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[Music]
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hey what's going on everybody this is
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the blockchain backer bringing you the
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latest cryptocurrency news and Analysis
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today we'll be talking about the xrp
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price chart along with the Bitcoin price
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chart is we're seeing a lot of
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volatility as we get ready to kick off a
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new week in today's video we'll be
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discussing the things that are
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triggering a lot of this volatility
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that's happening in the market as this
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is not isolated to crypto this is
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actually taking place over there in the
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US Stock Market as well as Nvidia is
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tanking in pre-market off the launch of
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deep seek which is like a competitor to
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open AI but it runs at only 4% of the
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operating cost of open AI so it's 96%
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cheaper has the market in a little bit
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of a frenzy as we get ready to kick off
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the week you've got the NASDAQ down over
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900 points before the market even opens
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you get the Dow down about 400 points
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and the S&P down about 150 so you're
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down a little bit over 4% over there on
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the NASDAQ bitcoin's down about 3.2% or
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$35,000 in xrp down about 7% back at
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about 279 right now so we'll talk about
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these levels that we've gotten back to
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over here on xrp I'm going to tie in the
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bigger picture of what I see going on
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over here with Bitcoin and reiterate
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these things that we've been talking
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about in in here for the safety trade
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dominance and how we're really kind of
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right on the cusp here as we get into
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February and of course we'll touch base
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here on the xrp price chart but I think
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the most important thing here is to try
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to paint a picture on bitcoin and the
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relationship for there to be some type
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of move like this come in the market
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here in the coming weeks I've
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characterized this range happening for
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Bitcoin is just an extremely complicated
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range I think that's kind of the term
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I've been using for I don't know 3 or 4
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weeks at this point but I see something
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interesting that has happened in here
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right now that does have Confluence to
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Looking For a Moment Like This to occur
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based on what we actually did end up
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seeing back there in 2021 with a range
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very similar like this to bitcoin right
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back over here so we'll tie in that
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picture of Bitcoin we'll tie in that
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picture of the safety trade dominance
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we'll tie in the picture of xrp and just
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kind of remembering that a lot of these
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things point to that you know the next
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maybe month or two could be pretty
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exciting but to not forget the bigger
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picture of what we're kind of looking at
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it through at least through the lens on
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this channel of this being a rotational
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top in the equity market and well dude
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we just see an event happen for Tech now
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it's not unusual that we're going to see
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some volatility on a week like this this
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is fed week this is where the FED is
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anticipated that it will be pausing its
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interest rate cutting cycle there's a
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97% probability that the FED is going to
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pause we tend to see volatility on weeks
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like this however this is kind of a
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little bit of a catalyst happening at
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the beginning of the week so I'm curious
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of how much actual volatility is going
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to be tied to the FED I tend to think
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markets kind of like Cal themselves down
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participants get themselves all
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positioned and prepared for the FED
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meeting but we're kind of starting it
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off with a lot of volatility so I'm not
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really sure how how much how impactful
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like the FED stuff is going to be this
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week but we will live stream it and that
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will be on Wednesday now as for the news
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of what's Happening Here as we start off
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the week There's deep seek that was
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launched you can go check your app store
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on your phone you will see that number
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one free app being downlo downloaded
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right now is deep seek which is like a
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competitor to open AI or chat GPT and
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the cost or operating cost is only 4%
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that of chat GPT or open Ai and produces
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high quality results so the Market's in
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friend is NVIDIA overvalued are we going
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to need all this stuff and that's kind
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of what we're seeing as we're getting
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ready to kick off the beginning of this
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week but what's going on over here on
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the Bitcoin price chart so I'm going to
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try to make the most sense out of this
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range that I can it least of where we're
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at right now like looking for something
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familiar you know the question has been
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whether or not this is distribution
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that's happening over here for Bitcoin
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you know this is what distribution
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looked like for Bitcoin back in 2021 so
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trying to see is there anything similar
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or familiar that's happening over here
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right now that mimics that of what was
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going on at that time we know that the
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measured move for Bitcoin would have
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gotten you to like 107 108,000 we've
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gotten there we're really struggling
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there at that level but if we just kind
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of look at what distributions can look
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like in here we see some things that are
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familiar where it's just trying to kind
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of work its way up and then pulls back
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right work its way up and pull back kind
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of sloppy sloppy stuff down in here and
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then pushes on to just kind of get a new
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high and then pulls back right we
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actually do get it's really hard to see
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on here but here I'll do this we do
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actually get a little new high right
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there for Bitcoin I'll take that stuff
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off over there we get a new high here
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for Bitcoin and then we start pulling
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back now what's interesting about right
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here is I'll put this on a smaller time
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frame to see it a little clearer is
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whether or not that's already kind of
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getting near the end of a completed ABC
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and that is what we actually ended up
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seeing up in here for the distribution
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phase of Bitcoin back in 2021 is that
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there was an ABC correction that came
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out of there now of course what this
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doesn't tell you is you know are you
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still just right here there's still some
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more slop and some more capitulating
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that's going to end up happening in here
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before something like that can happen
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maybe but if that's what this range is
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well there's a little bit of Confluence
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on something else that we've been
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talking about for it to be in that phase
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right now and that's what we've been
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talking about with the safety trade
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dominance if I come back over here and
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we'll take a look at that right if this
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is a distribution range if we're you
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know getting close to being halfway
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through this distribution for Bitcoin
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and if there's still more working out in
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here and then this and that and you know
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you know if we're just somewhere along
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there right well it would have
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Confluence to this which is the safety
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trade dominance it's breaking down in
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here from back in 2021 and this is where
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things got really crazy but like I can
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overlay that Bitcoin dominance right
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here on this chart to show where it was
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at in that phase if you were just right
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there at that completion right in here
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by overlaying Bitcoin dominance we got
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to put us on the daily on here but what
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you see in here is that this is that
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moment right this is actually where uh
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the breakdown happens from so we're over
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here talking about this and and looking
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at it through the lens of us being right
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in here in this market well in that
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distribution range for Bitcoin back in
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2021 that's where it was it does this
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ABC in here and then once that happens
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that's where the Bitcoin dominance
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tumbles on itself after the completion
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of that correction right in there right
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major participants probably realize hey
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we are in distribution this thing is not
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acting like a range here the market just
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kind of floods the cash throughout the
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rest of the market and we have crazy
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excitement until we get to a 7 to
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retracement over here and then that
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marks the end of the cycle right but
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this is definitely something we've been
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talking about in essentially every
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single video that we've done and that
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it's moved kind of right on time of
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where we are right now and that if
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things were going to get moving and if
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things were going to get exciting in
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this market uh that it would probably
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end up being probably sometime around
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this weekend or heading into next week
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as we get February kicked off well if
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you're going to you know draw that
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contrast to that and say okay well if
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we're using kind of a model from back in
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2021 well what was happening in the
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broader context of the market during
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that moment well this is what was
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happening right and this is where it
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ends up breaking down and this is where
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that dominance Falls and the altcoin
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market goes pretty crazy in here but we
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are in a distribution range right in
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what phase of the distribution range
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were we at or after we kind of completed
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this ABC correction that ends up
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happening in here so the question is is
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that also where we are right are we in a
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distribution range are we finishing off
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an ABC correction happening in here and
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then it starts off right the market
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actually looks like it should look or at
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least Bitcoin does look like it should
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look uh if we were going to be looking
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for that to happen and having Confluence
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to that moment because I think the
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arguments have all been there that we've
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been moving really on the trajectory of
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what you would think and that this
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Market is much further along in the
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cycle than people probably anticipate
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that it is you know fouryear Cycles
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we've got until November October or
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December or whatever uh but that were
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really kind of pointing towards Maybe
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not maybe like the end of February or
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you know middle part of March and it's
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one thing to just kind of look at this
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and say hey that's how our timing is
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looking at but if you're looking for a
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contextual comparison to say well what
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was happening in the market right here
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for that event to end up happening it's
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that Bitcoin was in distribution and
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that when this phase ends up happening
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in here that's where Bitcoin is it
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pushes for a new high ABC corrects then
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as Bitcoin goes for its final push up in
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here we are in the breakdown of the
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dominance we're in quote alt season as
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the distribution finishes off in here so
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for those whove been following and
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watching this thing for years what would
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you be looking for right here well you
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would be looking for that and the
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question is are we getting it and as of
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right now it appears so it appears we're
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getting exactly what you would be
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looking for for that moment to occur
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right when you're supposed to which
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would again give Confluence to that
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argument of rotational top over there in
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the equity Market there probably not as
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much time as people think probably until
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somewhere around March and you can view
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that from hey look like the next several
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weeks look like they have the setup to
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be pretty exciting or you know the end
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is near whatever you want right but I
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think the point of what I'm trying to
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show is that you know as we kick off the
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new week and there's a lot of volatility
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there in the stock market people be like
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oh no the end is here but technically
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speaking for all the things that we've
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been looking at you actually would be
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expecting this price action to be
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happening for Bitcoin if it was in a
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distribution top and this is exactly
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what you would look for right before the
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dominance would break itself down it's
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exactly what happened in 2021 and where
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we're at right now is right on Q it's
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right on par so it's like if we were to
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sit here and say it's going to do this
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just because of the sake that it's going
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to do this well it's like well what was
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the context of what was happening when
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this occurred well Bitcoin was in
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distribution and it was at a specific
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phase which was right here and then that
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actually happened so you say okay well
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are we in that right now it's like oh
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wow it actually kind of looks pretty
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similar like we actually are there right
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now so again not saying we won't see
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something like this come throughout the
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week but I think by the time we get to
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the end of the week and we head into the
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weekend to try to see it shoot its way
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back up again it's fed week There's
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volatility it's crazy there's all kinds
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of stuff that happens in here with the
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market readjusting itself during fed
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week and especially since we're finally
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pausing The Cutting cycle but you know
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kind of like today is something like
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that right in there and there's still a
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little bit more and then it works its
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way up so hopefully that put this into
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context a little bit of what was going
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on in the Market at the time when all of
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this occurred Bitcoin was in
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distribution and it was at a very
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specific phase in its distribution when
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this breakdown happened and sure enough
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that move that just happened right in
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there if that's an ABC happening in
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there that's exactly what was occurring
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so all right moving on over to things
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like xrp we got several lines drawn here
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on the screen of course we've compared
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this to double tap bull flags that are
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happening in here still this could just
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be a bull flag that's merging in here
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current levels that it's currently
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holding right now this is the highest
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daily candle close from 200 18 so as you
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can see this is what we broke out of
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here recently which is marked by this
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level right here this level is the
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highest price that we saw over here in
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December of 2024 and this is the
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previous all-time high so you could see
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struggling here at the all-time high
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still holding above the highest daily
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close in history right now even if we
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close ourselves right in here we're
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still above the highest close ever from
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2018 and from here in December of 2024
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so nothing and crazy has been happening
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in here just yet we've shown what the
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parabolic Rises of xrp can look like as
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they go towards their end I doubt it
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that we're in this just yet that we've
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having the crazy whipsaw happen back yet
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but nothing happening in here that you
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just wouldn't see in a parabolic rise
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and still major Milestone levels are
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still continuing to hold at least as we
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kick off Monday I do understand it's
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pretty far away but really the only time
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where things become super concerning is
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just if you take out the low that
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happens back down in here at a $1.90
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otherwise if events like this happening
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in here are all normal and really it
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still just seems like we're working on
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that second Bull flag one of the things
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I've always said about xrp is it does
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not move independently it moves with the
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rest of the market so when I look at
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things like this I have to say to myself
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okay we just hit the all-time high are
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we in a position where need to be pretty
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worried about that since we've hit the
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all-time high and can it reject off of
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there and that's the end of the cycle
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right I think it's a reasonable question
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everybody should ask themselves and I
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have to say well it's only really going
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to move up if we actually have those
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conditions set up there for the rest of
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the market to be able to do something
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like that and that is why we talk about
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these types of things that is why we
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look at Bitcoin that is why we look at
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the phases of when things can happen
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because if this dominance is falling
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right in here these are the times where
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xrp can perform well so it's one thing
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for us to just look at the chart and say
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oh the chart does the structure that
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looks familiar and similar it's got to
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be is the broader context there for it
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at the same time it's why we look at
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these it's why we look at this all of
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those context still seem just fine right
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in there so for continued growth price
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looks absolutely normal we still have
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fine closes happening in here we'll see
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how this closes throughout the rest of
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the day but you could totally see this
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is the highest close in history leading
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up till 2025 we're still sitting right
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on top of it here as we're kicking off
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the new week and the best thing I can
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tell anybody is to sit there and not get
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sucked into the narratives get sucked
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into the hype but say to yourself is
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there something in the market that looks
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like there could be a bro based rally
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happening throughout here and that's
00:14:01
what we have and those are the
00:14:03
conditions that xrp needs there's no
00:14:05
flip of the switch there's no nothing
00:14:07
right I mean maybe the case gets dropped
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and we get like a nice a nice rally um
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especially since you know if we're
00:14:13
moving into this type of thing of course
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people will credit that but we we are
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appearing to be moving into the market
00:14:19
dynamics of euphoria right and so those
00:14:22
events and those news narratives could
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likely come out during the period of
00:14:26
euphoria and you know that's what we
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always kind of anticipate what happen
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like like I always said it like when
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we're at like 40 and 50 cents of being
00:14:32
like what would you do if we get up near
00:14:34
you know price levels and extensions and
00:14:37
then that's when the Everything Changes
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right we we came up with some silly
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stuff like what if Trump says he loves
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xrp right I mean like that's like re
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it's like possible right I don't know
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but like you know then the appeal
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getting dropped or stuff like that and
00:14:51
every gosh and then if it does become
00:14:53
something like where it gets added to a
00:14:55
reserve or something like that you have
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every reason in your mind to believe not
00:14:59
to do anything about it but you know
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we're reaching the market conditions of
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euphoria where it's perfect for those
00:15:05
news narratives to come out in here and
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for people to think this time is
00:15:08
different right but you know when I look
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at these things of course I have to draw
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in the broader picture of it I can't
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just structurally look at these things
00:15:15
and say the structure is there I have to
00:15:17
look at the bigger picture context and
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that is why I show that to you if this
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context wasn't here it we could sit here
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and be pretty worried about xrp hitting
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that alltime high but the fact that we
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have this Market I and this Market
00:15:29
Dynamic showing up here throughout the
00:15:31
market I don't see any reason not to be
00:15:33
excited so I think we're totally fine
00:15:35
right now if things change we talk about
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that but that's why we talk about this
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stuff so as we get closer to Market
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opening xrps back to
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$2.88 bitcoin's back above
00:15:46
$100,000 as of right now of trying to
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make sense of the range that we're
00:15:50
seeing over here on bitcoin this is the
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most sense I can make out of the range
00:15:54
currently right now and it has
00:15:56
Confluence to other elements that we've
00:15:58
been talking about a lot lately last
00:16:00
week when we were talking about this it
00:16:01
was saying I don't know if we'll see
00:16:02
anything next week which would be this
00:16:04
week but on seeing something happen once
00:16:06
February starts to kick off well that's
00:16:09
exactly the dynamic that we'd be looking
00:16:10
for here so if we get a strong reaction
00:16:12
at of Bitcoin then kind of watching to
00:16:14
see you know do we end up getting that
00:16:16
big breakdown in the dominance to happen
00:16:18
as distribution still continues for
00:16:20
Bitcoin over here so there you go make a
00:16:22
little bit of sense out of the range
00:16:23
there for Bitcoin it happens to have
00:16:25
exact Confluence with the things that
00:16:26
we've been talking about over here and
00:16:28
that influence matches up for what
00:16:30
you've been looking for for xrp and
00:16:32
really the rest of the altcoin market so
00:16:34
we'll get through fed week we'll get to
00:16:36
see how the stock market reacts and
00:16:37
digests the information that it's got
00:16:39
this morning in regards to Big Tech is
00:16:41
Big Tech overpriced is it threatened my
00:16:44
thoughts have always been it's going to
00:16:45
be a rotational top out of tech and if
00:16:47
so that would buy us a month or two or a
00:16:51
month and a half still left in this
00:16:52
market right now so we'll let the market
00:16:55
kind of digest all of this happening
00:16:56
here this morning seems right on page
00:16:59
for the things that we've been talking
00:17:00
about over here for the phase you would
00:17:02
think you would be at over here with
00:17:03
bitcoin's distribution we'll see how
00:17:05
things progress throughout the week and
00:17:06
of course I'll be here with you
00:17:07
throughout all of it and then Wednesday
00:17:09
we'll have markets in the morning and
00:17:10
we'll live stream the FED meeting stocks
00:17:12
are slightly improved as we get closer
00:17:13
to opening still openings about an hour
00:17:15
and a half from right now I'm up very
00:17:17
early in the morning I know that I will
00:17:19
get the you're always sick comments that
00:17:23
last week I was mentioning man I was
00:17:24
feeling something coming on and and sure
00:17:26
enough last night it was nothing but the
00:17:28
fever sweat 102 fever and woke up and it
00:17:31
felt like I kind of broke it this
00:17:32
morning I was back down to 99 but my
00:17:34
clothes were soaked so hopefully we've
00:17:36
bypass the worst of it all um but I'll
00:17:39
be here all throughout the week of
00:17:41
course you guys can check out blockchain
00:17:43
back. substack do.com over here this is
00:17:45
my newsletter it includes a 35 minute
00:17:48
audio voiceover recording that I record
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myself talking all about these market
00:17:52
dynamics for 20125 key developer and
00:17:54
user activity levels coins that have
00:17:56
been leaders laggers and mid pack and
00:17:58
then talking about the AI agent
00:18:00
phenomenon if you sign up for the
00:18:01
newsletter of course you get access to
00:18:02
all the past ones and of course all of
00:18:04
them come with audio recordings that I
00:18:05
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00:18:10
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00:18:11
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00:18:13
View and coin Trader Pro there's links
00:18:15
in the descriptions of all of my videos
00:18:17
to BCB backer.com and the newsletter at
00:18:19
blockchain back. substack docomo wayse
00:18:22
have a wonderful day what a start to the
00:18:24
week I think we're going to have crazy
00:18:26
all week long but we'll be here for all
00:18:28
of it so all right that's it thank you
00:18:30
so much for watching if you could please
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Subscribe and hit the notification Bell
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00:18:43
this is not investment advice and I am
00:18:45
not a financial adviser but if you ever
00:18:47
need to pick me up or a little bit of
00:18:49
reassurance just remember that the
00:18:51
blockchain backers got your
00:18:56
back have a good one
00:19:03
[Music]
