Crypto News: Bitcoin PRICE, Spot ETH ETF, Solana, China & MORE!!

Foreign Bureau Weekly News Roundup here are the Top stories in crypto this week Crypto chop continues coins and tokens Continue to trade sideways in the Absence of any major macro or crypto Factors why are Bitcoin and ethereum's Dominance declining Spot ETF arkinvest and Vanek file for two Spot ethereum ETF applications after Asset managers overload the SEC with Applications for swap Bitcoin ETFs when Could these eth products be approved Obsessed with Solana Visa announces usdc Payments on the controversial ethereum Killer as coin shares find soul to be The most love altcoin among institutions What does this mean for Souls price China versus Apple the world's second Largest economy starts to ban products From the world's largest company amidst Escalating geopolitical tensions 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 Jessica and In case you didn't know guy is with the Rest of the team in Singapore this week So I am holding down the fort we hope to Be getting updates from him over the

Week as always everything in this video That follows is educational content not Financial advice you can find any of the Topics you're looking for using the Timestamps in the video timeline and now For today's top stories Last week the crypto markets continued To chop sideways save for a few altcoins Which I'll come back to later now this Relative lack of volatility can give the False impression that nothing is going On in the crypto Market but as decrypt Recently reported there seems to be Something Brewing beneath the surface Now this begs the question of what that Something is the answer ultimately Depends on what indicator you're looking At the one that caught my eye last week Was the continued decline in both Ethereum and Bitcoin dominance a decline Which happened with a relatively steady Market cap there are only two things That could have caused this the first Could be that there has been an increase In the total stablecoin market cap this Doesn't seem to be it because the market Cap of most stable coins actually seems To be on the decline this is likely due To the most recent round of crypto Liquidations This leaves only one other possibility And that is the altcoins our gaining Market share from BTC and Eve in other Words we're in a mini art season

This makes sense considering that we've Seen no shortage of bullish headlines About altcoins lately of which I'll come To in just a moment Now what's interesting here is that this Apparent increase in altcoin dominance Is similar to what we saw back in 2019 For context it's generally believed that We're in the 2019 phase of the current Crypto cycle if this is the case though Then the recent increase in altcoin Dominance could be short-lived that's Because the closer we get to the Bitcoin Halving the more Focus will turn away From altcoins and towards BTC This would explain why most altcoins Continue to look extremely weak compared To BTC including if Many of you will know this is something That guy has been keeping track of Lately many of you will also remember That altcoins being weak against BTC Doesn't mean they can't pump in fear Terms it just means that most of the Capital that's coming into the crypto Market is being directed to BTC and Other large caps something that's Expected given the absence of retail Interest but as we've seen all it takes To get retail investors interested again Is an extremely bullish or bearish Crypto Catalyst there has been no Shortage of either recently if you Subscribe to our newsletter you'll know

Which Catalyst could move the crypto Market this week As is often the case those catalysts Seem to be lining up with btc's recent Price action which is finally painting a Clearer picture on the daily as you can See it appears that BTC is forming a Head and shoulders there for reference a Head and shoulders is a bearish chart Pattern of course one bearish indicator Isn't enough to draw any concrete Conclusions but two certainly adds to The evidence I'm referring to the death cross that BTC is slowly but surely forming on The Daily some of you might recall that Eve Had painted a death cross on its daily Chart last week this is more significant Than you think because it seems that eth Has been leading the crypto Market Lately If this is still the case then BTC it Could paint its own death cross in the Coming days The caveat is that eath didn't crash After its death cross it's possible that BTC won't crash after its death cross Either Then again maybe the missing ingredient Is thyme we'll find out soon enough Speaking of eth one of the main reasons Why the death cross didn't take its Price down could be because of all the Bullish news that came out last week for

Starters asset managers are confess and Vanek filed for the first two spot Ethereum ETFs with the SEC this is Significant for three reasons first it's Believed that other asset managers will Follow suit now that these two Titans Have thrown down the gauntlet your Recall that this is exactly what Happened with blackrock's spot Bitcoin ETF application all the other asset Managers jumped on the bandwagon this Ties into the second reason why these Filings are significant and that is that The recent spot Bitcoin ETF filings Theoretically increase the chances that A spot ethereum ETF will be approved the Fact that Arc and vanak went into all The effort of filing suggests they Believe this is a real possibility the Third reason why these 5 filings are Significant is a caveat of sorts because The SEC still hasn't approved any Theorem Futures ETF now there have been Rumors that this approval could happen In Autumn but it seems that the SEC Would approve a Futures ethereum ETF Before a spot ETF just as they did with Bitcoin the timeline of all of these ETF Filings looks fascinating though a Bitcoin Futures ETF in late 2021 Potentially an ethereum Futures ETF Later this year followed by a possible Spot Bitcoin ETF early next year a spot Ethereum ETF would likely come sometime

After that but it's hard to say how long The wait would be Now I'd be remiss if I didn't mention a Couple of other ethereum headlines that Seem to have been overshadowed by all of The ETF chatter earlier last week Ethereum's creative italic buterin Proposed making it easier for users to Run ethereum nodes to increase the Blockchain's decentralization For those unfamiliar almost 60 of Ethereum nodes are currently being Hosted on Amazon web services or AWS a Centralized Computing Cloud if you've Watched our video about crypto Decentralization you'll know that Centralization at the node level is an Issue even among major crypto projects Metallic solution would involve So-called stateless nodes which would Make it possible for anyone to verify The validity of the blockchain without Having to store it in its full Transaction history If that sounds futuristic that's because It is metallic doesn't think this Solution will be possible anytime soon However there is another Innovation that Vitalik has been working on which could Find its way into ethereum soon and that Is privacy pools as the name suggests Privacy pools make it possible to Preserve privacy on ethereum much like Tornado cash but with one key difference

Privacy pools will make it possible to Mix cryptos that only come from honest Users malicious users who try to mix Their crypto with privacy pools will Have a hard time This contrast with tornado cash which Allows anyone to mix their crypto Including North Korean hackers the Result was tornado cash being sanctioned In the U.S Obviously this promising technology Simultaneously raises lots of concerns Such as who decides who counts as an Honest user Setting these limitations could turn Into a slippery slope wherein say any User who hasn't connected their crypto Wallet to a government-issued digital ID Is automatically malicious Even so it's a step in the right Direction and it relates to the Predictions that we've been making about Privacy in recent months we predicted That crypto projects would start to Implement privacy Solutions due to Demand by institutions and Wealthy Individuals this prediction seems to be Coming true That Saudi theorem's recent updates Could just as easily be reflective of The intense competition that we're Seeing in the layer 1 landscape Solana Was once believed to be one of Ethereum's top competitors the keyword

There is was after the collapse of FTX And Almeida Solana seems to have fallen Off the radar if you watched our video About the impact of FTX and our media on Solana you'll know that both companies Held around 15 of sold total Supply this Salt was now at risk of being liquidated As part of the bankruptcy proceedings And that could suppress Source price Action to put it mildly and yet Solana Seems to have held up quite well given The circumstances earlier this year it Launched its crypto phone dubbed Saga And it finally launched its evm Compatible layer called neon Souls price Action has also held up quite well Despite it being labeled as a security By the SEC during this time if you Watched last week's crypto review you'll Also recall that make a dial one of the Biggest D5 protocols on ethereum worth Considering starting its own Solana-based blockchain to clarify it Wasn't planning on migrating to Solana Just forking its code still it Underscores the appeal of Solana's Tech On the same day we were pushed that Crypto review coin shares revealed that Seoul is and I quote the most loved Altcoin among investors this is because Investors haven't withdrawn nearly as Much from solana-based funds as they Have from other altcoin funds in fact Solana's funds have seen net inflows

Year to date Then just one day later it was reported That Visa would be testing usdc payments On Solano to put things into perspective One of the major selling points of Solana is that it could become a robust Payment Network this selling point Seemed dead after FTX but it has been Resurrected in a big way As a cherry on top the team behind Leader Finance ethereum's largest D5 Protocol requested funding to expand the Protocols support for Solana This is strange considering that stake Soul is only locked for a few days but Nonetheless it highlights the fact that There is a demand for Saul these days It's also a warning for ethereum which Has been trying to position itself as The ideal crypto blockchain for payments As Visa is finding out however if fees Can add up and even if these fees can be Abstracted in any way with the help of Smart accounts people aren't Keen to pay The premium There is just one bear in this bullish Story and that's the number of active Wallets on Solana has reportedly been on The decline not only that but stable Coins aren't exactly in the clear from a Regulatory perspective it's hard to see Mass adoption scenarios against this Backdrop but that doesn't mean that Solana won't see Mass adoption in the

Future as we've been saying for months Now so long as Solana can survive the Bear market then there's a high chance That we'll see some big gains during the Bull market That's simply because it's one of the Most speculative pays Once Upon a Time Scriptures that promised to be better Than Bitcoin Works their case of plays Then it was cryptos that promised to be Better than ethereum The last few layer ones seem to have Promised to be better than Solana namely Aptos and sui in a weird way this could Be a bullish sign for all three coins Moving on the U.S China geopolitical Tensions appear to be getting worse the Origin of these tensions is admittedly Complex but the key takeaways is that They serve purpose both domestically and Internationally Take China's recent move to ban iPhones For example at the time of shooting China has banned various government Employees State officials and even some Government-backed firms from using IPhones FYI if you're a large firm in China chances are your government backed There's no doubt this is a big deal and It's a deal that's getting bigger by the Day from an international perspective This looks like China retaliating Against the United States for the Latter's continued sanctions against the

Chinese Mainland particularly around AI Chip exports It could also be China trying to prevent Any potential U.S surveillance of key Officials and operations from a domestic Perspective however this could be China's way of forcing its top officials To buy Chinese phones something that They've desperately needed given the State of the Chinese economy it's also a Way of ensuring that more CCP domestic Surveillance of key officials and Operations Chances are that both explanations are Partially correct but it's arguably Irrelevant that's because it's having The Practical effect of crashing Apple's Stock price and creating uncertainty Among other U.S tech companies that's Having lots of exposure to China which Is basically all of them as I mentioned In the introduction apple is currently The world's largest company by market Cap this makes it the Bitcoin of the Stock World Bitcoin has a profound Impact on the crypto Market the same is True for Apple albeit to a lesser extent When tech stocks are supporting the Stock market though it matters At this point in the parent conflict Though the ball is in the US's court if U.S retaliates by imposing some more Sanctions on China then China will Respond in kind this has been happening

For months and it only seems to be Getting worse the scariest part is that Apple can see the writing on the wall as You might have heard Apple has been Trying to migrate manufacturing out of China and into India which just so Happens to be an ally of the US this is Analogous to countries around the world Making their own microchip facilities It's a task at admission that tensions With China will continue to increase the Assumption is that these tensions could Escalate to an actual War but an Economic War would be devastating for Everyone involved at the end of the day China needs US Dollars and the U.S needs Things that China is producing it's a Mutually assured economic destruction so To speak then again maybe it just boils Down to the question of which country Can your more economic pain from the Outside looking in it looks like China Can withstand a more social unrest than The United States from the inside Looking out though China already seems To be at the brink of another Revolution Geopolitics aside last week's top Performing cryptos were Stellar random Network synthetics rocket pool and Astor Network Starting with Stella it's excellent coin Appears to have pumped in response to The speculation that the crypto project Is about to make a big announcement

Related to the tokenization of real World assets the Stella Foundation has Been teasing about this announcement on X and will be made tomorrow xlm's price Action is still looking strong in the Short to medium term but it seems to be Struggling to get above the key price Level of around 14 cents Depending on what tomorrow's Announcement is it could be a sell the News event or it could be a bullish Catalyst that pushes xlm through this 14 Cent resistance level Next up we have rander Network whose Rndr token pumped for unknown reasons Our best guess though is that it's Related to the use case that the crypto Project has been showcasing on its X Profile in recent weeks in contrast to Xlm rndr is looking weak in the short to Medium term that's because it's far Below the Bollinger band moving average On the weekly the Silver Lining is that This recent rally could be a sign that a Big announcement is coming and insiders Are positioning themselves accordingly As for synthetics it's snx token appears To have pumped in response to the news That the derivatives Dax has approved 19 Additional markets for trading now it's Worth noting that dexes have been doing Quite well these days probably because There have been a serious concerns about Centralized exchanges in any case like

Rndr snx is looking quite weak on The Daily and the weekly on The Daily it Seems to be on the brink of breaking Below the Bollinger band moving average Whereas on the weekly it was recently Rejected on the Bollinger band Hopefully a bullish Catalyst will come Around Regarding rocket pool it's RPL token Appears to have pumped in response to The news that it's made possible to Transfer its rat stick if tokens to base Coinbase's new layer 2 for ethereum be Sure to check out our video about base If you haven't already the link will be In the description now in terms of price Action RPL is pretty rough as you can See it's been crashing for months and Its price continues to squeeze to the Downside it's seen a few rallies in Between which were probably driven by Short squeezes the chances are this is What caused the big rally in RPL last Week Finally we have Astor Network who's astr Coin appears to have pumped in response To the news that a project plans to make A big announcement at the token 2049 Conference in Singapore as I mentioned Guy and a few of the other members of The team will be there be sure to say hi If you see them now as far as price Action goes astr is looking neutral on The weekly chart it's sitting just above

The bunch of band moving average and Seems to be squeezing this means that it Could see a sharp move on the upside or The downside Something tells me the upcoming Announcement will be the catalyst and if You want to know why cryptos are pumping In real time be sure to join the coin Bureau Insider telegram channel the link Will be in the description Well that's 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 the 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 more in the description below thank You so much for watching and I'll see You in next week's episode