Crypto News: BTC Price, Ethereum ETFs Coming, TON, UNI & MORE!

Welcome to the coin Bureau weekly Newsround my name is Jessica and my name Is guy here are the top stories in Crypto this [Music] Week Bitcoin ETF wo spot Bitcoin ETFs Experience large net outflows while Bitcoin Miners and BTC Wales start Selling how low could BTC go ethereum ETFs imminent Bloomberg analysts expect Got ethereum ETF approvals by the start Of next month what does this mean for Eth Trump's Bitcoin bet presidential Candidate Donald Trump pushes for all Remaining BTC to be mined in the US why This isn't a good thing Biden's crypto Redemption President Joe Biden Reportedly plans a pro crypto event to Sway the industry over to his side when Will it happen fed doubles down dur Powell signals the FED will keep Interest rates higher for longer amid Softening economic data everything you Need to know concerns arise over open AI Users question the AI entity's decision To hire a former NSA director as well as Its Apple partnership which crypto Projects could it affect 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 Moment last week the spot Bitcoin ETFs Experienced some of their largest net Outflows to date totaling almost $600

Million over just 5 days the Practical Effect of this was that btc's price fell Because the ETFs are backed by actual BTC that's bought and sold according to Demand that's what spot ETF means now The consequence of BTC sales by ETF Investors was hundreds of millions of Dollars of Longs that is traders who bet That btc's price would go up being Liquidated as a result hundreds of Millions of dollars of BTC were sold Causing further price drops and Liquidations at the same time onchain Analysis suggests that Bitcoin miners Had also sold hundreds of millions of Dollars of BTC presumably to fund their More expensive operations after the Harving some sources suggest the cost of Mining one BTC is now as high as 83k but It obviously depends on the minor in Question and if that wasn't bad enough Further onchain analysis revealed that BTC Wales who had not moved their coins In years had started sending their SATs To exchanges with one whale reportedly Sending 8,000 BTC worth over $500 Million to binance it stands to reason That they were intending to sell and yet This sell pressure which easily exceeded $1 billion only caused BTC to Fall by Around 5% this underscores the the fact That the average BTC holder continues to Accumulate despite selling around the Margins something further supported by

Onchain analysis many other BTC whales Are buying moreover if you zoom out You'll notice that BTC has basically Been trading sideways since last February bouncing between around 61 and 72k with occasional deviations below and Above these key levels so long as BTC Stays within this range there's not much To worry about but lots to trade and if You want to try your hand at trading Then check out the coin Bureau deals Page to maximize your profits it's got Trading fee discounts of up to 60% and Sign up bonuses of up to $60,000 on the Best crypto exchanges Link in Description now speaking of ETFs Everyone is waiting for the spot Ethereum ETFs to be approved to clarify The spot ethereum ETFs technically Require two SEC approvals in order to List on stock exchanges the first first Approval happened late last month the Second approval is expected to occur by The end of the summer although the end Of the summer could technically be until The end of September Bloomberg ETF Analysts believe the approval Could Happen by the 2nd of July this is due to A combination of feedback ETF issuers Have received and the SEC supposedly Wanting to get things done by the 4th of July holiday assuming Bloomberg's ETF Analysts are correct this means that a Spot what ethereum ETF could be listing

In well the next two weeks so this begs The question of How High eth could go Off the back of these listings well the Approval of the spot Bitcoin ETFs took BTC to new alltime highs so many believe It will be the same story for eth However the answer with eth is a bit More nuanced as we mentioned in our Recent video about which cryptos will Get ETFs next eth lacks a concrete Narrative that institutions could ape Into like digital gold for BTC not only That but many institutions may be Comfortable with just having BTC as Their only crypto exposure this is Especially true when you consider the Fact that the spot ethereum ETFs won't Be any different from the spot Bitcoin ETFs in terms of their qualities for Context many of the spot ethereum ETFs Initially included staking removing eth Staking seems to have been a condition For SEC approval now that is a problem Because the ability to stake eth to earn A yield is a big selling point Particularly with institutions so eth's Lack of narrative the relative risk Aversion of large investors to crypto And the absence of staking yield is why Many including JP Morgan expect the eth ETFs to have smaller inflows the spot Ethereum ETFs could even experience net Outflows in their first days of trading If they're launched at a bad time come

To think of it this possibility could Even prompt ETF issuers to delay the Listing dates or just let the secc take Its sweet time it seems many crypto Projects have done this with their Milestones in the past thankfully though It looks like the market conditions Could be perfect for a spot ethereum ETF Launch and that's simply because of how Politicized crypto has become in the United States and by the way if you're Enjoying the video so far be sure to Thump that like button and subscribe to The channel so you don't miss the next One now to bring you up to speed US Presidential candidate Donald Trump Hosted a Galla for holders of his nfts In early May the result of this was that Trump met with many prominent people in The crypto industry and they seem to Have convinced him that crypto voters Are a cohort worth wooing for the Upcoming election now shortly after this Event Trump began making making Bombastic Pro crypto statements and Policy promises many believe that this Is why the SEC suddenly decided to Approve the spot ethereum ETFs for Reference most Democrats appear to be Anti- crypto and the sec's top brass are Of course mostly Democrats realizing That cracking down on crypto could be Losing them voters the Democrats started Pulling their punches approving the spot

Ethereum ETFs with one hand but vetoing AO crypto resolution with the other Meanwhile Trump has continued doubling Down on crypto though he may be taking It a little too far this is because he Recently remarked at an event featuring The heads of the biggest Bitcoin mining Companies that he wants all remaining BTC to be mined in the United States at First glance this is bullish because it Underscores Trump's commitment to Growing the crypto industry in the US Upon closer inspection however you Realize that the only way all remaining BTC would be mined in the US would be For all Bitcoin mining to happen in the US this would result in extreme Centralization of the blockchain which Coupled with regulations around Reporting could easily threaten Bitcoin Itself and this highlights something That only a few people seem to be Comfortable pointing out and that is That neither of the two presidential Candidates seems to know what crypto is All they really know is that there are a Lot of passionate people with a lot of Money involved with crypto and they want Those votes and donations that said While Trump's support of crypto is Likely partially influenced by his made In America economic policies the same Cannot be said for Biden whose crypto Support is likely entirely political

I'll reiterate that the Democrat Party Seems to be anti- crypto as seen in Almost every crypto Hearing in Congress So so far the Democrats sudden 180 is Therefore very suspicious and reeks of Political opportunism nothing stinks More than the news that Biden will now Be hosting a crypto fundraising event in California for those unaware Trump had Also recently held a crypto fundraising Event in the state what's funny is that Many top ranking Democrat politicians Downplayed the significance of Trump's Crypto fundraiser but now they're Frantically trying to organize one for Biden logically this suggests that Trump's crypto fundraiser was Significant after all and could be Giving him some serious support now Biden's crypto fundraiser will Reportedly take place in early July and This just so happens to overlap with the Timeline that Bloomberg's ETF analysts Have given for the final spot ethereum ETF approval if it's true that the Initial approval was done for political Reasons then it's possible the second Will happen around this event and Between now and then Biden will debate Trump specifically on Thursday the 27th Of June as a fun fact this is apparently The earliest a debate between two Presidential candidates has ever been Held many believe this is because the

Democrats want to see if they need to Pick someone else as a candidate and if This turns out to be the case then Biden May not be the one hosting the crypto Fundraiser in early July it could very Well be California governor Gavin mome Who is reportedly the runner up if Biden Bows out of the presidential race Interestingly enough Gavin appears to be Somewhat Pro crypto on that note if you Want to know exactly when we think the Spot ethereum ETFs could be approved Exactly when we think Biden could drop Out and other such predictions then Subscribe to our Weekly Newsletter it's Where we publish our weekly Market Forecast and other crypto Alpha link is In the Description now when it comes to macro Factors the most important was the fed's Most recent meeting which could have Contributed to last week's downside Volatility in crypto what made this fed Meeting so significant was that it Included a summary of economic Projections or sep the fed's Expectations the sep showed that the FED Only foresees one rate cut this year to Put things into perspective the last sep Suggested the Fed was expecting three Rate Cuts this year investors were Expecting the FED to bring this back Down to two bringing it down to one was Perceived as hawkish and fed chairman

Jerome Powell made sure it was during His speech Jerome was asked whether the Slightly soft CPI that came in that Morning had affected the sep all he said Was that fed members had the ability to Change their interest rate expectations But they didn't translation we don't Care we're keeping rates higher for Longer this is eye-opening because even Official government data is starting to Show that the US economy is weakening if You watched our video about whether a Recession is coming you'll know that Some macro analysts believe it started Last October keeping rates high will Either make it worse or ensure that it Does start what's even more eye Openening though is how the fed's Hawkishness seems to have affected Things like currency Pairs and long-term Interest rates in terms of currency Pairs the fed's hawkishness seems to Have caused the dxy to rise FYI dxy up Typically means everything else down Namely risk Assets in terms of interest Rates the fed's hawkishness seems to Have caused the 10-year yield to fall Now this is fascinating because falling 10-year yields are supposed to be Bullish for everything particularly risk Assets the fact that risk assets took a Beating while the 10-year yield fell is A huge red flag for many Traders it Effectively tells you that investors are

Expecting long-term interest rates to Come down because of economic weakness The rising dxy is further evidence of This as it suggests that there's a Flight to safety among investors Including overseas investors this paints A bearish picture for the economy the Catch is that the economy and the Markets are two very different things Whereas the economy deals with the here And now the markets are forward-looking In plain English their price action Reflects expectations of what will Happen in the future and these Expectations typically involve money Printing the caveat though is that even The markets are starting to look wobbly This is just because most of the market Action we've seen over the last year or So has been the result of the AI Narrative to refresh your memory the AI Narrative began when open AI released The chat GPT chatbot back in 2022 naturally this has made open AI one Of the companies at the center of the AI Narrative even though open AI isn't Publicly traded its actions have had Indirect impacts on both AI stocks and AI cryptos look no further than founder And CEO Sam ultman being fired or Resigning or whatever last November now If you watched our video about open AI You'll know that it's a bizarre blend of A private company and a nonprofit valued

At a whopping $86 billion according to Recent reports Sam is now looking to Turn open AI fully private in a move That could very well result in an open AI IPO at some point open AI has also Added a former NSA director to its board In a move that NSA whistleblower Edward Snowden is calling a quote willful Calculated betrayal of the rights of Every person on Earth as most of you Will know Edward was the one who Revealed that the NSA was spying on Everyone given this fact open aai adding An NSA director to its board raises an Eyebrow and it raises both when you Realize that open AI is now helping Apple with its AI many believe this Integration could be used as a back door By open AI to spy on Apple users who Currently enjoy some of the best privacy Out there now believe it or not but this Is extremely bullish for AI cryptos on The one hand it's bullish because if Open AI does go private then it will Definitely be looking to IPO at some Point at the very least it will give the Company more freedom to integrate both Of these catalysts would take AI cryptos Higher on the other hand meanwhile these Open AI developments are bullish because They're making it clear to everyone that Centralized AI is not the way to go Centralization inevitably results in Corruption and some would argue we're

Witnessing it in real time Never mind that decentralized AI is Becoming more advanced and with all that Said it's about time we looked at last Week's top performing cryptos so Jessica Take it Away thank you guy well last week's top Performing cryptos were Unis swap ton Coin Oasis Network NCoin and Leo Finance Starting with Unis swap it's uni token Appears to have rally due to the dex's Deployment of the ZK in layer 2 as you Can see uni has been struggling to get Above a key resistance Zone around $12 a Rejection seems likely particularly Given that Unis swap Labs recently hired Another lawyer in possible preparations For an imminent SEC lawsuit next up We've got ton coin whose ton coin Appears to have rallied due to the Explosion in the game by games on the Telegram related layer one ton continued The multi-week rally that we have been Tracking recently it looks like it could Rally as high as $10 before correcting Though the recent rally to $8 could have Been a local top depending on the Broader crypto market conditions as for Oasis Network it's not entirely clear Why it's Rose coin pumped our best guess Is that it had to do with the recent Live stream that featured polka dot Flare Network and other prominent crypto Projects and companies what is clear is

That Rose's price action isn't looking Too promising it seems to be painting a Head and shoulders pattern that could Take its price significantly lower this Pattern will be invalidated if Rose can Break above 15 cents and maintain that Level when it comes to not coin the not Token appears to have pumped due to the Aformentioned gamei craze on ton coin FYI not coin is a game on ton coin Similar to Rose not is looking to Bullish it could be in the process of Painting a double top pattern which Could take it back to the lows prior to The recent pump just be aware that newly Launched cryptos have a tendency to Rally more than you would expect finally We have Leo Finance whose ldo token Appears to have pumped due to a website Upgrade if you look at Aldo's historical Price action you'll know that it tends To follow A peculiar pump in dump Pattern if history repeats ld's current Dump pattern could last for another few Weeks consistent with the possible Weakness in the broader crypto Market if You want to know which cryptos are Pumping in real time and also where you Can trade them be sure to check out the Coin buau Insider telegram channel the Link will be down 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 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 $60,000 on some of the Best exchanges only for the viewers of This channel also if you do want to pick Up some snazzy crypto merch the coin bu Merch store has you covered 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 [Music]

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    • bitcoinBitcoin (BTC) $ 64,409.00 2.25%
    • ethereumEthereum (ETH) $ 3,235.81 6.75%
    • tetherTether (USDT) $ 0.995508 0.45%
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    • the-open-networkToncoin (TON) $ 6.84 0.36%