Crypto News: Bitcoin Rally, ETH Pump, USDT, Fed & MORE!!

Welcome to the coin Bureau Weekly News Roundup my name is guy and my name is Jessica here are this week's top Headlines in the crypto [Music] News prepare for launch BTC ralles in Response to more spot Bitcoin ETF news As investors begin to shift their focus To altcoins how high could BTC go Ethereum rotation imminent eth hits its Highest price in over a year and a half Caus an ecosystem tokens to pump where Is eth headed next usdt under scrutiny Us Regulators ask for more oversight Over offshore stable coins while tether Announces a change in Focus everything You need to know inflation cools down The fed's favorite inflation figure Continues to decline leading to Speculation about an imminent rate cut When could the money printer turn back On 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 almost hit 40K and It's possible that it has hit 40K by the Time you see this video now btc's rally Appears to have been due to the Confirmation that the next window for The SEC to decide about the pending spot Bitcoin ETF applications will be between The 5th and the 10th of January these Dates are significant because of

Bitcoin's History although bitcoin's Genesis block was created by Satoshi Nakamoto on the 3rd of January 2009 it Wasn't until the 8th of January that Satoshi announced that Bitcoin had been Launched and the first Bitcoin block Wasn't actually mined until the 9th of January now given that the upcoming 5th Of January is a Friday this has led to Speculation that the SEC will approve All spot Bitcoin ETF applications on Either Monday the 8th of January or Tuesday the 9th of January that's simply Because it would Mark 15 years since Bitcoin was announced or since the first Bitcoin block was mined respectively the SEC purposely approving all spot Bitcoin ETFs on these dates sounds a bit Ridiculous Until you realize that SEC Chairman Gary gendler used to teach Crypto and blockchain at MIT The full course is actually still Available on YouTube for free and if You've watched it already you'll know Gary spoke highly of Bitcoin so this Begs the question of what will happen to Btc's price between now and early January the answer depends on whether The recent rally has mostly priced in The possibility of an approval if it has Then it's possible that BTC will Continue to trade around 40K until the End of the month if you watched our Video about how to trade crypto you'll

Know that when BTC goes up or Trad Sideways then money starts to flow into Alts while we've already seen a lot of This over the last few weeks the altcoin Flows we could see from BTC trading Sideways at 40K could be enormous make No mistake it's possible that BTC could Simultaneously continue to creep higher The monthly chart suggests that it could Go as high as 45k at that point it's Possible that BTC could then see a Pullback the Catalyst for this could be Another round of ETF delays from the SEC Which is very possible now what's Fascinating about btc's recent price Action is that it looks eerily like its Price action during the 2019 bare Market Btc's RSI reading on the monthly is Almost identical to it as well this is Additional evidence to the idea that BTC Could see a pullback due to an ETF delay Or otherwise and if you want to trade What happens between now and then be Sure to check out the coin Bureau deals Page it's got trading fee discounts of Up to 60% and bonuses of up to $440,000 these deals are available for a Limited time only so be sure to take Advantage of them ASAP Link in Description but back to those altcoin Flows if you've been keeping up with our Weekly crypto reviews you'll know that We've been keeping a close track of Eth's price action over the last few

Months you'll also know that eth has Been underperforming relative to its Competitors well this could be about to Change that's because it looks like eth Is finally breaking out as you can see It's broken cleanly above a key Resistance level around 2100 and is Squeezing to the upside on the daily Chart depending on how you measure the Recent pattern be it a bull flag bag or A triangle eth could go as high as 2500 this is further evidenced by the Eth BTC chart on The Daily which Suggests that eth could be about to Squeeze to the upside against BTC Notably this also foreshadows the Possibility that BTC will trade sideways While altcoins rally in case it wasn't Clear enough eth could benefit the most From this however if you're looking for The cryptos that could benefit the most From this in percentage terms then you Must go further down the risk curve as I Mentioned earlier if eth rallies then It's likely that the tokens in its Ecosystem will rally even more Particularly defi tokens and governance Tokens for layer 2os depending on how Long and hard eth rallies for we could Even start to see the more speculative Capital rotate out of these Blue Chip Ethereum crypto projects and into new And exist existing meme coins it appears That this is exactly what happened when

Soul rallied one month ago its mem coins Also pumped note that we recently did an Update about Soul Link in description Now the only missing ingredient in this Equation is a catalyst that would cause Eth to outperform BTC well in case You've forgotten Black Rock and other Asset managers also recently filed for Spot ethereum ETFs I reckon it's about time we started Getting some bullish announcements about Those applications alternatively it's Possible that the bullish Catalyst could Come from within ethereum's own Ecosystem in case you haven't noticed The total value locked on ethereum's Layer 2s continues to hit new all-time Highs it stands to reason then that the Bullish Catalyst could come from this Rapidly growing Niche now believe it or Not it's possible that the Catalyst Could be related to blast the Controversial layer 2 which has Accumulated over $700 million in total Value locked the caveat is that Apparently Blast has only just started To hire developers to build its layer to So it seems that it won't be launching Anytime soon then again the Catalyst Could be as basic as eth holders using Their eth as collateral to borrow stable Coins and other cryptos in order to go Long this would make sense considering That eth's price is strongly correlated

To defi leverage the higher that eth's Price goes the more that leverage Increases and by the way if you're Enjoying the video so far be sure to Smash that like button to give it a Boost now speaking of Leverage if you Watched our video about stablecoin Market caps then you'll know that usd's Primary demand driver is leverage Trading as such usdt Supply hitting All-time high After alltime High Ultimately tells you that there is a lot Of demand for leverage in crypto right Now you'll also know that tether Actually announced that it would use a Portion of its profits to purchase BTC Every month now it's not entirely clear When tether's BTC buyers are happening But what is clear is that the company is Making a lot of profit it's earning a Massive yield on usd's $89 billion Reserve That's because usdt is backed primarily By US Government debt the same is true For most other USD stable coins like Usdc and Usdp the difference though in usd's case Is that tether is not based in the US Tether's continued accumulation of US Debt could therefore be a part of why It's been under scrutiny in case you Missed the memo Deputy treasury Secretary Wally Ado recently made Concerning remarks about so-called

Offshore stable coins which were a not So subtle reference to tether quote we Cannot allow dollar backed stablecoin Providers outside the United States to Have the privilege of using our currency Without the responsibility of putting in Place procedures to prevent bad people From abusing their platform note that we Tweaked that quote slightly because of YouTube's guidelines for context us Politicians recently called on us Authorities to investigate tether and Binance due to their alleged ties to bad People the mainstream media has also Been pushing constant fud about binance And tether's involvement in illicit Activities funnily enough these Headlines appear to have stopped after Binance settled with us authorities a Couple of weeks ago if you watched our Video about that settlement you'll know That we speculated about the possibility That tether could still see additional Scrutiny you'll also know that tether Revealed in a blog post that it had Already been working closely with us Authorities to crack down on illicit Activity it seems though that this is Not enough for the treasury Department Which is now requesting additional Powers from Congress to go after the Offshore crypto industry the scariest Part is that what the treasury is Requesting sounds a lot broader than an

Old-fashioned crypto Crackdown quote we Are calling on Congress to create a Secondary sanction regime that will not Only cut off a firm from the US Financial system but will also expose Any firm that continues to do business With the sanctioned entity to being cut Off from the US Financial system now These Powers would be unprecedented so Much so that even the treasury Acknowledges that it's a big ask whether The regulator gets what it's asking for Remains to be seen but it looks like Tether isn't taking any chances it Sounds like the stable coin issuer is Starting to Pivot towards infrastructure Tether CEO Paulo Arduino revealed in a Recent interview that the company plans To show the world that it quote does More than usdt over the next quarter Some of you might recall that there have Been lots of headlines about tether Investing in Bitcoin mining operations And even energy infrastructure This could mean that tether knows that Regulators want to limit usd's growth or It could just be the company wanting to Diversify its revenue streams and if you Think it's something else be sure to Join the coin Bureau Discord Channel and Let us know we'd love to discuss it with You there and yes I bet you didn't know We had a Discord server and the link is Down in the description as well now

Another possible explanation for tether Shifting its focus could be the decline In long-term interest rates that we've Seen over the last few weeks that's Because the lower these interest rates Go the lower the yield that tether and Other stable coin issuers earn on their Massive reserves and the main reason why Long-term interest rates have been going Lower appears to be the belief that the FED is finished raising interest rates And the reason why it's believed that The FED is finished raising interest Rates is because inflation continues to Decline even according to the fed's Favorite inflation gauge for those Unfamiliar the fed's favorite inflation Gauge is the personal consumption Expenditures index or pce and it's Released at the end of every month the Pce for October was published last Thursday now the headline pce dropped to 3% while the core pce dropped to 3.5% for reference the fed's inflation Target is 2% and it pays extra close Attention to core inflation readings This means that inflation is still Technically higher than where the FED Wants it to be but it's clearly on the Decline many believe that this will be Enough for the FED to start lowering Interest rates and when the FED starts Lowering interest rates then individuals And institutions will start to borrow

More money the result is that the total Amount of money in circulation will Increase and a portion of this Capital Will eventually find its way into crypto And the markets will pump at least in Theory in practice the crypto Market is Forward-looking this means that today's Prices often reflect what's perceived to Happen in the future the spot Bitcoin ETF approval is a perfect example here It's been mostly priced in and it's Possible that the initial flows into These ETFs won't be that substantial More about how high BTC could go when The ETF is approved in the description Moving on now as amazing as it is that The FED is probably finished raising Interest rates it's important to Remember that the FED apparently has no Plans to lower them anytime soon this is Something that's been repeated Time and Again by fed chairman Jerome pal and yet Nobody seems to believe him On the one hand this disbelief is Somewhat Justified because the FED has Historically had to start cutting rates A few months after it stops raising them On the other hand however there is Reason to believe Jerome when you Realize that historically interest rates Were between 3 and 5% prior to 2008 what This means is that the FED could still Cut but not by as much as investors are Currently expecting this depends on why

The FED starts to cut if it starts Cutting because of a recession then Rates are probably headed to zero in the Absence of a recession though it could Only be a few percentage points now if It turns out to be the latter scenario Then it's going to be interesting to see How the crypto Market fares under such Conditions take a second to consider That crypto has only existed during a Time when interest rates were Artificially low compared with Historical standards negative in some Cases having positive real interest Rates that is interest rates that are Higher than inflation could change the Structure of the crypto market for Example it could put a limit on how much Capital will flow into memecoins or even Put proof of state cryptos with lower Yields out of favor with investors Something to think about and with all That said now feels like the perfect Moment to turn to last week's top Performing cryptos so take it away Jessica thank next guy well last week's Top performing cryptos were Terra Classic USD Tera classic Iota ordinals And celesa starting with Tera classic USD and Tera classic USC and lunk Appears to have pumped on the news that The crypto project is trying to come Back from the dead as most of you will Know us and Luna collapsed in May last

Year there have been multiple moves to Revive teror project since then This makes it difficult to analyze Either of the altcoins from a technical Perspective all I can say is that both Are very overbought from a more Fundamental perspective USC and lunx Market caps are over 500 million and 1 Billion respectively it's hard to see How they could keep pumping given their Size take a second to consider that for USC to regain its dollar Peg itp's Market cap would have to grow to 9 Billion ion not sure who needs to hear It but this is very unlikely to happen Anytime soon as for Iota it's Iota coin Appears to have pumped after the project Announced that it had launched a New Foundation in Abu Dhabi the foundation Will be capitalized with $100 million Worth of Iota which could paradoxically Cause Iota to crash as it sold to fund The foundation for now though Iota is Showing no signs of slowing down it's Broken through a key resistance level on The weekly hitting the next resistance Level would result in a 2X Rally from Its current price if guy is right about The rotation from BTC into ALS this Month then Iota could hit that Resistance scent level it's a similar Story for Audi which appears to have Rallied due to a combination of renewed Interest in Bitcoin ordinal nfts and the

Fact that it was listed on binance not Too long ago as some of you will know Cryptos tend to pump for the first few Weeks after they list on a big exchange Like binance Audi's longer term price Chart suggests that it has just broken Out of a massive bull flag if this is The case then Audi could continue to hit New all-time highs in the coming Weeks last but not least we have Celestia whose tier coin appears to have Pumped on the news that the project has Introduced Celestia Improvement Proposals or Cips these will make it possible for the Celestia Community to propose changes to The blockchain similarly to Audi tier Appears to have broken out from the Upside after some sideways consolidation The difference here is that tier has Likely hit another local top depending On how you measure the recent move if This is the case then Tia could see a Minor pullback and more consolidation Before going higher I'd like to note That if you do want to keep track of When altcoins are pumping and also where You can trade them be sure to check out The coin Bureau telegram channel the Link will be in the Description and 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

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