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Happy Monday and Happy MLK Day folks! As today is a holiday the news cycle does seem light and Bitcoin and the broader market seems to be taking a pause from the weekend rally. There are some exciting things happening this week that will create more volatility and which way the market goes is anyone's guess.
Most Covered News:
- Coinflex says new exchange with 3AC founders won't use GTX name after Twitter ridicule.(5)
- Bitcoin mining difficulty jumps 10%, its biggest move since October; Hash rate jumps too.(3)
- Suspected North Korean hackers Lazarus Group move $63.5 million in ether stolen from Horizon bridge.(3)
Crypto long-term adoption depends on regulation, Tom Duff Gordon Coinbase Exec says. Republican Lawmakers push Crypto regulation with new House subcommittee. Rep. Patrick McHenry is the Republican who could decide Crypto’s future. Accenture Exec David Treat says future of Crypto self custody will be portability. However, after losing coins, Bitcoin Core dev starts to doubt self-custody. Hong Kong to publish approved list of Crypto Assets for retail trading. EU finance ministers’ group releases statement on political aspects of digital euro. Bernstein expects Crypto revenue to jump to around $400B by 2033.(2) Who are the richest cryptocurrency billionaires? December 2022 list.
BTC price cancels FTX losses — 5 things to know in Bitcoin this week(Cointelegraph):
- BTC price due consolidation, analysts agree
- Focus shifts to earnings as stocks catalyst
- GBTC winning streak continues
- Difficulty hits new all-time high
- Sentiment exits "fear" as whales buy big
Bitcoin steps out of 'fear' for the first time in nine months(2) as Former SEC Official John Reed Stark names price manipulation as the reason behind Bitcoin’s recent recovery. Bitcoin surge causes over $500M in liquidations, highest in 3 months.(2) Options flip to show stronger Bitcoin into July. Bitcoin could see $25K by March 2023 as U.S. dollar prints 'death cross' — analysis. However, Bitcoin fails to convince that bottom is in with $12K 'still likely.'
Bitcoin price breakout or bull trap? 5K Twitter users weigh in. Machine learning algorithm sets Bitcoin price for February 1, 2023: $21,382. Bitcoin bullish signal: Large Whales accumulated 37,100 $BTC in last 10 days. All eyes on Bitcoin ($BTC) as RSI just cleared a 721-day trend line. Bitcoin Fear and Greed index rises to ‘Neutral’ for the first time in 9 months.
Hash Ribbons gives rare signal to buy Bitcoin. Will it work this time? $600,000,000 in liquidations hit short sellers as Bitcoin ($BTC), Ethereum ($ETH) and Altcoins pop. We asked ChatGPT what will be Bitcoin price in 2030 and it said it couldn't say.(2)
El Salvador’s Congress passes legislation enabling raising funds via Bitcoin ‘Volcano Bonds.’(2) Bitcoin Miners show signs of dumping, bad for rally? Bitcoin Miners and average HODLers are back in the black.
How crypto tokens (but not Bitcoin) will outperform stocks in 2023 — Jeff Dorman Arca’s CIO explains. Ethereum hits ten-week high and turns deflationary again. $XRP tops $0.40 in largest move in six weeks. $XRP Whale withdraws $38M from Binance, bullish? Cardano ($ADA) price is back above $0.30, but rally could be short-lived. Dogecoin notable exception as $DOGE outlives 91% of Cryptocurrencies created in 2014. Polygon ($MATIC) braces for new hard fork designed to boost performance and scalability. Rising Solana tide surges 58% in second strong week.(2)
Binance to let institutions store crypto with cold custody.(2) Bithumb ordered to pay damages for outage during Bitcoin's 2017 rally: Yonhap. Coinbase considers Japan withdrawal amid crypto market volatility. Binance and Huobi team up to recover stolen funds from Harmony One exploit. Ripple’s Former Lead Engineer Nik Bougalis on 3AC Founders’ plans to start a new Crypto exchange.
Nexo investigation is not political, says Bulgarian prosecutors and Nexo sues Cayman Islands regulator over rejected license.(2) Blockchain.com slashes 28% of its workforce amidst Crypto downturn. Monex wants to buy FTX Japan amid bankruptcy proceedings.(2) Four British men jailed over $25M Aussie Crypto fraud.(3) EU agencies to clamp down on cross-border Crypto scammers.
Well that is a wrap folks, if you'd like to be in the know throughout the day, join me on Wubits where I am constantly sharing my thoughts about the Crypto market and personal development type topics. It's a community where you can meet REAL people, make REAL connections, and have REAL conversations. Thanks again for reading, watching, and listening with me.
WATCH
LISTEN
Podcast of the Day: 153 - Why Crypto is Underrated with Tyler Cowen | Bankless
Other Podcast
- #196: Tony Cheng, Managing Partner at Foresight Ventures, on Crypto Venture Capital, Investing in 2023, and Investing in China | Cryptonews
- Team Favorite: SBF's Effective Altruism | Bloomberg Crypto
