MARKET KEEPS BUCKING on Bitcoin Price Chart, Altcoins & XRP, Don't Sweat Clarity Act, Personal Story transcript

[music] Hey, what's going on everybody? This is the blockchain backer bringing you the latest cryptocurrency news and analysis. Today we'll take a brief look over here at the total market cap of the cryptocurrency market which still sits right there at that 50week moving average. The story is obviously exactly the same over here for Bitcoin. The good news of course is that we've seen this time and time again in literally every single bull market recovery.

Deal is we usually just have to wait a little while for this to pan out. And that's really just kind of been the theme of the videos for the last couple of weeks. The price of XRP is no different. really just kind of jammed here between that 300 week and that 50week moving average, which is exactly where it nailed right there back in mid August, but still just following the exact same timets it has for all past bare markets and really sitting exactly within the center of the ranges of where it typically does as the winds tend to change and the market starts to go into recovery.

Typically, it's a huge process for us to be able to revert back into a bull market. I get it. Hey, we go through an entire bear. It's great to find the bottom. It's great to see signs of reversals showing up, but our immediate reactions is usually to head towards when are we going to the moon? How quickly am I going to be filthy rich, right? And patience is not something that the crypto market typically has a lot of.

And uh I think that's even representative of uh how popular meme coins have been in the last couple of weeks. That itch needs to be scratched really quick, right? You go back just a a month ago uh and you have well over 50% of people in the cryptocurrency market thinking that we're going to go see the 40s to 50ks. They're very conservative with their capital and then all it takes is one green candle and then boom, what do we see?

Lots of risk appetite return. Lots of memecoin trading happening, right? Impatience, right? I'm ready. Okay, I I get it. We're bullish. Great. But I'm impatient. How can I chase stuff really quick? And and meme coins get really excited all over again, right? But typically there's a big process we have to go through for really the whole crypto market to move up. Memecoins are kind of their own little animal that happened on chain.

And historically speaking, we need to see, you know, Bitcoin cooperate in here. That's going to translate into the total market cap of crypto. And it's all just going to be one big giant picture all being painted together. And obviously our first phase of after recovery to start hooting and hollering and hoping for things to get excited is to get through the 50we. Typically, historically, we've got to get through way up in here before things really start to get super exciting.

But we can really just kind of see this wherever we go. Whether it's Bitcoin, whether it's the total market cap, whether it's XRP, or whether it's even athereum, we just see it. It's that 50Week battle that's happening right here for the market. You know, you got a lot of people all focusing on the clarity act today. For me, it's it's a nothing burger. Um, in my opinion, it's really just there's been nothing to talk about during the bare market for most, you know, content creators.

And so it's been the main thing to talk about. Each time I've gone to events this year, people have approached me with like I can't tell you how many times this happened. People said, "Hey, when do you think we're going to moon?" And then before I can open my mouth and answer the question, I immediately get told it's going to happen once the Clarity Act passes. Um that was not a one-off event that that happened. That happened multiple times this past year in real life.

I' I don't know why they even asked me in the first place. They already tell me it's going to happen once the Clarity Act passes. And so there's a lot of content and you guys know it. I've kind of joked about it in videos and in live streams that, you know, I think it's just a carrot that's being dangled. My personal thoughts are is probably influencers probably hope it doesn't pass. Uh because that way that carrot can continue to be dangled for longer.

And then if it does pass and it doesn't instantly lead to riches and all-time highs very quickly, which is what really everybody feels like they've kind of been promised is going to happen once clarity passes. Then what? Right. a new carrot has to be dangled. So for me, the Clarity Act is a nothing burger. I don't care about it if it doesn't pass. If it does pass, it doesn't mean anything to me. I'm very much a technical oriented person.

I think we just have to be able to get this thing to bust out. I think the underlying fact that, you know, the Russell 2000s at new highs, there's this big divergence between the crypto market and the Russell. All the onchain metrics and all the technical metrics that have happened here on the charts are all just like what we would expect and and clarity meant nothing. Uh, and e even when we went into the August recess in here and the Clarity Act didn't get passed, everybody's like, "Oh, doom." The market rips the opposite way, right?

And the way I like to think about it too is is think about it when the SEC case ended with Ripple, right? All the all the appeals were dropped. That marked the literal top of the market, right? For years, you know, oh, when this moment happens, that's when we go to the moon. Uh, well, the market actually topped at that moment. So, what became the new narrative? The new narrative became, well, when clarity passes, that's when we go to the moon.

I may be mistaken, but doesn't XRP already have clarity at this point? Is it really actually necessary that it gets it? Like, hasn't the SEC already determined this like pretty plainly and openly that XRP is all good to go? Why do we need this clarity act, right? Or we we just need to make sure we open the door for everybody else. I don't know. [laughter] I'm not going to get too much into it. But, you know, obviously, just from a technical perspective, we're just waiting for this thing to pop.

And I wouldn't be surprised if there's just like a a little scare wick that comes out here before, you know, it ends up popping out of there. Uh, but it's very hard to know. And we talked about this a lot in the past videos. We've seen it take four weeks, 8 weeks, 15 weeks for it to be able to bust through that 50 week. Typically, once we get through the 50WE, that becomes our support for the bull market and we're all good to go.

The hardest part is speculating at the reversal zone to try to get it. And that's what we really worked heavily on here during 2026 after we went through capitulation back in February as I entered 80% of my capital at the literal lows which very grateful for. Um but we still need a little bit of work to get our way out of here and it's just going to take a little bit of time. However, with it being Clarity Act day, you guys know I don't really talk about it.

But I do know a lot of you guys for some reason do put a lot of equity and emotional equity into it. Uh I'm just here to tell you I don't think it even matters whatever ends up happening to it. even if it causes a a short-term price move that ends up happening in here. That what's going to probably happen anyway. The thing that we really need is to see expansions happen. If you want your altcoin to go to the moon, it's not going to be because the government passed some type of act.

Uh it's going to be because there's the actual conditions present throughout the market. We've seen it before with XRP where it got like a nice little pump that happened back here when Judge Taus ruled that XRP was not a security. However, the market conditions weren't ready yet for it to be able to go into an actual bull run. It took all the market conditions that XRP it is time you may send because you had the Russell moving at you had Bitcoin expanding into a new all-time high.

You had everything really lined up for things to kind of get exciting in the market at this particular moment in time. You could see some short-term action happen from, you know, some type of catalyst, but it's not going to be enough to like cause a bare market or be enough to cause a bull run to trigger, especially an event where people are like so hyperfocused on it and have been for over a year. And my personal thoughts are people just hyperfocused on it because the influencers had to shift away from saying that the SEC case is what matters because what ended up happening with the SEC case, it ended right there and that ended up being the top of the market.

And so we shifted to talking about clarity, right? So I only come to you to say I have no idea what's going to end up happening on whether it's going to pass or whether it's going to fail. I'm just here to tell you I just don't think it matters and uh to hopefully put people at ease that I I do think it's just content creation had to focus on it tremendously because there was nothing else to talk about during the bare market.

And the good news is we didn't ever paid attention to it on the way down. We just paid attention to the technicals, the price behavior, the onchain information and we'll just continue to do the exact same thing. So market looks good. I'm looking forward to today being behind us and seeing how all the content pivots around it. Will there be a new carrot to dangle or will they still have the same carrot to continue dangling?

It doesn't matter. The market looks good. It takes work to get through this stuff, but I wouldn't put too much equity on whatever ends up happening with the Clarity Act. So, there's a clear shift that has already happened in the market. I published a newsletter earlier this morning showing how altcoin leaders are emerging. Memecoin signal risk appetite. Like we just talked about market weights on Bitcoin and history shows what starts alt season.

It's not clarity, right? There's very simple things that happen in this market that show when the altcoin market can take off. We are actually already seeing altcoin leaders emerge. We spent a lot of time over the last couple months kind of going into developer activity, percentage draw downs, utility, top market cap, uh demand leading to value acrruel within tokens. And so we went through to really see how do or how have the results been so far since June's low based on different categories and and what's working well.

There's a very clear result. Uh and we wrote an entire newsletter going through this a couple of months ago, actually about a month ago, talking about that value acrruel mechanism uh in which tokens actually do have that value acrruel mechanism. Uh we also talk about meme coins if you haven't been paying attention that has been tremendously popular recently. Um that again is another bullish signal that happens in bull markets and at the lows.

We actually saw something very similar happen back in 2022. A lot of times there's a lot of misconception, you know, hey is memecoins, you know, getting exciting. Does that signal the peak of the market, especially with what happened with Trumpcoin, right? But again, it's another positive signal of the market that is happening right now. That's something that doesn't show up in bare markets. So, this is available over here at blockchainbacker.substack.com.

Just like the last one. This one has a 48minute audio recording with it. I record these after writing them. It was a doozy. It's taken a week to put together. I'm happy to have it released today. I do think there's alpha within here. So, I hope that you enjoy it. I mentioned this in markets in the morning. I am the number four best seller in crypto on Substack. I mentioned it like maybe a month or two ago and I was like, I don't know how I'm supposed to like push myself to become number one.

Uh but I've been thinking about it. If you want to support my work and help me get to number one, sign up for the newsletter at blockchainbacker.substack.com and I am certain you will walk away feeling that you've learned something uh throughout the various issues. And of course, you get access to all the past ones at the same time. There's a link down here in the description of this video to the newsletter at blockchainbacker.substack.com or you can just go directly within your browser.

So, I'm exhausted. I've been working on this all week. I've worked through the entire weekend. Um, I haven't had a day off in a week, which you guys would probably think is crazy cuz last week all I had was a video on Monday and a markets in the morning live stream on Wednesday and that's all you got from me last week. Um, but uh this is going to kind of conclude the content of this video. I'm going to share something with you guys that has been kind of going on in my personal life uh over this last week.

Kind of a conclusion to a story that you heard about about a year and a half ago. Um and you know the name of the game uh with what I do regardless of whether I get sick and have C19 or if I have the flu or if I have anything, I still come on to the show. Uh the show must go on because I do take, you know, what I do here on the channel with a lot of pride. Uh it's a lot of responsibility to come on here and sometimes I have to kind of walk a fine line on whether or not you know should I be going on, should I not be going on.

Uh but you know, today is Tuesday, September 15th. Uh uh this past Sunday afternoon, my mother-in-law did pass away, which of course is my wife's mom. You guys know we've been battling the stage 4 pancreatic cancer journey since April of last year, so going on 17 months. She entered hospice about two months ago and it was really expected that we only actually had a couple of days at that time. Uh somehow someway I mean I understand what happened but she did actually bounce back quite a bit and ended up making it almost 2 months.

If she would have made it till Monday that would have been 2 months but she was one day shy there on Sunday. Uh and she did pass away in her sleep. Now it's a long journey there. You know, it's a interesting thing to go through something like that because um you go through the grieving process multiple times over the course of 17 months. Um it's not like a freight train kind of hits you right there at the end. It's kind of like you were constantly hit by the train the entire 17-month time period.

So over the last 17 months, there's been this very dark cloud that has really kind of hung over my family. And I go back and I look through the price charts and think about a lot of different things and different times and just kind of reflecting back on when like surgeries were happening or emergencies were happening like you know when XRP hit the all-time high there in July of last year, July of 2025. Um I remember my mother-in-law was going in for surgery for like a colosony bag, right?

And my wife was gone for 5 days at that time and you know we thought that was the moment. There was a lot of grieving happening there. uh whether there was like a prolapse that happened and 6 months later all these various times where we were fully convinced it was the end and you go through the complete grieving process thinking it is happening and then even as recently as going through it with hospice there just two months ago.

My wife was gone for I think 24 days straight and then she fully bounced back. She was eating, talking, drinking, moving around, and it was like, wait a minute, did the doctors get it wrong? And then last week, there was just kind of this turn that happened. And then by Sunday night, she was gone. So there is the sadness that comes along with that and anything like that that happens in your family. And but it is a weird moment in time to say there's also a little bit of a sense of relief at this time.

It's been 17 very difficult months. U like I just said with the show must go on. It didn't matter what was going on in my personal life or what was going on with my family or the dark cloud that was happening at that time. The show had to go on and I came on here and I guarantee it most days where things were bad you didn't know it. Now in my position I'm used to it that you know I kind of take it on the chin on social media if you're not aware of that.

[laughter] It's part of the gig. I understand it that it comes with this and I try not to take it too personal and really I just don't really reply to anything or spend too much time on social media in general. But, you know, it was really eye opening too, you know, especially attending church events and talking to men my age and kind of explaining what's going on and then hearing stories from other men at the same time is that the reality is is I'm not special just cuz I have something going on in my life.

Everybody has something going on and in one way or another. We look at these markets and we sometimes think ourselves off. That price goes up. Boy, I'm going to be happy. But I just told you the story of where she was at surgery and my wife was gone for five days and the price of XRP was hitting an all-time high. I can tell you in that exact moment in time, I wasn't really that happy. Yeah, my biggest bag was at all-time highs, net worth all-time highs, but in general, what was happening in my own personal life wasn't really making me very happy.

And in the end, when we go through all of this stuff and we're analyzing these markets, we're having to have patience or we're thinking, you know, when the price goes up, then I'm finally going to have happiness. Reality is life is just going to happen to you along the way. And in the end, you're going to have to find a way to find some source of happiness on that journey that isn't just tied to crypto or to money. Money makes things more comfortable.

It makes things easier. But in the end, your happiness is likely going to come from the relationships that you have, not from the fancy watches or attracting friendships or girlfriends or boyfriends, whatever it is, by flashing your worth. It's just going to come from the relationship. So, you know, for these last two days, obviously, it's been the show must go on. And I've known this, right? I actually even saw it happen on video.

So, I watched her pass away. And I thought to myself, that's going to be a hard thing to explain my audience that the show had to still go on, even though I knew this in the back end and didn't tell them. But over this last, you know, year and a half, I've tried not to make my content be about that. It's been what's my life has been about, truthfully, for this last year and a half. It's been very dark. It's been very tough.

It's been hard on my family, but it hasn't been what the channel's been about. And so, the reason I'm telling you this and have like this big monologue here at the end is I'm going to be taking a couple of days off here. There won't be a markets in the morning tomorrow. We're having a viewing tomorrow. I'm going to try to have some fun with my kids. I'm going to try to be there with my wife and, you know, her brothers and family members and just kind of be present there.

You know, I'm okay. Like mentally, I'm all right. Like, I'm good. I'm emotionally stable through this. And I've had somebody tell me, you know, you don't always have to be like the strong man of the family in this. And, you know, you don't have to put on a show. You can you can be sad. And it's just, you know, it's really hard to explain to somebody what happens when you go through something like this for 17 months. There's been the times to be sad.

There's been those moments. So, if you're going to pray for me and if you're going to pray for my family, of course, pray for my wife. Pray for my kids. Pray for everybody. Um, but also pray for, you know, the new chapter in our lives. Pray for the sunshine to return again, which I'm very confident is coming. And pray that everybody in my family knows that. So, all right, that's going to be it. I come to tell you that today, of course, you know, after getting a video out yesterday, getting a video out today, getting the newsletter out today, and just letting you know, I won't be here tomorrow [laughter] or the next day or the next day.

But I'm okay. My wife is doing very well. Of course, sad, but doing very well. And I'll check in with you guys very soon. But um on that note, I'm going to go ahead and wrap it up. I want to thank you so much for watching. If you could please like this video and give it a thumbs up. If you're new to the channel, please subscribe and hit the notification bell so you can be notified of when I create new content and when I go live.

As always, this is not investment advice and I am not a financial adviser, but if you ever need a pickme up or a little bit of reassurance, just remember that the blockchain backers got your back. Have a good one. [music]