Originally aired on October 24, 2023
In this episode, Wendy O discusses the crypto market pump to near $36K and whether it signals the start of a new bull run. She analyzes the Bitcoin price chart, noting key levels and potential corrections. Wendy covers news around BlackRock’s Bitcoin ETF filing and removal from the DTCC website, expert testimony about FTX’s missing customer assets, MicroStrategy’s Bitcoin buying, and more. She urges taking profits, having a trading plan, and using proper cold storage.
Why did Bitcoin pump and then correct down to $33K?
- Spiked on news of BlackRock ETF listing on DTCC
- Then dropped when listing was removed, not yet approved
- Shows market impact ETF approval could have
What did the expert witness reveal about FTX’s holdings?
- Claimed only $5B of reported $20B in customer assets
- Traced funds to shell companies, donations, investments
- Shows mismatch between bank reserves and FTX
What is the latest on BlackRock’s Bitcoin ETF?
- Listed briefly on DTCC but then removed
- Not yet approved, just securing the ticker name
- Sign of progress but approval still expected in 2023
How has MicroStrategy’s Bitcoin buying impacted its stock?
- Stock down despite Bitcoin being up significantly
- Shows risk of company buying crypto on balance sheet
- CFO says will continue to buy BTC aggressively
Why is it important to take profits and have a trading plan?
- Market pumps don’t last forever, corrections expected
- Taking profits reduces risk exposure on volatility
- Having a written plan removes emotion from trading
00:00 – Show intro
04:20 – Tom Emmer wins House speaker nomination
05:50 – The entire crypto market
11:10 – BTC weekly, daily & 12h
19:15 – What are bollinger bands?
21:10 – CME Futures analysis
23:10 – $200 trillion incoming?
23:55 – BlackRock ETF removed from important list
30:00 – Court orders SEC to review Grayscale ETF application
33:10 – Grayscale partners with FTSE Russell
39:20 – Ark Invest trades the market
40:00 – Mastercard working with Metamask
44:10 – DVDX upgrade coming soon
47:00 – Here’s why MINA is pumping