Crypto News: Bitcoin, ETH ETFs, Stablecoins, TIA, Alt Season & MORE!

Welcome to the coin Bureau Weekly News Round my name is Jessica and my name is Guy here are the top stories in crypto This [Music] Week Germany Sals BTC the German Government dumps its remaining BTC Holdings on the open market causing Prices to dip why the selling might not Be over yet ethereum ETF anxiety asset Managers eagerly await the approve Approval of the spot ethereum ETFs as Eth Wales prepare to sell how high or Low could eth go stable coins not Securities the SEC quietly drops this Lawsuit against paxu opening the door to Stable coin adoption in the US Everything you need to know Yen and Stocks the bank of Japan intervenes to Prevent its currency from imploding While small cap stocks rally in response To to a cooler CPI what does it mean for Crypto 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 the German government Finished selling all of its BTC to put Things into perspective it had 50,000 BTC at the start of its selling spree in Late June this works out to roughly $3.5 Billion of sell pressure that was was Absorbed by the market over the last few Weeks the fact that btc's price held up

As well as it did underscores just how Strong the demand side of the equation Was and this could clearly be seen in The spot Bitcoin ETF inflows more than a Billion dollars over the last week alone The catch is that most of these inflows Could be coming from retail investors if This is indeed the case then they may be Blindly buying the dip just like many Retail investors are in the actual Crypto market now the good news is that Germany's BTC sales are essentially over So the spot Bitcoin ETF dip buyers have Won the battle but just as in many Movies you might see these days there is A second wave of selling pressure on the Horizon that is the bad news the 47,000 BTC that are about to be returned to Mount gox creditors to bring you up to Speed Mount gox began returning BTC to Creditor s the week before last the Catch in this case is that this BTC Didn't go directly to the creditors just To the exchanges which had filed claims On their behalf some of these exchanges Technically have up to 90 days to Fork Over the BTC however some exchanges such As bitstamp have announced that they Plan on returning Mount ga's BTC to Creditors much sooner fortunately not All these creditors will sell Unfortunately ly the ones that do will Probably sell all at once so this could Result in a downside surprise for the

Market in turn this could result in Long Liquidations for context it was Fundamentally the long liquidations that Caused the market to go down so much When the German government started Selling it was all the traders who went Long being forced to sell BTC and we Could see the same phenomenon again and By the way we covered the mount gox Dispers ments extensively in a video Yesterday which you can find here in the Top right anyways the Silver Lining to All this is that if this sell pressure Does happen then it would be an Excellent buying opportunity not Financial advice of course the chart Suggest that a drop below 56k could be Followed by a bigger crash to sub 50k Conversely though if BTC manages to get Above 60k it could rally to the mid 60 Dks and consolidate before moving even Higher if you want to maximize your Profits regardless of which way the Markets go then check out the coin Bureau deals page it's got trading fee Discounts of up to 70% and sign up Bonuses of up to $100,000 on the best crypto exchanges The link is in the description and while You're at it make like Thor and Hammer That like button if you're enjoying the Video and subscribe to the channel and Ping that notification Bell so you don't Miss the next one

Now speaking of BTC Wales selling some Of you may have noticed that an enormous Amount of eth has been sent to crypto Exchanges in recent days this could be The clearest sign yet that a spot Ethereum ETF is imminent and they could Already be trading by the time you watch This video funnily enough the launch of The spot ethereum ETFs could be like What we've seen with the spot Bitcoin ETFs over the last few weeks Specifically they could experience Significant net inflows all while eth Wales dump on ETF investors where eth Goes will depend on who wins this supply And demand battle but let's not get too Ahead of ourselves there is a good Chance that the spot ethereum ETFs will Be delayed yet again and by now you'll Know that we believe that asset managers Could be coordinating with the SEC to Launch the spot ethereum ETFs when Market conditions improve which would Make sense not only that but eth's price Has been surprisingly sensitive to large BTC sales the same is true for most Altcoins although eth and other altcoins Didn't fall nearly as much as BTC when These sales happened most of you Probably noticed that it still managed To pull eth and altcoins lower very Peculiar this highlights the fact that The crypto Market is interconnected in Ways that aren't obvious at first glance

For example some large crypto investors May be selling their altcoins to keep Their BTC long positions open during BTC Dips it's also possible that there's a More systemic connection between them Come to think of it it's possible that We could see a similar Dynamic when the Spot ethereum ETFs do finally launch There could be a considerable amount of Rotation out of the spot Bitcoin ETFs Into the spot ethereum ETFs this Rotation plus Mount gaau Sals could Cause BTC to crash hard while eth Rallies in any case the eth charts Suggest that it could fall as low as 2400 if there's another spot ethereum ETF delay or another bearish Catalyst of Some kind it's quite possible that the Bearish Catalyst could be lower than Expected inflows after the spot ethereum ETFs list something that could very well Happen on the flip side though could Rally up to 4k on a successful spot Ethereum ETF listing and it's possible That the mere news of the spot ethereum ETFs receiving their final approval Could be enough if this is what happens Though then be aware that lower than Expected inflows upon listing could Erase those gains all we're wondering is Why so many eth whales are selling and Why Ico era eth is also waking up and Being sent to exchanges now it's it's Important to note that this isn't unique

To eth either old BTC has been waking up Too and it makes us wonder if these Whales are aware of a very big bearish Catalyst coming up given that the oldest BTC and eth was mostly mined in China It's safe to assume that most of this Old eth and BTC belongs to Chinese Investors or miners given this fact it's Safe to assume that the bearish Catalyst Whatever it may be is likely related to China and could bite the markets in the Coming weeks more about the possibility That China could invade Taiwan in the Description I digress now on a more Positive note the SEC has officially Dropped its lawsuit against paxos for Reference the SEC began probing the Stable coin issuer early last year Because of B USD the binance Branded Stablecoin of course the SEC was looking For evidence that b USD is a security lo And behold the SEC apparently discovered That this was not the case after over a Year of Investigation probably millions Of taxpayer dollars and likely thousands Of manh hours well the SEC could have Figured this out in 5 minutes if it had Actually taken the time to understand What a stable coin is for those Unfamiliar for an asset to be a security It must meet four criteria one of which Is that when you buy it you have an Expectation that you're going to make Profit logically there is no expectation

Of making a profit from a stable coin it Is literally designed to maintain a Stable value clues in the name Regardless the SEC dropping its lawsuit Against paxos is extremely significant This is simply because it effectively Confirms that stable coins are not Securities in the United States this Means that Traders and investors can Trade and hold larger amounts of usdc Usdp and py USD without fear of an SEC Crackdown more importantly it means that Traders and investors can also trade and Hold larger amounts of gold-backed Tokens like Pax G as they are also Technically stable coins as such the SEC Dropping its lawsuit should not only Result in an increase in us-based Stablecoin dominance but also goldback Stable coins now this is where things Get interesting If stable coins are not Securities then What are they they're clearly not Commodities so this means that they must Be some form of money not surprisingly This is precisely what many stablecoin Issuers have been arguing and what Pending stable coin regulations would Clarify as such the SEC dropping its Lawsuit could not only result in Everything I just noted but also provide A clear pathway for stablecoin laws in The US this is just because because like The Traders and investors the

Politicians will be able to pass these Stable coin laws with the confidence That the SEC won't get in their way and Once these stablecoin bills become law And stable coins are established as Forms of money then it will be possible To use stable coins for things like Payments if you've been keeping up with Our salana updates you'll know that Stablecoin payments seem to be its Hidden killer use case more importantly Stablecoin payments would unlock a whole Other world of crypto use cases that Were previously impossible for instance It could become much easier for deep in Crypto projects to gain adoption as Users would be able to pay with their Stablecoin enabled Visa card Food For Thought now as exciting as all of this Sounds it's worth noting that just like The BTC cell pressure the sec's scrutiny Of the crypto industry isn't completely Gone it's quite possible that will see The regulator follow through with its Lawsuit against Unis Swap and even cook Up another ethereum related Court action I'll quickly remind you that the SEC was Investigating the ethereum foundation Just a couple of months back whatever The case the fact of the matter is that The SEC will continue to scrutinize the Crypto industry so long as Gary gendler Remains in charge some would argue that This will be the case so long as

Democrats continue to be in power but There is a case to be made that changing The president would be enough anyways Another potential consequence of the SEC Dropping its lawsuit against paxos is That it could give usdc issuer Circle The green light to IPO you'll recall That the stable coin issuer has been Planning to do this for months if not Years it's possible that the sec's Stable coin scrutiny was playing a role In the delay if this is indeed the case Then Circle stock could soon list on Exchanges and there's a chance it could Someday become the world's most valuable Company this is because Circle Ultimately helps governments monetize Their debts by issuing stable coins Which are of course backed by government Debt but used as money as it so happens Circle has reportedly been planning to Issue a Yen stable coin if this is the Case then it would come as a great help To the bank of Japan which is Practically been the biggest buyer of Japanese government debt over the last Decade something that's contributed to The Yen's continuing collapse FYI the Yen has fallen nearly 50% against the US Dollar over just the last couple of Years and it recently fell to lows not Seen in decades that's why it was eye Openening to see the Yen suddenly rally Against the USD when the US CPI came in

Cooler than expected at first glance it Looks like this was related to interest Rates in other words it looks like the Yen rallied because interest rate Expectations in the US fell in response To the CPI simultaneously weakening the US dollar upon closer inspection however It appears that the boj intervened in Plain English it looks like the boj sold Assets then bought yen to increase its Value what's fascinating is that this Apparent Yen intervention coincided with A decline in S&P 500 this is fascinating Because Japanese investors hold a lot of Offshore assets such as US Stocks as Such it's possible that the boj sold US Stocks for US Dollars and then used These US dollars to buy yen however it's More possible that the S&P 500's decline Was caused by the Yen's strength this is Because of something called the carry Trade investors have been borrowing Yen Due to its low interest rates and using It to buy other assets such as US Stocks This works well when the yen is weak and Rates a low however if the Yen suddenly Strengthens or Japanese interest rates Rise then it makes all this borrowed Yen Much more expensive this puts pressure On those who borrowed this yen to sell Whatever assets they bought with it and Repay their suddenly more expensive Yen Loans the Practical effect of this Though is that it causes is the Yen's

Value to rise which puts even more Pressure on those doing this Yen carry Trade this runs the risk of turning into A sort of death spiral forcing stocks to Be sold to buy yen forcing the Yen Higher forcing more stocks to be sold Forcing the Yen higher Still the unwind of this Yen carry trade Is something that macro investors have Talked about for years if not decades And it's possible that we are on the Brink of it finally happening Realistically though the Yen's sudden Strength was likely due to a currency Swap the Federal Reserve printed dollars The bank of Japan could use to buy yen The truly fascinating thing is what Happened to small cap stocks in the Midst of all this Market Madness small Caps actually rallied per the Russell 2000 this suggests that small caps could Rally even more if the FED starts to Signal that lower interest rates are Coming which it could do at its meeting Late this month and because small caps Seem to be highly correlated to altcoins This could foreshadow a massive altcoin Rally case in point altcoins also saw a Bit of strength after the lower than Expected CPI print came out and interest Rate expectations fell what this means Is that alt season could start as soon As later this month speaking of which It's about time we looked at last week's

Top performing cryptos so Jessica take It away Thank you guy well last week's top Performing cryptos were not coin Mantra Optimism Celestia and Ronin starting With not coin it's not token appears to Have pumped in response to the news that It had partnered with other crypto Projects to create an accelerator fund For ton coins growing Ecosystem as expected not is struggling To get above 1.5 which is a key resistance level if It gets rejected it could fall as low as 1.2 cents if it manages to break above It could rally as high as 1.8 cents in The coming days next up we have Mantra Whose om token appears to have pumped in Response to the ongoing development of The Mantra chain a cosmos based Blockchain that will host compliant Rwas now om seems to be on the brink of Breaking above a key psychological level Of $1 if it can stay above this level it Could rally as high as $1.3 in the coming days when it comes to Optimism it's op token appears to have Pumped in response to a technical Upgrade to the layer 2 as well as the Recent ECC conference in Brussels like Not OP is struggling to get above $1.7 which is a key resistance level if It keeps getting rejected then it could

Fall as low as $1.4 if it manages to break Above This Level then it could rally as high as $2 In the coming days a key psychological Level as for Celestia Tia appears to Have pumped in response to the Project's Recent modular Summit conference and Also all of the associated announcements And developments that come alongside it Like and also op Tia is struggling to Get above $7 which is a key resistance level if it Keeps getting rejected then it could Fall as low as $5 if it manages to break Above This level then it could rally as High as $9 in the coming Days finally we have Ronin whose Ron Token appears to have pumped in response To the sale of moku nfts which seems to Have been super successful as you might Have guessed Ron is struggling to get Above $22.15 which is a key resistance level If it keeps getting rejected then it Could fall as low as $1.8 if it manages to break Above This Level then it could rally as high as $2.4 in the coming days if you want to Know which cryptos are rallying and also Where you can trade them then be sure to Join the coin bu Insider telegram Channel using the link in the Description and that is all for today's Coin Bureau weekly crypto review if you

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