“We aim above the mark to hit the mark.”
- Ralph Waldo Emerson

brought to you by STRIKE- Get $10
Buy $BTC and Use the Bitcoin Payments Network at Zero Cost
Better than Venmo and PayPal combined

Happy Monday Folks! I hope you had a great weekend and Bitcoin continues to hang out right above $21K, based on the news it appears accumulation is currently the name of the game. At the same time the balance of Bitcoin on exchanges has hit a 3-year low which is spelling bullish sentiment for BTC. At these levels I hope you are working really hard on stacking your sats because many others small investors are achieving their 1 BTC dream. But remain patient because many believe there is still more pain - will we ever reach $16K? If so have some dry powder ready to deploy.

Big news of the day as far as I am concerned is Deloitte partnering with NYDIG to provide banking for all with Bitcoin. NYDIG is on a massive mission and continues to execute on that mission. If they are successful, everyone will be able to buy Bitcoin right through their native banking app. Don't get caught up in all the drama because the pros are focused on making money. The whole CEFI saga continues as Voyager issues a default notice against 3AC, Morgan Creek is looking to push out FTX in the BlockFi bailout, and crickets about Celsius; other than Goldman Sachs is the shark circling the boat. 

The sentiment in the market is primarily bearish with Bennett, Cowen, JP Morgan, and Capo all providing downside outlook on the market in the short term. Ethereum is currently outperforming Bitcoin and SOL and DOGE outperforming ETH for the week. Make some time to watch the videos and listen to the Podcast. Remain bundled up because Crypto Winter will be here for a while. 

CRYPTO MARKET

• Deloitte Partners With NYDIG ‘To Provide Banking for All With Bitcoin’ (Cryptoglobe)
• Crypto conspiracy theories abound, but prop traders are just doing their job (Cointelegraph)
• Crypto Market Forecast: Week of June 27th 2022 (BNC)

CEFI SAGA

• Voyager Digital issues default notice against Three Arrows Capital (TB | Finbold | EWN | Coindesk | Blockworks)
• Morgan Creek Digital is Reportedly Planning to Raise $250M to Counter FTX’s BlockFi Bailout Offer (EWN | Blockworks | Coindesk)

BITCOIN

Positive

• Three Indicators Suggest Bitcoin Might Be Due for Relief Rally Next: Details (UToday)
• Bitcoin balance on exchanges at 3-year low spelling bullish sentiments for BTC (Finbold | Cointelegraph | CryptoPotato)
• Bitcoin Getting Heavily Accumulated as Number of 10K BTC Addresses Soars (UToday)
• Crypto Market Cap Nears $1 Trillion as BTC Reclaims $21K (Market Watch) (CryptoPotato)
• Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range (Cointelegraph)
• The Richest Bitcoin Whale in Existence Now Has Over $2,763,000,000 in BTC After Massive Series of Transactions (TDH)

Negative

• Bitcoin’s market cap drops $10 billion after SEC chair’s CNBC interview (Finbold)
• First Mover Americas: Bitcoin Holds $21K as BTC Outflows Hit Record High (Coindesk | Decrypt | Cointelegraph | CryptoPotato)
• Google users think BTC is dead — 5 things to know in Bitcoin this week (Cointelegraph)
• Why Pain May Not Be Over For Bitcoin Holders Just Yet (NewsBTC)

ETEHREUM

• Ethereum Soars 30% in Last 7 Days Despite Active Profit Taking of Traders (UToday)
• How low can Ethereum price drop versus Bitcoin amid the DeFi contagion? (Cointelegraph)

ALTCOINS

• Number of cryptocurrencies reach 20,000 setting a new record amid volatile markets (Finbold | UToday)
  
• Jed McCaleb Now Has 114 Million XRP Left: Report (UToday)
• Cardano Clinches Important Development Milestone As ‘$10 ADA’ Price Prospect Gathers Steam (ZyCrypto)
• Dogecoin price could rally 20% in July with this bullish reversal pattern (Cointelegraph | Decrypt | UToday)

STABLECOINS

• Bybit to offer futures contracts settled in the USDC stablecoin (TB)
  
• Crypto Hedge Funds, Traders Short Tether After UST’s Implosion: Report (Coindesk | NewsBTC | CryptoPotato)
• European Union Plans to Ban Interest Payments on Deposits in Stablecoins (UToday)

ANALYST'S CORNER

Bullish

• Dave the Wave: Analyst Who Nailed May 2021 Bitcoin Collapse Unveils Massive BTC Price Target – Suggest Sustained Rally until 2026 (TDH)
• DonAlt: Top Analyst Says Altcoins Could Go ‘Ballistic’ This Week, Maps Out Path Ahead for Bitcoin (BTC) (TDH)
• DonAlt: Top Analyst Bullish on Ethereum and Its Rival Solana, Says Both ETH and SOL Could Ignite Huge Rallies in Coming Months (TDH)
• Nicholas Merten: $XRP, $BNB, $SOL, AVAX, and $UNI Are Showing Strength As Bitcoin Bottoming Begins (TDH)

Bearish

• Justin Bennett:  Top Analyst Issues Warning – Says Stocks, Bitcoin and Crypto Markets on Verge of Collapse (TDH)
• Benjamin Cowen: Top Crypto Analyst Turns Skeptical on Big Bitcoin (BTC) Price Predictions for 2023 (TDH)
• Benjamin Cowen: Has Cardano Hit Rock Bottom? Analyst Benjamin Cowen Looks at State of ADA (TDH)
• JPMorgan: Bitcoin Price May Remain Under Pressure (UToday)
• Capo: Crypto Analyst Who Predicted Bitcoin (BTC) Crash Below $23,000 Has New Alert for Crypto Traders: $16,000 (TDH)

NOTABLE VOICES

• CZ: Binance CEO Gives His Answer to One of the Most Frequently Asked Questions About Bitcoin (Cryptoglobe)
• Brett Harrison: FTX US CEO Explains What Catalysts Could Help Crypto Market Recover More Quickly (Cryptoglobe)
• Chamath Palihapitiya: Billionaire Issues Crypto Warning, Predicts Industry’s ‘Honeypots’ Will Be Exposed (TDH)
  
• Brad Garlinghouse: Reckons Ripple Will Expand Out Of The U.S. If Company Loses XRP v. SEC Lawsuit (ZyCrypto | TDH)
  
• Jerónimo: Argentinian Tour Guide Explains How He ‘Fell in Love’ With Bitcoin and Why It Is So Popular in His Country (Cryptoglobe)
• Dr. Nicholas Weaver: Berkeley professor slams crypto as a ‘pyramid scheme’ designed for criminals (Finbold)

BLOCKCHAINS

• What are Bitcoin covenants, and how do they work? (Cointelegraph)

MINING

• Bitcoin Selling By Miners Could Continue into Q3 if BTC’s Price Does Not Improve – JP Morgan (EWN)
• Almost $4 billion in Bitcoin miner loans coming under stress, Bloomberg says (TB)
• Bitcoin’s Energy Use Dips After Price Drop – Good News For Environmentalists? (Bitcoinist | Finbold)
• Bitcoin network power demand falls to 10.65GW as hash rate sees 14% drop (Cointelegraph)
• Used Crypto Mining GPUs Flood The Market, But Should You Buy One? (Opinion) (CryptoPotato)
• Morgan Stanley: GPU Demand Likely to Slow if Ethereum Moves to Proof-of-Stake (Coindesk | Bitcoinist)
• Bitcoin mining stock report: Monday, June 27 (TB)

WHY MY ENERGY COMPANY PAYS ME FOR RUNNING A BITCOIN MINER AT HOME

THE BAD

• Cardano is the 3rd most-phished crypto project globally (Finbold | Bitcoinist)

PODCASTS

• The Pomp Podcast: #1022 Adam Back On How To Get Through A Bitcoin Bear Market
• On The Brink: Zac Prince (BlockFi) on Navigating Through the Storm
• Bankless: 125 - Ethereum's Hidden Power Structures | Matt Cutler
• On The Brink: Blake King on How Grids can Accommodate Bitcoin Mining (EP.330)