13 Sep: Will CPI Data Spike or Crash Crypto?

13 Sep: Will CPI Data Spike or Crash Crypto?

By theinspired | Inspiration | 13 Sep 2022


"Doubt is a killer. You just have to know who you are and what you stand for."
- Jennifer Lopez

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Happy Tuesday Folks! The market is waiting for the CPI data and by the time you read this, it should have been announced. Right now Bitcoin is trading at $22,619.00 with overhead resistance around $24K; if that gets broached I believe $30K will come fairly quick. Debate about the bottom being in continues as the monthly MACD could signal it as well as other data suggesting it; Raoul Pal believes the bottom is in.

It appears the haters are getting nervous as Clem Chambers is talking about a possible $10K BTC, Hans-Joachim Voth Zurich University’s professor says Bitcoin ‘doesn’t solve a single problem,’ and yesterday Eugene Fama (Nobel Laureate) says Bitcoin is not a store of value; warns BTC will blow up at some point.

The Merge is of course the biggest things being covered today with the Ethereum fork EthereumPoW post-merge launch plans being released. Ripples Co-Founder Jed McCaleb is joining Elon Musk in envisioning and working to make it possible for humans to become interplanetary species. Meanwhile Hodlnaut is fighting in court against Faketoshi and beware of impersonators of Vitalik Buterin and Elon Musk - the scammers are coming for your Crypto.

POD: Unchained: How Traders Are Thinking About the Merge -- and a Potential ETHPoW Chain - Ep. 395

Trending

CRYPTO MARKET

  • Crypto Impacted by Fed More Than Stocks: Macroeconomist Explains (BIC)
  • Crypto’s correlation with mainstream finance could bring more bleeding soon (Cointelegraph)
  • Investor Sentiment Sees Sharp Positive Spike Following Crypto market Recovery (NewsBTC)
  • Crypto Yields Are Starting to Pay Less Than Government Bonds (CryptoPotato)
  • Crypto Sell-off Deepens After Hot Inflation Report (BIC)
  • DOGE, ADA, BTC Plunge as Nomura Predicts 100-Basis-Point Rate Hike (UToday)

BITCOIN & ETHEREUM

Positive

  • Bitcoin battles whales above $22K as BTC price faces US CPI data (Cointelegraph)
  • Bitcoin (BTC) Monthly MACD Could Soon Give Bullish Signal That Preceded Previous Uptrends (BIC)

Neutral

  • Bitcoin tops the crypto trending list amid rumors of halving acceleration (Finbold)

Negative

  • Bitcoin Has Not Bottomed Out, Data Suggests; Ether and Other Altcoins Fall in Monday Trading (Coindesk)
  • Bitcoin Loses 6%, Equities Fall as Inflation Exceeds Estimates (Blockworks | TDH)
  • Bitcoin price falls under $21K as traders send 84K BTC to exchanges (Cointelegraph | TB)
  • Bitcoin Long-Term Holders Have Been Selling At A Loss For 4 Months Now (Bitcoinist)
  • Bitcoin margin long-to-short ratio at Bitfinex reach the highest level ever (Cointelegraph)

ALTCOINS

  • Cardano Foundation Celebrates First Anniversary of the Alonzo Hard Fork (Cryptoglobe)
  • Here's Why Cardano Is Undervalued by Crypto Market (UToday)
  • Institutional Investor Bets on Cardano ($ADA) Quadruple as Bitcoin Shorts Grow (Cryptoglobe)
  • Solana Jumps 7% as Crypto 'Hotspot' Project Helium Eyes Merge (Decrypt)
  • Solana Tops 1 Million Weekly Transactions (CryptoPotato)
  • 3 reasons SOL price is up 30% in 2 weeks — Will Solana's uptrend continue? (Cointelegraph)
  • Solana ($SOL) Protocol TVL Dominance Rises Nearly 50% as Developer Activity Grows: Report (Cryptoglobe)
  • Maker Raises Staked Ethereum Limit to Reduce Reliance on USDC (Decrypt)

THE MERGE

  • Traders Shorting Ethereum Ahead of The Merge, ETH Funding Rates Negative (EWN)
  • ETH circulation compared to market cap shows most bullish divergence since May 2021 (Finbold)
  • Merge ‘jitters’ sees outflow from Ether-based investment products (Cointelegraph)
  • Merge Price Swings Could Trigger Liquidations, Hodlnaut Warns (BIC)
  • Ethereum Staking Centralization Concerns Arise, Majority Controlled by Top Pools (BICUToday)
  • Ethereum Merge Could Open The Network To Attacks From Bad Actors, Says Security Experts (ZyCrypto)
  • This week’s Ethereum Merge could be the most significant shift in crypto’s history (Cointelegraph)
  • The Merge Is Nearly Here: What to Expect From Ethereum’s Transition to Proof of Stake (PoS) (BIC)
  • Coinbase Breaks Down the Risks Surrounding the Merge (CryptoPotato | TDH)
  • Ethereum Merge May Spur More Institutional Interest (Blockworks)
  • Large ETH Transactions To Exchanges Spark Market Dump Fears (Bitcoinist)
  • ETC Group To Retain Ethereum PoW Hard Fork For ETP (Bitcoinist)

EL SALVADOR

  • Dips be damned, El Salvador is stronger because of Bitcoin (Cointelegraph)

ANALYST'S CORNER

Positive

  • Raoul Pal: Former Goldman Sachs Executive Says Bitcoin and Crypto Bottom Already In, Predicts Big Shift in Macro Backdrop (TDH)
  • InvestAnswers: Huge Institutional Money Could Flow Into Ethereum (ETH) Post Merge, Says Crypto Analyst – Here’s Why (TDH)
  • Smart Contracter: Top Crypto Strategist Predicts Strong Rallies for Bitcoin (BTC) and Ethereum (ETH) – But There’s a Catch (TDH)
  • Ben Cowen: Bitcoin (BTC) Dominance Ripe for Bounce Before Altseason, Says Analyst (TDH)

Negative

  • Anthony Sassano: explains why Ethereum’s ‘final boss’ is still the nation state (TB)
  • Dave the Wave: Analyst Who Called May 2021 Bitcoin Collapse Says Historically Accurate Indicator Suggests BTC in New Phase (TDH)
  • Clem Chambers: ADVFN CEO says Bitcoin could drop to $10,000 if it breaches $17,000 (Finbold | NewsBTC)
  • Hans-Joachim Voth: Zurich University’s professor of economics says Bitcoin ‘doesn’t solve a single problem’ (Finbold)

NOTABLE VOICES

  • Arthur Hayes: BitMEX CEO Says Ethereum’s Merge May Not Happen – Here’s Why (TDH)

PEOPLE IN FOCUS

ACCEPTANCE

  • RUSSIA EYES BITCOIN FOR INTERNATIONAL TRADE IN 2023: REPORT (BM)
  • OpenNode sets up BTC payment infrastructure in Bank of Bahrain regulatory sandbox (CointelegraphBM)

ETF

  • What is a cryptocurrency ETF and how does it work? (Cointelegraph)

MINING

  • Bitcoin Miner Poolin to Issue 'IOU' Tokens After Suspending Withdrawals (Coindesk | BIC | CryptoPotato)
  • Bitcoin mining stock report: Tuesday, September 13 (TB)
  • Bitcoin mining difficulty hits another record, up 3.45% (BM | TB)

WHAT IS BITCOIN MINING? THE COMPLETE GUIDE

LEGAL BATTLES

  • Hodlonaut vs. Craig Wright Case Kicks Off in Norway (BIC)
  • BitGo confirms $100 million lawsuit against Galaxy Digital following merger breakdown (TB | Coindesk | Blockworks | Bitcoinist)

ATTACKS/HACKS/SCAMS

  • Vitalik Buterin impersonators ramp up ETH phishing ahead of The Merge (Cointelegraph)
  • Meet The Elon Musk Deep Fakes Being Used To Promote Crypto Scams (Bitcoinist)

LISTEN

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theinspired
theinspired

I've been aware of Bitcoin since 2011 and my desire is that you will be better informed about the digital asset industry by reading my daily post.


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