17 Jun: Time To DCA


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Happy Friday Folks! If you listen to the video by Nicholas Merten below, I agree with him 100% - IF you have DISPOSABLE income (aka Dry Powder) it's time to SLOWLY start deploying it at this level. Why? As Nicholas said, if we remain above $20K and head higher, these are great levels to DCA. Bitcoin is approaching level that historically has acted as a cycle bottom and on-chain analytics indicated market metrics show capitulation; others believe there could be a new potential low. 

Novogratz thinks it's going to take a while for Bitcoin and Ethereum to recover and Arthur Hayes believe Altcoins may lose another 50%  of their value in the upcoming weeks. Speaking of Altcoins, top Altcoins appears to be performing well given the bloodbath the market has taken. But, post recession, it is believed that Cardano could be the fastest chain. Dogecoin deserve more credit for onboarding people into Crypto as well.

The Celsius Saga continues so remain patient, it doesn't appear this will be resolved in a good way for Celsius users but who knows right? Meanwhile, Michael Saylor continues to iterate that he's not selling Bitcoin and they will not be liquidated. Vitalik does see Crypto becoming a global currency, Charles Hoskinson will appear before Congress, Mark Cuban believes the crash highlights Buffett's wisdom; let's see what he thinks when the bull market comes again - not so wise then eh?

Folks ensure you are reading, watching, and LISTENING to as much content as you can because I don't want you listening to me :) 

CELSIUS | 3AC | BABEL FINANCE SAGA

  • Finance Redefined: Three Arrow Capital and Celsius fall brings a tsunami of sell-off in DeFi (Cointelegraph)
  • Celsius users fear collateral liquidation amid transfer freeze (TB)
  • Celsius Drama, 3AC Insolvency Rumors, Bitcoin Amid $20K: This Week’s Crypto Recap (CryptoPotato)
  • Investors Not Looking to Bail Out Struggling Celsius Network (Report) (CryptoPotato)
  • Celsius in Talks with SEC About Withdrawal Freeze as Investigations Get Underway: Fox Reporter (UToday)
  • State Regulators Across the US Are Probing Celsius Network (CEL) After Withdrawal Freeze This Week: Report (TDH)
  • Three Arrows Capital considers asset sales and bailout, WSJ reports (TB | Cointelegraph)
  • BlockFi Says it Liquidated a ‘Large Client’ Amid 3AC’s Margin Calls (Blockworks | Bitcoinist)
  • Bitmex, Deribit, and FTX Liquidated Three Arrows Capital (3AC) Leveraged Positions (EWN | TB | Decrypt)
  • Three Arrows Capital team sought funds for GBTC trade before meltdown (TB)
  • 3AC Performed Treasury Management for Firms in Its Investment Portfolio (BIC)
  • Genesis Trading says it liquidated position of 'large counterparty' amid Three Arrows controversy (TB)
  • Crypto hedge fund Three Arrows hires financial experts to help stay afloat (Finbold)
  • Crypto lender Babel Finance halts withdrawals due to liquidity pressures (Cointelegraph | TB | TDH)
  • Sweeping layoffs, hiring and firing as crypto prices take a massive downturn (Cointelegraph | Blockworks)

BITCOIN & ETHEREUM

  • 5 indicators traders can use to know when a crypto bear market is ending (Cointelegraph)
  • Grayscale Bitcoin Negative Premium Charts All-Time Low (CryptoPotato)

Bullish

  • Bitcoin Long-Term Holders Now Own Nearly 80% Of Realized Cap (NewsBTC)
  • Bitcoin (BTC) On-Chain Analysis: Market Metrics Show Capitulation (BIC)
  • Here's One Silver Lining to Bitcoin Potentially Retesting $20,000 (UToday)

Bearish

  • Market selling might ease, but traders are on the sidelines until BTC confirms $20K as support (Cointelegraph)
  • TA: Bitcoin Remains In Downtrend, Risk of Drop Below $20K (NewsBTC)
  • These Two Indicators Continue to Point to Bitcoin Being Bearish in Short Term (UToday)
  • Bitcoin drops from top 10 assets globally ranking as selling pressure mounts (Finbold)
  • Ethereum price risks a drop below $1K if these key price metrics turn bearish (Cointelegraph)

BITCOIN IS LOSING FAVOR ON DARKNET MARKETS BITCOIN IS LOSING FAVOR ON DARKNET MARKETS

ALTCOINS

  • Cardano Is Seeing Institutional Inflows for Four Reasons: Community (UToday)
  • Cardano, Solana, Tron, And Dogecoin Chart Stunning Relief Rally After Biggest Rate Hike In 28 Years (ZyCrypto)
  • XRP price technical breakdown boosts chances of a 40% drop by July (Cointelegraph)
  • 218 Million XRP Wired by Anon Wallets and These Two Exchanges as XRP Is up 3.55% (UToday)
  • Here’s What’s Next for Solana (SOL), Binance Coin (BNB), NEAR, and $AVAX According to Top Crypto Trader (TDH)

STABLECOINS

  • Tether's USDT market cap dips below $70B for an 8-month low (Cointelegraph)
  • TronDAO Injects $300 Million in USDC to Reserves; USDD Still De-Pegged (UToday)

ANALYST'S CORNER

Bullish

  • Rekt Capital: Bitcoin (BTC) Approaching Level That Historically Acts As Cycle Bottom, Says Top Analyst (TDH)
  • $ADA Whale: ‘Post Crypto Recession, Cardano Will Be One of Fastest Chains’ (Cryptoglobe)

Bearish

  • Peter Brandt: Veteran Trader Who Correctly Predicted The 2017 BTC Price Crash Warns No New All-Time High Till 2024 (ZyCrypto)
  • Jeffrey Gundlach: DoubleLine Capital CEO on Bitcoin: “Wouldn’t Be Surprised at All if It Went to $10,000” (Cryptoglobe | TDH)
  • Jim Cramer: Expects Bitcoin to Dump to $12,000, Its "Pre-Fiasco" Level (UToday | TDH)
  • Crypto Capo: Crypto Trader Who Accurately Predicted Bitcoin Collapse to Sub-$23,000 Months Ago Warns of Potential New Lows (TDH)
  • Mike Novogratz: It's Going to Take a While for Bitcoin and Ethereum to Recover (UToday)
  • Venturefounder: Bitcoin whale support lines up as trader says $14K 'most bearish' BTC price target (Cointelegraph)
  • Arthur Hayes: Altcoins May Lose Another 50% of Their Value in Upcoming Weeks: Bitmex Co-Founder (UToday)

NOTABLE VOICES

  • Charles Hoskinson: Cardano Founder Invited to Talk Crypto and Blockchain in Front of US Congress Committee on Agriculture (UToday)

Bullish

  • Barry Silbert: He's Buying Bitcoin (UToday)
  • Gene Simmons: Hasn’t Sold His Crypto Holdings Despite Market Unrest (Bitcoinist)
  • Adam Back: Bitcoin OG Explains Why He Expects Bitcoin Price to Reach $100K in 2022 (Cryptoglobe | TDH)
  • Rick Rieder: BlackRock’s R. Rieder admits Bitcoin is ‘a durable asset’ despite meltdown (Finbold)
  • Michael Saylor: Billionaire Addresses Margin Call Concerns on MicroStrategy’s Massive Bitcoin Position (TDH)
  • Mark Cuban: Crypto crash highlights Warren Buffett’s wisdom (Cointelegraph)
  • Christine Brown: Dogecoin Deserves More Credit for Onboarding People to Crypto: Ex-Robinhood Exec (Decrypt)
  • Bitcoin Detractor’s Predictions Swim Into View, Should You Be Worried? (Bitcoinist)

Bearish

  • Nassim Taleb: "Black Swan" Author Dismantles Key Bitcoin Narrative (UToday)
  • Vitalik Buterin: Rules out the possibility of global crypto dominance (Finbold | CryptoPotato)
  • Billy Markus:  DogeCoin Co-Founder Hopes the Crypto Community Will Learn from the Failings of Celsius, LUNA and Three Arrows Capital (EWN)
  • Clynton Nel: Realtor dismisses Bitcoin as a hedge asset, says crypto carnage is good for property (Finbold)

ACCEPTANCE

  • Crypto Flies High! Bitcoin As Payment For Tickets Now Accepted By Spain’s Biggest Airline (Bitcoinist | BIC)
  • Accepting Bitcoin for your business just like Tesla: Report (Cointelegraph)
  • Elon Musk Teases Crypto Integration At His First Twitter All-Hands (Blockworks)
  • SHIB, DOGE, BTC Now Accepted by Major European Low-Cost Airline (UToday)

RUSSIAN CENTRAL BANK: BITCOIN, CRYPTO PAYMENTS FOR INTERNATIONAL SETTLEMENT IS “POSSIBLE”

ETF/ETN/ETP

  • European crypto ETN and ETP report: Friday, June 17 (TB)

BLOCKCHAINS

  • Ethereum Set to Undergo Another Major Upgrade on June 29; Here's What to Know (UToday)
  • Popular Meme Crypto Asset Dogecoin Launches New Testnet in Push Towards DeFi Adoption (TDH)

EXCHANGES/WALLETS

  • Ledger’s “Deep Dive Into the World of Cardano, and Its Native Coin ADA” (Cryptoglobe)

MINING

LEGISLATION/REGULATION

THE BAD

  • India’s largest-ever crypto Ponzi scam wipes $12.8 billion from victims (Finbold)
  • Elon Musk and Companies Sued Over Alleged Dogecoin ‘Ponzi Scheme’ (BIC | Cointelegraph)

PODCASTS

  • The Scoop: Institutional appetite for digital assets "has not slowed," according to PolySign and MG Stover CEOs
  • Unchained: Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto
  • The Wolf Of All Streets: Not Your Keys, Not Your Coins | Ledger CEO Pascal Gauthierv
  • The Pomp Podcast: #1009 Darius Dale On Why We’re Already In A Recession 
  • The Breakdown: US Recession Odds Surge Over 70%
  • Untold Stories: Building in a Bear Market with Bobby Zagotta
  • Bitcoin Magazine: The FED Lost all its Credibility w/ Tom Luongo
  • Decrypt Daily: June 16: Tether FUD, FED Raises Rates, 3AC in Trouble?
  • On The Brink: Weekly Roundup 06/17/22 (Celsius chaos, Market contagion, the Fed's Quandary)
  • Bankless: Crypto Crash | Celsius Insolvent? | 3AC Su Zhu | Interest Rate Hike | Jack Dorsey Web5

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TheCryptoCurator
TheCryptoCurator

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. If you want to sign up for SMS alerts - text CRYPTO to +1 (214) 380-2013.


The Crypto Curator
The Crypto Curator

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