There's a Coordinated Attack on Self Custody

Now, there seems to be a coordinated attack against self-custody. I'm going to cover that. Here we go. First, Bitcoin Fear & Greed Index is at 37. So, this is a fantastic time to dollar cost average, in my opinion, especially the Satoshi indicator is screaming dollar cost average. Uh check that out at learningcrypto.com. Now, here's something interesting, okay? Now, Binance is processing about $3.64 billion in net outflows since resuming withdrawals. Now, Binance says withdrawal volume have declined and are stabilizing as expected, while deposit volumes remain substantial. Now, here's the thing, like the people that lost their money with Ledger, they're not going to get their money back, okay? So, this seems to be encouraging people, "Hey, look, these guys lost $6.3 billion, and you know, they get all their money back. So, I'm just going to keep my coins on exchanges." Or, they're just buying ETFs. And a lot of OGs in the space have decided to do screw that. They're not even owning Bitcoin anymore and just owning the ETFs. Very interesting. I wouldn't fall in that camp, okay? And now, here I'm going to talk more about this, okay? So, US Secret Service says it is continuing to investigate $6.3 billion Binance crypto hack. Okay, so the same people that, you know, are covering up people from the Epstein files are now, you know, saying that they're continuing to investigate, okay? These are the same people that are run by the military-industrial complex. I think many of you already know that. So, of course, they're going to want people to not own, not be self-sovereign, and not own own their own Bitcoin, and they're going to want to place their funds on BlackRock's, you know, ETF, whatever. So, it's a game. You just got to ignore these people, okay? Now, BTC Pay server hot wallets got drained, and attackers across multiple instances Users told to shut down servers. Yeah, so there's hacks happening everywhere right now. Fascinating that it's all happening in such a short amount of time. I don't think that's a coincidence, okay? And here's something really interesting that caught my eye here. I'm going to talk about why. Okay, so Nasdaq listed NexTech Technology Holdings says its board has green-lit selling or pledging all 5,833 Bitcoin it holds, citing the Binance hack and quantum computing risk. Okay, so what's going to happen? They're probably just going to buy the ETFs. I expect more and more people to go ahead and do this, especially more companies as well. So, fascinating how they're kind of diverting people to something that has an unlimited supply, which would be an ETF. Don't say it has 21 million. There ain't no There's no 21 million cap supply there, okay? It's unlimited pretty much. They can do whatever they want. They fully control it, okay? Now, this is why I am very skeptical on what is happening. And you know, you hear about things like the the hacker was a North Korean. I'm like, well, what a scapegoat. What a scapegoat. I just throw out North Korea did that. Okay, whatever. I'm not buying that. Are you buying that? I would I would love to hear your comments down below, but I'm seeing way more rabbit hole stuff than what's what meets the eye here, okay? So, now we also have liquidations in October. Check this out. This is crazy. We had 9.2 billion dollars in liquidations in October. Shorts, we had 3.29 billion dollars and total 12.5 billion dollars in liquidations. I mean, the the crazy October hack of last last year of October 10th was like 19.5 billion dollars. That's pretty close to that and you don't hear much of that. So it shows that leverage positions are growing in number, okay? And yeah, I'd expect this to keep continue to and continue, okay? So people aren't going to learn learn a lesson, but if you are a subscriber, you know that we dollar cost average and we hold and we do not get into leverage because there's no point, guys. You saw what happened October 10th, just don't do it. Okay, so bullish news here which hasn't really affected the market so far, but Coinbase premium hit a four-year low. The last time it was this low was in November 2022 right after the FTX collapse when Bitcoin bottomed, okay? Market sentiment is bearish enough to be bullish in my opinion, okay? So yeah, I I agree. I think that this is a very very bullish time and the fact that Bitcoin isn't dropping off like a rock like just at 60,000, 50,000 dollars after everything that is happening. I mean, if you guys remember like back in when FTX collapsed, like prices were getting obliterated. But they didn't drop as much as when the lending platforms went down. So yeah, a lot of people losing a lot of money, but it's still not as bad as, you know, it's it's it's hardly moving the price of Bitcoin. So that is in my opinion very bullish news. Let me know what you think and please like and subscribe. I'd really appreciate it. And do me a favor, check out Heidi's video that she did on Sunday. That will dive a little bit deeper on into what we think happened during the Binance hack. Um yeah. Talk to you soon.