Bitcoin and Commodities Outlook (with David)

Asks Mike McGlone about the factors behind the Bitcoin selloff and its role as a leading indicator for risk assets.

David

Mike McGlone

Bitcoin has unlimited supply; Michael Saylor selling signals a purge. Bitcoin is a leading indicator for risk assets, and the stock market is starting to follow.

There's a game on all the time in cryptos. Tether is on track to potentially flip Ethereum as the number two cryptocurrency, indicating a trend of tokenization.

Asks about the impact of upcoming IPOs (SpaceX, OpenAI, Anthropic) on cryptocurrency outflows.

David

Mike McGlone

Cryptocurrencies and precious metals have no earnings; stocks are the only game in town. Expect continued selling of Bitcoin as speculation is purged.

Sell the duds (cryptos) and buy the studs (stock market). The stock market has off-the-charts earnings.

Asks if Mike McGlone still stands by his call for Bitcoin to drop below 50,000 and about his 'pump and dump contagions' thesis for 2026.

David

Mike McGlone

Bitcoin pumped with ETF approval and Trump, now it's dumping. Natural gas, corn, and silver also pumped and dumped. Crude oil will follow natural gas down, and the stock market may follow Bitcoin.

We have never seen surging volatility in gold and crude oil without it trickling up to the stock market. Bitcoins are collapsing.

Asks how worried the average investor should be about an AI bubble and exposure to risk assets.

David

Mike McGlone

Retirees are overexposed to risk assets. US Treasury long bond at 5% is too attractive. Investors should adjust and not be overweight the most expensive risk assets.

Cryptocurrencies declining and gold's big rally last year were warnings. We have more wealth exposure to the stock market than any time in history.

SignalTube