22 Jun: Recovery in Progress


“Hope is being able to see that there is light despite all of the darkness.
- Desmond Tutu

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Happy Humpday Folks! We are NOT out of the woods but the sentiment seems to be tilting that the market is recovering a bit. Getting back above $25K on the daily and $35K on the weekly are the areas I am still watching to truly determine if this is a true recovery of just simply a relief rally. Gareth Soloway has established a HODL position and is currently buying at these levels. Cred and Smart Contracter have somewhat bullish outlooks on the market but Ian Harnett is quite bearish. Dan Tapiero indicates that Bitcoin can not die; I agree.

The Solend situation seems to be improving by the Whale moving $25M in USDC off the platform. The move reduces the utilization of USDC within the Solend platform and allows users to withdraw their assets once more. USDC is flipping USDT but only in volume and just like USDC, USDT has now launched a GBPT stablecoin pegged to the Pound. 

Lots of mining news today as it appears miners are in trouble and are spending all of their Bitcoin. Meanwhile Iris is ramping up their hashrate and a miner in Wyoming is getting power from a publicly traded utility company. Definitely listen to the Bitcoin Fundamentals Podcast as Pysh talks with Dorsey.

JUST IN

BITCOIN

  • Bitcoin Dominance Rate (BTCD) Falls Sharply After Rejection From 48% Resistance Area (BIC)
  • Bitcoin Rejected At $21K, Why A Retest Of The Lows Could Be Positive (NewsBTC)
  • ‘Buying The Dip’: Bitcoin Whales Scoop Up $2.4 Billion Worth Of BTC In Days As Holdings Hit Record High (ZyCrypto)
  • Bitcoin Dips Below $20K as Fed’s Chair Powell Addresses Senate (CryptoPotato)
  • Friday’s $2.25B Bitcoin options expiry might prove that $17.6K wasn’t BTC’s bottom (Cointelegraph)
  • Bitcoin price rises to $20.7K as Fed's Powell says more rate hikes 'appropriate' (Cointelegraph | BIC | NewsBTC)
  • TA: Bitcoin Trims Gains, Why 100 SMA Could Trigger Fresh Increase (NewsBTC)
  • Over $2 billion Bitcoin outflows exchanges in a week; What it means for BTC price (Finbold)

ALTCOINS

  • Ripple v. SEC: Major Court Decisions That May Make Direction of Lawsuit Imminent: Fox Reporter (UToday)
  • Japanese Megabank Acquisition of Stake in SBI Holdings Could Be Bullish for Ripple, Believes John Deaton (UToday)
  • Solana whale moves $25M of USDC debt from Solend to Mango Markets (Cointelegraph)
  • Voyager Digital’s 60% Slide Leads the Sell-off for Crypto Equities (Blockworks)

STABLECOINS

ANALYST'S CORNER

  • Katie Stockton: Bitcoin ($BTC) Technical Analyst Points to Key Support Level to Watch (Cryptoglobe)

Bullish

  • Cred: Top Crypto Strategist Details Bullish Scenario for Bitcoin As BTC Surges Above $21,000 (TDH)
  • Smart Contracter: Trader Who Called 2018 Bear Market Bottom Says One Altcoin Already Gearing Up for Next Bull Market (TDH | Cryptoglobe)
  • Altcoin Sherpa: Here’s What’s Ahead for Solana, Avalanche and One Low-Cap Altcoin, According to Top Crypto Analyst (TDH)

Bearish

  • Will Clemente: Bitcoin likely set up for ‘mean reversion’ soon, hints Lead Insights Analyst (Finbold)
  • Capo: Trader Who Called Current Market Collapse Makes Bitcoin (BTC) Bottom Prediction – Here’s His Price Target (TDH)
  • Nicholas Merten: Here’s the Worst-Case Scenario for Bitcoin (BTC), According to Crypto Analyst Nicholas Merten (TDH)
  • Ian Harnett: Bitcoin could plunge even further to a low of $13,000, one strategist warns (CNBC)

NOTABLE VOICES

  • Brett Harrison: FTX US Chief  Names Three Things That Could Spark Crypto Market Recovery (TDH)
  • Dan Tapiero: Bitcoin ($BTC) ‘Cannot Die Because It Will Never Die in All Places All at Once’ (Cryptoglobe)
  • Michael Sonnenshein: Grayscale Boss Explains Why Approval of Inverse Bitcoin ETF Is Good Sign for Crypto (UToday)
  • Hester Peirce: SEC’s Commissioner opposes crypto bailouts — SBF didn’t get the memo (Cointelegraph | CryptoPotato | BIC | Cointelegraph)
  • Charles Hoskinson: On SEC’s Lawsuit Against Ripple Over Initial Sale of $XRP Tokens (Cryptoglobe)

ETFs/ETNs/ETPs

  • Scaramucci’s SkyBridge to take another shot at spot Bitcoin ETF (Finbold)
  • European crypto ETN and ETP report: Wednesday, June 22 (TB)

BLOCKCHAINS

  • Ethereum's Gray Glacier (or How I Learned to Stop Worrying and Love the Difficulty Bomb) (Coindesk)
  • Ethereum dYdX Will Launch Standalone Blockchain On Cosmos, Token Jumps 10% (NewsBTC)
  • Cardano Dev Team Set To Launch First Light Wallet (Bitcoinist)

EXCHANGES/WALLETS/CUSTODY

MINING

  • Bitcoin miners sold their entire May harvest: report (Cointelegraph | Finbold | CryptoPotato)
  • Bitcoin Miner Iris Energy Increases 2022 Hashrate Estimate to 4.3 EH/s (Coindesk)
  • Publicly-Traded Utility Company Inks Deal to Power Bitcoin Mining in Wyoming (Coindesk)
  • Miner Bit Digital made $8 million in bitcoin mining revenue in Q1 2022 (TB)
  • Bitcoin Blockchain Begins To Awaken From Death Spiral (Bitcoinist)
  • Bitcoin Miner Liquidations Threaten Bitcoin’s Recovery (NewsBTC)
  • Terra Bitcoin mining pool officially launches (TB)
  • Bitcoin mining stock report: Wednesday, June 22 (TB)

LEGISLATION/REGULATION

  • UK Government Reverses Stance on Data Collection of Self-Custody Crypto Wallets (TDH)
  • Lummis-Gillibrand crypto bill comprehensive but still creates division (Cointelegraph)
  • U.S. Governor signs bill allowing Louisiana banks to custody Bitcoin and crypto for customers (Finbold)
  • Republicans Seek to Counter Effort to Curtail Crypto Mining (Coindesk)
  • European Central Bank head calls for regulation to focus on Bitcoin and DeFi (Finbold)

THE BAD

PODCASTS

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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
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