New Bitcoin ATH Following Trump Victory
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Welcome back to the breakdown with me and L W. It's a daily podcast on micro bitcoin and the big picture, powerless PS remaking our world. What's going on, guys, IT is wednesday, november six than today.

We are talking about trump win and what that means for bitch coin and crypto before we get into that. However, if you are enjoying the breakdown, please go subtribe to IT. Give IT a rating, give IT a view, or if you want to dive deeper into the conversation, come join us on the brokers discord.

You can follow the link and the shows. They are going a bit that I slash breakdown pod, well, friends, we made IT. The election is over more definitively, I think that many people would have thought. And of course, the breakdown is not getting into the politics or what that means for america.

We are strictly focused on economic issues and more specifically, crypto, to issues which have, of course, become front and center during the election when IT comes to the specific donal trump declared Victory early this morning and aside from the Normal political platte des that were in the Victory speech, helping the country hill, turning the country around, regaining control of the country, all that sort of stuff for the bitcoin community, who, of course, through their weight, heavily behind the campaign, he said in that speech, quote, I will govern by a simple model. Promises bade, promises kept. All in all, election day was relatively smooth and quiet compared to the fear that some people had on the gypt outside the lead up to the election was tense because in etf, traders wanted no part of the toosday of volatility, pulling their cash on mass.

On monday, net etf outflows hit five hundred and forty one million, which was the second largest outflows since the products were launched. The only other day in the five hundred million dollar range was at the start of may when bitcoin hit a local bottom. Outflows were spread across all products, setting a new record for arc, bit wise and gray skills, new or mini trust.

Black rock was the only product to post minor inflows coming in at less than one tenth of th Epace o f t he p ast t wo w eeks. Tuesday wasn't quite as bad, with one hundred and sixteen million in net outflows, highlighted by a record outflow for black rock to a certain extent that could have represented called feet profit taking coming into election day. The past two weeks have been among the strongest on record, with the gig dic two point two billion added last week despite inflow slowing on thursday and reversing the minor outflows s on friday, particularly in the traffic world, bitcoin was identified as the highest conviction.

Trump trade and outlaws seemed to follow the last minute polls, which showed Harris was Better position than many believed. Flow tracker will panda commented, everyone dubbing their E T, S before the election tonight. If trump wins, I expect some foam o tomorrow.

Now with the benefit of hindsight, penguin curator tweed, funny that we had some record tf outflows yesterday right before this. Crypto traders, on the other hand, seem locked in for election day trading. Crypto quant t reported that bitcoin in inflows to centralize exchanges on tuesday were much lower than previous election days.

To be fair, this is, of course, the first election day with big coin anywhere close to all time highs. And active markets had a research, julio merino said there seems to be less selling pressure for bitcoin from traders and investors moving funds into exchanges that there was during the last election in the start of twenty four. Now when I was said and done anticipated voluntier ity certainly played out last night, but bitcoin was voluted to the upside at around seven P.

M. When the ap reported an early lead for trump. Bitcoin took off IT put in multiple god candles rising by eight point three percent over the next four hours. Bitcoin topped out at seventy five thousand, a brand new wall time high at the time of recording early in the afternoon wednesday. Bitcoin remains above seventy five thousand at this stage is a little too obvious to point out that begins Price was closely linked to trust election odds, but this move was a clear demonstration.

Marti bench of ten thirty one ventures witted bitcoin is the best prediction market, some at the point that there are still very few newcomer's to bitcoin between the completely flat chart of google search results and commented bitcoin all time high and no one knows yet that will change the Victory lap. Scott started early in the evening, is the coin sword job, net unchained, capital witted? The polls were wrong.

The experts were wrong. The P. D, economists were wrong, the establishment was wrong, and the mainstream media was wrong.

You are right. Seventy five thousand dollar big coin knew all time high. I, we strobel out just checking in on the antiquated army.

Hunter horsey, the C. E. O, A bit wise, said the feeling when you own a lot of bitcoin but feel like you should own more bitcoin.

And speaking of who was right and who was wrong about this election, one of the clear winners on election day was prediction markets. On tuesday morning, koshi was ranked number one in its category in the apple apple store, while Polly market was number four. Trading volumes for the day were almost four billion dollars across both platforms, coming close to coin a spot volumes.

This was a record day for prediction markets as a category, and it's not particularly close to some. The question is what the future for prediction markets look like now that the election is over. Political bedding has always been the major draw card for prediction markets, and the presidential election is the premier event.

If the election is the peek of casual, interesting prediction markets, theyll have to find something new to get people to come bat on the site. Polly market was clearly a break out success this year, so it's possible they could keep users on the platform with a new offering. Then again, some are worried that prediction markets get thrown on the giant scrap once hot gypt ideas alongside nf and algorithm mix stable coins.

Still, I think the broadly speaking, there is a sense that prediction markets are here to stay. The Carter tweed redis fake mainstream media is fake, ponders or fake only. Polly market, twitter are real.

Polly market, C E, O, shame coplin tweed just got word that the trump campaign age q literally found out they were winning from Polly market. History was made today. Joe is and tall, who is a little bit more removed from the bullishness, said.

It's been a phenomenal cycle for prediction markets. They're firmly part of the news environment. Now a person watching Polly market in the last month would have been more confident in a tram Victory than a poll or model watcher, yet still some big messes on things like the popular vote.

Now one thing that's worth noting, as we think about crypto implications of the election, IT was not just the trump Victory that's likely to change the crypto environment in america. Brian armstrong waited an image of the ohio senate race and wrote, being anti crypt to is simply bad politics. What he was specifically referring to was the fact that senate banking committee chairman shade Brown has unseated in ohio by burning marino Brown has been viewed as a major blocker.

Cypher al legislation within democratic leadership, all bills needed to go through his committee, and Browns complete and action made IT impossible to pascrell t the legislation during this congress. Brown might not have been quite as vocally outspoken against crypto as lib born, but he was certainly an ally of the anti cypher army staying in downtown let results ted crews held onto his seat and texas, where he's been a proud advocate for the local big coin mining industry. And a special mentioned has to go to john deton, a cyp ta lawyer who contested the senate and massacres against a little warn.

Well, ultimately, he secured less than forty percent of the vote. He still had a fantastic showing as a first time outside of candidate stand with crypto called the next congress the most pro cyp to ever. And I tweeted the end of the night they pointed to their live election results tracker, which had fourteen procyta candidates elected in the senate versus just nine anti crypt u candidates elected and in the house of representatives, two hundred nineteen pro cyp tu candidates, as opposed to one hundred and six anti crypto to candidates, republicans look to clam majority control of the senate.

And given that the senate is responsible for approving agency appoints, republicans can insist on their own choices for important posts like treasury secretary, feed chair and S C. C. Chair without needing to compromise. The senate committee also played outside role in setting the legislation of agenda.

Banking committee republican ranking member tim Scott seems to be first in line to take over as chairman of that committee and recently had floated the idea of creating a digital asset sub committee to ensure the swift passage of legislation. One interesting lingering question is what democrats will do with the information that crypto policy might have helped cost on the election. Finance lawyers god Johnson waited.

You're not going to believe the speed of the pivot dems take towards script in twenty twenty six. It's going to make your head spin. Tim gail, back of the center systems, commented.

It's one of the only core issues they can pick on without alienating a large part of the base. You just alienates some fin twit guys who are a resented that they are carefully constructed portfolios lose to the coins and that's not a big audience. And the ne sa muti, who served in the first trump White house for a few days, warned that might not be that simple commenting.

You've got ta be very careful of the democrats of procyon to there could be lots of democrats against that just because trump is for IT. So I would like to see this calm down. I think we have to depoliticize our regulatory decisions and make them more about right or wrong is supposed to left right now in terms of what comes next.

Once trump is sworn into office, the bitcoin community will be laser focused on whether he follows on campaign promises. Some require a lot of network and legislative changes, such as establishing a strategic bitcoin reserve. Others don't seem legally possible on their face, such as firing gary gansler, although the memes are coming harder, fast on that front.

But one promise truth can easily keep with the stroke of a pen is freeing ross. All break on day one. All brick was, of course, the founder of the silk grow, who sentenced to two consecutive life sentences in 10。 We won't relegate the case here, but advises to say that many bit winners feel as punishment was exceedingly harsh, given IT was for fundamentally nonviolent offences.

Rosa served more than a decade in prison at this point, and he's clearly not the same person he was when convicted at twenty nine years of age. Last night, in fact, bitcoin twitter was filled with a single rally and cry free ross V. J.

By a party route vote like ross o brick's life depends on IT because IT does american hoder rote can't stop thinking about ross right now, pacing the cell stuck between noda sia's hope and crushing despair. Getting pieces of info over the phone, not knowing what's going on outside, dreaming about being free, having a family, a life, speaking your conference is traveling the world, enjoying the little things, a cheeseburger, a sunset or warm bed. Still so Young, still so many more years to go if trump t doesn't win beyond just keeping a promise of big coin nors freeing ross would also allow trump to address the growing sentiment around state over reach.

For many big coiner's, it's not about whether ross was wrongly convicted. Instead, IT was about the idea that a double life sentence was an incredibly overzealous penalty, inspired by revenge rather than justice. Similar sentiments bubble up in the closing days of the campaign when a squirl named peanut grabs the attention of the nation. Peanut was ugh ized by new york law enforcement after they read the home of mark longo, who Operates a wildlife sanctuary, longer described police conduct as a kin to array on a drug dealer, they turned his house, subside down and kept from feeding and watering his horses for several hours.

Peanut only crime was being a square without a license, while some dismission is being a pointless story about a squirl and not something that should and ate the vote elon must put in in context during his joe rogan appearance earlier this week stating, how can IT be that we live in the land of the free and the government can barge into your home with guns, take your pets and execute them. If they can do that to your pets, what can they do to you? I know about you guys, but for the last weekend a half, my feet has been nothing but peanut means physical.

Casey handler. Dw, another connection tweet. You're mad about peanut. Wait till you learn about aren't shorts. For those of you who don't know schwarz's story, he was a redit cofounder and active is programmer.

In the early two thousands, he believed the public had a right to free access to knowledge in the digital age. Into that end, he set up a server in an M I T causes to download scientific journal articles he had legal access to. He had the intention of serving them to the public.

He was arrested in twenty eleven and four to six months. Plea deal he declined, preferred to take his case to court in order to make a point, but tragically, he took his own life shortly before the trial began. And so for some, peanut isn't just a squirrel, but an indication that the land of the free has lost its way and obviously can't bring peanut or shorts back. But he can free ross on day one.

Will that happen? Who knows? For now, though, IT is undeniable that big coin, nars and the cypher to industry more broadly are excited. There is a sense of a new lease on life and a new opportunity. And there is something to be celebrated there, even if trump wasn't your preferred candidate for now, that that is going to do IT for today's break down until next time, be safe and take care of each other. peace.