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- James Oppenheim
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Welcome to Thursday Folks! It's just a matter of time before another nation announces it's adopted Bitcoin as Legal Tender. Bitcoin makes fifth attempt to tap on the ceiling of $20.8K and if it can break through $21.6K is next, above $21.8K and I might be willing to thinking about saying the bottom is in but that's what a key chart is already saying. Ethereum looks ready for another leg higher over $1,200 and is outperforming Bitcoin in the past 7 days; up 16% second only to $SOL up 17%.
The fallout from the CEFI contagion continues as it now appears SBF who is saying he has Billions to backstop the industry owes Voyager $376MM; something doesn't smell right. For those who will lose money with Voyager, ensure you are talking with your tax professionals so you can have some benefit from the loss. Ensure you read, watch, and listen to the content below because that will help you see what's going on.
BREAKING
- Filip Karadjordjevic: Serbian Prince says any Arab country could adopt Bitcoin ‘sooner than we think’ (Finbold | UTB | EWN)
142,000 BITCOIN COULD BE DUMPED AS CREDITORS EYE MT. GOX REPAYMENT
CEFI CONTAGION
- Celsius Network fully pays off Bitcoin loan as user funds remain locked (Finbold | EWN | CryptoPotato)
- Voyager Customers Unlikely to Get All Their Crypto Holdings Back (BIC)
- FDIC Probing Voyager Claims It Was Insured by Regulator (Coindesk | Cointelegraph | Blockworks)
- Genesis Reveals Exposure to Bankrupt Three Arrows Capital (Blockworks | Cointelegraph | EWN | Coindesk)
- Crypto Lenders in Turmoil as Markets Reel From ‘Unsafe’ Risk Management (Blockworks)
- SBF's Alameda Owing Bankrupt Crypto Broker $376 Million Is Interesting Twist, According to Binance's CZ (UToday)
- TPS Capital Says It's 'Independent' From Three Arrows Capital (Coindesk)
BITCOIN & ETHEREUM
Positive
- Survey shows 55% of crypto investors chose to HODL as Bitcoin and altcoin prices collapsed (Cointelegraph)
- Bitcoin (BTC) Cycles: Circular Analysis Suggests Bottom is Near (BIC)
- Massive Bitcoin Outflows Rock Crypto Exchanges, Spelling Ultra-Bullish Sentiments For BTC (ZyCrypto | Cryptoglobe)
- Bitcoin Might Spike by 10% as Ethereum Already Flirting with $1,200 (UToday)
- Bitcoin Maintains $20K, Ethereum Soared to 9-Day High (Market Watch) (CryptoPotato)
- TA: Ethereum Looks Ready For Another Leg Higher Over $1,200 (NewsBTC)
- Bitcoin price clings to $20K as Bollinger bands close in for volatility (Cointelegraph)
- Bitcoin (BTC) on-Chain Analysis: Number of New BTC Addresses Reaches New All-Time High (BIC)
- Key Bitcoin chart ‘will confirm bottom is in’ by July 15, says trader (Cointelegraph)
Neutral
- Bitcoin Trading Volume Again Slows Down To A Crawl (Bitcoinist)
- Bitcoin price holds $20K, but analysts say ‘expect 6 months of sideways’ price action (Cointelegraph)
- Bitcoin Funding Rates Are Climbing As Price Continues To Struggle (NewsBTC)
- Bitcoin (BTC) Makes Fifth Attempt at Breaking out From Short-Term Pattern (BIC)
- Satoshi milkshake experiment shows kids can HODL Bitcoin too (Cointelegraph)
Negative
- Bitcoin traders expect a ‘generational bottom,’ but BTC derivatives data disagrees (Cointelegraph)
- Bitcoin faces Mt. Gox 'black swan' as trustee prepares to unlock 150K BTC (Cointelegraph | CryptoPotato)
- Gold would have been a 40% better investment than Bitcoin in 2022 (Finbold)
- Ethereum’s exchange inflows reach 11-month high; How can it affect ETH price? (Finbold)
ALTCOINS
- Over $1 Billion Inflows DOGE Market Cap As Elon Musk’s ‘Boring Company’ Accepts Dogecoin For Rides (ZyCrypto)
STABLECOINS
- Circle Allows ‘Free’ Early USDC Withdrawal From Fixed Yield Treasury Product (BIC)
ANALYST'S CORNER
Positive
- InvestAnswers: Under-the-Radar Metric Flashing Green for First Time in Years Could Bode Well for Bitcoin (TDH)
- Justin Bennett: Top Crypto Analyst Reports High Bullish Sentiment, Names the Next Move for Bitcoin (BTC) (TDH)
- Tim Draper: Venture Capitalist Tim Draper Reiterates Conviction For $250,000 Bitcoin Price (ZyCrypto)
- Ki Young Ju: Bitcoin Is Safe According to On-Chain Data, Says CryptoQuant Analyst (UToday)
- Altcoin Sherpa: Here’s What’s Next for Bitcoin, Chainlink and Solana According to Top Trader (TDH)
Neutral
- Michael van de Poppe: Professional trader identifies key levels ($20.2K) to watch if Bitcoin holds above $20k (Finbold | TDH)
- Michael van de Poppe: $ADA: Crypto Analyst Identifies Key Cardano Price Level to Watch (Cryptoglobe)
- Cesare Fracassi: Coinbase Economist Reveals One Major Factor That Will Drive Crypto Prices in Future (TDH)
Negative
NOTABLE VOICES
Positive
- Nayib Bukele: reminds Peter Schiff why banks can’t trump BTC (Cointelegraph | UToday)
- R. P. Stoeferle: Bitcoin has ‘stolen the show’ from gold (Finbold)
- Sam Bankman-Fried: FTX Has a ‘Few Billion’ for Additional Bailouts (CryptoPotato)
- Charles Hoskinson: Cardano Creator Refutes "FUD" About Smart Contracts (UToday)
Neutral
-
CZ: Binance CEO on Crypto Bailouts and the Deals He Would Not Do (Decrypt)
Negative
- Lee Reiners: Former Fed Regulator Calls For Full Ban On Bitcoin – Says Crypto Has No Real Value (ZyCrypto)
PEOPLE ON THE MOVE
- Binance.US hires former PayPal exec as CFO ahead of IPO 'in the coming years' (TB | Coindesk)
- Three Execs Leave JPMorgan This Week to Join Crypto Firms (Coindesk)
CEFI/DEFI
- Ethereum 2.0 stakers face a 36.5% larger loss than ETH spot investors — report (Cointelegraph | Decrypt)
ETFs
- WSJ editorial slams SEC’s ‘bewildering’ Bitcoin ETF denials (Cointelegraph)
- Inverse Bitcoin ETF Sees 300% Increase In Short Interest (Bitcoinist)
- SEC Still Against Spot-based Bitcoin ETFs. Is There A Light At The End Of The Tunnel? (NewsBTC)
BLOCKCHAINS
- Cardano ($ADA) Sees 13,000 GitHub Commits in June as Development Activity Grows Ahead of Vasil Hard Fork (Cryptoglobe | TDH)
- Solana (SOL) Emerging As Viable Threat to Ethereum in NFT Markets: DappRadar Report (TDH)
- Solana Ecosystem Sued for Securities Violations and ‘Illegal Profiting’ (BIC | Blockworks | Coindesk | UToday | Cointelegraph | UToday | Bitcoinist | TDH)
EXCHANGES
- Latin American Exchange Bitso Brings Crypto Remittance Service to Colombia (Coindesk)
MINING
- Riot Blockchain Saw a 73% YoY Increase of BTC Production in June (CryptoPotato)
- The Infamous Cyclicality Of Bitcoin Mining: What Causes This? (Bitcoinist)
- Bitcoin mining stock report: Thursday, July 7 (TB)
- Compass Mining cuts staff by 15%, reduces salaries for senior employees (TB | Cointelegraph | CryptoPotato)
- Bitcoin miners sell their hodlings, and ASIC prices keep dropping — What’s next for the industry? (Cointelegraph)
- Texas cryptocurrency miner to use power from batteries to support grid stability (Cryptoslate)
- Bitcoin mining difficulty falls by 1.41% (TB)
- Argo Blockchain Hires Derivatives Trader to Navigate Market Rout, Sells BTC to Reduce Loan (Coindesk | CryptoPotato | TB | Cointelegraph)
- Hive Blockchain reports 278.5 BTC mined in June (TB)
LEGISLATION/REGULATION
- US Regulators Release First of Many Reports on Crypto Following Exec Order (Blockworks | Cointelegraph | Coindesk | TB)
- Regulators Turn Up the Volume on Crypto Messaging (Blockworks)
- Crypto owners banned from working on US Government crypto policies (Cointelegraph | BIC | Coindesk | TB)
PODCASTS
- The Wolf Of All Streets: Bitcoin & Ethereum Will Never Die | 99% Of Tokens Will | Jeff Garzik, Co-Founder Of Bloq
- The Pomp Podcast: #1034 Kevin O’Leary On Why Crypto Regulation Is Coming Fast
- Decrypt Daily: July 7: From Bad to Worse: Voyager Stock Trading Suspended
- Bitcoin Audible: Read_634 - The Words we Use in Bitcoin [DerGigi]
- Untold Stories: Decentralization Maximalism with Pod of Jake
- The Breakdown: The Dollar Wrecking Ball
- On The Brink: Weekly Roundup 07/01/22 (GBTC ETF denied, Bitcoin rationalism, CoinFLEX)
