Bessent Just Made His Move. Is Bitcoin Ready? with Kris Bullock & Bijan Maleki | Trading The Market - September 9, 2026

Bitcoin and crypto are tightening into key technical setups as the Treasury prepares up to $6 billion in bond buybacks. Bijan Maleki and Kris Bullock break down the catalyst, the $83K level that matters most, and which crypto sectors are showing the strongest momentum. Plus, they dig into the sectors showing the most relative strength, including DeFi, meme coins, NEAR, PUMP, Uniswap, Curve, Morpho, and more. They discuss why real revenue, token value accrual, and product-market fit are becoming increasingly important in deciding what’s worth owning. 👉 Have a question for Kris? Join the live show every Wednesday at 1pm ET in the RV Discord. Register here: https://discord.gg/FTQsrUhD9Z. 🔥 Get 𝗙𝗥𝗘𝗘 𝗔𝗖𝗖𝗘𝗦𝗦 to Real Vision https://rvtv.io/3YOZZUe Timestamps: 00:00 - Trading the Markets: Crypto Coils for Its Next Move 01:14 - Treasury Announces $6 Billion Bond Buyback 04:11 - Bitcoin, Ethereum & Solana Look Coiled for a Breakout 06:03 - Solana & Hyperliquid Show Relative Strength 08:31 - Fed Rate Hike: What Would It Mean for Crypto? 10:56 - Bitcoin at $83K: The Bull Market Confirmation to Watch 12:27 - Bitcoin’s Four-Year Cycle: Is Another Drop Coming? 16:08 - Ethereum Breaks Out: Is ETH Finally a Buy? 20:24 - Canton Struggles as the Token Loses Momentum 22:19 - PUMP Outperforms as Meme Coins Heat Up 25:09 - PONZ & the Robinhood Meme Coin Trade 27:20 - Sui, NEAR & Zcash: Which Crypto Looks Strongest? 32:49 - Raydium Rips as Solana Gains Momentum 35:49 - Robinhood Stock: A New Way to Play Crypto 42:14 - Should You Dump Weak Altcoins for Market Leaders? 46:07 - Uniswap & Curve Lead the DeFi Reversal 51:49 - DeFi Opportunities: Syrup, Morpho & Aerodrome #bitcoin #crypto #btc #ethereum #altcoins #cryptocurrency #cryptomarket #cryptotrading #bitcoinprice #treasury #liquidity #bonds #interestrates #macro #trading #investing #defi #realvision Learn more about your ad choices. Visit podcastchoices.com/adchoices

• 0:06Speaker 00

  Happy Wednesday, everyone, and welcome back to another edition of Trading the Markets. This is the show where we take your questions live, so if you have any, drop them in the live chat on platform or here on Discord. And we look at the charts and, you know, we just try to see what's going on in the market. I'm Bijan Maleki and of course, we're joined by Chris Bullock, aka Blastoplast. Not as action-packed as we thought it might be today, but you know, hey, that's just what it is in crypto. Some days are crazy, some days are you're waffling, and some days are you wish for the boring days.

• 0:50Speaker 00

  So, without further ado, Chris, happy Wednesday. How you doing?

• 0:54Speaker 01

  Yes, very good. Yeah, kind of like I said, we're sort of the calm before the storm still is, I think, the better way to describe it. One of the things I made the mistake of yesterday when we talked about what we were going to talk about today on yesterday's show, I was, I mentioned the FOMC and then I realized after the fact that the FOMC isn't until next Wednesday, not today. So, I screwed that part up. But, the Fed bond buybacks, or I'm sorry, the Treasury bond buybacks, that did get announced today. And if you kind of, to recap a little bit, they talked about initially doing $2 billion worth of buybacks and then Bessent came out and said, maybe we'll do more than two, like maybe four. And so, the official announcement actually dropped this morning, which I have here, and

• 1:37Speaker 01

  they decided to do, oops, they decided to do 6 billion, 6 billion in buy, or billion, rather, I'm sorry, billion in bond buybacks. Now, that said, they have the list of the bonds that are going up for sale. Just because they're allocating 6 billion to that does not mean that all 6 billion will be spent or all of those bonds will be bought back. It depends on the price and the, just if it's a good deal or not, basically. And so, tomorrow is the actual auction, so we have to wait until tomorrow at 1:40 PM, that's when it starts Eastern time, to see what the actual real outcome is.

• 2:18Speaker 01

  We know it's a maximum of 6 billion, but the actual reality could end up being a bit less. So, what that means is what we're going to look for, these are 10 and 20-year bonds, so we're really going to see what that does to the price of the 10-year yield, which is what I have pulled up here. We want to see this come down. That's, that's really the goal here. We want to see the 10-year yield come down, we want to see like the dollar go down, and we want to see just, you know, things start to move in a more favorable direction. So, I'll be looking for that. We'll be looking at the dollar to see what it does here. And I think if both of those can start to go down, that will, that will further improve

• 3:00Speaker 01

  financial conditions and will start, that will be beneficial for crypto, that will be beneficial for gold, less so for stocks, but still beneficial for stocks. So, again, wheels are in motion, good things are likely happening. And then, of course, we do have the rate, potential rate hike next week. It's kind of, it's inching into closer to 60% territory that we do get an actual rate hike next week. But I think the big takeaway from that is, while yes, that is a thing, the liquidity actions that the, that the Fed is taking, that the Federal Reserve is taking on this bond market is actually going to be more impactful in the long run than any rate hike, any, you

• 3:44Speaker 01

  know, 25 basis point rate hike is going to do. So, that's what's really going to make the difference. And so, that's what I'm looking for. So, that's going to be the big watch in terms of what we're, what we're seeing with crypto, what we're seeing with yields, what we're seeing with rate hikes, all of that stuff. So, what I want to focus on today is just where is everything at from a crypto standpoint? Because there's a lot of really good setups, actually, let me go to this chart here, it's a little cleaner. There's a lot of really good setups that I'm seeing where things have coiled sideways, they've consolidated, they've waited for the moving averages to kind of catch up. Remember, I was like, well, let's see, let's wait until the 10-day catches up first and see what that looks like. And then, it caught up to the 10-day and kept grinding sideways.

• 4:28Speaker 01

  And I said, okay, well, let's see what happens when we get to the 20-day. And now, across, almost across the board, pretty much with all of these, we've got this similar pattern where it ran up, it's consolidated sideways, and now we've got both the 10 and the 20-day moving averages pretty much met up. And usually, when this happens, when we get a setup like this, this, this pattern here with the, the 10 kind of going up and then going sideways and meeting the 20, this is like a really strong signal most of the time. Usually, when we see this, it's like coiled for launch, you know, I like to say, and all it's going to take is a good upside catalyst to have it rip to a new level. And we know right now, that level is that 83,000 that we've been looking at, this, this yellow line right here.

• 5:10Speaker 01

  And so, I'm hoping that tomorrow, we get these bond buybacks, that drops the 10-year yield and we start to see stuff start to move. So, I'm, you know, too bad it's not today and we can't talk about it already and it's not happening, but that's what I'm looking for. That's the, that's the sort of outcome, that's the pattern I'm seeing. If we look at Bitcoin, it looks like this. Ethereum looks almost identical, if not arguably a little bit better. But, I mean, again, just perfect sideways consolidation, very little retracement. In this case, the 10 and the 20 are perfectly overlapping and, you know, it's, it's ready to go. Solana, very similar, not quite, quite exactly, but I mean, there or thereabouts, you know.

• 5:53Speaker 01

  So, a lot of these look really good. We can go through a bunch of different ones and ones that you guys want to, you know, request to check out, but a lot of them look like this. There, there's been a few, like if I zoom out to the weekly timeframe, there's been a few that have really outperformed more than, than most. Actually, Solana is one of them. And what I, what I'm looking at there is, you know, I go back to this, this first week, we had this big breakout week. And if we're, you know, if we continue to trend much higher after that big breakout week, that's definitely relative strength compared to the rest of the market. Like, let me go back to Bitcoin here. Bitcoin is like, yes, it's a little bit above it, but not nearly as much as what Solana is. And it kind of stalled out and arguably, it butted up against the resistance and got rejected at the 83,000.

• 6:38Speaker 01

  So, it's more of a sideways consolidation. But when you go back here and look at Solana, you know, Solana's green three weeks in a row and it's, yes, it's bounced a little bit back down, but just a much stronger signal. And like Hyperliquid is another one like that. It's, well, not as good, but Hyperliquid has done it. What was the other one? Was it Curve?

• 6:59Speaker 01

  No, Curve's been, Nut Curve, Venice, I want to say. Well, either way, a lot of these look really good. They're a lot better than, than where they were, you know, three weeks ago. So, again, I go back to that being the benchmark. Is it above where it was at the close of the weekly candle three weeks ago? If it's above that, I'd say it's a strong contender to rally out of whatever big news we get over the next week, you know, starting tomorrow and then going into next Wednesday when the FOMC meeting is. So, that's kind of the, the quick and dirty of it. I mean, really, like I said, I'm, I'm watching what the, the dollar index does. We can see that liquidity has continued to run up, which is good. And, and overall, just financial conditions continue to remain fairly neutral.

• 7:43Speaker 01

  So, I, I think really, it's, it's, it comes down to what the bond market is doing and bond yields. And if those can kind of come off the ledge a little bit, especially the 10-year and the 30-year, if they can start to roll back over, that's going to free up more money. And I think we're going to see it come into gold and we're going to see it come into crypto. And I think, you know, we're poised to get another leg up. That's my base case. Obviously, it's going to depend on, again, how many of those bonds are bought back. It's going to depend on what the, the, what WASH ends up actually doing for the FOMC. So, it's a wait and see, but I think, you know, probably better than 50% chance, we get favorable outcomes in both of those and it results in another leg up. Obviously, I hope I'm not wrong, but that's, that's where I'm at.

• 8:27Speaker 01

  So, I think things generally look pretty good right now.

• 8:30Speaker 00

  So, what happens, so you said 6, I think you said 60%, the odds are around 60% for a rate hike, right? What happens if nothing, like they, no hike, it just stays the same? Does that, does the market like that or, because it's, they were, they were pricing in a rate hike and it didn't happen? Or like what, what happens there?

• 8:53Speaker 01

  So, if nothing happens, I default back to what the Treasury is doing. And the Treasury is buying back those bonds and injecting kind of more, not injecting liquidity, not like QE, they're not injecting new money into the system, but they're making liquidity available. Let's just say that. They're putting it in the correct channel for it to make its way into the likes of gold and crypto. Is maybe a better way to frame that. That's happening regardless. We already know that's happening based on the announcement that came out today. So, if there's no rate hike, we already have the bigger, what I consider to be the bigger bullish catalyst anyway. If we do get a rate hike, then it's like, well, okay, how does the market actually feel about this? Is the, is the bullishness from the, the Fed action still good, big enough to outweigh

• 9:35Speaker 01

  this meager 25 basis point hike that you could argue is largely priced in? And if that's the case and it continues to rip, then I think that's an even stronger signal. I mean, that's telling me that the market says, we don't care about a rate hike, we like this liquidity over here, we're going to continue ripping. And, and I think that's something that will be sustainable in that context, because that's, that's saying that, the, the market's saying, we're on board with basically this, this plan that is being executed right now. If there's a rate cut, which I don't expect there to be, I think that will be bullish too. I think, again, really regardless of what happens on the rate side, the Fed, what the Fed's doing with the bonds is the bigger catalyst.

• 10:15Speaker 01

  And so, just, to what degree of a catalyst will be sort of finely signaled by the, the rate hike side or not?

• 10:27Speaker 01

  Personally, I think if we get a rate hike and it rallies, then that's like, it's probably, you know, we get a rate hike, it rallies, it closes above 83. I think at that point, it's time to start going in heavier. You know, it's start, it's like, okay, we got confirmation. This is the confirmation we're looking for. We got kind of negative news in terms of a rate hike, but we've got this liquidity coming in over here. And the market said, I'm still going to keep going and it closes above 83. That's going to cement a new, larger weekly uptrend structure. Let me go back to the Bitcoin chart here. If we can get above here, that will be a significant higher high than we've set back in May. That will start, you know, that will cement a new uptrend.

• 11:09Speaker 01

  Also, we've got the major moving averages, the 20-week moving averages, the 200-day moving averages in an uptrend. And if we can close above this current resistance level, again, that is structurally a new bull trend on a larger weekly timeframe. So, yeah, there's a potential here. There's a potential setup for us to get a pretty good confirmation that like, the bottom is in and it's, it's going to rip for a while. But we're not there yet. We have to wait. I mean, again, we're still just below the surface. We're still just at resistance. We're still waiting for those final signals. So it's like not time to pile in full on just yet. But I, to me, again, things are moving in the right direction, I should say.

• 11:54Speaker 01

  So just be patient. Don't get excited. Don't, you know, don't blow your wad too early. But I like, I like where we're going here.

• 12:04Speaker 00

  I feel like you're talking directly to me on that, Chris. And, and it was well received. I need that reminder. So question, great question here, Loopy. So the four-year cycle people, Ben Cowan, Bob Lucas, et cetera, are still expecting a drop lower before October, November. What do you think, Chris?

• 12:27Speaker 01

  That's a good question. And I do respect both of those guys. And I do kind of see where they're coming from. Let me, let me kind of think about that for a second. So what I'm looking for, let me, I go to this chart here. And this is like the weekly, this is the monthly, like the monthly mega trend, the monthly cycle chart, if you will. This looks at, you know, here we are, month 35. We're coming down to month 40, we're on month 46 right now. As in terms of the lows, like you can see these cycles, they go up 35 months, down 47, 35, 40. So we're on month 46 right now. Month, next month would be month 47. That would complete the four-year cycle in the same, you know, vein that it has played out the last two or three cycles.

• 13:12Speaker 01

  So, yes, in the, next month, October is the next month, not September. So we're in month 30 or 46 right now. Next month would be 47. I don't know. I mean, it's like, you can make a case for it. I think really what happens is the, the more we push up to the upside, the less likely that scenario comes. And even if we do get a drop, I don't know that I see a new low coming in. I think a new low is very likely off the table at this point. I think it would be more like, we kind of, let me kind of just, you know, draw something out here. It would be something more like, I don't know, we break up through here,

• 13:56Speaker 01

  we get a consolidation, maybe it just hovers around here. Maybe then it loses this level and it sort of comes back down to these, to these big moving averages down here. So like, you know, these, these guys right here. So like the, the support level around the, the high 60s. So something like that, I could rationalize, that makes sense to me. But I don't see us like breaking down, you know, into the 50s or lower at this point. I think that that's, the odds are very, very low at that point of something like that happening. So, and really, it's just going to kind of come down to what, what the feds are doing, what the Fed's doing with the buybacks and what, what worse is doing. I mean, because a lot of this stuff is really, it's been in flux and is moving a lot

• 14:39Speaker 01

  and has influenced a lot based on, you know, the Iran stuff, the inflation stuff, based off the price of oil, things like that. It's very just in flux right now. And, and what the Fed is doing and what the, the Federal Reserve is doing and the Treasury is doing rather, to, to kind of combat things and to kind of,

• 14:58Speaker 01

  whatever, assert themselves and manipulate things, if you will.

• 15:03Speaker 01

  You know, will dictate what we, what happens in the markets. And so it's, it's unpredictable. And in that case, sure, I could make a case that maybe something happens and it does drop back down. But I don't think it has to happen just because we've got another month left in the cycle. Like to me, that's not a good enough reason.

• 15:20Speaker 01

  You know, not every cycle is, is exactly, I mean, yes, it has been thus far, but not every cycle has to be whatever, 37 months up and, or 36 months up and 47 months down. Five. You know, it's just how it's happened to have played out. So, I mean, looking at this, we're arguably in at the start of a new cycle already, based off of this oscillator. If we can close above the mega trend here this month and then push above it again next month, it's going to flip it green. And then I think it's, I think it's just kind of off to the races. So I, I don't think it's any, by any means, a sure bet that we get another drop between now and then.

• 16:00Speaker 01

  Yeah, I mean, it's possible, but I, I don't think it's, you know, likely, I should say.

• 16:07Speaker 00

  All right, thanks for the question, Loopy. Chris, let's head over to the ETH chart because Jamie, just the other day, it could have been yesterday even, I don't know, the days are, you know, piling together right now. But Jamie released a note saying that ETH has woken up. And he charted the ETH NDX and noted that that one is, you know, been dead since 2022. But that it just broke, it just broke the line, the trend. And that the last time it did so, ETH had its best run in its history against tech.

• 16:51Speaker 00

  So wanted to kind of see what you're seeing on the chart with, you know, some of your indicators as well. And seeing if ETH is finally time to buy.

• 17:01Speaker 01

  Yeah, let's look at ETH. ETH, ETH does look good, I agree. Here it is against the NDX. And it, yes, it has broken out of a longer term trend. I want to look at it just against USD pair also. And then I want to look at it against Bitcoin too. But, but yeah, I mean, it looks good. It's, I like the fact that last, or two weeks ago, so this big rally candle was the DMARC 8 on the weekly. And then the next one, obviously, DMARC 9, it, it, you know, cemented that. And really it's up since then. So it's kind of fading this DMARC 9, which is a really strong signal. The fact that it didn't really correct and roll over. And usually a DMARC on a weekly timeframe tends to be a pretty strong signal.

• 17:43Speaker 01

  It's not very often that you see things run up into the, the 13 category on the sequential and the combo. So the fact that it's kind of fading this 9, like it didn't happen, is really, is really strong to me. Excuse me. But let's look at it against Bitcoin. Because there's also something to talk about here. I, I've pointed this out a lot, this chart, you guys will have seen, where I, I argue that, you know, ETH was, ETH was winning against Bitcoin, basically right up until they switched to a proof of stake blockchain. And then literally on that same week, it's just been down only against Bitcoin. And then once they did this other upgrade that favored layer twos even more so in terms of fees, it, it dropped even more precipitously before finally kind of mean reverting

• 18:28Speaker 01

  and just catching back up to the larger downtrend. But if we look, if we kind of zoom in on what's going on right now, I got to give it credit where it's due. I mean, it's, it's technically breaking out of this trend on this weekly timeframe. It is, it's not huge yet. It's not going on and setting new higher highs. I mean, well, it did kind of eclipse this, this first high here. Like let's, let me highlight this. So it did eclipse this high. It flipped it to support, but it's got lots of, lots more to go. I mean, it's got to get, you know, this next, next one here. And then of course, this next one here. So it's got several layers of like higher highs that it needs to achieve against Bitcoin

• 19:09Speaker 01

  to really be like, okay, this, this whole, this whole structure here that I've got mapped out has, is, is no longer valid. I can, I can consider this done and ETH has moved on and broken out of this thing. But until we start closing above, say like this 035 level and then this 042 level, I'm going to say that Bitcoin is still the better bet. However, like I said, we're in the start of a breakout. Like we are in a reversal pattern, to be sure. This is completely valid. These are big signals on weekly timeframes and it has broken out. And it has broken the first level of horizontal resistance here. So, yeah, I mean, it's the start of something. It could be the start of something big and it's something to keep a close eye on.

• 19:51Speaker 01

  We want it, but it needs to, it needs to keep going to, to really know that it's not just kind of a,

• 19:59Speaker 01

  whatever, a temporary counter trend rally in a larger downtrend. It's still a little bit in that category. It's, like I said, it's broken through the first level, but it's got a little ways to go before I can, I can rule that, that scenario out.

• 20:17Speaker 00

  Sri wants you to take a look at Canton, Chris.

• 20:24Speaker 01

  Let's look at Canton.

• 20:29Speaker 01

  Yeah, I had, it's funny, I had high hopes for Canton here, like it was doing really well. I, I think that this was more the product of insider selling, or rather like validators selling to pay for operations and things like that. This wasn't so much like a sentiment breakdown. And it did bounce, you know, off of the big rally that we had a few weeks ago, but unfortunately, unlike everything else that bounced, it's given up most of that back. So, not, not a great look, honestly. And I don't like too that it kind of got rejected right at its, at its big 10-week moving average either. It didn't really reclaim any important levels off of that rally. Instead, it got rejected by them and has rolled back

• 21:13Speaker 01

  over. So, I don't know, it's tricky with Canton because it's such a, it's so kind of opaque and by design, but like it's hard to tell what's actually going on there, how much business is really happening, sort of who's doing what there, you know, like the people that are inside that ecosystem, they're benefiting from it tremendously, they're using it. But in terms of like, the Canton token itself being a good investment for outsiders, that, that has yet to be, you know, deemed the case, I guess you could say. So, we don't, we don't know on Canton, it's kind of a wait and see. It could just be one of those things where Canton is great if you're sort of in that, that ecosystem, but if you're just

• 21:57Speaker 01

  an outsider wanting to buy the token and hope that the value goes up because of whatever reason, I think we need to sit on that and wait and see what the market actually wants to do here. Because right now, the market's telling us that that's not the case. There's not really much of a bid coming from it. So, that's, that's, yeah, that's what I would do there.

• 22:18Speaker 00

  All right, let's switch gears to a very different coin. Aiden wants you to take a look at Pump.

• 22:24Speaker 01

  Yeah, Pump looks really good. I love, I love the fact that it's bouncing here. I mean, yeah, it, it bounced more than most. I remember calling this out, you know, last, on the last show we did, this went up 96% off of the back of that big candle. And so I was like, I'm not surprised that it's going to come back down a bit and correct a bit, which it did. But I like that it held steady. And this week, it's up 18%, when honestly, the rest of the crypto market isn't up 18% this week. Like, it's outpacing the market on the rebound. And it's up a lot this week. There's only a couple others that are having really strong like double-digit weeks so far. Everything else is just kind of consolidating and, and sort of rebounding, like, like I talked about with, you know, Ethereum and

• 23:05Speaker 01

  Solana and Bitcoin and stuff earlier. There's a couple that are ripping, and Pump is one of them. Near is one of them too, which we can get into in a second. But yeah, so I, I like what I'm seeing here. I've talked about them before, they're making money, they're, sometimes they're, they're neck and neck with Hyperliquid in terms of weekly revenue. So, they're, they're absolutely in the mix as, as something that, you know, I think warrants long-term hold consideration. They're, they're not just like a fad flash in the pan thing, especially with the, the meme coin space itself looking very excitable right now, you know. I think pump.fund is going to be right in front and center in, in all of that. And so, yeah, I, absolutely.

• 23:51Speaker 02

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• 24:08Speaker 00

  All right. Well, that was an exciting chart to, to talk about there. It had just a bunch of light bulbs going off in my head. Sonics, let's stick with the meme stuff. Sonics wants us to look at Pons, which is the meme coin of the hour these days. It is the hell of the ball.

• 24:28Speaker 01

  Hold on, I know I got a better, better chart here. Maybe...

• 24:43Speaker 01

  If I could type.

• 24:55Speaker 01

  I need to bookmark, I, I need to bookmark like a really solid chart for Pons because I can never find, um, does it run on a, hold on, does it run on a Dex?

• 25:14Speaker 00

  And Pons, for those watching, is, and correct me if I'm wrong, but it's the Robin Hood version of Pump.

• 25:25Speaker 01

  Yes, it is. I can't really, I'm trying to find a really good chart for it and struggling so far. All right, let me just go back to that first one I did, and we'll go with that.

• 25:37Speaker 01

  That was M E X C, I believe. Yeah, so, I mean, okay.

• 25:43Speaker 01

  Yeah, it's like Pump. I mean, like you said, clearly, clearly it's doing well. And we know Robin Hood has been kind of the, the place, the casino over the last two or three weeks where all the action is. I remember we looked at it kind of three weeks ago, we looked at a few Robin Hood coins and they weren't really doing much at the time, but they've kind of blown up since then. And then we had, there was that whole sort of phenomenon with the tokens being created and then the liquidity pools being created with tokenized, matching tokenized stocks to try and, you know, capture some of that. Yeah, I mean, Pons is benefiting from all of that too. So, obviously, this is something that's very speculative, very high risk. This is like, if you want to be, if you want

• 26:25Speaker 01

  to play in the DGEN space, Pons is the name of the game. I think, I think Pump is definitely a safer, less volatile play in that regard. But yeah, Pons probably is going to be one of those things that people who are lucky and or brave will potentially make quite a bit of money. But you could also lose quite a bit of money. So, yeah, like manage your risk accordingly if you want to play in the Pons slash Robin Hood meme coin space. That's kind of like lunch money only type, type situation there. But yeah, Pons looks great,

• 27:08Speaker 01

  obviously. I mean, it's, it's, it's ripping and probably will continue to. Oh yeah, Dex screener, good call, Meatbag. I should, I'll, I'll pull that up next time. I'll have that ready for next time.

• 27:21Speaker 00

  Meatbag. What a, what a name. All right, let's, uh, let's head on over to, I know everyone's going to ask, so let's check up on Sui.

• 27:36Speaker 01

  Yeah.

• 27:40Speaker 01

  Sui has respectably recovered a little bit, I would say. So, again, credit where it's due. Like, this was ugly initially, when it had the, it had the run-up and then immediately gave, you know, two-thirds of it back, or whatever. I was like, uh, cringe a little bit. But, uh, you know, nice recovery, back above the 10-week moving average. It's down a little bit on the week, but it's still only like, from the, from the close the other week, it's only down about 5% off of that. So, I'll take that. You know, that's, that's good enough for me. That's a good respectable rebound off of this initial sort of breakdown.

• 28:22Speaker 01

  I don't love the fact that the volume has kind of, I guess, you know, petered out a little bit, however you want to say it, since then. I'd like to see the volume coming, you know, remaining strong. Was it Pump? I've looked at one of these, or Hyperliquid or Near, one of these, one of these where the volume just continued to rip. Maybe it was Hyperliquid. No, well, whatever. Anyway, I digress. Yeah, so, Sui looks, looks better. Looks better than it could. I still would like to see it above the, the bull market support band here, which it's not. Like, most of the stuff that I'm like, yeah, this is solid, it's in an uptrend, this is a good buy, are, are above this bull market support band and have flipped it to the upside. And Sui hasn't quite gotten there yet. It's still

• 29:06Speaker 01

  below it and the band itself is still, it's really, it technically pointed to the downside. It hasn't even quite leveled off yet. So, ultimately, for me to be more bullish on Sui, I need to see it above this cloud here and the cloud itself reversing back to the upside. We need to see an uptrend. We're not in an uptrend yet. We're still just kind of fighting against the, the bottom of this downtrend. So, show me an uptrend and, you know, I'll be happy with that.

• 29:34Speaker 00

  You mentioned Near as well, so I think now it'd probably be

• 29:36Speaker 01

  Yeah, let's, yeah. Near is another one that's obviously doing well. Near is benefiting from Zcash, which I'll, I'll get to next because those two are, those two are kind of tied together in that Near is the only blockchain, I mean, outside of Zcash itself, I guess. Near is the only other blockchain where you can do native, protected, you know, encrypted Near transactions with the native token. And so, it's benefiting. People are trading Zcash on Near and the token price is going up. So, that's, I mean, that's kind of the bottom line. But that's great, I'll take it. I mean, we know Near is doing all kinds of other cool stuff with agentic traffic and, and, you know, and infrastructure and

• 30:18Speaker 01

  things like that. So, Near is going to benefit from the AI side of things, from the agentic AI side of things, which I love, which I talk about on the AI show all the time. So, Near is in that conversation, but Near is also in the Zcash conversation, which is cool because a lot of people don't necessarily want to buy Zcash, or maybe they can't buy Zcash depending on which jurisdiction they're in or which exchange they use, or, because Zcash sort of brings scrutiny to you. And so, you can get exposure to Zcash indirectly through Near. So, Near is a good play for that. And it's benefiting accordingly. I mean, this, this is a great chart, you know, obviously. It's way above where it closed off of that big rally, you know, two, three weeks ago. So, Near, Near is in the mix, for sure.

• 31:04Speaker 00

  That makes me, that makes Near so much more attractive too, after learning that info.

• 31:09Speaker 01

  Yeah, and then here's Zcash. I mean, Zcash, of course, is ripping to, Zcash is at, is at all-time highs because they have an ETF that launched and they're ripping to, Zcash, for what it's worth, has very good marketing and very good KOLs that like get people involved. And so, if, even if you just want to invest in it because of that, regardless of if you think it's good tech or you even want to use the tech, just know that they have a marketing machine and it is playing out in the token price. And so, if that's, you know, enough of a reason to invest in it in itself.

• 31:44Speaker 00

  Aiden wants to know, do you think Zcash could be the next Bitcoin?

• 31:49Speaker 01

  Um, no.

• 31:50Speaker 00

  Technically, the private, the more private version of Bitcoin?

• 31:54Speaker 01

  Yeah, I mean, I don't think it's going to take over Bitcoin because there's lots of entities that can't use it and can't transact with it for regulatory compliance reasons and things like that. And so for that reason, it'll never be as broad-based as Bitcoin is. But will it be the sort of de facto go-to privacy token ecosystem? Quite possibly, yeah. Though I wouldn't fade Monero either. I mean, Monero is, it's not, the price isn't as high, but Monero also has been ripping as of late. I mean, it's arguably in a better uptrend structurally than Zcash is. Now, it's not like at all-time highs, but over the long

• 32:34Speaker 01

  run, Monero has been a grinder too, and has done really well. And some even argue Monero is slightly better from the tech side, which is, I mean, that's a whole different conversation that I'm not going to get into. But like, Monero is a competitive, a legitimate competitor to Zcash and shouldn't be ignored, is all I'm saying.

• 32:57Speaker 00

  Oh, Valor doesn't want you to do it, but also wants you to do it. Can you check out?

• 33:05Speaker 01

  Um, if I'm, I saw Radium, actually. Yeah, Radium looked pretty good.

• 33:09Speaker 00

  It was Kita, but let's stick on Radium because that was a question as well.

• 33:13Speaker 01

  Oh, sorry, sorry. Okay, yeah, sorry. Well, yeah, we'll get to that next. But, um, I mean, yeah, shout out to Radium. I don't know what's going on there. But yes, I mean, huge rally two weeks ago, 66%. So we had a nice break. It basically traded sideways during the retraced week and then ripped another 66%, which is way better than even the 25% that it did in the initial breakout week. So, and then it's still up again this week. So like, I need to, I mean, I have some idea, just because I know Solana's doing well. We know meme coins in general are doing well. Some of the, you know, some of the Robin Hood stuff is leaking over into what's going on on Solana. So Solana's been a beneficiary.

• 33:58Speaker 01

  Solana's done well. Not surprised to see Radium do well. So, um, yes. Now, let's get back to.

• 34:06Speaker 01

  Was Kita? Was that it?

• 34:07Speaker 00

  Yeah, yeah, Kita.

• 34:09Speaker 01

  Uh, I'm pretty sure I actually removed Kita from my watch list recently because,

• 34:16Speaker 01

  um, let's see the.

• 34:22Speaker 00

  Oh, my God.

• 34:24Speaker 01

  Yeah, I know I've got, hold on. I know there's another chart that has more.

• 34:29Speaker 00

  I know why they didn't want you to look at it now.

• 34:32Speaker 01

  Is it Kraken, maybe? Well, all right, let's just do the crypto one. I won't have volume, but we can, we can see the full chart history. Sorry. Okay. Yeah, no. I mean, I don't know what happened with this project. It, it, it had promise, you know? This was like, it's, it's a speculative bounce based off of its promise, you know, when it initially launched out of the gate back in 2025. And then it never was able to kind of deliver on that promise yet. Um, I don't know. Definitely not something I'd be buying, though. I mean, it, it hasn't even proven that it can't break away from setting lower lows yet. So it continues to just set lower lows. So I wouldn't, I would, this would be like at the bottom of

• 35:17Speaker 01

  my list.

• 35:20Speaker 00

  Yeah, absolutely. Um, yeah, because even when the market, I can't see right too well on this chart, but even when the, the rest of the market was pumping, Kita didn't even, barely did anything, barely registered any.

• 35:36Speaker 01

  I'd rather be holding, you know, cough, cough, BSV than Kita right now. Bitcoin Satoshi's vision, you know?

• 35:49Speaker 01

  Um, anyway.

• 35:53Speaker 00

  Oh, Valor, I'm sorry. Yeah, it's just a hold in that one. Okay, um, where was that next question? Can we take a look at Robin Hood? Yes, yes, we can.

• 36:05Speaker 01

  We looked at Robin Hood last week. I know it was doing well. I haven't looked at it since then. Um, I mean, it looks like, you know, it looks like a crypto chart. So here was that run-up again two weeks ago, and it's way above it. So yeah, it's like, yes, it's down on the week right now. Um, for, what's it, what is it on the daily here? Let me just see. Let's kind of look at it on the day for a second.

• 36:29Speaker 01

  Um, a bit of a wobble the last couple of days, but yeah, I mean, it's, it's doing incredibly well based off of what's going on with all the on-chain stuff. It's benefiting clearly from that. So, uh, like if we look, I just, hold on, I just want to see what the, the gains were since the bottom of this rally here. Up to, yeah, I mean, it's up 22% basically. Um, since that big, you know, since Bessent came out on that day and did the announcement and crypto and everything rallied, it's up 22%. So it's, it's almost trading like a, well, like a crypto, you know? There's a lot of cryptos that are up around 22, 25% or more. Um, and Robin Hood is right there in that same mix. So, uh, yeah, this is, I

• 37:14Speaker 01

  think, a perfectly viable way to gain exposure to what's going on in crypto right now because Robin Hood is at the center of what's going on in crypto right now. And clearly their stock is benefiting from it. So if you've got a brokerage account sitting there, you know, and you don't want to move it over to crypto, um, you can get exposure to it that way if you want.

• 37:37Speaker 00

  Yeah. Uh, IJS Comm wants us to look at Say. That's a name I have not heard in months.

• 37:52Speaker 01

  Um, yeah, man, it looks like, it looks like Kita a lot, really, you know?

• 38:00Speaker 01

  No bueno.

• 38:02Speaker 01

  Um, I mean, well, here, let me, to be fair, to be fair, okay, here's what I see. It, it caught the bounce, which is good. It caught the bounce like everything else. Um, retraced is higher than the weekly close from the bounce. So that is a constructive setup. What I don't like about it, though, is if you look here, the ones that I think are really doing good are the ones that like, were already well into a bottoming pattern before this breakout. Like, let's just quickly compare it to Ethereum. Like Ethereum was already had bottomed, it was cruising along, it was, you know, making, making higher highs, and

• 38:43Speaker 01

  then it got the breakout and it really kind of cemented the reversal. Whereas we have other ones like XRP, for example, which is very similar to Say, where it was not really even close to bottoming. It was still setting lower lows, and then it got this big, big sort of rip and rally out of nowhere because of the, because of the outside factors. And so it's like, it's like, it's like saying, I wasn't really bottoming, I was still in a downtrend, but now I'm, now I'm kind of not, you know? And so like, that's what I, that's what I see with, with Say. I was still in a downtrend, um, and this didn't even bounce nearly as much as like XRP did. It just kind of caught the wave that everything else did. And it's holding it, and it's okay looking. But I would have liked to have seen

• 39:28Speaker 01

  more of a bottoming pattern already, like predating this, this bump here, uh, to know that the market was already kind of aware of Say, and we're already starting to look to, to bid it, you know? There was, it's like there was no bid prior to this rally that we had. And that's what concerns me more than anything.

• 39:50Speaker 00

  Well said, yeah. Um, all right, so let's take, feels like the, it feels like the good old days because we're just getting, uh, chart after chart after chart of requests. And last time we've got that many requests, Bitcoin was over 100,000. So it feels good. And Chris, while we're taking this walk down memory lane, why don't we take a look at Avalanche? Because that's one that I have literally no idea what's going on there. But it had its moment, um, a year or two ago where it was really, you know, all the talk.

• 40:28Speaker 01

  Oops.

• 40:30Speaker 01

  Hey, man. Um, yeah.

• 40:36Speaker 01

  I agree. AVAX was the play for a minute.

• 40:42Speaker 01

  And it's funny too, just looking back at this past four-year cycle. It did okay. It didn't go on and set a new all-time high like some stuff did. Certainly didn't go on and set an all-time high against Bitcoin. But it did okay, and it's really bled out since then.

• 41:02Speaker 01

  So here's what we're looking at. To be fair, it was starting to set a little bit more of a bottoming pattern. Unlike the SA chart we just looked at, it had leveled off. It caught a nice bid. It is above where it closed a few weeks ago. It is technically above this bull market support band. However, the band itself hasn't reversed yet back to the upside. So it doesn't quite have as much strength as some of the other stuff. But it's also tracking with the rest of the market. It was that much worse off to begin with. It needed to go a little bit further to cement the reversal. It hasn't quite got there yet. But it's looking okay. It's looking better than some.

• 41:46Speaker 01

  Not as bad as others, or not as good as others, but better than some.

• 41:53Speaker 01

  So yeah, I don't know that I would feel comfortable throwing money at it yet. Like, I mean, definitely, I could pick through 20. I mean, just go to that CoinMarketCap top 90-day, top 190-days list. And start picking from there. And I can assure you, AVAX isn't going to be on that list. I mean, that's where I'd at least start my research in terms of what's looking good right now. What are people paying attention to? You know, that's always the best place to start your research. And yeah, maybe one day AVAX will make it back onto that list. But it's not there yet. So yeah.

• 42:29Speaker 00

  Okay. Oh, Valor, this is a great question here. So not tokens-specific, but with bottoming signals happening on a lot of assets. What's your advice on those of us holding bags and things that are underperforming? Not financial advice, of course, but would you recommend swapping to things that have better signals? Or just keep with conviction in progress? Rotation seems like an impossible game.

• 42:56Speaker 01

  Yeah, I mean, that's always tricky. And there's no right answer for that, you know? Because basically, I could tell you, yeah, swap them. You know, swap them all day long, and then the next day, they go on some rip. And I look like an idiot. You know, or vice versa. And so, you know, there's a couple of different ways you can play it. You can start to rotate some out. You can do 50/50. That way, you're still in it. And you can take some of that money and put it into some of the other stuff that's doing well. That way, you're sort of hedged, I guess, or covered for either scenario. Is a way you can do that.

• 43:34Speaker 01

  But really, like, what the market is doing right now, I think, is a strong signal. It's not very common that something that has just been down, down, down only for like months and months, or even years, is suddenly out of nowhere just going to catch some magic bid and make up all that that it's lost. I mean, that doesn't happen very often, you know? And so, things generally go down for a reason. And unless some, you know, it's like winning the lottery for some catalyst to come back along and kind of reverse all of that. So it's generally, you know, I feel stronger in picking something that actually has the attention of the market.

• 44:19Speaker 01

  Because the market, price is king, you know? Price tells all. And if people are buying something, they're buying it for a reason. And that's, you know, probably why you should be buying it too, you know? And conversely, if they're not buying it, they're probably not buying it for a reason. And so, it's just, I don't know. That's kind of a long-winded answer to say, I can't tell you exactly what to do. But that, go with what the market is telling you. And if something is moving, it's probably moving because, you know, there's a reason for it.

• 44:53Speaker 00

  Yeah, like, also, like, you know, if I'm holding something that looks like the Kita chart, for example, I think that one's a lot easier to just cut and get out of. Because it's, again, it's really showing you nothing. And like Chris said, it's not going to catch a bid out of nowhere. And if it does, like, what the fuck, right? It's not like, it was just so, so random. But I think the market has also been giving us a very clear sign. And if we've been paying attention and reading the tea leaves, it's been telling us what's going to do well. And it's things that have those tokenomics that, you know, bring fees directly to the token as opposed to the treasury.

• 45:37Speaker 00

  It's protocols that are generating real revenue and not just generating revenue based off of speculative bids. Like, you know, look at Hype and Near and Pump. Fun. You know, tokens like that as well. And then I'll even go a step further too. Because Solana and Ethereum, and even Near, have also gotten the message. And they've, you know, they're putting in tighter policy on their tokenomics. And Near's and Ethereum's are already live. And Solana's has been approved and is going to go live soon too. So I think all of these things can give you a good idea of what you should cut and what you should actually be in going forward. So I hope that helps.

• 46:23Speaker 01

  Very well said. And another two that I think fit into that category in terms of companies that are revising their fee structures and their tokenomics are both Uniswap and Curved DAO. Uniswap is hugely benefiting from it. So Uniswap has a new kind of V4 version out that is also benefiting a lot from Robinhood. Because Robinhood is all trading on Uniswap V4, basically. But V4 basically allows liquidity providers to really programmatically fine-tune how they allocate liquidity, like, in a very automated, programmatic way. They can just set, like, they can write bots that like move little pockets of liquidity all over to capture maximum yield, basically, from their liquidity providing.

• 47:08Speaker 01

  And people are doing this. And so, Uniswap has really, I mean, it almost never left. But it's at the top of the heap, basically, in terms of DEXs. Like, yeah, Jupiter and Radium made a run for it. But like, Uniswap kind of is the king of DEXs. It's the OG. And they've continued to evolve and mature their product and refine it. And there's so much liquidity on there. And any EVM chain, basically, is accessing it. And it's doing very well. So, and it is accruing value back to the token holders, too. Keep that in mind. So you can see, Uniswap has done tremendously well. I mean, look, here was the big week back here. You know, this candle here, and it's just two more huge weeks in a row. Like, yeah, it caught a little bit of a rejection here.

• 47:53Speaker 01

  But massive, massive rally from Uniswap. It's done exceptionally well. And it's ground zero for everything that's going on with Robinhood right now. And then the other one is Curved DAO, which also, I've talked about Curved DAO on my crypto portfolio, model portfolio reports. Because I just added it to the model portfolio and have gone into great detail as to why it's doing well. And it too has revised a lot of their structure and has gained a lot, you know, has doubled sort of their usage in certain areas in recent weeks too. And it too is benefiting well from that. And we're seeing, you know, this is what I'm talking about. When I see the bull market support band needs to reverse back to the upside. And we need to see price continue to rip above it.

• 48:35Speaker 01

  This, this is textbook reversal that I'm looking for. That I think is, this is a good bet, you know? Whereas those ones where it's still underside this, or the band is still kind of flat. It's like, don't even, don't bother with that. There's 100 names out there where the chart looks like this. Don't mess around with the stuff that's just pointed straight down. Like, the, you know, the signs are there. So, so yeah.

• 49:04Speaker 01

  And a lot of it is DeFi. A lot of it is DeFi. Because it has that, it sort of very much lends itself to big product-market fit, big real-world use case, lots of fee generation. You know, all of the stuff that you just talked about, that we talk about every week. DeFi is very much kind of like the perfect sort of structure for that. And so, a lot of DeFi is going to be good investments.

• 49:30Speaker 00

  That's nice. Yeah, so just to tie in a bow on O Valor's question. Because as we were commenting, he said RIP Sui then. And like, listen, O Valor, you're not going to, you'll be hard pressed to find a bigger, or at one point, a bigger Sui bull than myself. But like, just looking at Near right now and knowing that Near is also, you know, built itself to capitalize on the agentic economy, just like Sui. But then you tie in the Zcash play, or Zcash, you know, tie-in that Near has, combined with their updated tokenomics and their burns.

• 50:13Speaker 00

  Like, how do I not even swap my Sui for that? Which is basically just a different expression of that same thesis that I have about the agentic economy. But also adds more to it that I just said about, that we just talked about with the tokenomics. So got some thinking to do, O Valor. So maybe you and I can discuss in the Discord a little bit later.

• 50:37Speaker 01

  I think with Sui...

• 50:38Speaker 00

  Sorry, go ahead.

• 50:40Speaker 01

  I think with Sui, because of their nature, because they're designed to be so cheap and their fees so low, it's never going to be like the same as Ethereum, for example. You're not going to sort of benefit as directly by holding the Ethereum token as you would the Sui token. I think where Sui is going to benefit, or where you're going to be able to leverage the most from that is some protocol that comes along that launches on Sui that sort of captures that agentic revenue, you know, and generates cash. It's going to be more of a protocol, like a software side, application layer side of things than the network token itself. So I think that's what I'm looking for with Sui is some new thing that launches on Sui

• 51:24Speaker 01

  that blows up from the agentic side, makes a ton of money. Something like a hyper liquid, for example, in terms of like, it's raking in cash, doing agentic whatever. And then people are like, oh, hey, that happens to be on Sui. Maybe that's where I want to go. And then developers are like, hey, I can do that too. And it starts the sort of flywheel effect, where more developers want to go build on Sui because that's where this action is happening now. So I think whatever rebound happens on Sui is going to come more from the application layer side of things than from the network itself, creating some framework, you know, for people to build on.

• 52:02Speaker 00

  Yeah.

• 52:05Speaker 00

  Uh, okay, let's take Fafrosh's question here. This will be the last one. Uh, syrup.

• 52:12Speaker 01

  Uh, yeah, syrup, I'm, I'm, let's see. Syrup looks good, too. I, I figured it would even before I pulled it up. I mean, syrup's right in there, too, in terms of a DeFi platform that's making money, that's, uh, you know, it's doing all the things that, that we talk about. And, and what do you know, it's up. So, um, yeah, I think, I think syrup is gonna do well. Um, Morpho, I think, is another one that's obviously doing very well. I've talked about Morpho in the past, and it, yes, it's down off the back of that big rally, but it's already been in a mega uptrend way, way back, starting at the beginning of the year. So Morpho is one, syrup is one, um, Aerodrome is gonna be one that's already kind of in an uptrend, too.

• 52:54Speaker 01

  So I would say, look at, if you're looking for places to put money, start by looking at the DeFi sector as a whole. I think that's gonna be one of the more promising sectors going forward. Now, not every one of them is gonna go to the moon necessarily, so you're still gonna have to do your own research, but I would say, if you started just by looking at DeFi and going from there, um, you'd probably do pretty well.

• 53:20Speaker 00

  Yeah, absolutely. All right, guys, that'll do it for this week's edition of Trading the Markets. We will, of course, be back next week. Uh, we're gonna be joined by Chamber of X, who is going to, uh, you know, come on, talk some trades with us, and, uh, talk some options and talk, uh, his ripple. So, uh, until then, guys, don't fuck this up. Uh, and let's continue the conversation in the Discord. Have a great week, everyone.

• 53:51Speaker 02

  You obviously enjoyed the episode because you're here with me at the end. But listen, don't forget to go to realvision.com/join and grab a free membership. It's an incredible community packed with alpha, great investment ideas, and the research that you need to help you unfuck your future. So get started now. Go to realvision.com/join.