Bitcoin Hits All Time Highs AGAIN… Here’s What’s Next

Take a look at the price of Bitcoin now at record levels. The Bitcoin price continues to make new all-time highs. I want to share with you the real reason Bitcoin is going up as well as what's next.

You guys know this, we have states now that have passed crypto reserves, countries, sovereign wealth funds are buying it. I'll also share with you the latest altcoin news so you have all the information to make the best decision for you as an investor. That's why you subscribe to Altcoin Daily for an edge investing in crypto by staying informed.

And there's really five big reasons the Bitcoin price continues to go up. You will not believe number five, but number one, United States institutional investors are buying. These are the daily inflows into the US Bitcoin ETFs in May.

So, the US is buying. Number two, global liquidity. Maybe, just maybe, it was this easy.

We already know the Bitcoin price has a strong correlation to the global M2, aka the amount of money in the system, not just from the United States, but globally. If the correlation holds, that should at least take Bitcoin above $140,000 per coin in the next few months. And by the way, let's always double check this.

We can look into this ourselves. We'll talk about Golden Cross in a second. But if we just get rid of these simple moving averages for a while and turn on the global M2 index and we see although Bitcoin could have a little cool off short term, we see the run rate that Bitcoin still has to go.

And if we adjust this, we put it right here. That's 100% over $140,000 up to 180, but let's be conservative. Say at least 140.

Again, this correlation does not need to hold, but it has held for 80% of Bitcoin's existence. Reason number three out of five, again, this is before we get to this killer altcoin news. Reason number three out of five, the Dow sinks 800 points as the bond market starts to freak out over Trump's tax bill.

So Trump and the Republicans in Congress are in the act of passing a tax bill which cuts taxes significantly and the bond market reacted to the downside only because this is adding more debt to the country. And the bond market, if you're only getting 5% for locking your money in a 20-year Treasury or a 30-year Treasury, 5% interest for locking your money away for 20 years, not that worth it. So bond prices came down, yields have gone up.

So let's just talk about bonds in the simplest way possible. And I loved this explanation from global macro investor Raul Pal. Let me share it then react.

The tariffs were not the story. The story is and has been liquidity. And with bonds, there's a lack of liquidity in the bond market.

So we have a liquidity that's driving scarce assets, stocks, bitcoin, gold, crypto, but bonds which are not a scarce asset because guess what? They issue a ton of bonds squared um and they keep issuing more and more bonds. So what happens is bond markets start rejecting the issuance.

Bond markets are correlated to traditional markets, specifically the United States. And when there's chaos or change in markets, investors freak out. Yet, it's Bitcoin and gold, two of the only assets on Earth that are sort of seen as something else.

So, the more chaos happens this year, or just uncertainty. Let's just call it uncertainty. The more of that, the better for Bitcoin and gold narrative-wise.

And that brings us to the big one, number four. This is huge. Now, I do have to say, many of you were asking about this.

Sweet tokens are being hacked. It's actually SU's biggest liquidity provider hacked for over $2 million causing SU based tokens to plummet. The token specifically is actually their largest DEX.

So this would be like unis swap getting hacked on Ethereum which would be horrible. Cedus is SU's biggest liquidity provider and decentralized exchange. This was the exact update from Cedus as of this morning.

As of earlier today, we have confirmed that an attacker has stolen approximately $223 million from the Cedus protocol. We have took immediate action to lock our contract, preventing further further theft of funds, meaning the unis swap of sui is locked up for protection. 162 million of the compromised funds have been successfully paused, meaning they're frozen, which is good because that means the hacker can't liquidate them.

We are working with the SUI Foundation and other ecosystem members right now on nextstep solutions with the goal of recovering remaining funds. This is their highest priority and all tokens price-wise took a hit from this and that's not to say all the tokens were hacked hacked. It's just a narrative thing.

The wallet tied to the Cedus protocol exploit currently holds over 12. 9 million SU approximately $54 million the current prices. That is a fear that they liquidate that.

The good news and altcoin daily will always share you the full story so you have all the information to make the best decision for you. The good news is Sweet Protocol is an over 12 billion coin. Meaning if they sold 54 if they sold everything $54 million that's not even a 1% drop.

It also is worth mentioning that Bitcoin market mover Bitcoin has officially overtaken Amazon as the fifth largest asset hitting $2. 16 trillion market cap. This is that visualization.

Bitcoin just surpassed Amazon in value in market cap. It's now more valuable than Amazon and Google. And in order for it to eventually surpass Apple, the Bitcoin price would have to be valued at around $150,000.

So about another $40,000 to the positive 150k to surpass Apple. But also keep in mind Bitcoin and Apple just like Bitcoin and Amazon aren't really competing for the same market. It's actually Bitcoin competing with the gold market.

And that brings us to the fourth big reason that the Bitcoin price is going up. Stick around for number five. That's even bigger.

But number four, the golden cross, which happened as of yesterday or today. Bitcoin price rose into the golden cross, which we suspected. We've seen that every other time it's happened.

The golden cross has to do with moving averages. If you need a beginner's guide on exactly what I'm talking about, check out this video right here. Shocking things happening with Bitcoin behind the scenes.

We go into specifics on what a golden cross is. But let's just add some perspective to this. since the golden cross has already happened.

And that's when this yellow 50-day moving average crosses over the 200 day moving average signaling short-term bullish trend change. We see right here Bitcoin rose into actually rose into that 50day uh rose into that golden cross then actually dumped into it on the day and then we're in a bullish uptrend. Bitcoin immediately started going up.

Next time we saw that happen was at the end or the time before we saw that happen was in 2023. Again, uh the golden cross is a lagging indicator. So we saw the Bitcoin price rise up into it.

Every was everybody was expecting this huge monu monumental thing. But we know on altcoin daily it's a lagging indicator meaning the event already happened by the time this happens and Bitcoin just sort of traded sideways. Nothing big came after.

And again, we see a similar sort of thing in mid 2020. So, what does that mean to you? That means this is a big reason Bitcoin went up.

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You must use code altcoin daily. Link down below. But speaking of this golden cross and I would actually also say the stable coin bill which is expected to be passed as early as this Friday.

So two big events pushed us up what I would suspect and I cannot see the future. Make your own decisions. I would expect a little pullback.

Not today but the days following the golden cross maybe on Friday or the weekend after the stable coin bill gets announced. Maybe it'll be buy the rumor sell the news. The good news is as long as we stay above this blue line right there.

It's already on screen. 69 or let's say $71,000 Bitcoin. Anything else is still an uptrend.

Anything else is still a higher low. I do not suspect will dip as far as $70,000 at worst, just like we've seen in previous golden crosses before. We'll ride along the 50-day moving average.

Right now, the 50-day moving average is around $93,000. Maybe in a few days it'll be 94. It may not even happen, but if it does, that would be a healthy pullback.

And now the big one, number five, click the like button if you're getting value in today's video, but it should be noted before we get to Bitcoin. Cookie Dow, which I'm an adviser for, they are decentralizing infoi, meaning a crypto data layer specializing in AIdriven reality, but just as just a data layer for the blockchain. Being of a Google background, when I came across Cookie3, I was like, Cookie3 is the Google of web 3.

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Well, it's a rewards and airdrop campaign that tracks and ranks ex users by their social engagement and sentiment. Some of you guys on crypto Twitter heard of KO's Yaps. That was essentially a loyaltybased bonus system.

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Cookie. comfun. And that of course brings us to the fifth reason Bitcoin is going up because there's a scarce mathematically scarce supply and there's global FOMO who finally understand years ago this was not clear.

Now this is clear. It's understood that volatility is baked in. Meaning entities and individuals are buying Bitcoin today.

They don't care that Bitcoin's at $110,000 because they're holding it with a 5year, 10year, 20-year outlook. Join us at the Bitcoin conference next week. We are speaking with Eric Trump, Justin Sun.

They're on our panel as well as the CEO of Kraken, uh, higher up at e Toro. It's going to be so cool. Use altcoin dailies as a code.

Like always, we see you tomorrow.