We are in the Calm before the storm once Bitcoin hits 70k once ethereum reclaims 4K altcoins are going to explode every Cycle after Bitcoin clearly surpasses All-time highs altcoins always explode This happens for two reasons it's called The Wealth effect Bitcoin and ethereum Holders feel rich and they realize well I can't get as good of a percentage Returns on these high caps anymore they Feel rich so they put a percentage of Their earnings into the lower market cap Plays and then also new participants Entering the market in droves as they Usually do they feel like they missed Out on bitcoin and ethereum the high Caps and they put their moneyy into the Lower cap plays there is a lot of Bearish sentiment right now but keep in Mind we're consolidating near all-time Highs we're going to break over soon Time is ticking we keep grinding higher I just want to show you what's going on In the world 45% of Bitcoin supply has Not moved in 6 months this metric used To be 70% 80% right now it's 45% when we Get to the top of the market this metric Will drop down to 10 20% maybe even Single digits now until then so many People entities businesses governments They continue to build and more Importantly they continue to buy Asia's Micro strategy metap Planet buys another 500 million worth of bitcoin they're
Doing the same thing Michael sailor is Basically and this is the microor of Metaplan so metaplan a Japanese public Company recently known for its steady Bitcoin accumulation has acquired an Additional 500 million worth of bitcoin This latest acquisition brings metap Planet's total Bitcoin Holdings to Around 303 Bitcoin valued at nearly 18 Million this move came after the company Announced last week it secured 1 billion Loan dedicated entirely to purchasing Bitcoin metap Planet also revealed plans To raise another 70 million through a Stock rights offering allocating Approximately 58 million for further Bitcoin investment Goldman Sachs is a Bitcoin buyer Goldman Sachs now holds 238 million in black rocks Bitcoin ETF Shares Matthew mcdermit the bank's Global head of digital assets called the Approval of the spot Bitcoin products in The US a big psychological turning point So Goldman Sachs is among the Wall Street Titans backing black rocks Bitcoin ETF Goldman Sachs was named an Authorized participant in black rocks ETF in March after reportedly engaging In discussions to take the role earlier In the year the Holdings of Goldman Sachs position Goldman as black Rock's Third largest holder right behind Millennium right behind capula Millennium holds approximately 844
Million in black rocks Bitcoin ETF Capula holds around 253 million and in Addition to Goldman Sachs being one of The largest holders of black rocks Bitcoin ETF Goldman Sachs also Reportedly holds large positions in Fidelity's Bitcoin ETF with around 1.5 Million shares valued at 80 million and Over 660 shares of grayscales Bitcoin ETF valued at 35 million the banks Investment Portfolio also includes over 56 million in Invesco Galaxy's Bitcoin ETF as well as Stakes and other funds Like bitwise Wisdom Tree Arc 21 shares In an interview with Fox Business last September mcder said the approval of Spot Bitcoin and ethereum ETFs would Enhance liquidity and attract the Universe of Pension funds Insurance Firms and other institutional investors To crypto and that's exactly what we're Seeing just in the state of Wisconsin Investment board's investment in Black Rock's Bitcoin ETF has grown to nearly 100 Mill million with an increase of Almost 500,000 shares since the last 13f Filing and Wisconsin's just one of the Multitude of States doing this and we're Seeing more and more States doing this The fact is Bitcoin has been profitable For 96.2% of its life as Bitcoin is Consolidating near all-time highs over The past
5,109 days Bitcoin has been profitable For 4,915 days so it's not timing the market Necessarily as it is being part of this Monetary and Tech Revolution time in the Market we are on the precipice of a huge Explosion take a look at the chart this Feels eerily similar to August through October of last year retail interest is Evaporating fast apathy among existing Market participants lack of a clear Narrative and the Bitcoin price chart Looks identical too ironically this is Probably the best time to lock in Accumulate study new protocols make sure You subscribe to our Channel last time That we had a period of sustained Contraction in 2023 the subsequent move Upwards was violent just have to hold on And stay focused until then like I said A big move is coming I wonder if non Bitcoin holders know about this chart And know about what happens every time Bitcoin clearly breaks through alltime Highs this is what most people consider Being rich and wealthy is this is what I Consider being rich and wealthy is and Expert Arthur Hayes Echoes my thoughts Says altcoin season will return When Bitcoin hits 70k and ethereum hits 4K Former bitmax CEO Arthur Hayes believes Altcoins will explode when Bitcoin Surpasses 70k and ethereum surpasses 4,000 in a recent blog post the Crypt
Billionaire said that both Bitcoin and Ethereum have shown resilience despite Recent recent Market correction largely Due to structural support from inflows From us listed exchange traded funds Hayes also claimed that salana could Resume its uptrend and reach over $250 however he argued that the Market-wide impact of a salana rally is Far less significant compared to the Wealth effect generated by Bitcoin and Ethereum due to their large market caps Hayes suggests that a dollar liquidity Driven rally in Bitcoin and eth towards The end of the year in 2024 will at the Stage for the return of an ALT season or Widespread surge in altcoin prices and We see plenty of entities nowadays Positioning themselves for exactly this You know Brazil is launching the world's First spot salana ETF ahead of global Markets according to IBM's former Blockchain growth lead a potential Salonic ETF approval in the US could act As a significant price Catalyst for Salana according to Dave the co-founder Of Palisade a ripple-backed digital Asset custody platform for he says Brazil has been one of the pro crypto Jurisdictions since they first Introduced the Bitcoin and ethereum ETF Years before the US did it has also kept Up with Europe's friendly stance with Respect to its etps or ETFs we first saw
The salana ETP in Switzerland some time Ago etps are just like ETFs it has also Been trading in German markets people in The US have been asking for a salana ETF And now they might get it PayPal's Stable coin Supply on salana actually Just surpassed ethereum since PayPal's Expansion to salana in May of 2024 the Supply of their stable coin on salana Has reached 377 million tokens Overtaking the 356 million tokens on Ethereum the stable coin's total supply Has now tripled exceeding 733 million Tokens valued at 733 million the growth Of PayPal's stable coin on salana has Been fueled by its integration into Centralized exchanges like Jupiter Orca Where PayPal stable coin has been added To liquidity pools coinbase is coming Out with their own version of wrapped Bitcoin on the base chain and actually Speaking of coinbase the crypto giant Has resumed its operations in Hawaii Ending a 7year absence according to a Bloomberg report the return to Hawaii Comes following notable adjustments in Local regulatory guidance which prompted Coinbase's renewed interest in serving The residents of of Hawaii home to Approximately 1.4 million individuals Citizens of Hawaii can now engage in Cryptocurrency trading and participate In staking activities to earn interest On their digital assets coinbase's
Departure from Hawaii in 2017 was Primarily attributed to the state's Requirement for digital asset businesses To hold a money transmitter license and Maintain Fiat reserves equivalent to the Total value of digital currency funds Held for customers however this barrier Was lifted at the end of June grayscale Starting new altcoin funds we reported To you yesterday bit tensor andu Grayscale just launched an investment Fund for maker aptose is crushing it Yeah they're not as big as ethereum or Base but they're nipping on its heels And there's a lot of room for growth Aptos Tech is crushing it yesterday saw 50 times more daily transactions than Ethereum 10 times more transactions than Bas Bots or not as this is a Permissionless network after all let's Be honest how many chains could have Handled a spike like that Aptos handled The volume surge without skipping a beat Lfg injective and ton blockchain Becoming interoperable bridging Partnering like this so much is Happening in crypto my friends subscribe To our Channel join our team I hope you Realize like I do we are on the Precipice of the greatest Bitcoin crypto Bull Run of all time
