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Happy Friday Folks! These weeks are flying by and Bitcoin is attempting to try to break out of this bear market, but it isn't convincing many since we were in extreme fear. Last last evening, Bitcoin begin rallying and looking at the chart, it appears it can pull back to around $20.8K to retest the breakout and if it does resume, we could see $23K before we see it go below $20K again. The question of if the bottom is in has taken over the conversation and there isn't a clear answer. So, remain patient and DCA through this bear market and you will rejoice once it's back to all-time highs.

The CEFI Carnage is crushing companies like Celsius and Voyager. Both are being broiled from two different angles - Lawsuits and the FDIC probe, respectively. With Bitcoin remaining at low levels it is giving the miners hell and I would not want to be them. That said - there could be a big opportunity for those who desire to jump into the mining game. 

JUST IN

• Justin Sun says he's ready to spend $5 billion on acquisitions as crypto firms struggle (TB)
• Point72 Asset Management in ‘Early Innings’ of ‘Big Crypto Push’ (Blockworks)

CEFI CONTAGION

Celsius

• Celsius accused of fraud in lawsuit by former money manager KeyFi (TB | Bitcoinist | Decrypt | Cointelegraph | Blockworks | Finbold | EWN | CNBC | BIC | Coindesk)
  
• Tether says it liquidated Celsius loan without incurring any loss (TB | EWN | Blockworks | Cointelegraph | TDH)
• Celsius Farmed Out Funds to DeFi Degen (Blockworks | CryptoPotato)
• Celsius moved $529M worth of wBTC to FTX exchange: Should we be worried? (Cointelegraph | Coindesk)
• US state regulators are increasing scrutiny into Celsius and Voyager: Bloomberg (TB | BIC)

Voyager

• Q&A: Restructuring Expert Talks Voyager Bankruptcy (Blockworks)
• Voyager’s 2nd-largest debtor ready to return loan with no rush to recover collateral (Finbold)

Blockchain.com

• Crypto Exchange Blockchain.com Faces $270M Hit on Loans to Three Arrows Capital (Coindesk)

BITCOIN & ETHEREUM

Positive

• Bitcoin Reclaims $22,000 Price Level After Whales Rushed To Buy The Dip (ZyCrypto)
• First Mover Americas: Bitcoin’s Bear Cross Is Bullish and a Big June Jobs Beat (Coindesk)
• Bitcoin Is Getting Ready for 20% Rally: Crypto Market Review, July 8 (UToday)
• Bitcoin ‘Fear & Greed’ index recovers to 2-month high after market sell-off (Finbold | Coindesk)
• Bitcoin Reclaims $20K, Crypto Market Eyes $1 Trillion, Ethereum 2.0 Merge a Step Closer: This Week’s Recap (CryptoPotato)
• Coinbase Pro Buyers Trigger Spike in Bitcoin Premium (CryptoPotato)
• This 'biblical' Bitcoin pattern suggests BTC price can rise 30% by October (Cointelegraph)
• Bitcoin on track for biggest weekly gain in 9 months (Finbold)
• Bitcoin price builds best weekly candle since March despite new DXY peak (Cointelegraph)
• What bear market? Consumer confidence higher among crypto owners than normies (Cointelegraph)
• $1,200 ETH Is in High Demand According to This Data (UToday)
• TA: Ethereum Rallies 8%, Why ETH Could Surge Above $1,300 (NewsBTC)

Neutral

• Bitcoin Must Meet These Conditions If It Wants To Stay Above $20K (NewsBTC)
• 5 events that could put an end to the current crypto bear market (Cointelegraph)
• Here's Your On-Chain Checklist for Cryptocurrency Market Reversal (UToday)
• Mt. Gox close to repaying its creditors; Why it’s not good for Bitcoin? (Finbold | BIC)
• Mind games: Bitcoin education at an escape room in Lebanon (Cointelegraph)

Negative

• Bitcoin price surges to $21.8K, but analysts warn that the move could be a fakeout (Cointelegraph)
• Bitcoin Drills Into $22,000 Level – But Not All BTC Investors Are Jubilating (NewsBTC)

ALTCOINS

• What is BNB auto-burn and how does it work? (Cointelegraph)
• XRP Leads Recovery Among Major Cryptocurrencies; Fed Policymakers Back 75 Basis Point Hike (Coindesk)
• Cardano must rise above $4 to match Ethereum’s market cap (Finbold)
• Cardano whale addresses ‘cease dumping’; What does it mean for ADA price? (Finbold | CryptoPotato)
• Solana Glints With 14% 3-Day Rally – Will SOL Keep On Beaming? (NewsBTC)
• Dogecoin: Tesla CEO Elon Musk Wants To Keep Supporting $DOGE ‘Wherever Possible’ (Cryptoglobe)

STABLECOIN

• How Tether’s Shrinking Market Share Could be Good for Crypto: Opinion (CryptoPotato)
• EU-regulated firm Banking Circle adopts USDC stablecoin (Cointelegraph)
  

ANALYST'S CORNER

Positive

• Jurrien Timmer: Fidelity Investments’ Director of Global Macro Explains Why “Bitcoin Is Cheap”, Says Ethereum “Could Be Close to a Bottom” (Cryptoglobe | TDH)
• Credible Crypto: Top Trader Says Massive Unexpected Bitcoin (BTC) Rally To Take Place This Year – Here’s His Target (TDH)
• PlanB: Top Bitcoin Analyst Says These Metrics Indicate BTC May Be Near Its Bear Market Bottom (TDH)
• Kaleo: Bitcoin (BTC) Set To Explode by Over 400% and Hit Six Figures, According to Crypto Trader by 2024 (TDH)
• Bitcoin (BTC) Finally Breaks out From Short-Term Pattern (BIC)
• Mike McGlone: Bitcoin ($BTC) Could Be ‘One of the Greatest Bull Markets in History,’ Says Bloomberg Analyst (Cryptoglobe | TDH)
• Michael van de Poppe: Top Crypto Trader Reveals Outlook for XRP, Polygon (MATIC), Cardano (ADA), and Ethereum Challenger Fantom (FTM) (TDH)
• CoinMarketCap: Crypto community bets XRP to reach $1.95 by July 31, 2022 (Finbold)

Negative

• Capo: Analyst Who Called Bitcoin Collapse Issues XRP Warning, Reveals Target for One More Altcoin (TDH | Cryptoglobe | TDH)

NOTABLE VOICES

• SBF: There’s Little Reason to Think Crypto Hasn’t Bottomed: SBF (CryptoPotato | TDH)
• Charles Hoskinson: Cardano CEO slams ‘Twitter trolls’ for slandering network’s smart contracts (Finbold)
• Michael Saylor: Is Cardano (ADA) a Security? Bitcoin (BTC) Billionaire Michael Saylor Analyzes Eighth-Largest Crypto Asset by Market Cap (TDH)

PARTNERSHIPS

• onXRP Partners up with Banxa, XRP Can Now Be Purchased via Bank Card & ApplePay (UToday)
  

ETFs

• Crypto Futures Observes $280m Flush As Bitcoin Breaks $22k (Bitcoinist)
• FTX Seeks CFTC Approval on Derivatives Proposal (Blockworks)
• Grayscale Removes BCH, LTC and LINK from Large-Cap Fund; Cardano Retains Weighting (UToday)
• Unpacking the Latest Bitcoin ETF Rejections (Coindesk)

BLOCKCHAINS

• Bitcoin Core Developer Pieter Wuille Scales Back His Maintenance Role (Coindesk)
• Bitcoin ($BTC): Lightning Network’s Average Daily Capacity Hits All-Time High in June (Cryptoglobe)
• IOG’s Main Technical Architect for Cardano Shares His Thoughts on Vasil Upgrade (Cryptoglobe)

HOW SILENT PAYMENTS ARE BRINGING NEW PRIVACY PROTECTIONS TO BITCOIN

EXCHANGES

• These Coinbase Transfers Could Be Bullish For Ethereum (UToday)

MINING

• US asks Japan to help cut crypto miners’ links with Russia: FT (TB)
• Global GPU price drops to compensate for falling Bitcoin mining revenue (Cointelegraph)
• Bitcoin mining stock report: Friday, July 8 (TB)
• Crypto Mining Stocks Bounce Amid Bitcoin Recovery (Coindesk)
• Marathon Q2 Bitcoin production down 44% as fleet remains crippled (Cointelegraph | TB | Bitcoinist)
• Bitcoin Miner Marathon Digital HODLs Through the Bear Market (BIC)
• Compass Mining Searches for Direction After Top Execs Resign (Blockworks)

LEGISLATION/REGULATION

• US Treasury Releases ‘Framework’ for International Cooperation on Crypto Regulation (BIC)
• US Fed Vice Chairwoman Brainard Doesn’t Like What She’s Seeing in Crypto (Coindesk | TB | Cointelegraph | Cryptoglobe | CryptoPotato)
• Know thy customer: The future of KYC in crypto (Cointelegraph)

PODCASTS

• The Pomp Podcast: #1036 Darius Dale On Why The Fed Will Tighten Until Something Breaks
• The Breakdown: Should the People Making Crypto Policy Own No Crypto?
• Stephan Livera Podcast: SLP391 Ben Carman - Bitcoin Privacy, Surveillance & LN Vortex
• Untold Stories: Decentralization Maximalism with Pod of Jake