Crypto News: Bitcoin, ETH Price, CPI Print, PYTH, WIF & MORE!!

Welcome to the coin Bureau Weekly News Roundup my name is Jessica and my name Is guy here are the top stories in Crypto this Week blow off top BTC hits a new All-time high of almost 74k before Crashing foreshadowing a long overdue Correction how low could BTC go sell the News eth Takes a Tumble after the the Denune upgrade as Soul experiences a Massive pump what does this mean for eth Top signal mcoin dog with hat raises 700k to be displayed on the Vegas sphere Why the crypto Market is nowhere close To a cycle top higher for longer higher Than expected CPI and PPI prints lead to Expectations that the Federal Reserve Will keep interest rates where they are This week 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 hit yet another All-time high driven as always by the Continued inflows into the spot Bitcoin ETFs the caveat though is that there is Some evidence to suggest that most of Btc's price action has been taking place During off-market hours that is when the ETF are not trading now while it's true That crypto Wales continue to play a big Role in the market it's likely that the Off Market activity is related to the

Spot Bitcoin ETFs it's believed that Large market makers are accumulating Around the clock to ensure that there's Enough BTC to back new ETF shares Whatever the case btc's rally to almost 74k was met by another correction Something we've seen every time it hit a New alltime high as always the cause of This correction was the liquidations of Leverage traders who lost hundreds of Millions of dollars betting that btc's Price would keep going higher the Difference this time around is that BTC Continued to decline although it's true That BTC had record amounts of Leverage Going into the dip it's likely that the Continued decline was due to weakness in The broader markets this seems to have Been due to the hot inflation prints More on those later now this all begs The question of how low BTC could go the Answer depends on the time frame btc's Daily chart suggests that it may have Hit a local low at the time of shooting That's because BTC appears to be Bouncing from the Ballinger band moving Average a key zone of support however It's possible that this support level is Just a pit stop for another big move Lower zooming out to the weekly suggests That BTC could fall as low as 45 5K Before recovering this is where the Ballinger band moving average is and There's lots of additional support on

Weekly Candles now in a worst case Scenario BTC could retest the Ballinger Band moving average on the monthly which Is currently around 30k now this is Possible if BTC is in a bare Market Rally similar to what we saw in 2019 however it's much more likely that BTC is closer to the summer 2020 phase Of the previous cycle To refresh your memory this was when Micro strategy famously first bought BTC In retrospect it was one of the main Catalysts that started off the previous Crypto bull market it's possible that The approval of the spot Bitcoin ETFs is Analogous to micro strategy buying BTC In which case the bull run is just Beginning now it goes without saying of Course that there were other factors That contributed to btc's rise back then Namely all the fiscal stimulus we saw in Response to the pandemic funnily enough We find ourselves in a similar position Today with fiscal stimulus and high Interest rates boosting the economy I Know that may sound counterintuitive but I'll explain my reasoning later Meanwhile if you want to trade what Could be an explosive BTC recovery 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 are only available for the viewers

Of this Channel and they won't be around Forever so take advantage of them before They expire using the link in the Description now while BTC was hitting a New all-time high eth was taking a Tumble this suggests that ethereum's Denon upgrade was a sell the news event At least for eth consider that eth had Hit its highest price in over 2 years The day before Denon this is evidence of Traders selling the news drilling down Into the charts we can see that eth has Fallen below the Ballinger bound moving Average on The Daily this would be Bearish if there wasn't an accompanying Hammer Candlestick pattern for context a Hammer is a bullish reversal Candlestick Pattern meaning eth could pump soon more About Candlestick trading in the Description I Digress now in case you're wondering the Next zone of support that eth could fall To is around 2.5k which corresponds to The Ballinger moving average on the Weekly as well as previous weekly Support to put things into perspective This would translate to a drop of more Than 30% a vicious correction meanwhile Switching to the eth BTC chart reveals That eth is at a critical level relative To BTC if eth falls much further Relative to BTC then this foreshadows Eth underperforming BTC in Fiat terms it Could also foreshadow eth

Underperforming other altcoins in Fiat Terms too soul is the elephant in the Room in this regard as you can see soul Is looking incredibly bullish in BTC Terms and could be breaking out of a Massive bull flag on the weekly this Would translate to so gains of 25% or More which could translate to a sole Price increase of 25% assuming that Btc's price continues to trade around Its current levels lo and behold Soul's Weekly chart reveals that a 25% Rally From its current price would bring it Back to its all-time high of around $250 it's worth pointing out that Soul Has already hit an all-time high by Market cap which could foreshadow a Correction or a continuation depending On your perspective in any case this Begs the question of why Soul's price Action has been so strong relative to Eth perhaps we're mistaken but it's Possible that the answer is that many Investors believe that an ecosystem of Fragmented layer 2os like ethereums is Inferior to a single monolithic chain Like salana of course there are Tradeoffs to this setup though ethereum And its layer 2s are reliable and secure As of the denune upgrade most of Ethereum's layer tws are also just as Fast and as cheap as salana by contrast Salana has not been that reliable with Many failed transactions and even a

Recent outage more about what's been Going on with salana in the description Moving on now regard regarding eth's Poor price action this seems to be due To the growing consensus that ethereum Won't be getting a spot ETF of its own Anytime soon again you can refer to the Interview our CEO Nick did with an Analyst at k33 research for more info There the link to that will also be in The description now besides possible Preferences for monolithic chains Another big contributor to Soul's price Action has been the ongoing mcoin hype You may have noticed that most of the Meme coins that have been rallying are On salana it seems that many salana Dex Tokens have been rallying as a result Too now the salana mem coin that's been Front and center recently is dog with Hat which hit a new all-time high after A campaign to put its logo on the Vega Sphere raised $700,000 the crazy thing is that this Was reportedly an unofficial campaign it May not be displayed on the sphere at All If it is then it's likely that dog with Hat will hit another all-time high bitm Co-founder Arthur Hayes reckons whiff Could hit $10 we reckon It ultimately depends on Whether whiff lists on us exchanges Namely coinbase after all there won't be

Much buying if it's not possible to buy It in the first place note that we'll be Doing a video comparing whiff to Doge And shib so be sure to subscribe to the Channel and ping that notification Bell Bell so you don't miss it and while You're at it smash that like button to Give this video a boost in the algorithm Now in addition to whiff potentially Hitting a new all-time high once its Mascot is shown on the Vegas sphere many Believe that this could be a top signal For reference a top signal is an event Which suggests that the markets have hit Peak fomo meaning they may not go higher In the short term when you realize this You start to realize that there have Been lots of events lately that could be Interpreted as top signals for example The rumors that Qatar will be buying $500 billion worth of BTC some would say that the record Levels of Leverage we saw on BTC Recently were a top signal themselves The catch is that these are just a few Indicators and there are many more to Suggest that the crypto Market has Further upside for instance if you Follow our friend Ben Cowen you'll know That the number of views and subscribers To crypto YouTube channels is only just Starting to creep up similarly Google Searches for things like buy crypto are At levels similar to late 2020 which is

Further evidence to the idea that BTC is Fully out of bare Market territory and At the beginning of a new crypto bull Market I suppose hitting a new all-time High was evidence enough but there's Nuance there too more about that in the Description now one could argue that Indicators like views subscribers and Search terms don't matter as each cycle Is slightly different this could very Well be the case but one thing that's Been consistent over time is the Relative duration if Trends are turning Up now they will continue to do so for Another year at least during that time You can expect to see BTC as well as Most other cryptos make new all-time Highs make no mistake there will be some Massive Corrections along the way and It's possible we're at the beginning of One of them this depends on what happens Over the coming days yes I refer of Course to the Federal Reserve which will Be announcing its latest interest rate Decision this Wednesday more importantly It'll be releasing its updated summary Of economic projections or sep which Includes a forecast for where the FED Believes inflation and interest rates Will be in the future to bring you up to Speed the FED raised interest rates to Fight inflation and has been keeping Interest rates High to bring inflation Back down to its 2% Target inflation had

Been falling until late last year when It seemed to have bottomed last week's CPI and PPI prints suggest it could be Stuck at 3% or even Rising as I Mentioned earlier the higher than Expected CPI and PPI prints appear to Have caused a market correction and Could be contributing to the weakness We've seen in BTC and the rest of the Crypto Market If the Fed reveals it Wants to keep rates higher in the SCP There could be another leg lower however This assumes that the crash was due to The high inflation prints and that the FED will Backtrack on its recent Decision to cut rates in the future in The case of the former it's possible That it's simply due to a change in Passive flows something explained by Macro analyst Sam Carson basically most Of the investing in the stock market is Coming from automated buying by Pension Funds and the like last Wednesday was Apparently the last day of strong Inflows from passive funds for the first Quarter this could mean another two Weeks of relative weakness regardless of What the FED does now when it comes to The FED it's unlikely that the central Bank will pull a 180 on the rate Cuts It's promised if you're subscribed to Our Weekly Newsletter then you'll know Exactly why that is if you're not then Make sure to do so using the link in the

Description so you don't miss our next Weekly Market forecast but back to the FED now another thing we mentioned in Our Weekly Newsletter was the importance Of the Treasury Department in this whole Equation it's believed that the reason Why there hasn't been a recession in the US is because of fiscal spending that is Government spending which continues Unrestrained given that this is an Election year it's likely that the US Government will continue spending as Much as possible to keep the economy and The markets propped up the last thing Anyone wants is a big recession or a Crash especially given how polarized Politics has become in the US these days The thing is that what matters the most To the markets is not what's true but What investors see if most investors Believe that everything is being Determined by the FED then that will Continue to be the case at least in Terms of short-term moves this means the FED could still cause a correction this Week however it also means that this Correction could be short-lived as the Fiscal spending will continue behind the Scenes and not only that but the Billions being paid out by the treasury To bond holders will continue to get Spent into the economy and the markets These Bond holders include rich people And corporations in short then it looks

Like it could be up only barring some External shock from some unforeseen Macro or crypto Factor obviously there's No shortage of those these days but Waiting around for them to happen has Proven to be a bad strategy and even When they do happen the response will be Money Printing and 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 Jupiter Ox pith Network conflux and ton coin starting With Jupiter it's Jupe token appears to Have pumped due to all of the mem coin Trading happening on salana Jupiter also Seems to have put out a teaser for what Is either a meme coin or an nft Collection let's be real it's probably a Meme coin as you can see jup has been Going parabolic since it launched with Not much price history it's hard to say Where it will go next but it looks Overboard across all time frames a Correction in the short term would not Be Surprising next up we have Ox whose ZRX Token appears to have pped due to the Launch of matcha a Dax aggregator built Biox on base the ethereum layer 2 Created by coinbase as you can see ZX Has literally gone vertical and appears To be hitting a key zone of resistance On the weekly in a similar fashion to

Jup it could see a correction in the Short term before heading higher as it Is extremely overbought as for pith Network its pith token appears to have Pumped due to the creation of the pith Counil and subsequent governance Proposals the reason why this is so Bullish is because pith needs to be Sufficiently decentralized to land a Coinbase listing which it's currently Missing like jup pith has been going Parabolic almost since it launched the Difference is that the rally appears to Be a little bit more sustainable at Least on the daily chart even so a Correction is likely coming sooner Rather than later when it comes to Conflct it's cfx coin appears to have Pered due to a launch of a liquid Staking protocol for the coin called Shuy sounds eerily similar to sui Anyways cfx is price action has been Explosive on the weekly and it's hard to See how much higher it could go without A correction as the saying goes though The markets can stay irrational longer Than you can stay solvent don't Underestimate upside surprises during a Bull market finally we have ton coin Whose ton coin appears to have pumped on The news that telegram plans on going Public I listing it shares on stock Exchanges a telegram game on ton coin Called not coin also appears to be

Gaining traction like the other top Performing cryptos ton looks incredibly Overbought the difference is that it Could be on the brink of an even bigger Breakout on the long-term charts but Just remember that this breakout may Only come after a short-term correction If you want to know what cryptos are Pumping and also where you can trade Them then be sure to join the coin buau Insider telegram Channel using the link In the Description and that is all for 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 Trading fee and Hardware wallet Discounts and airdrop bonuses of up to $50,000 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 Those resources and many others in the Description below thank you so much for Watching and we'll see you all in next Week's Episode