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I wonder if Bitcoin was a little bit sort of the off-ramp for everybody that wants to have something a little bit more speculative. Bitcoin is down. Sentiment is shaky and bears are getting loud again. Any purchaser of Bitcoin has to think, all right, what are the real use cases? Do not be fooled. The night is always darkest before the dawn. There is reason to have hope if you have a long-term outlook.
I think these are all short-term effects. I think Bitcoin is the new digital gold. I think it's going to be a key part of our economy going forward into the future. So, I'm as bullish as ever because underneath all this fear, massive developments are happening behind the scenes that could easily change the direction of this market quickly. Today, we cover crypto's biggest news stories. My name is Aaron. This is Altcoin Daily. Hey, do me a favor. Take two seconds smash that like button, hitting the like button, caressing it. It's a small thing you can do, but it truly does help your favorite content creators grow. A lot of news is
happening today for crypto holders. Let's start here. US Bitcoin ETFs hit record outflows on track for the worst month ever since launch. So, the Bitcoin ETFs have been around about 2 years now, and this is the worst 30day outflow period in ETF history. These are institutional class buyers, individuals who are buying through Black Rockck or Fidelity or whatever. Today, they finally capitulated. As Wall Street whales sell, other onchain whales are buying. Wales absorbing all the Bitcoin sell orders from retail and Wall Street investors. Billionaire investor Felipe Leafant, he has been very bullish on Bitcoin through the years. Today, says, "I don't know what to think about Bitcoin anymore. I'm more interested in
AI, space, and IPOs." This is how a lot of Bitcoin ETF sellers are thinking. Talk a little bit about Bitcoin. Do you still wake up and say, "Why am I so stupid?" And they wake up at 3:00 a.m. in the morning. Why didn't I buy more? I always wake up at 3:00 a.m. and I always literally think about something. Yeah. But now it's not Bitcoin anymore. I don't know what to think about uh Bitcoin anymore. The one thing I was wondering with Bitcoin is there was a time where there were very few IPOs. Part of it is I think the public markets are a little bit broken with so many index funds and stuff. Everybody thinks the same. I wonder if Bitcoin was a little bit sort of the offramp for
everybody that wants to have something a little bit more speculative. Yeah. Now that we have this big IPOs on one side and then we have stable coin on the other and stable coin involves the word stable. So if you really want to just put your money offshore, put your money in a new system, you can go through stable coins. Frankly, stable coins more or less are already paying interest. I don't think there really are, but there's schemes where you get these like rewards and stuff like that. So, if you want the just the stable coin, you can there's fabulous IPOs coming out. There's SpaceX, there's going to be some AI. And I just wonder like, well, where is Bitcoin now? When I speak to people
about Bitcoin, it's a bit like a cult. You're either in or you're not. So, that's just my new thoughts on Bitcoin. I'm a little bit more worried and I would rather bet on is space going to quadruple over the next 20 years or these intelligence models going to be like if you think today the market cap of the world is 70 trillion of the US 60 to 70 let's say maybe it's 130 140 in 10 years it could be let's say 200 plus is there going to be a 10 trillion dollar company in 10 to 15 years I find that debate and trying to figure out which of those company might be a $10 trillion company. Sort of easier for me than figuring out where is Bitcoin going to be in 10 years. And yet, like I show
you on altcoin daily all the time nowadays, there are so many bottom signals lining up. Capitulation is happening. Capitulation has happened. 10.5 million Bitcoin in loss has marked every major Bitcoin bottom. 10.5 million in loss here, here, here, and here. That same signal is flashing again. So, Wall Street begged for a Bitcoin ETF for years, then used it to panic sell the bottom with a record 6.4 billion net outflows in 30 days. Remind me who the smart money is again. That's altcoin daily subscribers. We are the largest crypto community in the world. Stay updated on crypto everyday by subscribing and watching every day. This
is such an important chart. Most people don't show you things like this. We do literally no more longlever liquidation liquidity left on ETH. Meanwhile, there are billions upon billions of leveraged short liquidation liquidity to the upside. Everybody's betting Bitcoin and ETH are going down. Not a lot of people betting anymore that Bitcoin and ETH are going up. Another reason why Bitcoin and all risk asset holders are short-term bearish nowadays is because in a turn of events, the market is now pricing in a hawkish Fed with two to three rate hikes this year. Higher for longer is officially back. This is what the market is pricing in. We talked in depth about this issue in our video on June 17th.
Make sure you check out our video here for more information on that. But again, there are so many shortterm bearish catalysts, yet so many long-term bullish catalysts. And Brian Armstrong zooms out and kind of lays out, you shouldn't be thinking about this in the context of the next year, but in the next decade, in the next several decades, even in the next 5 years, Brian Armstrong says, "I think by 2030, we're going to have a much higher price." And he says 60k is the bottom. Is never as bad as it seems with these things. You've got to take a long-term perspective and I think over the last few quarters, you know, the reason that Bitcoin has been down, everyone's been kind of trying to figure that out. I
think it's a few things, right? I think AI absorbed a lot of the risk capital. It's kind of hard to imagine people talking about anything else at the moment besides AI. And so that's that's moved over. And then people got really excited about stable coins um because the Genius Act passed and we had some regulatory clarity. And so stable coins kind of became the new meta and uh maybe you know Bitcoin with its inflation type trade that people have done in the past got a little less exciting in this environment where it felt like um okay maybe we're going to grow our way out of this and the inflation won't be so bad.
Now I think these are all short-term effects. I think Bitcoin is the new digital gold. I think it's going to be a key part of our economy going forward into the future. So I'm as bullish as ever. I think sometimes people look at these four-year cycles that Bitcoin goes through as well where you can kind of see the percentage of people who are who have made money versus not. And I, you know, my instinct is we've probably have bottomed at this point maybe at the 60k number, but nobody can say for sure, of course. Um, I'm optimistic as always. I think by 2030 we're going to have a much higher price. And I'm long Bitcoin just like always.
Update on the Clarity Act. The White House is still racing to save the Clarity Act as White House crypto adviser Patrick Wit is leading talks with Democrats to get the Clarity Act moving forward in a bipartisan way. The main sticking point at the moment is an ethics rule the Democrats want to add which would restrict crypto profits tied to elected officials including Trump's family. But it's the ethics issue. It's the stable coin yield. There's a few sticking points. I really don't know if they're going to be able to pass this before midterms. It is bullish that they are trying to push this forward. Congress scheduling Clarity Act hearing July 17th. Mark your calendars. We've never been closer to getting this
passed. But of course, the Clarity Act has been kicked down the road for almost a year now. So July 17th, field hearing entitled Building the Future of Finance: How the Clarity Act Unlocks Innovation. They need to clear 60 votes, meaning at least two Democrats need to vote yes. They have to do this before the August hardgate recess. Will they be able to pass this before the midterms? You tell me what you think below. You give me your thoughts. To be honest, if I had to bet, it just doesn't seem likely at this point in time, but anything can happen.
It very much still 100% could pass. So, Bitcoin is consolidating near the lows, but there is a lot of support right here. Bitcoin is holding the 200E moving average. Bitcoin is still above the February lows. This megaphone is still intact with, you know, euphoric greed happening near the top of this megaphone and just bearish fear happening near the bottom of this megaphone. But price is retesting the broken downtrend now. And there is a bullish divergence. So again, a lot of support right here. So this is the hardest part of the Bitcoin cycle, the slow, boring middle where price chops sideways, sentiment stays depressed, everybody moves on to stocks and AI, you start questioning whether your
conviction was ever right. This is where patience gets tested the most. Pat yourself on the back if you're still present here because a lot of people have capitulated. A lot of people have left the space and yet so many remain and so many new buyers are stepping up. The market is rebalancing. Chain link has flipped Cardano by market cap. Moneygram now an active Salana validator. So where are we in the market cycle right now? Are we capitulation? Are we depression? I would tend to think we're somewhere around here. Hope you got value in today's video. Hit the like button if you watch till the end. And if you're still here, please consider subscribing and watching every day. The
crypto market is coming back with a vengeance later this year and next year, and you want to start taking your education around it seriously now. My name is Aaron. See you tomorrow.
