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It's FRIDAY Folks and the beginning of July! Once again we've made it to the end of the week and it's been hard right? Last week at this time Bitcoin was trading around $21,231.66 and right now it's trading at $19,167.21. For Q2 it's the worst quarterly performance in a decade and I can confirm it; this bear market is the worst I've been through.
That said, like MicroStrategy, El Salvador smashed the BUY button and in time we will understand just how epic this action was. Justin Bennett and other Analyst believe we have more downside to go so keep saving up that dry powder so you can smash the BUY button at amazing prices.
We are now starting the second half of 2022 - fingers crossed it will be better than the first half, if not 2022 will go down as the worst year ever; we thought COVID was bad - Yikes!
BREAKING
- BlockFi strikes $680 million credit deal with FTX US, outlines acquisition path (TB | Cointelegraph | TDH | Blockworks | Bitcoinist | TDH)
- Three Arrows Capital files for Chapter 15 bankruptcy in New York (TB | UToday | Blockworks | EWN)
JUST IN
- El Salvador Snaps Up $1.5M More Bitcoin, But Sits Heavily in the Red (Blockworks | UToday | EWN | Cryptoglobe | Bitcoinist | Coindesk | BM | Decrypt)
- U.S. governor Chris Sununu signs crypto-friendly bill into law to ‘take advantage of booming tech’ (Finbold)
BITCOIN
Positive
- None.
Neutral
- Bitcoin Whales Now Control 45.6% of BTC Supply & Continue to Aggressively Accumulate (UToday | Decrypt)
Negative
- $15k Possible Bottom For Bitcoin? “Delta Cap” Says So (NewsBTC)
- New Bitcoin Record Paints Incredibly Bearish Picture As BTC Struggles At $19,000 (NewsBTC)
- June gloom takes on a new meaning in another 2022 down month (Cointelegraph)
- Bitcoin drops 56% in Q2 2022 its worst quarterly performance in a decade (Finbold | Decrypt | TB | Cointelegraph | Coindesk | Cryptoglobe)
- Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive (Cointelegraph)
- Five reasons bitcoin had its worst quarter in more than a decade (CNBC)
- Deutsche Bank Strategists Reveal The Real Reason Crypto Free Fall Is Likely To Continue (ZyCrypto)
ALTCOINS
- Enormous 1 Billion XRP Unlocked on Ripple Escrow Wallet, 340 Million XRP Transferred Prior to That (UToday | Cryptoglobe)
- Dogecoin mission to the moon reportedly still on despite delays (Finbold)
STABLECOINS
- Tether continues to reduce commercial paper in sharp reduction since March (Cointelegraph)
- The Historic Significance of Tether’s $16B ‘Bank Run’ (Blockworks)
ANALYST'S CORNER
Bullish
- Dan Morehead: Crypto Likely To Rally in Coming Months As Traditional Assets Fall, Says CEO of $5,100,000,000 Hedge Fund (TDH)
- Ki Young Ju: Crypto Investors Ready To Deploy $25,000,000,000 Once Bottom Is In, According to Quant Analyst (TDH)
- CoinMarketCap: Crypto community sets bullish Bitcoin price projection for July 31, 2022 - $36,668 (Finbold)
- CoinMarketCap: Crypto community sets Ethereum price prediction for July 31, 2022 - $2,529 (Finbold)
Bearish
- Rekt Capital: Here’s When the Bear Market Bottom Will Fully Form, According to Top Crypto Analyst (TDH)
- Altcoin Psycho: Many Crypto Traders Are About To Get ‘Torched’ and Completely Misjudge the Market, Warns Top Analyst (TDH)
- Michael Burry: ‘The Big Short’ warns stocks and crypto crash is ‘maybe halfway’ through (Finbold)
- Justin Bennett: Top Crypto Trader Warns Bitcoin Bottom Still Not In (TDH | TDH)
NOTABLE VOICES
- Garry Kasparov: Bear market? “So what,” says World Chess Champion Garry Kasparov (Cointelegraph)
- Charles Hoskinson: Cardano needs more developers as the network expands (Finbold)
ACCEPTANCE
- A Look at Barcelona’s Cardano Hotel, Where You Can Pay in $ADA (Cryptoglobe)
ACQUISITIONS
- Crypto Lender Ledn Joins the Acquisition Battle for BlockFi (Report) (CryptoPotato | TB | Coindesk)
ETFs
- Not giving up: VanEck refiles with SEC for spot Bitcoin ETF (Cointelegraph | Finbold | Coindesk | ZyCrypto)
- Grayscale Faces Uphill Battle With Lawsuit Against SEC (Blockworks)
BLOCKCHAINS
- Layer-1 blockchains: How crypto winter could slow the challenge to Ethereum (Cointelegraph)
- Ethereum fork a success as Sepolia testnet gears up to trial the Merge (Cointelegraph)
- Ripple: Government of Colombia Set to Utilize XRPL Blockchain for Land Registry (UToday | Bitcoinist)
- TON Foundation launches Ethereum Name Service-like domain names (Cointelegraph)
OPENNODE, LEMON CASH TO ONBOARD 1 MILLION ARGENTINES TO BITCOIN LIGHTNING NETWORK
EXCHANGES/WALLETS
- Coinbase denies reports of selling customer data to the US government (Cointelegraph | CryptoPotato)
- Self-custody is key during extreme market conditions: Here's what experts say (Cointelegraph)
HOW BITCOINERS SHOULD USE THEIR HARDWARE WALLETS FOR ADVANCED SECURITY
MINING
- Is It Still Profitable? Bitcoin Mining Economics Explained (Blockworks)
- Bitfarms' bitcoin mining revenue fell roughly 40% in June (TB)
- Bitcoin Miner Greenidge Faces Setback as Regulator Denies Permit Application (Blockworks)
- Bitcoin mining stock report: Friday, July 1 (TB)
CEFI SAGA
- Voyager Digital suspends withdrawals, deposits and trading (TB)
- Babel Finance plans to work with restructuring group Houlihan Lokey: CoinDesk (TB | Blockworks)
- Celsius Shareholder BnkToTheFuture Proposes Bitcoin Investments, Restructuring in Rescue Bid (Coindesk | Coindesk | Finbold)
PODCASTS
- Decrypt Daily: June 30: Is ETH Dropping Below $1000?
- The Breakdown: Grayscale’s Legal Battle Against the SEC
- The Crypto Conversation: Sphere 3D - Bitcoin mining in the bear market
- Bitcoin Magazine: The Biggest Wave of Bankruptcy is on its way w/ Guy Swann
- The Pomp Podcast: #1027 Darius Dale On How To Navigate These Difficult Moments In The Market
- The Scoop: The Solana phone is the leap that Google and Apple won't take, says Anatoly Yakovenko
