Why Bitcoin’s Bear Market Is Ending
Video Overview & Insights
The Last Trade: Jackson, Michael, and Brian make the case that Bitcoin is carving out a structural bottom as old-coin distribution collapses and the worst of ETF and treasury-company selling exhausts itself. They break down Japan reclassifying crypto as a financial product and slashing its effective tax rate from 55% toward 20%. They dig into why the Clarity Act, not the administration, is the real green light for Wall Street. They close on Morgan Stanley's $4 to $8 trillion AI capex wave and the launch of Onramp's Back to the Basics campaign.
My final settlement is the last trade
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Jackson is the clear favorite. Gatekeeping Michael could possibly move up the list if he would stop hoarding the Onramp Quarterzips, ffs.
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As usual, very good work.
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The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.
Clearly a mid-week rip, y'all look stressed -- Michael espeically!
🎙️ About This Episode
The crew opens on Alex Thorn's chart showing 2026 on pace for less than half the awakened old coins of 2024 and 2025, and Will Clemente's read that ETF and treasury-company selling has largely exhausted itself while long-term holders sit on record supply. Brian sees Bitcoin grinding into the $90Ks by year end, with 2027 as the year the market realizes it isn't dead. They break down Japan reclassifying crypto as a financial product and cutting its effective tax rate from 55% toward 20%, then argue the Clarity Act's real power is air cover: defined CFTC and SEC roles that let JP Morgan, BlackRock, and DTCC lay tokenization plumbing without fear of a Warren-style ambush. The back half runs through Interactive Brokers listing nine tokens, Bessent's Iran wallet seizures and Fort Knox gold claim, and Morgan Stanley's forecast of $4 to $8 trillion in AI capex by 2028. They close on Onramp's Back to the Basics launch: Brian's fundamentals report, zero-fee DCA, 50% off Bitcoin trades through Labor Day, and 100 free Bitcoin IRAs under code basics.
With the Bitcoin Policy Institute blowing the whistle on these foreign funded campaigns interfering with domestic Defense industrial policy, hopefully that will earn the BPI some brownie points with the people in power and maybe open the door to more Bitcoin friendly policies in the future.
🧠 Chapters
00:00 - Introduction and Podcast Announcements
I'm just here for Jackson
03:31 - Bitcoin Sentiment and On-Chain Distribution in 2024
08:17 - On-Chain Valuation Metrics and Market Sentiment
Corsicana, TX. Now there is a town I haven’t heard of for a long time. I spent a month in “the Can” in 2003 searching for Space Shuttle Columbia parts.
12:42 - Japan's Crypto Legislation and Tax Reforms
14:34 - US Legislation and Global Regulatory Race
Michael with a sick burn to open!
I have the last trade ahead of the final settlement right now. The Michael Jackson rivalry is too compelling. You just can't beat it
20:35 - Implications of Japan's Crypto Policy for US Markets
25:46 - Market Outlook and Institutional Flows
Michael is the most powerful super-friend of the Onramp pantheon ⚡👊⚡
33:42 - Tokenomics and Altcoin Dynamics
37:22 - Iran Crypto Asset Seizures and Geopolitical Risks
The bot swarm in the comments is impressive.
43:56 - Data Center Buildouts and AI Infrastructure
49:10 - Back to the Basics: Bitcoin Fundamentals and Education
JUST APED WOOBIT… THIS HAS 100X WRITTEN ALL OVER IT.
58:27 - Conclusion and Final Remarks
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Yeah man, it's madness out there, Woobit is my bet for this week, it's looking primed for 100x.
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Yeah man, it's madness out there, Woobit is my bet for this week, it's looking primed for 100x.
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Telegram groups going crazy over Woobit… I've never seen it this loud.
🎧 The Last Trade | Final Settlement | SVN Live