MARKETS in the MORNING, 9/9/2026, BTC $79,300, XRP $1.42, Gold $4,396, RTY 2,944, DXY 98 transcript

Here we go. Here we go. Here we go. Here we go. It is markets in the morning. Let's go. [music] Hey, what's going on everybody? This is the blockchain backer bringing you the latest cryptocurrency news and analysis. Welcome to Markets in the Morning. Today is Wednesday, September 9th, 2026. This is Markets in the Morning, where we take a look at the price action of the cryptocurrency market, including the Bitcoin price chart, the altcoin market, the total market cap of crypto, XRP.

We'll take a look over there at the stock market, which is set to open up in 28 minutes from right now. Look at gold, silver, whatever. Uh the dollar, we'll see how we're feeling at the time. And then of course we'll wrap it all up with looking at any type of financial news or any type of crypto news as we kick off the halfway point of the week. I hope that you guys are doing well as fall starts to roll in. Kids are back in school.

Didn't take very long for those kids to get back in school and bring home the snotty noses to our house. And [sighs] lucky me, I got it. Anyway, happy Wednesday everybody. Wednesday. [music] It is Wednesday. It is Wednesday, my [music] Wednesday. [music] All right. What up everybody? Thank you so much for tuning in to Markets in the Morning. I appreciate you all for being here. Uh I didn't get a chance to hang out in the uh in the waiting room in the beginning.

Uh Chief Tane again, brother, thank you so much. He always gives 50 memberships right at the beginning of it. Dude, thank you so so much. Uh hope you all are doing well. Markets have been pretty tame. You're going to have to excuse me if in the middle of the stream just guys I hate doing it. Maybe you'll hear me go silent for a second. I'll try to mute myself each time I do it. If I have to like cough or sneeze or do something like that, I will try to mute it.

Just kind of bear with me throughout this thing as we go through it here. Um, market's been pretty tame here for the last couple of weeks. Obviously, as we shuffled our way back up there kind of like in the second half of August, really that week of August 17th through the 24th, shuffled our way back up to that 50week moving average. Of course, we just been kind of stuck there. The main theme, of course, for these last few weeks has just been that we only do these types of things uh once we've come out of uh capitulation.

And we've come out of accumulation, right? I mean, accumulation can still work on in here, but being beyond the low, right? Producing all the divergences, pushing its way back up. The only time we ever get back to this moving average like this, of course, is when the low is beyond us. [snorts] So, that's just been kind of the theme as we sit here waiting in this range, which is not unexpected even in our B like this is the most bullish scenario I could create for you, right? like uh it it's hard to know how will we react at this 50 week style and structure will happen here at this 50WE.

But even our most bullish theoretical idea of uh that this market is still just going to keep shuffling up higher and higher and higher and the 40 to 50kers uh are left in an interesting predicament. It would be that we would range in here that it would be like similar to our last one. and it was like 25 to 30 days of ranging throughout here that it would kind of do something similar. And so, yeah, it's just it is what it is when we get stuck in here.

I'm trying to find new creative things to talk about after we've kind of just already shown the confirmations that the bottom is in. Oh boy. We'll see how long we can make this stream last. [snorts] Um uh all right. So, anyway, that's it. If you've caught the videos, clearly we've talked all about this different types of stuff. You know, we're back here at the 300 day moving average. At the same time, you can see it's real difficult when we get in here on what these shapes look and how long they last, whether they last four weeks, 8 weeks, 15 weeks, or whatnot, we just need some type of real sign to show up in here to push the price up.

Like, if we are just creating some type of range, if this whole 2-year structure we followed is correct and it is just rampaging off the lows, uh, you know, are we actually quite deep into that range already? kind of waiting for a bull flag to show up. We'll see. Oh my gosh. I keep having to mute it to cough, guys. I don't know how we're going to make it work today. All right. Uh anyway, we'll just we'll just go quickly is what we're going to do.

So, there's nothing new outside [laughter] of that right in there. Uh things look normal. Things look normal. Everything looks normal. Um like I showed in yesterday's video, of course, right? Like uh we still have Oh, look. We hit 100 there on the uh um on the breadth. So there you go. Prolonged period breath has hit 100 now. Right. It does. Just so you know that that doesn't mean anything in regards to like oh it's hit 100 now it's like and we're going to rampage because it hit 100 by any means.

It's just you know it just the whole market is participating right? Uh and so that's usually not usually I have to change that word. Uh that's always uh been the sign that the bottom is in. Whether it's a bare market bottom being in or even if it's just a range bottom being in. Sometimes we even only get tiny little flickers of it to show up in here uh to point out that the bottom is actually already in for the range.

So you know it's just again you know pointing all the way up. Uh we've got a full flicker on there of the breath. So things look really good. And of course the bare market acted identical to our 2022 bare market um from both uh time depth structure everything about it technical behavior with moving averages. It was just an identical bare market. Uh which was crazy which was why it was so hard for me when when people are saying this isn't a bare market.

It it's like okay [laughter] okay. Uh but yeah uh so there you go. You have all that uh XRP still sitting there at a buck 43 still ranging. Uh you know this again I was just going through all my data again. I think the biggest thing people are going to miss when it it comes down to it is like back in 2021 like the top of our market in 2021. Let me see. Can I go here? This is the top of our market, right? this is um laser eyes, Wall Street bets, Elon Musk, all the crazy alt season, everything.

And then even though we set this new high that, you know, most of the altcoins don't do it and it's totally petered out. Um I I've mentioned at times that I, you know, I have like back-end data just as a content creator. or I get like I can see other things like website traffic or um just lots of different little things that I can see and uh on my end it just very very clearly shows uh the peak of our bull market was back here uh back in January of 2025 and so that we've really been in a bare market for a very long time and we're well over a year and a half into a bare market and then when you look at the XRP price chart it just tells that story like when we when we discussed it in this manner and how like we're looking for capitulation to show up in here um and then enter into an accumulation range.

Uh that's because the top of the market was back over in here back in January of 2025 and it was kind of just that same kind of thing uh where you know we go up and we set a little new high in here but we don't have like increased u traffic or excitement or anything. It was really weaned out and then my own like content creation uh data shows the same thing. uh especially somebody who does a lot of XRP content, right?

Like when it comes to altcoins, like you know, XRP gets talked about more than any other altcoin in here. Uh that we didn't have uh this surge in excitement in XRP even though we were setting a brand new all-time high back there, just like uh in typical bears uh where where the bare market actually started back in January. Um, so, uh, the moral of the story is I don't pe don't think people are going to get it is that we're we're so deep into it.

Like, it's it wouldn't be weird for a bull market to start uh because it's been one year and 8 months since we topped. Uh, so it's been 20 months since we had the peak of excitement here in the crypto market. Um so anyway uh again the difficulties of where we're at right now you know whether this is going to be very quick whether it's going to take all the different various shapes throughout here back at the 50WE. Uh again reiterating this thing uh the expectation of course was to get back to these levels right that we've talked about.

Here's the capitulation that breaks through the 100week moving average. There's the back test of the underside of the capitulation followed by the FTX collapse and massive liquidation. We do the same thing in here. Back test the underside of the capitulation level. Then we have our massive liquidation. Then we get back up in here. So, we're really just stuck uh until this market actually shows its hand. And that's really how markets always are.

We go from one range to a new one and then we spend time in that new range and develop it. The thing is that people usually kind of get I'm psychologically beat down from talking about this range. here's 3 days of movement and then there's another one where we just get stuck in another range again and then there's 3 days of movement and then there's another range and it's always going to be that that the move out of the range is typically going to be very quick and then suddenly we find ourselves in a new one.

So that's just kind of where we're at right now. We'll wait for things to develop and um I won't. Yeah, I don't know. Just uh outside of saying yeah, we'll wait. [laughter] The the main thing is like the the thing I could do is just again harp over and over and over and over and over. Bottom bottom bottom bottom. I think I've done that enough. I think if anybody is listening to any type of thing out there, I don't see a single data point you could look at, right?

And that's the thing too, like so like we try to create the bare case and the bull case and like put every data point out there and to argue it to say how can we argue one way or the other. You just don't have one data point anywhere. You have none that don't tell you the bottom isn't in. So, I mean, I don't know. Is that what y'all want me to do? Y'all want me just to keep doing bottom in, bottom in? I could. I don't mind doing it, but you know, it's just where we're at, right?

So, we're just kind of waiting for ranges to happen. And these ranges within a larger range are always much more difficult on how they're going to do. But it's just kind of like if any dips come. Uh the thing I I think I keep harping on is like the conviction part of it is that any sideline capital [snorts] uh you know do what you will with it. So all right there you go. I I think that's really all we got for today. So it's it's a range.

We're waiting on the range to develop. I feel like I've said that in the videos and that there's nothing too crazy to say about that. Um I think think people are are kind of like next week, next Wednesday, there's going to be a Fed meeting uh with a 2/3 probability of there being a rate hike as of today, right? These things always change as we get closer and closer and closer. And it's been anticipated. I was going back through the newsletters even in June.

So 3 months ago, uh the market was already pricing in that we were going to have a rate hike this uh this year. Uh so this isn't some type of surprise that this is actually happening in here. So all right, moving over to news. Uh US denies claims Iran struck to American vessels in retaliation. Brent crude tops $100 for the first time. You uh since July, uh US two-year Treasury yields rise above uh rises as oil tops $100 a barrel.

Trump's energy portfolio has gained millions as Iran war moved markets. CNBC's official team valuations of 2026. Yeah, why do we care? Okay. Uh, what could happen if the Clarity Act fails to pass in 2026? Absolutely nothing. Oh, here we go. I'm on my I'm on my high horse. I told you guys over and over again, this is just it doesn't matter. Like this is what content creation is trying to focus you on to tell you oh we don't go up until clarity packs that they got you guys all wrapped up into this because that's all they can talk about because they couldn't talk about anything but the bare market.

They just blamed it on clarity. Well what happened? They didn't pass the clarity and then the market reversed. If you think for half a second you're going to have any level of alpha by focusing on the Clarity Act, you're setting yourself up to get absolutely annihilated by the market. Uh, Iran eases currency rules to bypass US sanctions with crypto report. Jack Dorsey's block seeks US trust bank charter for Bitcoin. Here's what happened in today's uh in crypto today.

Here's what happened in crypto today. Yeah. Okay. Gemini receives Singapore payment license for crypto services. New York town ways crypto mining and AI data center ban. Mexico quadruple homicide to alleged Bitcoin robbery attempt. Bitcoin faces key support test at 78.3,000 as US crude oil hits three-month high. Strategy skips Bitcoin buy to repurchase 176 million of dollars of STRC preferred shares. New York Town weighs crypto mining and AI data center ban and new Bitcoin whales spark sellside risk as unrealized gains hit 9 billion.

MetaPlanet's executive stock pool spark shareholder backlash as CEO addresses MMXX ties. I just don't care. I just don't care. Matt Grime says, "CB, I bet you wish you held more of that Zcash." Oh, if anything goes up, of course you wish. I just don't have a price target for it. I wrote it from $15 to 700. I took it on my on the face on the chin constantly for four years. >> [laughter] >> So, what I know for sure is none of y'all wrote it.

None of y'all did it. But y'all can chase that ending. I just don't know where you're planning on getting out at. That's my problem. There's a trade's a trade until it's not a trade. I just don't have a target for it. And for that, it's not something for me. But I cheer for everybody who's got it. You got it. Good for you. I I just can't pick a target on it. I don't have a thesis. All right, let's hop into the chat. Uh, again, uh, Chief Tame, brother, thank you, man.

I'm sorry I didn't get to you in the uh in the waiting room, buddy. I was running around doing a bunch of stuff before we started. Uh, Gino, I almost did it, dude. I almost did it. I practiced it out loud. He said, "Be considering the new intro. Consider this the new intro for Markets in the Morning." Here we go. Here we go. Here we go. Here we go. Your mom goes to college. Let's go. Uh, I did practice it five times out loud.

I considered it strongly. U, but I don't know what percentage of people appreciate my humor and then what people don't. [laughter] So, there's certain So, there's uh, you know, I don't know. I didn't do it. Travis, don't forget to tap that like button. Everyone remember member for 26 months, brother. Thank you so much, man. Yeah. Uh, Ripple references, you have thoughts about what Alex Jones had to say about XRP? I didn't pay attention to it.

I saw a bunch of people like yapping over there on X that maybe he got some information wrong about it or whatnot outside of a couple of short clips. I didn't really look into it. Maybe I should have. Uh, it's been a weird week for me uh being under the weather. It's funny though, like every time I tell you all that too, it's like uh you always get sick. You You're the most sick person. I know. I think it's been a solid year since I've gotten sick.

Uh but that those people don't have children. They're still children of their parents living in their mom's basement. Okay. Skyigh by. Thank you very much, man. With a little sticker. Uh, Jean Nuen says, "Would you consider putting your Bitcoin profits into XRP if you decide to sell Bitcoin at a retracement, assuming XRP has not moved?" Uh, I think if I did any rotations for me of what my portfolio is at currently right now, like I own a lot of XRP, but if I was going to rotate anything more into XRP at this point, I'd have to have a really strong conviction on the timing.

Uh I'd have to see something that like sparked the light bulb massively uh like we had back in November of 2024 uh where we had all the confluence is happening and it was like XRP it is time you may send uh because on this channel what do we focus on? We don't just focus on the XRP price chart. There was nothing like literally when that comment was made. There was nothing on the XRP price chart that said it was that oh there's there's something happening under the hood of XRP that it's time for it to rip.

It was that all the other conditions were there at the same time. You had Bitcoin going. You gotten through the election. You had the Russell going. You had everybody moving together. You had this big macro move all occurring and in Bitcoin expanding at the exact same time. And that's always the moment that XRP moves. It's never with utility. It's never with uh secrets upon secrets or clarity. Uh it's when the the absolute conditions are perfect.

So uh if I if I had arrived to Villa uh with my current bag right now, I'd be completely fine. Completely fine. I think XRP is about a third of my crypto bag. Maybe it's 35%. Uh so it's significant. Uh, but if it was to ever get any bigger than what it is, there would really have to be that super mega like light bulb absolutely blasting at that moment for me to to do that. Uh, otherwise, I'm I'm pretty comfortable just kind of being diversified throughout the entire cryptocurrency market right now.

Uh, Jay King says, "Is there a decent chance that XRP could sweep the dollar high before sweeping the$131?" um range low sure I mean it's just ranging all the ranges look different right this is chop zone for traders um and every and do you see and there's not consistency amongst them so will it won't it I I don't know um nor would I when I say I don't obviously I don't know anything but like the question is do would I have strong confidence to say I think it would I don't have strong confidence to say how I think this range is going to exactly play out throughout here right now.

[snorts] Jaxer uh thank you brother 38 months said happy frog day dad thanks for the pick me up and reassurance. Hey uh what do we need to make a bull run sandwich just a little breath. [laughter] There you go dude. Uh we did a uh I'll just I'll show this really quick because you've seen it a thousand times and I can move on from this chart. Uh obviously we need the breadth issue that we had of this is a good lead in because you're talking about breadth, right?

This is the difference between our current market and our last market is that we had no breadth and in macro markets at the same time. And that was just so fascinating to see uh how that correlation diverged throughout in there. Again, breadth was our big problem that we had back then. Okay, now this I showed this to the members live stream. For some reason, whenever I click on this chart, let's see if it does it again.

Notice how it takes a little while to load this thing. I can never figure out what took this thing so long to load. Why does that happen on this chart? And we went through the whole thing. We revisited. This is from Markets in the Morning. We revisited the whole how to cook a steak thing. [laughter] Dude, one of y'all better tell me that you did it over the weekend. Mr. Q, tell me something about F that I don't already know.

Thank you, Mr. Q. [snorts] Uh, data inspector BCV. Love you, man. I may have missed it, but is your breath indicator available on Trading View? No, it's not available on Trading View. One, it forces you guys to look at my channel, but two, the breath indicator does require constant um tweaks in it in regards to the assets uh within it uh because some assets are not available on certain exchanges. So, like maybe once every two or 3 months I have to make a little tweak on it.

Um, but no, it's not available. Uh, New York shave parlor 8592 says, "With the market being pulled back so hard for so long, wouldn't it slingshot up faster?" Not, not necessarily, right? I mean, this is the 2022 bare market. So like first of all let me say this is the best part of this market is that there is such a huge divergence between the two. Okay so like this is vastly different of what happened between these.

So it sets the the stage that it's like possible, right? Because typically when these types of massive differences are presented, see where we are right here versus right here. Uh we we can play this quick catch-up game to happen to the markets. We didn't have that back here, right? And so like looking at this bare market, this this is our 2022 bare market into 2023. Just because it came down literally this far and this long did not mean it recovered quickly.

So no, it doesn't make that assumption that you can you come back very fast just because you go that low. So they can give you an idea, right? like in in this one like our equivalent of when you remember when everybody was like fully convinced this was a full-blown bull market. We were going to rampage and roar and I'm like selling every day for like 60 days straight and I'm saying there's an absence of breadth. There's an absence of breadth.

Um the equivalent time of like the top FTX collapsing and everything for us that would be like November of 2027. I personally do not think it's going to take that long. Um, but my argument isn't that, oh, we came down so far, so that means we have to recover very quickly. Uh, my argument is we don't have the same macro problem. We don't have this absence of breadth problem uh that we had back then. There's a massive divergence Uh, thoughts, please.

Oh, wait. I I skipped something. What did I miss? All right. Woo. Whoop says uh Bitcoin friend of mine sent articles about billions of negative gamma exposure leaving shorts gamma makers off sides. Nonsense. Thank you BCB for simplicity. Yeah. Yeah. I mean people will always find things that will suit uh their cognitive belief at the time which is why people fell into the trap of September October uh because the the market had washing machined them right this is this got was a massive washing machine and it didn't matter that all the data was saying no no no that's not true you're you're holding on to dates right remember we went through and made like the bullet verse bear case we did that at the top uh we did it down here.

Um, and the you had to literally fight every single thing. There was nothing on the side of saying the bottom isn't in, especially just simply put, I mean, you had Bitcoin hitting 10.8 million coins in a loss. You had the percentage of holders in a loss. These were all FTX level events. Um, but people will grasp on to what they need to to hear I I can make up for my past mistakes and that's September and October is going to matter, right?

Uh, thoughts please on the apparent Coinbase sell for XRP around $30 and don't call me Shirley. I no I don't have any thoughts on that. Anybody can create that. I can log in there and do that no problem. But, you know, any person can do it. I can go in and put a massive cell wall at $1,000 and try to create a narrative. You know what I mean? It doesn't mean anything. Anybody can do it. Mike Christensen says, "Longtime supporter of the channel.

Uh, Moon Lambo is huge on this midcycle correction theory. I understand your stance. Just want to see if there's any argument for that." No, this is this was a full-blown bare market. it. Every single data point shows it clear as day. You if you call this a midcycle correction, then you have to like one, what midcycle correction lasts for two years? Uh what midcycle correction does Bitcoin go have the biggest losses in history?

Um, you know, you go look at every past bull market and tell me one bull market where prices are lower than they were a year prior to that. There are none. They're always higher. Um, it you know from the very top people have argued this wasn't a bare market and they just wrote it the whole way down saying that. So, um, if there's data and go for it. I've given you all the data. And that's the problem. People can't argue the data.

You can't argue the unchained losses. You can't argue this, right? [laughter] Like, uh, that's the problem. It's It's sad. All right. A guy with three first names. Uh, brother, 37 months. Thank you. over 3 years. Feels like the market has been down as much as it historically does. Not complaining if it does take off, though. Market hasn't been down as much as it historically does. Yeah. Right. So, like our percentage- wise, right?

Like that's the thing like uh people think of, you know, every bare market tends to be a little bit smaller than the last one. Um but the what was special about this one is there was no big move, right? So, it's like there's a big bull run, right? So, percentage- wise, that pullback's big to pull back down, right? This one teeny tiny itty bitty minuscule bull run, right? Then everything resets again. And so, percentage- wise, the fall isn't as deep because the rise wasn't very big, right? like our rise in our last bull run 3,000%.

Right? The rise in this bull run 475%. Right? The irony is that in US dollar terms rather than percentage terms, they were actually exactly the same, right? And so that throws everybody off. Uh, that's pretty ironic though, huh? Uh, down 2.27 trillion. Down 2.27 trillion. So, but yeah, if we're going to argue this isn't a bare market, then we argue that isn't a bare market. We argue we've never seen a bare market before in history, and then we're just changing the terms of it ever being a bare market. >> [snorts] >> Um, but yeah, I'm not going to get into that today.

Uh, Tango says, "Will the Fed raise rates before midterms?" Uh, I'm not a Fed expert to be able to guess what the Fed is going to be able to do. I can just relay you what the market thinks is going to happen because the Fed does tend to do whatever the market favors as the most probable outcome. Right now, the market has it favored as a 62% chance that they will raise rates next Wednesday. There's plenty of time for this to change and we'll revisit it in Markets in the Morning next Wednesday, which will be the day of the Fed meeting.

We won't live stream the Fed meeting, but we do markets in the morning, which is, you know, about 4 and a half to 5 hours prior to the Fed meeting. And we'll go through it and see what the market thinks at that time. As of right now, the market thinks that they are going to raise rates next meeting. next Wednesday. Kush shave. Uh, thank you very much. He says, "Bes, BCB, what narrative do you think drives IGV to a new all-time high?

AI failed to disrupt the software industry or AI is driving true productivity boost?" I don't know or nor care what the narrative will be. Uh if you remember like remember the best opportunity to buy right in here everybody and their grandma is saying uh AI is going to kill SAS companies right well it didn't it actually provided the best opportunity the narrative was not the catalyst to send it down the narrative provided the buy opportunity um you know I don't I have no idea what the narrative will be um and really that's the nice thing about being a chart analyst list is that I don't have to I don't have to care about any of it.

Um I don't have to care about any of the narratives because they don't matter. They're just to sell viewership. They're just to get you to watch and none of them matter for the most part. For the most part. So, Matt Grimes says, "If you all haven't noticed, these are loaded questions." I don't know what that means. Is that just a hater? I don't know. Matt Grimes is also asking, "What's a super cycle? Heck, if I know, have we ever seen one or is it a madeup term?" Damon uh Dammo says, "Bcb $5 XRP before end of year.

What are your thoughts?" Well, I don't think XRP is going to see a new all-time high until Bitcoin does or or until we reach this alt season phase. So, all right. We're going to keep it pretty brief today, guys. Um, I I think the market's stuck. If you caught the beginning of it, and you guys know for the last week, um, I've been under the weather. I've had to mute this thing quite a few times to do a couple of coughs and I I don't even know if I listen back to the replay what my nose is going to sound like throughout this thing.

Um we're just in a holding pattern. We're just in a wait right in here on um if we're going to end up just producing this thing. We're going to do this whole thing. If we do do we do all this stuff hopefully becomes a very exciting point in the market and but I don't I I do try to do my best to prevent myself from hyping you guys out of control or um creating um some type of false expectations of an incredibly quick market recovery.

But, you know, I look I look at this like this is very clearly different. Like could things happen faster than we typically see? I we typically do. I would think so. I would think we could definitely re uh recover much faster due to these types of things. Um if we are structurally producing this type of stuff, could we recover much faster? Yeah. Um, but you know, even so, like I I think if we did shove our way out of here and get through the 50week moving average, there will be no bare um and lower target arguments left for anybody.

I think people are hanging on to this 50we thing while they're trying to bite their time to hedge their words as much as possible because you shouldn't be caring about that 50week moving average based on historical precedent set by the market. But even if we get out of here, it it does become this stuff where we probably range out. Um, and this range in here could could potentially take much longer than, you know, this little range we dealt with or this one right in here.

And then we could enter a few months of this stuff, which would make sense to me if we're going to spend some more time really having to work throughout here on IGV and that this thing does eventually pull back, right? and then just really has to work its way out to finally bust out. Um I just I I would be shocked if that thing just flipped its way up and got out of there. If it flipped its way up and got out of there and then, you know, the Russell took another turn to the upside and things like that, then we could be arguing it's going much faster.

But I do think this is probably a multimonth process uh to have to work its way back up near the high. And when I say multimonth, I don't know if that's four months. I don't know if that's 12. I don't know how long it is um to get Bitcoin to work its way back up again, but I'm I'm betting that it's not going to take nearly as long as what we've seen in the past, but we have we got to wait it out. So, uh, top two books for TA, best book for understanding psychology of markets, Gerard.

Uh, I've never, uh, spent time reading actual books. Um, it's always just been browsing online, um, looking at lots and lots of resources throughout online and then, uh, thousands upon thousands of hours in the charts. It'd kind of be like, you know, who's probably more experienced, a guy reading a couple electrician books or a guy who's been a master electrician for 20 years. Just simply the guy who's been out there and had his hands in it for so long.

Nothing really kind of beats running into all the different scenarios and situations that you run into over and over again and problem solving them and figuring them out. And everybody's got a different style of of what matters to them too, right? Like I'm not going to be your source for day trading. Like I'm just not um I don't really enjoy it. And like there's an art to being able to psychologically do that in and out every single day and manage positions and uh do all that stuff.

And I just don't really enjoy doing that. Done it many times. And there's periods where the market's really hot and I'll I'll spend a month or two being really active in a really hot market, but it's not something that I'll do reg um but it's not something I'm doing regularly and don't desire to. All of Nashcaster, all of my character building has been against my will. That's probably very true. So, all right, we'll keep it brief on today's markets in the morning, you guys.

I think we covered all the news, which there was none. Uh, I think everybody's wondering about the Fed next week. Probably going to raise rates. At least that's the way the market has it priced in right now. Uh, range built range bound over here for Bitcoin. nothing nothing new over the last 3 weeks outside of getting back to that 50WE moving average. People of course wondering about their XRP, but it's just acting exactly like uh historical bare markets do.

Um and that's unequivocal and non-debatable and um gaslighting otherwise. Not Oscar. Dude, I was going to say something, man. If you were still here, dude, I was thinking about it before the stream started. I said, do I give him a shout out just to see if he's even here? says, "Thanks for always showing up for the stream. No sick days for the goat, bro." Thank you, dude. I hope you are doing well, dude. If you don't know who not Oscar is, of course, like there's the famous Oscar Hernandez um who hangs has hung out in the stream for years.

Uh he became so famous, there's a lot of parody accounts of Oscar Hernandez. Um, and not Oscar uh became a big name in here and everybody wondered if not Oscar was actually Oscar. But I have actually met Oscar Hernandez in real life and have actually hung out with not Oscar Hernandez multiple times in real life. So, thanks for being here, dude. I hope you guys are doing Oh gosh. Yeah, there's somebody mentioned. Yeah, the memecoin stuff right now.

We do it every time. This time will be different, right? Nobody will go broke. Everyone will get rich. Uh by Turbo says, "I hate to be that guy, but as you know, I don't and as I know you don't have a crystal wall to realistically see XRP ever hitting the 4.236 and getting 7 to8 this cycle. If the market goes into an alt season, that's its best chance to do it. It's just the reality of it. Like, it's super not sexy. It's not what all the YouTube videos you guys watch tells you, right?

The YouTube videos you guys are watching are telling you that clarity is going to pass and there's secrets upon secrets and ripple this, ripple that. Um, the the data is very clear, right? And then in all the YouTube videos, they just read tweets of other people's stuff, right? That's their whole model. Um, and they don't um vet anything that they're reading to you. They just want you to believe every nonsense fake thing written on Twitter.

Um, the the market's got to rip, right? If the market rips, that's its chance. Cloud. Thank you. Vier says, "What happened to Oscar Hernandez, though?" I don't know. He's probably here. Oscar Hernandez has a weird work schedule. Uh 42 Pro says uh BCB, we got a huge pump from the SEC XRP uh fielding painting games. Yeah, and I think so that's again proof, right? Like how many times we were told uh once the SEC lawsuit is over then it's going to pump, right?

Notice that caught a nice bid when um I can't Can I do on this chart? Yeah. Right. It caught a nice bid when XP was declared not a security but just a very typical retracement level that it gets back to not capable of actual true expansion, right? And then when true expansion comes, it's when the entire market is expanding. And so that's that's the thing. It's not too far away to get to a price like that. Let's look at this.

I think it's just goof off, right? and to get into that seven to eight range again. Uh if there's another uh expansion in alt season that happens throughout the market and the thing is that most altcoins aren't going to right most altcoins aren't going to set a new all-time high. Um I've written about this many many times on data. I've gone through it not to sit here and that's the thing like people always want opinions or they want this. we just go through the data, right?

If an altcoin draws down more than 94 95%, the statistical probability of it setting a new all-time high is 2%. Right? So, people always point to it and say, "Well, this one did it." It's like, "Yep, that's the 2%." Uh, the other ones historically do not. Uh XRP fortunately has had a very nice bare market and this has been a 73% bare market, right? That's a really good number in crypto. [laughter] A really good number.

Uh that places it in the top 10 of Shallow drawd downs. So what does that mean? there's an underlying bid that remained there, right? When so when an underlying bid remains, the statistical chances of it setting a new all-time high are significantly higher. Um I think when we went through the 2021 data, uh from the top 100, the statistical probability of setting a new all-time high was only 20% chance. Um if you drew down more than 95%, you only had a 2% chance.

[snorts] Um, but if you were like in the top 20 shallowest draw downs, you had a 65% chance of setting a new all-time high, right? So, for being such a major name, uh, a shallow draw down, do you have higher statistical probability of setting a new all-time high for XRP? At this time, it seems like it. So, Uh, Chesse says, "Can you do a video or a live on how to best utilize offramps during the bull run so we can sell quickly when the time comes?

How do you do it?" I don't really talk about the exchanges, right? So, that's kind of a topic I don't touch on and when it comes to actual exchanges. But guys, the major exchanges make it very easy. Yes. send your crypto to the exchange. You sell it and deposit it into your bank account. It's like super easy. It's like so easy. I think what happens is that content creators created this narrative that it's hard to offramp to shuffle you into their products that they're selling because it's really easy to offramp.

All right, that's about it for this one today, guys. I love you all. Thank you for your patience. Um, we'll see how it goes here throughout the next couple of days and if we can get this range to leave or something to happen in here. Uh obviously the big the big thing we're all waiting for is to see the weekly close happen above the 50week moving average and um we're not doing anything that's not historically normal by sitting here underneath it for several weeks.

We range history has put us here from anywhere between four and 15 weeks and that's just our waiting point right now. So all right, I'll check in with you here within the next couple of days. I won't leave you ghosted for the remainder of the week. You will have a video out this week. Uh, in the meantime, of course, check out the newsletter over here posted at blockchainbacker.substack.com with a 48minute audio recording.

Have yourselves an absolutely wonderful day. I can't leave you without one last frog. I apologize. [music] >> [music] >> It is Wednesday, my [music] Wednesday. All right, that's going to be it for this one. Thank you so much for watching. If you could please like this live stream and give it a thumbs up if you're new to the channel. I had to pause the cough. 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.