Cousins' Bitcoin ETF Prediction

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GM

Today’s Newsletter Covers:

🚀 Cousin’s BTC ETF Take
💸 Forex Breakdown
💪 New Year, New You
📈 Degen Of The Week: Nancy Pelosi

A new newsletter out means a new raffle, and this time it’s awesome. We’re raffling off a brand new and never-been-used Bobcat Miner 300. For those that are unaware these bad boys mine Helium Coin $HNT (currently trading at $7.41 USD). The product comes with a certificate of authenticity.

🎟️ Details to enter:

• Share this newsletter on Twitter and tag us @heinouspumps so we can keep track of entries

• Make sure to comment on what you found interesting about today’s issue / why others should read it!

Winner will be announced next week, good luck 🤞

Gm legends! First, I would like to apologize for not releasing any newsletters in the last two weeks but I have good reason. As you know in the last few editions we released I was calling for a local top: the indications that we were nearing one were in my eyes evident. Mainstream media was getting bullish, funding and open interest were through the roof, and last but not least people who shouldn’t be making money were. That thesis turned out to be correct as we saw a market-wide dump where the majority nuked anywhere from 10%-20%. It was an extremely fast violent dump that was bought up with haste. Following the dump, billions of dollars were wiped out in open interest and funding was reset, which is exactly what I was looking for in order to proceed with the next leg up.

Fast forward to this week, and HOLY SH*T the ETF was finally approved, arguably one of the biggest days in Bitcoins history. It's pretty safe to say it was not a sell-the-news event as we saw the price skyrocket for the next few days and finally got that long overdue god candle on Ethereum that we had been waiting for. Now what does all this mean moving forward?

In my opinion, we still have some ways to go. Regardless of what the internet tells you, I’m more than confident when I saw the majority was sidelined and has been for a while, very few of us actually bought $20,000 BTC and held along for the ride. I'm looking for the market to have one more push, particularly looking for BTC to creep into the $50,000 area and from there distribute and chop around a bit while ETH and our beloved altcoins can go absolutely mental.

Unfortunately, I don’t think we are fully in the clear to rocket straight to $100,000. As I mentioned above, I’m looking for one more big push from the market, ETH and altcoins to run a little, BTC headed towards $50,000 before we get a nasty correction. The correction should take a few months to complete and take us towards $30,000 BTC one more time, before going absolutely parabolic in the second half of 2024.

Lastly, I want you guys to understand how BULLISH this ETF really is long-term. On opening day the Bitcoin ETF traded $4.5 Billion dollars. The previous volume high for an ETF was $2.1 billion in a day, and that happened to be gold back in 2004. Yes, there is inflation and a few other metrics to take into account however I want to let what I just said sink in. There is huge demand for Bitcoin and cryptocurrency and there is no doubt in my mind the next few years are going to change many many lives of those in the space. Remember to proceed with caution over the next month or two as I am quite confident we will see a reverse. Nonetheless, stay away from leverage and stack STRONG projects on significant dips given. There is no doubt in my mind, that we are going to make it.

• Bitcoin ETF: After SEC approval, trading commenced yesterday and went without a hitch. Over $6 Billion USD in volume was traded amongst Bitcoin ETFs in a single day!

• Cathie Wood: Has an insane prediction for Bitcoin. Her bear case is $250k, bull case $1.5 million, and base case $600k. Remember John Mcaffee’s prediction? lol

• Vanguard: Has announced they are blocking all Spot Bitcoin ETF investment trades. (BW)

• Celsius: Has transferred 40k staked Ether ($90M) to Coinbase or FalconX for customer repayment. (@WuBlockchain)

• BlackRock: Right before approval slashed ETF fees to .25%, from original .3% (WG)

• Mercari: Billion dollar eCommerce platform Mercari to accept Bitcoin (P)

• Elizabeth Warren: Hates crypto (no surprise) and even got community note’d when she went crying on X about the SEC approval. See the post here.

💸 DOLLAR INDEX - BEARISH

DXY has been consolidating for the past week in the weekly bearish FVG. The yearly candle can often be a power of 3, meaning that we consolidate at the beginning of the year, manipulate during the middle of the year, and then distribute towards the end of the year.

I am still bearish on DXY and expect the sell-side liquidity at 99.578 to be taken out. However, I am cautious of the current low probability conditions. As said above, we may consolidate at the beginning of this year, so do not blow your account on low-probability conditions before we get to the high-probability conditions.

💸 EUR/USD - BULLISH

Overall, I am still bullish on EUR/USD, my target remains the Buyside liquidity at 1.11498.

This week Price consolidated, meaning it was a low-probability trading week. We’ve been stuck in the consolidation range for 8 days, and realistically I’m waiting for Price to break out and give better conditions to trade in. As mentioned above, I still expect EUR/USD to seek higher prices moving forward.

💸 GBP/USD - BULLISH

In Sync with DXY, GBP/USD has been stuck in a consolidation range. I still want to see the Buyside liquidity at 1.29959 taken out, however, it may take a while for Price to get there.

🗞️ News For Next Week

It’s a new year and the resolutions are pumping (no pun intended). Gyms are packed to the brim as normies take a stab at getting in shape. THIS IS GOOD. If you are annoyed that people are trying to get their sh*t together and get after it - you are a part of the problem. Remember, if you are a gym vet there was once a day you had no idea what you were doing in the gym, and make sure you don’t be that guy/gal that intimidates the newbies. Tip: If you see someone who is obviously new to the gym instead of critiquing their form and being the “macho man” just give them a simple compliment such as “Hey those are dope shoes”. Something as simple as this can go a long way for someone new to the gym and build their confidence. Form and technique will come with time, but losing confidence by being intimidated to go to the gym is a shortcut to failure for someone new. Who knows, the normie you help lift could be a hotshot real estate developer, and before you know it, your cousins are doing big deals together.

Ah yes, a tale as old as time…

Congress members trade millions of dollars in high-risk options of companies that they actively vote legislation on.

Today’s Degen Of The Week (DOTW) is our favorite stock picker-in-chief Nancy Pelosi!

Paul and Nancy Pelosi (whose net worth is above $160 million even though her avg. salary is $223,500) bought over 50 call options on $NVDA and sure as sh*t the stock flew after it was announced that NVDA is allowed to sell slower chips to China.

Not to mention in July of 2023, the couple announced that they sold 25,000 shares of Nvidia at an average price point of $165.05 a share — netting themselves a sale price of $4.125 million.

You can’t make this sh*t up if you tried. This is just one of the countless trades that Nancy and Paul have made over the past couple of years that just always seem to go in the right direction - funny how that works. The cherry on top is at the same time as she is betting millions in the market she is actively fighting against bills being brought up to restrict congress from trading … a true degen that is worth admiring.

To be fair there are TONS of congress members on both aisles making eye-brow-raising stock trades that in many eyes have insider trading written all over it. One Twitter account @quiverquant tracks this activity very well.

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Written by: Cousin Crypto, Gannon

Disclaimer: Heinous Pumps Newsletter does NOT provide financial advice. All content is for informational purposes only. Heinous Pumps is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses. Heinous Pumps is a satire-based newsletter and should not be taken seriously.