Crypto News: All Time High, BTC, ETH, NVIDIA, Memecoins & MORE!!

Welcome to the coima Weekly News rounder My name is Jessica and my name is guy Here are the top stories in crypto this [Music] Week alltime high BTC blast through 70k Before a slight pullback leaving Everyone wondering if a correction is Coming or if it's up only from here what Comes next for Bitcoin ethereum upgrade Imminent eth hits 4K as the denune Upgrade approaches and speculation Around its spot ETFs starts to rise how High could e go in the next few days Mcoin craze continues memecoins of all Kinds hit record highs while new ones Emerge making Millionaires and breaking Apes why are meme coins rallying so much Nvidia stock blinks the stock that's Been leading the market Falls 10% in the Final hours of Friday's close are we About to see a massive market crash and A closer look at last week's top Performing cryptos and where they could Be headed next all this and More in just A Moment last week BTC hit an all-time High of just over $70,000 surpassing its previous all-time High of $ 69.4 by now you'll know that btc's price Action has been driven primarily by Inflow into the spot Bitcoin ETFs which Saw record inflows last week according To June analytics and if you've been

Watching the charts closely you'll know That BTC saw a sharp pullback when it Hit its new all-time high and that it Saw a similar pullback when it spiked Slightly above its previous all-time High a few days prior this was of course Fundamentally due to leveraged Liquidations specifically when BTC hit a New all-time high a bunch of Traders Started Ed betting that it would keep Rallying however BTC Wales be they Crypto or trafi simultaneously took Profits around these levels causing Prices to dip slightly this in turn Caused traders who went irresponsibly Long to get liquidated to put things Into perspective there were over $1 Billion dollar of liquidations after BTC Hit a new all-time high that translated To over $1 billion of sell pressure Which took btc's price lower at the time Of shooting BTC is hovering just below Its previous all-time high and it has Everyone on edge that's simply because The crypto Market is at a critical point Where it'll either explode higher or see A much needed correction and funnily Enough it seems that the Catalyst for Either of these outcomes is the same it All ultimately depends on those spot Bitcoin ETF flows or rather the Investors behind them consider that the Investors in the spot B Bitcoin ETFs Have yet to experience the 20 to 30%

Corrections that BTC has historically Seen on its way to new alltime highs Some would argue that the spot Bitcoin ETFs have decreased btc's volatility but The sharp rejections we've seen after BTC hit a new all-time high suggests This isn't the case at least not yet Rather these recent rejections suggest There's an enormous amount of Leverage In the crypto Market something that's Underscored by usdt supp Supply likewise Hitting new highs for context usd's Primary demand driver is leverage Trading when you see tether print 1 Billion that tells you that Traders are Taking on lots of Leverage so far most Of the resulting volatility has been to The upside but it's possible that ETF Investors will get their first taste of The downside risk in the coming days That's because BTC seems to be painting An ascending wedge pattern on The Daily A bare bearish pattern that could cause A drop to around 59k the catch is that All the leverage could cause BTC to drop A lot lower as all the Longs get Liquidated depending on the Catalyst for This dip the drop could be temporary or Longer lasting and as always there's no Shortage of catalysts to choose from Crypto regulations economic data Inflation prints Etc now if you're Planning on trading BTC through what's Likely to be another volatile week then

You can maximize your gains with the Help of the coin Bureau deals page it's Got trading fee discounts of up to 60% And sign up bonuses of up to $50,000 on The best crypto exchanges these deals Won't be around for long so take Advantage of them ASAP using the link in The Description now btc's massive rally has Managed to lift pretty much all altcoins Despite the relative lack of capital Rotation as the largest altcoin eth has Been the biggest recipient of these rot Ational flows and it managed to hit $4,000 last week for reference the last Time eth hit 4K was over 2 years ago Time flies anyways turning to the charts You can see that eth is looking Similarly overextended to BTC on The Daily and also appears to be painting an Ascending wedge pattern a correction in Eth's case could take it down to around 3.4k but remember that leverage long Liquidations could take it lower still In fact it's possible eth could surprise To the downside if there is a correction That's because eth BTC is looking very Weak on The Daily this is surprising Given that ethereum's denune upgrade is Just two days away and it begs the Question of why we're not seeing more Eth strength besides the fact that the Biggest beneficiaries of denune will be Ethereum's layer 2os it's possible that

There are concerns around potential Technical issues too if you watched our Previous ethereum updates you'll know That quite a few technical issues have Arisen since ethereum's transition to Proof of stake it goes without saying Therefore that a technical issue related To denune would be very bad news for eth On the flip side though a smooth Denon Upgrade could be the Catalyst eth needs To get a boost both in Fiat terms and BTC terms this would be ideal as eth Doesn't seem to have any other imminent Catalysts if you missed the news the SEC Once again delayed the spot ethereum ETF Applications this is not that surprising Given that Bloomberg analysts have been Saying ever since the spot ethereum ETFs Were tabled that the SEC will choose to Approve or deny on the final possible Date in May as with the spot Bitcoin ETFs industry players have started Pressuring the SEC to approve the spot Ethereum ETFs much sooner the difference Though is that these industry players Have come from within the crypto Industry now Bloomberg ETF analyst Eric Balunas noted that the absence of asset Managers in this equation may not be a Good sign in case you missed it there Had been lots of back and forth between The SEC and asset managers like black Rock in the leadup to the spot Bitcoin ETFs being approved this back and forth

Has been noticeably absent for the spot Ethereum ETFs which is a part of why Many experts are skeptical About whether they'll be approved Anytime soon and you can watch an Interview that our CEO Nick did with one Of these experts using the link in the Description on the flip side however There are many experts who believe that The SEC can't deny the spot ethereum ETFs and in particular grayscale's Application to convert its ethereum Trust into a spot ETF that's because When the SEC rejected grayscale's Bitcoin trust conversion gray scale took The regulator to court and won the only Difference this time is that the Technical rule change required for the Eth ETF is different for that of the Bitcoin ETF it's further explained in That interview I just mentioned what This basically means is that should the SEC reject a grayscale conversion a Lawsuit brought by the asset manager may Not be as likely to succeed as its Bitcoin ETF lawsuit of course dealing With the SEC is step into the unknown in Many respects something we have come to Expect from the regulator anyhow while Many experienced crypto investors have Been patiently waiting for proper Capital rotation out of BTC and into Altcoins it seems that Deens have taken It upon themselves to go straight to the

Other Extreme of the risk spectrum of Course I'm referring to the insane meme Coin rallies we've seen lately insane is Not an exaggeration either Sheba enu Market cap for instance is literally $20 Billion at the time of shooting this Makes Sheba enu just as valuable as Warner Brothers or France's largest bank Or China's national Railway company Never mind all the other meme coins that Have market caps in the billions now as Well now from our perspective there are Three reasons why this could be Happening the first is that Meme coins Are some of the most accessible Cryptocurrencies due to all the exchange Listings they saw during the last crypto Bull market this makes sense but the Thing is that only a few of these meme Coins are in fact easily accessible the Second possibility therefore is that Investors are becoming impatient waiting For the capital rotation out of BTC put Differently they're unsatisfied with the Double- digit percentage returns most of The cryptos in their portfolios have Seen since the start of the year and They want something with a lot more Alpha mem coins offer this Alpha due to Their usually relatively low market caps While their low price tags give the Impression that they could see enormous Gains at least for inexperienced retail Investors the thing is that there don't

Seem to be that many retail investors Involved in these memecoins especially Those on ethereum where Dex trades cost Hundreds of dollars a pop due to high Gas fees this time into the third Possibility and that's that these mcoin Rallies are being orchestrated by crypto Wales there actually seems to be some Onchain evidence of this as well some of You may have seen all of the incidents Of apparent insider trading of mem coins Tracked by onchain sleuths like look Onchain in addition to the obvious Profit incentives it's possible that These crypto whales are purposely Pumping up the prices of memecoins in Order to prop up the smart contract Cryptos thereon the multi-year highs in Fees and trading volumes that some of These chains have seen is circumstantial Evidence of this possibility the Anecdote that comes to mind for us is The second salana phone which sold out Due to the speculation that buyers of The phone will receive mcoin airdrops FYI the Bonk mem coin was aird dropped To Holders of the first salana phone an Airdrop that was at times worth more Than the phone itself whatever the case It's more than likely though that this Mcoin craze will eventually come to a Close and when it does it will end just As quickly as it started all we're Wondering is where all of that Capital

Will go believe it or not but there's Been speculation that Traders will Rotate their mcoin profits into regular Altcoins and at least therefore we would Finally get a proper alt season in that Scenario note that you can can learn how To find promising meme coins using the Link in the description now while we're On the topic of assets that have gone Parabolic nvidia's stock has gone Vertical as a result of the AI hype in Contrast to assets like memecoins Nvidia Actually has some fundamentals in the Form of Revenue its position as Essentially the provider of AI Hardware Means that it's likely to keep making Mad money but what happens when everyone Already has the hardware that they need This is something that people weren't Asking themselves in 2001 when similar Companies were selling internet Hardware In retrospect the bursting of the Internet Hardware bubble made it very Cheap to build out and adopt it's quite Possible that we'll see the same thing Happen with Nvidia and it's possible That the AI Hardware bubble started Bursting last Friday that's because Nvidia crashed by more than 10% before The stock market closed something that's Apparently a bad sign in the stock Trading world what's odd is that there Doesn't seem to have been a clear Catalyst for nvidia's crash our best

Guess is that it has to do with Nvidia Almost hitting a psychological level of $1,000 it's likely that some large Investors decided to take profits just Before those levels causing a crypto Style leverage long Cascade if you don't Understand why this is so significant That's because Nvidia is one of the Handful of stocks that have been driving Stock indices higher these so-called Magnificent 7 stocks had recently Started to Splinter with fewer and fewer Continuing to perform well Nvidia is one Of the last ones now when you combine This with the fact that billionaires Have been selling billions of dollars Worth of stocks it does give the Impression that they know something the Rest of us don't and that a market crash Could be coming and you can learn more About that by watching yesterday's video About it the link will be in the Description but back to Nvidia stock now You can clearly see that it is extremely Overbought a retracement to its closest Zone of support would bring it down by Almost 40% this could have an outsized impact On the rest of the stock market given That Nvidia is currently the third Largest stock by market cap the Cav Though is something we've mentioned in Our recent weekly crypto reviews and That's that most of the flows into stock

Market indices like the S&P 500 are Passive in other words the inflows are Automatic and will continue until There's some Black Swan event that Causes everyone to panic come to think Of it it's possible that BTC is now Subject to the same Dynamic given that The ETFs are slowly but surely finding Their way into different passive funds Note that black rock recently announced Its intention to add its spot Bitcoin ETF to its Global allocation fund Probably nothing anyway with all that Said it's about time we looked at last Week's top performing cryptos so Jessica Take it Away thanks guy last week's top Performing cryptos were Gala games Pepe Floy Shinu and Fetch.ai starting with Gala games it's Gala token appears to have pumped on the News that the project has partnered with Aws's gaming arm and D's gaming arm to Run a gaming Focus hackathon as you can See Galla's price exploded late last Week if you zoom out you'll notice that It is struggling to get above a key Resistance level of around 8.5 in the absence of an additional Catalyst it is likely that Galla will Get rejected let's hope that it gets That second wind next up we have Pepe Which appears to have pumped due to the Ongoing me coin hey Pepe's daily price

Action suggest that it has hit a local Top but it could just as easily be Retracing in preparation for another Move higher as I mentioned last week the One big Catalyst that Pepe seems to be Missing is a coinbase listing which may Or may not come as for flaky it appears To have pumped for the same reason the Ongoing mcoin hype like Pepe Floy Appears to have hit a local top on the Daily but could also be consolidating For another move higher also like Pepe Floy is missing a coinbase listing which Could be the Catalyst for that second Leg up and it's a similar story for Shino whose ship token also appears to Be pumping for the ongoing mcoin hype The difference is that shib is already Listed on coinbase and appears to be Painting a triangle pattern on the daily If shib manages to make a move higher It's possible that the other mem coins Will follow so take note finally we have Fetch.ai whose fcoin appears to have Pumped due to the announcement of fetch Compute a decentralized AI Computing Marketplace fetch.ai also announced that Fet sters will be airdrop new tokens Related to the Project's new product Unfortunately Fat's daily price action Looks very toppy with bearish engulfing Patterns on The Daily given just how a Rively fat has rallied it is possible That the correction could be just as

Severe especially if Nvidia stock Continues to fall is Guy mentioned Earlier I'll quickly note that we did do A deep dive into fetch. AI for our coin Bureau club members you can become a Member using the link in the description And if you want to know which cryptos Are pumping and also where you can trade Them be sure to join the coin Bureau Insider telegram Channel using the link In the description below I'm and that is All for today's coin Bureau weekly Crypto review if you enjoyed it then you Know what to do hit that like button Subscribe button and Bell icon too don't Forget to check out our deals page where We have massive trading fee and Hardware Wallet discounts as well as airdrop Bonuses of up to $50,000 on some of the best exchanges Only for the viewers of this channel Also if you want to pick up some snazzy Crypto merch the coin Bureau merch store Has it all you can find the link to Those resources and many others in the Description below thank you so much for Watching and we'll see you all in next Week's [Music] Episode