that and I think that probably raises questions for hyper liquid doesn’t it because
this person this Trader was able to enter these position I on a relatively low cap probably quite
illiquid [ __ ] so that is that is something that I’m sure will be part of the postmortem you know
the hyper liquid no doubt conducting on this um now what the trader obviously did wrong was this
Market manipulation off of Hy hyper liquid this onchain pumping of of Jelly’s market cap yeah
so the trades themselves on hyper liquid weren’t illegal yeah they weren’t themselves um and it’s
but his attempt to definitely send the hlp into or the position into liquidation knowing it would
have these impacts um so this brings me back to mind remember recall Mr AI Eisenberg the infamous
highly profitable trading strategy the highly profitable trading strategy that landed him up
locked up in the MDC with with Sam bankman freed yeah he was the guy who exploited mango markets so
yeah I think it was it was uh obviously a market manipulation which is illegal it’s security it’s
it’s fraud so that’s that ansers that question um and obviously hyper liquid themselves labeled it
as suspicious Market activity but now the question comes down to the centralization versus the defi
thing um censorship resistance has come under Fire for this around you know does um hyper liquid
choosing the price and gr you know choosing the actual settlement price and adjusting the Oracle
price the Mark Price far away from what it has on the market is that um just centralization on a
deck and they choosing winners and there was quite a bit of push back from the centralized exchanges
obviously because obviously hyper liquids remain competitive to the centralized exchanges like
um we had the CEO of bitg come out and label it as suspicious activity yeah I think she I
think she said it I think she used the term FTX 2.0 yeah fighting words there um but there
are many alternative takes here and and I and I think it’s it’s there’s no one siiz foot all and
I think that the hyper liquid team were in a very difficult position because for one I think it’s
a matter of um you know the the the people who contributed to the Vault they would have to have
lost in the vault and it was Mark manipulation and I think it’s also a situation where if you a hyper
liquid user right and you were involved in this were you did you did you think that it was fully
decentralized well this is something that Arthur Hayes pointed out didn’t he you know he said like
literally no one is using uh is using hyper liquid and and in imagining that it’s decentralized like
that is that is just a meme which okay fair enough I I think he’s probably right I don’t think anyone
did Imagine That hyper liquid was decentralized the problem becomes you know if it’s claiming
to be decentralized it’s it’s this odd thing between perception and reality and how you know
how a protocol chooses to Market itself because it’s sort of you know one of hyper liquid’s
um selling points is that it’s not a sex and obviously you know being able to do these you know
sex is obviously uh you know they’re centralized of course most of them also require things like
kyc you know so hyper liquid is kind of marketing itself as an alternative to these but if it’s able
to if it’s able to sort of take these decisions unilaterally then the difference between hyper
liquid and just a regular centralized exchange that line starts to get very very blurred it
does but um I think that for it comes back to the Traders themselves and the people who’ve
been supporting hyp hyper liquid using hyper liquid um you know it’s all it’s also transparent
to a certain degree which is another thing about about it you know it was done through a vote Yes
it was a very Swift vote Yes this comes back to the question of validator centralization um but
it was done via a vote and it was transparent in the sense that people knew what was going
on there are when it’s a centralized exchange you can’t see what’s going on behind the order
boook necessarily um but yeah I guess I don’t I don’t know if they necessarily came out there and
profess to be the most decentralized protocol out there I think they uh they the goal they said was
we’re going to create a highly performant onchain trading EXP experience okay which is what we
offer and as a perex they have been the most successful without a doubt um and you know and
then these are there’s many different takes and we can discuss this ad nauseum like in terms of
the degrees of decentralization and you know um does this put them up into potentially in terms
of risks from a regulatory perspective because then oh okay you’re not really a DEX because
you have this centralized control yeah um well I think the regulatory angle is is is worth
mentioning as well because obviously you know that that that does give a hostile regulator the you
know much more ammunition to come in and say well you’re not you you’re not decentralized you’re
you’re you’re manipulating things in favor of one party or the other I I think the problem with
this argument is that it’s very very circular isn’t it because you come you keep coming back to
well do you do you let is is code law yeah do you let it run or do you protect your users and the
hyper liquid chose to protect their users which is the probably the right thing to do because if
that if that short had you know that short being covered by hlp that would have seen hyper liquid
users because they they were contributing to the Vault that they would have been out of pocket
100% yeah and um now this is actually interesting as well because it comes down to the future of
hyper liquid now obviously um in in the wake of this the price of hlp did fall um or hype sorry
hype did fall and there were outflows in terms of uh the withdrawals um but the question now
comes to and there’s two ways you can view it um them having intervened in this market to stop a
malicious exploit Market manipulation or whatever did this potentially lead to um an indication to
the market that if you try and exploit us in a malicious way we will adjust the market to our to
to to hurt you right to to hurt your position and therefore disincentivized any further kinds
of these kind of activities malicious Market activity um that’s the one angle and I think that
that potentially the one that’s going to lead to more growth for hyper liquid the other angle you
can take is well large Traders are going to feel uncomfortable entering positions there because
they think if they can adjust and choose the Oracle price what happens if I’m in a really big
winning position and they adjust it as well have they started a slippery slope of a precedent it’s
a very you know it’s it’s a difficult one there to to square that Circle but I think that um it
could potentially be disincentivized any sort of malicious activity and indeed hyper liquid has
gone back and adjusted many of the um uh terms and um protocol limits when it comes to margin
requirements and other safeguards so yeah yeah I mean I guess I guess there’s the sense that
it could become because of what you mentioned you know exploiters are probably going to avoid
it because they know that they could get their position closed out also it’s probably going to
be avoided by Wales for the reasons that you that you said I guess maybe that sets it up as the kind
of Ideal exchange for for retail you know people doing sort of small to mediumsized trades you know
they probably that would probably give them a lot more confidence in hyper liquid um I think the
only other thing worth mentioning is is something that Zack xbt raised um and he said well you know
this is all well and good hyper liquid acting to protect their users when uh when an exploit was
happening when Market manipulation was taking place and you know closing down this person who
you know they were acting illegally because of that market manipulation but as Zach sort of
pointed out it’s like well what happened when was suspected that dprk accounts were using
hyper liquid and again this this is why this is such a thorny argument isn’t it because
it’s sort of like well you know there are arguments on both sides and it’s it’s so
difficult to arrive at a conclusion about what should be what is the best way to operate
yes you should protect people against illegal uh illegal use of the protocol but then you
know what about what about North Korea yeah yeah indeed lots of food for thought there guys
yeah anyway it’s time for the wall of fame and [Music] shame love that soundtrack okay um there was only
what it was quite difficult oh my goodness what’s this from is this from Lord of the Rings or
something yeah I mean that’s that’s basically my dad without the beard um wonderful it does not
look like any of my parents I hope I don’t grow up looking like that his coin Bureau in 2040 that’s
when the bull market finally comes ether’s fed 4K again um so yes there was only there was only uh
one candidate for the uh Wall of Fame uh this week um the person well he’s the only buyer um onlyy
St Michael of saor he’s the marginal buyer yes we thought he’ would be nation states but no it is
just one individual Mr Saint sailor and of course uh Michael uh also unable to resist the lure of uh
Studio gibli from the new chat GPT chat GPT image generator uh so well on Michael sailor I think
he’ll have to be considered for a permanent spot on the wall on the wall of fame won’t he and until
he SS until he SS in which case in which case he can be handily moved to the Wall of Shame um
but all in good time Michael you know you we can’t just put you on the wall of fame you know
permanently just like that there’s a long process to go through but it’s underway okay um now for
the Wall of Shame uh we went a bit different we decided to put a chart well a pair particularly
a pair eth versus Bitcoin oh my God the lowest level since May 2020 damn bro is painful that is
horrible to look at isn’t it you can see the hope of all the eth Maxis going to the sky when the
when the when the merge came and you saw that that green that look at those green candels those weeks
over there just rallying up there yeah and then look we are now absolutely Brut what round trip on
against Bitcoin yeah um I think yeah this has to go on the Wall of Shame just because I think this
encapsulate encapsulates sorry in in one image basically you know most people’s most people’s
feelings at the moment anyone who’s in altcoins that’s that’s why that’s why you’re feeling like
you feel yeah although to be fair I think ether’s even underperformed some of the altcoins way more
um I think that it’s just not catching a bid yeah I’m sure Ben Cowan will have something to say
about eth going home on uh on this week’s NFA live I will I will be sure to well I’ll be sure to ask
him about it I’m sure he’ll say something about it unprompted just basically guys I’d like to start
off the stream to say eth is finally going home okay um let’s talk about Liberation day which is
H due to happen on weddingday and is basically the reason why the markets are in such a mess at the
moment and as I said again earlier it’s not just crypto folks stocks are suffering too uh because
of this so this is when Trump’s reciprocal tariffs these kind of revi there we go man America look at
that America they’re going to Chuck those they’re going to throw on tariffs quicker than they threw
that tea in the harbor over in over in Boston bro freed from freed from the strictures of free trade
okay this is a sort of global Boston Tea Party if you like um yeah so there’s a lot of uncertainty
around these um there’s been so much kind of back and forth flip-flopping on these tariffs but
we’re going to find out on Wednesday just you know kind of just where we are with these tariffs
um nothing is set in stone a lot could change between now and then and indeed a lot could change
after that indeed yeah I mean even just looking prior to this uh so here’s a headline from last
week just to give you an indication White House Narrows April second tariffs that’s just last
week on The Wall Street Journal headline this week Brer so yeah broad narrow broader whatever
so there’s been a lot of volatility around what we could be seeing um with these tariffs and I
think obviously before we get into some of the analysis it may help for the people who’ve heard
a lot about these reciprocal tariffs what exactly they are which countries they’re going on Etc so
we’ll give you a very high level view um this is a really helpful website um this is um the tax
Foundation which breaks down the timeline but there’s reciprocal tariffs so these are basically
tariffs that are going on to many other countries that have tariffs on the US already about 25
countries in total plus and this will impact about $1.5 trillion worth of imports by the end
of April so that’s it’s massive um there’s also reciprocal not only reciprocal there’s full 25%
tariffs that are going on Canada and Mexico again there’s a um a graphic of all of the uh trades
there’s this 25% tariff going on in Canada and Mexico if you recall this was delayed in on March
4th and it would it excluded cars and everything but now cars are still going on for 25% tariffs
from Canada and Mexico China tariffs are going up to 45% although Trump has said hey guys well
I’ll lessen that if you can throw Tock in the deal this is this is such a trump move isn’t it this
is just it’s hard to know whether this is just mad or or kind of Genius in a way but it’s very
sort very sort of Wheeler Dealer isn’t he very sort ofed he must have a fun he must enjoy Tik Tok
he must enjoy watching those Tik Tok dancers and you know yeah he uh yeah he’s got he it’s it’s
odd his position on Tik Tok isn’t it because he he was really against it and then found that he
actually it probably got him quite a lot of votes is suddenly all in favor um but yeah that’s that’s
that’s kind of mad um but yeah I mean the EU particular this and this has been this is such a
geopolitical shift isn’t it the fact that you know Trump is so and Trump and his administration are
so anti-e 200% tariff on alcohol from EU countries yeah kill the champagne industry he say kill the
Scot Scot wh he say something funny he said that they can get champagne in um great champagne in
California whereas if you know champagne you can’t there’s yeah there’s only one region that can call
a champagne right yeah and look you know American American whiskey bourbon Ry Etc all well and good
but Scotch is way better but you know um Trump is TE total T to yeah exactly he doesn’t drink so
wouldn’t harm him so he he literally dgf yeah uh there’s also 25% secondary tariffs which are going
to go are tied to Venezuela or more specifically any countries that are buying Venezuelan oil like
China India and Spain will face 25% tariffs and what’s interesting is the news just broke this
morning that Trump could be considering similar tariffs on Russia which could be massive yeah
well so this would be obviously Russian Russia’s already sanctioned up the wazo isn’t it but so
this would be tariffs on countries that are doing that are buying Russian basically China and India
yeah I think there could be others as well I mean I don’t know but I think that they get around it
a lot quite quite effectively with their Shadow Fleet Etc so what’s the economic impact of these
tariffs well I mean one thing we can look at is Trump has done tariffs like this before in his
previous term and um the overwhelming consensus was that that it did lead to higher prices that
were borne by the consumer of course higher import costs higher inflation um there are other goals
longer term goals around reassuring manufacturing which is just they haven’t been able to achieve
but they hope this could bring on but anyways the macroeconomic growth impacts is potentially that
we could see a damp in US GDP growth okay yeah okay and I mean I mean that could you know a a
falling GDP that puts us in danger of a recession exactly and Goldman sax actually just yesterday
came came out and increased the chances of a US recession from 20% to 35% okay and JP Morgan I
recall two weeks ago had the the chances at 40% so this is um so that’s the big concern right now of
course is a recession um and what’s what impact is this having obviously that’s the economic impact
and all that but what impact is this having on the market now let’s start obviously with the tradire
markets because that’s driving everything there’s been a lot of positioning already going into the
tariffs themselves in the sense that people have been adjusting their portfolios um but there is
now a risk off tilt obviously so they’re moving away from they’re moving towards defensive assets
things like um US Treasury funds defensive Equity sectors and then of course gold ETFs gold ETFs
have seen a massive inflows yeah I mean gold uh gold just hit a um a new alltime high all time
high and tokenized gold is Al really doing doing really well right yeah um yeah and um so we did
a video on on gold recently and we’ve also got a video on Silver coming up as well because the
the gold silver ratio is uh I think at about 89 so that’s 89 ounces of silver to 1 ounce
of gold and basically anything above 80 sort of says buy silver interesting so silver could be
an interesting one to watch Commodities Alpha you know you guys don’t just come here for crypto
Alpha you come here for Commodities come for the crypto you stay for the Commodities um um yes
there you go man yeah um but there’s also been a rotation to domestic plays moving from the Maga to
the Mega um you’ll have seen the stocks in Europe have just been performing very well especially
defense plays yeah um and then of course there’s this expectation potentially of policy response is
the Fed going to you know is it there’s thoughts that okay there’s always this fed put in the
markets right so if we do go into recession and um then the FED will step in and turn on the Taps for
monetary stimulus I I I’ve got to say like because because I think Trump has been sort of mentioning
I think after the last fomc meeting he said uh he said oh you know it’d be a good idea to drop
interest rates lowering interest rates would be good and I really do think Jerome Powell will have
to be you know will do that over his dead body do you know what I mean I think he’s determined
that he won’t drop you know he just does not want to see inflation rear back up again because
remember back in the 70s the second B of inflation that’s the killer yeah so whoever is going it’s
either Jerome or whoever Trump gets after that to turn on the Taps I mean look it depends on where
inflation goes right it’s still you know still sticky but it’s not exploding yet yeah we shall
see and then of course what does this mean for the crypto markets obviously it’s been following the
M uh the stock markets recently with a correlation to NASDAQ near all-time highs of course um and um
in fact the Trump tariff threats have been pretty much pretty well broken down in this coin coin
Telegraph timeline and you can kind of map that to to all of the most recent Falls in Bitcoin right
and it’s just all been macro is macro is crypto right now um however Bitcoin is showing some signs
of strength this is according to Marcus Tian from 10x research and he says Bitcoin is attempting
to form a bottom supported by Trump’s recent shift uh toward flexibility on the upcoming
April 2nd reciprocal tariffs s softening his earlier rhetoric yeah it’s it’s going to be the
it’s going to be such an interesting thing to see over the coming months and years like if let’s
assume that these tariffs stick you know that Trump kind of see sees these through this is going
to cause such a massive I mean you talked about reshoring you mentioned reshoring earlier this is
going to cause such a massive shift in in Global Supply chains in in how things are manufactured
and where they’re manufactured and that process in the long run that process could be a positive
it could be it could definitely be a positive for for the us and it could indeed be a positive for
other markets as well but the journey to get there is probably going to be so painful because it’s
just it requires so much upheaval and it’s hard to imagine that ordinary consumers aren’t going
to be in the in the United States and elsewhere it’s hard to imagine that they aren’t going to
really suffer and and this could last for years yeah I mean it’s true but I guess it comes back to
the point around long-term I mean short-term pain long-term gain and remember it’s not just just
Trump I mean Trump is you know he’s he’s going ahead and and talking the policies but who’s
actually designing these policies some really smart people behind it um likely Scott bessent um
in terms of the strategies around you you need to get bring down fiscal spending you need to bring
down fiscal deficits you need to increase domestic oil production you need to bring you need
to bring growth to 3% and all of this stuff is going to require short-term you know upheaval
in the markets because and and like they’ve said we we willing to sacrifice that in the short
term for the longer goal Trump doesn’t have to get reelected um after his first well he he is
talking about a third which is which is frankly a bit scary anyways but yeah I mean the point is
it’s like there is going to be some upheaval in the short term and that’s why very few people have
attempted it because then they worried about oh if the stock markets continue crashing if I cause
a recession you know and that’s why you have the situation with 6% budget deficits billions going
towards more interest is spent more interest more interest payments are gone out in the US um
fiscal spending than there is on defense yeah insane yeah and and so many other economies I I
mean I think the US is is is a bit of an outlier in terms of how much debt it is and how much
it has to pay to service that but lots of other economies certainly uh Western economies are are
you know up to their eyeballs in debt as well and you think sooner or later like you know there’s
going to be a reckoning for this unless unless something happens to stop that yeah you have to
okay well food for thought there it’s going to be it’s going to be an interesting interesting few
years week month years we shall see um but if you if this backdrop hasn’t made you bearish or indeed
if you are bearish and you want to trade or you want to sell buy Bitcoin or if you feeling package
and pick up some altcoins you know uh then you could always use one of our brand Partners this is
binance um now binance we’ve got a exclusive 20% trading fee discount for life as well as a $600
bonus when you sign up and create an account with a link down in the description um so you can buy
your coins and binance and then you’ll obviously want to secure your coins in the best hardware
wallet around this is of course The Ledger devices and this is The Ledger flex and stacks and I will
point out guys that right now for the next 3 days if you buy a ledger stack or Flex using the
link down below you’ll get a now this has been increased from last week this is a $70 of Bitcoin
uh gift card uh gift card that you can load your Ledger up with after the purchase so for the next
3 days if you guys have been thinking about buying a ledger now is your opportunity exclusively only
for coin buau viewers link down below absolutely absolutely one of the best discounts you will get
on a ledger device um I’ve also done an unboxing video which you can watch over on more coin Bureau
um showed you how to set up The Ledger uh Stacks uh that one is um uh there’s also the Ledger Flex
as well so that video takes you through how to set it up what sort of features it’s got what’s in
the Box Etc um and well spoiler alert it’s very very easy to do very very simple so so uh if you
haven’t got your uh crypto secured on a hardware device yet Now’s the Time I must say gu that
was probably the best unboxing video I’ve seen in crypto you know you Linus Tech tips and unbox
therapy have got some competition man I’m telling you that much oh if the crypto thing doesn’t
work out man you can always unbox phones and stuff wow that is the most that is the most backhanded
compliment I’ve ever had look guy you know if it all go all go to the toilet maybe you could be
one of those irritating unboxing people maybe you could do it on Tik Tok thanks Nick thanks so
much yeah the Samsung Galaxy versus the iPhone let’s go do it come okay okay anyways um I’m I’m
so depressed now um let’s I want to also give a shout out to our other brand partner which is
Arkham um Arkham intelligence the premier onchain tracking tool out there um this is uh this is
Ely a tab that you need to have open exactly and obviously we’ve talked obviously you’ll be
following their Twitter account if you aren’t but um other they sometimes have information
on their dashboard that you won’t see there you won’t see them sharing for example there was
this Insight last week on this on the dashboard of a whale who bought 247 million uh dollars
on coinbase um of Bitcoin of sorry Bitcoin yes Bitcoin on coinbase could so it may not just
have been another buyer another big buyer was out there purchasing Bitcoin or it could have
just been another one of Michael sailor’s Al yeah just Al buying some Bitcoin um there was also
news that pump. fun is still depositing to Kraken exactly still extracting someone’s making money
man someone’s making money yeah um and uh should also point out that Arkham have an exchange that
is available to us users um and uh there’s a 50% trading a 50% off trading fees for the first month
uh exclusively for coin Bureau viewers there we go down below guys okay let’s now have a look at
last week’s top performers um and we’re going to start with this is a bit of a crazy one um this
is cro crypto.com exchange token cro now basically cro has pumped bigly on the news of a partnership
with Trump media and Technology Group tmtg um and B oh more crypto ETFs oh yeah man can’t wait we
just need another altcoin ETFs just bring on the altcoin ETFs man now what’s crazy about this
now I guess this pump is this is the sort of pump that you would expect on this sort of news
but what’s crazy is that uh crypto.com recently forced through um this remining of 70 billion
cro now these had been these had been burned and I put burned in inverted Commerce these had been
burned and crypto.com basically just went through you know it says forces through they I think the
community as you can imagine um were not really in in favor of this uh but they did it anyway um
and what’s Wild is that you can see the effect of that of that remint on the chart you know it
cro did take a dip but it’s nothing compared to the pump that it got from this tmtg partnership
yeah man if it look suspicious to you then that’s probably because it is suspicious I don’t know
what’s going on with the Dynamics behind the the prum the pump there man that seems inorganic then
maybe Zack xbt was was pretty scathing about it as well um he tweeted do we have Zack X PT’s tweet
there um yeah your team just reissued 70 billion cro a week ago that was previously burned forever
in 2021 no it wasn’t burned the the definition of burned burned has changed yes yes we’re redefining
what burned actually means um okay so that is uh cro that was the top Gainer of this week tells
you a lot about the kind of Market we’re in at the moment next up we have uh zcash yeah this is
weird um it was possibly caused by a tweak to the toomics the network sustainability mechanism or
NSM introduces voluntary deflationary actions like burning Z to fund future block rewards so
it’s interesting because Z is like um monero’s also been crush it recently right yeah privacy
coins have been crushed you know I think I have a theory that for this potentially because of the
fact that the treasury took off the um tornado cast sanctions yes and it potentially could mean
that um the utility of privacy is important again and if um with a pro crypto regulatory regime you
can’t you know how can you be restricting Monero like listing on exchanges or say take issues with
Monero if you’re okay with the tornado Cash Smart contract so potentially that could be it yeah yeah
and and and I think as other people have pointed out before as well you know instit obviously the
great one of the great things about the blockchain is that it’s transparent and stuff like that
but you know institutions aren’t all that Keen or or rather than saying aren’t all that Keen on
transparency are pretty keen on privacy yeah of course if you’re moving that amount of money
um so yeah you can imagine that there will be if regulations allow um which is possible under
this new Administration then privacy coins could be you know could be about to see even more uh of
an explosion and yeah as as that tweet said Monero has also been sort of quietly crushing it another
thing that’s been quietly crushing it is uh is a blast from the past I hav when did they change
the logo first of all was that before the the logo to Chang to vter uh yes the logo changed a few
sort of couple of months ago I think about then so they changed the logo they’re like actually we
know this is not working let’s change the whole name entirely as well yeah so this is uh EOS which
recently rebranded to volter um it’s something to do with web 3 banking apparently um so uh yes this
is uh this is obviously EOS as you’ll remember um the highest Ico raise ever over $4 billion lasted
a whole year um and the EOS blockchain well hasn’t uh EOS hasn’t been great for Eos holders um but it
has worked out just fine for Brendan Bloomer the CEO of block one which is a sort of parent company
behind EOS uh Brendan congratulations to him has just bought a 170 million Villa is that that Villa
must probably be worth more than the entire market cap of volter well the crazy thing is it might
not even be like I I think VTA or I refused to call it VTA EOS still has um a pretty insane
market cap for given given what it is or what it is um but yeah this was the largest highest
value transaction in the history of Italian real estate oh bro so congratulations I me he played
and to be honest he’s they EOS settled with the SEC 25 million and they the bag that they took
in Block one yeah well they they bought Bitcoin they bought Bitcoin exactly yeah yeah which
is now worth bil billions billions billions 15 billion or something crazy right yeah okay so
that was eos uh next up um this one again this this appeared in last week’s top performance this
is for um the ticker is form um again this is this sort of rebranded um uh rebranded crypto is now a
sort of game fire platform I I couldn’t I couldn’t figure out why it’s been pumping um so uh yeah
it’s a mystery it shall remain a mystery it’s a mystery one of those things um and finally in the
uh top gam it’s this one this is core now this is a Bitcoin staking protocol interesting yeah um I
think this is probably yeah a lot of excitement around Bitcoin staking in general note that some
of the biggest I don’t know what the tvl on this one is probably lower than um Babylon right which
is up right now which still hasn’t hit a tge at all yeah and so I think the thing with core is
that it’s the only live staking protocol well live in the sense of the token is life yeah yeah
yeah yeah so that’s it does suggest that there is that there is a fairly high demand for staking BTC
um which I suppose in this sort of Market maybe a lot of people are thinking yeah just get some
yield yep y yeah tweets of the week guys let’s grow okay tweets of the week let’s start off
then uh with uh this one here from who have we got Financial uh this is from one sec just pop
it up there we go yeah that’s been us for the past two two months guys just lying there in
bed the notifications of all of the financial the fin twit tweets coming through oh yes yes
there we go that’s that’s just how it feels at the moment lying lying awake at night thinking of
thinking of crypto just Trump yeah just what you know and also the not all the Trump notification
tariff here tariff there tariff everywhere next tweet okay this is this is a [ __ ] post uh par
Excellence from uh from mert Big figure in the salana ecosystem after suspicious Market activity
the salana validator set has convened and voted to disable all sell orders for the soul token details
will be shared shortly in the network will come out stronger as a result of this obviously this is
a uh this is a hit at hyid yeah yeah to be clear guys that cannot be done and it wasn’t done in
case you were one just just he wasn’t sharing Al yeah um yeah great ship post from mert there
next up this one from intern um uh yes being legal shadowy super coders was cooler than being
US Government endorsed industry particip yeah it’s not cool anymore you go to the bar you tell people
yeah I me crypto Oh you mean like those suits in Washington boring yeah I thought you were illegal
I thought you were a bad boy did you buy the ETF okay and we also have this one now we included
this one uh which was one of our tweets because we thought this was an interesting little survey
um uh the results so we asked you Trump’s tariffs are coming this week what’s your bitcoin price
prediction for the first month of Q2 so what’s your price prediction for April yeah it’s crazy um
and yeah over half of you are bearish um over half of respondents were bearish below 80k I’m I’m
just amazed that almost 15% were that bullish above 100K by distribution the distribution is
that way because the tals are um this upside and downside risks I mean it’s a situation of um
you never know what Trump could come out and do I think it’s likely potentially in between the
80 to 100K range maybe more on the side of above 90k see okay so you’re quite you’re quite bullish
quite bullish man yeah okay all right uh Nick do you want to take us through some coins to watch so
today is an important day it’s the launch of the guns token now if you guys don’t know what guns
is this is basically uh the token for the gonzilla games which is of course the Creator behind the
Off the Grid uh Battle Royale shooter which you actually we actually you did a video on last week
you played it to really really interesting game right it yeah and they it’s been it’s been taken
on board uh by a lot of web two streamers as well gaming streamers and it’s a very exciting game
and now of course is the launch of the you know native token the utility token the guns tokens as
well as the nfts and it’s going to be on avalan subnet and that’s going live uh soon so that’s a
you know it’s be interesting to see I think it’s definitely the biggest game fire launch of this
year so far yeah yeah be interesting to see how that does yeah I should of course mention that
we also invested in in off the Godzilla tokens and Off the Grid yeah um and then today on March
31st as well binance is to delist a whole bunch of stable coins that are nonic compliant for trading
pairs for European users for to be clear right so this is you know the likes of tether all of that
stuff yeah so if you are a crypto user in Europe it is worth checking which which uh stable coins
binance will be delisting yeah um because because yeah of those very stringent uh mic rules yeah
okay and um we also H coins to watch there’s also a massive unlock coming this we a massive unlock
47% of circulating Supply Wormhole crazy yeah so that’s definitely not that’s not a win that’s
an an L for the for the potential price impact well I don’t know it’s obviously going to it’s
not going to investors it’s going to ecosystem and core contributors nodes but it’s obviously
a lot of Supply coming on the market so you know it could have potentially have been priced in but
I would be cautious of dipping in right now maybe wait until after the ual unlock itself if you are
bullish on interoperable Wormhole protocol yeah okay uh so some dates for the diary as well yep
as you mentioned April 2nd that’s Liberation day set the calendars guys you know um and then April
4th is really big day from an economic standpoint because we’ve got the NFP nonfarm payrolls 140k
is expected versus 151k which is previous and then we’ve also got unemployment data um which
is 4.1% versus expect it’s 4.1% expected and 4.1% previous um so that’s obviously very important
from the perspective of fed policy you know one of the uh mandates of the Dual mandate employment
yeah okay so as ever lots of data to look out to look out for um I just want to scroll uh through
some of the comments we’ve been having as well it’s good good comment game going up like I say
people are people are generally more chipper than the market would suggest which is excellent to
see um keep’s format was asking we missed guys cousin and Barry I hope he’s okay um I’ll send
him your best wishes um Brett you you weren’t quite right there Barry didn’t die in a knife
fight they didn’t steal his ker I presume K I don’t know what his k k is that some like a um
you know Cockney term for something I think it might be I think it might be um I can confirm that
Barry was involved in a knife fight uh and that is all I can say at the moment um but yeah I’m sure
he appreciates appreciates good wishes um okay lots of comments about your uh about your suit
Nick oh man come on so I be wearing a suit aw just elicit I should just the Vol I should just
come and like constantly mix it up every single week because then people will it will obviously
list a lot of reactions and responses and comments and that so what people enjoying it people are
enjoying it they say you look very sharp um yeah you go I’m not always wearing shorts you know I
can it’s just cuz he just cuz he most of the time he looks like he’s just wandered in off the beach
suddenly puts on a short and a shirt and a suit and he’s Patrick baitman okay fine fine um crypto
bellweather uh has an interesting take here the hyper Trader is a genius and you have to account
for that he manipulated within the rules and if nothing else hyper is the criminal manipulator
well like we said earlier he was the trades were in the rules of the protocol it’s the it’s the
manipulation that was happening off hyper liquid that was the that was the criminal element to it
yeah the intent was to basically yeah I mean we’ll have to see I think it’s like a matter of yeah
the offchain trades right specifically created in order to um get this into into liquidation
and knowing that the liquidation would have to be taken over by the hlp um it to be really
interesting if ever this gets to court because I don’t know there may be some sort of defenses who
who knows um because uh but it’s it’s a difficult one yeah crypto bellweather I get the impression
you’re very much a cod’s law person um which you have to respect uh Costa is asking when does
the printer go not some time unfortunately yeah I think we first have to finish the QT which
is coming soon and then it will have to rates will have to continue dropping to to close to zero
before any sort of QE um and we only expecting another two racis another 50 basis points or two
rate Cuts this year before we get to the end of this year so QE potentially not even this year but
who knows what happens with the economy right of course yeah I think the only the only way we get
QE anytime soon is if we have an absolutely brutal recession so be care be careful or what you wish
for Costa uh it’s Ray says Bitcoin heading to 70k before 90k quite possible it’s possible it’s
possible yeah um okay uh steady buug is very much uh very much on the side of the US the US
basically insured World dominance for the next 20 years we will take some pain to screw everyone
else I well I think that’s that certainly seems to be the plan that is the plan that is exactly the
plan it’s it’s in the been talken talked about by his his chief economic advisor yeah he wrote
a paper on this yeah I guess I guess it kind of depends what China uh what China’s going
to make of that yeah the one trump card that that China could pull beautiful is um dumping us
treasuries yes because that would obviously send yield spiking and that would go counter to Trump’s
plan of um you know bringing down interest rates yeah they’ve also they’ve also built a lot of big
scary weapons as well that is true yeah China yeah yeah and big world’s biggest commercial Fleet
that can be quickly repurposed into yeah Naval Naval stuff yeah yeah if you I I don’t want to go
off on too much of a tangent here but if you get into the weeds of kind of what China is building
its industrial base in terms of all the military stuff that it’s building it does kind of keep you
up at night a little bit it is it is kind of scary um what they’re working on um philli says this is
so easy you guys just got to hang on for a couple more weeks oh we can do that we can do that couple
more weeks Philip is bullish um I love the fact that whenever Monera gets mentioned um the uh the
XMR Bulls come out of the woodwork XMR is the real Bitcoin it is the real private permissionless
digital cash that Bitcoin was always meant to be unfortunately now Michael um someone was saying
earlier 70k before 90k altcoin are hoping for 70k because they lost so much money but 70k will not
happen 100K next look at this bullishness yes yeah we go man love it yeah um JC for Life says says
oh wow Nick looks so sharp oh God’s sake keep up the classy wardrobe guy get it together thank you
gr appreciate it how many alt accounts does Nick have and who is operating them um Marcelo says
uh crypto Market crashing below 80k Nick not in shorts anymore seriously God I haven’t been
plunged enough so what you want you like the suit you want the shorts back look I’m bringing
the shorts what’s wrong um and uh Jonas says uh bull market is over no I don’t believe that
man definitely not okay well that’s good to know that’s good to know um so I must say apart
from Jonas um it’s I’m I’m very pleased to see the positivity in the comments I must say like
it you like keep your head up guys I like it man yeah keep keep calm and huddle on keep calm and
huddle on uh Drew says hang on I want to bring this one up we might as well make it all about
Nick might we Nick is ba ba there we are there we go there we are thank you bro appreciate it
man Drew you man man you’re a man um and we’ve got a really bullish uh really bullish one here
um see you in September in 160k wow if we get to 160k can you wear can will you wear like some sort
of gold suit perhaps we’re full on TXS you know um what else you know salvator farama perfectly
you know suited there we are every every reason every reason to Hope Bitcoin goes to 100K all
right folks thank you very much for tuning in uh it’s been great to see you um it’s not the best
week for crypto but it’s good to see so many of you in such a positive frame of mind it could be
a lot better next week and we will of course be back with another episode of the coin Bureau News
live have a great week guys cheers see you [Music] [Applause] then happy birth you lovely people go
and tigers people thinkig gu fad here fil not fad guy has become a father father guy has
become a father TR good [Music] show good show I have become a father B give us just good show good show good show good show oh [Music]
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