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Veteran Trader Shows When Bitcoin Should Hit $35,000 - FiboSwanny Interview

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Welcome to Thursday folks! It's a slow news day and that's primarily because yesterday was jammed packed and we are seeing the residual of that news pour over to today. Top news yesterday was of course the SBF arrest and hearings. Then there was the FOMC meeting and the 50 basis point hike, which did a number on the market because Jerome Powell said they are not done raising rates. Of course Kevin O'Leary saying that CZ did this to SBF is hilarious but he might have a point. 

Today, nothing is really trending but the 1% of people can handle crypto self-custody created some interesting conversation on Telegram. I agree with CZ, right now not many really have the patience to deal with self custody but it will change. Keep your eyes on congress and the regulators because they are coming to attempt to root out the bad actors as a result of SBF. 

Bitcoin has dropped below $17.5K and that makes me believe $16K or lower is in play. However, Crypto whales are "massively" stockpiling Bitcoin so don't think for a second it's over. 

WATCH

LISTEN

Podcast of the Day: SLP442 Joe Burnett Bitcoin Long Term Security and why ETH is doomed | Stephan Livera

Other Podcast

• What If The Stablecoin Market Collapses? Dante Disparte, Head of Global Policy At Circle’s USDC | The Wolf of All Streets
• The Crypto Trader's Mindset | 1000x | On The Margin

CRYPTO MARKET

• Only 1% of people can handle crypto self-custody right now: Binance CEO (Cointelegraph)
• Rep. Tom Emmer mulls bringing back bill aimed at reducing crypto red tape (Cointelegraph)
• Mike Novogratz warns against ‘seeing black swans everywhere’ following FTX crash (Finbold)
• CFTC Says Bitcoin, Ethereum and Tether Are Commodities in Fraud Complaint Against FTX Founder Sam Bankman-Fried (TDH)

BINANCE

• Project alleges unreturned listing deposit as Binance announces delistings (Cointelegraph | BIC)
• Binance's Zhao defends exchange during CNBC grilling (TB)
• CZ Binance on Audits, FTX, the $2.1 Billion SBF Buyout in 2021, and Recent Withdrawal Spree (CryptoPotato)
• Binance CEO Changpeng Zhao Fears Forthcoming Challenges (BIC | TDH)
• Changpeng Zhao Won't Rescue Binance by Selling out Crypto Self-Custody (Coindesk)

BTC

     Price

• Bitcoin fails to clawback Fed-related losses as Silvergate bucks downtrend (TB)
• Why This Bitcoin Bearish Divergence Could Spell Doom For BTC Rally (NewsBTC)
• Rally For Bitcoin Stalled? Economists Don’t Believe Powell’s Hawkish Claims (Bitcoinist)
• Crypto whales are ‘massively’ stockpiling Bitcoin; Here’s why it’s important (Finbold | Cryptoglobe | TDH | ZyCrypto)
• Bitcoin hash rate surges as Ethereum miners shift to mine BTC post-Merge (Finbold)
• Evercore Chairman: ‘Bitcoin Is No Different From Beanie Babies’ (Cryptoglobe)
• Bitcoin Halving Is 65% Completed. Is This Signal of BTC Cycle Bottom? (BIC)
• Bitcoin Miner Core Scientific Receives $72M Offer From Creditor to Avoid Bankruptcy (CryptoPotato | Cointelegraph)

ETH

• Ethereum Active Addresses At Highest Since May 2021, Good News For ETH? (NewsBTC)
• Ethereum (ETH), Gold and Stocks All Positioned for Rallies, Says Macro Guru Raoul Pal (TDH)
• Why is Ethereum (ETH) price down today? (Cointelegraph)

ADA

• Deep learning algorithm sets Cardano price for Christmas Day 2022: $0.43 (Finbold)

MATIC

• Why Polygon (MATIC) Price Isn’t Safe From a Sell-Off (BIC)

LTC

• Litecoin Bearish Signal: Whale Deposits $37.4M In LTC To Binance (Bitcoinist)

FTX FIASCO

• Top FTX Group Executive Tipped Off Bahamas Authorities About Comingling of Funds in November (Coindesk | TDH)
• FTX used 'weird Korean account' to mask Alameda liabilities, CFTC says (TB | EWN)
• Realized losses from FTX collapse peaked at $9B, far below earlier crises (Cointelegraph)
• FTX ex-staffer: Extravagant expenditures and cult-like worshipping of SBF (Cointelegraph)
• Incoming FCA Chair Calls Crypto Firms Like FTX 'Deliberately Evasive' (Coindesk)
• CFTC Says Bitcoin, Ethereum and Tether Are Commodities in Fraud Complaint Against FTX Founder Sam Bankman-Fried (TDH)
• Crypto trading firm QCP Capital has at least $97 million stuck on FTX: Sources (TB)
• US Trustee names Wintermute on creditor committee in FTX bankruptcy case (Cointelegraph)

• Only 3 FTX Execs Could’ve Sent User Funds to Alameda: Co-CEO (Blockworks)