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Happy Monday Folks! Another fun week is ahead of us and I wonder what will happen? Well one thing for sure - I called the bottom back on July 09, 2022 and so far this relief rally is playing out. Now Kaleo believes we can pop to as high as $28K before falling back sub $20K again, aiming for a double bottom before rallying back to all-time highs. That could be possible and if you are looking at a weekly chart of Bitcoin the falling 20 day MA would be resistance around $28K so if it doesn't breakthrough, he could be right. However, if it breaks above that moving average with high volume, I believe $50K is in the cards. 

At the end of the day, InvestAnswers believes that Bitcoin is probably the safest asset to have in a recession and it appears one is in the works. He's not alone, Edward Dowd, former Blackrock executive, said "Bitcoin will be in everyone's portfolio." As Capital One asks, "What's in your wallet?" Arthur Hayes believes the fed will be forced to print more money and if that happens, it will push Bitcoin higher. In fact, not only has the Central Republic of African made Bitcoin legal tender it now has made it a reserve asset. Meanwhile, there is bearish sentiment coming from Robert Kiyosaki and Kevin O'Leary - both believe Bitcoin will go sub $20K in the short term. 

Crypto Market flashes green reclaiming $1T as Bitcoin miners are "finally capitulating" so again we ask the question is this the bottom? Bitcoin weekly RSI is signaling that as the Fear & Greed index showed extreme fear for 72 days; longest in history. Long term Bitcoin holders did not sell amid the crash and that's the way you HODL! Ethereum is powering higher nearly touching $1,500 and up 30% for the past 7 days crushing all other assets in the top 10. However, MATIC is up 65% in the past 7 days so this relief rally will be good for the alts. 

Speaking of Alts, Jed McCaleb empties his XRP wallet after 8 years of selling off $XRP while David Swartz CTO of Ripple says he regrets choosing company stock over $XRP. Preference for XRP is surging among the BSC Whales as a surge may result in unusual price action. Everyone is still thinking a $10 $ADA but I wouldn't hold my breath. 

Stablecoins continue to be front of mind for most bankers and regulators globally and the CEFI Contagion news is slowing down as it might take years before Celsians can access their funds. So much more below so keep reading, watching, and LISTENING! 

Price of Bitcoin: $22,163.59

CRYPTO MARKET

• Crypto market flashes green reclaiming $1 trillion capitalisation (Finbold | Decrypt | CryptoPotato | Cointelegraph)
  
• Cryptos Rally in Wake of Inflation Data: Here’s Why (Blockworks)

BITCOIN & ETHEREUM

• Data points to a Bitcoin bottom, but one metric warns of a final drop to $14K (Cointelegraph)
• Bitcoin Taker Buy/Sell Ratio Shows Green Signal (Bitcoinist)
• Bitcoin Traders Await Super “Bullish Surprise Move” As Bloomberg Predicts Comeback For Crypto (ZyCrypto)
• Sub-$22K Bitcoin looks juicy when compared to gold’s market capitalization (Cointelegraph)
• Bitcoin price nears critical 200-week moving average as Ethereum touches $1.5K (Cointelegraph)
• Bitcoin Saw Largest Transfer Volumes on These Two Events: Implications (UToday)
• BTC miners ‘finally capitulating’ — 5 things to know in Bitcoin this week (Cointelegraph)
• Bitcoin could have just entered a capitulation phase; Is the BTC bottom in? (Finbold | NewsBTC)
• Bitcoin (BTC) Weekly RSI Shows Signals That Historically Preceded Bottoms (BIC)
• Fear & Greed Index in Extreme Fear for 72 Days – Longest in History (BIC)
• Long-Term Bitcoin Holders Did Not Sell Amid the Market Crash: Coinbase Research (CryptoPotato)
• What is Bitcoin whale watching and how to track Bitcoin whales? (Cointelegraph)
• Ethereum Whale Addresses on the Rise as ETH Nears $1.5K (CryptoPotato)
• Ethereum (ETH) Increases by 70% Since June Lows (BIC | CryptoPotato | BIC | Coindesk | Coindesk | Finbold)
  
• Ethereum Network Saw Influx of 131 Whales as Price Recovers (UToday)

ALTCOINS

• Top 5 cryptocurrencies to watch this week: BTC, ETH, MATIC, FTT, ETC (Cointelegraph)
• Price analysis 7/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX (Cointelegraph)
• XRP Beats Binance USD by Market Cap, Leaves Cardano and Solana in Dust (UToday)
• "Big Mistake": Ripple CTO Regrets Choosing Company's Stock Instead of XRP (UToday)
• Jed McCaleb empties XRP wallet after eight-year selloff (Cointelegraph | ZyCrypto | BIC | CryptoPotato | UToday)
• Preference For Ripple XRP Surges Among BSC Whales (NewsBTC)
• XRP Rapid Trading Volume Surge May Result in Unusual Price Action (UToday)
• ADA's Short-Term Price Predictions Leave Cardano Community Baffled: Details (UToday)
• Wen $10 ADA? Cardano Predicted To End The Year Trading Less Than $1 Despite Vasil Upgrade (ZyCrypto)
• Dogecoin Comes Into Spotlight as DOGE-backed Aliens Basketball Team Snaps Up Medals (UToday)
  
• Matic Jumps 63% This Week After Spike in Network Activity: Details (UToday)

STABLECOINS

• Australian Central Bank Governor Prefers Privately Issued Tokens Over CBDCs (BIC | Coindesk | Bitcoinst)
• India needs global collaboration to decide on crypto's future, says finance minister (Cointelegraph | Coindesk)
• Burdensome but not a threat: How new EU law can affect stablecoins (Cointelegraph)
• G20 Nations Affirm Need for Cross-Border Coordination and Stablecoin Regulation (BIC)
• Australian central bank governor favors private sector crypto technology (Cointelegraph)
• ‘Token will defeat cryptocurrency’: Russia debuts palladium-backed stablecoin (Cointelegraph | BIC)
• USDC issuer Circle lays out its hopes for coming stablecoin policy (TB | Cointelegraph)

CEFI CONTAGION 

BlockFi

• BlockFi Quietly Reduces Employees, Offer Buyouts To Force Resignations (Bitcoinist | TB)

Celsius

• Celsius has finally filed for bankruptcy: Law Decoded, July 18-25 (Cointelegraph)
• Celsius Customers Could Wait Years to Access Funds (BIC)
  
• US-Based Lending Firm Owes $439,000,000 to Embattled Crypto Firm Celsius: Report (TDH)
• The Fall of Celsius Network: A Timeline of the Crypto Lender’s Descent Into Insolvency (Coindesk)
• Investors lost over $100M after Invictus Capital moved funds into UST, Celsius against their wishes (Cryptoslate)

3AC

• 3AC liquidators seek time, access to headquarters as Genesis, Algorand ties are untangled (Cointelegraph)
• Kyle Davies' wife and Su Zhu are both creditors in the 3AC bankruptcy (TB)
• Crypto lender Genesis lent $2.36 billion to Three Arrows Capital (TB | Bitcoinist | Coindesk)
• Five-member creditor committee formed for Three Arrows Capital's liquidation (TB)
• Three Arrows Capital co-founder files $5 million claim against own firm while on the run (Finbold)

(Wed 20 - 12:00 CST - Twitter Spaces Is the crypto contagion over?)

ANALYST'S CORNER

• Raoul Pal: Is the Low In? Macro Guru Updates Crypto Outlook As Bitcoin Surpasses $22,000 (TDH)
• Kraken: Kraken Analysts Outline Potential Bitcoin Surge to Staggering High of $322,478 (TDH)
• Kaleo: Top Crypto Analyst Forecasts Huge Bitcoin Rally, Details ‘Most Likely’ Scenario for BTC in Coming Months (TDH)
• InvestAnswers: Bitcoin Is ‘Probably the Safest Bet’ in ‘A Full-Blown Recession’ (Cryptoglobe)
• InvestAnswers: Ethereum (ETH) and Solana (SOL) Hinting at Relief Rallies Going Into September (TDH)
• CryptoQuant: Bitcoin’s Price Could Drop Below $20K as Miners Facing Capitulation (Analysis) (CryptoPotato)
• Grayscale: Crypto winter has 250 days left if the market cycle repeats: Grayscale (Cointelegraph)
• Andrew Kang: Mechanism Capital Co-Founder says ‘$ETH Is Expensive Here on a Fundamentals Basis’ (Cryptoglobe)

NOTABLE VOICES

• Edward Dowd: Bitcoin ‘will be part of everyone’s portfolio’, says former Blackrock executive (Finbold | BIC | Bitcoinist)
• Arthur Hayes: BitMEX Founder Updates Bitcoin Forecast, Predicts Fed Will Be Forced To Print Trillions of Dollars (TDH)
• Robert Kiyosaki: Expect the ‘greatest SALE on earth’ for Bitcoin and real estate (Finbold)
• Robert Kiyosaki: Rurges Americans to ‘stay awake’ labeling Biden’s crypto edict ‘pure communism’ (Finbold)
• Kevin O'Leary: Warns Massive Capitulation Event Is Coming to Crypto Market (Cryptoglobe)
• Michael Saylor: MicroStrategy CEO says ‘Pretty Obvious’ Cardano ($ADA) Is a Security (Cryptoglobe)
• Sam Bankman-Fried: FTX CEO Speaks on Crypto Uses Beyond Investment (BIC | TDH)
• Michael Ashe: Crypto market downturn could lead to new M&A opportunities, according to Galaxy's top deal maker (TB)
• Hong Kong Central Bank: Crypto is likely to be ‘important for future financial system’ (Finbold)

ACCEPTANCE

• Central African Republic Greenlights Bitcoin As Reserve Asset (EWN)
• Germany and USA are Tied as Most Crypto-Friendly Countries (BIC)

SOUTHLAND CREDIT UNION TO ENABLE BITCOIN PURCHASES IN PARTNERSHIP WITH NYDIG

BLOCKCHAINS

• Bitcoin per transaction cost goes down every four years, coincidence? (Cointelegraph)
• BTC: Jimmy Song Goes to El Salvador To Teach $4,000 Two-Day Bitcoin Programming Course (Cryptoglobe)
• Solana Labs Co-Founder Excited About Upcoming Launch of ‘Saga’ Smartphone (Cryptoglobe)
• BNB Chain Launches New Tool To Help Users Detect Malicious Projects and Scams (TDH)

EXCHANGES

• Gemini cuts more staff as many crypto prices increase: Report (Cointelegraph | EWN | TB | BIC | Blockworks)
• Binance flips Coinbase to become the exchange with the most BTC held globally (Finbold | TDH)
• Coinbase approved to operate as crypto asset service provider in Italy (TB | EWN | Cointelegraph | Coindesk | CryptoPotato | BIC | Bitcoinist)
• Dutch central bank fines Binance €3.3 million for operating without registration (TB | Cointelegraph | Coindesk)
• Coinbase Insolvency Rumors Grow Following Recent Suspension of Affiliate Program (BIC | Bitcoinist)
• ‘Plaid’ Launches Read-Only Integration for Several Major Crypto Exchanges (Cryptoglobe)

MINING

• Sweden favors making steel over mining bitcoin as power gets scarce: Bloomberg (TB | BIC)
• Bitcoin mining stock report: Monday, July 18 (TB)
• Seven Crypto Miners Show ‘Disturbing’ Energy Use, Lawmakers Say (Blockworks)
• Could Bitcoin miners’ troubles trigger a ‘death spiral’ for BTC price? (Cointelegraph)
• Senator Durbin Unhappy With ‘Obscene Amounts of Electricity’ Needed for Crypto Mining (Cryptoglobe)
• PoW and PoS Are Crypto Versions of Fossil Fuel Cars and Electric Vehicles: ECB Report (CryptoPotato)

LEGISLATION/REGULATION

• Paraguayan Senate Passes Bill Regulating Crypto Mining and Trading (TB | Cointelegraph | Coindesk | Bitcoinist)
• House, Senate Democrats push regulators to demand data from Bitcoin miners (TB | BIC | Coindesk)
• The regulatory implications of India’s crypto transactions tax (Cointelegraph)
• India's Central Bank Plans to Ban Crypto (UToday | Finbold | Bitcoinist)
• SEC Chair Gary Gensler Points to What’s Coming for Crypto Regulation in Next Several Months (TDH)

PODCASTS

• The Crypto Conversation: Is Bitcoin Oversold? Indicators suggest yes
• Bankless: 128 - Scariest Macro Setup In 20+ Years | Luke Gromen
• Bitcoin Magazine: Solving The Byzantine General's Problem w/ Jimmy Song
• The Pomp Podcast: #1052 Chase Perkins On Building On Bitcoin’s Layer 3
• The Breakdown: A Primer on Balaji’s “Network State”
• The Wolf Of All Streets: Can Crypto Actually Scale For Mass Adoption? | Sandeep Nailwal
• Bitcoin Magazine: Bitcoin Mining in a Bear Market w/ JP Baric