04 Aug: Hovering


"I have learned over the years that when one's mind is made up, this diminishes fear."
- Rosa Parks

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Welcome to Thursday Folks! Just like that Blackrock enters Crypto! Bitcoin continues hovering near $22,700 support with a rare signal hinting at Bitcoin price bottom. Bitcoin topside bias vulnerable if it continues to struggle below $24K and Ethereum eyes fresh rally if it clears the key breakout zone of $1,670. Solana emerges as the most-trending coin, price unmoved despite 8,000 wallets hacked. Polkadot price moves above $8, sets eye on $9 and unseats DOGE as #10 on Coinmarketcap. Big stablecoin holders do not believe in rally and stick to their strategy. 

CZ boast about BNB and Sam Bankman-Fried is all about SOL. Altcoin Sherpa provides his outlook on BTC, SOL, OP, LOOKS, and SNX - while Travis Kling says macro U-turn to make ETH "run tremendously hard." Bloomberg believes Bitcoin may behave more like US Treasury bonds and Deloitte survey clearly shows Crypto payments are the next big thing in commerce. 

Over 44MM contracts deployed to Ethereum since Genesis and Ethereum "Merge" may help attract institutional adoption. Coinbase asks supreme court to halt lawsuits and wants arbitration. After four years, Japan brings back its first crypto ATM and major Portuguese banks close Crypto accounts. Miner Tomorrow Crypto looks to go public through SPAC merger.

Lastly, Senator Warren proposes reducing Wall Street's involvement in crypto, SEC wants to reopen discovery in Ripple case, and Voyager CEO dumped $31MM in stock as shares hit record highs. 

Midday update: Block beats Q2 estimates, posts $1.798 in Bitcoin transactions and right on the heels of that Brevan Howard announce the launch of a $1B fund; folks it doesn't get better than this. With Americans' interest in cryptocurrencies dropping it's for sure the ultimate bottom signal! Meanwhile, Bitcoin has lost $23K and could bounce from where it is but on the daily chart I expect it will fall under $21K before rebounding - but I continue to believe like InvestAnswers does - the bottom is in! Lyn Alden believes Bitcoin is on track to become a Medium of Exchange. Kevin O'Leary is giving his thoughts on where he believe Bitcoin will go in the short term. Dive into the links :) 

JUST IN

  • Block Beats Q2 Estimates, Posts $1.79B in Bitcoin Transactions (Coindesk | Coindesk | BIC)
  • Coinbase, BlackRock ink crypto trading partnership targeting institutional clients (Reuters | TB | Coindesk | TDH)
  • Americans’ interest in cryptocurrencies drops almost 30% in 2022 (Finbold)

SAYLOR'S RESIGNATION

  • Michael Saylor breaks the silence on dropping MicroStrategy CEO role (Finbold | TDH)

BITCOIN & ETHEREUM

Positive

  • Bitcoin Trading Volume Remains Close To 1-Year Highs (Bitcoinist)
  • Bitcoin (BTC) on-Chain Analysis: Market Indicators Show Bottoming Signs (BIC)
  • Rare Signal Hinting at Bitcoin Price Bottom Emerges (Coindesk)
  • TA: Ethereum Eyes Fresh Rally If It Clears The Key Breakout Zone of $1,670 (NewsBTC)

Neutral

  • Bitcoin (BTC) Continues Hovering Near $22,700 Support (BIC)
  • Bitcoin’s (BTC) Wave Count Offers Outline to Future Movement (BIC)

Negative

  • Bitcoin Loses Critical Level Below $23,000, Bears Prepare For New Assault? (NewsBTC)
  • TA: Bitcoin Price Topside Bias Vulnerable If It Continues To Struggle Below $24K (NewsBTC)
  • The Pelosi Effect? Ethereum Faces Headwinds Over Area At $1,600 (NewsBTC)

ALTCOINS & STABLECOINS

  • Binance Coin Finds Support At $240 – Can BNB Barrel Past $300? (NewsBTC | Cointelegraph)
  • XRP Is on the Cusp of Potential Breakout, Says Top Trader (UToday)
  • $1 ADA Beckons As Cardano Reaches Bullish Milestone In New Wallet Addresses (ZyCrypto)
  • Solana emerges as the most-trending coin, price unmoved despite 8,000 wallets hacked (Finbold)
  • Polkadot Price Moves Above $8, Sets Eye On $9 (NewsBTC)
  • Big Stablecoin Holders Do Not Believe in Rally and Stick to This Strategy (UTodayTDH)

ANALYST'S CORNER

  • InvestAnswer: Here’s Evidence the Bottom Is In for Bitcoin (BTC), According to Host of InvestAnswers (TDH)
  • Lyn Alden: Macro Analyst Lyn Alden Says Bitcoin (BTC) on Track to Becoming a Medium of Exchange – Here’s Why (TDH)
  • Justin Bennett: Top Analyst Calls What’s Next for Bitcoin, Ethereum and the Rest of the Crypto Markets After a Mid-Week Slump (TDH)
  • Altcoin Sherpa: Here’s What’s Next for Bitcoin (BTC), Solana (SOL), OP, LOOKS, and SNX (TDH)
  • Travis Kling: Macro U-Turn To Make Ethereum ‘Run Tremendously Hard,’ Says Crypto Hedge Fund CEO (TDH)
  • Bloomberg Intelligence: Bitcoin may behave more like US Treasury bonds (Cointelegraph)
  • Deloitte: Survey Clearly Shows Crypto Payments Are The Next Big Thing In Commerce (NewsBTC)

NOTABLE VOICES

  • Kevin O'Leary: Interview with Kevin O’Leary: $28K Bitcoin next or lower? | Market Talks with Crypto Jebb (Cointelegraph | TDH)
  • CZ: Boasts About BNB's Most Recent Achievement (UToday)
  • Sam Bankman-Fried: Solana’s SOL Is The Most Underrated Token (EWN)

ACCEPTANCE/ADOPTION

  • Global hires increasingly accepting pay in cryptocurrencies: Deel report (TB)
  • Binance and Mastercard To Bring Streamlined Crypto Payments to Argentina (Blockworks | BM | TB)

CONSERVATIVE ADVOCATES CONDEMN U.S. CBDC DEVELOPMENT, ENCOURAGE BITCOIN ADOPTION

CEFI CONTAGION

  • Voyager CEO Dumped $31MM Stock as Shares Hit Record Highs: CNBC (Blockworks)
  • Crypto Lender Voyager Digital Has Received Several Purchase Offers Higher Than FTX’s: Report (Coindesk | Cointelegraph | Blockworks)

ETFs

BLOCKCHAINS

  • Over 44 Million Contracts Deployed to Ethereum Since Genesis: Research (CryptoPotato)
  • Ethereum Merge May Help Attract Institutional Adoption (BIC)
  • Cardano-Cosmos Ecosystem Bridge Launches, Network Statistics Spike (UToday)

EXCHANGES/WALLETS/ATMS/BANKS

MINING

  • Bitcoin mining stock report: Thursday, August 4 (TB)
  • Miner Tomorrow Crypto Looks to Go Public Through SPAC Merger (Coindesk | TB)
  • Paraguay’s Electricity Authority Requests Higher Rates for Crypto Miners, Partial Veto of Mining Legislation (Coindesk)

LEGISLATION/REGULATION

  • Senator Warren proposes reducing Wall Street's involvement in crypto (Cointelegraph)
  • SEC Wants to Reopen Discovery in Ripple Case; Here's Why (UToday)

PODCASTS

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TheCryptoCurator
TheCryptoCurator

I've been aware of Bitcoin since 2011 and my desire is that you will be better informed about the digital asset industry by reading my daily post. If you want to sign up for SMS alerts - text CRYPTO to +1 (214) 380-2013.


The Crypto Curator
The Crypto Curator

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