Crypto News: Bitcoin Price, ETH Updates, Rate Hikes & MORE!!

[Music] Foreign To the coin Bureau Weekly News Roundup Here are the top stories in crypto this Week Crypto markets stall Bitcoin dominance Declines while btc's slumps sideways Leading to speculation that someone is Trying to prevent a massive liquidation Who's the unknown player at risk of Getting wrecked bullish ethereum updates D5 loans increase chain link introduces A new interoperability protocol and Solana finally rolls out its evm layer Why are ethereum Ico participants Sending eth to exchanges Kuwait bans Cryptocurrency the gulf country cracks Down citing the infamous fat F Recommendations as its neighbors Continue to embrace crypto how this Could have a profound impact on the Crypto Market Rate hikes incoming the Federal Reserve And European Central Bank prepare to Raise interest rates to multi-decade Highs while investors I the bank of Japan's decision 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 Good morning afternoon or evening thank You for tuning in my name is guy and None of what follows is financial advice

I should note though that this is the 1 000th video from the coin Bureau so on Behalf of myself and the team I'd like To say a huge thank you for your support Over the years and we have some exciting Updates coming your way very soon so if You haven't already subscribe to the Channel and ping that notification Bell And now for today's top stories Last week the crypto Market continued to Slog along BTC eth and other major Altcoins basically became stable coins While select altcoins experienced epic Rallies This seems to have been because there Were no significant crypto or macro Factors that caused the market to Definitively pump or dump All Quiet on The Western Front in other words Interestingly major stock indices saw Slight declines over the last week now For context crypto is highly correlated To tech stocks this correlation has Decreased however over the last few Months the good news is that this means A dip in the NASDAQ doesn't cause the Crypto Market to crash as much as it Used to the bad news is that this means That a rally in the NASDAQ doesn't cause The crypto Market to explode as much as It used to either The even worse news is that a weaker Correlation between crypto and tech Stocks means it becomes much harder to

Keep track of the crypto Market this Means you must be focused on crypto Specific factors which are much more Unpredictable it's easy to forget that The crypto industry is still dealing With the Fallout from FTX if you watched Our video about digital currency group You'll know that they could go bankrupt If they don't pay creditors soon Now to be clear we've also been getting Somewhat good news on the regulatory Front namely the recent ruling in the Sec's case against Ripple even so it Appears that the SEC is planning to Appeal and what's frustrating is that It's not entirely clear how this appeal Would affect the crypto Market As is often the case the absence of any Meaningful crypto developments Persistently static price action and General uncertainty have led to Widespread speculation about the little That is going on over the last few days There's been lots of speculation that an Unknown whale is close to being Liquidated naturally the evidence for This theory is the fact that BTC seems To be refusing to fall below the 29.8 k Mark obviously this could simply be a Consequence of an unknown whale Accumulating around these levels Possibly one of those asset managers who Recently filed for a spot Bitcoin ETF That said there's no denying that

There's lots of Leverage in the crypto Market these days This is evidenced by the record high Supply of usdt in circulation for Reference usdt is primarily used for Leveraged trading so usdt at all-time Highs tells us there's lots of Leverage Out there somewhere When you combine these apparently high Levels of Leverage with low Market Liquidity and historically low levels of BTC and ethon exchanges what you have is A recipe for an aggressive move to the Upside or the downside The direction prices go depends on the Catalysts which are again very uncertain In theory this week's rate hikes by Major central banks could be catalysts In practice however crypto's response to These rate hikes has been muted lately And investors seem to have fully priced In the hikes that both central banks Promised This means that the Catalyst will be Something else and likely crypto Specific If this catalyst is bearish we could see A series of cascading liquidations akin To what we saw earlier this month a Double-digit correction if this catalyst Is bullish BTC could break out to Another yearly High likewise driven by The liquidation of any crypto trades Betting against the market

So be vigilant and if you think more People need to know this info smash that Like button to give this video a boost Now another fascinating thing that Occurred over the last week was a sudden Decline in ethereum dominance When you combine this with the similar Decline in Bitcoin dominance it suggests That speculative crypto investors are Slowly but surely starting to allocate Capital to altcoins this is particularly Fascinating when you realize that loans In D5 lending protocols have increased When you combine this with the decline In ethereum dominance it suggests that These speculative crypto investors are Borrowing against their eth to buy alts And there is on-chain evidence of this One of the alts that these defy degen's Have been accumulating is chain Link's Link token this is almost certainly due To the release of the oracle's Cross-chain interoperability protocol or Ccip Without getting too technical ccip makes It easier for cryptocurrencies to Interoperate namely those that use the Ethereum virtual machine or evm not only That but the ccip makes it possible for Cryptocurrency blockchains to connect to Swift the messaging system used by Almost every major Bank to send money Around the world chain link co-founder Sergey nazarov hopes it will make it

Possible to bring more real-world assets On chain now there's no question that it Will but there is a question of whether Regulators will allow it after all Regulators around the world have been Nervous about the prospect of crypto Being connected to the financial system In any way Chain link ccip could therefore make the Oracle a potential Target Anyway speculation aside ccip could mean That ethereum's ecosystem is about to Expand in a big way and the recent Release of neon is just the icing on the Cake for those unfamiliar neon is an evm Layer on Solana analogous to Aurora or Near protocol which has seen significant Adoption what's funny is that neon's Website initially noted that it would be Capable of processing four and a half Thousand transactions per second which Would have made it the fastest evm Implementation however the website now Notes that it can only process around 2000 TPS which is still fast but not as Fast obviously In any case the release of neon is going To be an interesting test of determining Whether ethereum will reign supreme or Not that's because Solana itself uses a Different virtual machine for smart Contracts If neon gains more adoption than Solana Then it will be a clear sign that

Ethereum will continue to rain chances Are that ethereum will which is why it's Odd that some of eth's oldest holders Have been transferring their coins to Exchanges lately just last week an Address that participated in the Ethereum Ico and hadn't touched its eth In eight years sent its entire stack 61k Eth worth 116 million dollars to Kraken Now some of you might recall that one of Ethereum's co-founders had also sent Around 20 of his etholdings to Kraken Early last month FYI when Wales send large amounts of Crypto to exchanges this typically Signals an intention to sell otherwise Why would they be sending their crypto To The Exchange And this begs the question of why eth's Price hasn't crashed given all these Whale transfers to exchanges the answer Is probably because these eth whales Haven't sold their entire Stacks just Yet given the aforementioned low Liquidity in the crypto Market they're Probably offloading slowly over time This wouldn't be surprising considering That Bitcoin miners are reportedly doing The same with BTC fun fact it's believed That the reason why BTC has been stuck Around 30k is because of selling Pressure from Bitcoin miners at the same Time someone has been buying just under 30k hence the price action so given

These facts it's possible that eth and BTC whales are in the process of Distribution AKA taking profits if this Is the case then it's quite bearish Because it suggests that crypto prices May not go much higher than here in the Short to medium term otherwise why would These whales be selling now Speaking of Wales it's long been Believed that the citizens of the gulf Countries would become some of the Biggest crypto Wales once reasonable Crypto regulations had been passed Although there has in fact been lots of Progress on that front there's one Gulf Country that won't be adopting crypto Kuwait has announced that it will Completely ban cryptocurrency in the Country and buy completely I mean Everything trading mining payments you Name it Regulators cited compliance with the Financial action task force or fat F's Recommendations as being one of the Primary reasons for the crypto ban now If you've watched any of our videos About the fat F you'll know that it's an Unaccountable international organization That's extremely anti-crypto and has Been coercing countries to crack down on It by threatening to put them on the Gray list or even The Blacklist cutting Them out of the whole financial system This is something we've been warning

About for a long time and it was Something that was confirmed back in May When a Pakistani Minister revealed that Banning crypto forever was one of the Fataf's conditions for taking the Country off its graylist As you might have guessed the fat F has Denied this Now Kuwait's crypto Crackdown is Additional evidence of the fat F's Anti-crypto coercion and it's a much Bigger deal than you think for many Reasons for starters Kuwait's crypto Crackdown has likely sent shock waves Through the otherwise pro-crypto region Which could slow or stop its crypto Adoption More importantly the fat F criteria that Kuwaits regulator cited related to Terrorist financing as it so happens Crypto compliance companies have Recently been sounding the alarm about Crypto being used for terrorist Financing This is likely putting additional Pressure on Gulf countries to follow Kuwait's lead Kuwait's regulator also noted that it Was cracking down on crypto because Quote it is not linked to any asset or Issuer and that the prices of these Assets are always driven by speculation That exposes them to a sharp decline in Other words crypto is akin to gambling

If you watched our video about Saudi Arabia's crypto adoption you'll note That there are real concerns about Crypto being compliant with Islam in the Middle East that's because gambling is Forbidden in Islam and most Cryptocurrencies are in fact more akin To poker chips than actual Investments As such the comments by Kuwait's Regulator could be a sign that religious Concerns are starting to emerge about Crypto in the region This may not necessarily mean that an Outright ban is imminent but it could Foreshadow significant restrictions for Crypto investing especially for retail Never mind that the UAE was also placed On the fat F's gray list in February Last year increasing scrutiny of the Crypto industry could be one of the Conditions for getting the UAE off said Greylist it's also possible however that The fat f is demanding a permanent ban As in the case of Pakistan that would Not be good The Silver Lining is that the fat F Doesn't have this much sway with every Country that means there will be a few That refuse to comply be they in the Gulf or elsewhere These could become the true safe havens For crypto but also the number one enemy Of the fat F and its principal backer The United States

On that note the FED will be raising Interest rates again this Wednesday Investors are currently pricing in Another hike of 0.25 with a 99 Probability so it's unlikely to affect The markets that much That's because markets only react to Things that investors weren't expecting Stuff that isn't priced in logically This means that an unexpected pause Could cause the stock market to explode And it's likely that crypto would Participate in this kind of surprise Rally Barring this kind of catalyst though all Eyes or rather ears will be on fed Chairman Jerome Powell in his subsequent Press conference If Jerome says something that suggests Interest rates are going to go higher Than investors expected well expect a Crash at least among stocks if he says Something that suggests interest rates Are going to be lower or that the FED is Going to pause again expect a modest Rally among stocks and maybe crypto on Thursday the ECB is also expected to Raise interest rates by another 25 basis Points despite the Eurozone technically Being in a recession this is unlikely to Affect the crypto Market that much Though we could see small amounts of Selling around the margins from over-ind Debted investors in Europe

Friday though is when things could get Volatile This ultimately depends on whether the Bank of Japan decides to raise interest Rates something that some investors are Expecting because of multi-decade highs In inflation however some macro analysts Believe that the boj doesn't really want This inflation to stop that's because The Japanese government is massively in Debt and using inflation to devalue this Debt is one way of avoiding a default Macro analyst Western Nakamura also Pointed out that the boj wants inflation Expectations to set in it doesn't want To kill them prematurely by raising Interest rates If you watched our video about what the Central banks are planning you'll know That so long as the boj continues buying Up Japanese government debt to keep Interest rates low the fed and ECB can Keep hiking that's because it's Incentivizing Japanese investors to buy European and American debt if and when The boj does raise interest rates However Japanese investors will sell off Their European and American debt this Will cause interest rates in the EU and The US to spike which could force both Central banks to Pivot and potentially Cause another Eurozone crisis Considering that Japan is an ally of Both the EU and the US the boj is

Unlikely to do this without giving the Fed and the ECB a heads up this probably Won't happen until the fed and the ECB Are confident that they've raised Interest rates enough to crush inflation At this point it's not clear when that Will be the U.S economy is strong at Least employment is and inflation is Sticky at least core inflation is this Means that both central banks still have Room to raise interest rates if the Economy remains strong and inflation Remains sticky the fed and ECB could Raise rates higher than investors are Expecting That's when we could start to see some Serious Market volatility but it's Possible that we've entered an entirely New regime A video for another time perhaps So turning to the charts we can see that BTC is in a big squeeze on the Bollinger Bands on The Daily This is the case for the four hour and The one hour chart at least at the time Of shooting this just underscores how Static prices are and how much Volatility we could see to the upside or Downside in the next week Meanwhile the eth BTC chart shows Downside risks for eth and alts that's Because eth has fallen back below the Bollinger band moving average on the Daily as you can see this moving average

Has served as a significant zone of Support and resistance falling below is Bearish for eth at least against BTC Last week's top performing cryptos were Zinfin AKA xdc Network chain link Stella Maker Dao and ton coin starting with Zinfin its xdc coin appears to have Pumped in response to the crypto Project's attendance at the recent eth CC conference in Paris and in response To announcements from high-profile Attendees who will be attending the First xdc conference in August phew xdc Appears to be approaching a significant Zone of resistance at around 55 cents And it's too soon to say if it can break Above it I'll also caution that xdc doesn't seem To have very wide exchange support nor Very much trading volume come to think Of it another exchange listing could be A bullish catalyst Next up we have chain link and you'll Recall that its link token pumped in Response to the release of ccip This has been enough to get linked to Bounce against the top band of the Bollinger band on the weekly but a Squeeze to the upside has yet to occur It's possible that this is what the Whales are waiting for as for Stella Meanwhile its xlm coin appears to have Continued pumping in response to the Ruling in the sec's case against Ripple

This makes sense considering that xrp And xlm are technologically similar it Appears that xlm received a second wind Possibly from xrp holders who wanted to Get in on another rally Unlike link xlm is squeezing up on the Weekly the catch is that it seems to be Bouncing off the Bollinger band moving Average on the monthly the moving Average that's the most significant Almost every coin and token has failed To get back over the monthly moving Average including BCC and eth it's a Similar story with maker Dao whose nkr Token appears to have pumped in response To a buyback mechanism implemented by The protocol last Wednesday this could Foreshadow similar proposals being Passed by other D5 protocols assuming That it doesn't result in undue Regulatory scrutiny Like xlm mkr is squeezing up on the Weekly but got rejected by the Bollinger Band moving average on the monthly maker Dow's BuyBacks could be enough to get it Above that monthly moving average but This could take well months Again that assumes that the SEC doesn't Try and crack down as a result And finally we have toncoin ton appears To have pumped in response to a series Of recent developments including in-app Payments in crypto and an encrypted On-chain messaging feature newsflash but

Toncoin is used by telegram the Messaging service with over 800 million Monthly users That's why it's strange that ton has Even less exchange support than xdc tons Price action has also been fairly Unimpressive it's possible that there Could be some Insider selling going on But it's more than likely that the Adoption of tancoin has been lacking as A result of the crypto bear Market And as always if you want to get these Rally updates in real time on the daily Then I encourage you to follow our coin Bureau Insider telegram Channel That's Linked to below And that is all for today's coin Bureau Weekly crypto review so if you enjoyed It folks 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 Forty thousand dollars on some of the Best exchanges only for the viewers of This channel you can find the link to That resource and many others in the Description below thank you so much for Watching and I'll see you all in next Week's episode [Music]


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