Trading the Markets LIVE (May 14, 2025) | Kris Bullock & Bijan Maleki

0:00Hi, everyone. I'm Raoul Pal, the CEO and co-founder of Real Vision. Here at Real Vision, we're committed to give you the best knowledge, tools, and network to help you succeed in your financial future. If you're enjoying this podcast, please take a moment to give it a five-star rating. It truly helps us continue to bring top-tier content. Thank you so much.

0:28happy wednesday everyone and welcome back to another session of trading the markets i'm bijan and i'm of course joined by rv crypto contributor chris bullock before we get into it today guys make sure you check out our latest Shooting the Shit episode with Rau and Julian. They go over where we currently are in the business cycle, what they're making of this recent market rally that we've been having, and where they see the opportunities right now. Julian also gave a shout out to LoFi, one of the meme coins we've been discussing quite a bit and we'll definitely be discussing today. Chris also released an update on the RV crypto portfolio this past Friday.

1:12So his portfolio update on April 25th was 30 % up since inception. But looking at the newest release, we're up 64 % since inception this week. So not too bad, Chris. Doing great there. And then a quick reminder, we discuss this stuff all day, every day in our Discord. So whether you want to stress test your ideas, get insights on new trades, you need to join us in RV Crypto and join our Discord and join the conversation. You'll also have access to Chris's portfolio as well. So yeah, just make sure you do that and open a ticket once you do and we'll get you sorted out. And as always, if you have any questions, charts or coins that you want us to discuss here, just drop it in the chat on Twitter or in our live chat on the website and we will get to as many as we can.

2:02So anyway, now that that's out of the way, Chris, let's get into it. What is on your mind this week? we got us a good old-fashioned boring market day today there's there's there's hardly anything going on to talk about no that's i mean that's not true but yeah it's just one of those days where you kind of look at the charts and pretty much everything is red but not not down much you know and it's just like well okay it's one of those days you know um and kind of on that note i wanted to quick touch on just the chart real quick just to show what i mean by that in terms of like why you shouldn't care and why it's not a big deal.

2:38So if we can look at Bitcoin here real quick and pull this up, this is just one of those days where, you know, we're going along, we're basically holding this 10 day moving average trend. And we had this huge day yesterday or not yesterday, but last Thursday where everything ran up basically off the announcement of the tariffs. And it's just kind of gone sideways since then. And really, we're just waiting for the 10 day moving average to kind of catch up to price like it, like it does like it, just like it did here last time around. And so I think we just need a few more days for this to resolve.

3:06And it's kind of perfectly convenient that it sort of came right up to this resistance level near the top of the all time high structure and has sort of bounced from there. It kind of ran out of steam and it's just going to meander sideways for probably a few more days. And then everything's going to kind of coalesce again, right? You know, probably around Friday, Saturday of this week. And hopefully it'll be, you know, another nice little bounce from there. So just a boring day, but nothing to worry about, nothing to panic. Let's just wait it out, basically. Yeah. We need these boring days every now and then.

3:40Up only action, down only action. It gets too stressful. We deserve a boring day every now and again. So I know you've been looking at the crypto dashboard and you really found a way to utilize that and really help you dig into trades and ideas. And I know offline we were talking about using it yet again. So what is the dashboard telling you this week? Yeah. So one of the things I always like to talk about with the crypto dashboard is basically this top two sections here, the top 200 market cap weight and then the top 200 equal weight. And as I've mentioned multiple times now, when the top 200 equal weight starts to kind of, you know, take the lead, this tells us that the lower market cap section of the top 200 is outpacing the higher market cap section of the top 200.

4:30And that basically means alt season in so many words. I mean, there's a little more nuance to it than that. But more or less, that's kind of what you can infer from that. And we're seeing here now on the 30-day rolling basis, the top 200 equal weight has taken the lead. It's up 37 % compared to 25%. And on a rolling seven-day basis, it's up twice as much. It's 22 % versus 11%. Now, we are having a down day today just because it's, you know, just like I just talked about a second ago. So naturally, when Bitcoin goes down up a half a percent or more, you're going to see alts come down five or six or 10 percent.

5:03So that's why on the daily, we're down a little bit. But overall, we can see that alts have primarily taken the lead in the last month, really, honestly. And I think that's in large part to a number of things which we'll get into. We know memes are outpacing, but also Ethereum is outpacing lately. And yeah, we can get into that here in a second. But that's basically what I've taken from the dashboard this week. Now, I know you can kind of drill in like I have done, and it'll show you which individual sectors are outperforming more than others. And then within each of those sectors, you know, which specific projects or assets are outperforming.

5:40And I can tell you just kind of in a summary, it's memes and layer ones are doing really well. We know the SWE ecosystem is doing well. And Ethereum, you know, having as much weight as it does is also having a huge impact on that, too. So, yeah, ETH, SWE, memes, AI, that's kind of what's going on right now. But, you know, the good thing is it's all outpacing Bitcoin. And so, you know, maybe we're getting this alt season that we've been waiting for for the longest time. And I think we, you know, we really needed ETH to do that big reversal in order for us to get this sort of larger alt season that I think we've been wanting.

6:18Because without that, there just wouldn't have been enough strength, enough momentum across the alt sector to really fuel anything long term. And so if ETH can really kind of keep the momentum that it has, then, you know, we might be off to the races as far as ETH goes. And Bitcoin dominance may have peaked. It's still early to tell, but I think we're making strides in that direction, at least anyway. Hi, Raoul here. Listen, I think we've got until 2030 before the economic singularity arrives. Now, it might not be the exact date, but it's around then. So we have about six years to figure out how to unfuck our future.

6:57I've put together a report to help you called Prepare for 2030. It's going to help you take the first steps in that journey to make sure you're secure past 2030. So just click on the link below and start your journey now. Another reason you'll want to check out Shooting the Shit with Ryle and Julian, because they do discuss exactly where we are with Bitcoin dominance and where they think we are. So love that you shouted that out. Yeah, Chris, I mean, there was a line of thinking, you know, not even that long ago, really, that the cycle, their alt season was going to be led essentially by something else other than ETH.

7:34It was like Solana, right, was probably the main idea behind that one or the main coin leading that. But it's nice to see ETH just say, hold on a second, I'm still the number two asset and have a big run. And traditionally, that is what kicks off altcoin season, right, is ETH having that nice run. That's when we know game on for our alt bags and exponential growth. So nice to see that. I see on Jamie's dashboard, it really had a really nice run in the past week or so. So yeah, I love to see that. Okay, so let's move on to some of these trade ideas that you have. So we did discuss lo-fi at the top of the show.

8:14I know Julian likes lo-fi. Sheryl likes lo-fi. We love the sweet ecosystem here as well. So why don't we take a look at what lo-fi is doing because it is doing well. Yeah, it is. I mean, as we can see, I first, it caught my eye a little bit back here, kind of towards the end of April. I was like, whoa, this is, you know, this is a notable run out of the lows. And at that time, the volume here had caught my eye too, because whenever you see a big run like this, you always want to see the volume to support it. And it doesn't always happen. In fact, lately it happens, you know, less or more often than not, it doesn't happen.

8:50So it was nice to see this big volume spike out of here. Now, granted, it did get a little bit over its skis, and so it had to kind of fully mean revert back to the 20-day moving average, which it did, but kind of on the initial announcement of the Kraken listing. So it announced that it was going to get listed on Kraken roundabout here, and then I think finally last week, or just, no, a few days ago, it actually went live on Kraken. So this is being fueled by the Kraken listing, basically. But it's really nice to see the volume pick back up and start putting in additional above average volume days and continue to drive this moving average higher on the volume side.

9:25So, yeah, I think it looks really good. It's starting to get a little bit overextended again. But we have to remember, this is a really, really low market cap asset. This is only like$60 million market cap. So lots and lots of room to run here. Of course, it's going to be volatile. you know, that far out the risk curve with that low of a market cap, it's going to have its ups and downs. But if it can catch up with the rest of some of these bigger memes, you know, a lot of the bigger memes that we talk about are up in the hundreds of millions, five, six, 700 million or more, even a billion or more in some cases.

9:58So I do think that this seems to be the premier meme coin in the SWE ecosystem. And we know the SWE ecosystem just kind of in general has been outpacing everything lately. So clearly it's got the momentum. And if you wanted to make a bet on, you know, a beta play for the premier meme coin, I think of the SWE ecosystem, I'm going to, you know, lo-fi is it. I mean, it's the one that's got the most buzz. It's the one everybody's talking about. The price, it's right here in the price. The scoreboard says so basically is really all that matters. So if you're looking for a good meme in the SWE ecosystem, lo-fi is my bet.

10:32And I think that, like I said, with a$60 million market cap, it's got lots of room to run still. So So, yeah. Yeah. Good stuff there. And it has, like, it's not just the price, right, like you mentioned. It's also the volume, right? You want to see those two things, you know, going in tandem. So, I mean, look at that huge volume spike. And it's a green bar that we had on that volume spike. So, that means people are buying, right? So, it's very nice to see that. I also want to shout out Cary Prince as well, who put Lo-Fi in a little while ago on our trade ideas. platform. So he put this, he input this trade on May 7th.

11:13So I highlighted this on Friday during our weekly review show. And at the time it was only up 33%. So now as you can see, it's up 133%. So, and it's still active. So Kerry, good job on that trade. Good job on your conviction there. We really like to see people input trades. And he also includes a chart too. So that's something we always like to see now chris i want to ask you a question about lo-fi because you did mention that kraken listing um that's coming i believe it's may 19th if i'm not no i think it's live i'm pretty sure it's live yeah it's live already yeah i believe it is okay well then um i mean i could be wrong but i'm almost positive no it is because i looked on uh i double checked i looked on coin Gecko yesterday and there was volume trading volume on listing for Kraken.

12:03So yeah, it's live as far as I know. So then quite surprising, we haven't seen, I mean, I know we see a little bit of a red candle forming right now, but pretty surprising we didn't see like that dump after because generally when these meme coins get listed on exchanges, they tend to drop after. So pretty interesting for low. Well, I mean, I think it speaks to the momentum that this has, you know, I think they're doing a good job marketing the project. I mean, if you go on Twitter, They've got a really clever, you know, everything, their artwork, their whole theme around the Yeti and just they're very active.

12:35They've got a big, you know, big following. And like I said, they're doing what they need to do to be a successful meme project. And so that's why I think that they're getting the play that they are. And it's great to see, too, not saying anything bad about SWE, but in terms of like transacting on it, but it is a newer blockchain. And so people that are brand new to the crypto ecosystem may have to, you know, learn how to how to get their money over there and actually transact on SWE. It's not like just going on Coinbase or going on your basic big centralized exchange. So the fact that it is now on one of the bigger kind of top tier centralized exchanges, you know, only helps it further.

13:12I think it's going to get open it to a whole new realm of kind of new entrance into crypto and hopefully, you know, let them onboard fully into SWE from there. But at least in the meantime, they've got direct access to to the likes of Sweet, to the likes of LoFi. And, you know, I think all of that is can only be a good thing. So awesome. So before we get now, you have another another trade that we we want to take a look at. But before we get to that, I want to take this question from Andy. Looking strictly at the X factor, this cycle between XLM and XRP, I'd go heavily in favor of XLM. What are your thoughts on that, Chris?

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14:56That's a tricky one for me. The reason I say that is because both of those are very much legacy alts. And so I tend to operate much more with the mindset of going with what's in its current hype cycle. Because the stuff that's going to have by far the most outsized gains are the things that are in its current cycle. current hype cycle haven't yet had that big initial run up and then you know a full bear market to to kind of bottom everything out and then you know it's usually only after that does the actual sort of market value of the token come into place and so since we're talking about the likes of xlm and xrp both of those are two cycles old now and um you know and so what what's going to drive them is fundamentals at this point but i think the thing to keep in mind is they're already pretty far up the market cap.

15:45You know, they're not going to do a 10x from here, probably, you know, contrary to what some people might think. But it's hard for me to say. I mean, they both have interesting narratives. They both have interesting use cases. The XLM has, you know, a lot of the government use case. XRP has kind of all the banking. It's hard for me to say. Certainly, XRP is a higher market cap. And so its ceiling is perhaps a little bit lower, but, um, so you could argue that XLM has more room to run in that regard, but in terms of what's ultimately going to drive the price higher for both of those, it's going to be hype, you know, in the end, I think this cycle.

16:26And so XRP has got a lot of hype, um, despite having a much higher market cap. This is a hard question for me to answer. The answer is I don't really know what's going to, you know, I can't tell you which one's going to be the better investment in the end. but I would say focus more on what has the most upside and you know mathematically what's mathematically plausible and probably go with that because you're right they both have interesting fundamental use cases and they likely both will do well so yeah xrp is uh currently fourth on in terms of market cap so yeah definitely really it's massive it's massive for sure and xlm is 17th on the market cap.

17:05So it definitely has room to grow, but I agree with Chris's statement. I think XRP has, they have the, they have the diehard community, which I don't know if that even exists for XLM. Correct me if I'm wrong. You know, I don't want to, if you're in the XLM community, I don't want to shame you for it, but yeah, not definitely not to the extent that the XRP army has, right? We know them. They're loud on the timeline. And XRP has beyond the community, they have just, they're always in the conversation, whether that's because of the community or whether that's because of all the connections or how high up they are.

17:40So they're always going to be on our radar. And I feel like XLM can easily be forgotten by a lot of people. And if you listen to the XRP army, they'll be the first to tell you that XRP is going to 10x Bitcoin, you know, this cycle and be the dominant crypto asset in the entire space. And so they don't care that it's already number four, you know, because to them, the sky's the limit. And I know they're all going to hate on me for saying that. But, you know, like I said, I focus much more on first cycle stuff. I'm big into SWE, you know, and that kind of thing, even meme coins and whatnot. So I'm a hype guy.

18:18I think hype is what drives the crypto market to the largest degree. And I think that that's really the way that I choose to play it. So, yeah. Yes, that's what it is. I mean, that's where we are right now. So until something else changes, that's the way we're going to be looking at it. All right, Chris. So I know you have something new to talk about. Some alpha, alpha alert here for a little bit of us. And, you know, again, reminder, as always, I always need to put these reminders, not financial advice. Do your own research, look at the charts, then decide if you want to go into it. All right, Chris, what do we got?

18:53Yeah, not financial advice. Also, I don't hold this asset. I did at one point and I sold it and I kind of regret selling it. I may or may not pick it up again. But so I wanted to talk about Hey Anon. And if any of you are familiar, if you've been around a minute in crypto, you're familiar with Danny Sesta. He was a big presence last cycle. He had the whole kind of frog nation going. And he's, you know, really interesting guy, very charismatic, very kind of, you know, every man's man, you know, but really a good, solid developer, very, just creates some really cool stuff. And a lot of his projects did really, really well last cycle.

19:29And he's got a project now called Heyanon and it's pretty cool. It's like this, it's sort of an AI prompt driven DeX, you know, or DeFi tool rather. Like you can basically go on and say, you know, if you don't know how to transact on a DeX, you can just say, hey, I want to buy, you know, swap$100 worth of ETH to USDC or vice versa and then take that and move it over to Aave and stake it here and borrow half of it against this and move it over to here and just like tell it what to do. And it'll just like go and generate the actual prompts and do it for you. It's actually really cool. And so he put out this tweet thread.

20:07Was it yesterday, May 13th? So yesterday. Yeah. And I want to kind of quickly just scroll through it. And this is super interesting. And I think if this catches on, this is going to be a bit of a game changer. So he's releasing a HUD. I'm assuming that means kind of heads up display or head up display. Forgive me if I'm not understanding it correctly, but basically it's a Chrome extension that overlays on top of your favorite Solana platforms, for example, Axiom, Pump.Fun, et cetera. And it basically just goes on and does a lot of analysis, like deep analysis, on-chain overlay, TA overlay, injects real-time data directly into your charts.

20:46So, you know, stop guessing, start acting. It basically, it breaks down and analyzes deep exactly what's going on within these new assets that are launching on platforms like Pump.Fund, you know, tracks first hundred buyers, rather. Anytime KOLs start tweeting about it, it sort of factors that in. you know, it just breaks down all of this really interesting, deep analysis on these new assets as they come out. So you don't have to sit here and kind of wonder what's going on with any of this stuff, because otherwise it's a complete crapshoot. It's totally just gambling with a lot of these platforms like Pump.Fun.

21:21And so super interesting, you know, and it just kind of is live in real time and it generates all this additional data for you and helps facilitate you buying these assets or selling these assets or interacting with them. And like I said, I think it could be, I think it could be a bit of a game changer if, you know, it catches on. And so I wanted to share this and then kind of real quickly, just sort of getting back to how HeyAnon works. You know, like I said, you can go on this website. It's just really, it looks like a, like a chat GPT prompter, you know, with a little instruction over the top of it.

21:55And you just type like, hey, I want to swap 100 USDC to wrapped ETH on Ethereum, deposit that all on Aave. You can have it bridged to Arbitrum. It can do all of this stuff. You just kind of learn the little sort of syntax. It's got a list of all the commands. You learn the syntax, tell it what to do, and it just kind of goes and does it all. And really cool, really innovative, I feel like. And this is the kind of stuff that he does. And so I think we're starting to see that reflected in the chart. You know, initially it came out, it was a victim of sort of timing when it launched. It sort of peaked around when everything else peaked, you know, at the beginning of the year.

22:31And so sort of unfortunate timing in terms of the launch. And so it suffered its price a little bit. But since then, you know, he's put out a lot of really positive announcements. He's delivered on the tech that he's talked about. And, you know, we're starting to see price come back around. And the price right now, the market cap is only about 104 million. So it's still really, really low. I think another thing I really like about this project and sort of not surprising to see him do is it runs on eight different blockchains. You know, most of these projects, they'll run on one, maybe two, maybe three, you know, if they're really innovative.

23:04But like, he's got this running on eight blockchains and that makes it so he can facilitate the bridging and the interoperability between all these blockchains super easily. And I think that that's, you know, having it run on that many blockchains is only going to serve it going forward. And so, again, I think this is somebody you don't want to fade. I think anything that Danny works on is something that, you know, has a strong potential. And he, like I said, he has a track record of success. Now, granted, there's a little bit of controversy surrounding him and not everything he's done has done well over the long term.

23:33But he, you know, he knows how to put out an innovative product and very unique. And so I think he's somebody to follow. And I think that Heyanon is a project that I think is going to be interesting, you know, as we play out the rest of the year. So it's definitely going to be on my radar. and I just wanted to share it with everybody else because, because yeah, I think good things are happening there. Awesome. Great, great shout out there. Love the, love the breakdown as well. Give us a full picture on Danny Sesta and the coin. So that's the type of research we love to see. So I want to take this question from Ruth.

24:10Do you think SWE will behave the same way as Solana did in 2021? It had a huge ROI during that bull run. What do you think, Chris? I mean, yeah, that's my base case. Sure. You know, because just like Solana was in 2021, it was in its initial hype cycle. It wasn't running up because of its fundamental, you know, attributes. I mean, in all honesty, as much as I love Solana now, Solana was a bit of a dumpster fire back in, you know, 2020 and 2021. Not to say that there weren't quality devs working on it, but it was just in its infancy. It was a brand new blockchain. It was people were just learning how to code on it.

24:47But, you know, so it was very sort of rough around the edges and it hadn't it wasn't mature. It wasn't a mature product yet. And I think we're seeing that with SWE. And I would argue that SWE actually has a bit of a bit more of a mature product by this point in time than Solana did in its, you know, this far along back in 2020 and 2021. So, yeah, I think that it's it's got great marketing. It's got great, an amazing team behind it. and I don't see any reason why it's not going to catch the hype, you know, and run up. Now, I don't know if it's going to do the same percentage gains that Solana did back then.