"Are right and wrong convertible terms, dependent upon popular opinion?"
–William Lloyd Garrison
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Happy Saturday Folks! Last week we ended the month of September with the best performance for Bitcoin in 6 years, still Bitcoin was under $27K. As I type Bitcoin is trading at $27,969.60 and for the week (M-F) Bitcoin was up $323.40; week over week it's up $1004.46. The best performing asset in the past 7 days was $SOL - up 15.67% in position #7 on Coinmarketcap.com. Last week the Fear and Greed Index was at 47 and today it's 49; remaining in neutral.
Keep reading, watching, and listening with me each and every week!
MY HOT TAKE
Many will miss it but Bitcoin moved $1000 in a week and that's a big deal. September the 11th the low was $25,133.50 and it's been on an upward trajectory since; spiking up to nearly $29K on 02 Oct. On the weekly chart it's right at the SMA resistance and if it close above that for the next few week, I believe we could close out October north of $31K.
One of you left a comment about the brief being well "brief" and that's is because there is nothing fundamentally going on with Bitcoin or any of the top 10 digital assets that I cover; let me know what I missed I will add it in. My briefs come out early in the morning so the news cycle might not be that hot AND I continue to update the brief throughout the day; normally by the end of the day the brief is pretty beefy so keep checking back.
Right now unfortunately all of the drama news is around SBF and I refuse to curate news about it since well, you all will be slammed by it everywhere you turn. Podcast, YouTube influencers, on Social media - you can't escape someone talking about the bad guys. I did a X Spaces with David Gokhshtein from G-Media and we were talking about what really is "News" and most of what you read from the Crypto pubs isn't really factually news. It's a lot of maybes, mights, long rang predictions like Bitcoin is going to $10K (possibly not probable, it would have to be another FTX black swan event) and weird stuff like that because it's boring rn.
So I say, stay safe, stay humble, stacks sats, and HODL.
THE WEEDS
Monday the price of Bitcoin closed at $27,592.10 and the most covered news of the day was about the SBF interview that Michael Lewis talked about on 60 mins, his new book about SBF, and the start of SBF trial.
Podcast of the Day: The 3 Key Factors That Will Bring 1 Billion People To Crypto | Mo Shaikh, Aptos Labs | TWOAS
Tuesday the price of Bitcoin closed at $27,428.80 and the most covered news of the day was no news to be honest. The day started off incredibly slow but one topic did gain some steam and that was Mike McGlone saying Bitcoin could perhaps go as low as $10K.
Podcast of the Day: Bitcoin Pops As Uptober Returns | The Breakdown
By Wednesday (Humpday) the price of Bitcoin closed at $27,663.40 and the most covered news of the day was concerning CBDCs with the central banks of Korea and France both indicating the launch of Wholesale CBDCs; these are CBDCs that are using only between banks not with retail.
Podcast of the Day: BTC150: Solving the Oracle Problem w/ Daniel Hinton & Steve Jeffress | Bitcoin Fundamentals
Right over the hump on Thursday the price of Bitcoin closed at $27,568.50 and the most covered news of the day was again sparse but the key article talked about how Bitcoin is out performing the dollar and is up 3.6B% since it was first priced above zero.
Podcast of the Day: A Leading Candidate for Next Speaker of the House is One of Crypto's Biggest Allies in D.C. | The Breakdown
As the week came to a close on Friday the price of Bitcoin closed at $27,915.50 and the most covered news of the day was about the performance of the ETH ETF Futures product and JPMorgan saying that it's become more centralized since the Shanghai upgrade.
Podcast of the Day: Reboot - Bitcoin & Software Reliability | Bitcoin Audible
WEEKEND NEWS
Bitcoin maintains support level above $27,000 as long-term holders step in. Jefferies says Bitcoin is a ‘critical hedge’ against inflation, belongs in same bag as gold and Bitcoin is 2023’s best-performing asset among 40 wealth classes. Glassnode co-founders Jan Happel and Yann Allemann, who share the handle Negentropic on the social media platform X, say that the king crypto appears ready to greatly outperform gold on a rally toward $120,000.
Solana (SOL) Sets Itself up for Golden Cross.
CFTC weighs enforcement action against former Voyager Digital CEO: Report.
SOURCES
Bitcoin
- Price (TB)
- Sentiment (Finbold | Finbold)
- Opinion (TDH)
Altcoins
- SOL (UToday)
Legal Cases
- Voyager (Cointelegraph | TB)
