Bitcoin Smashes Through $70k

The Breakdown

Nathaniel Whittemore

Investing, Business

4.8 • 786 Ratings

🗓️ 30 October 2024

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Are we about to see a very-end-of-Uptober rally? At current pace, this October will be the fifth worse on record (although still up double digit percentages. Unlocking Bitcoin DeFi with ExSat The exSat Network aims to unlock and scale the Bitcoin ecosystem without compromising Bitcoins Ideology. The network has partnered with the largest mining pools in the world, major custodians and exchanges, BitTrade, Cubolt, Matrixport, Everstake, OKX and aims to have over $200M TVL at mainnet launch on the 23rd of October. Follow exSat’s Twitter to stay up to date @exsatnetwork or visit the testnet exsat.network Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:18.4	What's going on, guys? It is Tuesday, October 29th, and you better believe we are talking about
0:23.7	Bitcoin reclaiming 70,000, and frankly, continuing to go up. Before we get into that,
0:30.3	however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it a review,
0:34.1	or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link of the show notes or go to bit.L.L.Y slash breakdown pod.
0:42.0	All right, friends, well, you know this is where we had to start after five long months of
0:47.0	downwards chop. Bitcoin is back at 70K. Bitcoin rose above the $70,000 mark on Monday evening
0:53.2	for the first time since June,
0:55.5	and the market has only seen a daily close above this level on 12 occasions, meaning that many
1:00.2	are expecting resistance to be extremely strong. Still, this is the best chance for a blue sky
1:04.8	breakout we've seen since before the summer and traders are absolutely chomping at the bit.
1:09.5	Bob Lucas wrote, it's like you can feel the pressure rising rapidly. Jake Gujastic tweeted,
1:14.5	Bitcoin give us the God candle. Others are taking a different strategy, more like crossing
1:19.2	their fingers and shutting their mouths. Haley Lenin of Brown Rutnik tweeted,
1:22.7	no one tweet about the Bitcoin price. Just don't do it. And Raul Paul is waiting for more
1:26.3	confirmation before declaring that we're in the banana zone tweeting, shh, don't scare it. And Raul Paul is waiting for more confirmation before declaring
1:27.5	that we're in the banana zone tweeting, sh, don't scare our little yellow friend until Solana breaks
1:31.7	185 with Bitcoin over 70K. Then it's Fruit City. This breakout does seem to have a bit of momentum
1:37.7	behind it, reminiscent of the strong rallies in 2020. A trader called Bingler noted,
1:42.7	Bitcoin just ate through a 700 BTC limit sell order on
1:45.7	Binance. Time for the Bulls to take control if this holds up here. Checking in on the price
	...

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