Crypto News: Bitcoin Price, SOL Rally, ETH, PYTH, HNT & MORE!!

Welcome to the coin buau Weekly News Roundup my name is Jessica guy is away For Christmas but the news continues so Here are the top stories in crypto this Week crypto crash incoming BTC stores as Altcoins lose steam leaving many Wondering whether the overdue Market Correction is imminent how low could Prices Go slow motion rotation eth sees its Highest price in over a year as Investors finally start to rotate into The second largest altcoin when will e Catch up to BTC summer came early Soul rallies after Some of Sal's biggest projects begin Airdropping their tokens to early Adopters what you can do to maximize Your Returns economy versus inflation the Economy remains robust while inflation Continues to come down a head of the Fed's final meeting of 2023 everything you need to know and a Closer look at last week's top Performing cryptos and also where they Could be headed next all this and More In just a Moment last week BTC almost hit 45k due To a combination of crypto and macro Factors on the crypto side BTC was Bolstered by the news that black rock Had begun seeding its spot Bitcoin ETF In plain English it began putting money

Into the ETF in preparation for the Launch which is expected in about a Month the catch is that black rock only Seeded its spot Bitcoin ETF with around $100,000 according to Bloomberg ETF Analyst James saart this is an Abnormally no amount given the Circumstances he said that a spot ETF Application would typically be seed with At least a few million dollars James Stressed that the seed money underscores Black Rock's commitment to really get in The spot Bitcoin ETF approved though There are still questions about whether This small seed amount could reflect Lower than expected demand for the Product of course Black Rock could still Seed the ETF with more Capital meanwhile Bloomberg's other ETF analyst Eric Balunas highlighted the sec's recent Educational tweets about crypto he said The SEC did something similar before the Bitcoin Futures ETF was approved in 2021 obviously there were questions About whether this could be pure Speculation in any case the revelations From James and Eric appear to propel BTC To its highest price in over a year and A half for context there is evidence That crypto trading Bots are buying BTC Based on the tweets made by James and Eric however it appears there were Strong macro factors at play too for Instance the dxy which measures the

Strength of the US dollar saw a huge Drop on the on the same day that BTC Almost touched 45k for reference crypto Prices are inversely correlated to the Dxy in fact it's the same is true for Most risk assets when the dxy Rises Other assets tend to crash and vice Versa it's a similar story for long-term Interest rates in the US as measured by The yield on the 10-year treasury as you Can see the 10-year yield fell almost on The same day that BTC pumped the most You'll also notice that this seems to Have marked a local bottom for yields Given that the dxy also appears to have Hit a local bottom this could foreshadow A sharp correction in crypto and stocks Where the dxy in years ago however Ultimately depends on what the FED says In its next meeting but the BTC chart Does suggest it could be on the brink of A 10% correction now as you can see BTC Appears to have painted a double top Pattern over the last couple of days if This turns out to be the the case then BTC could see a pullback down to around 40K which is coincidentally where the Ballinger band moving average is note That liquidations could take prices a Little lower and if you also want to Capitalize on this correction you can Check out the coin buau deals page it's Got trading fee discounts of up to 60% And bonuses of up to

$40,000 on the best crypto exchanges This offer is only available for a Limited time so be sure to check it out In the description before it's too late Anyways the fact that BTC has been Chopping mostly sideways over the last Week has been rocket fuel for altcoins And it looks like some of this fuel is Finally starting to find its way into e Like BTC eth recently hit its highest Price in just over a year and a half Just north of 2400 to be exact Unfortunately eth appears to be painting A similar double pattern which is much More VIs ible on the 4our chart this is Further evidence of the idea that the Crypto Market could see a long overdue Correction in eth's case it could fall Back down to around 2100 consistent with A 10% pullback if you've been keeping up With our weekly crypto reviews however You'll know that the eth BTC chart is The one you need to watch that's because It gives you a sense of how eth and Altcoins are looking relative to BTC by Now you'll know it's not looking good Eth BDC is still in a really big Downtrend as you can see eth BDC price Action on the weekly looks eerily Similar to the price action that eth saw When Tera collapsed last May the Difference is that back then eth quickly Recovered against BTC today it looks Like eth is going to roll over from

These levels which could be bad news for It and other alts the issue is that this Doesn't mean the eth and ALS will crash In dollar terms per se it could also Mean that the BTC relative rally to eth And outs which certainly has been the Case before if eth can hold its ground Against BTC in an upcoming correction Then it means that e rotation is here It's also important to remember that eth Could soon get a spot ETF of its own in Case you miss the news the SEC recently Delayed gray scales application to Convert its ethereum trust into an ETF For those unfamiliar Grace scale Recently won a case against the SEC over Its Bitcoin trust conversion to refresh Your memory the judge basically ruled That the SEC had to provide a better Explanation for why it rejected Grayscale's Bitcoin trust conversion Application the SEC failed to appeal the Judge's decision which has put the Bitcoin trust conversion back on the Table albeit with an unknown date Regardless the fact that grayscale beat The SEC in court about the Bitcoin trust Conversion as essentially means the SEC Is going to have a hard time rejecting Its ethereum trust conversion that's Simply because the SEC could find itself Right back in court where it would Likely lose due to the precedent that Has been set what this means in

Practical terms is that a spot ethereum ETF conversion is not a question of if But when this is something that's been Arguably being underpriced by the market Still there's also no question that Ethereum is facing its Fair share of Risks from a more fundamental Perspective the elephant in the room is Blast an upcoming layer 2 which has Acrew over $800 million in total value Locked at the time of shooting most of This tvl consists of eth being State Through leader of Finance which has led To concerns about what would happen to St eth if something happened to blast It's safe to say that it would be Somewhat ironic if East price imploded Because of a Layer Two called Blast by The way if you're enjoying the video so Far smash the like button to give it a Boost now another reason why eth has Been underperforming other altcoins is Because there's been lots of exciting Updates coming out of other ecosystems The most obvious one to mention here is Salano where many of the largest crypto Projects have begun airdropping their Tokens to early users this string of Airdrops seems to have been inspired by The pith Network airdrop last month Which saw a whopping $77 million of pith Tokens air dropped 2 thousands of defi Users across multiple chains fun fact The pith airdrop was technically the

Largest cross-chain airdrop in crypto And yet it PED in comparison to the gito Airdrop which saw over $225 million of Token airdrops to users of the liquid Staking protocol the enormous value of This airdrop was likely because coinbase Immediately listed gito after its launch Odds that coinbase hasn't listed pith Anyway the successful airdrops of pith And gito have inspired other salano Projects to follow suit including Camino And Jupiter at the same time top crypto Projects in ethereum ecosystems have Started announcing airdrops of their own Notably starnet and layer zero both Layer twos I'll quickly note that we Recently did a salana update and you can Find the link to that in the description Now this back the question of what you Can do to maximize your airdrop returns For starters you want to make sure You're actually using crypto and not Investing in it put differently take Some time to actually use DBS and Protocols on the blockchains that you're Bullish on if you've been doing this Already then it is worth checking to see If you're eligible for any of these Recent airdrops some coin buau team Members received the pth airdrop and They didn't even know they were eligible Just make sure that you're not Accidentally being being scanned by a Fake airdrop page and if you haven't

Been using dabs and protocols on your Favorite blockchains then now is the Time to start while it's too late to get The airdrops for some of the projects I've just mentioned it's still really Early to get involved in other Ecosystems that are only just starting To grow such as cardano it goes without Saying that you want to make sure the Daps and protocols you're using are Legit before you connect your wallet to Them and you should always be aware of The risk involved in using them if you Need some help you can check out our Video about how to find airdrops using The link in the description oh and one More thing remember that receiving an Airdrop could be a taxable event in your Country so make sure to check with an Accountant after you receive one the Last thing you would want to do is have Your hard eared free money taken away by The tax man better safe than Sorry any who you'll recall that it's Not just crypto specific factors moving The crypto Market anymore this is Because institutional investors are Starting to get more involved they see Crypto as like being a higher risk Tech Stock which would explain the recent Increase in correlation between the two What this means is that you're going to Have to start paying more attention to Macro factors as part of your crypto

Analysis besides the dxy and long-term Interest rates the two you need to watch Most are economic statistics Specifically us unemployment and Inflation statistics specifically us CPI That's because these are the two factors Which influence the fed's interest rate Decision although the FED can only Affect short-term interest rates these Rate Heights can still influence Long-term interest rates the same is True for the fed's forecast for how they See employment inflation and rate Changing that's why this week's fed Meeting is going to be so important it Will include a summary of economic Projections or SCP now given that Investors are currently expecting the FED to start cutting interest rates next Year an SCP showing continuously High Rates could spook the markets the same Will be true if fed chairman Dron Powell Starts being hawkish are you talking in A way that implies the FED will keep Interest rates higher for longer or even Raise them again now some analysts Believe there's a chance Jerome will Actually do this given what we've been Seeing with employment and inflation According to the November jobs report US Unemployment just fell to 3.7 according To the October CPI headline inflation Fell to 3.2% and core inflation fell to 4% to put things into perspective the

Fed's unemployment Target is 4% and Inflation Target is 2% what this means is that the FED Likely wants unemployment to rise Further and inflation to continue Falling that's because from the fed's Perspective a strong economy risk Creating another wave of inflation FYI Declining unemployment is a sign of a Strong economy as it means lots of jobs The FED also likely takes an issue with The recent rally in stocks and crypto as Well as a decline in long-term interest Rates that's because the FED believes a Market rally could fuel inflation and The FEDS recently said it would stop Raising rates because long-term interest Rates were rising and now they're Falling the key takeaway is that it's Possible the FED will say or do Something that would suggest is going to Either keep rates higher for longer or Even raise them again this would likely Take the markets by surprise and likely Be the Catalyst for the correction in The charts that we saw earlier now from Our perspective this fundamentally Depends on the inflation print the day Before if you're subscribe to our Newsletter you'll know that the CPI for November will be published the day prior To the fed's meeting and press Conference you'll also know how it could Affect the markets you'll even know

About another big Catalyst that could Happen between now and Friday so be sure To subscribe to our Weekly Newsletter Using the link in the description and Ensure you don't miss the next big one With all that said it's about time we Take a look at last week's top Performing cryptos these were bit Torrent Bonk helium ordinal and cardano A peculiar combination to say the least Starting with bit torren its BT token Appears to have pumped due to two Governance proposals the first one was To increase compatibility with Amazon Web services and the second was to Support encrypted F sharing on the bit Torrent protocol btc's pump was so Parabolic that we had to go to the Longterm charts just to get a sense of How large it was this larger of a perp Could be followed by a pullback that's Just as big but at this point there's Really no telling how high or low BT Could go it's a similar story for Bonk Which is a meme coin on salana its Bonk Token appears to have rally due to an Exclusive Bonk thieved Ford ape yor Club Nfts as with BTT Bon's price has gone Parabolic the difference is that Bon is Hitting alltime High After alltime High It's possible that Bon could go higher If Saul continues to Rally but most of You will know that investing in meme Coins is no different from

Gambling as for helium its h&t token Appears to have pumped on the news that Its lowcost peer-to-peer Mobile plan has Been rolled out Across America helium Has been testing its lowcost Mobile plan With T-Mobile in Miami I'll note that we Said h&t was a major project in sana's Ecosystem in our recent update as Impressive as h&t pump has been it's Still faces lots of resistance on the Way up and if it fails to hold $4 it Could lose most of its recent gains this Slightly depends on whether we get a Correction and how much this correction Could affect sana's ecosystem regarding Ordinal its a token continued to rally On the hype around the recent binance Listing and the continued hype around Ordinal nfts on bitcoin the hype around Ordinal nfts have apparently revived the Debate about whether ordinal are an Exploit of bitcoin's code more about That in the description as you can see Audi looks no different from Bon on the Longterm charts it continues to hit new All-time highs and there is no telling When the current rally could stop some Would say that $1 billion is a big Market cap for an nft token at this Point in the crypto Market Cycle last but certainly not least we Have cardano whose Ada coin appears to Have pumped due to the introduction of Cardano ballots a new technology that

Makes transparent voting on the Blockchain possible you know it is a Little bit funny that governments can do Cbdcs but not transparent onchain voting Anyhow Ada is breaking out on almost Every time frame and it looks like there Isn't much resistance in its current Price and $1 this means that ADA could Experience another pump of more than 50% But again this could be delayed if we See a broad crypto Market Correction and if you want to know which Cryptos are pumping and also where you Can trade them be sure to join the coin Buau telegram channel the link will be In the Description and that's all for today's Coin buau 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 changes only For the viewers of this channel also if You do want to pick up some snazzy Crypto merch the coin bu merch store has All 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


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    • bitcoinBitcoin (BTC) $ 69,672.00 4.76%
    • ethereumEthereum (ETH) $ 3,611.77 4.88%
    • tetherTether (USDT) $ 1.00 0.09%
    • bnbBNB (BNB) $ 631.25 5.34%
    • solanaSolana (SOL) $ 158.75 8.25%
    • staked-etherLido Staked Ether (STETH) $ 3,610.74 4.87%
    • usd-coinUSDC (USDC) $ 1.00 0.08%
    • xrpXRP (XRP) $ 0.494667 4.27%
    • dogecoinDogecoin (DOGE) $ 0.149397 10.9%
    • the-open-networkToncoin (TON) $ 7.54 10.29%