Crypto News: Bitcoin Rally, ETH Predictions, ADA, SEC & More!

[Music] Foreign To the coin Bureau Weekly News Roundup Here are the top stories in crypto this Week Crypto Market pump BTC settles above 30k After successive short squeezes setting The stage for a highly anticipated Altcoin season when could the next Crypto bull market begin or is it here Already Ethereum upgrade complete eth takes off Following a successful chappella hard Fork as validators and exchanges line up To withdraw their stakes and rewards how High could eth go in the short term Defy Under Fire the SEC seeks to change The legal definition of an exchange Following an eight-figure exploit of Yield aggregator yearn Finance Everything you need to know Inflation to recession investors start To digest inflation data differently as They begin to realize that an Unprecedented recession is approaching Why crypto could be more resilient than Other assets And we journey deep into the cryptoverse Aboard the Good Ship then Cowan all this And More in just a moment Good morning afternoon or evening thank You for tuning in my name is Guy none of What follows his financial advice and Here is the news

Last week BTC blew past the key price of 30k taking it to levels not seen since Last summer the massive rally was Accompanied by a sharp decline in Bitcoin dominance which had likewise Risen to multi-month highs this decline In Bitcoin dominance could be an early Sign that altcoin season is imminent Besides short squeezes from over Leveraged Traders the cause of the BTC Rally was likely a combination of macro Related data for starters consumer Inflation and producer inflation for March both came in much lower than Expected this means there's a higher Chance the FED will pause at its May Meeting The altcoin rally is where things get Interesting though it seems to have been Caused by the success of ethereum's Chappella upgrade which we'll come back To in a moment all I'll note for now is That eth was the first altcoin to get a Boost which of course makes sense given The circumstances As you can see eth has been rapidly Gaining in BTC terms over the last seven Days a welcome sign given that it had Been rapidly losing value leading up to Chappella likely due to the uncertainty Around the upgrade The Bollinger band moving average Suggests eth could soon reclaim 0.07 BTC Similar gains in BTC terms have been

Seen with most major altcoins this could Also be due to the relief that followed The ethereum upgrade for context there Were concerns that the SEC would Scrutinize eth after the upgrade given That chairman Gary Gensler had said all Proof-of-state cryptos are securities It's not surprising then that most of The biggest gainers over the last week Have been other popular proof-of-state Cryptocurrencies such as Solana as well As layer 2 scaling solutions for Ethereum such as arbitrim however this Does not mean that BTC couldn't continue To Rally in the short to medium term The Bollinger band moving average on Btc's monthly chart currently sits Between 33 and 34k given that actual Technical analysis experts are eyeing The same price points I reckon my Vantage point may be valid even so I Can't say whether BTC will breach this Key price barrier or get rejected by it For that info you'll have to keep up With our new technical analysis Channel Coin Bureau trading trust me when I say That we took our time finding someone we Believed was good enough at technical Analysis to join the team Dan is the man And you can check him out using the link Right over here in the top right Now the last thing I'll mention about The crypto Market is that the recent Revival of so-called ethereum Killers we

Really should stop calling them that Suggests that speculation is back on the Menu this is further confirmed by the Crypto fear and greed index which is Thoroughly greedy this could mean a Correction is coming so be very careful As to whether we're in a sustained bull Market well that's up for debate crypto Is still facing regulatory scrutiny and Interest rates are still Rising until The crypto and macro fundamentals change Or BTC sees a monthly close above 33 to 34k we should remain cautiously Optimistic I'll be sure to let you know When this changes But back to ethereum In case you missed the memo it is now Possible to unstake your eth and claim Eth-staking rewards you've earned This is thanks to the chappella upgrade Which was successfully completed on the 12th of April coincidentally the same Day that the March CPI was released What's strange is that eth's price Didn't initially react to either of These two catalysts I suspect this is Because the chappella upgrade was Completed late at night and the crypto Market itself is less correlated to the Stock market than it used to be This means it's less reactive to Macronus like the CPI in any case within 24 hours eth had taken off like a rocket This was even stranger because by that

Point almost two billion dollars of Staked eth and the resulting rewards Were waiting to be claimed note that you Can track this using the ethereum Shanghai unlock dashboard by token Unlocks Link in description Now if you've been keeping track of eth Unstaking you'll know that most of the Eth that's been claimed so far is Staking Rewards This is significant because it means That most ethereum validators are Continuing to stake chances are most of The ether rewards they're claiming are Being staked to now the Practical effect Of this is that there hasn't been nearly As much selling pressure as some Speculators had anticipated at the same Time the success of the chappella Upgrade has increased confidence in Ethereum from both retail and Institutional investors alike this is Likely causing the current rally the Bollinger band moving average on eth's Monthly chart currently sits between 2.3 And 2.4 K as with BTC this moving Average has served as a key zone of Support and resistance for eth Logically then eth faces the same hurdle As BTC in the short to medium term can It get above that key price point Well this ultimately depends on what Happens when exchanges and liquid Staking protocols start allowing their

Users to withdraw their staked eth and Any eth rewards Something tells me that most of the People staking their eth using a third Party aren't as hardcore as ethereum Validators this means that the eth Staked with third parties could be more Prone to selling case in point Kraken Alone is expected to unstake over one Billion dollars worth of eth following Its recent run-in with the SEC over its Staking products the Silver Lining is That a limited number of eth can be Unstaked each Epoch which will reduce The impact of any selling not only that But coinbase and Lido Finance both said That it will take weeks or even months To process all staked eth withdrawals This will further reduce the impact of Any selling the only wild card in this Equation seems to be binance which will Begin eth unstaking this Wednesday so Take note Also keep in mind that there are other Things that could affect eth's price Most of crypto's ecosystem lives on Ethereum including most of the stable Coins in circulation If you've been keeping up with our Coverage of the crypto Crackdown you'll Know that stable coins could be next on The Chopping Block any Crackdown on Stable coins could do damage to eth's Price this is because stable coins and

Eth have become intertwined in Ethereum's D5 protocols This is especially true when it comes to Borrowing and lending protocols where Eth is often used as collateral to Borrow usdc and vice versa unfortunately Defy borrowing and lending protocols Have recently experienced their fair Share of hacks and exploits the most Notable of these was the recent exploit Of Euler Finance which resulted in 200 Million dollars of losses Fortunately Euler convinced the Exploiter to return the funds with a one Million dollar Bounty unfortunately the Individual or group which recently Exploited popular yield protocol yearn Finance for over 11 million dollars is Unlikely to do the same given that They've since moved some of these funds To tornado cash fortunately Ave was not Affected by the exploit which was Everyone's main concern regardless these Hacks and exploits have been inviting Even more regulatory scrutiny of what is Arguably the most important niche in Cryptocurrency take a second to consider That the purpose of D5 protocols is to Literally replace institutions in Traditional Finance which offer the same Services This is something that Regulators are Hyper aware of and recently they've been Turning up their anti-defy rhetoric to

11. One of many recent examples comes from France where the central bank is Demanding that D5 protocols incorporate Themselves as financial institutions and Abide by regulations this announcement Is believed to be related to the U.S Treasury Department's recent declaration That Defy is a national security risk Due to its lack of kyc and AML and its Resulting use by sanctioned entities I'll be doing a deep dive into the Treasury Department's defy report Tomorrow so stay tuned for that now if That wasn't bad enough the SEC is Apparently planning on changing the Legal definition of exchange so that it Applies to D5 protocols this was Revealed by SEC chairman Gary Gensler in An open meeting after the meeting the SEC published an announcement that defy Protocols should register or else This all suggests that governments are Getting serious about cracking down on Defy obviously this is easier said than Done particularly when it comes to D5 Protocols that are decentralized however Even the most decentralized protocols Have a centralized Achilles heel and That's stable coins As I hinted a few moments ago usdc is The most popular stable coin in defy Although it's possible that usdc will be Protected due to circles connections to

The likes of BlackRock the same can't be Said for other centralized stable coins In the United States recall that the SEC Is in the process of pursuing paxos To my mind a stablecoin Crackdown in the United States is not a question of if But when the who is again probably paxos And that could be sufficient to cause Concerns for usdc if usdc were to Experience another deep pegging due to These concerns it could cause issues in Defy by extension You can learn more about usdc's recent Debegging and whether it could happen Again using the link in the description Now before Ben brings the heat I want to Discuss a possible change in the markets That's quite alarming as some of you Will know bad news has been good news Ever since the FED started raising Interest rates this is because investors Assumed bad news meant a pause or pivot By the Fed Now call me crazy but I think this is Starting to change my evidence for this Is the macro data we got last week Including those aforementioned inflation Figures For starters the markets didn't rally Nearly as much as you'd expect on the News of a much lower than expected CPI And PPI for March investors even Increased their expectations of another Rate hike at the fed's meeting in May

Lower than expected inflation should Have decreased these expectations now This could be explained by the big Bank Earnings for q1 which suggests Banks Aren't tightening lending that much more Work for the FED what's harder to Explain however is the Market's reaction To the sharp decline in consumer Spending in March normally a one percent Decline in retail sales would have Resulted in a market rally on the hopes Of a dovish Fed instead the markets Dipped due to recession fears and not Just in the United States Put simply it looks like bad news is Starting to become bad news again Now this could be bad news for the Markets because there seems to be lots More bad news on the horizon If you watched yesterday's video about Commercial real estate you'll know the Sector May collapse even if interest Rates come down Meanwhile geopolitical tensions continue To rise and this is guaranteed to lead To lots of investor uncertainty now for Those who don't know uncertainty is Kryptonite to investors they can deal With bad news they can deal with good News but they can't deal with not Knowing which news is coming In addition to the offensives reportedly Being planned by Ukraine and Russia in The spring China has been rattling its

Saber more aggressively than usual Lately and the country recently expanded The military draft to include veterans And college students in the event of a Conflict with Taiwan North Korea also recently announced that Over 800 000 people had quote Volunteered to join the country's Military to fight the United States The Hermit Kingdom has likewise been Getting more trigger happy with its Missile tests which have resulted in Evacuations in nearby Japanese regions Then as a cherry on top you have all the Uncertainty around AI like chat GPT Which continues to face scrutiny around The world First it was privacy concerns and now Its environmental impacts While crypto is not nearly as correlated To stocks as it used to be an AI Crackdown could still do damage via tech Stocks So this brings me as to why crypto could Be resilient in the face of a recession And all this other uncertainty In short crypto is not reliant on Anything a recession or geopolitical Conflict could affect and it's extremely Sensitive to the stimulative measures The central banks are likely to take in Response to these factors Hong Kong will Also be opening its doors to crypto this Summer more about that later this week

So with all that said it's now time to Turn to Ben's amazing analysis of the Crypto Market take it away Ben Hey guy pleasure to be here as always Thanks for having me I wanted to speak a Little bit today about Bitcoin ethereum And cardano and looking at their Cycles As measured from one Peak to another if We look at Bitcoins measurements from Say prior Peaks until the next Peak this Is what you get now the first move back In you know 2011 and whatnot uh it sort Of falls off course compared to what We've seen for the last several Cycles So if we if we hide that one and just Sort of focus in on where we currently Are which is the green line right here You can still see that we're well within The context of what we've seen in Prior Cycles the orange line up here Representing the 2019 uh phase coming Out of the 2017 Peak this one over here Is sort of the 2015 2016 phase coming Out of the 2013 Peak and the green line Is is where we are right now so as Always Bitcoin behaves in a very Cyclical manner we have our bear Market Years we have our recovery years and I Imagine that it will continue to more or Less follow the the context of History If we look at ethereum we don't have as Much data to work with but we do have Some data and and you can see that at Least so far this this cycle which is

Sort of the reddish line reddish orange Line right here we haven't come down Nearly as what we did last cycle we are Coming up to a potential Um you know point where where last cycle We eventually did come back down before Ultimately going back up it's pretty Much in line with what we've seen before In recovery years we get a move to the Upside we get a move to the downside and Then the having years of Bitcoin we see Everything explode back up to sort of Much higher valuations I would generally Expect somebody to play play out in this In a very similar Manner and then also We have cardano which is interesting Because you know it hasn't stayed off of The lows uh to the same degree that Ethereum has at least so far but it has Experienced a somewhat somewhat of Impressive move recently off of off of These lows so you know one of the things That you can see throughout all of these Is that it's pretty standard to have Sort of your your down only year of 2014 2018 and 2022 you then get your recovery Year where we sort of just chop around For a while of course this year it's It's been you know more or less uh up For the most part at least for the last Three and a half months or so and then Following that again looking at ethereum And and Ada you also get sort of your Your your choppy year where we sort of

Chop around within a range but for Ultimately uh having a realistic attempt To break out of that range in in Bitcoins having year and and then of Course the year following the having Year but anyways thanks for having me on Guy pleasure to be here as always and I Will see you again next week bye Thank you Ben insightful as always Ben will be hosting our weekly live Stream on his channel this Thursday so Please do drop by if you can 9 A.M Eastern 2 p.m GMT 8 PM ICT and that is All for today's coin Bureau weekly Crypto review if you enjoyed it you know What to do hit that like button Subscribe button and Bell icon too If you're looking to help those gains Grow then the coin Bureau deals page is Where you should go there are thousands Of dollars in bonuses trading discounts And products to help you trade like a Pro 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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    • bitcoinBitcoin (BTC) $ 66,727.00 4.13%
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