 Welcome to the Jalassette News. Take a top stories in crypto and bring it on to bite-sized pieces. Today, just as the thumbnail suggests, Ethereum whales are doing this. And Newsflash, they are accumulating at a massive rate. And it's so big, it's actually even shocking to me. So we'll take a look at the story behind the story. Let's take a look at J.P. Morgan, what they think about this Bitcoin ETF and what is going on as far as the price appreciation. I think they're a little bit off here. Also, we'll take a look at Gensler's rationale as to why he approved it. And then we're going to take a look at a nice little story where Michael Burry is talking about how he is not shorting cryptocurrency and he's actually invested into it. So we'll take a look at those four stories, but first take a look at what's going on into the market. So today, it is Thursday. It's a beautiful day. And we've got some pretty good, nice, decent appreciation or price appreciation going on. So market caps are on 2.6 somewhere around there, trillion, 2.64, depending on where you look at. And Bitcoin's down just a little bit, about 4% in 24 hours. But look, we had a massive run. So I'll take it. But the daily sentiment is still good, 68 out of 100. Daily sentiment for just the market in general is about 45. And actually, the reason I think why the Bitcoin is actually going down is because it's flowed into a couple of big players as far as altcoins. So Ethereum's 4100, Binance coin is still down a little bit, but still a little bit there. Cardano, not too much. Solon is the big winner, 12%. Look at that price, almost at 183. I had a price prediction of $200 and it's already blown through that before. So it'll hit that and go up even farther. Polkadot, Terra, 3% for Avalanche, Chainlink and down the line. So a little bit of money is going into the alt, which makes a lot of sense. And also, let's take a look at the projected range for, if you're a big investor, we're using trade the chain for sentiment analysis. So take a look at these tokens, because these might blow up in the next hour or so. FTX, ZeroX, Unibright, Near Protocol and Orchid, also the sandbox and Chainlink. So yeah, looks like their price prediction grew up pretty fast. On top of that, I'd also like to make mention of what's been going on with the market as far as price. And it makes a lot of sense. I mean, look at what we have here. I mean, we're on the four hour candles and this is on 20th October at 12. We went from, like I said, 63.6 all the way to 67.3. That's an amazing four hour run. And then, of course, from there, we take a look at the RSI a little overbought, and then the volume is looking pretty good as far as like MACD and what's going on. But then it turns from this red, which could go either way, honestly, then a little bit downward. And then we see that volume is going down, MACD is decreasing a little bit. And then we can confirm it here. And then boom, it takes off right here. So as we're going through over this way, we can see that 62, 63 or something like that. If you would have caught it here, you could have sold off right as it goes from dark green to light green, sold it off at around 65, bought back in around 63. And then you can plan around pretty well. So that's for all your traders out there. I'm not a big trader. I'm just a holder. But that's what the traders tell me. And then also, if we take a look at real quick about the shorts and longs, I'm always interested to see what the thought process is with everybody in the market. This is BYBT.com, takes a look at all the longs and the shorts. And we can see right here in the last 12 hours, we're actually gaining on people actually starting to short a little bit, especially on Bitfinex, 59%. But it all depends on the timeframe. Look at, let's go to 12, 24 hours, see where we're at. Yeah, same thing. And I mean, if we go into the danger territory, this is not going to look good. 30 minutes, yeah, it's going to be a ton of shorts. So just expect volatility, surprise, and crypto, that is what it is. But that's what's going on in the market. Let me just think about a common section, but I mean, not surprising. Pullbacks are healthy. We've had a massive run. Let's see how we do. And yeah, let's get into this ETH Wales game. And this was a good one from you today. And it really just takes the data from sentiment analysis. And it talks about this. Let me blow this up. Top Ethereum, well, it's been adding Ethereum steadily since August and keep doing so, even as the price is approaching the all-time high in May. I found this fascinating because when whales get in, usually they are usually, not all the time, there's some dumb whales out there, let's just be honest, but usually you'll have whales and they'll accumulate when nobody's doing it. And that's the hard work, what I talked about yesterday. The hard work's not now. The hard work is done four or five years ago or actually around September when nobody wants to buy. There's a huge dip and people don't do that. You do that. I do that. But a lot of people don't. And these whales are accumulating back then, but they're still accumulating right now. And that's what's interesting. And this was the data brought most from sentiment on chain analysis. I'm going to blow this up. Let me put this up a little bit higher so you can see it. We can see that, and this is just Ethereum donors' addresses are the big ETH players, we'll say. And 2.5% of ETH supply in the last 10 weeks, and they're just accumulating and accumulating and accumulating. I think to myself, well, are these exchange wallets? Are these exchanges or these legit just whales? But we can see it on chain. It shows us exactly what we're talking about here. They're just accumulating and accumulating. So the question is then if we're at 42, 4100, somewhere all-time highs for as far as Ethereum, and they're still accumulating, what do they know that we don't know? That's the big question. And it's something to think about for you to, of course, do your own research and see if Ethereum might be something you want to add. And then here's the answer to my question. Non-exchange ETH whales hold 5x more ETH than whales on exchanges. The ETH holdings of the former, which is non-exchange whales, are actually people who don't have wallets on exchanges. Now, total 22.9 million Ethereum, that's a lot of Ethereum, compared to only 4.6 million ETH stored in addresses based on crypto exchanges or inside crypto exchanges. So if we take a look at what's going on, I mean, these whales, again, are accumulating like crazy. And the question is then why they're doing it, and should we be accumulating more? It's up to you. So let me know what you think about that in the comments section. Now you know exactly what they're doing. Now let's move on. So we got that. And then on top of this, I found this story interesting because everybody's got their opinion, I've got my own opinion, about why price appreciation is going through. And I think it's a number of factors. Well, here's what JP Morgan thinks as far as like this huge price appreciation. Take this with a grain of salt, we'll just say that. So JP Morgan names the trigger for this new all-time high. And this is what they say. I found this kind of funny. Strategists of JP Morgan say that the most likely reason for the Bitcoin all-time high has been inflation or people that are worried about inflation. When I first read that, I'm like, that's not the reason. But then I sat back, I go, that's actually a pretty good reason. And they'll get that in a second. But I think there's a combination of many factors, right? We have an ETF that took off. I was a little bit worried about what it could do because of the last CBOE futures contract. I know it wasn't an ETF. I understand that, but I was just a little concerned. So I kind of stepped back, but it was a massive success so far. And so you take what's going on there. You take the economy and the hedge as far as like inflation and the markets themselves. And of course, inflation, I think you combine all those things. And then people talk about it like crazy. I think here we are. So to finish this up, this means Bitcoin is rising due to monetary access. Comments chief economist, Tresus Daniel Ocallier. I think I nailed that. Oh, and I'm going to try this guy's name, Nicolaos something. And the banks of the strategist wrote that an ETF launch was unlikely to attract a lot of new capital into the leading digital asset. They have been watching cash moving out of gold ETFs and into Bitcoin since the start of September. And then the rest they just kind of, it gets boring after that. But that is true. I've been hearing the same thing as far as like gold ETFs and people moving out of gold and into Bitcoin because it's essentially gold 2.0. Now, I don't understand what the big deal is with the gold bugs, but I own gold, I own silver and I own Bitcoin. Why don't you just own all of them and just head your bet? I think that we can all agree on that. At least some of us can. Some gold bugs just will not give me that. And then I was thinking about, I'm like, well, you know, if we're taking a look at how much is actually taking out of gold, remember, gold has around, it says 10.9 trillion. This is from last year. But every one of these little squares is about, I think 100 billion. And gold's got about 12 trillion dollars. So everything that's being taken out of gold and into Bitcoin, what do you think would happen when half of the gold, people that are in gold, go into cryptocurrencies, digital assets such as Bitcoin and everything else and Ethereum and blah, blah, blah. Well, now you got, well, let's say you got 6 trillion in gold still, but you got 6 more trillion into the crypto assets. And then look at this. Here's the stock market. That's about 90 trillion. Now it's about 100. Here's the money supply, global debts. And remember, each one of these squares is 100 billion. Here's real estate. Just imagine when we tokenized that global wealth and then derivatives. It's just laughable about how early we are and how big we can actually be. So that's what's going on with that one. And let me think about that in the comment section. When I see, every time I see that this diagram, I always get this chart, I always get excited because I'm like, there's so much money to be had. And there's so many people that can get into this, they just don't know it yet. And yeah, let's move on to our next piece, Gensler. Gary Gensler from the SEC, head of the SEC and his rationale as to why he approved this ETF. Because again, I didn't think it was going to happen, but here we are. I talked about why that whole thing was, but this was just a quick snippet of why Gensler said this. And I want to open a discussion about this because to me, it doesn't make any sense. So Chairman Gary Gensler, the man that we all love to hate in crypto, I don't hate him. He's just doing his job. And it's debatable about his motives. I don't want to get into that because I don't want to get sued. He states, what do you have here as a product that's been overseen for four years, talking about crypto digital assets, Bitcoin, by the US Federal Regulator CFTC, and that's being wrapped inside of something with our jurisdiction called the Investment Company Act of 1940. So we have some ability to bring him inside of investors protection. It's still a highly speculative asset class and listeners should understand that underneath this, it still has that same aspect of volatility and speculation. So here's my question to you watching this video. The whole point of the SEC is for consumer protection. What are they doing with this ETF to protect the consumer? They're just approving it, right? Is there, because I mean, a big thing about this is like, well, we don't want manipulation. Is there no manipulation going on in these markets in gold and metals and everything else? Is there no manipulation going on the stock market? How are they protecting us per se in this little arena as compared to the different exchanges that are out there right now, like a Coinbase, like a Voyager, like a Gemini, everything else? Like, what are they specifically doing besides getting a paycheck? I just don't, I don't understand it. And I'm just not that smart. So I'm I'm leaning right on you guys to gals to help me exactly with that. But on top of that, there was also this little quote. This is from some Anthony Bertolino VP of growth that I trust. I trust that square that you've always seen the upper left hand corner, tax fee crypto IRA. And he says this, this was a quote from CNBC or on CNBC says the launch of the first Bitcoin ETF in the US will bolster the broader crypto market and help an entirely new investor class experience the benefits of Bitcoin as legitimate asset. I don't know exactly what he's talking about here because I got to, I'll ask him. However, a derivative is based Bitcoin ETF is not where we want to be long term. I agree. I think the futures is just a stepping stone until we get spot. One of the most attractive aspects of Bitcoin is that it's a bearer asset, high liquidity 24 seven, a physically backed, backed Bitcoin ETF will be 10 years from now. So what I want to do is I want to bring Anthony in here to explain exactly what he's talking about in the first part. And if you really believe that it's going to be 10 years. And then the big question I have is if people, if there's investors out there and they're like, well, I don't really get this and, you know, I don't want to custody it because I got a lot of money and I want to have a lot of risk. Why wouldn't they just put into like a crypto IRA like with itra? So we're going to talk to Anthony real quick. And then we'll get to the story about Michael Burry and him not shorting and picking up crypto. So let's jump right in with Anthony. So anyhow, as promised, let's we got Anthony Bertolino in here. He's the VP of growth at I trust capital. Anthony, thanks for coming on. We appreciate it. Thank you so much, Rob. Excited to see you. Yes, been a time, been some time. So here I had two questions for you. The first thing as we get into it was you were talking about, you know, people getting into this ETF, but to me, the same people are getting into the ETF. The big thing is they don't want to custody it. They're used to a certain type of structure. So why couldn't they just go into like an I trust? Have you guys custody it? It's a Roth IRA or a SEP or a traditional, whatever else. So why can't they just do that as opposed to this futures ETF? Yeah, so many, many people who are buying this futures based ETF probably should be using I trust capital and certainly could be for those who are doing it within their retirement accounts. And right now, I think it's really just a learning gap. They're maybe not aware of I trust capital or they feel more comfortable with Goldman Sachs charging them high fees. And so I think over time, they'll discover our product and they'll see that it's more superior. Perfect. Okay. So people just don't know about it yet. That's kind of like my job to get them to understand it. Okay. And then the next one, the second one was, you said that there's going to be a physically backed ETF in like a decade or so. Do you think it's going to take that long or do you think it's going to be shorter and just talk to us real quick about that? Yeah. So I think a physical, a real Bitcoin based ETF will people certainly be much tuner. My comment was more along the lines of like over the long term, people are not going to be happy to have a futures based ETF. And no matter how quickly the spot based comms will see, but ultimately the best thing to do is to have true physical ownership of Bitcoin, which is what we prioritize, no derivative, no notes. And the reason why is you're going to be able to take that Bitcoin and use it in things like DeFi, right? Where you can deposit it into an open source DeFi protocol, earn yield, maybe borrow from it. And that will never happen with a Bitcoin ETF. Yeah. And then lastly, yeah, I mean, nobody, it would be nice to get an ETF or like a real spot ETF that is actually physically backed, but here we are. And then the last thing, before we came on, you told me something that I was like, there's no way that that's real on the I trust and the future of I trust potentially going into like what you can do with like Bitcoin and the crypto that you actually hold. Yeah. So our vision or my vision at least certainly is within the product offering for you to be able to have an earned section. And within that earned section, you should be able to choose how you want to use your assets. So the future is not to just have your assets stored in cold storage, but you to have the option of using that to maybe do staking, to maybe do lending, to maybe use DeFi. And what's so crazy is that all of this will be happening within your tax sheltered account. So the interest you're earning will likely be still be tax deferred or tax free depending on the shelter, the staking yield, et cetera. Now we're looking at this very intently on the product technology side, which is basically ready to go. In the other side, the reason why it's taking so long is sort of regulatory landscape. And we're going to release more content on this in the future. But you've seen the SEC, talking to BlockFi, talking to Celsius, talking to Nexo, a lot of these things happening in New York AG and all these regulatory agencies. So we're having our legal team look at this and we're trying to roll this out as soon as possible. And I think it's very exciting what's going to be happening to real crypto holders over the next five to 10 years when they have places to use it. That's crazy. All right. So just so you know, there's a link in the description for iTrustCapital to get a first 30 days free. I did a video about 20 minutes or so, which explains the difference between the SEP, the traditional and the Roth. Remember, if you go into the Roth IRA, it is tax exempt, essentially, whatever you put in. Of course, you get tax, but after that, whatever it grows to, you can do the whole Peter Thiel Roth IRA route and get out some fantastic gains. And on top of that, just remember that they got a ton of different crypto that you can purchase over there or actually get into Bitcoin, Ethereum, Chainlink, Polkadot, Cardano, Bitcoin Cash, Stellar, EOS, Ave, Solana, Curvedow, Maker, Tezos, Engine, Basic Attention, Sushi, and a bunch of other stuff. So check out that link in the description below. And that is it. Anthony, thanks for coming on, man. We appreciate it. Thank you, Rob. Good talking to you, my man. Great. So I hope that helps. And Anthony, thanks for coming by. Let's get into our last story, which is Michael Burry. And I saw this yesterday and I tweeted out and I just said, man, everybody's a fan, aren't they? Everybody's a fan of everything's going up. But this is the big short famous gentleman, Michael Burry, where he says he's not... Let me see if I can get this in here. He's not... He's not betting against crypto and it was about a couple of coins. So this is from Yahoo Finance. Take it with a grain of salt. He states this, I've not been shorting crypto at all. I have not been involved in them, except for a dabble, actually on the long side in a couple that I see as better cryptocurrencies. And I have looked everywhere for exactly what he's talking about here, but it's not in this article. It's not in CNBC. So I'm curious to see what he invested into. I reach out to some friends and they said that he has invested into Ethereum and that's all I can get. But I know he says a couple of currencies, crypto currencies. So if you find it out, let me know. But what's interesting to me is that he had deleted some tweets where he had talked about how he was asking, like, how do you short crypto? What do you do it? Where can I do this? What's going on? And actually talked about this a couple of weeks ago and then all of a sudden he just deletes it. And that's where the whole story came from. But he came on record to say, I'm not shorting them. I think that some cryptos are pretty well. He still thinks things are a bubble, but it's not like he's like, this is the worst of all time. And I'm going to short the living tar out of it. That's not what he's saying. Now he's saying, hey, looking pretty good. Now I'm going to get on this bandwagon. So again, as things go up, everybody seems to be a big fan. And that's pretty much how it goes. So look, that is it for today. And that's all we have. It's a lot of information. But that ETH whale story, it makes me think that really I should be maybe dollar cross averaging more into Ethereum, not investment advice, just investment opinion of what I should do. And that's it. So if you made it all the way to the end, thanks so much. I appreciate it. If you like today's video, give it a thumbs up. Consider subscribing. Everything we talk about is time sensitive. And right now, things are going, they're going to accelerate at a rapid pace. So get as much information as you can from as many trustworthy sources as you possibly can. And hopefully that's me or one of them. So thanks so much. I appreciate it. I'll see you on the next one.