Share
Daily Crypto News
June 4: BITCOIN HITS EXTREME FEAR AS THE CRYPTO WINTER DEEPENS
Matt opened the show with a simple message: if you're a long-term holder, this is probably the time to close CoinMarketCap, shut down the computer, and go enjoy your life. Bitcoin briefly touched roughly $61,500 after trading near $85,000 just two weeks earlier, while Ethereum fell below $1,800. The market was hit with approximately $1.76 billion in liquidations over a 24-hour period, and ETF outflows have now stretched to thirteen consecutive sessions, totaling roughly $4.4 billion since mid-May.
Matt described the recent price action as a classic "dead cat bounce," where a market crashes so hard that it temporarily rebounds before settling lower. While some analysts, including Standard Chartered, have suggested the bottom may be close, Matt remains skeptical. His view is that a 50% drawdown from all-time highs does not automatically mean the pain is over. Historically, Bitcoin has experienced even deeper corrections, and he cautioned that another significant leg lower remains possible.
A major point of discussion was Strategy (formerly MicroStrategy) and the growing speculation surrounding its massive Bitcoin holdings. Prediction markets are increasingly focused on questions surrounding Strategy's future purchases, index inclusion, and financial stability. While Matt does not believe the company is facing an imminent crisis, he noted that any meaningful Bitcoin sales by Strategy would inject significant liquidity into an already fragile market and could intensify downward pressure on price.
Matt also reflected on the emotional reality of crypto bear markets. No matter how committed someone is to Bitcoin, prolonged drawdowns eventually test everyone's conviction. Even the most bullish investors experience moments of doubt. His advice remains the same as it has been throughout previous cycles: if you're a believer in the long-term thesis, continue dollar-cost averaging if it fits your plan, avoid emotional decisions, and remember that bear markets are designed to make people question everything.
By the end of the episode, Bitcoin was trading around $63,460, Ethereum near $1,772, XRP at $1.17, and Solana below $70. The overall crypto market capitalization had fallen to roughly $2.2 trillion, while the Fear & Greed Index registered an "Extreme Fear" reading of 19. Matt argued that true capitulation may not have arrived yet. In his view, the real bottom typically comes when investors become completely despondent and the broader market once again declares that Bitcoin is dead. Until then, his message was simple: enjoy the weekend, spend time with family, and don't let the charts control your life.
Summary: Bitcoin's sharp decline, record ETF outflows, and extreme fear readings have pushed the market deeper into bear-market territory. While some analysts believe a bottom may be forming, Matt remains cautious, warning that further downside is still possible and encouraging investors to focus on long-term discipline rather than short-term panic.
More episodes
View all episodes
Sept 23: The Stablecoin Endgame?
20:21|Bitcoin is holding in the mid-$85,000 range as U.S. spot Bitcoin ETF demand remains strong, with roughly $714 million of additional inflows following Monday's nearly $1 billion. But today's main discussion comes from Bravo's Research, which lays out a theory connecting Treasury's long-duration debt management, greater reliance on short-term Treasury bills and the rapid growth of dollar stablecoins as a potential new structural source of T-bill demand. Treasury Secretary Scott Bessent has publicly said that stablecoin growth could strengthen the dollar and increase demand for U.S. Treasuries, although the specific three-step strategy discussed on the show is analysis rather than an announced Treasury policy. Bravos: https://www.youtube.com/watch?v=u70oUWgVoYU&utm_source=chatgpt.comStablecoin infrastructure is also moving deeper into traditional finance, with SoFi migrating a card program expected to process more than $25 billion annually onto SoFiUSD settlement and six major Canadian banks exploring tokenized deposits. Coinbase has launched fixed-rate USDC loans backed by Bitcoin, the CFTC is warning exchanges about manipulation risks in prediction markets tied to what specific people say or do, and Solana's Alpenglow upgrade targets finality of roughly 150 milliseconds versus about 12.8 seconds today. Matt's broader takeaway is that crypto infrastructure is increasingly disappearing underneath conventional financial products, meaning many future users may interact with blockchain settlement without thinking of themselves as crypto users. Happy HODLingSept 22: Bitcoin Holds Above $85K as ETF Inflows Explode and Corporate Buyers Come Back
22:49|Bitcoin held above $85,000 after briefly trading above $87,000, while U.S. spot Bitcoin ETFs recorded approximately $999 million in net inflows on Monday. Matt argues that this is an important transition point because the short squeeze that helped drive the initial breakout cannot continue indefinitely. The next leg higher needs genuine buyers, and the surge in ETF demand, combined with new purchases from Strategy and Strive, provides stronger evidence of sustained demand. Elsewhere, Binance invested $100 million in Circle while also facing another U.S. sanctions investigation involving Iranian activity. White hats recovered another 52 Bitcoin tied to the COLDCARD exploit, X added trading links to stock and crypto cashtags, and Cardano joined the x402 payment standard for autonomous AI agents. Matt remains bullish on the improving infrastructure around crypto but wants Bitcoin to establish the low-to-mid $80,000 range as support before assuming the rally can continue indefinitely. Happy HODLing
Sept 21: Craig Cobb's $83K Level Breaks as Shorts Get Crushed. Bitcoin Rips Above $85K!
21:33|Bitcoin surged above $85,000 after finally clearing the roughly $83,000 level that both Matt and Craig Cobb have been watching. Craig explains that the breakout does not automatically create a monthly Bitcoin uptrend, but it does eliminate the existing downtrend and moves Bitcoin into a no-trend higher-time-frame structure. Total crypto market cap had already made a similar breakout, while Solana and other major altcoins are showing stronger cyclicity and trends. Matt's next question is whether roughly $83,000 can now become support. The rally was supported by falling oil prices, a retreat in the 10-year Treasury yield, renewed ETF inflows and a huge short squeeze, with about $648 million in crypto shorts liquidated. Beyond price, Coinbase is seeking approval for single-stock perpetual futures, ZetaChain voted to wind down its Layer 1 and migrate to Solana, the CFTC is moving ahead with crypto rulemaking after CLARITY failed, and Polymarket is facing serious questions over fraud and compliance. Matt remains constructive but cautious, arguing that the breakout becomes significantly more convincing if Bitcoin can turn the low-$80,000 range from resistance into support. Happy HODLingSept 18: Bitcoin Pushes Back Toward $78K as Wall Street Moves Deeper Onchain
24:18|Bitcoin moved back toward $78,000 as spot ETF flows returned to positive territory, although Matt argues the market remains sideways rather than in a confirmed recovery. The bigger structural story is the SEC's new five-year innovation exemption for tokenized U.S. stocks, which requires tokenized shares to carry the same ownership rights as their traditional counterparts. Traditional finance continues moving deeper into blockchain infrastructure even as corporate Bitcoin purchasing has slowed. Prediction markets are also becoming increasingly important and increasingly controversial. Matt discusses a listener's proposal to emphasize knowledge and consumer protection rather than prohibition, his prior research into apparently coordinated wallet activity in Ohio political markets, and the Ninth Circuit's ruling involving Kalshi on tribal lands. He also examines AI-assisted cybersecurity and Andrew Yang's unverified account of self-replicating AI code on the open internet, while raising his own concerns about the growing role private AI platforms play in political research and expression. Happy HODLingSept 17: Bitcoin Holds Near $77K After the Fed Hike as Institutional Crypto Keeps Expanding
12:47|Bitcoin remained around $77,000 after the Federal Reserve delivered its widely expected 25-basis-point rate hike, with Matt arguing that the decision itself had already been priced into markets. The more important issue now is weakening demand, including softer ETF flows, on-chain inflows, stablecoin growth and corporate treasury purchases. Matt continues to view Bitcoin as sideways unless it decisively loses roughly $76,000, which would put the $72,000 area back into focus. Institutional crypto infrastructure continues expanding despite the CLARITY Act's failure. Circle launched Arc with more than 100 applications and institutional participants, while Deutsche Bank plans to launch regulated digital-asset custody in Europe. Congress is also continuing work on crypto tax and Bitcoin-reserve legislation, while Zcash rallied sharply following renewed institutional attention to privacy. Happy HODLingSept 16: The CLARITY Act Failed. Trump Gave Democrats the Political Opening They Needed.
24:58|The Senate failed to advance the CLARITY Act in a 49-50 cloture vote, well short of the 60 votes required. Democrats centered their opposition on ethics concerns surrounding President Trump's crypto businesses, while Republicans argued they had already incorporated 126 substantive Democratic requests. Three Republicans opposed advancement on substantive grounds, while Thom Tillis switched his vote for procedural reasons that preserve the possibility of reconsideration. Matt argues that Trump's crypto interests gave Democrats an obvious political opportunity, while also questioning provisions designed to protect banks from stablecoin competition. The failure leaves major questions unresolved for altcoins, exchanges, DeFi, tokenized assets and developers, even as Bitcoin already operates under a more established regulatory framework. Fairshake enters the midterms with more than $112 million available, but there is no evidence yet that it will simply abandon Democrats for Republicans. Matt's broader conclusion is that CLARITY's failure is a political and regulatory setback, not the end of crypto. The technology, investment and financial experimentation underlying the industry continue regardless of what happened in the Senate. Happy HODLingSept 15: Bitcoin Slips Below $77K as the 10-Year Breaks 5% and CLARITY Faces Its Big Vote
13:07|Bitcoin slipped below $77,000 as the 10-year Treasury yield moved above 5%, oil remained above $100 and markets heavily priced a 25-basis-point Fed rate hike for Wednesday. ETF flows have also weakened after the large inflows earlier this month. Matt remains cautious, arguing that expensive money, persistent inflation and geopolitical energy pressure create a difficult environment for Bitcoin and other risk assets. The Senate's 2:15 p.m. Eastern CLARITY Act vote is today's major crypto catalyst. The procedural vote requires 60 senators, meaning Republicans need support beyond their 53-seat conference. Matt supports clearer crypto rules and stronger ethics provisions around public officials, but argues that stablecoin regulation should not become a mechanism for protecting banks from legitimate competition. He also sees the emerging push to slow AI development as a potential economic and geopolitical risk if U.S. restrictions move faster than those of competing countries. Happy HODLing
Craig's Biggest Trade This Week Is Staying in Cash
05:51|Craig starts the week largely in cash after last week's CPI and PPI volatility produced a massive Bitcoin whipsaw capable of stopping out traders on both sides of the market. Bitcoin remains consolidated roughly between $76,000 and $82,000, while the total market cap is similarly directionless. With no clean trend or compelling structure, Craig sees no reason to force a trade simply for the sake of having a position. The bigger concern is event risk, with the CLARITY Act procedural vote followed closely by the FOMC rate decision and accompanying Fed language. Craig explains why he avoids holding short-term trades through major binary events and distinguishes probability-based trading from gambling on an unpredictable announcement. Even if a strong setup appears before those events, he would not want to carry it into the volatility. For now, his most important trade is patience. Happy HODLingSept 14: Bitcoin Holds Near $78K as Oil, Yields and AI Fears Hit the Markets
21:33|Bitcoin remains around $78,000 as oil trades above $100, the 10-year Treasury yield flirts with 5% and markets prepare for Wednesday's Fed decision. Matt remains cautious on Bitcoin's near-term outlook and still considers the current movement part of the same broad sideways range until Bitcoin can decisively break through the low $80Ks and establish $80,000 as support. The CLARITY Act also faces a major procedural test this week, with stablecoin yield emerging as a key fight between crypto companies and traditional banks. Matt argues that regulators should distinguish genuine consumer protection from rules designed to insulate incumbents from competition. He applies the same concern to AI, arguing that legitimate safety risks should not become justification for allowing a small group of dominant companies to create a regulatory structure that locks out open-source development and smaller competitors. Happy HODLing