00:00 Speaker A
The next story starts with a video. It’s not really a story, but it’s a story of sentiment and it it it carries a thread through that I’ve had on a number of these shows over the past few weeks.
00:06 Speaker A
You know that I believe that Bitcoin is likely in the process of bottoming. It does not mean the bottom’s in. and a lot of that I rely on sentiment indicators. And we have a video of two of my friends, Mike Novogratz and Anthony Scaramucci talking about Bitcoin. It’s very brief, but listen to what Anthony Scaramucci says in this video right now.
00:27 Anthony Scaramucci
What I love about this right now is that everybody hates it.
00:32 Anthony Scaramucci
You don’t hate it cuz you’re too smart to hate it, but you have no energy for it. Okay? I don’t have any energy for it. I mean, let’s just be honest, you know.
00:44 Mike Novogratz
Yeah.
00:46 Speaker A
I love these guys, but I got the energy for it.
00:50 Speaker A
I’m 49 years old. I feel like a 21-year-old kid when it comes to making these shows and talking about Bitcoin. But I think that their sentiment is exactly right. You know the meme where there’s a guy standing in the corner of the party and he’s like, do they even know that dot, dot, dot. Well, Bitcoin is like the loser guy now in the corner of the party in that meme watching the SpaceX IPO and AI and prediction markets and all of the other casinos from the corner, right? And And so, I think that these are generally good indicators that we could likely be bottoming when even the biggest bull say they don’t have the energy for it and that everybody hates us.
01:21 Speaker A
Do you think that’s more of a top signal or a bottom signal? And we can continue to contribute more stories of likely bottom signals from previous cycles. We have this one right here. This was actually the main topic of my story uh of my show this morning on YouTube. Bitcoin sell off leaves half of all supply trading at a loss.
01:39 Speaker A
This is the first time that a majority of the holders of Bitcoin bought Bitcoin at a price higher than the current price, right? When’s the last time that happened? The dead bottom in 2022.
01:54 Speaker A
This has been yet another somewhat reliable indicator of market bottoms in the past and reflects exactly what we know and what we’re hearing from Anthony Scaramucci and Novogratz right there. I I want to show you once again something I’ve showed you multiple times, but we have the crypto fear and greed index.
02:12 Speaker A
In and of itself, it’s not an indicator that the bottom is definitely in, but it shows you that sentiment still remains in extreme fear. This can go as low as 5, six or seven. But we have had in this cycle a historic run of extreme fear on sentiment.
02:27 Speaker A
Once again, you know, you want to be careful being bullish when everybody’s screaming about new paradigms and is euphoric. and you want to be very, very careful about being extremely bearish when everybody is talking in fear, saying that everybody hates Bitcoin, saying irrationally that one bad candle is going to liquidate Michael Sailor and strategy, and that they’re going to be the next Luna because there’s no math or rational thinking behind any of that.
