NEW DETAILS: “A Powerful Crypto Bull Run is About to Occur…” After Debt Ceiling Vote

President Biden and house Speaker Kevin McCarthy are in lobbying mode today as The debt limit deal looks set to be Voted upon tomorrow if it can make it Past the rules committee in the house Today the final vote for the debt Ceiling potential deal is upon us it Appears that both the house Speaker McCarthy and U.S President Biden have Reached an agreement the only question Is can they get the votes from Congress If you hold Bitcoin if you hold ethereum If you hold altcoins this affects you And while I shared with you the broad Strokes a few days ago the 2023 debt Ceiling crisis altcoin daily video Linked down below let's go to Bloomberg For a 90-second update and then we'll Talk about what this means for crypto Anne-Marie we know a deal was just step One now it's step two to get to the Finish Line walk us through what we Should expect today and in the days that Follow well today Kaylee you have house Lawmakers coming back to Washington Remember they're supposed to be in their Districts this week a lot of them were Home for Memorial Day Um parades and other other events and Now they're all coming back because they Have to vote on this bill so but you say Correctly the start of it the first test Is going to be this rules committee There are three Ultra conservatives in

There do they vote to even allow this Bill to hit the floor that's going to be One of the first steps for speaker McCarthy as he tries to navigate his Members they're also going to be having He will be meeting in person with his Conference this evening potentially a Place for many of them to air some of Their grievances with the bill and Others to show their support for him and Then if it gets through the house with The vote set up potentially for tomorrow Then what we would have it work through The Senate and in the Senate while yes The president has spoken about the fact That he's spoken to Mitch McConnell and He does think that you know there is a Path forward to this before June 5th Where the treasury secretary says that Is the hard-line deadline for the debt Ceiling there's going to be a number of Senators who may want to make this a Much more difficult long run out process You have the Senator Mike Lee who wants Deep spending cuts to raise the debt Ceiling you have Lindsey Graham over the Weekend speaking to Shannon bream on Fox News Sunday talk about the fact that he Does not think it does enough for Defense spending when you look at a Three percent raise when you factor in Inflation so any one of these Senators Could make this process much more Cumbersome so yes there is a path but it

Is not exactly going to be the easiest And that is why you see Biden and McCarthy really trying to work their Phones and coalesce the centrists in Their party so just understand that While McCarthy and Biden have said yes To this deal it's a big if if Congress Will accept the deal as is or choose to Negotiate the finer points if the house Votes at their own Wednesday then we go To the Senate and then if we get to June 5th and no conclusion is made that's When around this time is when the USA Defaults like I said this is just a game Of chicken both parties want a Resolution yet the strength of all Markets hangs in the balance in these Negotiations something very bullish that Happened for Bitcoin the proposed 30 Crypto mining tax has been dropped in The U.S debt ceiling deal the mainstream Media has been silent on this I will Cover it I will keep you informed Because remember in early May the White House suggested attacks on electricity Used by cryptocurrency miners called the Digital assets mining energy Dame excise Act the proposal aims to impose a 10 tax On miners electricity usage from 2024 in The U.S gradually escalating to 30 Percent by 2026. this would obviously Kill crypto mining Innovation push it Offshores for the US they cite a Negative impact on the environment an

Old talking point on why they were Choosing to focus on on miners but they Also estimated that the Dame act would Bring over 3.5 billion dollars in Revenue over the next 10 years as they Punish Bitcoin mining well Happy Days This has been taken out of the latest Deal as reported by representative Davidson he says yes one of the Victories is blocking the proposed taxes Specifically the Dame tax proposal and That's not to say that we won't see Pullbacks we won't see Sharp 30 dips on Any given day in crypto always very Possible but looking at this update of The realized total waves chart the trend Change is very clear the Bitcoin Realized total waves show beautifully Just how early we are in the cycle the Curve is starting to shift right like Right here the curve is starting to Shift as we leave the cycle bottom in The past and bring on newer hodlers a Powerful Bull Run lies ahead if you can Wait for it bearish Sen sentiment cannot Survive and just to give you an analysis On what this chart means the colors run From short-term hodlers meaning 24 hours One week one month Etc shorter term Hodlers to longer term these darker Greens blues over five over seven years And by the way these do not count Satoshi's coins at least they put very Very weight into those coins here is a

Great 90-second explanation from glass Node on how this works so here we are in Glass node Studio we're looking at the Realized cat puddle waves now let's just Start by understanding how this Particular metric differs to the Standard holloways which you may have Seen so in the left hand axis which is What's mapping onto the color bands you Can see that we're going from zero to One hundred percent now on the standard Hollow waves that's as a proportion of The BTC Supply so as you can imagine Satoshi's coins which is around a Million BTC in terms of that relative to The 18.9 that have been mined it's a Fairly substantial chunk now the Challenge is that satoshi's coins have No price when they were mined there was No value for Bitcoin so therefore how Much economic weight do they really Carry and the answer is actually not a Great deal now if they were spent and Revalued at today's prices of course They would come back to life and they Would have a great economic value but They would no longer be 10 year old plus Coins which we have in the purple band Here they would become these 24-hour Coins which is the dark red so what You'll see is that the whole wave bands Go from red all the way up to these dark Greens and purples which are the older Coins whereas the warmer colors are

Younger So on that same case study of Satoshi You can see that 10 year old coins which There are many of them there's lots of Lost unspent minor coins there's Satoshi's coins there's millions of Coins that are over 10 years old that Simply haven't moved and yet they don't Carry much economic weight So in the standard Holloway of bands you Will see a large purple blocks at the Top here which is showing in terms of BTC Supply that satoshi's coins are Quite significant however in terms of The amount of value that they stored in Terms of the price when they were mined Or the price when a coin was last spent On chain that's what the realized cap Holder wave is doing it's capturing the USD denominated wealth that is stored in Those particular coins Support this content like these charts And what we are seeing the beginning of A new cycle curve at the bottom of these Curves as we make the turn that's when Long-term hodlers more of the greens the Blues Etc that's when long-term hodlers Dominate at cycle lows telling us Showing us there is a price point there Is a certain amount of hodlers long term That simply believe in Bitcoin too much And they will not sell and that's not to Say maybe we couldn't have another scare Maybe we dip back down again but again

This is a signal to me that we're a lot Closer to the bottom for Bitcoin than a Top by the way major announcement my Brother and I are speaking at the Lockdown Portugal a crypto conference You can see our pictures directly on the Website Us and other awesome speakers And grab your tickets link down below And use code altcoin daily 50 for 50 off Your ticket just for the altcoin daily Audience link down below see them Tomorrow