Crypto News: Bullish ETH Updates, ETFs, Binance, BCH & More!

Foreign To the coin Bureau Weekly News Roundup Here are the top stories in crypto this Week Crypto Market chop prices move almost Perfectly sideways with surprise macro And crypto factors shaking the markets On Friday what's in store for the crypto Market this week Bullish ethereum updates the CME plans On launching an eth product Hong Kong Launches an ethereum ETF and coinbase's Layer 2 prepares to launch why isn't Vitalik staking all his eth Binance troubles Brewing the world's Largest crypto exchange continues to Pull out of countries as it reportedly Loses its banking partner in Europe when Will the regulatory scrutiny end 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 Good morning afternoon or evening thank You for tuning in my name is Guy none of What follows is financial advice and Here is the news Last week the crypto Market moved mostly Sideways due to the relative absence of Any significant crypto or macro factors Friday was the exception the pce for May Came in lower than expected and the Wall Street Journal reported that the SEC had Deemed the recent spot Bitcoin ETF

Filings as inadequate If you've been keeping up with our Summaries of the fed's press conferences You'll know that the personal Consumption expenditures index or pce is The fed's favorite inflation figure You'll also know that a lower than Expected pce reading therefore suggests The FED could ease sooner than expected The caveat in this case is that although Headline pce fell below four percent Core pce remains high at 4.6 percent While a declining headline pce is still Good news due to setting inflation Expectations sticky core pce is a big Problem for the Fed Jerome Powell specified that core is What they're watching closely When you combine a high core pce with Revised numbers for q1 GDP that suggests The U.S economy grew more than expected What you get is an even higher chance of A rate hike at the feds meeting later This month Lo and behold investors are pricing in An 87 chance of another 25 basis point Hike however this didn't seem to affect Btc's price that much which isn't all That surprising given that crypto hasn't Been as correlated to stocks lately Which rallied as they always do The big Catalyst in btc's case was the News that the SEC believes the recent Spot Bitcoin ETF filings are inadequate

Before the crypto industry could even Get a grip on what was going on btc's Price tanked primarily due to Liquidations from over-leveraged longs Once everyone realized that it was Another one of those according to Sources familiar with the matter Situations the crypto Market started to Calm down after a few hours BTC was back Above 30k and most of the institutions That had filed for a spot Bitcoin ETF With the SEC had refiled according to The supposed specifications This begs the question of where the Crypto markets are headed next and the Answer really depends on which Indicators you watch What's interesting is that bitcoin's Dominance seems to have fallen slightly After the ETF fund and didn't manage to Recover meanwhile ethereum's dominance Increased slightly and has held its Ground now this could be a sign that Investors were taking profits on BTC and Rotating those profits into eth This would make sense considering that BTC has been abnormally strong against Teeth lately if you've been keeping up With our weekly crypto reviews you'll Know that we've been tracking eth's Strength or rather its lack thereof for The last few weeks despite eth's recent Strength it's still looking weak as you Can see there was a bearish monthly

Close for eth against BTC with a Bollinger band squeeze this foreshadows Trouble for eth and altcoins assuming That this squeeze breaks to the downside Given that similar weakness can be seen On the shorter term eth BTC charts this Does seem likely all that's missing is a Catalyst of some kind that would cause Capital flight out of eth and into BTC The top candidate seems to be the sec's Recently proposed rule to expand the Definition of exchange so that it Includes D5 protocols As it so happens the comment period for This rule closed two weeks ago this Means that the sec's new rule could be Announced at any moment and as soon as It is the SEC could crack down on defy Given that ethereum is home to the Largest D5 protocols this could do Indirect damage to eth and it appears That institutional investors are Preparing to capitalize on this That's because the Chicago Mercantile Exchange or CME a derivatives exchange Used by institutional investors is Planning on listing an eth BTC Futures Product at the end of the month This will give institutional investors The ability to capitalize on any eth BTC Volatility to the upside or downside now Here's where things get spooky A CME spokesperson said they're Introducing this product because quote

Historically ether and Bitcoin have been Highly correlated however as the two Assets have grown over time market Dynamics may affect the performance of One more than the other creating Relative value trading opportunities Some would say that these institutions Are waiting for something Speculation aside even if there's Another unappetizing regulatory Development in the United States there's No shortage of other jurisdictions that Have been preparing to sit down at the Crispy crypto Buffet One of these is Hong Kong which recently Legalized crypto trading for retail Investors the headlines we've seen out Of the Chinese administrative State Since that time have been nothing short Of bullish one of the most recent ones Was that hsbc's Hong Kong Branch had Launched support for Bitcoin and Ethereum futures As with all headlines though there's Much more to this story according to Coindesk the news about HSBC offering Bitcoin and ethereum Futures is a bit Overblown because they've technically Been offering these investment products To their clients since last December All that happened was that these Products were made even more accessible Some would say that this small move is Still meaningful especially when you

Consider all the other Pro crypto moves That have been coming out of the Territory recently the only reason why We haven't seen any fireworks is because Exchanges are still waiting to get Approved to serve retail investors you Can learn more about that using the link In the description Now in news that's more relevant to Ethereum it was reported that coinbase's Layer 2 scaling solution for ethereum Dubbed base will be launching soon As a fun fact bass was built with the Help of developers at optimism which is Ethereum's second most popular layer 2 Scaling solution as an even more fun Fact coinbase and optimism developers Have been working on the next major Upgrade to ethereum EIP 4844 I'll give You the details in our long overdue Ethereum update later this week but the Tldr is that eip-4844 will make ethereum A scalable as centralized Payment Systems now this is insanely bullish Because it will open the door to what is Arguably ethereum's deadliest use case And that's payments obviously there are Still some regulatory hurdles that Ethereum must overcome but again these Hurdles are much lower outside of the United States and eth's price will Respond in kind this is why it's bizarre That ethereum Creator Vitale buterin is Reportedly staking a quote small portion

Of his eth Alik explained that it's Basically because of security reasons The way that staking on ethereum works Now vitalik's eth stake could Theoretically be at stake pun intended In all seriousness the fact that vitalik Is hesitant to stake more than a small Portion of his eth underscores the fact That ethereum still has a long way to go The Silver Lining is that this means That eth's price still has lots of room To grow so long as Regulators don't Completely crack down on staking that is On that note the one crypto company That's been receiving no shortage of Regulatory scrutiny lately is binance This is to be expected given that it's By some distance the largest Cryptocurrency Exchange in the world but Some would say that the Crackdown has Still been unprecedented Just last week Regulators in Germany Reportedly rejected binance's Application to become a crypto custodian The Exchange subsequently withdrew its License application in Austria For context binance has recently been Pushed out of some European countries And has pulled out of others what Everyone was wondering was when binance Would lose access to banking services Given that this seems to be the Preferred pressure point for regulators Well last week we got an answer starting

From the 25th of September binance will Lose its current banking partner paysafe For Euro bank transfers The good news is that binance is looking For a new banking partner and will Probably find one the bad news is that We've seen this story before Specifically with binance us in the United States where a temporary Suspension of USD payments turned into a Permanent inability to process them Now for what it's worth binance's Institutional Partners reportedly remain Optimistic that the exchange will make It through this regulatory rough patch And we happen to agree the worst case Scenario seems to be that binance's Market dominance declines The Exchange Will almost certainly continue to exist There's been another nugget of fortunate News related to binance Meanwhile and That's that the exchange will be Re-listing the Privacy coins that it was Going to de-list for some European users This headline is a bigger deal than you Think because it could mean that privacy Coins will be allowed in the EU big if True In retrospect the spats that binance and Other crypto companies and projects have Had with Regulators around the world Will appear beneficial in the long run Someone needs to push the boundaries of What's allowed complying when it's not

Required means seeding territory in a War for Financial Freedom this doesn't Mean breaking the law or even bending The rules it means asking the question Of why some people in some places are Allowed to do certain things while other People in other places are not what's Right is often in the middle and it's a Struggle to get there when you're Starting from extremes Crypto philosophy aside binance is Reportedly looking to plant its flag Somewhere in the East probably in the Middle East and possibly here in the UAE As reported by cointelegraph many Binance Executives believe that the UAE Is where the future of crypto will be Written we happen to agree but we're Forever stuck in the present for binance Planting its flag in the UAE could mean Short-term pain as fiat-backed Financial Regulators around the world take aim at The largest crypto Exchange No matter what happens though just Remember that the result will be a Long-term gain for the crypto industry In the meantime make sure you're keeping Your crypto safe on a hardware wallet You can find our guide on how to safely Self-custody your crypto using the link In the description Anyways turning to the charts we can see That BTC isn't really doing anything I Can't say I spot a clear Candlestick

Pattern and the trusty Bollinger band Indicator I've been using lately isn't Suggesting anything on any time frame Except maybe the four hour chart where There's a massive squeeze the same is True for eth the only difference is that Eth saw a sudden squeeze to the upside On the four hour which turned out to be A fake out come to think of it it's Possible that this sudden Spike was due To Celsius converting its altcoins into Eth it would also explain the rise in Ethereum dominance In any case last week's top performing Cryptos were compound Bitcoin cash ecash Bitcoin SV and flow no comment Starting with compounds comp token comp Appears to have pumped on the news that Compound Labs had launched a new website And the compound Finance founder Robert Leschner had filed with the SEC to issue Government bonds on the ethereum Blockchain godspeed good sir When it comes to price action comp is Pushing up on the upper Bollinger band If it can squeeze out to the upside comp Could be in for a multi-week rally but The Candlestick pattern suggests that It's about to see a huge correction I'll Let you figure out which pattern that is On your own time Now next up we have Bitcoin cash whose Bch coin pumped for unspecified reasons Reporting by coindesk suggested the

Rally was fueled by South Korean Traders If anyone has any insights into what's Going on over there feel free to drop a Comment down below Similarly to comp bch has exploded Outside of its weekly Bollinger Bands To The Upside as expected it's having a Hard time getting above that 300 level a Key psychological barrier a reversal Could be imminent but we could just as Easily see more buying out of Asia for Whatever reason As for ecash meanwhile it's xec coin Appears to have pumped because of Development updates Now we are not all that familiar with This crypto project so we can't really Speak to them in detail but it sounds Like ecash will be leveraging the Avalanche consensus mechanism for Payments Similarly to bch xec is struggling to Get above a key price level that starts With so many zeros that I literally Can't repeat it If it can get above this key level the Bollinger Bands suggests it will squeeze To the upside if it can't it's going to Squeeze to new all-time lows at least on Binance now about Bitcoin SV there's not Much I can say it's bsv coin pumped for No particular reason and it's long-term Price action doesn't look promising There's lots of resistance around the 50

Level If it can somehow manage to break above It faces even more resistance until Seventy dollars rejection means lower And finally we have flow whose flowcoin Appears to have pumped on the news of an Upcoming smart contract upgrade a Handful of Partnerships and apparently Winning an award at a recent chain link Hackathon too bad the SEC labeled flow As a security in its suit against Coinbase Gary gensler's Kiss of Death Can be clearly seen on flow's price Chart even with the recent rally it's Below the key Bollinger band moving Average on the weekly and is struggling To get above 70 cents If Gary steps down as some rumors Suggest then Flo could experience a Surprise recovery all I can say is Fingers crossed 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 forty thousand Dollars 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 I'll See you all in next week's episode

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