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- Robin Sharma

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Happy Monday Folks! Happy 4th for those in the US. It continues to be the same boring market action with many trying to contemplate what Bitcoin will do. I say, remain patient and be in position to buy if we go lower, HODL in the meantime. Bitcoin will do what Bitcoin will do rather we watch it 24 hours a day or not. 

Altcoins are not fairing any better so there really isn't anywhere to hide at this point and based on your risk tolerance there could be opportunities for those assets. More platforms continue to freeze withdrawals and layoff staff as the CEFI Contagion continues. But again I stress, all is not lost - there is a lot of building happening rn so keep reading, watching, and listening with me. 

CRYPTO MARKET

• Bitcoin Burdens Balance Sheets of Tesla, Block, MicroStrategy and More (Blockworks)
• US Millennials Own More Crypto Than Mutual Funds: Survey (CryptoPotato | TDH)
• Dutch University recovers Bitcoin ransom payment worth 12x original value (Finbold)

BITCOIN

Positive

• Bitcoin price spikes to $20K as whale bought BTC confirms support (Cointelegraph)
• Mounting Support For Bitcoin At $19,000 As Market Ushers In A New Week (NewsBTC)
• Bitcoin Whales And Investors Heavily ‘Buying The Dip’ At $19k Even As Miners Adopt Risk-Off Approach (ZyCrypto)
• Indicator That Predicted Bitcoin's Bottom During Last Two Bearish Cycles Flashes Again: Details (UToday | ZyCrypto)
• Bitcoin Funding Rate Turns Deep Red, Short Squeeze Soon? (Bitcoinist)
• Can This Bitcoin Ratio Have Hints For A Bottom? (NewsBTC)

Neutral

• Bitcoin Wave Count Offers Some Clues to Direction of Future Trend (BIC)
• Bitcoin’s inverse correlation with US dollar hits 17-month highs — what’s next for BTC? (Cointelegraph)

Negative

• Bitcoin declines 44% since last U.S. Independence Day; What’s next for BTC? (Finbold) 
• ‘Wild ride’ lower for BTC? 5 things to know in Bitcoin this week (Cointelegraph)
• Bitcoin Stagnates As Whales Continue To Dump (NewsBTC)
• Bitcoin Flirts With $19k As Key Metrics Point At $15,000 Price Floor (ZyCrypto)
• Bitcoin addresses in loss hit all-time high amid $18K BTC price target (Cointelegraph)
• TA: Bitcoin Remains In Downtrend, What Could Spark Sharp Upside (NewsBTC)
• Tesla Expected to Report $440 Million Writedown on Its Bitcoin Holdings (UToday | BIC | Bitcoinist)

FIAT KNOWLEDGE: ONLY BITCOIN CREATES A CULTURE THAT REWARDS VERIFICATION

ALTCOINS

• Top 5 cryptocurrencies to watch this week: BTC, SHIB, MATIC, ATOM, APE (Cointelegraph)
• Dogecoin Traders Are Long 57% on Binance; Here’s What This Signifies for Price (UToday)
• Solana (SOL) Down 20% in 7 Days, Hardest Hit Crypto Project in Top 10: CoinMarketCap (UToday)
• Monero (XMR) "Eating Bitcoin's Lunch"; Here's What This Means (UToday)

STABLECOINS

• Circle denies rumors USDC stablecoin is troubled amid market downturn (TB | Cryptoglobe | ZyCrypto)
• USDC Transparency Stack Upgraded by Circle: Why Is This Crucial for Stablecoins? (UToday)
• Argentines Embrace Crypto Following Resignation of Economy Minister (CryptoPotato)

CEFI/DEFI

• Celsius repays $120 million stablecoin debt to Maker protocol (TB | Cointelegraph)
• Celsius Network Reportedly Lays Off 25% of its Workforce (EWN | Blockworks | TDH)
  
• Celsius token records double-digit gains despite lending platform turmoil (Finbold)
• Voyager Seeks ‘Strategic Alternatives’ Following Pause to Withdrawals (Blockworks)
• Vauld halts client withdrawals and hires advisors for potential restructuring (TB | Cointelegraph | Blockworks | Bitcoinist | ZyCrypto)

ANALYST'S CORNER

Bullish

• InvestAnswers: Host Explains Why He Is Still Bullish on Bitcoin ROI Despite Market Crash (Cryptoglobe)
• Rekt Capital: Bitcoin (BTC) Approaching ‘Peak Opportunity’ Zone, According to Top Crypto Trader (TDH)
• Ki Young Ju: Ancient Bitcoin Whales Could Cause BTC Seller Exhaustion, Says Quant Analyst – Here’s What It Means (TDH)
• Michael van de Poppe: Analyst Says BNB Quietly Flashing Strength Despite Market Correction, Updates Bitcoin Outlook (TDH)
• Alex Krüger: Bitcoin Flashing Major Bottom Signal, According to Economist – But There’s a Catch (TDH)
• Crypto Industry Players Say Market Correction Is ‘Healthy’ Despite Historic Selloff (Cryptoglobe)

Bearish

• Coinshares: Institutions Turn Cautious on Bitcoin As Short BTC Products See Record Inflows: CoinShares (TDH)
• Tone Vays: Veteran Trader Warns of Another Bitcoin Collapse After ‘Disastrous’ Week – Here’s His Downside Target (TDH)
• Capo: Crypto Trader Reveals Targets for Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and Solana (SOL) (TDH)
• Justin Bennett: Steep Corrections Incoming for Dogecoin (DOGE) and VeChain (VET), According to Analyst Justin Bennett (TDH)
• Peter Brandt: U.S. Dollar Is Breaking Out, Here's How It Affects Bitcoin and Cryptocurrencies (UToday)

NOTABLE VOICES

• Anthony Scaramucci: Hedge Fund Veteran Says FTX CEO Sam Bankman-Fried May Have Signalled Bottom in Crypto Markets (TDH)
• Pantera Capital: What Went Wrong With Terra, Celsius, and Three Arrows Capital (Cryptoglobe)
• Cathie Wood: ARK Invest’s CEO Says Crypto Is Going To Work in the Long Run – Here’s Why (TDH)
• SBF: Denies FTX is eyeing distressed crypto mining companies (Cointelegraph)
• Vitalik Buterin: Ethereum founder blasts Bitcoin developer for attacking the PoS consensus mechanism (Finbold)
• Chamath Palihapitiya: Billionaire Says Bitcoin Has To Be Regulated Like a Security (TDH)
• Seth Klarman: Billionaire Value Investor ‘Can’t See the Point of Crypto,’ Lauds Gold Instead (Cryptoglobe)
• Johnny Lyu: KuCoin CEO Addresses FUD, Says Crypto Exchange Has Zero Plans To Halt Withdrawals (TDH)

ACCEPTANCE/ADOPTION

• Visa launches exclusive ‘no-limit’ Bitcoin card in UAE (Finbold)

BLOCKCHAINS

• Multichain adds Rootstock to its blockchain bridge ecosystem (Cointelegraph)
• Ethereum Name Service records second-highest ENS name sale (TB)
• BNB Beacon Chain Becomes Open Source: What Does This Mean for Businesses? (UToday)
• Colombian Government Launches National Land Registry On XRP Ledger For Over 50 Million People (ZyCrypto | TDH)
• Fork of July: Cardano Vasil upgrade successfully launches on testnet (Cointelegraph | EWN | Finbold | UToday | ZyCrypto | NewsBTC | NewsBTC)

EXCHANGES

• Binance Has The Largest Cash Reserves And Wants To Bail Out 50 Companies Going Through Crypto Bear Market (ZyCrypto)
  
• Voyager Digital shares drop 34% as crypto platform limits services (TB)

MINING

• Eyes On POW: Biden Administration To Release Bitcoin Mining Report In Few Weeks (Bitcoinist)
• U.S. 2nd-largest electric power company reportedly explores Bitcoin mining (Finbold | Bitcoinist)
• SBF denies FTX is eyeing distressed crypto mining companies (Cointelegraph)
• GPU Prices Decline 57% Since Jan As Ethereum Mining Profits Go Down (Bitcoinist)

THE BAD

• Solana-Based Liquidity Protocol CremaFinance Hacked for $8.7M (Blockworks)
• Crypto Firms In The US Have Paid Over $3 Billion In Fines With The SEC Being The Largest Collector (ZyCrypto)

PODCASTS

• Stephan Livera Podcast: SLP390 Dan McArdle - Which Bitcoin Narratives Are Dead?
• The Pomp Podcast: #1030 Adam Singer Shares His Bitcoin Concerns With Pomp 
• The Wolf Of All Streets: How Crypto Becomes A 100 Trillion Dollar Market
• What Bitcoin Did: Bitcoin Behind the Veil with Craig Warmke
• The Breakdown: After Bitcoin Maximalism