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Guess What Day it is? HUMPDAY! With all the FTX Fiasco news going on, a couple big events happened and many are not tuned in. First is Fidelity, yes some have tweeted about it and some news coverage but it appears this story isn't getting the press it should. It's not a small thing that a $4.5 Trillion AUM company is now allowing retail the ability to buy, sell, and custody Bitcoin. Second, in Brazil, legislation has been sent to the President to be sign to allow Bitcoin to be used as a medium of exchange. Lastly, the FTSE Russell is launching 8 digital asset indexes.
Bitcoin's price has seen some appreciate and not sure if that is directly related to the news and this could be nothing more than a relief rally. On a 4 hour chart, Bitcoin is trading at the upper Bollinger Band and $16.5 is looking like the first level of support. Zoom out to the day and it hit the upper band and the bands are constricting; I can see trading sideways for the rest of the week with a support above $16K. On the weekly chart $19.8 appears to be overhead resistance. On the Monthly overhead resistance is around $37K which will drop fairly fast and if we end Dec above $20K I'd be shocked.
WATCH
LISTEN
Podcast of the Day: Why Isn't Sam Bankman-Fried in Jail? | Bankless
THE WEEDS
CRYPTO MARKET
- $4.5 Trillion Financial Multinational Fidelity Opens the Gates to Crypto Trading (BIC | BM | TB)
- Brazil passes law to legalize crypto as a payment method (Cointelegraph | Bitcoinist | BIC | CryptoPotato | Coindesk | Cryptoglobe | ZyCrypto)
- Cryptos Soar as Investors Await Fed Chair Jerome Powell’s Speech (BIC)
BITCOIN
- European Central Bank’s Ulrich Bindseil Says Bitcoin ‘Should Not Be Legitimised’ (Cryptoglobe | Decrypt | Cointelegraph | Finbold | TB | Bitcoinist | ZyCrypto | CryptoPotato)
- First Mover Asia: Bitcoin Rises Toward $17K Despite Investor Unease (Coindesk)
- Bitcoin Looking At ‘Major Move’ In Coming Days, These Technicals Show (Bitcoinist)
- Bitcoin Whales Load Up Over $789,000,000 in BTC in Less Than One Week: Analytics Firm Santiment (TDH | Cryptoglobe)
- Bitcoin Soars Towards $17K as Historic Accumulation and Bottom Signal Flashes (CryptoPotato)
- BTC price taps $17K as analysis warns of inbound Bitcoin ‘risk events’ (Cointelegraph)
- FTSE Russell to introduce 8 new digital asset indexes (TB | Cointelegraph | Coindesk)
- Bitcoin Adjusted For Inflation Brings Bull Market ROI To Zero (Bitcoinist)
- What’s Happening With Wrapped Bitcoin on Ethereum? (Decrypt)
- Bitcoin on Track for Biggest Monthly Loss After Terra Collapse: Details (UToday)
- Bitcoin Rises Briefly as Fed Chair Promises More Rate Hikes (CryptoPotato)
ETHEREUM
- Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout (NewsBTC)
- Ethereum derivatives look bearish, but traders believe the ETH bottom is in (Cointelegraph)
XRP
- XRP Price Prediction: Smashing This Resistance Might Trigger Rally (NewsBTC)
- Is XRP a Security? Coinbase Wallet Mysteriously Delists Ripple’s Native Token (BIC | EWN)
DOGE
- DOGE Rallies 30% On Twitter Payments Anticipation As Elon Musk Props Up Dogecoin (ZyCrypto)
CARDANO
- Does Cardano (ADA) Have Best Staking on Cryptocurrency Market? (UToday)
- $ADA: Gal Gadot-Backed AdaSwap Launches on Cardano Mainnet (Cryptoglobe)
MATIC
- Polygon NFT Sales up 191%, Here's How MATIC Price Reacted (UToday)
LITECOIN
- Veteran Trader John Bollinger Says Litecoin Has Woken Up (UToday)
- These Are the Roadblocks Litecoin (LTC) Price Must Clear to Reach $100 (BIC)
LEGAL BATTLES
- Prosecutors seek arrest warrant for Terraform Labs' co-founder Daniel Shin: Yonhap (TB | Cointelegraph | Coindesk | TDH)
- INX submits bid for Voyager Digital's assets (Cointelegraph | TB)
FTX FIASCO
General
- US Auditing Firms To Charge More for Crypto Company Services Following FTX Collapse: Report (TDH)
- Learn from FTX and stop investing in speculation (Cointelegraph)
- Fear of ‘angry people’ drove Bankman-Fried to open withdrawals for Bahamians (Cointelegraph)
- BlackRock CEO Larry Fink Says FTX Collapsed Because It Created Its Own Token – so Is Binance Next? (BIC)
Contagion
- Genesis creditors organize in bid to forestall bankruptcy move: Bloomberg (TB | Bitcoinist | Coindesk)
- Samsung Investment Arm Got Burnt By FTX Meltdown (BIC)
Bankruptcy
- Bankruptcy court told FTX and Alameda owe BlockFi $1B, but it’s complicated (Cointelegraph)
- BlockFi Most Likely to Pay SEC First, Crypto Lawyer Says (Coindesk)
- FTX's LedgerX to free up $175 million for use in bankruptcy proceedings: Bloomberg (TB)
Legislation/Regulation
- Texas regulator wants Bankman-Fried testimony in securities case (TB | Cointelegraph | Coindesk)
- US lawmaker questions major crypto exchanges on consumer protection amid FTX collapse (Cointelegraph | TB | Coindesk)
- OpenSea CEO: FTX Fallout Is ‘Opportunity’ to Refocus on Trust (Decrypt)
Attacks/Hacks/Scams
- FTX hacker reportedly transfers a portion of stolen funds to OKX after using Bitcoin mixer (Cointelegraph)
Other Podcast
- SLP436 Juraj Bednar Bitcoin as Parallel Economy | Stephan Livera
- Macro and Markets with Greg Foss, Tone Vays, Dr.Jeff & Bitcoin Lightning with the Voltage team, Bobby, Paul, Tee8z and Bob the Builder - November 29th, 2022 | Cafe Bitcoin
- BTC106: FTX Failure, GBTC, Genesis DCG & more w/ Dylan LeClair (Bitcoin Podcast) | Bitcoin Fundamentals
- Fed Officials Say Interest Rates to Remain Higher for Longer | The Breakdown
- How the crypto hiring landscape is responding to industry layoffs | The Scoop
- FTX And Crypto Contagion: Lessons Learned From On-Chain Data | Willy Woo | The Wolf of All Streets
- How the IMF & World Bank Exploit Poor Countries with Alex Gladstein | What Bitcoin Did
- Nov 30: SBF Secretly Giving to the GOP | Decrypt Daily
- Hybrid Finance from the Ashes of CeFi with Mario Stumpo of Yanda | The Charlie Shrem Show
- Bob Elliott: Entering A Seismic Shift In Private Markets | On The Margin
