"The great thing in this world is not so much where you stand, as in what direction you are moving."
- Oliver Wendell Holmes

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Happy Saturday Folks! Last week, Bitcoin was trading at $22,297.86 and now its rocketing toward $25K with conviction. I claimed the bottom was in on 9 Jul 2022 and so far it continues to be a good call. Why do I keep repeating this? Because at the time the sentiment from all the analyst and thought leaders were calling for $12-14K, they were saying we had another leg down due to raising interest rates and the recession that is not a recession was coming. Well? Okay on with the news ;) 

Monday the price of Bitcoin was $21,910.00 and even I thought last Saturday we might see a pull back to $20K. The most covered news of the day was about Tesla's recorded $64MM gain on their Bitcoin sales but still showing an impairment. In addition, Voyager rejecting Alameda's buyout offer was definitely covered far and wide which they still have not accepted; it will harm investors. Zipmex said it was considering offers with other "interested parties" but as you will see later in the week filed for bankruptcy themselves. The sentiment around Bitcoin was mixed heavily positive and negative. 

On Tuesday, the price on Bitcoin was trading around $21,055.29 and the sentiment once again hints as no clear news on which direction Bitcoin could go, but Dave the Wave said Bitcoin was flashing a strong bottom signal. The most covered news of the day was Senators Toomey and Sinema introducing a bill to exempt small crypto transactions ($50) from capital gains tax; what a joke right?  In addition, Celsius brought on their former CFO as an advisor in the bankruptcy proceedings. FTX held discussions to acquire Bithumb, Kraken under investigation for violating US sanctions and Crypto market cap sliding under $1T as $40B left the market in 24 hours. Lastly, Cryptojacking in financial sector rose 269% just this year alone. 

By Wednesday, the price of Bitcoin was trading around $21,295.86 and it was the calm before the storm as we awaited the news from the Fed to see how much they would increase and to everyone's surprise they did raise it 75 basis points and Bitcoin rallied! Ethereum surged as well by 9% as the broader market followed suit. The most covered news of the day was Tether saying suck it! It doesn't hold Chinese commercial paper. 

Right over the hump on Thursday, the price of Bitcoin was trading around$23,053.55 - so much for interest rate hikes crushing Bitcoin. The sentiment was most definitely bullish with a hints of bearishness about the coming economic data to tell if we were in a recession not recession. Most covered news was about Zipmex filing for Bankruptcy. In addition, the law commission of England and Wales saw Crypto as a new type of property (no duh) which we've been saying for nearly a decade? Also, Democratic senator chiding Fidelity for BTC-exposures to retirement funds is completely asinine.  

As we headed into the weekend on Friday, the price of Bitcoin closed at $23,804.63 and many were wondering if this was a fake out or could the rally continue? Well as you see above - the rally will continue and the next level of significant resistance will be around $30K. The overall market sentiment was cautiously optimistic because $24K didn't get flipped so that's that. The most covered news was Charles Schwab launching a crypto-linked ETF. In addition, the "Summer Relief Rally" driving Bitcoin over $24.3K for the first time in over 6 weeks. 

PODCASTS OF THE WEEK

• Bitcoin Magazine: Michael Saylor Interview: The Future of Bitcoin
• What Bitcoin Did: Can Bitcoin Become Legal Tender in America? With Aaron Daniel
• Bitcoin Fundamentals: BTC088: FED Policy, Bitcoin ETFs, & Euro Dollar Impacts w/ Steven McClurg 
• The Wolf Of All Streets: Coinbase's Top Researcher On When To Expect Institutional Investors To Adopt Crypto | David Duong
• Bitcoin Magazine: Michael Saylor: Building Bitcoin Adoption - Exclusive Interview Part 2

WEEKEND NEWS

• Crypto prices continue to tick upward as recession fears grow: the week in markets (TB)
• Binance CEO Changpeng Zhao Highlights Need for Market Reset, Says Crypto Should Only Attract Believers (TDH)
• Binance CEO CZ Explains Why Stablecoin Dominance Is Bullish for Crypto (UToday)
• Dan Morehead: Is Crypto Bottom Fully In? CEO of Pantera Capital Says Industry’s ‘Stresses’ Peaked in Q2 (TDH)
• Bitcoin (BTC) Likely To Pull Off Disbelief Rally in Face of Economic Recession, According to CoinShares (TDH)
• Bitcoin Enters Full Accumulation Season, With Shrimps and Whales Seizing Their Share Of The Pie (ZyCrypto)
• Bitcoin due 'one of greatest bull markets' as July gains circle 20% (Cointelegraph)
• Here’s How Bitcoin Can Reach $10,000,000 per BTC, According to Crypto Researcher (TDH)
• Crypto’s ‘Dry Powder’ Indicator Just Flipped – Here’s What’s Next, According to Will Clemente (TDH)
• Binance’s CZ: High Inflation And Recession Fears Will Drive Bitcoin Adoption (NewsBTC)
• BTC on-Chain Analysis: Long-Term Holders Experience Capitulation (BIC)
• Historically accurate Bitcoin metric exits buy zone in 'unprecedented' 2022 bear market (Cointelegraph)

BITCOIN CAN FINANCE GROWTH IN THE CANNABIS INDUSTRY

• Ethereum Passes Important Resistance Level: What's Next? (UToday)
• Ethereum 2.0 Locked ETH Is Holding $15 Billion In Losses (Bitcoinist)
• Ethereum Bullish Signal: Exchange Inflows Decline To Low Values (NewsBTC)
• Here's How Ethereum (ETH) Economics Will Be Affected by Merge: Report (UToday)
• Kaleo: Ethereum Could Unexpectedly Explode Back to New All-Time Highs Amid ETH 2.0 Hype (TDH)
• Altcoin Sherpa: Crypto Analyst Predicts Strong Surge for Ethereum, Axie Infinity and LOOKS (TDH)
• Guy: Coin Bureau Predicts Ethereum Classic ($ETC) Could Benefit From ‘The Merge’ (Cryptoglobe)
• Zilliqa (ZIL) Founder Explains Why Ethereum (ETH) Is Better Than Other L1s (UToday)
• $XRP Surges 11% to Take 6th Place From $ADA (Cryptoglobe)
• XRP & Cardano (ADA) Need This To Hold On to Conquered Places in Market Cap Top (UToday)
• Ripple’s XRP-Powered Cross-Border Payment Product Sees 800% Growth Despite Ongoing SEC Lawsuit (TDH)
• Ripple: First Version of Colombia's Land Registry Debuts on XRPL in Historic Feat (UToday)
• Cardano Jostles With XRP As ADA Gathers Pace Even As Vasil Upgrade Is Delayed Again (ZyCrypto)
• Cardano Investors Unmoved By Market Rally As Price Predictions Remain Conservative (Bitcoinist)
• Cardano Price Is Surging, ‘Potentially a Huge $ADA Breakout Setting up on ADA/BTC’ (CryptoGlobe)
• ‘Solana Is A Ticking Time Bomb’ — Ether Proponents Reject Comparisons to SOL (ZyCrypto)
• Dogecoin (DOGE) Will Lose All Its Value, Finder’s Survey Shows (NewsBTC)
• $DOGE: Daily Active Dogecoin Addresses Surged 265% in Two Months, Data Shows (Cryptoglobe)
• $1.7 billion inflows Ethereum Classic market cap in a week as ETC gains momentum (Finbold)
• Tether to Hedge Funds Shorting USDT: Strategy Failed, ‘You Made no Profit’ (BIC)
• Ethereum Creator Vitalik Calls Bitcoin Maximalist Michael Saylor a ‘Total Clown’ (Cryptoglobe)
• Former Voyager Executive Wants Different Restructuring Plan for Embattled Firm (BIC | TB)
• Crypto Futures Exchange CoinFLEX To Lay Off Employees As It Fights Legal Battle With ‘Bitcoin Jesus’ (TDH)
• Ethereum Mining Firm Launches ETC Mining Software; Weekly ETC Price Surges 54% (UToday)