05 Jul: Hardened HODLers are HODLING

By theinspired | Inspiration | 5 Jul 2022


“Happiness is not in the mere possession of money;
it lies in the joy of achievement, in the thrill of creative effort.

- Franklin D. Roosevelt

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Happy Tuesday Folks! Hope those of you in the US had a great time with family, friends, and fireworks. Speaking of fireworks Bitcoin attempted to get a little bit of a bang but it hit a hard ceiling and it is back under $20K once again. Are we nearing the end of this horrible bear market? That's the major discussion and no one can say for sure if we are or aren't but Analyst's sentiment is neutral to bullish.  At the end of the day Bitcoin is going to do what Bitcoin does and that is go up and down. Where you buy and where you sell is decided by you classification of an investor or traders. If you are an investor, Bitcoin is on sale. If you are a trader, you should read, watch, and listen for the signal on when to buy and sell. 

CRYPTO MARKET

  • Crypto community eyeing three macro events to tip crypto scales in July (Cointelegraph)
  • As Macroeconomic Clouds Darken, Only Hardened HODLers Remain in Crypto (BIC | Cointelegraph)

BITCOIN

Positive

  • Bitcoin Taker Buy/Sell Ratio Short-Term Bull Signal Goes Off (NewsBTC)
  • Bitcoin Reserve Risk Falls To 2015 Levels, What Happened To BTC’s Price That Year? (NewsBTC)
  • Small Bitcoin Investors Actively Accumulate Cryptocurrency (UToday)
  • Bitcoin (BTC) Creates Double Bottom Pattern at $19,500 (BIC)
  • Hodlers and whales: Who owns the most Bitcoin in 2022? (Cointelegraph)
  • Key Bitcoin Indicator That Timed Previous Market Bottoms Suggests $BTC Is Highly Undervalued (Cryptoglobe)
  • Bitcoin Saw Largest Ever Monthly Withdrawal From Exchanges In June (Bitcoinist)

Neutral

  • Does Sentiment Shifting Slowly Signal A Crypto Recovery Ahead? (NewsBTC)

Negative

  • Bitcoin Trading Volume Sinks More than $2 Trillion in Second Quarter (BIC)
  • Bitcoin faces fresh pressure as US dollar crushes gold, risk assets (Cointelgraph)
  • Institutional investors shorting Bitcoin made up 80% of weekly inflows (Cointelegraph)
  • Short Bitcoin Products Make Up Most of Last Week’s Inflows (BIC)

ETHEREUM

  • Ethereum (ETH) Creates First Higher Low Since June 18: Multi-Coin Analysis (BIC)
  • Active Ethereum Addresses Touch 2020 Levels, Will Price Follow? (NewsBTC)

ALTCOINS

  • Algorithm Known for Outperforming Bitcoin and Crypto Reveals Blue-Chip Altcoin Allocation for The Week (TDH)
  • Latest XRP Milestone Bigger Than We Realize, Says Crypto Legal Expert Jeremy Hogan (TDH)
  • Summer Inside Crypto Winter: Solana Steals The Lead From Ethereum (Bitcoinist)
  • Dogecoin Now Available on FTX Japan: Details (UToday)

STABLECOINS

  • Circle's USDC on track to topple Tether USDT as the top stablecoin in 2022 (Cointelegraph)
  • Investors Waiting to Deploy Vast Stablecoin Reserves, Analysts Say (Blockworks)

ANALYST'S CORNER

Bullish

  • InvestAnswer: Crypto Analyst Predicts Bitcoin (BTC) Triples in Price Based on One Metric – Here’s His Timeframe (TDH)
  • DonAlt: Sidelined Capital Could Flood Back Into Bitcoin (BTC) if This Happens, According to Top Crypto Analyst (TDH)
  • CoinMarketCap: Crypto community sets Cardano price projection for July 31, 2022 - $0.88 (Finbold)
  • Dave the Wave: Analyst Who Nailed May 2021 Bitcoin Crash Says BTC Flashing Major Bear Market Bottom Signal (TDH)
  • JP Morgan: Why This JPMorgan Strategist Says The Worst Of The Crypto Bear Market Is Nearing Its End (ZyCyprto)
  • TechDev: Is Bitcoin Set for a Multi-Year, Parabolic Run-Up? Top Analyst Looks at Long-Term State of BTC As Markets Stall (TDH)
  • Pentoshi: Crypto Analyst Predicts Wild Cardano (ADA) Price Swing, Sets Downward Target for One Ethereum Rival (TDH)

Neutral

  • ARK Invest: 'Neutral to positive' on Bitcoin price as analysts await capitulation (Cointelegraph)
  • CryptoQuant: Analyst Warns of Increased Bitcoin Volatility as Futures Traders Step In (CryptoPotato)

Negative

  • Justin Bennett: Crypto Analyst Says Surging US Dollar To Come Down Hard on Bitcoin (BTC), Ethereum (ETH) and Stock Market (TDH)
  • Cumberland: Potential crypto liquidations are 'hanging over the market like a cloud' (TB)
  • Capo: Ethereum and Cardano (ADA) on the Brink of Another Drop, Says Trader Who Called 2022 Crypto Market Collapse (TDH)
  • Jim Cramer:  Why The Crypto “Implosion” Won’t Stop Below $1T (Bitcoinist | UToday | Cointelegraph | TDH | Cryptoglobe | UToday)

NOTABLE VOICES

  • Lyn Alden: Can Bitcoin Support Eight Billion People? Macro Expert Lyn Alden Predicts How BTC Can Scale Globally (TDH)
  • Cesare Fracassi: Chief Economist of Coinbase Institute Explains ‘Recent Decline in Crypto Markets’ (Cryptoglobe)
  • Charlie Erith: ByteTree CEO says ‘Gold and Bitcoin Will Be Important Components of an Investment Portfolio for Years To Come’ (Cryptoglobe)
  • Charles Hoskinson: Cardano founder joins Vitalik Buterin in blasting Bitcoin developer for attacking PoS mechanism (Finbold | ZyCrypto)

ACCEPTANCE/ADOPTION

  • Turkey Embraces Bitcoin as Inflation Hits 24-Year High (BIC)

DEFI

  • DeFi Protocol Built on Ethereum Explodes 125% in Hours As Centralized Finance Firms Struggle (TDH)

ETFs/ETPs

  • Institutional Interest in Shorting Bitcoin Rises to Record Levels in US (Report) (CryptoPotato | NewsBTC)
  • Crypto ETPs Saw ‘Abysmal’ Returns in June (Blockworks)
  • With the bear market in full throttle, crypto derivatives retain their popularity (Cointelegraph)

BLOCKCHAINS

  • This Rare Cardano Smart Contract Usage Might Be Possible After Vasil HFC: Details (UToday)

MINING

  • Bitcoin mining stock report: Monday, July 5 (TB)
  • TeraWulf Adds $50M in Debt to Build Data Center Infrastructure (Coindesk)
  • One of America’s Largest Crypto Miners Sold 79% of Bitcoins on Its Balance Sheet in June (Cryptoglobe | TB | Coindesk)
  • Sales of Bitmain's new Ethereum ASIC miner to begin Wednesday (TB)
  • Coinbase Says Miners’ Sales of Newly Minted Bitcoins Don’t Add Significant Market Pressure (Coindesk)
  • Intel Ships Blockscale ASIC Chips To Selected Bitcoin Mining Companies (NewsBTC | Coindesk)
  • Nvidia Sees Crypto Mining Demand Cooling, Semiconductor Companies Slash Earnings Forecasts (BIC)
  • Head To Head: Bitcoin Miner Revenues Surpass Ethereum But There’s More (Bitcoinist | CryptoPotato)

EXCHANGES/WALLETS

  • Cardano: Ledger Releases New Update and Broadens Support for ADA (UToday)

CEFI CONTAGION

  • Celsius Beats Down Liquidation Price With $120 Million In Loan Repayments (NewsBTC)
  • Nexo Offers to Acquire Another Struggling Crypto Lender in Vauld (Blockworks | TB | Coindesk | CNBC)
  • Three Arrows Capital, On Brink Of Bankruptcy, Holds Several Blue Chip NFTs (Bitcoinist | BIC)
  • Q&A: Crypto Lawyers Talk 3AC Liquidation, ‘Code Is Law’ (Blockworks)

LEGISLATION/REGULATION

  • 'Bitcoin Senator' Lummis Says Her Crypto Bill Leaves Most SEC Oversight Intact (Decrypt)
  • US Commerce Dept. asks digital asset industry for input on competitiveness framework (Cointelegraph)

PODCASTS

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theinspired
theinspired

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.


Inspiration
Inspiration

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