The Wolf Of All Streets

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

“Mike calls $BTC a poor investment, saying it hasn't beaten the Nasdaq since 2017 despite 3x the volatility "I do enjoy when Dave calls smart money people invest in Bitcoin. If they're smart, they're poorly invested. They're making poor performance, poor relative performance." "Because you just look, Bitcoin versus the Nasdaq. It's the same level as first touch in 2017. It's the same level as the 2021. And over that time it's traded 3 times the volatility. Now that's just a fact." "But I've heard that from prominent money managers at economic club events in Miami. They look over at Bitcoin and say, yeah, great. I do much better risk adjusted than Nasdaq. Why would I touch this highly speculative digital asset that has, in a space, within a space of unlimited supply?" "And I like to bring that out because I started calling Bitcoin amongst a bunch of pigeons last year. At least precious metals are a bunch of doves. There's only 4 of them: gold, silver, platinum, palladium, and they've reached 2 highs." "So I'm glad you mentioned platinum, Dave. The high in platinum was in 2008, basically $2,200 an ounce. And right now we're $1,700 an ounce. That's a horrible investment. And I was part of it for a long time. It just, some of us got lucky to sell in Q1, stuff we held for decades."”

“The bond market isn't buying one good inflation report over fiscal risk, and $BTC is the beneficiary "The bond market is an absolute mess right now. So it's not necessarily, I would say, rejecting the inflation report because that's just one PCE report." "But what it is saying is that one good inflation report cannot offset expensive oil, strong growth, government borrowing, and long-term fiscal risk." "So you would think, once again, that in a world where bonds are dumping and interest rates are flying, Bitcoin would be under pressure because it's supposed to be a risk asset. There's less liquidity, situation is tightening, all those things." "But if interest rates are rising and bonds are dumping because people no longer believe in the system and are afraid of fiscal dominance and irresponsibility and monetary irresponsibility, that's actually what Bitcoin is built for." "And in my mind, that's why Bitcoin is doing so well. And it's, of course, doing it so well right on time for the train to leave the station for the next bull market, if you do believe in the cycles. What a time to be alive, right?"”

“Bitcoin is on track for its strongest quarter since late 2024, despite rates above 5% and high inflation "Bitcoin is about to close its strongest quarter since late 2024, its first green quarter in quite a long time. And that was while interest rates were soaring and have largely been above 5%. So Bitcoin didn't care about the high inflation numbers, and I don't expect it to pump because of fake low inflation numbers." "As much as I hate to say it, because I was one of those guys who said the cycle is not going to be a thing, that it doesn't matter anymore, it coincidentally topped on the exact day it was supposed to, and it has been in a bear market ever since. Maybe Bitcoin remains a beautifully uncorrelated, idiosyncratic asset that you want in your portfolio precisely because it's not correlated to anything else." "Some days it is correlated, because some days all assets are correlated when they coincidentally move in the same direction, or there's a piece of news that moves them temporarily. But if you zoom out and don't pay attention to the daily moves, Bitcoin is not correlated, and is probably entering its own cycle." "Bitcoin has made a new higher high, is above all meaningful moving averages, and is likely entering a new cycle regardless of what happens in the rest of the economy."”

“Avichal Garg on his $5-10M $BTC thesis "The way we've always thought about it is, this is digital gold. It's a fixed supply asset, it's easy to transport, it's easy to subdivide, it's a global liquid market." "People in the United States sometimes, or people in the west sometimes, forget how easy it is for us to acquire gold. You can go to the store and buy some, or you can get some gold futures. In a lot of the world, you can't get gold that easily. And people want it, people want dollars and gold." "So I tend to think as many people will have BTC as hold gold. If you just look at it from a market cap perspective, if BTC and gold get to a similar market cap, you're talking well in excess of a million dollars per BTC." "One of the lessons of the internet is, when you put things on a phone, you get addressable market expansion. Back in the day people used to talk about, how could Uber possibly be worth more than $10 billion, because the entire taxi industry is only worth $10 billion. Without realizing that when you put Uber on one of these things, all of a sudden 10x as many people can do it." "If you went back 15 years and told your friends there are gonna be 10 companies worth more than a trillion dollars, nobody would have believed you. So I don't think it's crazy that BTC ends up being bigger than gold in the fullness of time."”

“STRIVE CEO MATT COLE ON $BTC: "PROBABLY NO BITCOIN PRICE IS TOO HIGH" UNTIL THE US DEBT CRISIS BREAKS "WE THINK BITCOIN CAN EFFECTIVELY GO TO INFINITY VERSUS THE DOLLAR" https://t.co/I5Az4E0Ujk”

“The S&P 500 is sitting near record highs. But the internals are weak. As of Wednesday, 257 of the 500 stocks in the index were trading below their 200-day moving averages. That’s more than half the index underwater on a widely watched long-term momentum measure. Breadth is bearish. Now look at crypto. Of the top 100 tokens by market cap, 88, including Bitcoin and Ethereum, are trading above their 200-day SMAs. Most of those same coins are also holding above their 50-day and 100-day averages. That’s a clean, bullish configuration across the board. And here’s the part that stands out: $BTC, $ETH, $XRP, $SOL and the majority of the rest are still well below their all-time highs. They look relatively inexpensive compared with equities that are already pricing in a lot of good news. Weak breadth in stocks near highs has historically been a yellow flag. Strong breadth in crypto while prices remain far from peaks is the opposite setup. The data doesn’t lie.”

“The S&P 500 is sitting near record highs. But the internals are weak. As of Wednesday, 257 of the 500 stocks in the index were trading below their 200-day moving averages. That’s more than half the index underwater on a widely watched long-term momentum measure. Breadth is bearish. Now look at crypto. Of the top 100 tokens by market cap, 88, including Bitcoin and Ethereum, are trading above their 200-day SMAs. Most of those same coins are also holding above their 50-day and 100-day averages. That’s a clean, bullish configuration across the board. And here’s the part that stands out: $BTC, $ETH, $XRP, $SOL and the majority of the rest are still well below their all-time highs. They look relatively inexpensive compared with equities that are already pricing in a lot of good news. Weak breadth in stocks near highs has historically been a yellow flag. Strong breadth in crypto while prices remain far from peaks is the opposite setup. The data doesn’t lie.”

“Tristan Thompson says $SOL could easily 2x from here "For the investor side, it's $BTC, definitely $SOL. Especially right now, what I tell people is if they are looking for an altcoin to buy, I would say SOL, just because of the runway that it has right now." "What's around, what, $115 to $117. It can easily get back up to $240. So if you're just looking from an investment side, that's a great, easily 2x that could happen." "I've seen it, because I remember playing around with SOL at $125 and then it getting to, like, $240 and then opening up a long position. So I would say for myself, my two heavier bags, definitely BTC and some SOL. Especially right now."”

“Caitlin Long on the outcry Kraken faced over a master account it still hasn't been allowed to use "Look at the outcry when the Fed gave Kraken its master account. It got announced in March. If you look at the database though, they signed the documents in January." "Look at what the banks did. The screaming that took place from Elizabeth Warren and that crew was insane." "And if you go look at how that bank is regulated, they have the same charter we do. They're going through a full-scope bank exam with CAMELS scores, bankers know what that means, every year. That is a far higher bar than what a trust company or a money transmitter has to satisfy." "But the wild thing is that the CEO of Kraken Bank testified publicly about a month ago that even though they got the account in January, the Fed had not let them operationalize it yet." "And if you put the puzzle pieces together, they had a 12-month trial. It's 8 months into the 12-month trial and they hadn't let them turn it on yet." "So it was never real, is what I concluded. I'm not shocked, because the Fed just plays games."”

“Mark Moss puts 80% odds on $58K being the bottom "I believe the bottom is in. I would say probably with about 80% probability. I think the bottom was in at the level that we got to, at the $58K level." "Could we get back and retest into the mid 60s? We certainly could. I think maybe we could retest at the 200 week moving average kind of thing, and I'm not a technical analyst." "But I would say the low, back at whatever it was, at 58, I think that was the low. I don't see us dropping back below that." "I was certainly on the bandwagon, Scott, that the four year cycle was dead. Some people are still hanging on to that. I don't see how you technically could." "What's happened is it's sort of turned into this self fulfilling prophecy where people want to front run it. And now they're front running getting back in, and it's happening a month early."”

“Strive CEO Matt Cole says they 4x'd their Bitcoin holdings despite a bear market "We have over 24,000 Bitcoin now. In two days we'll have been public for one year. We started with just over 5,000 Bitcoin, so we've more than 4x'd our Bitcoin in a Bitcoin bear market. Obviously a tough environment for companies trying to amplify Bitcoin exposure." "Since the October crash, I think we're the only DAT that's outperformed the underlying asset. B. Riley came out with a release on that. So the performance of Strive today has been strong." "It's been a bear market, and we're playing for Bitcoin to go to millions. Ultimately infinity, because fiat currencies are worthless." "I'm looking forward to seeing how the engine we've built performs in a bull market, and I'm pretty constructive that we might be there."”

“Tillman on why Bitcoin's critical mass is nearly impossible to replicate today "Well, I have a thesis, and I don't think it can be argued. I don't think Bitcoin would survive if it started right now." "The age of AI, and a proof of work network, and the susceptibility to a brute force attack at the 51% mark, I think the critical mass point that you need to get to is almost not achievable with the technology we have now. I think that's days old." "I think Bitcoin's going to be enshrined in that regard. I don't think that it's going to lose its place. I think it's only going to gain market share in that regard." "Largest proof of work network ever created, and it's the largest network in the entire world. And that is valuable in and of itself." "You talk about use case, talk about value proposition. That's valuable whether you see it or you don't. You're going to use it at some point."”

“Bitcoin needs to hold above around $82,800 to break the bearish structure "I do believe we are likely near a bottom. All the signals I've been telling you about for months were there, and now we've passed some fundamental levels that I think are important" "That said, for the technical analysts out there, Bitcoin needs to get above around $82,800 and hold there to make a new higher high and abolish the bearish market structure that still exists" "If I had a gun to my head, I would imagine we see some sort of retracement to some degree. Let RSI cool off, let the chart cool off a bit, maybe go back and test the low 70s or high 60s, get people thinking we're in a bear market again, and then gain fuel for that next rally" "It's nice not to be trading sideways at $64,000 indefinitely. It seems Bitcoin finally produced the perfect bottom signal, which was everyone stopped caring. Perfect time based capitulation"”

“Mike McGlone calls Bitcoin a horribly poor performing asset, with no gain on the S&P or gold since 2021 and at three times the S&P's volatility "Bitcoin versus the S&P 500 is at the same level as 2021, yet it trades about three times the volatility" "Bitcoin versus gold is at the same level since 2021, and annual volatility has dropped to its lowest level ever" "So I put on my FRM and CFA hat, and I look at this as a horribly poor performing asset. High volatility, high correlation, and underperforms beta, particularly on a volatility weighted basis"”