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$BTC Weekly Timing Where Low "Could" Be In FIBOSWANNY

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Welcome to Thursday Folks! Yesterday Michael Saylor rocked the Crypto world by saying that all other assets beside Bitcoin should be shut down; Altcoin Daily covers it as well in the Video of the Day. This is one of the reasons focusing primarily on Bitcoin before anything is key. 

As far as the price it's stuck and boring so nothing to really report there. If it can close above $19.5K for a few weeks, it could possibly rally to nearly $25K before pulling back down once again. 

Most covered news today is Binance being overcollateralized, Celsius is being ordered by the Bankruptcy judge to return $44M of it's customers funds it moved into the earn side right before filing for Bankruptcy, and NYC is probing SBF because it believes he might be responsible for the Terra Luna collapse as well. 

As it pertains to Binance, I did a show on Bitcoin is Freedom talking about the exchanges and NYKNYCs, this is a good case in point - you can't loop every exchange in with FTX.

WATCH

LISTEN

Podcast of the Day: Breaking Down The Crypto Bear Market | Lucas Outumuro, IntoTheBlock | The Wolf of All Streets

SOURCES

CRYPTO MARKET

• Just 8% of Americans have a positive view of crypto: CNBC survey (Cointelegraph)
• Economists Predict Recession. Should Crypto Holders Worry? (Blockworks)
• Canada’s Largest Pension Fund No Longer Mulling Crypto Investment: Reuters (Coindesk)
• Cryptocurrency market is 'most mature' in these 2 countries, new Huobi report reveals (Cointelegraph)
• Countries and institutions move into crypto despite market drop: Report (Cointelegraph)
• Binance CEO, Coinbase exec feature in Masterclass crypto crash-course (Cointelegraph | Decrypt)
• When to Expect New Crypto Regulations? (Richard Black)
• US lawmakers question federal regulators on banks' ties to crypto firms (Cointelegraph)

BTC

     Price

• Bitcoin Stagnates Below $17K as Extreme Fear Returns to Crypto (Market Watch) (CryptoPotato)
• Bitcoin’s High Correlation to Copper Does Not Bode Well for Short-Term Investors (Coindesk)
• Bitcoin takes liquidity near $17K as US dollar shows weakness pre-CPI (Cointelegraph)
• Brace for Bitcoin’s volatility: Key events to watch next week (Finbold)
• Bitcoin Whales Dump 20,000 BTC On The Market, Sell Side Strengthens (NewsBTC)

     Indicators

• Wyckoff Accumulation Suggests Bitcoin (BTC) Price Has Already Bottomed Out (BIC)

     Voices

• Bitcoin is a ‘top contender’ to outperform gold in the long run, says commodity guru (Finbold)
• Binance's Bitcoin Reserves Are Overcollateralized, New Report Says (Coindesk | BIC | TDH | EWN | Cointelegraph)
• US Senator Lummis: Seems ‘Bitcoin Is the Only Thing That Would Qualify as a Commodity’ (Cryptoglobe | Coindesk)
• Bloomberg Strategist Mike McGlone Expects Crypto Market to Come Out ‘Ahead’ in 2023 (Cryptoglobe | UToday)

     Mining

• Bitcoin miner Marathon explores Compute North bid: Bloomberg (TB)
• Bitcoin miner Marathon won't bid on bankrupt Compute North's assets, CEO says (TB)

     GBTC

• GBTC 'elevator to hell' sees Bitcoin spot price approach 100% premium (Cointelegraph)
• Grayscale's GBTC discount to NAV hits all-time low of 47% (TB | Cointelegraph | Coindesk)

ETH

• Ethereum Price Nears Breakdown Support, Can Bulls Save The Day? (NewsBTC)
• Ethereum Sharks and Whales Add Nearly $700 Million in $ETH in Two Days (Cryptoglobe)
• By The Numbers: How Much Energy Did The Ethereum PoS Merge Save? (Bitcoinist)
• Bloomberg Analyst Says Ethereum (ETH) and Rest of Crypto Markets To Rise Again in 2023 (TDH | ZyCrypto)
• Paradigm releases 'Ethereum for Rust' to help ensure network stability (Cointelegraph)
• Ethereum developers target March 2023 for Shanghai hard fork (TB | Coindesk | Bitcoinist | Blockworks | BIC | Cointelegraph | UToday | Cryptoglobe)
• Bullish? Staked Ethereum is set to be released in March 2023 (Finbold | Decrypt)

XRP

• Ripple Moves Dozens of Millions of XRP – Is Company Selling? (UToday)
• Is The XRP Lawsuit Ending Soon? Top Ripple Lawyer Weighs In (Bitcoinist)
• Ripple Execs Facing Multi-Million Fines From SEC? Lawyers Weigh In (Bitcoinist)
• Were Ripple Executives Reckless? Crypto Lawyer Stirs up Striking Facts in Lawsuit (UToday)
• XRP Will Become Available for Purchases by Fiat in UK and France: Details (UToday)

DOGE

• Dogecoin Futures Market Suggests Trouble for Long-Term DOGE Holders (BIC)

ADA

• Cardano ($ADA) Daily Active Users Jumped Over 15% Ast Month: CryptoCompare Report (Cryptoglobe)
• Cardano ($ADA) Network’s Smart Contracts Surge Past 4,000 After September Update (Cryptoglobe)
• Charles Hoskinson: Anti-Crypto Stance in India Prevents Cardano Market Entry (BIC)
• Cardano (ADA) and Other Cryptocurrencies Now Available on BitMEX Exchange (UToday)
• Cardano Yield Products Go Live on Mainnet, Here's How to Use Them (UToday)
• Charles Hoskinson reveals ‘confidential smart contracts’ are coming to Cardano (Finbold)
• Cardano (ADA) On-Chain Activity Spikes: High Volatility Ahead (BIC)
• 2023 Predictions For Cardano Are Extremely Bullish; Here’s Why (ZyCrypto)

MATIC

• Polygon (MATIC) Price Free Fall Is Not Over Yet (BIC)

LEGAL BATTLES

• Celsius must return $44 million in crypto to users, judge orders: Bloomberg (TB | Cointelegraph | Coindesk | BIC | Blockworks | Finbold)
• BlockFi employees were discouraged from describing risks in internal communications: Report (Cointelegraph)

Other Podcast

• The White-Collar Recession | The Breakdown
• Dec 8: SEC is Asserting Authority While Avoiding Accountability | Decrypt Daily
• SLP439 Federico Tenga - What is RGB for Bitcoin? & Iris wallet | Stephan Livera
• Light Sats: "Making it Easier For You To Orange Pill The World, One Tip At A Time" with Juan and Home Bitcoin Mining Tips with The Café Bitcoin Crew - December 8th, 2022 | Cafe Bitcoin

FTX FIASCO

• FTX hires forensics team to find customers’ missing billions: Report (Cointelegraph)
• Senate Banking Committee calls on Bankman-Fried to testify on Dec. 14 (TB | Coindesk | TB)
• Congresswoman Maxine Waters Urges Sam Bankman-Fried To Attend Congressional Hearing Next Week (TDH | ZyCrypto)
• House Financial Services Chief Waters Not Planning to Subpoena Sam Bankman-Fried: Report (Coindesk)
• Feds have contacted former FTX employees as part of investigation (TB)
• Pro-Crypto Lawmaker Blames Gary Gensler for FTX Collapse (BIC)
• NYC Prosecutors Probing Sam Bankman-Fried's Role in TerraUSD Collapse: Report (Decrypt | TB | Cointelegraph | Bitcoinist)
• Gensler Says SEC Is Fine Going After Crypto With Its Current Authority (Coindesk)
• Watchdog group wants FEC investigation into Bankman-Fried donations (TB)
• Binance CEO Changpeng Zhao Addresses ‘Narrative’ He Says FTX Founder Sam Bankman-Fried Painted Against Him (TDH | TDH)

• SBF Has One More Thing To Worry About: A US Attorney Inquiry (Blockworks)