Crypto News: Ethereum, Tether FUD, BTC, ICP, SEI & MORE!!

Welcome to the coin Bureau Weekly News Roundup my name is guy and my name is Jessica a very Happy New Year to you From all of us here at coin Bureau happy New Year guys thanks Jessica Happy New Year to you too here are the top stories In crypto this [Music] Week crypto Market chop BTC trades Sideways while altcoins pump and dump And investors await the spot Bitcoin ETF Approval why the market could rally as Soon as this week return to Roots Ethereum Creator metalic boin Pond is Making eth cyer Punk again as analysts Predict it will outperform BTC when will Eth finally explode to the Upside more tether fud China calls for a Crackdown on usdt after another 1 Billion appr printed leading to renewed Speculation about the largest stable Coin how exactly does usdt impact the Crypto Market Market melt up major stock Market indices hit new all-time highs Foreshadowing similar moves in the Crypto Market everything you need to Know 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 Traded mostly sideways this was due to a Combination of factors the main one Being that not much was going on and

Most people were on holiday the result Was relatively stagnant price action for BTC and most altcoins with a few Exceptions which we'll come back to Later now although price action was calm There was some activity going on beneath The surface for instance crypto Exchanges saw their largest BTC outflows In over a year last week this is Significant because it suggests that Traders are preparing to huddle BTC Presumably in anticipation of the spot ETF approval as some of you will know The Practical effect of less BTC on Exchanges is that its price is more Volatile the same goes for eth and other Cryptos for that matter what this means Is that any moves to the upside or the Downside could be that much more Exaggerated over the next couple of Weeks add some short squeezes and Leverage long liquidations into the mix And you have a recipe for some serious Crypto Market volatility all that's left Is a spark to light the fire and it Looks like the crypto Market could get One of those this week as you might have Guessed it has to do with the spot Bitcoin ETF now according to Reuters if The SEC is planning to approve the spot Bitcoin ETF during its next decision Window which begins this Friday then it Will likely inform the asset managers Who applied early this week if this

Happens then it's possible that the news Of this approval will be leaked to the Press and if that happens it's likely That BTC will rally along with the rest Of the market as we saw with the fake Spot Bitcoin ETF approval news in October the BTC rally could be sizable Of course if the approval turns out to Be fake news once again then BTC could Give back those gains just as quickly Now from a purely technical perspective BTC continues to consolidate AKA trade Sideways on the daily chart as you can See the Ballinger bands are starting to Squeeze which suggests that a sudden Move to the upside or the downside could Be imminent given the circumstances to The upside seems likely zooming out to The weekly reveals a potential bull flag For BTC which could take its price to Around 50k if it plays out if you Watched our video about how high btc's Price price could go after the ETF Approval you'll know that this is Roughly how high the initial ETF inflows Would take BTC given various assumptions Now if you're planning on trading the Imminent spot Bitcoin ETF approval then Check out the coin Bureau deals page It's got trading fee discounts of up to 60% and signup bonuses of up to $40,000 on the best crypto exchanges and It's limited time only and exclusively For the viewers of this channel you can

Get that down in the description below Anyways btc's static price action often Tempts liquidity to flow into altcoins Starting with eth as we've seen however Most of this liquidity seems to have Skipped eth and gone straight into other Altcoins namely Soul well the charts Suggest that this could finally be about To change for starters the eth BTC chart Appears to be painting a double bottom On the weekly a assuming this pattern Plays out eth could rally by as much as 10% against BTC note that this doesn't Translate into a rally of 10% in theat Terms per se but it does Mark a Significant strengthening in eth Relative to BTC funnily enough this 10% Gain is consistent with the apparent Outperformance eth would see if the bull Flag on its weekly chart in Fiat plays Out this bull flag if it plays out would Cor Corr respond to an eth price of Roughly 2800 a 20% gain from current Prices compared to the 10% gain for Btc's weekly bull flag so this begs the Question of what Catalyst would cause Eth to outperform BTC to such a degree Obviously there are many potential Answers but three come to mind the first Is that the spot Bitcoin ETF is approved This would likely lead to speculation That the spot ethereum ETF will be Approved next the second possibility is That the spot Bitcoin ETF is delayed

This would likely result in an eth pump As well because impatient BTC holders Would probably rotate into altcoins While they wait for the final decision Date in March it's likely that most Altcoins would pump a lot in this second Scenario the third possibility is almost A guarantee and that's that ethereum's Denune upgrade will go live in in January if you watched our recent Ethereum update you'll know that the Denon test net is set to go live on the 17th of January it's likely that eth Would rally before and even after this Important Catalyst for context the Denon Upgrade will make ethereum's layer 2os Cheaper and faster and as we pointed out In that video this could paradoxically Lead to a situation where ethereum's Layer 2os see bigger benefits than the Base chain believe it or not but this Was even pointed out by coinbase in a Report from 2022 now this apparent Paradox could be The reason why vitalic has suddenly been Talking a lot about improving ethereum Itself for reference vitalic has been Hyperfocused on layer 2os for a long Time just recently though he said that He wants ethereum to return to its Cipher Punk roots that is to be more Crypto for those unfamiliar being more Crypto means being more open Decentralized censorship resistant and

So on there have been concerns about all Of the above ever since ethereum Transitioned to proof of stake and many Of ethereum's layer 2s have likewise Compromised on Decentralization among the ideas that Vitalic has to make ethereum better one Involves something called single slot Finality in plain English this makes it Possible for transactions on ethereum to Be considered Final in 30 seconds to put Things into perspective finality on Ethereum currently takes 13 minutes this And other proposed improvements to Ethereum could be the reason why more Analysts are coming out and predicting That eth will outperform BTC this year While it's still a bit too soon to say For sure what we see over the next few Weeks could very well lay the Foundations for eth's big 2024 however this all assumes that the Crypto Market won't get slapped by a Tail Risk by now most of you will know That a tether Crackdown is one such tail Risk to bring you up to speed us Authorities have been making subtle References to tether in their Anti-crypto rhetoric lately but that's Nothing new what is new though is seeing This same rhetoric coming from China Chinese authorities recently reminded Their citizens that trading crypto for Yuan and vice versa is illegal on the

Mainland what's fascinating though is That holding crypto is technically legal In China at least according to various Court rulings in any case what caught Our eye about the statement is that it Was made by two Chinese authorities one Of which is the state administration of Foreign exchange or safe great acronym NOW as the name suggests this Authority Is responsible for implementing and Upholding China's strict Capital Controls now here's where things get Crazy if you watched our video last year About China's new Central Bank Governor You'll know that he oversees safe and as Head of that agency was even responsible For imposing China's strict Capital Controls this makes sense given that he Was brought in to defend the yuan's Value some of you might remember that we Speculated about the possibility that Safe would crack down on Tether due to Usd's use in circumventing those Capital Controls well lo and behold the joint Statement by safe and the other Chinese Authority made comments to that effect And here's where things get even crazier Around the time that Chinese authorities Made this statement they also released Details about the arrest of Xiao dong The so-called OTC King as the nickname Suggests Xiao was heavily involved in Helping Chinese citizens use usdt to Move money in and out of the country and

Xiao wasn't just a usdt Trader either According to a report by protos Xiao was And still could be a major shareholder In bitfinex tether's sister company not Only that but Ren Ren bit xiao's OTC Trading platform was the official launch Partner for tether's Yuan stablecoin Given these facts it's possible that Chinese authorities revealing details About xiao's arrest were a means of Simultaneous ly warning Chinese citizens And tether that they're serious about Their stance on usdt and crypto in General now consider that tether is Based in Hong Kong according to Bloomberg it's against this backdrop That tether printed yet another 1 Billion usdt as always this led to Accusations that tether was pumping the Crypto market now to be fair tether did Announce that it would start buying BTC Using a portion of its monthly profits Back in May and tether is making lots of Money but the idea that usdt is being Used to pump and dump crypto prices Doesn't make sense from a supply and Demand perspective that's simply because If usdt was being used to pump crypto That means it would be sold for that Other crypto that much sell pressure Would cause usdt to deeg and vice versa Those of you who watched our video about Stablecoin market caps will know that The price primary demand driver for usdt

Is leveraged trading when Traders want To go long or go short they almost Always need to buy usdt not sure if You've noticed but a lot of people are Going long because of the ETF approval As such it's likely that we could see Another enormous usdt print in the next Week or two crypto prices would rally But not because of that USD print they Would rally because of the broader Speculation about an imminent spot Bitcoin ETF approval with everyone Buying usdt to go long the more you know Now speaking of rallies it's possible That the stock market will continue to Rally for the next few months in what Some are calling a melt up this is for Multiple reasons and if you're Subscribed to our Weekly Newsletter then You already know of a couple of them Including the so-called January effect So be sure to subscribe to our Weekly Newsletter so you don't miss our next Weekly forecast link is in the Description anyhow another reason why The markets could continue to Rally has To do with interest rates specifically Interest rate Expectations in case you missed the memo The FED has signaled that they will Begin lowering interest rates this year This has fueled most of the recent rally Now unless the FED walks back its doish Statements and projections then stocks

Could continue to Rally much like crypto Because of the imminent spot Bitcoin ETF and like crypto it seems that this Expected decline in interest rates is Causing small cap stocks to Rally the Most now you might be wondering why this Matters after all there's been a Relatively low correlation between Stocks and crypto in recent months Particularly between BTC and the stock Market even so it appears that the Correlation between altcoins and small Cap stocks is increasing case in point The Russell 2000 Index saw a recent Bottom in October as it so happens this Was when most mid and small cap altcoins Bottomed to from our perspective this is Evidence that small cap stocks and small Cap cryptos are being held by the same Kind of investors likely retail Investors this would explain the lack of Correlation between large cap stocks and Large cap cryptos that's because Institutional investors are more Involved in large cap stocks and large Cap cryptos the absence of correlation Between them could therefore be a sign That institutions aren't that involved In crypto this makes sense considering That most institutions are probably Waiting for the spot Bitcoin ETF to get Approved before investing in BTC the Evidence for this can be seen in the Record high trading volumes on the CME

And other institutional focused Exchanges that trade paper contracts for BTC and eth if all of this trading Volume was happening through spot ETFs Then it would have a direct effect on The price of BTC and eth but alas all That's being traded is paper contracts Which don't have a direct effect the Silver Lining is that all this trading Reveals All the institutional money Waiting to get into BTC and eath but Back to the small cap stocks and cryptos Assuming that small cap stocks are Rallying because of the expectation of Declining interest rates and that small Cap stocks are correlated to small cap Cryptos then both of these asset classes Could continue to rally and outperform Large caps for the foreseeable future The two dates to watch out for in this Regard are the 31st of January and the 20th of March that's because these are When the next fed interest rate Decisions are now the March decision Will include an updated projection on Where the the FED sees interest rates Heading and this is when they could pull The rug out from under the markets until Then though don't be surprised if Altcoins rally more than you expect on Which note it's about time we took a Look at last week's top performing Cryptos so take it away Jessica thanks Guy well last week's top

Performing cryptos were Bitcoin SV say Orinal teller and the internet computer Starting with Bitcoin V it bsv coin Appears to have pumped due to Speculative trading on South Korean Exchanges that's because bv's trading Volume was 5 to 10x higher on upbit than Any other crypto exchange that offers The coin upbit is the South Korean Crypto exchange by the way now as you Can see bv's recent rally has been Nothing short of parabolic and there Doesn't seem to be much resistance on The way up this means the bsv could Continue to Rally but it's important to Remember that this assumes that btc's Price will stay stable or rally too next Up we have SE whose SE coin appears to Have pumped due to a spike in nft traded Volume on the salana killer I'll quickly Note that we recently covered say for Our coin Bureau club members you can Check out the coin Bureau deals page in The description to learn more about that Now as you can see say keeps hitting new All-time highs This means that it's still in price Discovery mode and that means that it's Impossible to say for sure where it will Go next punen intended the psychological Level of $1 will probably be a key Resistance level on the way up as for Ordinals its a token appears to have Pumped due to the renewed hype around

Ordinal nfts on bitcoin come to think of It it is possible that Audi's pump and The bsv pump are simply due to the Upcoming spot Bitcoin ETF approval in A's case though the nft hype is probably The main reason as would say Audi keeps Hitting new all-time highs and this Makes it very hard to say where its Price will go next as with say it's safe To assume the next psychological price Will be a key level of resistance in This case $100 note that people could start Selling just below this price level in Terms of teller its trb token appears to Pumped on the news that the project will Be launching a bc20 compatible layer one Oracle chain sometime this year like AUD N say tb's price action has been Parabolic as of late the difference is That tb's price action has been so Parabolic that it's starting to lead to Accusations of price manipulation so Watch out with Tab finally we have Internet computer Whose ICP coin appears to have pumped Due to the launch of the internet Computer subnet that's compliant with EU Regulations unfortunately ICP is still 98% down from its all-time high even With the recent rally for what is worth The fact that ICP has been beaten down So badly could mean that it will Surprise to the upside this cycle if you

Want to keep track of which crypto Projects are pumping and why be sure to Join the coin Bureau telegram channel The link will be in the description And that is 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 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 do Want to pick up some snazzy crypto merch The coin bu merch store has it all you Can find the link to that resource and Many others in the Des description below Thank you all so much for watching and We'll see you all in next week's [Music] Episode