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The last four times this happened, Bitcoin's price surged. It just happened again. I have news that affects crypto, Ethereum, Solana, SpaceX, and Bitcoin. Elon Musk, SpaceX holds more than twice as much Bitcoin. This is signal, but with a golden cross upon us again, what comes next for Bitcoin? Because a golden cross is when a shorterterm moving average, typically the 50, crosses over a longerterm moving average, typically the 200, signaling a momentum shift to the upside. Anybody trading on Exchange Partner WEX, there's a link down below to follow along as well as a special bonus link below. But a golden cross is about to happen. And
again, we can look at the last four times. Even though you can go back eight times, you can go back 16 times. I want to go back from the last bare market because we are in a bare market today. What happened at the very first golden cross of last bare market? By the way, this was at the beginning of 2023. FTX had just collapsed months before we were in a bare market. And zooming in, we notice two things. Number one, we usually rally into the golden cross and have a small dump afterwards. We saw this again. Rallied golden cross here. rallied into the golden cross or virtually nothing happens afterwards. So shortterm we either dump right after it
or do nothing, consolidate right afterwards, but long-term it does signal the momentum shift and what comes next. And Donald Trump did just send a bold message to crypto holders. This was under an hour ago. Trump will never let crypto down. He goes on to say, "We will codify, meaning make it into law, a futureproof digital asset market structure that cannot be undone by the crypto haters." The new frontier of finance is being built in America and Trump will never let crypto down. We have signal from the president as well as bipartisan support the chances of this actually happening are now likely according to Bloomberg.
Yeah. So, we saw Genius um come into or get signed last year. So, that's been a really good thing for the stable coin industry. We've seen more consumer protection with the yield backing and the dollartodoll um requirements with this with the Genius Act. Um Clarity had a huge week two weeks ago, right? So, we had the Senate uh banking committee pass it on a bipartisan basis, which is great. So, now it goes to the Senate Agriculture Committee to combine the two versions of the bill. And you know, this is one of the biggest moves we've seen for legislation in the US for digital assets um to date. So, we're all super excited about it and the momentum is building. Uh if you look at the poly
market and the cowi odds, we're over 50% likely that this is going to pass, which is huge. Um and the sentiment from a timing perspective is there's a push to get it done before the interims. There's momentum. And if you take a step back and you think about everything that's going on right now in the world, the fact that the administration and um DC is this focused on our asset space, our legislation is huge. It means that it's very important. Again, it's bipartisan, which we haven't seen before. We had two Democrats vote for clarity to move forward, and we're all just very optimistic about it. Well, maybe they saw what happened in the midterm, not in the midterms, in the 2024 election and the way that the crypto industry lobbied behind certain
candidates and spent many, many, many millions of dollars. It was the largest single issue pack donations that we had seen. It 100% drove the election results. Like, there's no question about it. So, um, digital assets are here to stay, blockchain is here to stay, and I think we're starting to see support on both sides of the aisle. By the way, click subscribe to Altcoin Daily for an edge investing in crypto. Because while this golden cross, it should happen in about one two days. There are more metrics that help us paint a better picture. For example, the US spot ETF net flows. We shared with you in yesterday's video the big sellers specifically from the ETFs.
It's still happening. We can see the outflows in red. This is just as big or almost just as big as the outflows from the ETFs back in February. And that breakdown, the breakdown that took Bitcoin BTC to 60K in February, the huge crash is not having the same impact on the market today. So ETF outflows are running around $700 million a day, close to the February prince that drove prices from $100,000 per BTC to 70K per BTC. This time the price is holding an unidentified bid is absorbing. Possibly the Bitcoin Treasury companies propping us up. So this is bullish, but this is bearish. Bitcoin open interest drops below 55 billion, down 14% from when BTC
was trading above $80,000. So what does this tell us? Open interest is waning. Less interests interest in the market is not good. That shows less money coming in. What I would love to see is this getting bigger. If price was staying the same and open interest was searching higher, that'd be bullish. We don't want to see open interest getting lower. That means people are elsewhere. They're on AI. They're on macro. They're trading oil. We want them back in Bitcoin. We want this to go higher. And looking at the daily exchange volume for all of crypto, so not just Bitcoin, all of crypto. This is all exchange volume for the past 12 months. Volume is decreasing. This confirms interest is waning at the moment. I need to see this
start ticking back up. If volume was coming up, a signal will be when daily exchange volume starts ticking back up. Even if price just stays the same, even see, we've been rallying and volume hasn't really picked up. To me, that suggests we are going to see a dump after the golden cross. It's nothing new. We've seen it before, but long-term it does not invalidate the trend. Keep that in mind. By the way, anybody trading, pro tips, if you want to trade, the safest way to trade, make sure your margin mode is isolated. That's what pro traders, that's just the safer way to trade. And whether you're opening a long, whether you're bullish, whether you're opening a short, you're bearish.
And by the way, you don't have to trade Bitcoin. You can trade any of the top cryptos. I would say at least, they should at least have 50,000 in volume. If there are volumes in the millions, that's even better. At least you don't want you want to avoid the low volume altcoins. That's how you get wrecked. But anybody trading, make sure you check out our video, how to actually make $180 per day trading crypto for beginners. We go over some basic strategies. And when we combine our trading with fundamental news, that helps us paint a better picture. Staking. Ethereum staking ratio reaches 32.4% marking an all-time high. meaning a greater percent of Ethereum's supply is being staked more than ever before.
Meaning the people holding Ethereum, they're not really interested in selling at these levels. They're interested in staking. If they were interested in selling, we'd see the staking start to go down, people taking profits. We saw that the sellers to me seem exhausted and very bullish news for Solana and ETH. SoFi, which has millions and millions of users on their app, launch SoFi USD stablecoin across ETH, which is what we expect, very bullish for ETH, but they also chose Solana. So the new news is we're launching SoFi USD on Salana. We're really excited about it. We think that it is the right chain to use um for payments um partially because of the cost, partially because of the settlement speed, and ultimately the throughput.
Again, we see the fundamentals improving. If we go to any of these coins, we'll check out Sana always has huge volume and price is waning. Price looks depressed. Price looks horrible. We first need to see a confirmation and then a breakout and then maybe Salana has its golden cross. And while we reported this to you a bit the other day, SpaceX reveals a $1 billion bet on Bitcoin. They have to disclose this before their historic IPO. According to an SEC filing on Wednesday, Elon Musk SpaceX holds more than twice as much Bitcoin as previously estimated.
Here to break it all down with us is Bloomberg's Ed Lelo, co-host of Bloomberg Technology. Ed, Elon Musk's view on Bitcoin have swung between endorsement to skepticism. Where does it stand right now? Yeah, there's a big difference in the SpaceX story between the what and why of these Bitcoin holdings. So, as of uh that regulatory filing, they hold 18,712 Bitcoin and the average purchase price over the history of the holdings. It's like $35,000 US per token. So, Bitcoin costs them about $661 million to acquire. The value of the holdings is $1.3 billion. And like the way that SpaceX would tell it is what are they treating this as? Basically, it's held
as a Treasury reserve asset just in the way that cash or bonds would be. but by a custodian third party. That's very different to saying like, well, what is Elon Musk's attitude to it? You don't get that from the filing itself. Listen to the response. Elon is using Bitcoin for its intended purpose as a store of value, a strategic reserve for SpaceX. I mean, Tesla accepted Bitcoin payments before and reversed course. Do you think the same will happen with SpaceX? It's never, but it's never really taken off. And you know, I think that SpaceX, right, remember this is an S1 where
everything has to be completely buttoned up in disclosures, be they boilerplate or very real warnings to investors ahead of the IPO. And this is a very sophisticated um finance or treasury or at SpaceX. So that's reserve cash or reserve asset seems to be the logic outlined by the doc. If you got value in today's video, click subscribe, join our team. It's completely free. It cost you nothing. And we are trying to hit 1.7 million subscribers before the end of the year.
