Crypto News: Altcoin Rally, BTC, ETH ETF, Stablecoins & MORE!!

Welcome to the coin Bureau Weekly News Roundup my name is guy and my name is Jessica here are the top stories in Crypto this Week Moment of Truth Bitcoin trades Sideways as altcoins rally and investors Anxiously await an imminent breakout to The upside or the downside where are Prices headed next eth rotation imminent Futures data suggests that Traders are Beginning to get bullish on E while pro Shares list a short ethereum Futures ETF What does this mean for E important Stable coin updates usdt Supply hits a New all-time high Circle closes the door To retail usdc redemptions and PayPal Faces an SEC probe over py USD how could This affect the crypto Market risk on Rally stocks explode after the FED keeps Interest rates unchanged for a second Time in a row foreshadowing rate cuts on The horizon everything you need to know 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 traded almost Perfectly sideways in the 34 to 35k Range The Only Exception was Wednesday When BTC basically touched 36k a move That turned out to be a false breakout To the upside the Catalyst for this fake Out seems to have been the FED but we'll Come back to that later now it appears

That btc's relatively static price Action caused a small but significant Rotation into altcoins this makes sense Considering that when BTC gets boring Investors go further down the risk curve Looking for bigger gains this typically Begins with a rotation into eth but this Time was different this time investors Began by rotating into speculative Cryptos like memecoins before rotating Into layer one cryptos with actual Fundamentals what's interesting is that The cryptos that pumped the most were All layer ones that had experienced Excessive fud such as salana we'll come Back to those later too anyways the Rotation into altcoins had two effects First it resulted in a sharp decline in Bitcoin dominance the percentage of the Total crypto market cap that's just BTC If Bitcoin dominance continues to Decline then altcoins will continue to Rally and this ties into the second Effect the recent altcoin rally had and That's that it caused crypto's total Market cap to push above 1.3 trillion Putting the entire crypto Market on the Cusp of a big breakout to the upside Logically a continu uation of the Current altcoin rally could confirm this Breakout there's just one caveat however And that's that the continuation of the Crypto rally depends on what BTC does if Btc's price stays roughly where it is or

Goes slightly higher then altcoins will Likely continue to rally for context Btc's price has been bouncing between 34 And 35k since late October if BTC exper Expences an explosive rally due to say The approval of a spot Bitcoin ETF then It's likely that altcoins will see Losses in the short term that's because Traders will likely rotate out of Altcoins and back into BTC to make the Most of the rally the exceptions would Probably be BTC related alts like stacks And of course if BTC experiences a Correction or a crash then the altcoin Rally will likely come to a screeching Halt as it so happens btc's daily chart Reveals a Divergence between price and The RSI suggesting that the buying Volume isn't there to support these Price levels this is not surprising Considering that btc's recent rally was Explosive it took place over a Relatively short period of time Typically these kinds of rallies are Followed by corrections but we haven't Seen a real correction in btc's price Yet it's believed that BTC still needs To retest 31k for a full breakout now if You want to trade either of these Possibilities check out the coin Bureau Deals page it's got trading fee Discounts of up to 60% and up to $40,000 In bonuses on the best crypto exchanges This is a deal that's only available to

Viewers for a limited time so take Advantage while you can link is in the Description now BTC could easily Continue to trade sideways for another Week while altcoins continue to rally And it seems that investors are finally Starting to rotate into eth this can be Clearly seen on the eth BTC chart where Eth is experiencing its first sustained Rally against BTC since September in Theat terms eth is currently on the Brink of breaching $1900 and it's Possible that it's well above that by The time you see this video as we Mentioned in last week's crypto review a Rotation into eth could result in a BTC Style breakout which would translate Into an eth price of up to 2.4k a 20% Gain if this is what we see over the Next week then it will likely Mark the Official start of a new crypto bull Market this is in part because it would Confirm broad participation from all Coins and tokens and in part because it Would confirm a clean breakout above That $1.3 trillion total market cap I Mentioned earlier if you're wondering Why eth's participation in this rally is So important the answer is because a Gain in eth's price will likely result In a rotation into other tokens in its Ecosystem and because most of crypto's Ecosystem currently exists on ethereum An eth rally would lift all boats so to

Speak it seems that institutional Investors can see this too because pre Premiums on BTC and eth Futures on the CME are trading at par according to k33 Research for reference the CME is used Primarily by institutional investors and Premiums show you how much demand there Is for certain Futures products the fact That BTC and eth Futures premiums are Trading at par suggests that Institutional investors are at least as Bullish on eth as they are on BTC at Least at this point in time what's funny Is that k33 announced that it was time To rotate out of eth and into BTC just a Couple of weeks ago on that note another Crypto company that's been keeping track Of institutional flows is coin shares Now coin shares has reported consistent Inflows out of eth products but recently Conducted a survey which found that fund Managers believe that eth has quote the Most compelling growth Outlook right now That's why its surprising asset manager Proch shares decided to list its short Ethereum Futures ETF late last week some Would say this is a sign that Institutional investors want to short Eth indeed PR shares probably wouldn't Have filed for a short ethereum Futures ETF if there wasn't demand for it on the Flip side however it seems that Institutional investors have a habit of Falling prey to price action just as

Much as retail investors do put simply Institutions wanted to short eth at the Same time everyone else did by the time Pro shares got the ETF approved eth had Started to rally and that's the markets For you anyhow the only thing that has Us concerned about eth at this point is Its continued weakness against BTC as Promising as the recent rally has been Eth is going to need a lot more green Before it invalidates that bearish Breakdown against BTC on the longer term Time frame watch this closely and and if You're enjoying this video so far be Sure to smash that like button to help Others find it on that note another Thing you should be keeping an eye on is The stablecoin market cap if you watched Our video about stablecoin market caps You'll know that's because changes in Them tell you what investors are doing Namely whether there's money moving in Or out of the crypto Market as you may Have heard the market cap of tether's Usdt recently hit an all-time high of Over 85 Billion for those unfamiliar the primary Demand driver for usdt is trading Specifically leveraged trading as such An increase in usd's market cap suggests There's been an increase in demand for Leverage this is expected given how much The crypto Market rallied recently and What's fascinating is that we saw a

Similar phenomenon during the crypto Bare Market in 2019 as you can see usdt s a blowoff top In 2018 before collapsing by the spring Of 2019 usd's market cap had hit a new Alltime high compare that to the most Recent cycle where usd's market cap saw A blowoff top in 2022 before collapsing And is now starting to hit new all-time Highs the catch is that a new all-time High for usd's market cap doesn't Translate to an instant rally in crypto History suggests a lag of up to one year Not only that but there's another Dimension to the stable coin equation This time around another stable coin Circles Usdc while usd's market cap has been Hitting new all-time highs USD C's has Continued to decline in theory this Isn't a problem since usdc primary Demand driver is Define in practice However USC's market cap appears to have A closer correlation to crypto prices it Only skyrocketed when crypto prices Started to Rally in mid to late 2020 Compare this to usdt whose market cap Had been rising for almost a year prior Usdc declining market cap could be a Cause for concern although it's Apparently not a cause for concern for The markets it's certainly a cause for Concern for Circle and coinbase both of Whom earn hundreds of millions of

Dollars on usdc reserves FYI usdc and Other stable coins are backed primarily By US Government debt which has been Offering high yields this is likely why Coinbase launched an offshore Futures Exchange with trading pairs against usdc Naturally this would create a new demand Driver for usdc that's unrelated to defi A demand driver that has resulted in $85 Billion of usdt reserves that are Earning tether a pretty penny it's also Probably why Circle announced that it Would no longer allow its retail users To Mint and redeem stable coins the Thing is that retail users probably Aren't the ones with drawing hundreds of Millions of dollars of usdc for USD this is why some are speculating That the real reason could be regulatory This speculation seems to have some Validity given that the SEC still seems To believe that stable coins are Securities in case you haven't heard the SEC is reportedly investigating PayPal Over its py USD stable coin there's Speculation that this could be because PayPal wants to expand it to other Platforms like venmo however it's just As possible that this is because PayPal Is using paxos to issue PUSD in case you forgot Regulators Ordered paxos to stop issuing the Binance Branded bu USD stable coin Earlier this year it's safe to say that

Py USD is conceptually similar to buusd D which opens the door to similar Enforcement note that you can learn more About PayPal stable coin using the link In the description anywh who it seems That the correlation between stocks and Crypto is starting to return that's Because the stock market finally Experienced a recovery rally last week As I mentioned earlier this recovery Rally was in large part due to the fed's Decision not to raise interest rates for The second time time in a row this begs The question of whether the FED has Officially paused the answer seems to be Yes now this is partially because Investors are currently pricing in a Pause for the next few meetings it's Also partially because the FED has made It clear that long-term interest rates Have been doing the heavy lifting this Is a bit odd considering that long-term Interest rates fell after the FED made These comments if you look closely Though you'll notice that the long-term Interest rates fell a bit before this Was probably because the treasury Department announced that it would issue Less long-term debt than expected to Clarify short-term interest rates are Influenced by the FED whereas long-term Interest rates are influenced by the Free market the price of US bonds is Ultimately what determines the long-term

Interest rate and the price of US bonds Is determined by basic economics supply And demand the treasury de decision to Issue less long-term debt therefore Resulted in a bond rally but there could Still be more to the story here now the Elephant in the room is the conflict in The Middle East which hasn't yet Escalated despite many close calls this Has almost certainly contributed to the Stock market rally at first glance the Decline in bond yields could be a sign Of a flight to safety among investors Who are concerned about an escalation in The Middle East a on closer inspection However no escalation means less US Government spending on the military that Means less us Bond selling which is Bullish for bonds that's Macro for you But anyway back to the FED now if the FED has paused and they likely have then This is more bullish than you might Think that's because the FED has Historically only managed to pause for About 5 and a half months before being Forced to lower interest rates in in Response to an economic crisis or the Financial system breaking if you count The last two skips as being part of the Pors this means there's only around 3 Months left before the FED is forced to Cut this would put the first Cuts Sometime in January conversely if you Start counting from the most recent

Meeting that means that the FED could Start cutting in the spring this would Be extremely bullish for risk assets Such as crypto that's because it would Forecast more rate cuts to come if the FED does indeed start cutting in the Spring then it could coincide with the Listing of a spot Bitcoin ETF assuming The SEC decides to delay the Applications until the last minute and Of course there's the Bitcoin Haring to Keep in mind too there's just one other Thing to keep in mind and that's that The FED only ever starts cutting when Something has gone horribly wrong in Practical terms that means that a Fed Cut will only happen when the markets Are in freefall look no further than the Pandemic flash crash for evidence of That speaking of which if the pandemic Flash crash is anything to go by then Emergency cuts by the FED would probably Be met with a muted response from the Crypto Market at the outset it would Likely take a few months for liquidity To really kick in if the government Responds with fiscal stimulus again well Get ready to Rally now with all that Said it's about time we looked at last Week's top performing cryptos so take it Away Jessica thanks Guy well last week's top Performing cryptos were pancake swap Multiverse X Neo thorchain and a mutable

X starting with pancake swap its cake Token appears to have pumped on the news That the deck will be undergoing a Significant upgrade later this month Pancake swap also partnered with another D5 protocol called brill to bring Onchain portfolio management to its Users cake appear to be squeezing to the Upside on the weekly chart but faces Lots of resistance around $2 to $3 it's Also still well below the Ballinger band Moving average on the monthly now this Will make sense considering that cake Has an aggressive inflation schedule Think constant sell pressure next up we Have Multiverse X whose egld coin Appears to have pumped due to South Korean investors aping into the altcoin To put things into perspective over 60% Of EG's traded volume over the weekend Came from upbit a South Korean crypto Exchange in similar fashion to cake egld Appears to be squeezing into the upside On the weekly chart but appears to have Been rejected by the Ballinger band Moving average on the monthly egld also Faces significant resistance around These levels specifically between 4 $4 And $50 as for Neo it's neoc coin appears to Have pumped on the news that the crypto Project will be introducing an evm Compatible side chain neon founder dah Hong noted that the test net will launch

By the end of the year it's safe to Assume that any upgrades along the way Will be bullish for Neo believe it or Not but Neo is looking extremely bullish Across all time frames the most Important time frame is the monthly Where appears to have closed above the Balling ja band moving average if it can Keep up this momentum in November it Could squeeze to the upside and continue To Rally when it comes to thorchain its Rune coin appears to be pumping since The cross chain decks relaunched in Early October recent posts on Thor Chain's Twitter revealed the Dex is Offering yields of up to 440 on stablecoin liquidity providers Not Financial advice but be careful with Such high yields now in similar fashion To Neo run is above the bond ja band Moving average on the monthly and could Be on the brink of squeezing to the Upside to be honest this is one of the Most bullish charts we've seen for any Altcoin in recent memory but it is Unclear why run has been pumping so hard In any case the last crypto on the list Is a mutable X whose IMX token has been Rallying ever since the crypto project Announced a I quote collaboration with Amazon web services in early October unfortunately for IMX it's not Looking too hot on the charts it faces Lots of resistance around the $1 Mark

And is on the brink of being rejected by The bonab band moving average on the Monthly with some luck the weekly Squeeze to the upside will continue and We'll see a break above resistance by December now if you want to know why Cryptos are rallying and also where you Can trade them you be sure sure to check Out the coin Bureau telegram channel the Link will be down in the Description and that's 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 Discounts and airdrop bonuses of up to $40,000 on some of the best exchanges Only for the viewers of this channel Also if you do want to pick up some Snazzy crypto merch the coin bu merch Store has it all you can find the link To that resource and many others in the Description below thank you so much for Watching we'll see you all next Time