Today’s Nuggets
BTC ETF Bleed Slows Down
Retail Sells BTC…We Know What Comes Next
Bolivia Now Uses BTC to Trade Oil
BNY & Circle Partner
SOL Inflation Reduction Vote Failed
Tesla Competition Got Cancelled
Starship Heading to Mars with Optimus in 2026
Celebrity Poses with Optimus
Starlink Gets UK Naval Trial
This is the week's recap to cover some of the news you may have missed.
Bitcoin is like a stable coin bouncing at $84K and nothing is happening. The question I will try to answer today is, are we going to $92,000 or $75,000?
We have a very bullish indicator because retail is selling Bitcoin and they always pick the wrong time to sell. We will look at some stocks and sectors that are surging.
A week ago, I did this recap at the same time and the price of Bitcoin was the same price of $84,500.
Over the last seven days, the Bitcoin price has moved down by 0.01%. ETH is up 1.1%. Cardano is up a little bit. Solana is down 2%. Everything has been super, super stable.
The selling by the ETFs has fallen quite a bit, which is good to see.
We had two positive days last week and the bleeding is stemming. Hopefully, the flow will start to return.
Here is a little bit of Bitcoin TA from Axel.
He believes BTC support is holding around $83,800 per the chart above. Coincidentally, this is confluent with the max pain on the options side of the house.
Many times, the price gravitates toward the max pain level. If the market continues to hold this level, the next stage is the upside target which would not be $92,000. Amazingly, we had a $108,000 Bitcoin but we would be so happy to see a $92,000 gain after being in this kind of chop-solidation level with much fear about the global economy and tariffs.
In case of a decline, there could be a dip to $76,000. We have already been down to $77,500, so that should come as no surprise.
However, I think the odds are more likely that we go up from here.
Retail is capitulating right now and selling.
When retail capitulates, typically right afterward, Bitcoin goes up. Retail Bitcoin holders are considered those with Bitcoin balances under one whole Bitcoin in this chart.
They are selling their coins, which mirrors the capitulation pattern seen in late 2020. Today, this group holds 35% more Bitcoin than it did in 2020, with about 1.75 million BTC. The last time they did this, Bitcoin went on a rampage. Last time, Bitcoin went from about 10,000 straight up to 67,000.
Let us hope it happens again!
BRICS originally consisted of Brazil, Russia, India, China, and Saudi Arabia.
The number of BRICS nations now is insane, with over 50 countries. The combined GDP of these BRICS nations is much larger than that of the Western world.
It is not just Brazil.
We have Bolivia, which is now using Bitcoin to trade oil. One of my dreams in 2021-22 was for
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