Crypto News: BTC, ETH FUD, Tether, ICP, INJ, Fed Cuts & MORE!!

Welcome to the coin Bureau Weekly News Rand up my name is guy and here are the Top stories in crypto this Week crypto markets slump coins and Tokens fall to key moving averages after Elizabeth Warren tables her anti- crypto Bill in the Senate why the slump could Continue this week Peak e fud ethereum Creator vitalic beran cons considers Keeping more features on the main chain While JP Morgan makes a bold eth Prediction everything you need to know Tether reserves revealed the CEO of Canor Fitzgerald confirms the US Financial Services firm manages some of The assets backing usdt as regulatory Scrutiny increases what this means for The market fed Cuts incoming chairman Jerome pal confirms that the central Bank will start cutting interest rates Next year causing stocks to Rally when Will crypto catch up 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 the crypto Market saw a Sudden dip with BTC Falling by more than 10% before Recovering as you might have guessed This flash crash was caused by hundreds Of millions of dollars of liquid Liquidations this begs the question of What the Catalyst for these liquidations Was well from our perspective it appears

That the crash coincided with the news That Elizabeth Warren the anti-crypto Politician had officially introduced her Anti- crypto Bill to the US Senate the Tldr is that the bill would require kyc For every single activity in crypto to The point that it would be impossible to Comply the Practical effect of this is That crypto would effectively be banned In the United States and well that's Probably the point the craziest part is That Elizabeth tabled the bill shortly After a senate Hearing in which JB Morgan CEO Jamie Diamond said he'd shut Down crypto if he was the government as Many people have pointed out this is Probably more than a coincidence and it Underscores something we've been Speculating about a lot lately there Could be a battle behind the scenes Between asset managers like Black Rock Who are pro crypto and mega Banks like JP Morgan who are anti crypto this would Make sense given that black rock and Co Want to make as much money as possible Whereas JP Morgan and Co want to Maintain their control of the financial System the result is the often Nonsensical rulle making we see from Regulators like the SEC they're Basically trying to appease both sides In in any case assuming that Elizabeth's Anti-crypto bill was the Catalyst for The flash crash then it's possible that

We could see another one this week That's because the Senate has delayed Its holiday recess until further notice To work on other pending bills that its Members want to deal with as we Mentioned in our Weekly Newsletter this Means that Elizabeth's anti-crypto bill Could potentially be put up for a vote Or even passed now we've explained Exactly what this would mean for crypto In our newsletter so be sure to Subscribe if you haven't already the Link will be in the description now What's interesting is that btc's chart Appears to reflect the possibility of Another crypto Catalyst taking the Markets lower as you can see BTC is Currently sitting just above the Ballinger band moving average on The Daily you'll notice that this has been a Key zone of support during the recent Rally if BTC Falls below this level it Could could experience a correction down To the Ballinger band moving average on The weekly which currently sits at just Over 30k if you factor in all the Liquidations we would be likely to see Then it's possible that BTC could Temporarily dip below this level before Recovering on the flip side it's Possible that BTC will bounce from the Ballinger band moving average on The Daily like it has repeatedly done during The recent

Rally this could paint a d bottom Pattern which could push BTC as high as 50k given how overbought the weekly RSI Is though the downside risk seems high Now if you want to try trading this Potential pump or dump then check out The coin Bureau 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 deal is available For a limited time only so get it now Using the link in the description Anyways last week's dip appears to have Poured more cold water on eth which has Been lagging behind BTC by now most of you will know that This is clearly visible on the eth BTC Chart particularly on the weekly time Frame eth continues to weaken against BTC and could be painting a bare flag However by now most of you will also Know that eth weakening against BTC Doesn't mean that its price will go down In Fiat terms per se in fact eth's price Action in USD looks almost identical to Btc's and the potential double bottom Bounce from the Ballinger band moving Average on The Daily looks clearer if You watched our recent ethereum update You'll know that eth's underperformance Against BTC is partially due to high Long-term interest rates in the United States which are finally starting to Come down now assuming this decline in

Long-term interest rates continues this Week then eth could could see a big Rally those who saw that video will also Know that there have been concerns about Ethereum's layer 2os taking demand away From the base chain something that Coinbase highlighted in a report last Year well believe it or not but it looks Like ethereum Creator vitalic ban is Starting to realize this risk as well That's because vitalic recently proposed The possibility of keeping more Functions on the main chain for context Vitalic has long been a supporter of Delegating these functions to layer twos Logically this apparent 180 could be Evidence of him getting nervous about Layer 2's becoming too dominant this Sounds silly Until you realize that Ethereum's upcoming denune upgrade will Increase the speed of ethereum's layer 2s while reducing their cost this will Make them even more attractive to use Relative to the base chain and this Could reduce the demand for eth lower Fees means you need less eth to Transact and as we also mentioned in our Ethereum update the activity and total Value locked on ethereum's layer 2s Continues to hit new all-time highs if All of this activity had been taking Place on the base chain instead well It's likely that eth's price would have SE more upside due to all the extra eth

That would have been needed for fees of Course some would argue this is nothing More than fud given that ethereum Fundamentally benefits at the end of the Day this is indeed true and the fact That so many high-profile people seem to Be freaking out about ethereum's layer Tws could be evidence that we finally Reached Peak ethereum fud if you need More evidence of this look no further Than JP Morgan which is now saying that Eth will outperform BTC in 2024 for reference the mega bank had Recently called ethereum's transition to Proof of stake quote disappointing and Even said that it had made ethereum more Centralized funnily enough it appears That JP Morgan is flipping bullish Precisely because of what I just Mentioned a few moments ago the denune Upgrade which will supercharge Ethereum's layer 2 ecosystem make no Mistake this will be big for ethereum And its layer 2 tokens will likely see Even larger gains than e there's just One caveat however and that's the Potential for the pending spot ethereum ETF applications to be rejected this is A possibility that was recently posited By Bloomberg ETF analyst James saart James believes that the SEC could try And allege that eth is a security as a Justification for rejecting the Applications for those unfamiliar eth is

Basically the only large cap altcoin That the SEC hasn't explicitly labeled As a security Crossing that Rubicon Would be nothing short of insane but Then again the SEC actually thinks that Stable coins are unregistered Securities Madness by the way if you're enjoying The video so far then smash that like Button to give it a boost now speaking Of stable coins Howard lutnick the CEO Of canor Fitzgerald recently dropped a Bombshell the financial services firm Continues to manage some of the assets Backing tether's usdt FYI most stable Coins in circulation including usdt are Backed by US Government debt it should Come as no surprise then that Howard is Very happy about tether's market cap Surpassing 90 billion his firm likely Takes a cut of the yield that usd's Reserves are earning what may come as a Surprise is that Howard happens to be a Bitcoin Maxi Because he believes only BTC is decentralized note that you can Find out what decentralization means Using the link in the description anyhow If you're confused as to why this is so Significant it's because tether has Reportedly been facing extreme scrutiny From us Regulators as you might have Heard the stable coin issuer has been Onboarding us intelligence agencies like The FBI to try and keep the book at Bay So to speak so far this seems to be

Working but there's still a risk that us Authorities could decide to do things The hard way that is launch an Enforcement action it's possible that This enforcement action would involve Seizing or freezing the reserves backing Usdt hence the significance of Howard's Comments it's important to note that This isn't just speculation either a few Days ago tether disclosed that it Recently sent a letter to us politicians Detailing all the different ways that It's committed to compliance this comes Shortly after the treasury Department Asked for powers to go after off Offshore crypto entities and it's not Just tether some of you might have heard That circle is facing scrutiny as well What's odd is that this scrutiny is Coming from a so-called ethics Watchdog Which has been sending letters to us Politicians telling them to investigate Circle's connections to Tron and its Founder Justin Sun now if you watched Our video about circle from last year You'll know that there actually do seem To be some connections between Circle And Justin Sun but these appear to be Purely Financial for example Justin Reportedly purchased the poniac crypto Exchange from Circle when Circle turned Its focus to Usdc obviously Circle has fired back by Sending letters of its own but it looks

Like this socalled ethics Watchdog isn't Backing down after Circle sent its Letter the ethics Watchdog sent another Letter essentially alleging that circle Is lying about its connections to Trump And just in some regardless the key Takeaway here is that stable coins are Experiencing significant regulatory Scrutiny in the United States this has Been the case for quite some time and at First glance it seems like it's just More fud upon closer inspection however You realize that the terrorist financing Fud is very effective if you watched our Video about the binance settlement You'll know we touched on the Possibility that it would was partially Due to the allegations that binance was Involved in Terrorist financing you'll Also know that us politicians had Explicitly named tether as another Entity they want us authorities to Investigate as the binance settlement Has shown however this scrutiny may not Disrupt the markets as much as you might Imagine in fact some would argue that Tether getting things sorted with us Authorities is extremely bullish that's Because because it further increases the Chances of a spot Bitcoin ETF being Approved by the SEC on that note another Bullish Catalyst that's been brewing for The crypto Market is the idea of the FED Finally lowering interest rates that's

Because lowering interest rates will Mean more people will borrow money which Will increase the money supply which Will eventually pump asset prices Including crypto although the FED hasn't Started cutting interest rates just yet Its updated projections called The Dot Plot forecast at least three rate Cuts Next year as most of you will know Investors are forward-looking which Means that the markets react today to Stuff that investors believe will happen In the future in this case rate Cuts This is why some stock indices such as The Dow Jones hit their all-time highs Shortly after the FED revealed its Updated interest rate projections it Looks like the other indices will soon Follow suit as will many individual Stocks the charts suggest that we could Actually be on the brink of a huge melt Up as you can see the S&P 500 appears to Have painted a massive cup and handle Pattern over the last two years if it Breaks to the upside the S&P could rally As high as 6,000 in the coming months it Goes without saying that the crypto Market would participate in this rally Particularly if an ETF is approved to Put things into perspective an S&P rally To 6,000 would translate to an almost 30% gain given that btc's volatility is Roughly 2x that of stocks that would be A 60% gain for BTC and given that

Altcoin volatility is roughly 2x out of BTC then most altcoins could likely Double or more as amazing as this sounds There's something you need to keep in The back of your mind however the FED Has only lowered interest rates when Something bad was happening right now it Looks like everything is fine but it's Possible that the FED foresees problems In the future and is lowering rates in Advance many macro analysts believe that This problem could be related to China To bring you up to speed it appears that China's housing bubble has burst and It's believed that this has decimated Its internal economy it's difficult to Say for sure because the CCP has stopped Publishing certain data while this may Not seem like an issue that's relevant To you take a second to consider that Almost everything in the world is made In China or using parts that were made In China a weak Chinese economy could Therefore be a sign that the global Economy isn't as robust as the Governments say meanwhile the Chinese Central Bank has been slow to stimulate And some have argued that it won't Stimulate at all that's because the CCP Is trying to eliminate speculation in The housing market and such whatever the Case though a financial crisis in China Could be the Black Swan the FED sees in The distance the good news is that if

This financial crisis occurs then Central banks around the world would Eventually respond with unprecedented Stimulus that would pump the markets the Bad news is that governments could take The alter alternative route which is to Start unnecessary Wars that nobody wants Some would say that this is happening Already anyhow speculation aside last Week's top performing cryptos were Internet computer Bonk osmosis injective And helium so starting with internet Computer it's not quite clear what Caused ICP to pump our best guess is That it had to do with the crypto Project's Presence at the recent Environmental Summit in Dubai Chances are that it exposed the internet Computer to some very wealthy investors As you can see icp's rally was parabolic In every sense of the word it's possible That it could continue to go higher but Not without a much needed correction Next up we have Bonk whose Bonk token Rallied on the news that coinbase would Be listing the Mcoin it's safe to say that it's Pointless to do technical analysis on Mem coins but the fact that salana Phones sold out because they come with a Bonk airdrop suggests a local top at the Very least as for osmosis meanwhile There's a more fundamental reason why Osmo pumped the cosmos based Dex appears

To have experienced a surge in trading Volume the upcoming launch of its liquid Staking offering for Celestia's Tia coin Could have played a role as well as Impressive as Osmos price action looks Up close it looks a lot less impressive When you zoom out as you can hopefully See osmo faces a lot of resistance Around these levels if it can break Above This level however it looks like It could triple this is possible if we See that market melt up mentioned Earlier it's a similar story for Injective protocol whose inj token Appears to be pumping due to an increase In trading volumes on injectives Derivatives decks come to think of it Though it appears that a lot of Cosmos Based cryptocurrencies pumped last week This could be a sign of investors Rotating into a new sector whatever the Reason though it's taken inj to new All-time highs with inj in Uncharted Territory and the crypto Market at such A pivotal moment it's impossible to know Where inj is headed next based on the Overbought conditions though a Correction would be ideal for inj to Keep going higher and finally we have Helium's h&t coin which appears to have Pumped on the continued hype around Helium's lowcost Mobile plan launching In the United States as a fun fact Helium's Mobile plan currently has 5,000

Users and Vanek projects that it will Have 100,000 users by the end of 2024 H&t price action has been nothing short Of Epic but it appears that it faces a Lot of resistance around these levels a Correction could come and if it does h&t Could fall just as hard as it rallied After all the Catalyst that seems to Have kicked off the rally won't turn Into a fundamental for a few months at Least and if you want to know which Cryptos are pumping on a daily basis and Why and where you can trade them check Out the coin Bureau telegram channel the Link to that will be down in the Description and that is all for today's Coin Bureau weekly crypto review so if You enjoyed it 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 Also if you want to pick up some snazzy Crypto merch the coin Bureau merch store Has it all you can find the link to that Resource and many others where else in The description below thank you so much For watching and I'll see you all in Next week's Episode