Bitcoin Reclaims $90k: Have We Bottomed?
Episode publishedPodcast: 1000X1000X
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What's up Jonah?
Hey Avi, how you I'm
good. I'm really good today because the markets are really good today and you know, it always, it always lifts your mood, right? When you see a smattering of green as opposed to the blood bath of red.
Yeah, I got a little scared last night. I'm not gonna lie. I'm normally pretty even keeled, but I started to panic a little bit. Not enough to sell, but just like, oh, man, how bad is December gonna be? How much volatility am I gonna have to ride? How stupid am I gonna feel not selling now after it goes down another 20%? I could have bought there. But, I didn't sell.
I mean, basically the thing that made me really happy to be completely honest is that by the end of the day, by like Monday evening, we had retraced from that 84,000 level. Like we had bounced off of it. And now when you look at the charts, I mean, look really good. And why do I say this? Just as a trader, generally you tend to bottom when the selling stops, not when the buying begins. And it looks like at least now, especially if we can hold this level here, you got, you sort of got the last bit of panic sellers out of the market. Like if you go to a daily chart and you look at the volume, on
Yeah, no, it all makes sense. Brought up a lot of interesting points that I was kind of looking through on the charts while you were talking. I mean, I think the big thing that happened, yeah, I love your phrasing of how like the bear market stops when the selling is exhausted, not when like white knight buyers just step in to save us all. There's a lot of fear and doubt out there, particularly around strategy, Sailor and Co. But the selling, let's talk about the selling that stopped because that I think is the most relevant thing to your point. Funding flipped negative right around Thanksgivi
No. Tell me about it.
So basically, Donald Trump so Jerome Powell's term is up on May 26. And one second, let me just pull up the poly market so I can share the screen here. So Trump announced that he has selected a new Fed chair. Like he said, the decision is made. And so I just you know, looking at Polymarket here, as soon as he announced that, this Kevin Hassett guy, you know, the previous most probable outcome was no announcement by December 31. But then as soon as he basically said he's made his decision, the probability of that dropped down to 20%, and it's Kevin Hassett guy goes up to 70%. So we all know tha
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