"You can't go back and change the beginning but you can start where you are and change the ending."
 – C.S. Lewis

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FOLLOW DAT MONEY! $5.5B

ANALYZING CYCLES WITH FIBOSWANNY

It's Saturday Folks! Last week I couldn't have fathomed that Bitcoin would go below the June low of $17.7K and this week I am shocked it bounced from $15.7K and hasn't gone lower, given the hot mess FTX has been. In fact Bitcoin is the most stable it's been for a one week period ever I believe. $16K trading range will break and when it does, it will be WILD - so again, buckle buttercups this ride isn't over yet. Let's recap the week, shall we?

Monday the price of Bitcoin closed at $16,618.20 and the sentiment was a bit positive as the TD Sequential indicator said it's time to buy. The most covered news of the day was about Elon musk being confident that Bitcoin was going to make it but warned it might be a long winter.
Podcast of the Day: SLP433 v2 P2P Transport Protocol for Bitcoin Core (BIP324) with Pieter Wuille Dhruv and Tim Ruffing (Stephan Livera Podcast)

Tuesday the price of Bitcoin closed at $16,884.61 and the sentiment was leaning positive. The most covered news of the day was ... you guessed it - FTX. However, I opt'd out of tracking any of that news so XRP price soaring took the lead. 
Podcast of the Day: Sam Bankman Fraud: Inside the Collapse of FTX’s Hollow Empire (The Breakdown)

By Wednesday (Humpday) the price of Bitcoin closed at $16,669.44 and the sentiment was still more positive than negative. The most covered news of the day was about the celebrities that were getting sued as a result of working with SBF and FTX. 
Podcast of the Day: Bitcoin is the Answer with Preston Pysh (What Bitcoin Did)

Right over the hump on Thursday the price of Bitcoin closed at $16,687.52 and the sentiment turned negative with the target moving down to $13.5K as Bitcoin bulls and bears tussled with the price stalling around $16.5K. The most covered news of the day was the announcement by FTX that it was filing bankruptcy and the "complete failure of corporate controls" the new CEO has ever seen. 
Podcast of the Day: How We Rebuild with Jesse Powell of Kraken Exchange (Bankless)

As the week came to a close on Friday the price of Bitcoin closed at $16,697.78 and the sentiment continued to be negative with signals indicating as low as $10K. The FTX stories dominated the news and the overall market but again shocking that Bitcoin is holding up for now. The most covered news of the day was Ripple expanding it's presence in the EU. 
Podcast of the Day: Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX? (Unchained)

Bottom line is this folks, As we enter the second week of FTX aftermath, it is my hope that the shock waves are over and the market can regain some sense of balance. The impact FTX has had on the exchanges is enormous and only time will tell how Gemini, Coinbase, and Kraken will handle the large outflows of Bitcoin from their platforms. One thing is for sure, if all you have is a login to a platform to gain access to your Bitcoin, it is a significant risk. I used to be of the mindset that if Coinbase, Gemini, and Kraken can't survive we have larger issues; well that day might be coming. In the meantime, you have to do what is best for you. Be Smart. Be Safe. Stack Sats. HODL.  

Other News

• Bitcoin scarcity rises as bad exchanges take 1.2M BTC out of circulation (Cointelegraph | ZyCrypto)
• ‘Bitcoin rainbow’ indicator drops to all-time low; Can BTC slump to $10k? (Finbold)
• $BTC: Anthony Pompliano Says ‘In Our Darkest Moment, Bitcoin Steps to the Forefront’ (Cryptoglobe)
• Veteran Trader Who Accurately Called One of Bitcoin’s Biggest Crashes Issues Major BTC and Ethereum Update (TDH)
• Ethereum Whales Are Quietly Increasing Their Crypto Holdings, According to Analytics Firm Santiment (TDH)
• XRP Price Might Offer Discount in Short Term as Signal Flashes (UToday)
• Is DOGE really worth the hype even after Musk’s Twitter buyout? (Cointelegraph)
• $SOL: Real Vision CEO Says Solana Is a ‘Great Bloody Opportunity’ at Current Price Levels (Cryptoglobe)
• Binance CEO CZ begins working on Vitalik Buterin’s ‘safe CEX’ ideas (Cointelegraph)
• 'Nerdy' and 'highly intelligent,' Alameda's Caroline Ellison casts complex shadow (TB)
• FTX begins reviewing its assets as part of bankruptcy process (TB)
• Crypto Fund Sino Global Had Deep Ties to FTX Beyond Equity Investment (Coindesk)
• SBF’s lawyers terminate FTX representation due to conflicts of interest (Cointelegraph)
• FTX Founder Sam Bankman-Fried Reportedly Got $300M From the Exchange’s $420M 2021 Funding (BIC)
• Singapore police warn investors against FTX phishing scams: Report (Cointelegraph)
• Proof-of-reserves: Can reserve audits avoid another FTX-like moment? (Cointelegraph)
• ‘The Wolf of Wall Street’ J. Belfort labels FTX a ‘frat house’, says collapse was premeditated (Finbold)
• FTX Collapse Won’t Stop Kevin O’Leary From Keeping Cryptos on Exchanges (BIC)
• I predicted FTX's collapse a month before it happened (Cointelegraph)
• Visa CEO: “Good Stablecoin Regulation” Is “What’s Necessary To Build Back Confidence” (Cryptoglobe | TDH)
• FTX illustrated why banks need to take over cryptocurrency (Cointelegraph)
• Grayscale won’t share proof of reserves, citing ‘security concerns’ (TB)
• FTX Exploiter Converts Millions in Ether to Alameda-Linked Ren Bitcoin Tokens (Cointelegraph)
• Ripple to consider deals for FTX assets: Brad Garlinghouse (Cointelegraph)
• FTX collapse won't impact everyday use of crypto in Brazil: Transfero CEO (Cointelegarph)