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It's Friday Folks! We made it to the end of another week and the sky didn't fall :) So, Bitcoin is on the rise once again but don't call it a comeback just yet! I continue to be cautiously optimistic. Bitcoin above $25K will begin to get me bullish and above $35K and I become a raging bull.
Today is option expiry and Bitcoin bears need to push the price below $20,000 today to secure a $620 million profit. On the other hand, the bulls' best case scenario requires a pump above $22,000 to reduce the impact by $140 million. CZ believes we will see ATHs again next year or the year after.
XRP is up 14% for the week after surging 16% in the past 24 hours, Solend drama continue as it imposes account borrow limits, and 600MM DOGE was sent to Robinhood anonymously. In the world of Stablecoins ETH and USDC is now supported on Polygon by Coinbase. Altcoin Sherpa believes Solana will outperform all other Altcoins but I'd disagree - I believe MATIC will take the crown on that.
More ATMs are being placed in Hispanic grocery stores, miner capitulation has already happened, and Hoskinson talked with Congress. Make time to watch this video on Mnemonic seeds, listen to some podcast, and read the Voyager Drama tweet thread - I can't make this stuff up people!
CONTAGION CONTAMINATION
- FTX in talks to acquire BlockFi stake, Wall Street Journal reports (TB | Coindesk | Cointelegraph | TDH)
- How the BlockFi bailout could signal a change for the crypto industry (TB)
- Cryptocurrency Firm Babel Finance Strikes Debt Agreement With Counterparties (Bitcoinist)
- Celsius Enlists Advisers for Potential Bankruptcy, According to WSJ Report (Blockworks | Cointelegraph | Blockworks)
- Goldman Sachs Leading Investor Group to Buy Celsius Assets: Sources (Coindesk | TB | ZyCrypto)
BITCOIN
- Bitcoin gives ‘encouraging signs’ — watch these BTC price levels next (Cointelegraph)
- Bitcoin Volume Indicators Show No Buying Power on Market, But It Is Totally Fine (UToday)
- Bitcoin Downtrend Could Be at Its Climax as It Loses 73% from ATH Reached 227 Days Ago (UToday)
ETHEREUM
- Ethereum price breaks out as 'bad news is good news' for stocks (Cointelegraph)
ALTCOINS
- Ripple Overtakes Cardano in Market Cap Top: CoinMarketCap (UToday | UToday)
- Ripple plans to hire 50 engineers as it opens an office in Toronto (Finbold | Bitcoinist | TB)
- XRP Surges 16% in Past 24 Hours, Making It Highest Percentage Gainer Among Top 10 (Cryptoglobe | Cointelegraph)
- Solend Imposes Account Borrow Limit, Underscoring Challenge of DAO Governance (Blockworks)
- 600 Million DOGE Sent to Robinhood Anonymously: Details (UToday)
STABLECOINS
- Coinbase Launches Support for ETH and USDC Transfers on Polygon (UToday)
ANALYST'S CORNER
- Rekt Capital: Buy Side Volume Must Increase for Bitcoin To Reverse Course (TDH)
- Scaramucci: Bitcoin Is ‘Technically Oversold’ (Coindesk)
- Mark Palmer: Bitcoin Forecast Increased to $95,000 by End of 2023, Says Analyst; Here's Why (UToday)
- Altcoin Sherpa: Solana Will Outperform Vast Majority of Altcoin Market (TDH)
NOTABLE VOICES
- CZ: Crypto’s Richest Billionaire Says Bitcoin (BTC) Will Revisit $69,000 Price (TDH)
- Brett Harrison: FTX US President says This Crypto Winter is Much Similar to Previous Ones (CryptoPotato)
- Charles Hoskinson: Cardano (ADA) Founder Says Bear Market Makes Crypto Industry Collaboration Easier (TDH)
- Brad Garlinghouse: DOGE Should Not Be Banned to Protect Traders: Brad Garlinghouse (UToday)
ACCEPTANCE
- Bitcoin payments make a lot of sense for SMEs but the risks still remain (Cointelegraph)
ETFs/OPTIONS
- Here’s how pro traders could use Bitcoin options to buy the $20K BTC dip (Cointelegraph)
BLOCKCHAINS
- Why Solana Is Going Big on Mobile—And Making a Smartphone (Decrypt)
EXCHANGES/WALLETS/CUSTODY/ATMS
- Coinbase to Offer ‘Nano’ Bitcoin Futures Via Derivatives Exchange (Blockworks)
- Over 50 crypto ATMs to be installed at a major Hispanic grocery chain in the U.S. (Finbold | Bitcoinist)
- US State Passes Legislation Allowing Financial Institutions To Offer Crypto Custody Services (TDH)
MINING
- Bitcoin miner 'capitulation event' may have already happened — research (Cointelegraph)
- Marathon Digital Cut to Neutral at B. Riley on Bitcoin Price Declines (Coindesk)
- Bitcoin mining stock report: Friday, June 24 (TB)
- Ethereum Hashrate Plunges Over 10% As Mining Profitability Drops (Bitcoinist)
MEV IS COMING TO BITCOIN AND IT WILL CHANGE MINING PROFITABILITY
REGULATION/LEGISLATION
- Hoskinson pitches software-enabled crypto self-regulation to Congress (Cointelegraph | CryptoPotato)
- Pro-BTC Commissioner Hester Peirce Blasts Regulators, Says SEC Agenda Will Trigger ‘Dangerous’ Market Conditions (TDH | Cointelegraph)
WHAT DOES THE FINANCIAL ACTION TASK FORCE HAVE IN STORE FOR BITCOIN?
THE BAD
- Guy locks phone with potentially $6 million in crypto; Here’s how much the hacker recovered (Finbold | Cointelegraph)
PODCASTS
- The Breakdown: Powell Finally Talks Recession
- Bitcoin Audible: Guy's Take #56 - The Cascading Dominoes - Part 1
- Decrypt Daily: June 23: Voyager Hit, NPR Criticism, Crypto Hotline Bling
- Bitcoin Magazine: How War is Linked to our Economic System w/ David Zell
- Unchained: Solend and Bancor Drama: Did These DAOs Violate the Ethos of Crypto?
