Originally aired on August 30, 2023
Wendy O covers the latest crypto market action, including Bitcoin bouncing back above $27,000 but possibly facing more downside. Wendy remains cautious in the current bear market. Other topics include the ongoing BitBoy Crypto situation, the major Grayscale Bitcoin trust court victory against the SEC, and skepticism about whether Bitcoin ETFs will actually get approved soon.
Wendy provides her usual colorful commentary, warning viewers not to blindly trust advice and to think critically. She also argues for sensible crypto regulation in the US, criticizes SEC overreach, and believes crypto companies are increasingly moving overseas due to regulatory uncertainty.
What is the current state of the crypto market?
- Bitcoin bounced back above $27,000 but is showing signs of a reversal
- Wendy expects a retest of $26,500 based on lower timeframe charts
- Altcoins like XRP and Ethereum are also ranging, awaiting Bitcoin’s next big move
What’s the latest with the BitBoy Crypto situation?
- Wendy considers both sides close friends and doesn’t want to judge
- Hopes Ben gets his channel back and that the dispute can be resolved amicably
- Notes addiction issues should be treated as a disease needing help
What was the big Grayscale Bitcoin trust court ruling?
- Federal appeals court sided with Grayscale against the SEC
- SEC had rejected Grayscale’s Bitcoin ETF application as arbitrary
- Seen as a major defeat for the SEC and its crypto regulation overreach
What are the odds for a Bitcoin ETF approval?
- Wendy thinks SEC will delay spot Bitcoin ETFs until 2024
- But concedes she could be wrong if applications get approved soon
- For now she remains skeptical, despite growing momentum
00:00 – Intro
03:35 – The entire crypto market
04:05 – BTC price analysis
06:55 – XRP price analysis
07:25 – ETH price analysis
07:30 – Update on Bitboy Crypto
09:00 – Grayscale win recap
12:30 – Grayscale GBTC discount hits new lows
13:30 – Insider info
15:20 – Proceed with caution with Grayscale news
19:10 – Chance of ETF approval in 2023 increased
21:30 – Gary Gensler to testify
22:30 – Why Gensler is going after crypto hard
25:35 – Coinbase vs SEC updates
27:50 – Coinbase adds Paypal in EU
28:55 – EOS trading approved in Japan
32:50 – Global collaboration on crypto regulation
33:50 – Google working with El Salvador government
35:55 – Polkadot MATIC releases toolkit for devs
37:45 – How to approach token unlocks
43:40 – SBF FTX prison tech is enough judge rules
46:50 – US jobs report
47:50 – Credit card fees raised