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It's Saturday Folks! I'd love to know if these weekend recaps are useful for you. First week in 2023 and Bitcoin has basically remained a Stablecoin. Let's recap the week, shall we?
Monday the price of Bitcoin closed at $16,688.47 and the sentiment fairly flat as price continued to consolidate. The most covered news of the day was about Cameron Winklevoss penning an open letter to Barry Silbert about Gemini’s blocked funds; Jan 8 Deadline for Barry Silbert to help Gemini solve the problem of frozen funds in their earn program.(7)
Podcast of the Day: 151 - Why Are We Here? with Erik Voorhees | Bankless
Tuesday the price of Bitcoin closed at $16,679.86 and the sentiment turned slightly positive as the price inched up a bit. The most covered news of the day was Bitcoin celebrating its 14th birthday and community celebrated Bitcoin Genesis Day by sending BTC to the Genesis block.(8)
Podcast of the Day: Could the Crypto Markets Revive in 2023? Two Researchers Discuss | Unchained
By Wednesday (Humpday) the price of Bitcoin closed at $16,863.24 and the sentiment shifted bearish as Bitcoin open interest RSI formed bearish divergence. The most covered news of the day was Coinbase’s $100M settlement with NY regulator pumping its stock 7%.(10)
Podcast of the day: BTC111: Nostr - Decentralized Social Media & Bitcoin w/ William Casarin (Bitcoin Podcast) | Bitcoin Fundamentals
Right over the hump on Thursday the price of Bitcoin closed at $16,836.74 and the sentiment was mixed as Bitcoin lost steam but some believed a bit move was brewing. MVRV ratio fell to three-year low indicating a bottom. The most covered news of the day was the SEC saying not so fast to Binance US acquisition of Voyager Digital and Alameda agrees.(7)
Podcast of the Day: Will Institutions Finally Adopt Crypto In 2023? | Robert Alcorn, Clearpool | The Wolf of All Streets
As the week came to a close on Friday the price of Bitcoin closed at $16,925.29 and the sentiment was leaning positive as the nonfarm payrolls boosted the price a bit helping to maintain $16.8K as support. The most covered news of the day was Crypto exchange Huobi says it will cut staff by 20%; trading volume tanks as future is in doubt as outflows pile up. Justin Sun transfers $100MM(11)
Podcast of the Day: Gemini vs. DCG Is Heating Up. Could Gemini Force Genesis Into Bankruptcy? | Unchained
Bottom line: Bitcoin gained $237.12 for the week. Nothing fundamentally still hasn't changed about Bitcoin's code, the network, or anything of substance. However, with the positive news about jobs, the Fed might slow down on its interest rate hikes and we could be witnessing the beginning of a turn around. In addition, Coinbase clearning up it's issues with the SEC is also a positive for the market. But don't get too excited because we still have a few storm clouds overhead: Genesis potential bankruptcy, Huobi possibly going under, Nexo possibly in trouble, not clear sign on the CeFi platforms (BlockFi, Celsius, or Voyager), FTX debacle is still lingering, USDT is still a blurry spot, etc. The name of the game for me is accumulation, continue to stacksats and HODL. Thanks again for reading, watching, and listening with me.
Well that is a wrap folks, if you'd like to be in the know throughout the day, join me on Wubits where I am constantly sharing my thoughts about the Crypto market and personal development type topics. It's a community where you can meet REAL people, make REAL connections, and have REAL conversations.
WEEKEND NEWS
- ‘Crypto Is Effectively Non-Existent for Most Large Institutional Investors’, Says J.P. Morgan Exec Jared Cross
- $3.8B of Cumulative Volume Moved Overseas Since Indian Crypto Taxes Kicked In
- Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits into Stablecoins: Santiment
- Bitcoin price nears 3-week high as trader says sub-7% CPI may see $19K
- Bitcoin futures activity fell off cliff in December
- Bitcoin Holders To Expect More Difficulties As Data Point To Looming BTC Price Drop
- Ethereum Whale Activity Surges as $ETH Is Expected to Outperform in 2023
- Ethereum’s Shanghai upgrade devs agree on major change and could supercharge liquid staking derivatives(2)
- Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research
- XRP Likely To Be Only Clarity for Next 2 Years, CryptoLaw Founder John Deaton Predicts
- Crowd Is Bullish on XRP Despite SEC Saga
- Dogecoin (DOGE) Becomes 4th Most Popular Crypto on BitPay
- Cardano: Whale Addresses Holding 1 Million to 100 Million $ADA Could Signal Potential Breakout
- Polygon (MATIC) Partners With Mastercard, Announces Web3 Incubator (6)
- Solana Beats Competitors In Market Cap – Will SOL Shine Brighter This Week?
- Crypto Conglomerate DCG Being Investigated by DOJ, SEC(5)
- Fir Tree Sued Grayscale. Now, GBTC’s Overseer Is Retaliating
- Hedge funds subpoenaed by U.S. prosecutors as Binance probe unfolds(4)
- Were You Rekt by FTX? This Website Connects You to Law Enforcement(2)
- Sam Bankman-Fried Spars With FTX Debtors Over Seized Robinhood Shares Valued at Over $460,000,000(2)
- Sam Bankman-Fried's charitable donations sought by FTX: Report(2)
- FTX asset sales challenged by U.S. Trustee: Report
- Wyre Customers Can Only Withdraw 90% of Their Balance
