Crypto News: Bitcoin, ETH ETF, Circle, Inflation, SUI & 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 [Music] Week history is made the SEC approves 11 Spot Bitcoin ETF applications initially Sending btc's price soaring but where is The parabolic rally that everyone was Expecting Black Rock backs eth the World's largest asset manager pushes for A spot ethereum ETF while JP Morgan Remains skeptical when could the spot Ethereum ETFs be approved Circle plans IPO the second largest stable coin Issuer files the paperwork required for Its stock to list on regular exchanges How this could affect the crypto Market Inflation stays stuck the CPI print Comes in hotter than expected as the PPI Comes in cooler than expected why this Could make or break the markets in the Coming months 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 yes last week the SEC finally Approved all 11 spot Bitcoin ETF Applications in a move that's likely to Change the crypto Market forever in a Subsequent interview SEC chairman Gary Gendler confirmed that it was Grayscale's Court victory that cornered The regulator into approving the

Applications for context grayscale Applied to have its gbtc trust converted Into a spot Bitcoin ETF the SEC rejected The application and grayscale sued Eventually gray scale won and the SEC Decided not to appeal in retrospect These were the two biggest catalysts That fueled the ETF driven crypto Market Rally Anyhow the SEC approved all the spot Bitcoin ETF applications on Wednesday And they all listed on Thursday the spot ETFs then saw an estimated $4.6 billion In trading volume but it's still not Entirely clear what the total inflows And outflows were this is due to the Delays in reporting now based on the Most recent information that we have It's estimated that these ETFs Collectively saw inflows of over $700 Million and for those unfamiliar these Inflows translate to direct buying Pressure for BTC since the asset Managers who operate the ETFs must go And buy the BTC to back the new shares So this begs the question of why btc's Price didn't go higher well the answer Depends on who you ask some would argue That btc's price did go higher relative To its recent levels others would argue That the lack of explosivity to the Upside was because the spot Bitcoin ETFs Had already been priced in from our Perspective we believe it's possible

That btc's modest rally was due to sell Pressure coming from Bitcoin Wales this Is based on onchain data from whale Alert which revealed hundreds of Millions of dollars of BTC flowing onto Exchanges before during and after the Listings assuming this is the case or at Least one of the contributing factors Then it's possible that the spot Bitcoin ETF listings were a sell the news event At least for some the bigger question is What happens now that these ETFs have Finally been approved will the selling Continue or will new buyers come in well The charts suggest that the next week Could be choppy that's because BTC is Trading within a range of between 42 and 44k and could continue to trade in this Range in the absence of any catalysts That would take it higher or lower this Reflects the overall uncertainty that Traders have about BTC now believe it or Not but this could actually be extremely Bullish for the crypto Market that's Because when BTC trades sideways Altcoins tend to Rally as you can see The Bitcoin dominance chart which Measures how much of the total crypto Market cap is just BTC seems to have Painted AE Head and Shoulders this could Foreshadow a period of a few weeks or More where altcoins outperform BTC this would be notably consistent With the bare Market rally of 2019

Wherein BTC also rallied close to All-time highs and then traded sideways For a few weeks while altcoins rallied Eventually there was a huge correction Now if you're planning on trading BTC or Any altcoins then you need to check out The coin Bureau deals page It's got trading fee discounts of up to 60% and sign up bonuses of up to $440,000 on the best crypto exchanges These deals are available for a limited Time only so take advantage of them now The link is in the description now Speaking of alt season the spot Bitcoin ETF approvals have finally turned the Attention to eth that's simply because Ethereum has pending spot ETF Applications of its own this was Something that was discussed by Black Rock CEO Larry Fin and this seems to Have been the Catalyst for the eth rally As you can see eth is looking very Strong on The Daily and could be in the Process of painting a bull flag if it is Then it could take eth as high as 3K in The coming days now this wouldn't be Surprising given that ethereum has a More immediate Catalyst on the menu the Denune test net this Wednesday you can Learn more about denune by watching our Recent ethereum update I digress anyways Things look even more bullish for eth When you value it against BTC as you can See ether's been looking weak against

BTC for months just last week however it Seems to have begun a massive reversal That could take eth much higher against BTC in Practical terms eth will Outperform the Big Daddy crypto this Outperformance could last for weeks or Even months This would make sense given that the Final decision date for the spot Ethereum ETFs is in May and the SEC is Likely to delay until then this is Because Gary gendler has been a pained To point out that the decision for the Spot ethereum ETF is quote less clear Classic SEC now Mega Bank JP Morgan Reportedly thinks there's only a 50/50 Chance that the spot ethereum ETFs will Be approved by may this is a bit Surprising given that grayscale could Take things to court again with its Application to convert its ethe trust Into a spot ethereum ETF it would likely Be an easy win however it's possible That JP Morgan skepticism is Justified For starters there appear to be far Fewer ethereum ETF applications seven Compared to the 11 for the spot Bitcoin ETFs this could reflect the perceived Lack demand for such an instrument or The fact that the sec's approval is Considered less likely remember that the Futures ethereum's ETFs were a flop when They listed anywh who another sign that JP Morgan isn't just spreading fud is

The fact that Gary has not so subtly Referred to eth as a security on many Occasions though he's never clarified His position again classic Sec to refresh your memory Gary said That proof of State cryptos could be Securities on the same day as the Ethereum merge back in September 2022 the SEC subsequently noted staking Yields as one of the reasons why it Considers certain altcoins to be Securities in its lawsuits against Coinbase and binance more about those in The description moving on now here is Where things get interesting when you Look at the reasoning that JP Morgan Itself provided for why the spot Ethereum ETFs may not be approved they Specifically stated that it's because The SEC needs to come out and declare Eth is not a security the same way it Did for BTC it's safe to say that this Isn't going to happen so long as Gary's Around in fact it's quite possible that The SEC is considering doing the Opposite coming out and alleging eth is A security possibly with a lawsuit This would explain why it hasn't Referred to eth as a security in any of Its other related lawsuits and by the Way if you're enjoying the video so far Be sure to smash that like button to Give it a boost on that note I'll Quickly remind you all that the SEC does

In fact think that some stable coins are Securities so going after eth wouldn't Be completely beyond the Realms of Possibility case in point the SEC is Reportedly probing PayPal over its py USD stable coin this is why it's Fascinating that usdc issuer Circle has Filed for an IPO the reason this is Fascinating is because this filing is Sent to the SEC which as you just Learned literally thinks that stable Coins are securities so Circle filing For an IPO therefore suggests that it Truly believes that it can somehow pass The sec's scrutiny now if if this Situation sounds familiar that's because Circle had planned to go public via a Special purpose acquisition company or Spa in 2021 which would have seen Circle Shares essentially swapped out with the Shares of a company that's already Listed it's a sort of loophole to Getting listed on us exchanges and one Which has been heavily criticized and Scrutinized I might add this makes Circle's decision to go the traditional IPO route much more significant In between 90 and 150 days time we'll Know if it's succeeded if it does then Circle could potentially become one of The most valuable companies in the world This requires a bit of explanation so Bear with me governments around the World are massively in debt and many of

Them are issuing new debt in the form of Bonds to pay back the old debt sometimes Just the interest in the case of Countries like the United States it's Reportedly becoming hard harder and Harder to find large buyers for all These newly issued bonds if you watched Our video about stablecoin market caps You'll know that most stable coins in Circulation are actually backed by Government bonds specifically US Government bonds this is because bonds Are very liquid easy to trade in large Amounts and they earn a yield for these Stable coin issuers to put things into Perspective tether's usdt has a market Cap of almost $100 billion given that Most of this usdt is backed by bonds Tether is earning billions of dollars in What is effectively passive income According to its Q2 financials from last Year it had $1 billion in profit after Expenses now obviously this makes stable Coin issuers like tether the kind of Bond buyers that the US government is Looking for the same is true for all Governments for that matter now that Interest rates are in positive territory There's an incentive to make stable Coins for most national currencies if You watched our video about the eu's Upcoming crypto regulations you'll know That the block actually banned US dollar Stable coins this basically forces

Stable coin issuers like Circle to issue More Euro stable coins which in turn Means that the EU governments can fund Their massive debts the irony in all of This is that it's us the crypto holders Who are ultimately subsidizing this Spending by buying stable coins now once Governments realize just how much stable Coins can subsidize their spending it's Likely that we'll see stablecoin Payments become permitted and even Promoted the result would be that the Average person could end up unknowingly Subsidizing their government spending Via the stable coins they're using for For day-to-day payments and since circle Is more heavily regulated than tether It's likely that it will be given Preference in this stable coin Race by The powers that be and this is why Circle could become one of the world's Most valuable companies it will be the One issuing all these stable coins and Making passive income off their reserves Which are by the way managed by Black Rock This Could set the stage for a Global synthetic C DC system that the World economic Forum has been talking About more about that in the description Too anyhow on the topic of interest Rates some of you will know that Inflation figures have a huge influence On them that's because inflation figures Influence how central banks will react

With higher inflation meaning higher Interest rates and vice versa investers Price this information in immediately That's why the higher than expected Ed Us CPI for December caused interest Rates to spike last week they also Caused the US dollar to spike because Higher interest rates result in a Stronger dollar less than 24 hours later However interest rates and the US dollar Experienced a sharp decline this was Presumably because the PPI for December Was released the following day and it Came in lower than expected now for Those unfamiliar the producer price Index or PPI measures inflation for Producers think manufacturers and such It's generally believed that PPI leads The CPI by a few months it stands to Reason then that investors saw a lower Than expected PPI as a sign that the Higher than expected CPI from the day Before probably won't become a new trend This though fundamentally depends on Inflation in the shelter component of The CPI which is keeping it above the Fed's 2% Target anyway technicalities Aside the key takeaway is that inflation Still appears to be coming down this Means that the Federal Reserve is still Likely to lower interest rates which Means that borrowing is still likely to Become easier and as borrowing picks up We'll start to see the economy and the

Stock market start to grow again this is All being priced in by investors already Which which is why these inflation Prints are so pivotal they inform the Fed's decisions at their next meetings At the end of January and particularly In March when the First Rate cut is Expected to occur and the FED will Provide updated rate cut forecasts so Long as the CPI and PPI continue to come In lower the markets should continue to Rally particularly small cap stocks and Altcoins however if we start to see Significant weakness in employment Related data this could signal an Upcoming recession which could have a Drag on risk assets then again risk Assets could rally on the prospect of a Recession as it would mean more Stimulus this just underscores the fact That the markets have become completely Decoupled from the fundamentals of the Economy fortunately or maybe Unfortunately many macro analysts Believe that the fundamentals will come Back to the four this year specifically In the spring that's because publicly Traded companies will reportedly need to Refinance over $100 billion doar worth Of debt in the coming months with much Of this debt coming due in the spring as Pointed out by former fed Insider Danielle de Martino Booth this Refinancing has historically happened

After the FED cut rates this time around However this refinancing could come Before the Fed rate cut and this could Put it behind the curve on the upcoming Economic slowdown the same way it was Behind the curve on inflation seeing as The FED is fearful of a second wave of Inflation it may not rush to cut at all Now the Silver Lining is that any Turbulence in the markets would present Another buying opportunity for those who Feel they missed out on the rally we've Seen so far as is often the case though The urge to buy isn't as strong when the Markets are bleeding red I guess nobody Likes discounts anyway with all that Said it's about time we looked at last Week's top performing cryptos Jessica Take it Away thanks Guy well last week's top Performing cryptos were ethereum name Service suie ethereum classic Bonk and Helium starting with ethereum name Service its ens token appears to have Pumped because ethereum creative italic Boin praise the project noting that it Is and I quote super important so FYI The ethereum name service allows you to Purchase human readable names for your Ethereum wallet now as you can see 's Rally has been nothing short of Parabolic while it faces quite a bit of Resistance around these levels it could Break above them if we see the altcoin

Season that guy was talking about Earlier if it does then ens could Eventually see some significant gains From its currently overextended level s Next up we have sui whose sui coin Appears to have pumped due to a surge in Defi activity on the so-called salana Killers blockchain the total value lot On sui has surged past 300 million in Just the last few days driven primarily By lending borrowing and trading Protocols now as you can see sui is Trading close to the price that it Listed at on most exchanges when it Launched early last year if it keeps Rallying then it could set new all-time Highs in the coming days note that we do Have a sewer review here on the channel If you want to learn more about this Crypto project now as for ethereum Classic it's Etc coin rallied for Unspecified reasons the fact that almost 50% of its traded volume is currently Coming from South Korean crypto Exchanges suggests that it's related to A bout of ethereum filmo steming from The region now as you can see although Etc is breaking out to the upside it Faces a a lot of resistance on the way Up even so it could rally by as much as 50% in the coming weeks due to Speculation around the spot ethereum ETF It could theoretically open up the door For an Etc ETF as well if there is

Interest for it now when it comes to Bonk its Bonk token appears to have Pumped due to the launch of scooper a Dap that will automatically convert all Unwanted assets in your salana wallet Into Bonk This is similar to the function that you Have on most exchanges to convert dust Into exchange tokens so it seems that Quite a bit of poop was indeed scooped Because Bon has rallied sharply in Recent days now zooming out reveals that The meme coin could have further to run Though it's impossible to know for sure Mem coins are extremely volatile as I'm Sure most of you would have noticed Finally we have helium whose h&t token Appears to have pumped due to the Ongoing High around decentralized Physical infrastructure or deep in a Fairly new crypto Niche many believe That helium is the top defin project due To its partnership with T-Mobile D on That one now as you can see h&t looks Eerily similar to Bon and by that I mean That it looks like it could go much Higher and in this case there's enough Of a narrative to make it happen h&t Could have a sizable rally in the coming Days days as a result with the next zone Of resistance being up to $1 And12 so if you want to keep track of The top performing cryptos and also Where you can trade them check out the

Coin Bureau Insider telegram channel the Link will be 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 want to pick up some snazzy Crypto merch the coin buau 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 and we'll see you in next Week's [Music] Episode


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