Crypto News: BTC Price, ETH ETFs, SEC Vs. Consensys, SOL, KAS & MORE!

Welcome to the coin Bureau Weekly News Roundup my name is Jessica and here are The top stories in crypto this Week SEC sues consensus the anti- crypto Regulator goes after one of the largest Crypto companies foreshadowing Additional crackdowns which crypto Projects is the Targeting ethereum ETFs delayed just When everyone thought eth would get its God candle the SEC kicks the can down The road yet again why asset managers Could be to blame salana ETF filings Asset managers vanck and 21 shares apply For spot salana ETS in a surprise move That sends Soul soaring what would it Take for approvals to happen Peter's Price prediction billionaire Entrepreneur Peter the predicts that Btc's price won't go much higher from Here but how much higher could BTC go us Sells BTC the US government sends almost 4,000 BTC to coinbase reminding everyone That Uncle Sam has promised to sell 40,000 BTC last year everything you need To know Mount ga's repayments Mega Bank JP Morgan predicts that btc's price will Be suppressed in July as Mount go Creditors reclaim and sell billions in BTC when could the price recover and a Closer look at last week's top Performing cryptos and where they could Beheaded next all this and More in just A

Moment last week the SEC sued consensus One of the largest companies in Ethereum's ecosystem the regulator is Alleging that consensus violated US Security laws with metamask swapping and Staking services this is surprising and Not surprising ing at the same time it's Surprising in so far as consensus had Given everyone the impression that the SEC would not be pursuing the company Over matters related to ethereum 2.0 as We noted in last week's crypto review This very specific wording suggests that Consensus could still be sued by the SEC Over something else well here we are Anyways it's also surprising because the Judge in the sec's case against coin Base had effectively rejected the Regulator's allegations against the Coinbase wallet back in March given that Metamask is analogous to the coinbase Wallet it is surprising that the SEC is Trying to go after consensus over it on The flip side the sec's lawsuit against Consensus isn't surprising given that it Is similar to the ones it has levied Against other crypto companies and Projects in other words the s See Clearly takes issue with everything defi So it's not surprising that it went After metam Mas features case in point The SEC referred to leader finance's ldo Token and Rocket pool's RPL token as Securities in its lawsuit against

Consensus this underscores The Regulators anti defi stance and could Foreshadow additional lawsuits against These liquid staking protocols the Silver Lining is that the sec's case Against consensus is actually a nothing Burger this is due in part to its Similarity to the sec's other recent Lawsuits and in part because it didn't Contain any information that would be Damaging to consensus or the ethereum Ecosystem that's why eth didn't move on The news by the way if you're enjoying The video so far be sure to smash that Like button and subscribe to the channel And ping that notification Bell so you Don't miss the next one now by contrast Eth did see a bit of a pullback over the Weekend when it's revealed that the SEC Had essentially delayed the spot Ethereum ETFs yet again this can be Clearly seen on the eth BTC chart which Shows that eth fell quite sharply Against BTC after the news of the delay Hit the wires to bring you up to speed These spot ethereum ETFs received the First of two two approvals from the SEC In late May the second round of Approvals required for the actual Listing were expected by the Fourth of July this Thursday however the SEC is Asking ETF issuers to submit more Documentation by the 8th logically this Suggests the spot ethereum ETFs may not

Be listed until sometime later this Month believe it or not this may not be The sec's fault per se rather it is Possible that the spot ethereum ETF Issuers are working with the SEC to Delay the second leg of the approval Process so that the listings themselves Are Delayed this is simply because the Market conditions aren't optimal for a Listing in case you haven't noticed These spot Bitcoin ETFs recently Experienced enormous outflows and are Now experiencing minimal inflows more Importantly investor interest in cryp Crypto appears to be extremely low Particularly among retail seeing as most Of the spot Bitcoin ETF inflows have Come from retail investors this means That listing the spot ethereum ETFs Would now be basically guaranteed Outflows particularly from grayscales Spot ethereum ETF recall that this Happened with the spot Bitcoin ETFs due To the trust conversion in turn this Would result in a bad look not just for The asset managers but also for ethereum Itself imagine the headlines spot Ethereum ETF flop proves that eth is old News and that institutions are now Obsessed with salana that's the kind of Headlines we'd likely to see if the ETFs Launched now if this is the case though And that's a big if then the spat

Ethereum ETFs could be delayed Indefinitely just like the Fed rate Cuts Lo and behold sources told crypto media That there will be and I quote at least One round of filings implying that this Will be the first of many delays to come In turn this could mean more eth Weakness against BTC and potentially in Fiat terms too if you want to make the Most of these moves be sure to check out The coin Bureau deals page it's got Trading fee discounts of up to 70% and Sign up bonuses of up to $100,000 on some of the best exchanges The link is down below Anyhow while the spot ethereum ETF Shenanigans were going down Vanek and 21 Shares made the surprise decision to File for spot salani ETFs this is Surprising because the SEC has referred To S as a security in its lawsuits Against coinbase and binance something You'll know if you watched our summary Of the lawsuit against the latter it's Also surprising because it seems to be Inconsistent with the spot crypto ETF Approval process that we've seen for BTC And eth to refresh your memory BTC and Eth first listed on the CME Futures Exchange then these CME future contracts Were used to launch the Futures BTC and Eth ETFs and this resulted in the SEC Eventually approving the spot BTC and Eth ETFs while future spot crypto ETFs

May not be needed to go down the exact Same pathway filing for spot salana ETFs Still seems premature as many crypto Analysts have pointed out the so ETFs Likely reflect the belief that a change In US Administration would result in Crypto rules that allow them to list This is something that was pointed out By the Bloomberg ETF analyst Eric Balunis who also highlighted the fact That the filing for soul ETFs now means That the SEC will have to make a final Decision on them just after the November Election this would make them the first Approved if change does come regardless The filing of the spot salana ETF is Significant because it suggests that Institutional investors are seriously Interested in crypto besides BTC and eth Although Saul maybe the crypto that We've heard about the most there seems To be equally large interest in the Likes of avalanche and deepin projects Note that you can learn more about which Narratives will be the biggest during The crypto ball Market using the L Link In the description on that note btc's Sluggish price action has had many Wondering whether the traditional 4-year Crypto ball Market cycle is dead it's Safe to say that billionaire Peter F Stoked these fears by noting during a Recent interview that he's not sure Whether BTC will go up dramatically from

Here Peter said this is just because the Spot Bitcoin ETF listed and it looks Like all of the buyers who were waiting On the sidelines have already bought in The absence of new buyers then it's hard To see how btc's price could continue to Increase as much as it has historically If you watched our recent video about Where we are in the crypto cycle you'll Know that BTC has experienced Diminishing returns Over time however You'll also know that institutional Investors still expect BTC to hit around 160k sometime this cycle which is still An objectively sizable gain in the short Term however Peter is still objectively Correct all the buyers that wanted to Buy in have already bought and in the Absence of new buyers bgc's price is Unlikely to rise dramatically in the Short term in the longer term more Investors will get involved as Regulatory Clarity improves around the World it's easy to forget that most of The spot Bitcoin ETF flows have been Driven by retail relative to retail Institutional investors aren't that Involved in crypto besides a lack of Regulatory Clarity higher interest rates Mean that for the first time in a long Time there's an alternative to investing In volatile assets large investment Firms like Berkshire hathway are Literally earning billions by just

Holding US Government debt which is Ironically somewhat volatile in any case As with fouryear Cycles history suggests That there will be a need for fiscal and Monetary stimulus at some point whereas The fiscal stimulus will reawaken retail Investors monetary stimulus will Reawaken institutional investors there's No telling when either forms of stimulus Will come or what exactly they will look Like but most would argue that it is Inevitable inflation is the only way to Get out of the global debt bubble Speaking of global debt most of you will Know that the US government is almost 35 Trillion dollars in debt and Counting Some would say that it would be wise to Huddle some hard assets like BTC or gold In such an environment but it seemed That the US has opted to sell off these Hard assets instead I'm of course Referring to the US government's recent Sale of almost 4,000 BTC something that Was quickly caught by onchain analytic Firms the US government sent this BDC to Coinbase presumably to sell you might Remember that the German government has Recently been selling btc2 what you may Not remember however was that the US Government had promised last March to Sell over 40,000 BTC that it sees from The Silk Road darket marketplace Interestingly the US government had only Sold around 10,000 of this BTC last year

Earlier this year it was caught moving The remaining 30,000 BTC what is Fascinating is that the 4,000 BTC Recently sold was an entirely different Stack related to an entirely different Case this is fascinating because it Means that the US government is probably Still sitting on the remainder of its Silk Road BTC this begs the question of When it could sell that if ever as with The German government it's impossible to Know when the US government will sell Its remaining BTC but the fact that it Hasn't done so yet suggests that it Believes there could be a better day to Do so in plain English the US government Maybe isn't dumping BTC because it Thinks its price could go higher even so The recent sales suggest that both Governments believe this could Mark the Local top for BTC notably the fact that Most of this BTC was sent to exchanges Suggests there is a shortage of OTC Buyers this brings us back to the point I made earlier the crypto ball Market is Still in its early stages and this Brings us to what is arguably the most Important crypto Factor this month and That's the return of BTC to mount gox Creditors for context Mount gox was a Crypto exchange that collapsed way back In 2014 since that time creditors have Been trying to reclaim the 100 42,000 BTC that wasn't lost over the last

Couple of years there have been multiple Reports that this BTC was about to be Returned and each time the crypto Market Dipped on the news obviously the reports Turned out to be incorrect and the Crypto Market recovered well it looks Like this time it could be for real and It could result in real volatility to Put things into perspective 142,000 BTC Translates to roughly $99 billion it Goes without saying that not all Mount Got's creditors will sell but some will Consider that BTC is up roughly 100x Since 2014 that's going to be a massive Payday for the 25,000 or so mango Creditors who've waited over a decade to Be made whole again it's impossible to Predict how much BTC will be sold but Let's use the good old 8020 Rule and Assume that 20% % of the 142,000 BTC Will hit the market that would translate To roughly $2 billion of sell pressure Which is roughly equivalent to what BTC Experienced when it recently fell from 70k to 60k if we assume a similar level Of Market depth which is debatable then BTC Could Fall by another 10K to around 50k the caveat is that lots of whales Have been buying up around 60k but the Catch is that there's also so lots of Traders going long around 60k this would Result in liquidations that would also Push BTC lower the silver lining in this Case is that this would likely be the

Final correction bcc's before blasting Off to new all-time highs according to JP Morgan BTC will likely start Recovering in August we reckon the Altcoins will lead the recovery if There's a rate cut between now and then Which also could happen with all that Said it's about time we looked at last Week's top performing Cryptos so last week's top performing Cryptos were Casper Dog With Hat RV aash Network and Avalanche starting with Casper it's Cas coin appears to have Pumped on the news that Marathon digital A publicly traded Bitcoin mining company Has mined $16 Million worth of cash as Part of its operations as you can see Cass appears to have invalidated that Head and Shoulders pattern that we spoke About last time we covered the project However it appears to be approaching the Upper trendline of its recent price Range if the crypto Market keeps Weakening it will likely get rejected Next up we have dog whff hat which Appears to have pumped on the news of The spot salana ETF filings for Reference whiff is a mcoin on salana as You can see Whiff's recent rally barely Registers on its long-term price chart And it looks like it's headed for Another leg lower as for RV its RV token Appears to have pumped due to the 2030 Proposal being passed for those

Unfamiliar the 2030 proposal includes a Series of upgrades to the defi Landing Protocol including cross chain liquidity And nonm deployments as you can see RV's Price chart is similar to whiffs in that It looks like it's going to keep rolling Over Know that this is going to be the case For most cryptos if these sluggish Conditions continue when it comes to Aash network it's akt coin appears to Have pped due to the news that it had Listed on coinbase for New York Residents we honestly had no idea that New York residents had such crazy Restrictions around crypto listings that Is really unfortunate what's even more Unfortunate is that like with and RV akt Looks like it's going to keep rolling Over just keep in mind that there could Be another surprise rally if there's any Bullish AI news that does come out well Finally we have Avalanche whose avax Coin appears to have pumped on the news That chain link had added data stream Support for its layer one blockchain Starting with the GMX derivatives decks As you might have guessed avax looks Like it's going to continue Contin to Keep rolling lower after its recent Head And Shoulders pattern this could be a Good accumulation opportunity for any Avax balls in the crowd not Financial Advice note that you can also keep track

Of which cryptos are pumping and also Where you can trade them by joining the Coin Bureau Insider telegram channel the Link will be down in the Description and that's all for today's Coin buau 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 Trading fee discounts and sign up Bonuses of up to $100,000 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 VI merch store has You covered you can find the link to Those resources and many others in the Description down below thank you thank You all so much for watching and we'll See you all in next week's episode this Is Jessica signing off

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