Carl Runefelt shared valuable insights in his latest video, providing dire warnings about fraudulent crypto wallets and a detailed analysis of current market trends. The CoinSpeech team has collected the most important takeaways from his recent appearance, which you can find summarized below. Carl Runefelt’s new video is embedded at the end of the article for your viewing.
Beware of Fake Phantom Wallets on the Apple Store
The episode started with an urgent warning: “Be careful on the Apple Store; there is a fake Phantom wallet. Do not engage, download, or install the wallet because it’s going to drain you,” Carl emphasized. This warning was prompted by a tweet from a friend, mday, who had unfortunately been hacked and lost over a hundred grand.
The fake wallet appears above the real one in the Apple Store listings, which can mislead even experienced crypto users. Carl urged viewers to “double check the developer before installing any crypto apps.”
Market Analysis: Bitcoin’s Trend and Volume Concerns
The discussion shifted to the state of Bitcoin. According to Carl, Bitcoin has been consolidating between $61,000 and $62,000. Crypto Kid expressed concerns over the low trading volume: “When you have low volume, it’s not a great indication. It means that fewer people are interested in purchasing the asset.”
If Bitcoin breaks below the $60,700 level, Crypto Kid suggests we could see prices between $47,000 and $53,000. However, he remains hopeful that $58,000 could hold, acting as a short-term retracement point.
The S&P 500 and Its Impact on Bitcoin
Carl discussed the relationship between the S&P 500 and Bitcoin, highlighting the crucial role of the money supply. He illustrated how money supply increases lead to a positive response in the stock market, stating: “When you print money, you are stimulating the economy.” If the money supply declines, a significant drop in the S&P 500 is anticipated, which may similarly impact Bitcoin negatively.
Macro Timeframe Concerns and Political Tensions
With respect to the long-term outlook, Carl noted that Bitcoin had broken down below an ascending triangle, but believed the 21 EMA could serve as a “beautiful buy-the-dip opportunity.” However, he warned of potential political tensions toward the end of the year, which historically sees increased interest in Bitcoin.
“When they have to flee their countries, the only way they can move their assets freely is by putting them into Bitcoin,” said Carl, emphasizing Bitcoin as a hedge against political risk.
Audience Engagement and Final Words
Carl closed the segment by appreciating the audience engagement: “Now is a moment where it’s boring…but, along with these challenges, it’s the perfect time to delve deeper into the market.” He reiterated that current market constraints provide a unique opportunity to learn and prepare for potential gains.
Watch the full insights from Carl Runefelt in the video below: