The Wolf Of All Streets

“Dave says Bitcoin could take over gold's monetary premium, a significant multiple from here, but its next leg up is further out than most think "Ignoring Bitcoin's implied option is a serious mistake, and that's the point. Now, it's an option. It's not necessarily going to happen, but there are many people out there, I know them, that are holders, that are in traditional finance, that have a piece of their portfolio." "Whether it's Ric Edelman's 40% or somebody else's 2 to 3%, they hold a position in their portfolio. Their avowed reason for holding it is that Bitcoin can become gold and take over gold's monetary premium. That is a significant multiple of where it is today." "Which explains why Bitcoin has been in this range. It's now three times failed, and this is fairly significant. It's three times failed at that $86,000 to $87,000 level. And as I've said before, I thought it would stay around in this $80,000s range for a while, as it digested, before another impulse higher at some point. Now, I think that some point is later than most. It's not gonna happen this month, but it could." "That understanding is why you see more long-term buying. That's why what you're seeing is important. And yes, Bitcoin is 100% the most sensitive to liquidity flows. But it has historically been inverse correlated to the dollar, and yet it's holding in the $80,000s with the dollar being this strong. So, you know, we'll see what happens."”

“Peter Schiff admits he's surprised Bitcoin held its gains while gold reversed its rally, but still expects Bitcoin to hit new lows "Gold lost pretty much the entire rally on all of the tough talk from the Fed about raising rates and fighting inflation. Bitcoin, on the other hand, held on to its gains." "Prior to that, gold had a big move and then a big correction. Bitcoin never had the big move. Bitcoin had the big move a long time ago, and Bitcoin went way down. So, Bitcoin was down around $60,000-ish before that news, and now it's $85,000. So Bitcoin has held on." "Whereas gold had gone up to $5,500, then had fallen to about $4,000. The news did shoot it back up to, like, $4,600, $4,700, but now it's right back down to $4,000. Whereas Bitcoin is not back down at $60,000." "Bitcoin hasn't given up those gains, which has surprised me a bit, because I expected Bitcoin to go down. So I don't really know what's holding it up. I do expect it to go down. I do expect it to make new lows. I just would have thought it would have happened already."”

“Peter Schiff says crypto's support for Trump has made Democrats its enemy, and they'll do whatever they can to go after the industry "Trump's campaign was financed in large part by the crypto industry, and Trump overwhelmingly won the crypto vote by promising to do things specifically to enrich people who own Bitcoin." "You know, I'm gonna establish a Bitcoin reserve. We're gonna use taxpayer money to buy Bitcoin. We're gonna make the United States the Bitcoin capital of the world. I'm a Bitcoin president. I have a Bitcoin cabinet. I have a crypto czar. All the Bitcoin people were enthusiastically supporting Trump because they thought that Trump would make them rich, because Trump was gonna drive up the value of Bitcoin." "The Democrats now are antagonistic, because now they see that Bitcoin is a source of funding for Republicans, a source of votes. So now the Democrats are anti-Bitcoin just for that reason alone, forget about anything else." "They're gonna be very hostile. They're gonna go after Trump's donors. They're gonna go after the industries that support him. They're gonna go after his voters, right? So they're gonna do whatever they can to make things difficult for that industry." "Now, Trump is still the president, but he won't be president for much longer. But a lot of this comes out of Congress. So I think that the tables are gonna turn, and Washington is gonna be more of an enemy than a friend when it comes to Bitcoin."”

“Forget daily ETF outflows. JPMorgan pegs crypto inflows near $50B this year and projects $66B by year-end "JPMorgan pegs 2026 crypto inflows near $50 billion, momentum building into Q4. They actually extrapolated this forward, saying that they think that we will have an annualized pace of roughly $66 billion, which could actually increase if the bull market progresses." "When they talk about flows into Bitcoin, this is not all in ETFs. This is combining fund flows, futures-based movements, venture funding, and purchases by corporate treasuries and miners. We talk about purchases by miners. It also includes private companies and government-related entities." "This is a lot of money flowing into an industry that has been, the narrative has been that it's dead, and we've been in a bear market, and then we're never coming back." "So is it really a story that the Bitcoin ETFs lost $729 million on Wednesday and Thursday? Or is it a bigger story that the industry writ large has gained about $50 billion, even as market cap has dropped and we've gone through a bear market? I think it's important, once again, to remember that we should always zoom out and look at the longer trend and not get too caught up on what's happening on a day-to-day basis."”

“CRYPTOQUANT FOUNDER KI YOUNG JU: "DON'T CONFUSE A BULL MARKET CORRECTION WITH A BEAR MARKET." "BITCOIN IS STILL IN THE EARLY BULL PHASE."”

“Matt Hougan says a handful of mega-caps are sucking capital from the rest of the market, and if they roll over, $BTC ends up doing exceptionally well "I think some of that underperformance is those 5 or 10 names sucking capital out of the other names, more so than poor economic performance or poor economic earnings. I would guess if you looked at the overall earnings of the S&P 500, they may tell a different story than performance." "We felt that so acutely in crypto, where AI was sucking capital out of crypto for a while, and that definitely contributed to the last bear market cycle. So I think there's an element of that in it as well." "You have to be a little bit worried about it. You have to play the game in your head of what happens if that crash happens. As crypto investors, we should ask, what happens if that crash happens? I think in the end it ends up with Bitcoin doing exceptionally well, but there might be a little hiccup in the middle. But I see no signs that we're rolling over."”

“LATEST: TD COWEN RAISES ITS BITCOIN $BTC PRICE FORECAST TO $109,000 BY THE END OF 2026 AND $280,000 BY 2029, CITING STRONGER-THAN-EXPECTED MARKET PERFORMANCE”

“BITWISE SAYS BITCOIN'S Q3 RALLY SIGNALS A MAJOR MARKET "REGIME CHANGE" AS $BTC BREAKS ITS HISTORICAL RELATIONSHIP BETWEEN RISING PRICES AND FALLING EXPECTED VOLATILITY”

“ETHEREUM $ETH RESEARCHER JUSTIN DRAKE CALLS FOR CRYPTO TO PREPARE FOR "BUNKER MODE," WARNING AI COULD BREAK BITCOIN AND ETHEREUM'S ECDSA SIGNATURE SECURITY SOONER THAN EXPECTED AND URGING HOLDERS TO MIGRATE ASSETS TO FRESH ADDRESSES”

“People want Fed cuts for a pump in risk assets, but the Fed only cuts when something breaks "But what we really have right now is the strange contradiction with markets, right? People want to see the Fed cut, because a Fed cut means that risk assets will go up, because it means there's more liquidity." "But the Fed only cuts when something's broken, right? So you're effectively cheering for something to break in the economy so that the Fed can cut so that your asset can go up. And it's like living in the Upside Down in Stranger Things. None of it makes much sense." "Once again, yes, Bitcoin went down today because of things that were happening in the macro, sort of. But it has risen if you zoom out, and it is on an epic rally, its best third quarter in many years, and probably entering into a new bull market." "So we're gonna see what the Fed does. We'll see what oil does. But I can tell you that no matter what the Fed does and oil does, the bond market is not believing any of them."”

“ARTHUR HAYES SAYS TRILLIONS ARE BEING WASTED ON AI DATA CENTERS AND EXPECTS THE BOOM TO END IN A CRASH AND BAILOUT THAT SENDS BITCOIN $BTC AND CRYPTO HIGHER”

“Noelle Acheson on why $BTC held its Bessent buyback rally despite weaker liquidity indicators "Yeah. I mean, you look in the rearview mirror, it's like it's over. It's so over, right? But as we all know, you don't drive along the highway by looking in the rearview mirror." "The fact that we had that candle back in August says a lot about why we are where we are today. That candle happened on the day that US Treasury Secretary Scott Bessent announced the surprise buybacks of longer-term debt. It zoomed up and it didn't come down, which is quite uncommon after you get that kind of a slope." "It went along just under $80,000 for a while. Then it zoomed up again, and it's continued to edge up since then, today's slight pullback notwithstanding." "That says a lot about why the liquidity indicators are not bringing Bitcoin lower. We're looking beyond the squeeze. We're looking beyond the potential tightening of the market, the potential break, should we say, of the current equilibrium. We're looking beyond that." "We saw that in the reaction to what was the first sign of official intervention. It was tiny, certainly compared to what's coming. But it was the first sign."”

“BITWISE CIO MATT HOUGAN SAYS BITCOIN $BTC IS ON TRACK TO BECOME "DIGITAL GOLD" AS ANNUALIZED VOLATILITY FALLS FROM 66% OVER THE PAST DECADE TO 44% OVER THE PAST YEAR”

“Michael Howell says a small Bitcoin position hedges inflation as well as a big gold one, but gold's lower volatility makes it the larger holding "I think both assets are good monetary inflation hedges. The fact is that if you look at crypto, Bitcoin, they're the most liquidity sensitive assets on the planet. They move, you know, many, many fold more for a liquidity impulse compared to gold. So you don't need very much in a portfolio to give you a monetary inflation hedge." "My view is that you've got, what, 3,000, 4,000 years of history behind gold. You've got 15 years or so behind Bitcoin. And therefore, I've got to be more confident that gold in the long term is going to maintain the properties of monetary inflation hedging." "Bitcoin certainly has done it in the last 15 years, and I hope it succeeds. But I think you need both in your portfolio, mixing them by their relative volatility. So it means having a lot more gold than Bitcoin. But both are good, I think."”

“Michael Howell says he'd rather own TIPS than stocks, and calls any dip in gold and Bitcoin a buying opportunity "The point is to come back to why the bond market in the US. And let me just draw that distinction, because there are other markets where you are getting, you know, negative effects from too much debt. And I think Japan is one of those. France is clearly another." "In the case of the US, it's pretty clear that it's a strong economy and it's not really the debt outlook that's really affecting the bond market yet. That may be to come, but it's not right now." "Term premia in the US have been either flat or falling, which is a pretty good indication that debt is not really a worry to investors. It's a strong economy that is. It's basically rate expectations that are really pushing yields higher." "That in a way is self-curing because the more that yields rise, the more that is going to weigh on the economy. You're likely to see some sort of adjustment." "I would say on a 12-month view, bond markets look pretty attractive to me, particularly the TIPS market. You could be getting some not bad gains. I'd much rather be there than in stocks." "Go back to the gold and Bitcoin point. I think those are long term asset holds in a portfolio. If they do come down, which they're likely to if the monetary environment gets squeezed more, it's a buying opportunity, not a selling opportunity."”