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ANALYZING CYCLES WITH FIBOSWANNY

NOTE: “IF history were to repeat itself, the price of bitcoin would trough December 30, 2022. We would then see a rally into early 2024 and then a strong rally after the actual halving. The following chart shows what might happen if Bitcoin repeats the performance around previous halvings.” Pantera Capital

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Happy Tuesday Folks! As the market cap for Crypto fell under $800B traders are slightly bullish; it has since popped back above $800B. The Crypto markets are nervous as the FTX collapse dents institutional confidence. Bitcoin and Ethereum are approaching the oversold levels and $BTC is poised to outperform $ETH in the coming months. However, Bitcoin has fell to a 2-year low on renewed contagion fears of FTX. Bitcoin miners have started the "most aggressive selling" in 7 years, case in point - Iris Energy is cutting mining hardware after defaulting on $108M loan.

So, Bitcoin shorts have hit a 2-year record keeping the trend overwhelmingly negative as Bears target $13K. In order to break out of this bear market, $BTC would have to get back above $20,200. Cathie Wood at ARK Invest doesn't care, she's adding more Bitcoin exposure as GBTC and Coinbase stock hit new lows. Robert Kiyosaki says he's "still bullish" on Bitcoin and Ethereum despite FTX crisis. But Arthur Hays doubles down on his bearish Bitcoin price prediction of $10K.

This entire market situation is pushing Senators to once again ask Fidelity to stop offering Bitcoin in 401(k)s - which is ludicrous in my view because Bitcoin isn't Crypto. Samson Mow believes Bitcoin will survive the failure of "any giant" in Crypto. Meanwhile we continue to wait for the other shoe to drop.

WATCH

LISTEN

Podcast of the Day: The Top 5 Times Bitcoin Was Supposed to Die, With Dan McArdle | The Breakdown

THE WEEDS

CRYPTO MARKET

• Data shows traders are slightly bullish even as crypto’s total market cap falls under $800B (Cointelegraph | CryptoPotato)
• Market Wrap: Crypto Markets Nervous as the FTX Collapse Dents Institutional Confidence (Coindesk)
• Vitalik Buterin – Centralized Exchanges Could Use Cryptographic Proofs, ZK-Snark To Build Trust (TDH)
• Binance’s Changpeng Zhao and Coinbase CEO Brian Armstrong Support Vitalik Buterin’s Idea for Crypto Exchanges (TDH | BIC)
• Two Essential Strategies to Predict the Bitcoin, Ethereum and XRP Price Bottom (BIC)
• Crypto wallet downloads surpass 100 million in 2022 despite crypto winter (Finbold | Bitcoinist)
• Binance CEO met with Abu Dhabi investors about industry recovery fund: Bloomberg (TB)
• Crypto Market Analysis: Investors See Few Encouraging Signs (Coindesk)

BITCOIN

     Price

• Bitcoin price returns to $16K amid warning over BTC whale selling (Cointelegraph)
• Bitcoin and Ether Approaching Oversold Levels (Coindesk)
• Bitcoin to Outperform Ether in Coming Months, Chart Analyst Says (Coindesk)
• Bitcoin loses support at $15,800; What is the potential level for longs? (Finbold)
• Bitcoin Falls to 2-Year Low on Renewed Contagion Fears (Coindesk | Decrypt)
• Bitcoin price each Thanksgiving revealed: What does 2022 hold for BTC? (Finbold)
• Bitcoin Regains $16K, But Analysts Are Still Bearish (Coindesk)
• Bitcoin Price Trend Overwhelmingly Negative, Bears Target $13K (NewsBTC)
• Bitcoin must reach this price level to escape second-longest bear market (Finbold)

     Mining

• Bitcoin (BTC) Miners Started 'Most Aggressive Selling' in Seven Years: Analyst (UToday | NewsBTC | BIC)
• Iris Energy to cut mining hardware after defaulting on $108M loan (Cointelegraph | BIC | TB | CryptoPotato)
• Crypto Mining and Staking Firm Foundry Buys Some of Troubled Bitcoin Miner Compute North's Assets (Coindesk | TB)
• Bankrupt mining provider Compute North sells assets to its former lender (TB)
• Marathon reports $80M exposure to bankrupt mining firm (Cointelegraph)
• Applied Digital sees buying opportunities as mining hardware selling for dirt cheap (TB)

     Buying

• Cathie Wood’s ARK Invest adds more Bitcoin exposure as GBTC, Coinbase stock hit new lows (Cointelegraph | TDH | Coindesk)

     Notable Voices

• ‘Rich Dad’ R. Kiyosaki says he’s ‘still bullish’ on Bitcoin and Ethereum despite FTX crisis (Finbold)
• Arthur Hayes Doubles Down on His Bearish Bitcoin Price Prediction (UToday)
• Bitcoin will survive failure of ‘any giant’ in crypto, Samson Mow says (Cointelegraph)

     Legislation/Regulation

• Senators Once Again Ask Fidelity to Stop Offering Bitcoin in 401(k)s (Blockworks | TB | CryptoPotato | Coindesk)
• Approving a spot crypto ETF is 'all about political power' — Perianne Boring (Cointelegraph)

ETHEREUM

• Ethereum (ETH) Bulls And Bears Tussle At $1,000; Will Bears Come Top? (NewsBTC)
• ‘Ethereum rainbow’ indicator hits new 2-year low; Will ETH crash below $1,000? (Finbold | NewsBTC)
• One of Ethereum's (ETH) Biggest Buying Days Ends, Here's How Much Was Bought (UToday)
• Here’s Why Ethereum Is Not Out Of The Woods Yet (NewsBTC)
• Institutional Investors Short Ethereum (ETH) at Record Levels Amid ‘Deeply Negative’ Sentiment: CoinShares (TDH)
• Ethereum bears have the upper hand according to derivatives data, but for how long? (Cointelegraph)

BNB

• Why the Collapse in Binance Coin (BNB) Price Is Big News (BIC)

XRP

• XRP Paints Hidden Pattern That You Most Likely Missed: Crypto Market Review, Nov. 21 (UToday)
• XRP Holds Gains While Crypto Market Plummets Badly (NewsBTC)
• Former Goldman Sachs Executive Says He’s Bullish on XRP, Citing Real Use Cases and Network Effects (TDH | Cryptoglobe)
• Bank of America To Partner With Ripple for ODL Services After XRP Lawsuit Finishes: Report (TDH)

ADA

• $ADA: Coinbase Says to Cardano Community in Japan ‘Sorry I Made You Wait’ (Cryptoglobe)
• Major Bullish Milestone For ADA As First USD-Backed Stablecoin On Cardano Goes Live (ZyCrypto | Cryptoglobe)

MATIC

• Magic Eden Eyes Gaming, Brand NFTs With Planned Polygon Support (Decrypt | TB)

LEGISLATION/REGULATION

• President Biden and Other G20 Leaders Call for New International Crypto Regulatory Regime (TDH)

LEGAL BATTLES

• Tornado Cash developer Alexey Pertsev to stay detained until next year’s hearing (Cointelegraph | TB)
• BlockFi puts client loans into forbearance, email shows (TB)

ATTACKS/HACKS/SCAMS

• Netherlands man arrested for allegedly laundering money with bitcoin (TB)
• Two arrested in Estonia for $575 million crypto fraud (TB | Coindesk | TDH)
• US Department of Justice Seizes 7 Pig Butchering Crypto Scam Sites (BIC)

FTX FISACO

     Genesis

• Here’s What A Reg M Entails For Genesis, DCG And Bitcoin – ‘Drop Dead’ Date on Wednesday? (Bitcoinist)
• Gemini is working with Genesis and DCG on solution for Earn redemptions (TB)
• Genesis denies 'imminent' plans to file for bankruptcy (Cointelegraph)
• Genesis Trading Warns of Possible Bankruptcy as Post-FTX Fundraising Falters: Report (Decrypt)
• Bernstein Says Grayscale Bitcoin Trust Is Protected From Fallout at Sibling Company Genesis Global (Coindesk)
• Binance will not invest in crypto lender Genesis: WSJ (TB | CryptoPotato)
• Genesis faces bankruptcy without $500 million cash injection, Binance and Apollo shun crypto lender (EWN)
• Could a Grayscale Bitcoin Trust collapse be the next black swan event? Watch The Market Report (Cointelegraph)
• DCG CEO Barry Silbert updates shareholders, says company will emerge 'stronger' (TB | Cryptoglobe | TB)
• Genesis Global Capital Has Hired Investment Bank Moelis to Explore Options Including Bankruptcy: New York Times (Coindesk)

     Buyout

• Tron’s Justin Sun Joins Ripple in Eyeing FTX Assets (UToday | BIC)

     Notable Voices

• Wolf of Wall Street Jordan Belfort Says Sam Bankman-Fried Used FTX As ‘Personal Piggy Bank’ (TDH)
• FTX’s Collapse a Wake-Up Call for Venture Capitalists, Dragonfly Partner Says (Coindesk)
• JPMorgan Sees a Silver Lining in FTX Collapse (BIC)
• Elon Musk Comments on What Truly Made FTX Fail (UToday)
• Ripple CTO David Schwartz: Investor Groups Allegedly Facilitated The Growth Of FTX Scam (Bitcoinist)
• Binance's CEO Sows Doubt in Crypto Rival Coinbase and Digital Asset Manager Grayscale – Then Backtracks (Coindesk | Cointelegraph)

     FTX

• The nightmare continues for Sam Bankman-Fried and FTX — Law Decoded, Nov. 14-21 (Cointelegraph)
• FTX Blowup Helped Enrich the Ethereum Validators Who Run the Blockchain (Coindesk)
• FTX Exploring Sale or Recapitalization of Healthy Subsidiaries, According to New CEO (TDH)
• FTX ordered to pay reimbursement fees to Bahamian regulators (Cointelegraph | Coindesk)
• FTX, Bankman-Fried's parents bought Bahamas property worth $121 million: Reuters (TB| CryptoPotato)
• Prosecutors investigated FTX for months before collapse: Bloomberg (TB)
• Crypto market liquidity dries up following Alameda and FTX collapse (TB)
• FTX creditor information to remain confidential, at least for now (TB | Coindesk)
• The Fall of Sam Bankman-Fried’s Crypto Empire: A Timeline of FTX’s Collapse (CryptoPotato)
• FTX's new leadership cooperating with law enforcement, regulators (TB)
• Sequoia Capital apologizes to investors after $150 million FTX loss: WSJ (TB)
• Bankman-Fried Apologizes to FTX Employees, Details Amount of Leverage in Internal Letter (Coindesk)
• Who's Who in the FTX Inner Circle (Coindesk)
• FTX Implosion Will Drive Bitcoin To Print Deeper Bear Market Lows, According to New Survey of Crypto Executives (TDH)
• Are Decentralized Exchanges More Attractive after FTX Collapse? (UToday)

     Bankruptcy

• ‘Substantial amount’ of FTX’s assets stolen or missing — Bankruptcy counsel (Cointelegraph)
• FTX Group has cash balance of $1.24 billion, new bankruptcy filing shows (TB | CryptoPotato | Coindesk | TDH)
• Bahamas FTX Liquidators Agree to Transfer Bankruptcy Case to Delaware (Coindesk)

     Alameda

• Alameda Started Moving All of Its Funds Back to Wallets as Bankruptcy Procedure Emerges (UToday)
• Disgraced Crypto Trading Firm Alameda Research Moves $93,353,985 in Ethereum-Based Altcoins Into Single Wallet (TDH)
• On-Chain Data Shows Close Ties Between FTX and Alameda Were There From the Start: Nansen (Coindesk)

     Legislation/Regulation

• Senate committee to hold FTX-related hearing in December (TB)
• US CFTC’s Behnam Will Testify at FTX Hearing in Senate (Coindesk)
• Lawmakers weigh what to do with Sam Bankman-Fried’s political cash after FTX's collapse (TB)

     Hacker

• On the move: FTX hacker splits nearly $200M in ETH across 12 wallets (Cointelegraph)
• High sentiment in FTX's shadow: event recap for Texas Blockchain Summit (Cointelegraph)
• Sam Bankman-Fried deepfake attempts to scam investors impacted by FTX (Cointelegraph)
• Blockchain Analysis Firm Issues Alert, Says Over $60,000,000 in Crypto Stolen From FTX on the Move (TDH)

Other Podcast

• EL Salvador Bitcoin Update with Mike Peterson from Bitcoin Beach, John from Mi Premiere Bitcoin, Nicki and James, and Jaime and Lukas from Global BTC Fest - November 21st, 2022 | Cafe Bitcoin Podcast
• Marathon | Charlie Schumacher | The Mining Pod 
• Eliminating Shadow Banking with Adrian Brink, Co-Founder of the Anoma Project | Untold Stories
• The FTX Contagion with Jesse Powell | What Bitcoin Did
• The FTX and SBF Scam w/ Nico and Opti | Bitcoin Magazine
• The Chopping Block on the FTX/Alameda Fallout: If Genesis Goes Bankrupt, How Low Could Crypto Go? | Unchained
• Nov 21: $375 Million Sports Marketing Deals up in Smoke | Decrypt Daily