Crypto News: BTC Rally, ETH Recovery, SOL, FTM, USDT & MORE!

Welcome to the coin Bureau Weekly News Roundup my name is guy and my name is Nick and I'm covering for Jess who is a Way to from the office here are the top Stories in crypto this [Music] Week Bitcoin finally recovers BTC Rallies after the CPI for April comes in Within expectations and ETF inflows Accelerate how high could Bitcoin go eth ETF speculation Crypto analysts debate whether the SEC Will approve or deny the spot ethereum ETFs this Thursday what does this mean For eth tether under scrutiny Ripple's CEO claims the US government will be Cracking down on Tether as one billion Usdt is printed all while at the same Time Kraken considers delisting the Stable coin in the EU everything you Need to know China prints money the Chinese government report reportedly Begins buying homes to prevent its Housing market from imploding how could This affect the crypto market and a Close a 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 experienced an Explosive recovery rally after the CPI Numbers for April came in within Expectations and spot Bitcoin ETFs began Seeing sizable net inflows again notably

The CPI numbers seem to have spurred the ETF inflows suggesting that spot Bitcoin ETF investors are focused on macro Factors as you can hopefully see there Were actually minimal inflows on the day Prior to the CPI print and even on the Day of the print itself it was only in The days that followed that the spot ETF Inflows really started ramping up this Is significant as it suggests we too Must pay close attention to Matter's Macro if you're subscribed to our Weekly Newsletter you'll know that we do an Analysis of upcoming crypto and macro Factors and what impacts they could have On the crypto market so be sure to Subscribe to our Weekly Newsletter using The link in the description so you don't Miss our weekly Market forecast but back To the significance of macro factors the Fact that BTC responded so strongly to The CPI print suggests that any other Economic prints will be met with similar Levels of volatility and not all ways to The upside if the CPI starts coming in Above expectations for example BTC could Experience a sharp correction conversely If the economic condition of the US Continues to deteriorate then this could Paradoxically be bullish for BTC and Other risk assets that's simply because It would increase the likelihood that The FED will decrease interest rates Just like gradually lower CPI prints

Would if you watched yesterday's video About a potential recession you'll know That the worst possible outcome would be Stagflation that is rising unemployment With high or Rising inflation in these Conditions it would be difficult for Central banks to act in a way that would Stimulate risk assets barring Stagflation or any black swans on the Crypto or macro FRS though it's likely That crypto will continue to grind Higher this is just because the treasury Department will likely continue to juice The economy leading up to the election And the FED will be accommodating so Long as inflation stays put the result Could be the 100K BTC Target that many Traders have been calling for one that Will be within sight if and when BTC Breaks above the upper bound of the Range it's been trading in on the daily Chart since late February as you can see This range is somewhere between 61 and 72k breaking above 72k would cause a Breakout of the bull flag to 100K that Traders have been watching on the weekly A bull flag that many believe is Analogous to the one we saw in late 2020 Before the crypto Market went parabolic However it's possible that BTC is in a Distribution pattern signaling a local Top now if you want to maximize your Gains whichever way the market goes then Be sure to check out the coin Bureau

Deals page it's got trading fee Discounts of up to 60% and signup Bonuses of up to $60,000 on the best Crypto exchanges these deals are for a Limited time only and are exclusive to Viewers of the coin Bureau so take Advantage of them while you can using The link in the description now while Everyone has been focused on BTC it Seems that eth is finally starting to Make some big moves this is evident on The Daily eth BTC chart which suggests That eth could keyword could have hit a Local or even a cycle bottom relative to BTC foreshadowing eth potentially Outperforming BTC of course this is due To speculation about the possibility That the SEC could approve the spot Ethereum ETFs this Thursday its final Decision date as most of you will know The consensus is that the spot ethereum ETFs will be rejected as the SEC is Expected to declare eth a security in Upcoming lawsuits if you watched last Week's crypto review you'll know that This speculation has been brewing ever Since the likes of Black Rock and JP Morgan made comments suggesting that the Spot ethereum ETFs could still be Approved even if the secc alleges eth is A security coinbase is now echoing a Similar sentiment in a recent report Coinbase argued that the markets are Quote underestimating the possibility of

A spot ethereum ETF approval and that There could be quote surprises to the Upside as a result this should come as No surprise if you're a regular viewer We we've been saying this for almost 2 Weeks now although it is likely that the Spot ethereum ETFs will be rejected There could still be upside surprises That's because the crypto Market has Been very bearish on eth evidenced by The aforementioned eth BTC chart the ETF Rejections upcoming lawsuits and Security status have arguably been Priced in this means that if any one of These things doesn't happen then it Could result in an upside surprise Particularly when you factor in Old Traders who are short eth for example Maybe the ETFs get rejected but the Lawsuits never come or vice versa Surprise ETF approval but lawsuits Launched this just underscores something To always keep in mind and that's how Investors are positioned the more Investors are bearish on an asset the Higher the risk of an upside surprise This is why bare markets tend to be slow Grinds lower with big rallies in between The short leverage causes short squeezes On the flip side bull markets tend to be Slow grinds higher with big crashes in Between due to all the long leverage Being shaken out funly enough it's hard To identify whether BTC is in a bull or

Bare Market based on this Criterion as It's seen a mix of both over the last Few months in any case if you're Wondering why it's likely that the spot Ethereum ETFs will be rejected the short Answer is that this is what happened With the spot Bitcoin ETFs in the past The SEC would delay the applications Until the final date before rejecting in That sense history is repeating so far If you're wondering why it's possible That the spot ethereum ETFs could be Approved well the short answer is that The sec's enforcement arm is not in Charge of approving or rejecting ETFs this is presumably why black rock JP Morgan and others remain optimistic Despite the sec's aggressive enforcement Arm as a cherry on top it's possible That there's political pressure to get The spot ethereum ETFs approved for Context many believe that the Democratic Party is inherently anti- crypto which Is understandable given that many of the Key players in the Crackdown are Democrats namely of course Elizabeth Warren this has resulted in a sudden Surge of Republican support from crypto Holders and the crypto industry which The incumbents understandably want to Reduce convincing Gary gendler and the Gang to approve the spot ethereum ETFs Would be one way of swaying the minds of Pro crypto voters but then again it

Would just prove to everyone that the SEC is political as many have long Suspected now speaking of crypto Crackdowns the US government is Reportedly going after tether at least According to Ripple CEO Brad Garlinghouse for reference tether is the Issuer of usdt the largest stable coin Which accounts for the Lion's Share of Trading volume in crypto we'll come back To that in a second now as tether CEO Paulo Arduino and many others have Pointed out it's likely that Brad only Said this because Ripple is reportedly In the process of launching a stable Coin of its own this means that Ripple Would stand to gain from additional Tether scrutiny as would Circle and Black rock that matter even so it's Objectively true that the US government Has been scrutinizing tether over the Last few months the thing is that the Stable coin issuer seems to have made Peace with us regulators and by made Peace I mean that they're literally Working with us agencies to ensure Everything is above Board not only that but the US Government has a vested interest in Ensuring that stable coin issuers become Bigger be they tether or otherwise That's because most of the stable coins In circulation are backed by US Government debt this means that all

Stable coin holders are subsidizing US Government spending That's Why Us Officials are probably applauding Tether's 1 billion usdt print as it Means that another $1 billion of US Government debt was bought by Unsuspecting crypto holders oddly enough These prints are also celebr ated by Crypto holders but for completely Unrelated reasons you see it's believed That the usdt tether is printing is Being used to buy BTC and even other Cryptos if you watched our video about Stablecoin market caps however you'll Know that these huge usdt prints are due To an increase in demand for leverage Trading which tends to spike when crypto Prices get volatile in case you forgot Crypto experienced a massive rally last Week that my friend is volatility this Means that there were likely lots of Traders who wanted to go long or go Short to maximize their profits in Practice this requires purchasing usdt As most Futures contracts are Denominated in usdt the same is true for The spot Market usdt continues to be the Primary trading pair especially for Midcap and small cap altcoins this is Why crypto holders are nervous about the News that Kraken is considering de Listing usdt for EU users something it Will probably need to do because of mic To bring you up to speed mic stands for

Markets in crypto assets the eu's new Crypto regulations one part of Micah Pertains to stable coins and states that Any USD stable coins that have more than €2 200 million EUR of trading volume and 1 million transactions per day must be Banned by the end of June in Practical Terms this means that basically every US Dollar stable coin will need to be Delisted for EU users by the 30th of June what's odd though is that so far Most of these eud listings have centered Around usdt we suspect this is because Usdc does not meet the threshold for an EU ban at least not yet regardless the Fact of the matter is that it appears Many exchanges will be delisting usdt For EU users by the end of next month So if you are based in the EU we Strongly suggest reaching out to the Exchanges you use to ask what will Happen to all the usdt trading pairs They offer mainly for alts if you think This isn't relevant to you well consider That almost 20% of all Global crypto Trading volume takes place in Western Europe alone according to chainalysis to Put things into perspective North America is only first by a small margin And Europe is bigger if you include Eastern Europe in the mix what this Means is that the usdd listings could Have a profound effect on the crypto Market and I'll reiterate that this

Effect will likely be felt the most by Small cap altcoins as most of them only Trade against usdt for what it's worth Dexes are still a thing even in the EU Which seems to want to ban defi by the Way whatever the case it seems that any Bearish crypto catalysts coming out of Europe Europe will be offset by the Enormous amount of money printing that's About to come out of Asia specifically China for those unaware China is in the Process of deflating a housing bubble That accounted for 20% of its economy Initially China responded with minimal Stimulus as it didn't want to cause Inflation and also didn't want to risk Devaluing the Yuan if you watched our Video about China's new Central Banker You'll know they brought in a new Governor to ensure that the Yuan value Didn't fall through the floor you'll Also know that the only way that China Would be able to ease would be if the Fed and other central banks started Easing first given how doish most other Central banks have been it seems that China has gotten just enough wiggle room To inject some much needed liquidity Into its economy naturally this stimulus Is concentrated around the housing Market and it consists of three changes Lowering the mortgage rate and lowering The D payment which makes housing more Affordable and giving $42 billion to

Provincial authorities to buy up unsold Homes to further support prices now this Might not sound like much but it's the Biggest bailout that the Chinese Government has offered so far and it's Led to speculation that an even bigger Bailout will come if this one doesn't Work seeing that the previous tweaks Around the edges were unsuccessful the Chances of further stimulus are very High so when you combine this with the Likelihood that other central banks will Start lowering interest rates it seems Almost guaranteed that China will inject More stimulus as soon as it can as a not So fun fact it's believed that China is Trying to contain its bursting housing Debt bubble as the blast could affect Everyone else this would explain why Officials from the US and elsewhere have Frequently been visiting China and could Also explain why zi jingping himself has Been traveling abroad From the outside looking in it looks Like everyone is trying to keep this Inherently unstable Financial system From finally falling over the reality of The situation is ultimately why crypto Was created and in time it will become Clear to everyone that crypto is about Much more than speculation in the Interim it will continue to be a sponge That absorbs all the liquidity from the Stimulus required to keep the financial

System afloat now research by macro Analyst Michael Howell suggests that it Takes between 6 and 8 weeks for BTC to Be affected by changing liquidity Conditions this means that crypto may Not feel the effects of China's most Recent stimulus until later in the Summer the same is true for the Federal Reserve and the treasury between now and Then it's possible that crypto could see Another dip lower due to last month's Tax related liquidity drain but in the Short term it's clear that the trend is Up and to the right and that is all that Matters just remember to let the markets Tell you where they're going not the Other way around and with all that said It's about time we looked at last week's Top performing cryptos so take it away Jessica I mean Nick thank you guy now last week's top Performing cryptos were Phantom chain Link Bonk Ono finance and Salana starting with Phantom ft appears To have pumped on the release of more News related to Sonic Phantom's upcoming Sister chain note that we'll be doing a Updated Phantom review on the channel Later this week so of course stay tuned For that one now as you can see FTM Appears to be in the process of painting A bull flag on its long-term price Charts if it plays out FTM could go as High as

$2 either way it's going to be really Interesting to see how FTM performs After the release of this so-called Sister chain and next up we have chain Links link now this appears to have Pumped due to the release of the results Of the crypto Oracle recent Partnerships With the dtcc as well as other large Trafi Institutions in contrast to FTM link Appears to be painting more of a head And shoulders pattern this could be Because link faces significant Resistance around the $20 level if it Can get above that level level though Then it may turn into a bull Flag however uh for the time being it Looks like it may struggle to go higher And when it comes to Bonk it appears to Have pumped due to the mean coins Promotion at the recent EDC music Festival in Las Vegas D Jens and Electra what a Combination anyways similarly to link Bon appears to be painting a head and Shoulders pattern but it's inverse Meaning it's it's bullish believe it or Not though but it looks like Bon could Pump by another 50% before eventually Correcting on the possible Head and Shoulders pattern it would paint and as For Ono Finance Ono appears to have Pumped due to an update to the Ono DOI Dashboard now this basically lets

Liquidity providers keep track of the Points they've been earning on this Innovative rwa Protocol what it means for price is that It seem seems to have caused Ando to Break out of the channel it had been Forming over the last few weeks if this Breakout continues Ando could go as high As $130 and last but not least we have soul Which appears to have rallied on an Upcoming upgrade that seeks to solve Salana suggestion issues once and for All Solana's Phantom wallet has also Seen increase in rankings on numerous App stores which of course suggests more User downloads and users come into the Network What's spooky though is that Soul's Long-term price action looks scarily Similar to the way it did in the 2021 Cycle Top however when you view it in context Of the price action we've seen since Then it looks more like a massive cup And handle pattern that's quite similar To those AI cryptos we've been talking About in the past few weeks in this case The target could be about $350 if you want to keep track of which Cryptos are pumping and where you can Trade them then be sure to check out the Coin Bureau telegram Channel using that Link down in the

Description and that is all for today's Coin Bureau weekly crypto review 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 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 want to pick up some snazzy Crypto merch the coin Bureau merch store Has you covered you can find the link to Those resources and many others in the Description below thank you so much for Watching and we'll see you in next Week's episode [Music]