Crypto News: Bitcoin Break Out, ETH, Circle, NVIDIA, WLD & MORE!!

Welcome to the coin Bureau Weekly News Rounder my name is Jessica and my name Is guy here are the top stories in Crypto this Week Bitcoin breakout BDC chops around 52k while key indicators suggest that a Big move is imminent when will BTC pump Or dump ethereum in Focus institutions Turn their attention to eth as some warn Of the centralization risk its upcoming ETFs could cause what does this mean for Eth Circle ditches Tron the usdc issuer Announces it will cease minting its Stable coin on one of the most popular Stable coin blockchains why this could Have a profound impact on the crypto Market all in Nvidia the popular AI Stock goes parabolic after its latest Earnings sending stock market indices to New all-time highs how much higher could The markets go and a post a 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 tried and failed to Break out of the 52k range that it's Been trading within for almost 2 weeks Btc's static price action has likely Been due to a combination of consistent Inflows from the spot Bitcoin ETFs and Steady sell pressure from BTC Wales Bitcoin Miners and bankrupt crypto Entities BTC static price action could Also be partially due to an ongoing

Court case around Satoshi nakamoto's Identity in case you missed the news This court case is beginning to produce Never-before seen emails and information About bitcoin's Creator and this could Be creating uncertainty for some BTC Holders as a fun fact when crypto Exchange coinbase filed to list its Stock on exchanges back in 2021 it noted That satoshi's identity being revealed Was one of of the potential risk factors To its business this highlights the Possibility that the production of new Information as part of this court case Has some investors on edge in any case If you're subscribed to our Weekly Newsletter you'll know that there are Also emerging macro factors which could Unexpectedly upset the crypto Market in The next couple of weeks so be sure to Subscribe to our newsletter to get our Market forecasts using the link in the Description now assuming these macro Factors don't materialize this week then It's quite possible that BTC will Continue to trade sideways this Fundamentally depends on the supply and Demand Dynamics which are difficult to Predict but will consist of continued Buying pressure with decreasing selling Pressure what's interesting is that BTC Saw its first red week in over a month Last week this is interesting because it Foreshadows two scenarios from a

Technical perspective the first is a Shooting star pattern which often occurs After a large uptrend and could signal a Substantial reversal I.E a crash however Last week's price action could just as Easily have been the consolidation we See before a bull flag pattern which Could take BTC as high as 62k combine This with the short squeeze we're likely To see on the way up and BTC could very Well touch new all-time highs in the Near future it's important to note Though that this would be unprecedented From a cycle perspective where in BTC Always hit a new all-time high after the Harving which isn't scheduled until April This would run the risk of Something called a left translated cycle With a short bull market followed by a Prolonged bare Market regardless if You're tempted to trade what could be an Explosive move to the upside then check Out 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 are Only available to our viewers and will Only be around for a limited time time So take advantage of them ASAP using the Link in the Description now another cryptocurrency That could see explosive growth is none Other than eth if you've been keeping up With our weekly crypto reviews you'll

Know we've been watching eth very Closely recently that's because BTC Pumps are often followed by eth pumps so Far eth has been lagging however it Appears that we're finally starting to Get some more concrete signs that eth is Catching up and at least from a Technical perspective for starters the Eth BTC pair has flipped back above the Ballinger band moving average on the Weekly and could be on the brink of a Big squeeze to the upside meanwhile on The Daily eth's price appears to be Painting a bull flag against Fiat pairs Like Usdt if it plays out then eth could rise As high as $3,300 in the coming weeks Again short squeezes could temporarily Take eth much higher but don't expect New all-time highs anytime soon for what It's worth eth managed to hit a key Psychological level of 3K for the first Time since April 2022 as far as we can Tell this recent rally was caused by two Factors the first factor is fundamental And that's all the onchain activity Around defi specifically reaking and Liquid reaking the second factor is more Speculative and of course that's the Upcoming denune upgrade which is Scheduled for the Third 13th of March it Is likely that eth will continue to Rally until then and it's even more Likely that ethereum's layer 2os will

Outperform given that the upgrade will Affect them the most at the same time Multiple reports are coming out saying That institutional investors are Starting to turn their focus to eth with Crypt broker Bernstein pointing out that Eth's supply and demand Dynamics will Give it a boost relative to BTC once the Spot ethereum ETFs are approved other Institutional investors however are not So convinced a recent note by S&P Global Underscored the fact that the spot Ethereum ETFs would likely result in a Concentration of eth Supply which if Stak could potentially threaten the Ethereum blockchain given that it's Proof of stake this is something we Touched on in a recent Q&A which I'll Leave link to in the description the S&P Note also pointed out that eth's stake Is already fairly concentrated with Liquid staking protocol Lio Finance Holding almost a third of all staked eth It even pointed to something called the Naoto coefficient which is meant to Measure decentralization ethereum Doesn't rank very well if you watched Our video about crypto decentralization Though you'll know that it means more Than just how many validators you have Or how that stake is concentrated there Are other layers of centralization which If considered basically make every Crypto centralized except Bitcoin the

Silver lining in ethereum's case is that It's a crypto project that has proven That it has the capacity to adjust its Protocol Rules For Better or For Worse Many developers including ethereum Creator vital buaran are already working On solutions to ethereum's obvious Centralization Issues speaking of centralization circle Has announced that it will stop issuing Its usdc stable coin on Tron for context Tron has recently been the subject of Some very bad press there have been Numerous accusations that its blockchain Has been a favorite among shall we say The kinds of people you don't ever want To meet Circle itself has also recently Come under scrutiny from an advocacy Group based in the US who essentially Alleged that the stable coin issuer was Allowing some of these illicit Activities to happen using usdc and that Circle itself had Tron founder Justin Sun as one of its clients naturally Circle denied these allegations but did Reveal that Justin had been a client of Theirs until as recently as February 2023 for reference Justin reportedly Withdrew 1.2 billion usdc from arve in October 2021 logically this suggests that Justin Was and could still be one of the Largest holders of usdc whatever the Case the reason why this is so

Significant is because it apparently Marks the first time that a major stable Coin issuer has ceased support for a Popular blockchain for what are likely Regulatory reasons this is a watershed Moment that most of the crypto industry Doesn't seem to fully understand put Simply it sets the stage for other Centralized stable coins to be pulled Off of Tron and potentially other Problematic blockchains in the future Coin Telegraph actually reached out to Usdt issuer tether to ask if it would Also be ceasing support for Tether did not provide a concrete answer And this is also extremely significant For those who don't know more than half Of the usdt in circulation exists on Tron if tether were to cease minting Usdt on Tron it could cause unforeseen Issues consider also that Tron has a US Type stable coin called us DD which is Collateralized by billions in TRX and BTC now to be clear us DC is still Available on Tron it just can't be Minted there anymore circle's Announcement specified that transfers And redemptions of usdc on Tron will Still be available until February 2025 what happens after that is anyone's Guess but it's likely that all usdc Support on Tron will cease but back to That point I made a few moments ago this Move not only sets a precedent for other

Stablecoin issuers to stop supporting Tron but but also that stable coin Issuers could be pressured to stop Supporting other blockchains that Regulators don't like or rather Blockchains they can't control now this Is terrifying and it's directly related To the video we did over the weekend About how trafi is eating crypto and not The other way around so long as the Crypto industry continues to rely on Centralized stable coins it will Continue to Trend towards cbdc levels of Financial short centralization with a Bit of luck the recent Announcement by Circle will inspire developers to build Truly decentralized Alternatives because It seems we're going to need them sooner Rather than later in case it wasn't Clear enough most decentralized stable Coins are actually centralized consider That D for instance is backed by us Bonds on that note the S&P 500 and the NASDAQ both hit yet another all-time High late last week You'll recall that this was caused by Nvidia's earnings for Q4 of last year Which came in above Expectations the result was Nvidia stock And AI cryptos going vertical and major Stock indices hitting those new alltime Highs I'll quickly note that we Predicted that Nvidia would surprise to The upside in our last Weekly Newsletter

So don't forget to sign up using the Link in the description I Digress here is where things get Fascinating If you zoom out on Nvidia to the monthly Chart you'll notice that it's literally Gone vertical Common Sense would tell You that it can't possibly go higher but As most of you will know we're not Living in a world of Common Sense we're Living in a clown World in all Seriousness most of the stock market's Price action is driven by passive flows From Pension funds and such these Passive flows will automatically buy Indices like the S&P 500 because these Indices are weighed by market cap Nvidia Being the fourth largest means that it Gets a good chunk of these Flows In Other words Nvidia could very well Continue to Rally just because of the Way the markets are structured Eventually nvidia's impossible price Action will cause regular investors to Fomo in taking its stock even higher now Some would argue that we're already There but it depends on which data you Look at for instance there's over six Trillion dollars sitting in Money Market Funds which can be simply understood as Trafy stable coins that earn a yield Some have argued that we can't call a Market top until we see this idle Capital start flowing into the markets

In a big way and they could be right now Although nvidia's stock appears to be Close to a potential cycle top the S&P 500 and NASDAQ still have room to run From a technical perspective as you can See the S&P 500 appears to have painted A massive cup and handle pattern which Could take it up to 5,800 points or even Higher similarly the NASDAQ also appears To have painted a massive cup and handle Pattern which could take it up to 20,000 Points or even higher while this seems Impossible given the circumstances I'll Reiterate that there are constant Passive flows propping up the market and Trillions sitting on the sidelines so This begs the question of what it all Means for crypto to well the short Answer is that the crypto Market could Go much higher from here and could very Well see that left translated cycle I Talked about earlier to put things into Perspective BTC is roughly 2x as Volatile as the NASDAQ if we assume that The correlation between BTC and the Stock markets has increased or will Increase as a result of the spot Bitcoin ETFs which seems likely then a roughly 35% rally in the S&P would translate to A BT BC rally of roughly 70% which would Translate to a BTC price of around 80k a New all-time high and that reminds me It's about time we looked at last week's Top performing cryptos so Jessica take

It Away thanks Guy well last week's top Performing cryptos were jasm coin Singularity net worldcoin Unis Swap and Filecoin starting with jasmi coin we Couldn't figure out what caused it jasmi Token to pump our best guess is that it Was somehow related to the recent AI Craze but we couldn't find any evidence Of this to be fair the jasm coin website Is in Japanese so if anyone knows why Jasm coin pumped let us know down below Anyways as you can see jasmi's recent Pump was nothing short of parabolic the Catch is that it appears to face Significant resistance between here and 4 cents it's probably going to take a Lot of buying pressure to bring it up to That next resistance Zone zone of around 7 CS next up we have Singularity net Whose agx token appears to have pered as A result of the recent AI craze which Was caused by a combination of Nvidia Earnings and the release of the new Prompt-based video creator called sora Released by open aai last week truly Some Next Level Tech now as you can see AG's price action has also been Next Level so much so that it hit a new All-time high in terms of both price and Market cap looking at just the market Cap suggests that agx could be overboard But could be painting a double botton Pattern which could cause its price to

Well double when it comes to World Coin's wld token the cause of the pump Is easy to identify once you remember That the controversial crypto project Was co-founded by open AI CEO Sam Altman The fact that many Traders are treating Wld as a proxy investment into open aai Which is is Up For Debate anyhow like AG Wld hit a new all-time high the Difference is that it's much harder to Get a sense of how much higher it could Go it's possible that it already hit a Local top already which would make sense Given that the Catalyst was the open AI Announcement it's a different story for UNIS swaps uni token which pumped for Much more fundamental reasons in short The Unis swap Community had tabled a Proposal that would see a portion of Protocol fees distributed to UNI stakers This is significant as Unis swap Collects more fees than any other DB Unfortunately uni faces a lot of Resistance on the way up fortunately Though the governance proposal actually Hasn't been tabled yet much less past This W happen until the 8th of March and Sets a stage for another catalis that Could take uni to the next resistance Level of around $16 and finally we have have filecoin Whose fill coin likewise appears to have Pumped for AI related reasons we say This because decentralized storage

Cryptos have had the tendency to pump During AI crazes this is presumably Because AI is all about data and that's What these decentralized storage cryptos Store in contrast to the other Decentralized storage cryptos Phil's Recent pump barely shows up on its Long-term price chart and Phil faces a Lot of resistance on the way up if it Can get decisively above $9 though the Next resistance level is way up at Around $18 a potential 2x gain and if You want to know which cryptos are Pumping but also where you can trade Them be sure to check out the coin Bureau Insider telegram channel the link Will be down in the description Below 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 $50,000 on some of the best exchanges Only for the viewers of this Channel and If you want the chance to win a trip to Dubai to meet us and the rest of the Coin Bureau team visit token 2049 and Much more besides you still have a Couple of days left to enter the draw by Signing up to the coin Bureau Club you Can find the link for that in the Description below thank you so much for

Watching and we'll see you all in next Week's Episode