Crypto News: Bitcoin, ETH ETF Delay, SEC, Binance & MORE!!

Welcome to the coin Bureau Weekly News Roundup my name is guide and my name is Jessica here are the top stories in Crypto this Week pump or dump BTC prepares for a Massive move after recovering from a Recent dip what Catalyst will determine Its next Direction ethereum ETF delayed The SEC kicks the can down the road as The denune up grad's launch date comes Into view when will eth finally explode SEC versus binance the world's largest Cryptocurrency exchange continues to Wrestle with the anti- crypto regulator While its former CEO awaits his Sentencing date how this could impact The crypto Market China's economy Implodes Hong Kong's stock index hits a Multi-year low the pboc steps in to Defend the uan And the CCP considers a multi-trillion Dollar bailout 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 reclaimed The key level of 42k after having fallen To 39K it's not entirely clear what Caused the rally but it was driven Primarily by hundreds of millions of Dollars of short liquidation This makes sense given that many Traders Were short as they were expecting BTC to Fall to around 36k from

39K from a more fundamental perspective The outflows from grayscale spot Bitcoin ETF have slowed down at least according To JP Morgan the Practical effect of This is less sell pressure which was Offsetting most of the buying pressure Coming from inflows into the other spot ETFs to put things into perspective Grayscale spot Bitcoin ETF experienced Over $4 billion of outflows while the Other spot ETFs experiened just over $5 Billion of inflows the result was less Than $1 billion of buying pressure which Was likely offset by BTC Wales taking Profits in both the spot and Futures Markets with gray scale's outflows now In the rearview mirror so it seems it's Likely that the inflows into the other Spot ETFs will have a positive impact on Price in the coming days of course this Assumes that we will continue to see the Same degree of inflows this seems likely Given that new players continue to enter Don't take my word for it though Financial firm Franklin Templeton Recently revealed that the spot Bitcoin ETFs will become more popular as Investment advisers become more familiar With them obviously this this isn't Going to happen all at once it will be a Slow trickle of new entrance each week This foreshadows a scenario where BTC Continues to trade around the low to mid 40K range something that's supported by

The charts on The Daily BTC is sitting Right on top of the Ballinger band Moving average which could mean that It's about to get rejected or break Above it if you're subscribed to our Weekly Newsletter you'll know that we Believe there's a good chance BC will Break Above This average due to various Factors namely the fed and the US Treasury so be sure to subscribe to our Weekly Newsletter if you haven't already It has forward guidance that you can't Miss link is in the description but back To those BTC charts now if you zoom out To the weekly you can clearly see that BTC has already been consolidating Around the low to mid 40K range for more Than a month This is eerily similar to what BTC did During the 2019 bare Market rally where Its price likewise traded sideways while Many alts rallied now if you want to Maximize your profits on the altcoin Rallies we could see this time around Then be sure 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 50 Grand on the best Crypto exchanges these deals are Exclusively for the viewers of this Channel and only available for a limited Time so do take advantage of them using The link in the description ASAP now Speaking of altcoins the one that

Everyone has been watching is eth Besides the fact that it's the second Largest crypto by market cap the fact That it has its own pending spot ETF Applications has led to speculation that It will eventually see the same Explosive growth that be BTC has with The exception of the sudden rally Earlier this month however eth has Continued to underperform against BTC as Well as against many other altcoins this Can be clearly seen on eth's daily chart Which reveals that it has basically been Chopping between 2.2 and 2.4k since the Start of December almost 2 months it's a Similar story for the eth BTC chart Which as I'm sure you all know measures Eth's value against BTC as you can see The eth BTC chart is likewise retesting A key moving average that eth has been Oscillating around since last October That's almost 4 months if you watched Our most recent ethereum update you'll Know that the main reason why eth was Underperforming late last year was Because all the focus was around BTC and Select Altcoins it appears that its recent mean Reverting volatility has its roots in The uncertainty around ethereum's own ETF applications as some of you may have Heard the SEC recently delayed black Rock's spot ethereum ETF application Until March and also delayed grayscale's

Application to convert its e trust into An ETF I'll remind you that grayscale Took the SEC to court and one when the Regulator rejected grayscale's gbtc Trust conversion application Now according to Bloomberg ETF analyst James saart it's likely that the SEC Will continue to delay all these Applications until the final decision Date which is in late May what strange Is that the consensus is less strong About spot ethereum ETFs being approved Despite them being practically identical To the spot Bitcoin ETFs in any case the Good news is that the spot ethereum ETF Isn't the only Catalyst in play for the Second largest crypto another catalyst Is the upcoming denune upgrade which Will make ethereum's layer 2s Exponentially cheaper and faster denune Recently launched on testet with a few Hiccups so this begs the question of When denune will launch on mainnet well Assuming no additional hiccups on other Test Nets the answer seems to be by the End of February Per a recent blog post By the ethereum Foundation now it goes without saying That this will be bullish for eth but it Could be even more bullish for its layer Twos the real question though is what Effect the denune upgrade will have on Other layer ones that Leverage The evm For context these so-called ethereum

Killers were being used as de facto Layer 2os during the last crypto bull Market this was likely because Ethereum's layer 2 ecosystem was still In development today however ethereum's Layer 2 ecosystem is exploding to the Point that it's overtaking ethereum Itself on key metrics like daily active Wallets and such the only Edge that These evm compatible layer ones seem to Have was speed and cost and as I just Mentioned denune will make layer 2os Faster and cheaper now we'll be doing a Deep dive into what the denune upgrade Could mean for eth and its layer 2os Very soon so be sure to subscribe be to The channel and ping that notification Bell so you don't miss it and while You're about It smash that like button To give this video a boost now as Bullish as the crypto Market has been Lately it's important to remember that There are still lots of bears lurking in The background one of the biggest bears Is one that seems to have been all but Forgotten and that's the sec's ongoing Lawsuit against binance which is Reportedly starting to intensify for Reference binance recently settled with Us Regulators including the cftc and the Doj if you watched our video about that Binance settlement however you'll know That one regulator was notably absent The SEC which continues its anti-crypto

Crusade against crypto projects and Exchanges recent court filings reveal That the SEC is unsatisfied with the Information that's been provided by Binance International about its Operations and its relationship with Binance's us arm naturally the regulator Is trying to find evidence of another FTX with the parent company controlling All assets so far though the sec's Probing has revealed zero evidence of This happening at binance and it sounds Like the regulator is starting to get Desperate that's because it's now asking For additional binance officials to be Deposed that is cross examined that's Despite the fact that it's already Deposed a dozen binance Employees what's interesting though is That the SEC apparently hasn't deposed Binance's co-founder and former CEO Chang Pang Xiao AKA CZ court filings Reveal however that discussions about This deposition are in progress which Could mean that CZ will once again be Called to the stand to answer the sec's Loaded questions On that note it also seems that everyone Has forgotten that CZ is awaiting his Sentencing date somewhere in the United States it was recently revealed that CZ Had tried to pledge his entire stake in Binance Us in order to get permission to Travel to the UAE while he awaits

Sentencing something that was denied by The judge what's funny is that nobody Knows where in the US CZ is nor what He's been up to he hasn't been been Active on Twitter since early December And it's unclear when he'll be back his Last tweet suggested that he's taking Some much needed time off after grinding In crypto every day for a decade fair Enough if you ask me chances are we Won't see him reappear in the public eye Until just before his sentencing which Is scheduled to occur on Friday the 23rd Of February that's when the judge will Decide how much jail time CZ gets if any Now this decision could affect the Crypto market and it could particularly Affect BNB which CZ is now focused on if You don't understand why this is so Significant take a second to recall what Happened during s spf's trial last year It paradoxically became a very bullish Catalyst for the crypto market and Particularly for cryptos previously Affiliated with FTX like salana it's Possible will will see a similar Phenomenon this time around but again It's important to remember that the SEC Is still going after binance with a bit Of luck though the judge in the sec's Case against coinbase will throw out Some or all of that case following their Recent meeting and this could set the Precedent that could finally kill this

Crypto bear that is the uncertainty Around the sec's case against binance Unfortunately this won't have any effect On all the bearish macro factors that Could still affect the crypto Market the One macro Factor that's been in the Spotlight recently is China's continued Economic weakness something that could Affect the crypto Market both directly And indirectly you see even though Trading crypto is banned in China Holding crypto apparently isn't at least According to multiple court rulings what This means is that there are likely lots Of Chinese citizens who are still Holding crypto if the Chinese economy Continues to deteriorate they could sell These assets for feat and come to think Of it it's possible that a lot of the Ico era e that's been waking up over the Last few months is coming from Chinese Investors who are running short on cash The larger transfers of eth to exchanges Could likewise be coming from ethereum Miners from back when eth was still Proof of work at the same time the Capital flight that China's economic Situation is likely causing could Increase the risk that the CCP tightens The screws even harder on crypto the Elephant in the room here is stable Coins like usdt which are known to be Used to move money in and out of the Chinese Mainland some of you might

Remember that Chinese government Agencies were calling for a tether Crackdown due to illicit Forex Trading The same agencies that are headed by the Central Bank Governor pan gong Sheng you Can learn more about him and his role in China's crypto Crackdown in the Description anyway this ties into the Indirect effects that China's continued Economic weakness could have on crypto In addition to tightening the screws Around Capital controls China's economic Weakness could result in even more Intervention by the pboc to defend the Yuan's value something we reportedly saw Last week for those unfamiliar when a Central bank defends the value of its Country's currency this almost always Involves selling large amounts of US Government debt for US Dollars which are Then used to buy the currency in Question this can have the KnockOn Effect of raising yields on US Government debt and because yields on US Government debt often determine interest Rates of similar duration this could Cause interest rates in the US to rise Mainly long-term interest rates as it so Happens the yield on the 10-year Treasury jumped last week though this Was likely due to other factors like Economic data regardless there is a Bullish side to China's economic Weakness and that's all the stimulus

That the government and the Central Bank Are likely to unleash in order to stop It now so far the CCP has been steadfast About avoiding stimulus at all costs Likely because it risks further Devaluing the Yuan however the tone is Slowly but surely starting to change Last week pan announced that Chinese Banks will be able to hold smaller cash Reserves starting from the 5ifth of February it's hoped that this will Increase lending activity I.E more money Creation there is a chance that some of This money will find its way into crypto The caveat however ever is that Expanding lending capacity doesn't Necessarily mean that anyone will be Lining up to borrow moreover the CCP Isn't rushing to put the pedal to the Metal macro analysts believe that this Will only happen once the Federal Reserve starts easing that will allow The pboc to follow suit without Weakening the Yuan news flash but the FED will be announcing its latest Interest rate decision this Wednesday I.E tomorrow so depending on what fed Chairman Jerome Powell says at the press Conference this could give China the Wiggle room it needs or it could force The CCP to try and keep things together Until March when the First Fed rate Cuts Could be due and with all that said it's About time we looked at last week's top

Performing cryptos so Jessica over to You thanks guy last week's top Performing cryptos were Manta Network Conlux SOI helium and Iota starting with Manta Network its Manta token appears to Have pumped due to successive exchange Listing after the layer 2's token Launched the layer 2 itself has also Seen a surge in total value locked Making it the third largest layer 2 by Tbll according to L2 beat given that Manta is literally brand new it's very Difficult to analyze its price with a Market cap of $900 million though it Seems unlikely that it could grow much More from here particularly when you Factor in the competition it's facing From other layer 2os some of whom have Yet to launch their Tokens next up we have conflux whose cfx Coin appears to have pumped on the news That the project has released a special SIM card in China very cool it appears That this news was enough to cause cfx To to breakout of a massive channel that Has been stuck in since early December If this breakout plays out cfx could see Another week or two of double digit Gains until it hits that next key Resistance level at around 30 cents as For sui it sui coin appears to have Pumped on the news that sui has become One of the largest smart contract Cryptocurrencies by total value locked

According to defi Lama as you can see Sui tvl continues its parabolic Trajectory sui's price chart paints an Even more bullish picture a massive cup And handle pattern if it plays out suie Could rise as high as $2.5 in the coming weeks when it comes To helium its h&t token appears to have Pumped in response to the news that the Project has partnered with a massive Telecoms company in Latin America to Roll out mobile hotspots across the Country Something we covered in a recent Q&A as You can see h&t is painting a similarly Bullish pattern which could very well be A bull flag if it plays out h&t could Rise as high as $15 in the coming weeks Last but not least we have Iota whose Iota coin rallied for unknown reasons Our best guess is that it has to do with Comments made by members of the project Team during a recent am with kucoin in Contrast to sui and h&t Iota is looking A lot weaker on the price charts it's Back above the Ballinger band moving Average on The Daily which is a good Sign but it faces a lot of resistance to The upside in the absence of any Additional Catalyst it may not move much Higher for the time being note that if You do want to keep track of which Cryptos are pumping and also where you Can trade them check out the coin buau

Telegram Channel channel the link is in The Description 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 Discounts and airdrop bonuses of up to $50,000 on some of the best crypto Exchanges only for the viewers of this Channel also if you want to pick up some Snazzy crypto merch the coin Bure merch Store have 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 in next Week's Episode Woo

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