Crypto News: Bitcoin Rally, ETH Updates, SOL, LINK & MORE!!

Welcome to the coin Bureau Weekly News Roundup my name is guy and my name is Jessica here are the top stories in Crypto this Week crypto Market rally BTC explodes a Speculation about an imminent spot Bitcoin ETF approval hits an all-time High decoupling crypto from stocks so Where is the crypto Market headed next Ethereum ecosystem updates a newly 2 Launches on ethereum while Unis swap Introduces trading fees and vitalic Voices his crypto related concerns why e Could be sending a warning sign not Another lawsuit the New York attorney General files a complaint against Gemini Dcg its subsidiary and two of its Executives what does this mean for Grayscales spot Bitcoin ETF Conversion missing house Speaker us Poli Politicians struggle to appoint a Colleague to one of congress's key Positions as investors look for clarity Around macro and crypto how stable coins Could get caught in the crossfire and a Closer look at last week's top Performing cryptos and where they could Be headed next all that in more in just A Moment last week the crypto Market Experienced an epic rally with BTC Pumping by more than 10% as some of you May have heard the initial pump was Caused by a report from coin Telegraph

That a spot Bitcoin ETF had been Approved this later turned out to be False and the market fell back down However just a few days later amended Applications by asset managers Fidelity And black rock and a new spot Bitcoin ETF application by grayscale took BTC Right back up to 30k Fed chairman Jerome Pal's doish comments could perhaps also Have contributed to the rise though in Retrospect this seems unlikely that's Because the stock market crashed while The crypto Market rallied if the cause Of the crypto rally had been a macro Factor such as a Fed pause then the Stock market would have rallied too the Absence of this correlation suggests a Crypto specific factor and spot ETF Speculation was probably it a related Crypto specific factor that probably Played a role as well was comments by Black Rock CEO Larry thinkink about Btc's initial pump on that false report Larry said that btc's pump was a sign of A flight to safety by investors implying That BTC is analogous to other risk off Assets like gold and us treasuries this Begs the obvious question of where the Crypto Market is headed next well the Answer ultimately depends on the time Frame you're analyzing btc's daily chart Looks extremely bullish it painted a Bull flag last week and appears to be Painting another bull flag at the time

Of shooting however things look a little Bit different when you zoom out to the Weekly as you can see it appears that BTC is painting a head and shoulders Pattern this has been picked up by Technical analysts on crypto Twitter and It's something that some of them have Been expecting for months there are also Striking parallels between BTC 2023 Rally and the rally it experienced back In 2021 it looks like a distribution Pattern followed by a dip and then a Head and shoulders pattern which took BTC lower after being temporarily above The Ballinger band moving average and Then being rejected now believe it or Not but this distribution pattern Followed by a dip and then a head and Shoulders is an actual technical Analysis pattern called a Three Peaks And a doed house nope I'm not making This up this incredibly Niche pattern Has historically happened around local Tops and cycle tops namely in the 1910s 1920s and 1970s if you just learned Something new Smash that like button by The way now this suggests that the next One to two weeks are going to be Critical for the crypto Market btc's Monthly chart suggests closing the month Above 27k would translate to a bounce Off the Ballinger band moving average Notice how being below this band means

Bare market and being above it means Bull market notably the chart suggests That if BTC closes the month above 27k Then it could rally up to around 45k in The coming months conversely if it Breaks Below 27k in the next week or two It could set the stage for a bare flag That takes BTC back down to around 20K Which would likely be the local low for BTC now the caveat is that such a big Drop in BTC would likely translate to Lower lows for most altcoins including Eth eth is in the process of breaking Down against BTC and could fall as low As 0.035 BTC per eth if BTC Falls to 20K Then it would translate to an eth price Of less than $800 a lower low it's a Similar story if BTC was to Rally in fat Terms if eth continues to weaken against BTC then a BTC price of around 45k would Translate to an eth price that's roughly Where it is now $1,600 now of course the silver lining In either scenario is that both would be A good time to accumulate TS like eth if You're already doing so by the way make Sure you're keeping your SS on a secure Wallet and minimizing your exchange fees The coin Bureau deals page has the Biggest discounts on the former and up To $40,000 of bonuses on the latter the Link will be down in the description I Digress now eth's weakness against BTC

Is somewhat surprising given the Continued growth that the ethereum Ecosystem has experienced just last week A new layer 2 called scroll confirmed That it had deployed its main net Something that had been noticed by the Crypt media and cross-chain Deens Earlier this month like the polygons ZK Evm scroll also uses ZK evm technology Which makes it possible to add smart Contract functionality to rollup based Scaling Solutions the difference is that The polygon ZK evm technically has a Token Matic whereas scroll does not at Least not yet this presents a potential Opportunity if you watched our video About coinbase's base you'll know that Using these layer twos is a great way to Set yourself up for a a potential Airdrop in the future although coinbase Initially denied there would be an Airdrop for base more recently The Exchange has hinted that an airdrop Could occur at some point while scroll Has not yet confirmed whether it will be Issuing a token or not the fact that the Crypto project raised $80 million from Various crypto VCS suggests there is a High likelihood that it will at some Point those VCS must make a return on Their investment at some point after all On that note decentralized exchange Unis Swap recently made the controversial Decision to implement a 0.15% trading

Fee on select trading pairs this is Controversial because the fees apply to Unis swaps front end not the protocol This means Unis swap Labs is capturing This value and not uni token holders It's also controversial because the Decision to implement the fee was not Voted on by uni token holders then again The fact that Unis swaps front end is Centralized and controlled by Unis swap Labs means they can technically do Whatever they want with it thankfully There are other ways to access Unis swap You'll know those other ways if you're Subscribed to our Weekly Newsletter if You're not I suggest you do so ASAP the Link to that will also be in the Description now speaking of controversy Ethereum creator vitalic butterin has Come under Fire lately due to all the Eth he's been sending to exchanges Presumably to sell well vitalik recently Clarified that he hasn't sold eth for Personal gain since 2018 but well that Doesn't change the fact that he is Selling eth at the end of the day this Is bad optics for the untrained eye and The recent headlines about vitalic Outlining the risks he sees for crypto Don't help either to be fair though his Concerns are Justified the risks are Related to crypto stagnating privacy and Permissionless crypto becoming a lost Cause as well as AI related

Disruption given the circumstances it's Surprising that vitalic didn't list Regulation as one of the risks he's Concerned about this is likely because Ethereum is sufficiently decentralized To not draw scrutiny from Regulators Like the SEC even so scrutiny of other Entities could do indirect damage to eth Digital currency group or dcg is one Such entity if you watched our recent Video about dcg you'll know this Crypt Behemoth has been taking heat from all Sides ever since its subsidiary Genesis Trading shut its doors in November last Year the side sending out the most heat Has been Gemini now to refresh your Memory Gemini had a product called Gemini earn which allowed users to earn Interest on their idle crypto behind the Scenes Gemini was giving this crypto to Genesis to earn a yield a portion of Which would be paid to Gemini earn users When Genesis went down this crypto was Lost Gemini's twin co-founders Cameron And Tyler winlos have been raising hell On social media ever since these words Turned to actions in July when Gemini Filed a lawsuit against dcg and its Co-founder and CEO Barry silbert this Was big given that dcg is one of the Largest companies in Cryptocurrency well The Regulators in New York seemed to get the memo but the Response was unexpected New York's

Attorney general sued all of the parties Involved Gemini dcg Barry silbert Genesis and former Genesis CEO Michael Morrow the Attorney General is alleging That these parties defrauded investors a Spokesperson for dcg confirmed to Decrypt that New York Regulators had Been probing the company for months and Believe that they will be Vindicated in Court as you can imagine Gemini Applauded the lawsuit as Vindication Somewhat on their end but naturally took Issue with the fact that they were Lumped in with dcg and Co the bigger Issue is that if the New York attorney General manages to convince the court That these parties were at fault they Will be permanently banned from the State of New York and would likely face Fines of over 1 billion This is something that dcg likely can't Afford given its position that's because The Genesis blowup left a massive hole In dcg's balance sheet that it's just Barely managed to fill so far part of This filling has come from grayscale's Bitcoin trust whose management fees are Apparently the largest source of revenue For the entire crypto conglomerate this Has led to speculation that grayscale Wasn't rushing to convert its Bitcoin Trust into a spot Bitcoin ETF our stance Was that the proof would be in the Pudding if grayscale wins its case

Against the SEC and refiles to have its Bitcoin trust converted into a spot Bitcoin ETF then it was only speculation Well as it so happens grayscale did Recently win its case against the SEC And the regulator missed the deadline to Appeal just a few days later grayscale Julie refiled to have its Bitcoin trust Converted into a spot Bitcoin ETF but The recent lawsuit against its parents Company has cast a shadow over its Approval prospects some analysts are Saying it gives sufficient justification To the to Kick the Can down the road Whereas others are saying that it will Have no effect a few such as Bloomberg ETF analyst James saart are in the Middle pointing out that it depends on The relationship between Genesis and Gbtc without getting too deep into the Weeds Genesis was doing some Questionable stuff with gbtc with the Help of failed crypto hedge fund 3 Arrows capital or 3ac the specifics of These interactions as well as genesis's Role in the broader gbtc Market could Potentially jeopardize grayscale's new ETF Application complicated I know and yet The complexity of what's been going on In the crypto industry pales in Comparison to the complexity of what's Been going on in the White House to Bring you up to speed the US government

Almost went into shutdown back in September because politicians couldn't Agree on a new budget after lots of back And forth in the House of Representatives a temporary budget was Approved by the house approved by the Senate and signed by President Joe Biden At the 11th Hour however all it did was Delay delay the government shutdown Until mid November Friday the 17th of November to be exact passing a temporary Budget also simultaneously resulted in Speaker of the House Kevin McCarthy Being removed by his Republican Constituents now to our understanding This removal happened because some Republicans didn't like that Kevin had Compromised with Democrats in the house To get a deal done if we're incorrect Though then do drop a comment down below And let us all know you politics is not Our Forte regardless the consequence of Kevin's removal is that there is no Speaker of the house to our Understanding this means that it's Practically impossible to bring bills to A vote this is unfortunate given that The substitute speaker is Patrick McKenry an openly Pro crypto politician If you watched our video over the Weekend about the cfpb's crypto Crackdown you'll know that crypto Regulations must be passed ASAP P to Prevent this Crackdown from occurring

The absence of a speaker of the house Means that this won't happen soon which Increases the risk of enforcement in the Interim and it's not just crypto either As the house struggles to find a speaker Major macro factors are showing their Faces such as the conflict in the Middle East consider that we still have a Conflict in Eastern Europe and a Potential conflict emerging in East Asia As well you know which ones I'm talking About this uncomfortable reality has Riled up some politicians to the point That they don't even care who the Speaker is anymore they just need to get Someone in ASAP to address these issues Before they spiral out of control others Have outright refused to throw their Support behind anyone for reasons we Honestly don't really understand the Craziest part about all of this is that The absence of a house Speaker could Paradoxically be good for crypto that's Because as soon as Congress gets its Affairs in order it's almost certain That its first order of business will be To pass the military spending bill which Is only waiting on house approval if You've been keeping up with the crypto Headlines you'll know that this military Spending Bill contains a provision which Could force us-based stablecoin issuers Like Circle to collect kyc on all crypto Wallets holding

Usdc this provision would come into Force within 120 days of the bill Becoming law when you combine this with Increased pressure to probe crypto's use In certain types of illicit activity What you get is a very high likelihood Of additional restrictions on crypto Being introduced in the US and elsewhere The Black Swan would be the spot Bitcoin ETF applications being denied for these Reasons but let's not get ahead of Ourselves on the fud and consider the Flip side no matter what Congress Decides to do chances are that it will Involve printing money in the absence of Any regulatory surprises crypto should Pump in response in fact it's possible That it's already pumping in Anticipation of all of this and that Brings us neatly to last week's top Performing cryptos so Jessica welcome Back and take it Away thanks Guy well last week's top Performing cryptos were bit coin SV Salana chain link Aptos and stacks Starting with Bitcoin SV it's bsv coin Appears to have pumped in response to a Series of tweets put out by the Satoshi Nakamoto Twitter account which is Believed to be controlled by Craig Wright the creator of bsv bsv forks also Appear to have gotten a boost from the Spot Bitcoin ETF application update now As impressive as bv's recent pump has

Been it barely registers on its Long-term price chart That said we have noticed that bsv tends To pump aggressively in the months Leading up to the Bitcoin haling as such It is possible that bsv will continue to Pump until early next year so we'll have To see about that one next up we have Salana whose so coin appears to have Pumped in response to the news that the Crypto project has become an ecosystem Partner of one of the free zones here in Dubai the recent completion of sana's Hyperdrive hacker on could also have Contributed to the pump as you can see Saul experienced a massive pump last Week that could lead to a bab band Breakout to the upside the catch is that A $30 is a really strong resistance for Soul it's going to take a big Catalyst For it to break above that level in Absence of such a catalyst we could see A rejection when it comes to chain link Its link token appears to have pumped Due to the announcement that link Staking V2 is coming Chain link did not specify when V2 will Be released but the project noted on X The audit is currently underway note That these audits can take a few months To complete in any case link is looking Similar to S on the weekly chart it's on The brink of breaking out to the upside On the Ballinger bands but faces extreme

Resistance around the $10 level as with S it's going to take a big Catalyst for Link to break that barrier V2 staking Could do the trick if it comes soon as For Aptos its AP coin appears to have Pumped in response to its oneyear Aniversary the project claims that the Onchain activity related to the Milestone is what caused its blockchain To experience a temporary outage a Little bit ironic considering that Aptos Has been branded as Solana killer now in Contrast to S apt is still below the Ballinger band moving average on the Weekly and it seems to have been Rejected by by it during the recent Rally this foreshadows a red week for Apt which is expected given its massive Rally remember that Corrections are part And parcel of the crypto market last but Not least we have Stax whose STX coin Appears to have pumped due to a Combination of the hype around the spot Bitcoin ETF application updates and the Stacks hackathon in London over the Weekend had I had known sooner I could Have attended given that I was also in The UK maybe next time so funly enough Stx's price chart looks like a much more Volatile version of btc's its weekly Chart is on the brink of squeezing to The upside or the downside this likely Depends on where BTC is headed you'll Recall that guy already covered that

Earlier if not go back and watch that ASAP and if you want to keep track of Why cryptos are pumping and also where You can trade them you can check out the Coin Bureau Insider telegram Channel the Link is going to be down in the Description and that is 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 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 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 we'll See you all in next week's Episode

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