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Market Talk- What’s next for the markets!? Bitcoin, Macro, alts,Stocks
Recorded: April 30, 2025 Duration: 1:04:49Space Recording
Short Summary
In a lively discussion, crypto enthusiasts explored the current market dynamics, highlighting trends in altcoins, the potential for growth in BTC and ETH, and the impact of upcoming events like the FOMC meeting. The conversation underscored the optimism surrounding emerging tokens and the overall resilience of the crypto market despite recent declines.
Full Transcription
Thank you. Thank you. Thank you. Thank you. . I'm sorry. I'm sorry. I'm sorry.
I'm sorry.
I'm sorry.
I'm sorry.
I'm sorry.
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I'm sorry.
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I'm sorry.
I'm sorry.
I'm sorry. I'm going to do this.
I'm going to do this.
I'm going to do this.
I'm going. Nice.
I'm distracted.
Nice.
I'm distracted.
I'm distracted.
I'm distracted.
I'm distracted.
I'm distracted.
I'm distracted.
I'm distracted.
I'm distracted. I'm distracted. Okay. I'm going to go. Oh I'm so sorry. Oh, my God. what is going on guys welcome back to the show welcome back hope you're all doing great
bit of a flat day on the markets uh pretty interesting what i'm seeing on farcoin though
on the four hour looks like um we're very close to breaking out very very close to breaking out
hype also at range highs a bit of a nothing burger today on the price action and equities. SPX has just really been hanging
around the 5,500-ish mark for the entire week. We had Microsoft report earnings today. They beat.
And man, I think we're in a pretty interesting state in the market right now. We have
some new runners on sold blasting through 100 100 mil uh and you know i'm
sort of starting to see a trend here um with these markets anytime btc starts to uh you know
go towards range highs which in my opinion is probably going to be towards 100k you typically
start seeing some runners very very very eerily familiar to when btc started going to
its previous range high around this time last year of 65 to 70k we would start to see some runners
right in q2 of last year we had things like brett we had things like retardio giga muumu stuff like
that and most of the activity was uh on soul we're kind of seeing the same thing right
now but some ai stuff on base like virtuals is up like 300 over the last couple of weeks
and you know i i do think um this rally that we're seeing on all coins is going to continue
to surprise people truthfully especially if we do get some confluence on the S&P and the NASDAQ to flip their yearly open.
I think the S&P has about 6% from here to go to test its yearly open, the NASDAQ probably a little bit more.
But we do have some names like MicroStrategy well above the really open as well as uh some things like hood
above the really open as well and those two stocks have been indicative of um how far on the risk
curve people are willing to go as far as um really tech in general right 2023 was the NVIDIA story. 2024 was the MicroStrategy story. And now 2025 could potentially be something like HUD, right?
If crypto actually does manage to go into price discovery, I think you could see HUD
go into price discovery before you see the NASDAQ going into price discovery, as crazy
Asdaq going into price discovery, as crazy as it may sound, right?
as it may sound, right?
You could actually see a stock picker's market while the larger indices try to find their footing, right?
Typically, whenever you see the indices pull back 20-plus percent, as they did,
it usually takes a couple of months for them to get back above their levels. So it's been about three weeks-ish since the equity markets have bottomed out completely.
And so I think at the earliest, you can probably see the S&P test 6,000 potentially by June
6,000 potentially by June during that FOMC meeting.
during that FOMC meeting.
We do have the FOMC meeting next week on Thursday or Friday, I believe.
And I think if we actually do start to see some dovish comments on Powell, and I think
he has to talk some dovishness into the market, especially with all volatility that's been
going on in the markets these last
couple of weeks, right?
We're talking about the most vicious drawdown in the equity markets in decades, right?
$6,100 and change all the way down to $4,800 is essentially a bear market.
And most of the assets in the crypto and the crypto space went through 2022-style corrections within six to seven weeks.
You look at something like Ethereum, which you guys know personally, it's not really
something I actually like to give credence to as far as alpha and the broader markets.
I think things like Sol and Sui are more indicative of like broader alt strength, honestly, or how things are going to play out on chain.
But ETH went through a correction very similar to what BNB did in 2022.
BNB marked down from about 630, 640 down to just below 300, I think like 250, something like that.
And ETH corrected from 4200 all the way down to
1300 very similar style corrections right uh except east did a speed run uh for that correction
and solana nearly got halved twice and went from 300 bucks all the way down to $90. And many people that were calling the meme coin super cycle started to load shorts on
Sol, talking about how it's now a good idea to be careful and weary of the markets after
such a brutal drawdown on the equity markets.
And yes, even though this market could decouple from equities, there is still some sort
of correlation to pay attention to, right? Like if crypto is at a quote unquote must hold support
level, but the indices have drawn down over 20%, it's probably a good idea to start getting yourself exposed towards some risk, right?
When BTC tested 73K and change a couple of weeks back, when ETH was at $1,300, when SOL
was at $90, we were at quote-unquote must-hold levels.
If those levels broke down, my goodness, man, things would be an absolute dead zone right now.
We'd probably be accumulating and things would not have had this wild swings to the upside that we've experienced on some of these ults over the last couple of weeks.
But what happened?
We saw the SPX retest its prior all-time high, which was at $4,800.
I think that was the high that it set
in January of 2022, December of 2021. And of course, we saw MegaCap Tech also go through
2022 style corrections, things like Apple, things like Google, things like apple things like google things like microsoft and i
i'm rather we saw how massive this tariff situation was um everyone and their mother was
talking about it people that were just basic content creators were talking about it people
that never talk about the stock market were talking about a recession, right? You essentially saw so much mindshare on this tariff situation where if you
were to reverse it towards a bullish degree, I think it was towards the same amount of when people
were talking about Doge. People were talking about tariffs just as much as they were talking about doge and now it's like where's all the tariff stuff now right that narrative is kind of simmered down um you
had scott the scent talking about how the vix is topped and the s p has rallied quite a bit
um since the scent said that right they're now backing off of all tariffs.
Now, of course, it's going to take some time
for the equity markets to fully digest this,
but we, for the most part, trade crypto, right?
Like, yes, it's important to trade stocks,
but if you deviate so much from the market
that you play in with most of your capital,
you eventually become a doomer because
the equity markets they always have this narrative of oh it's completely over oh it's completely back
every five percent pump it's you know s p to 10k every five percent pullbackback, here comes 2008 again. Robert Kiyosaki pulls out his doom fractals and it's completely over.
And honestly, for our generation, for Gen Z and millennials, there's truly no better
market to get exposure to, to realize capital gains than the crypto markets.
Total crypto market cap isn't even valued as
much as Apple stock. And when we look at some of the rallies that we've had over the last couple
of months, like gold, where a 10% move on gold would equate to trillions of dollars,
I think on a longer time horizon, this asset class has much, much more room to grow.
And of course, in between, there'll be many bear markets, many bull markets.
But the ultimate trade at the end of the day is BTC flipping gold, which I personally think
happens in the next 10 years or so.
Some people think two, some people think three. I think
we have to expand our time horizons a bit more than that. Probably by the next round of QE,
you actually see BTC get within like 80% of gold's market cap, in my opinion. But that's kind of my
opening statements, guys. I i've got prometheus up here
i have chill up here we'll have donnie back uh on friday he's still recovering from uh from his flu
so we're gonna do our best guys and uh as we always do and uh rant and banter about all things
markets over the next 45 minutes or so i I do have to keep today's show, unfortunately, under an hour,
given that I am currently moving right now,
and I have to paint an entire apartment by myself.
So thankfully, I don't really have that much more to go.
Most of my stuff is already hauled out of here.
But it's been a long time coming, guys.
Really grateful for everything that's happened in my life over the last couple of years.
And I want to thank each and every one of you guys that tune into these spaces day in and day out.
And whether you're listening live live whether you're listening to the
recording i want to thank all of you that support us here at because bitcoin whether you've been
tuning in over the last days weeks months or have been with us since the very beginning all those
years ago i want to thank you off the bottom of my heart and just show some gratitude but guys
before i officially pass the mic before i officially pass the mic and we start yapping about all things markets, you guys can go ahead and show some love and support to the space.
And the best way to do that, guys, is through a number of things that don't really take that much effort to do.
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help us push out the algorithm.
So without further ado, this is Wabi bringing you Market Talk by Because Bitcoin.
And we're going to go and uh yap about markets so
man i kind of want to start off first and more on a more chill note right so chill what's going
on man thanks for coming uh thanks for coming back up um and it really seems like we're uh
at the calm before the storm, man, doesn't it?
Man, I saw, I couldn't agree more.
I saw a chart.
I think it was Mercury was the one who posted this.
And for anyone who isn't familiar, you guys should definitely go follow him.
But he comes on these spaces every so often. And Mercury, he posted a chart of basically that kind of chop that we experienced last year and the chop that we experienced so far this year.
And he put both and it just put everything into perspective.
But, you know, I've been of the I've been thinking that we're going toward all time highs. That's basically been my base
case here for the over the next, you know, you know, a month or two in the summer, you know,
I think, you know, for those selling in May and going away, it'll be max pain for them. So as long
as we, you know, stay attached to markets and just kind of keep up with what what's going on,
we should be the beneficiaries of that kind of move. But man,
it does feel like it's a calm before the storm. It does feel like, you know, we're about to,
you know, absolutely rip face. And who knows when that will happen, you know, if it'll be,
you know, next week, next month, or in June or wherever. But,, the important thing is just kind of hanging on right
now and just being patient, allowing the market to come to us. In the meantime, man, I've been
doing a lot of, I've been doing some trading on Solana. It's been a really, really fun time.
We caught some good runners on the utility side. We caught a couple of good runners on the
meme side. And I mean, I don't get too emotional about what I trade. I just recognize that all
these tokens, whether they have value, whether we think that they have value or not, they're
going to go up, they're going to go down. And if you have the proper framework, you can catch some
of that upside. And if you're able to take profits and you're able to, you know,
just have some extra free capital to DCA into, you know, things that you actually believe in,
things that you feel like, you know, are really valuable. And that's exactly what we've been,
we've been doing, man. I mean, you know, we caught, we caught a lot of, you know, we accumulated a lot
of our bags during the prior downturn and dude, I'm excited. I feel really grateful to be able to
trade in these markets and, you know, be able to, you know, click a few buttons on the screen. And, and that will, that's basically, you know,
what I, what I do full time. I just, it's just, you know, all of us, we know that sometimes we
miss things. We're in this market, we're speculating on things all day. And, you know,
we're saying this will go that way, that will go this way. But ultimately, like when we just kind
of like step back and realize that we're literally trading in crypto, it's and we should just be grateful to have the opportunity to do this.
Because number one, not many people are aware of the long term upside.
that they aren't even aware of, certain opportunities on chain, certain, you know,
tech that's being built, certain where value is being created right now. There's so much
opportunity in this space and it's opportunity that not everyone has. So, you know, I am grateful
for it and man, I'm looking forward to, to summertime. I think, you know, we basically,
I think we're going to have a really good time. I think it's going to
be really fun. There's going to be a lot of runners. For anyone that trades on chain,
develop your framework, get some experience, get some practice in. Get the do's and don'ts down
and just continue to lock in and enjoy the gains ahead, man.
It's going to be really nice.
BTC is looking strong despite all the bearish headlines.
You know, I'm seeing ETH looking like it wants to go higher.
I'm seeing Solana, you know, bounce off,
get a good reaction around the 143 level.
I mean, look, everything, everything is positioned.
Everything is looking good.
You know, at this point, it's just a matter of waiting for, you know,
prices to develop and then for us to actually realize that upside.
And what's this thing about, Prometheus? I got to ask you this, man.
What's this thing about trucking being a indicator of a recession, man?
Because I'm texting Joe right now and he's sending me a multitude of messages saying how empty shelves, trucking layoffs lead to a summer recession in Apollo's shocking trade fight timeline.
That's a headline from CNBC.
I mean, if CNBC is saying anything, it's usually a gigafade.
I mean, there's not much else to be said.
I mean, there's not much else to be said, but I mean, trucking essentially is just a framework of viewing how like the demand and how like the companies and grocery stores are able to essentially move product and are restocking inventory.
There's lots of orders.
It's essentially a way to view how strong the consumer may be and whether or not they're buying things.
So that's it.
I don't know how that would apply to people aping into the indices on leverage or buying stocks yeah I
remember the narrative in in 23 how like Europe is freezing and a few other
things as well that I won't mention but like why is it that all these headlines
man they always come out anytime the market is either choppy or down 20 plus percent?
Because, dude, I remember very, very, very, very clearly how the entire way down from 6,100, I think we had like a mini double top.
From the January high and February high, we essentially did like a mini double top from the January high and February high.
We essentially did like a mini double top into distribution.
And the entire way down was, oh, man, dude, don't worry.
Like Trump is bullish for markets.
Trump is omega bullish for markets.
Just you wait.
The Trump economy is coming.
The Trump economic boom is coming.
And then within like a week or a couple
of days before that low was set, that is when, you know, almost every single analyst on this website
wanted to give some caution. And now Ray Dalio puts out a blog post and Ray Dalio has mostly been a fade for a really long time now.
He is collecting management fees from Bridgewater.
And I really don't see the alpha in Ray Dalio giving any sort of talking points to things like tariffs.
any sort of talking points to things like tariffs.
And if anything, right, like this narrative that tariffs cause
would just cause global markets to outperform SPX, right?
It's basically like long China, long Japan, short U.S. stocks,
which actually worked for the majority of 2017 up until September.
You had broader markets outperform America until Q4 of 2017 during Trump's first term.
And of course, there was some trading discussions going on at that time.
discussions going on at that time but you know again like you have such a quick drawdown
on the indices in such a short period of time that you know the least path of resistance still
remains to the upside in my opinion yeah i think that's something that a lot of people fail to
recognize with the dynamics of the underlying market is like they're going to prop this Ponzi up until like as much as they can.
And true bear markets only happen when something like breaks.
Right. And it's it's really, really, really hard to be bearish in these markets when, you know, the largest entity in
the world is backing it, right? And they are backing it so much so that they literally won't
let it go down like more than 20% without financial, you know, without some sort of
intervention, you know. So it's kind of interesting, you know, I mentioned it on the
afternoon discord call and I mentioned it in spaces before, you know, you're, there are cracks
in the foundation. There are cracks that are showing, you know, things are weakening, things
are slowing. Um, but that does not mean that we can't see a, you know a window of strength here.
And how glorious would it be,
especially after the last three years,
for us to have a bullish summer?
I mean, the past three summers
have been so unbelievably horrendous
that it's, I mean, people are scarred.
Even when we were in like November and December,
people were talking about selling may go away. So at some point, you know, just from the simple,
you know, mean reverting, like a mean reverting, I don't know, nature, or, you know, from just a
probability standpoint, at some point, we got a mean revert and have a bullish summer,'t know, nature or, you know, from just a probability standpoint, at some point we got to
mean revert and have a bullish summer, you know, uh, and it would be pretty glorious, you know,
at least from my perspective to be on vacation, you know, summers are a time where I like to step
away from the markets, uh, but to be able to step away and not have it in the back of my mind that the markets are
blowing up in some fashion, that's something that I personally am not used to. Usually when I travel
or I'm celebrating events, whether that be US holidays or birthdays, there's usually some form
of garbage PA surrounding them. So to have that dynamic shift would be pretty awesome, I will say.
And I do think that a lot of these – I want to congratulate Chilla actually on the house coin, by the way, man.
Absolute killer, killer trade there by you.
killer, killer trade there by you. But I do think that if you are in some of the stronger names or
some of the names that have showed strength off the floor, I think you're going to do just fine
capturing any potential upside that there may be in the market specifically. So a lot of people
have talked that we need Ethereum to really show some form of
strength in bullish price action to see you know a quote-unquote alt season now i don't
really think necessarily for the remainder of the cycle that you see any form of framework of an
alt season that we saw last cycle but you know those stronger names are going to lead regardless and and i don't
at this point i don't think you need ethereum to do jack doodly shit um and if you're in a
strong name you're going to be just fine
hey for me do you think uh eth makes an all-time high in the next eight months bro
it's so hard it's so hard to say because i mean remember like last week when there was that
uh like troll post put out about vitalik saying you know the uh eth foundation will stop dumping
will stop dumping ethereum when everybody stops complaining about price.
The sad...
He tweeted it out.
I'm pretty sure he tweeted that out
and deleted it in like three seconds.
Okay, I didn't know if he actually tweeted it out or not.
And whether he did or not,
like the sad thing is everybody,
even like the sad thing is,
is if he didn't,
everybody like believes that he would be
capable of something like that so i mean vitalik's a cuck they need to get him on some testosterone
supplements you know he needs he needs they need to remove him from the buttons and they need to
you know a strong leadership to step in and really guide Ethereum and bring it back to glory.
Because, I mean, what we've seen is a real degradation of the leadership when it comes to Ethereum.
when it comes to Ethereum. And another big thing that I think could really right the ship
in the right direction would be finding some way to capture some of these fees,
these layer twos, these fees from the layer twos that are built on Ethereum,
because that's one of the biggest issues that I think Ethereum has from, you know,
that I think Ethereum has from, you know, revenue generating standpoint is they pass up on so much
potential, you know, revenue that could aid them and could aid price, you know, I mean,
whether or not it goes to new all time highs, I think is, I think is kind of irrelevant at this
point. But it could.
It's just going to be one of those things
like you got to see just a change
of the dynamic structure of one,
how the market perceives it.
Two, you got to incentivize people to come back.
And three, you know,
you know, the ETH Foundation's got some work to do.
the ETH Foundation has got some work to do.
I think that's why we have Farcoin.
Yeah, I mean, the issue is they have a really socialist view on,
like, they're just all socialist.
And that, in a capital market, is never going to succeed.
Like, that is, like, the the biggest hindrance in my opinion.
Yeah.
Yeah.
That's facts, man. Some of the stuff that vitalik has said has just been like
completely disgusting i think there's just too much reliance um on vitalik to be honest and
eth at this point is almost 12 years old like eth had uh actually no 10 years old excuse me the ICO was in August of 2014
and I think TGE was in the summer of 2015 so it's been 10 years almost since ETH has been a traded
asset and it's still reliant on Vitalik you know and vitalik like some of the stuff that
he comments on has been ridiculous and all the layer twos have cannibalized ethereum more than
people want i mean all that matters like i get we clown on vitalik a lot but really all that matters, like I get we clown on Vitalik a lot, but really all that matters is they find a way to bring people back on chain.
And whether that's organically or inorganically, it does not matter.
But there just needs to be that incentivization.
Do you think he has the power to scam pump maybe like three new alts to 200 or 300 mil?
Do you think Vitalik would do something like that, man?
Scam pump what?
Scam pump what?
Basically what the guys from Solana did, right?
If we look at Bonk, people forget that Bonk was a token uh created by the solana foundation and they sent this thing
to like 200 mil off the lows of uh 2022 and then of course we all know what happened um the following following year in late 23 early 24 when bonk set to billions right so like my my my theory right if
i want to talk bullish about eth we need something like that to happen we need a pepe 2.0 basically
like and it just can't be a meme i think eth right now is just so focused on memes
champion meme i think eth right now is just so focused on memes that every top that eth has had
where it hits 4100 4k bro that's just the market though like really yeah you know it needs more
than that man i think it actually needs more than that like you know i've been bullish soul for the
entirety of the market cycle since like eight bucks, nine bucks,
10 bucks. And every top that soul has had has been more than just memes, right? March of 24
was the whiff top. And then in Q1 of this year, it was the AI top, whether it's ETH, every single,
every single top has always been the same, the same like three, four tickers again and again and again.
And I understand there are some things on base, but we actually need some cool shit to launch on ETH that makes people believe in tech and fundamentals.
As ridiculous as that sounds, right?
Just as that sounds, right?
Maybe like Akita, right?
Maybe like Akita, right?
Like Akita on mainnet would get people so riled up, so fired up for bullishness on ETH.
I get really exhausted trying to find ways of like trying to get myself out of this nihilistic or doomer mentality about ETH, right?
Like, dude, we're coming on 100K BTC and ETH isn't even at 2K.
That is, like, if you were to tell somebody that in January of 2018,
when ETH was trading at 1,400, that when BTC marks up, you know,
4X from here in the next seven years seven years eth isn't even going to be
at 2k right that that is that yeah it's pretty bad yeah yeah um but i think more than anything man
like if we want to look past that we just have to look at small caps.
Things like IW, I'm going into price discovery.
That's really the only bullish thing that I can come up with, man.
But what are your thoughts on Soul here, man?
I think Soul looks pretty good.
I talked about it in the afternoon Discord call with the guys and girls.
And I mean, structurally, it looks a lot more sound than Ethereum, right?
We did break above.
Let me pull up the chart here real quick.
We did break above that.
Oh, God.
Here, one sec. Pull up the chart. Computer's loading. We did break above
the high that we set at the end of March at 145 to me. We're coming back and we're retesting it,
structural retest, flipping resistance into support. And I really think that if you can get above like 154, it's basically a straight shot
to, you know, about 180 and then we'll reassess there. And if you can get above 180 on Solana,
then I mean, it's pretty safe to say that, I mean, new all time highs are on the board.
say that, I mean, new all-time highs are on the board. I get that we don't have the whole,
you know, there isn't like pump fun mania, you know, everybody's like passing the needle.
But at the same time, like it's just been the place to go. It's been the thing to bid. It's
been the name that's on everybody's mind. And I don't really think there's much more else to say than
that. It doesn't matter how it captures Mindshare. All that matters is that it has it.
We just keep it as simple as that. And Solana looks pretty decent. Like I said, we did break
above that high.
That was now potentially flipping it into bullish market.
We're now potentially flipping back to bullish market structure. So it looks pretty good, man.
And if it leads, I'm completely fine with that because that means the rest of the altcoin market does extremely well.
So that's kind of how i'm viewing it right
just keep it simple stupid yeah i like to apply that same method as well man keep it simple stupid
i just like pulling out the daily emas and weekly emas and that's pretty much it man um yeah chill did talk about house coin man i uh
i also mentioned it on the discord at like 30 mil after ansem uh i think ansem tweeted about it
uh i think he made a post it's sort of like mimicking or copying the bravado from the early SPX 6900 people, right?
Where it's like, oh, SPX 6900 is a tokenized stock market programmed to flip the $20 trillion
market cap of the US stock market, yadaada yada yada spx cc 900 and
ansem basically did like a copy pasta of that but with real estate and house coin um as ridiculous
as it sounds man like i understand like it doesn't really have crazy memetics like previous memes
just the fact that like we're able to get nine
figure runners without them being these runners that like do these two three-day pumping dumps
and they're all gone i think is honestly pretty bullish man i mean if we take a look if you
remember remember libra remember melania oh my god libra yeah they lasted for 24 hours or like the the uh the african coin also like the
congo the republic of congo released the token also um i think even india launched the pump fun
it's just ridiculous and yeah i think we all you know like back then too, when the LA Vague Cabal was showing it, which by the way, they are completely in hiding now.
But yeah, I mean, when they were talking about it back then and just, I mean, complete cash grab in the markets, just disgusting behavior. But Libra was kind of the end of that, the end of that whole narrative and
little mini cycle. Do you think that Mirad's coins, and I want to preface this, like if you
are one of the holders of one of the coins that are from that cult or sector of the market,
I want to preface this
I'm not shitting on your bags, but do you Wabi do you think that those coins can you know see?
See a new all-time highs ever again
It depends if they're listed on coinbase man if it's listed on coinbase I have like a
very
difficult time because
so far this cycle and and i remember this because
um like the discord got into pepe uh at least some of us did we got into pepe
at like 5 mil 10 mil market cap and of course took profits on the way up and i remember like when it got listed on binance i was
on the phone with trader xl and then i'm like dude this thing shot up from zero to over a bill
and if anyone was active on ct at the time pepe went viral on this app at 20 to 30 mil market cap and the whole narrative with pepe was like
um the dog days are over make memes great again that was the theory that was the original like
cult of pepe that's what made me stupidly bullish on pepe and i understand like the community is a
is a bit different right now and i kind of don't like it but it's it was something that the market
needed man you know an organic meme there was no pre-sell no airdrop nothing like that and the
narrative was make memes great again the dog days are over right it was something new you didn't
have to bit another dog and it went crazy on spaces dude i was on those spaces with poly and
then when they started to get all these listings and you know you wonder to yourself like what
what's next for this thing right it got listed on binance got listed on kucoin htx all these exchanges like that was it right and then we
had the crazy rally and q4 also later on but hold on i'll finish cooking here i'll finish cooking
here and then like we saw the same thing the following year with all the ai shitters right
when zerebro ai16z all that shit griffin all that started getting listed on binance as well
that ended up marking the top right and then pepe gets listed on coinbase and robin hood and it
topped we've got listed on robin and coinbase and it topped and it's like the entire cycle for all
these on-chain tokens right there's always a significant top when it gets one listed on a ton of centralized exchanges.
But the big dog is usually Coinbase, right?
And then Robinhood, but, like, there's only...
Like, I think Bonk is listed on Robinhood.
I think.
I could be wrong.
Please bonk check me, anybody.
Yeah, but, yeah, if they're listed on a ton of SunTrash exchanges,
they could be topped.
But I do think, you know the the uh the top memes
right like pepe and all that stuff probably make an all-time high right spx makes an all-time high
all that stuff and i guess the context of the market going to the upside matters also like if
we go to zerp and kiwi bro dude yeah they're all going
to all-time high but if things remain the same like the strongest name out of that entire list
is probably spx 6900 and if it's not listed on coinbase it probably makes another all-time high
um usually like you know when everyone understands that all right we're back to risk on people
usually go to like the alpha and then the beta right just take a look at far coin far coin is
up 6x off the lows very few tokens very very very few tokens um that are low caps or mid caps have outperformed uh far coin i think the only ticker
that i can honestly think of that is outperformed far coin off of the lows has been alch right
alchemy which is some shitcoin ai thing on soul um ray of course and that's it that that is it that like that is it man everything else has just
been completely getting destroyed against far coin so i kind of think like you know higher cap stuff
outperforms and it goes down the rabbit hole kind of like how
cycles used to be right like in 21 and in 17 i think that's like the only metric i can go by
where we can compare similar cycles but i know i know i'm getting off topic here but uh
those are kind of those are my thoughts on marazalist all-time highs or just like meme coins in general, right?
Like, I think at the very least, man, Pepe can do something that Doge did last year where it gets close to its all-time high just because it has that Robinhood listing.
make new highs in crypto after like a cycle.
And I do consider Q4 to be a cycle, right?
These mini cycles.
We've seen that very few tokens actually make substantial all-time highs
after peak mindshare, right?
So memes are going to need something, man.
We're going to need a new runner is what i'm saying right like
if you want your meme coins to go into price discovery and it's not just like mirad's list but
you need a new shitter right like if it wasn't for you know goat or some of these other newer
ai tokens a lot of other altcoins probably wouldn't have spiked up, right? Because you know as well as I do, right?
Like these people that facilitate business on-chain, right?
They rotate.
They know the name of the game.
And, you know, a lot of people that, you know, held Pepe,
they also played on Sol as well, right?
A lot of people that play on Sol, they like to play on base as base as well right it's the same big hot ball of money right an on-chain cabal of sorts um when you have a
market that's just driven by three tickers and that's it you have shitty market conditions right
like you were talking about how things were last summer and it's the truth. If nobody played smoking chickenfish,
Moo Moo, Ritardio, Lock-In, Sigma, things like that from like mid-June to early August,
maybe FWOG as well was included in that in Nero, you didn't really do much for the entire of the
summer except getting chopped in a range, right?
But, yeah, those are kind of my thoughts on that, man.
What about you, man?
Yeah, I mean, I'm not worried about, you know, the market, you know, needing a new narrative or needing something else because it organically will find that next paradigm
essentially to revolve around.
It's this cycle, we needed something, what did it do?
You saw Celestia and the airdrops really kick off
and that pulled in a ton of liquidity.
Right after that, you saw Solon Chain for the first time ever start to pop off whiff and all that.
And then going into the beginning of 24, you saw Pepe go crazy and the Boys Club narrative and memes.
the boys club narrative and memes. And then at the end of last or then last year, we saw
Murad's tokens really run. And following that, then we saw AI. So I know at some point too,
and especially if we see, you know, another monster leg up on BTC and, you know, strong
altcoin frenzy, I'm not worried about or questioning whether or not
there will be some other new narrative. There's always going to be. There's always going to be
somebody out there that is tenacious enough and smart enough and creative enough to come up with
a new idea to where to really capture the mindshare of the individuals within the space.
capture the mind share of the individuals within the space.
I don't think that's ever a question.
But to me, it's how strong are the conditions to allow that said thing to survive or how
far those conditions will dictate and determine how far it's really able to run.
Some of these more organic names like Pepe and Farcoin, I don't have any
question whether or not they're going to do well moving forward. But names like the SPX and the
Miragcoins and all that, I mean, there's no meme. There's no meme. And if you don't have a meme and you don't have any organic nature about it, then eventually once the cult gets diluted enough and people leave, you don't have a cult anymore and then nothing's supporting price.
That's my biggest question.
So that's what you mean.
You're talking about like Murad's cult, not just like one specific ticker. Yeah. Is that what you're you're talking about like marad's cult not just like one specific ticker yeah i
think yeah kind of like because that's my thing with that whole with you know that whole group
of names was they got it became so diluted uh you know they had like the huge long lists
and eventually it reached its saturation point to where the, you know, community members of their community members
could not, you know, prop up price anymore. And so I'm, you know, thinking, okay, if we move,
as we move forward, our communities like that really able to, you know, come back and thrive
in a manner in which they once were.
And especially with the Coinbase listings nowadays,
I mean, we saw Coinbase list KiCat,
and KiCat was at like 40 mil market cap,
and it could barely pump it to 60 mil market cap.
I think we're really starting to see... And then they listed Doggin' Me at like 5 mil, bro.
You saw that?
Yeah, that was before KiCat,
and I don't even know why that was disgusting behavior by them.
Yeah.
Yeah.
I ran to like 80 mil or something.
Terrible meme.
I'm sorry.
But they all insider trade.
I fully believe that they all insider trade, bro.
It's like Ansem probably launched this house coin thing,
and then he gives it out to his boys, he lets it run,
and then once it hits a certain market cap,
he then shills it on his timeline.
It's, you know, it just is what it is.
House coin was launched last month,
and true story, I saw it from this one guy. his name is Lexapro or Lexatrade I
follow him on my account and he was one of the accounts said his name was Lexapro
like the anti-depressant it's like Lexapro or Lexatrade some shit like that
I don't know if it's yeah I don't know if it's an anti-depressant or not, but he was one of the guys that I followed
when Whiff started weighing like 100 million dollars in December of 2013.
Also, Memes AI.
He was one of the Memes AI guys from back in the day.
That's crazy, bro. Memes AI was six months ago of the Memes AI guys from back in the day. That's crazy, bro.
Memes AI was six months ago, man.
And it feels like a lifetime.
But, yeah, I saw him talking about Housecoin at, like, 2 mil.
And then it did, like, the usual microcap sweep and jeet, where it goes from, like, 1 mil, 2 mil, to 10 mil, then back to 1 or 2 mil.
And it was consolidating and i'm like shit
like maybe i should get some of this crap and of course i didn't get it in at those levels and
then all of a sudden like and some tweets about it and then everyone was like oh no like and some
shield it's gonna go to zero fucking top's going to be at the fucking top.
And then it's going to be a week after.
You know what's crazy?
He still has relevance.
Yeah, yeah.
The craziest thing is he still has relevance.
yeah because because he did he he called the top he called the top um in january at like 265 275
Yeah, because, dude, he called the top.
soul and everyone was going crazy on him um and i'm not sure like if he ended up calling the
bottom or not like i haven't really followed him after that.
But I think that's, like, one of the last things that I remember from him that, like, made him go viral a little bit.
Like, when it comes to majors, dude, he's, I have to give credit when it's due, right?
Like, regardless of what people think about what someone does in their personal life or whatever,
Like, regardless of what people think about what someone does in their personal life or whatever,
I think as a trader, like, higher time frame-wise, I think he is pretty, pretty damn good.
But those are my thoughts on that, man.
But if we talk about main characters, like, we didn't really have a main character in 2023, did we?
Outside of Ansem, when whiff was starting to pop
off i think we had poly when pepe was going crazy and then bitboy um who got arrested
at 24k btc and 15 soul that was nuts man that was was nuts. That was fucking crazy, bro.
And yeah, I think it's just been BitBoy and Ansem, bro.
Like as far as the main characters.
And then we had him, the AI dude, who was on fucking fire for two months straight.
And they called him AI Murad, right?
And like, I remember Murad was like oh no ai is not gonna
do anything like no one believes in the tech and then you had multiple ai tickers going to billions
while i think like the only meme coins that went to billions was with pepe mog hit like 1.5.
And then Brett.
Did Brett go to billions?
Yeah.
I don't know.
Yeah, it hit like 2, maybe.
1. something, 2.
Yeah, so you only had a couple of memes
that hit those targets.
And AI had like a dozen plus.
All within a couple of months months but we have to admit it
for what it is like if it wasn't for Nvidia chatting AI and crypto wouldn't
have done anything so I guess bullish as I am on that sector specifically like
without Nvidia or maybe some like Asian tech stock going nuts, I have a really hard time seeing us replicating that same environment.
But I do think an environment like, you know, Q4 2023 could happen, right?
could happen, right?
Like, we're seeing Farcoin doing well,
which at this point is probably, like,
the darling of the space.
We have hype as well.
That was a beautiful recovery off of the lows.
So those are really my thoughts on, like,
stuff on chain, you know?
And the fact that like house coin
i mean i don't want to jinx it but like this thing has been trending for almost a week now
and usually from what we've seen is on soul whenever something catches a little bit of a pop
during these conditions it typically gets slashed very quickly right like remember please
right that thing hit 55 mil and then just giga rugs same thing with routine so i don't know but
i i understand what people mean how it's not how it's not like a meme. It's more of a copycat, right, from SPX 6900, right?
But to me, I think it's bullish for things on chain
where the market right now is capable of sending things
to over 100 mil rather than it being capped out
at 40 to 50 mil, right?
I'm sorry if you guys hear space in the
background i just can't force myself to be indoors um because my apartment right now that i'm moving
out of smells and reeks of paint but but uh yeah those are kind of my thoughts man uh for today's
stream for me if you have some less like you have anything else um that you want to
add on to what we're discussing no man that's that's all i got really i think it was a fire
fire discussion you know a little quick uh overview of our thoughts on where we think
some alts are headed and how we think you know alts are going to be able to thrive moving forward, which I think we kind of hit the nail on the head.
Yep. All right, guys.
Donnie is recovering from his sickness,
but he told me that potentially he'll be here for the weekly wrap-up on Friday.
We're also going to be having Matt back when he comes back from vacation.
But, yeah, I want to thank you all so much for tuning in.
We'll see you on the next one.
And, of course, if you guys haven't followed us yet, feel free to give us a follow.
Thank you all so much for tuning in.
Spaces are recorded.
And if this is your first time tuning in, we host multiple daily live shows throughout the week. show is on our youtube channel called market check hosted 11 a.m est that show is uh
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the like so guys we'll catch you on the next one take care god bless you all thank you so much for
tuning in peace out y'all
