Bitcoin Reaches $48,000🔥$50K NEXT?

Bitcoin price is up 6.28% over the last 24 hours and hit an intra-day high at $48,200 on Feb. 9. Given this performance, technical indicators, rallying spot Bitcoin ETF shares and on-chain data show that Bitcoin has the strength to revisit the post-Bitcoin ETF approval high above $49,000.

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00:00 Intro
00:21 Sponsor: iTrust Capital
00:46 S&P 500 Milestone
01:53 BTC Short squeeze incoming
03:34 ETFs = 15% of BTC spot trading
05:40 ETFs make history
07:36 DeFi vs Hedge funds
08:55 Franklin Templeton ditches laser eyes
10:12 Bitcoin Sentiment
10:57 Outro

#Crypto #Ethereum #Bitcoin
~Bitcoin Reaches $48,000🔥$50K NEXT?~
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Bitcoin is moving into a new Zone today We'll be breaking down why and where is It going to stop or are we on QE for Maybe an all-time high we'll take all Look at all that good stuff today my Name is Paul bar welcome back in the Tech path before we get started thank Our sponsor and that is it trust Capital Getting into an IRA for crypto this is One of the ways you can do it all you Have to do is visit itrust capital.com Make sure and use our link because we uh Have a $100 funding reward if you decide To go this direction you can trade Bitcoin eth precious metals and a lot of Altcoins over there all within your Itust account so just check it out see What you guys think and uh let us know Let's get into a couple of points here I Want to start off with the S&P 500 5,000 Very close to a milestone and this of Course has started to spark a little bit Of a surge in crypto assets some of the Things to kind of note here surge in Bitcoin's price now over 4 6 actually Hit 47 this morning S&P reached an Unprecedented 5,000 points this is a Psychological Milestone I would agree But there's just been so many earnings Positives that have come in here this Week roblock meta Etc really performing Well and I think Tech continues to be One of the the key drivers here analyst Point to indicators such as inflows nine

Consecutive days also on Lower outflows From grayscale that's a big factor Supporting factors for the positive Momentum meaning people are saying okay These guys are are continuing to see uh The amount of growth that we kind of Thought was coming for uh traditional Finance but I think even traditional Finance might be a little bit surprised At this this translates to a staggering Additional nearly 8.5 trillion in market Cap within just the first three months This is a big news I think going forward For sure other things that I want to hit On today and we'll be getting into is a Little bit here on where the chart might Go because some people are eyeing that 50k Mark as being a very critical point Of where Bitcoin could be so shorts need To kind of get ready for this according To this analyst there's a couple of Points to kind of look at right here let Me zoom in on that at the time of Writing 474 formed a focus uh as Volatility remained with Bitcoin still Sizing up its highest level since late 2021 it's a big deal that we've seen This kind of movement and I'll show you Some things on the chart here in a Second that will give you kind of an Alliance or an alignment of where maybe This starts to move strong bounds from Mid-range attacking 48 8,000 and of Course the last hurdle for Bitcoin to

Overcome not much standing in its way if It does clear uh around 50k so a couple Of points will show on a chart here in a Minute but you can kind of see some of The the scenarios that are playing out Here now order blocks are and have been Kind of that layer of resistance that We've watched and if you jump over to The Bitcoin chart right here we're using Lux alos their price action a little bit Here on their indic and you can kind of See where and what we're into right here Which is one 1 2 3 4 days on this daily Close with Bitcoin continuing to hold at Around 48,000 which has been in and out Uh today and of course remember this is The local high and definitely moving Into a Zone we are in that zone right Now of potential some issues around uh Shorts being at risk so you got to be Careful if this does break this will be The key in Bitcoin going to the next Level which means what's going to stand In its new Breaking its last all-time High as 69k so uh this could be a very Interesting uh week coming up and Remember there's a lot of points behind All of this so most of it has been with The ETFs and here's what I mean by that Because there's some things also that You know when we look at the sentiment Data that has been brewing over this Last week and I think there has been a Little bit of complacency once the

Bitcoin ETF started versus to where we Are now and what I mean by that is People thought well yeah the Bitcoin you Know it's kind of a sell the news thing And then they realized what was Happening and to give an example 15% of Bitcoin spot trading right now are ETFs This is huge us spot Bitcoin ETFs now Account for 10 to 15% of the total Bitcoin spot trading volume across Centralized exchanges globally spot ETFs Also hold around 650,000 Bitcoin or 3% Of Bitcoin Supply this is something we Talked about earlier in the week other Things coinbase analysts say there have Been more important crypto themes Merging have not and when you look at The inclusion of a rising defi activity Which I think is the the bigger Factor Here this could mean a lot of value Coming in uh for ethereum along with Many other assets remember an ethereum ETF definitely on the wings I think we Do see this coming in May 58% of total Defi value remains locked in ethereum And uh they of course in this article we Think Bitcoin having in April May Negatively affect the economics around Mining potentially increasing the sale Pressure on miners that would be the Only problem but is there a shift for That of course we all have heard the Hut 8 news that's a factor I think that Plays into this but mining Bitcoin is

Going to become very very difficult uh So it'll be interesting to see how this Plays but all at that same time we've Seen you know marathon and Riot start to Really redouble down on investment uh in Mining further into this right here Black Rock Fidelity now hold 150,000 Almost 152 2,000 Bitcoin worth over 7.1 Billion for spot Bitcoin ETFs that's Crazy th those numbers are just crazy And then if you look at the history of ETFs in you know overall Black Rock and Fidelity launched have become pretty Much the Talk of the Town I think this Is the thing that everybody's paying Attention to in Wall Street is they're Watching the amount of gains that are Happening in a market that has really Been pent up by demand from mainstream Remember the next real move for all of Digital assets is going to come from Mainstream adoption couple of points They hit on right here Black Rock and Fidel's ETFs took first and second place Respectively attracting attracting six Billion in funds since their launch and If you look at the listing here I mean These are astronomical numbers and I Think we are just seeing the beginning Of uh the locomotive uh coming in all Right so further in this article uh Means two uh of these have comfortably Flipped all POS all opposition from more Stalworth ETFs like invesco's QQQ or

Triple Q which holds shares in the top Nine public Financial uh traded Companies and then the NASDAQ 100 also Which lists uh include like apple Google Microsoft Tesla Etc so you can tell the Performance is there meaning Main Street And a lot of financial advisers are now Starting to see the pressure of what Real exposure to bitcoin is so imagine What they're thinking they're thinking What is next what is the next Opportunity here well you know it's Going to be ethereum you know Everybody's been looking at this I talk To a lot of people who have not invested In any kind of digital asset ever but Now they're talking about it just Because of what's happening with the ETF It's hitting the news but more Importantly it's hitting all these Financial managers these Financial Managers really for the first time are Talking about this and they're already Starting to say you know this is just The beginning guys we have other Products that are coming that will start To make their way in that could be even Better and if you look at that right now Only four of the US hedge funds have Beat defi in terms of assets under Management so you know Wall Street is Watching this like like an eagle in Terms of where that liquidity may come From further in the article here it is

Right here the total value locked in all Defi protocols reached a multi-year 65 Billion notably this time decentralized Saw number numbers in tvl was just last Of June further in this tvl accounts for 48% of stable coins market cap 136 Billion at the time Pub and then the Total value lock measures of non-liquid Uh invested defi uh versus in Traditional Finance this would be Equivalent to the assets under Management kind of the same thing that Black rock and others are kind of faced With simply put defi is where it's at Right now Wall Street understands that This is a big opportunity they see it Coming down the PIP and I think some of The ones that really see it are ones Like Franklin Templeton I'll talk to you About that in a minute and why they are Looking ahead and kind of down the line For additional digital assets Black Rock Says Bitcoin creates Global Internet Value allows assets to move lowcost near Realtime cross borders they get it I Think everyone in Wall Street these are Old you know kind of old talking points But the point is is that they're Redelivering on it now what's Interesting here is that Franklin Templeton drop their laser Eyes Bitcoin approval happens it's a Month old laser eyes gone what are they Doing they're looking into other things

So uh picture replaced with an abstract Re yellow red green pattern hello Progress which was used in a previous uh Marketing campaign you kind of see it Right there and uh pretty interesting The change doesn't mean the company Isn't still bullish on bitcoin but I Think what they're doing is they're Prepping for opportunities in ethereum And on other digital assets that are Coming to Wall Street here was another Tweet by Franklin templin We believe It's blockchain's improving fees fees Key word here fees that's ethereum and Performance the potential use cases that Are unlock row exponentially improving Economies and experience in user cannot Be overstated so man they're all in this Is it and whether you're looking at Things like salana or Avalanche which I Think is probably going to be the play More uh importantly with Wall Street Especially around world world assets Going forward last week right here other L1s outside of of Bitcoin e Soul have Massive potentials and are continuing to Gain support So Monitor and develop These networks as they grow and mature Avalanche along with there's a handful Of other l1s that are coming fast so all Of which are are really showing uh the Trend if you look at our own sentiment Data really trending all the way back Here into the 25th of January which was

Around 5693 and it has been slowly Moving up the chart here so Bitcoin has Been holding on this uptrend really Since back here in January so a good Solid number here in terms of uh Sentiment going forward so if it Continues to spread out on this I'm Looking for a little bit of a pivot here On amplification but this also tells me That we may be looking for a retracement Off this 50k so that's what I'm watching Right now is this little departure right Here very overheated sentiment on the Upside so keep an eye on that be careful As you guys are trading out there so if You're not part of the diamond circle Make sure and jump in it's one of the Easiest places to get additional content And also more research we drop research Over there that we don't do here on the Show and all you have to do is click the Link down there catch me on X Paul Baron Catch you next time right here on Tech Paath