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Happy Humpday Folks! ...and Bitcoin appears to be getting over the hump for sure. Bitcoin rises 7% in over 2 days and hits a 5 week high; suggesting the 'parabolic' bear trend is over with $70B inflows into its market cap in the past 7 days. I am not saying I called it on Jul 09 but I continue to believe the bottom is in - only time will prove me wrong; meanwhile, I continue to stack sats. In addition, big news out on $MATIC this morning so ensure you dive into understanding why zkEVM achievement could be incredibly bullish for this assets which is trading right under $1 as I type.

Analysts are bullish on this run believing we could see $30K soon. Raoul Pal believes $SOL could outperform ETH. But rn $ETH continues to crush every other asset in it's path; up 48% in the past 7 days! This might be due to a whale that bought $1.7B in ETH futures. FOMO will kick in and then we will have a pull back but if so don't get nervous - BTFD! The CeFi Contagion continues as Vauld owes $363MM to retail investors and Zipmex has now halted withdrawals; remember folks Not Your Keys, Not Your Coins (NYKNYC!)

There is something going on with the exchanges. All of a sudden they are getting licenses overseas. First it was Italy and now it's Ireland: Gemini, Coinbase, Crypto.com, and BitGo. I will keep watching this development.

Bitcoin Price: $23,567.34

BREAKING

• Tesla Sells Most of Its Bitcoin Holdings (UToday | TB | Cointelegraph | CryptoPotato)

JUST IN

• Whale buys $1.7 billion in ETH futures marking 7-month highest hourly market order (Finbold | CryptoPotato)
• Galaxy Buys $75 Million ETH (Trustnodes)
• The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin (Cointelegraph)
• How to control stress and depression in a crypto winter? (Cointelegraph)
• Data reveals users don’t exit the crypto market but rather diversify their portfolios (Finbold)

BITCOIN

• Why Bitcoin Must Beat $25,500 To Establish A Bull Rally (NewsBTC)
• Bitcoin price hits $24K, but analysts say on-chain data points to an ‘inevitable’ pullback (Cointelegraph)
• Over $10 Billion Worth Of Bitcoin Leaves Exchanges, Spelling Bullish Sentiments For BTC (ZyCrypto)
• Bitcoin rises above $24,000 as crypto market cap retakes $1 trillion (TB)
• Bitcoin Rises 7% Over the Day to Hit Five-Week High (Decrypt | CryptoPotato | BIC)
• Over $70 billion inflows Bitcoin’s market cap in 7 days; Will the price rally be sustained? (Finbold)
• Bitcoin holds 5-week high as trader suggests ‘parabolic’ bear trend is over (Cointelegraph)
• World’s largest non-exchange Bitcoin whale dumps 46,000 BTC worth $1 billion (Finbold | UToday)

ALTCOINS

• Polygon Co-Founder Says Their zkEVM Achieves ‘Holy Grail of Web3 Infrastructure’ (Cryptoglobe | Decrypt | Cointelegraph | Blockworks | Bitcoinist | TB | Coindesk | UToday | BIC | TDH)
• Binance Coin Trading Volume Up 35% As BNB Spikes To $274 (NewsBTC)
• XRP Wins Again: Bullish Rally Sees It Climb to Sixth Spot by Market Cap (NewsBTC)
• Strange Activity Continues on XRP With Over 100 Million Tokens Traded Both Ways in Matter of Minutes (UToday)
• Cardano Now Available To Over 50 Million Trust Wallet Users As ADA Readies For A Go At $1 (ZyCrypto)
• Cardano, Dogecoin, Shiba Inu Post Significant Gains as Traders Envisage 'Long-Term Breakout' (UToday | UToday)
• Solana price enters correction territory after 80% monthly gains (Cointelegraph)
• Dogecoin Shows Signs Of Vigor – DOGE Target Of $0.075 Within Range (NewsBTC | Coindesk)
• Binance Announces Rewards for Dogecoin Users (UToday)

STABLECOINS

• UK Regulators to Introduce Rules for Stablecoins in New Markets Bill (Coindesk | TB | Bitcoinist | Cointelegraph | TB | BIC | Blockworks)
• House lawmakers prep bipartisan stablecoin bill to unveil next week (TB)

ANALYST'S CORNER

• Venturefounder: Bitcoin may hit $120K in 2023, says trader as BTC price gains 25% in a week (Cointelegraph)
• Inmortal: Top Crypto Strategist Says Bitcoin Burst to $30,000 in Sight – If Two Conditions Are Met (TDH)
• Ki Young Ju: Analyst Names "Starting Point" for Next Bitcoin Bull Run: $30K (UToday)
• Mike Novogratz: Bitcoin Can Still Hit $500,000 In 5 Years, According To This Wall Street Veteran (Bitcoinist | TDH | Cryptoglobe)
• Will Crypto Sustain Its Rally? Top Trader Unveils Primary Catalysts Driving the Surge in Digital Asset Markets (TDH)
• Cheds: Bitcoin, Ethereum and SAND Turning Bullish, According to Closely Followed Trader (TDH)
• Raoul Pal: Macro Guru Says Solana Could Be Gearing Up To Outperform ETH As Chart Hints at Rallies (TDH)
• Lark Davis: $ADA: Crypto Analyst Says Once Vasil Hard Fork Date Is Announced ‘This Puppy Will Rip!’ (Cryptoglobe)

CEFI CONTAGION

• By The Numbers: Breaking Down The $3.5B 3AC Owes To Creditors (Bitcoinist)
• Crypto Exchange Coinbase Clears The Air, Claims No Exposure To 3AC (Bitcoinist)
• Crypto lender Vauld owes $363 million to retail investors after halting withdrawals (TB | BIC)
• Breaking: Zipmex suspends withdrawals as CEO denies financial trouble rumors (Cointelegraph | TB | Bitcoinist | BIC)

BLOCKCHAINS

• Bitcoin Hashrate Downtrend Leads To Largest Negative Difficulty Adjustment In A Year (Bitcoinist)
• Ethereum scaling solution zkSync announces mainnet launch in 100 days (TB)
• The Sudden Rise of EVM-Compatible ZK Rollups (Coindesk)
• Solana's New Daily Address Growth Outpaces Other Blockchains, SOL Jumps (Coindesk)

EXCHANGES/WALLETS/CUSTODY

• Cardano and Ronin Networks Are Integrated into Trust Wallet, What Might It Bring Them? (UToday)
• FTX Seeks to Raise More Funds, Targets Flat Valuation From January (Report) (CryptoPotato | TB | Cointelegraph)
• Gemini receives virtual asset service provider license in Ireland (Cointelegraph | CryptoPotato | Bitcoinist)
• Binance.US Starts Affiliate Marketing Program Taking Aim at Coinbase (Coindesk)
• Crypto Custodian BitGo Cleared to Operate in Italy (Coindesk)

MINING

• Texas Bitcoin Miners Go Live Again After Power Outage (BIC | Finbold)
• Bitcoin mining stock report: Wednesday, July 20 (TB)

LEGISLATION/REGULATION

• US senator blasts SEC for non-judicial actions against crypto companies (Cointelegraph)
• Maryland House primary winner promises ‘even-handed’ crypto regulation (TB)
• Colombia Releases Regulation Draft for Crypto Market (BIC)

CENTRAL BANK OF SINGAPORE TO RELEASE BITCOIN, CRYPTO REGULATION PLANS

THE BAD

• FBI Warns US Crypto Investors of Bad Actors Tricking Victims Into Downloading Fraudulent Crypto Apps (TDH)

PODCASTS

• Bitcoin Fundamentals: BTC087: Bitcoin Fedimint - A Decentralized Custody Protocol w/ Obi Nwosu 
• What Bitcoin Did: The Role of Bitcoin Maximalism with Udi Wertheimer 
• The Pomp Podcast: #1054 Pomp Explains The Current Economic Environment
• The Scoop: Ethereum will define web3's 'benchmark interest rate' post-merge, according to Raoul Paul
• Bitcoin Magazine: The Hardest Trade Part II - Becoming The Buyer Of Last Resort
• Decrypt Daily: July 19: NYKNYC
• TFTC: #344: The dollar is strong and the economy is weak with Luke Gromen