Crypto News: Market Rally, ETH ETF, Stablecoins, FTX & MORE!!

Welcome to the coin buau Weekly News Roundup my name is Jessica and my name Is guy here are the top stories in Crypto this Week crypto rally returns coins and Tokens pop after the US government Averts a shutdown leading to speculation Of more fiscal spending how long will This recovery rally last eth levels up The eth stolen from FTX starts to move While the SEC finally approves a Futures Ethereum ETF as asset managers promise To fund developers what effects will This have on eth all about stable coins Circle backs binance in its case against The SEC binance Works to launch a Japanese stable coin and you see Launches on Stellar everything you need To know Sky High Dxy the US dollar rallies for 13 weeks Straight causing investors to wonder When the rally will end and how it will Impact the markets why the greenb may Continue to rally 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 Rallied and by last week I mean over the Weekend Prior to the weekend the crypto Market Had actually been crashing with BTC Being on the brink of breaking below 26k now it appears that the delay of the

US government shutdown is what brought BTC back from the brink so to speak this Makes sense considering that a Government shutdown would basically mean That the government stops spending and If the government stops spending that's Less money being injected into markets And the economy for context it's Believed that this fiscal spending is Basically keeping everything together in Any case we will get to ride this roler Coaster again come the 17th of November When the current extension expires What's interesting is that this Extension excluded additional funding For the war in Ukraine this is Interesting because it suggests that the Next negotiation will result in more Cuts to fiscal spending if this is the Case then a resolution to the next Government shutdown may not be as Bullish as the one over the weekend nor Any subsequent resolution each Additional negotiation would involve Politicians gradually agreeing to less Spending which could start to weigh on The markets and the economy now the Silver Lining to this outcome is that it Would likely cause inflation to come Down and could cause the labor market to Weaken to the point that the FED pivots I.E starts lowering interest rates again Obviously this would be extremely Bullish for the markets particularly the

Crypto Market but this is only something That would happen later this year or Early next year in the shortterm it Looks like the markets will continue to Be choppy including crypto in btc's case It seems to be battling with the Ballinger band moving average on the Weekly a key level over the last couple Of years As you can see if BTC gets back above This moving average then it's likely That it will hit new local highs and Potentially prepare for a new all-time High if BTC gets rejected at this moving Average however then it could confirm Lower lows the same way it did back in The spring of 2022 notice the parallels On that note btc's price action on the Monthly looks eerily similar to what we Saw in 2020 22 albeit a lot more Compressed if we see a similar pattern Play out then it could be a nasty October and November for the crypto Market that said October has Historically been a good month for Crypto the caveat this time around is That we have no shortage of tail risks That could bite the market and the pond They're playing in is Sam bankman Freed's trial which begins later this Week and will last until the end of the Month It's quite possible that we will see Bombshells coming out of the courtroom

This seems to be more than speculation Too because the unknown entity who Exploited the FTX exchange after it Collapsed moved millions of dollars of Eth over the weekend now this could just Be a coincidence but it's possible that This exploiter is preparing for what Could be revealed in the case for those Unfamiliar FTX was exploited shortly After the exchange file for bankruptcy This has led to speculation that the Exploiter is someone who worked at FTX Which certainly seems to be the case if It is then it makes the sudden movement Of eth before s spf's trial that much More significant fortunately or Unfortunately this news has been Overshadowed by the announcement that Crypto asset manager Valkyrie has Received SEC approval to list its Ethereum Futures ETF it's believed that The SEC will now approve all other Ethereum Futures ETF applications like It did with the Bitcoin Futures ETFs the Approval of vy's ethereum Futures ETF is Somewhat strange considering that the Company only holds around a billion Dollars of assets under management and That's according to 2022 statistics not Only that but valkyrie's largest client Reportedly was and still could be Tron Founder Justin Sun this makes the Approval of valkyrie's ethereum Futures ETF even stranger especially when there

Are other established asset managers Still waiting in line with their own Applications one of these is Vanek which Holds roughly $80 billion in assets Under management and has many crypto ETFs speaking of which Vanek recently Announced that it plans to use 10% of The profits from its ethereum Futures ETF to fund ethereum development once It's approved of course this is bullish But also somewhat concerning given that It could give Vanek huge influence over Ethereum's development and if that Wasn't concerning enough Vanek called on Other asset managers to do the same so If they decide to follow suit we could Soon see black rock using a portion of Its spot Bitcoin ETF profits to Influence bitcoin's development remember What their filing said about adjusting The ETF to bitcoin Forks you can learn More about how institutional investors Are trying to take control of Bitcoin Using the link in the description but I Digress back to ethereum so this begs The question of whether the approval of A Futures ethereum ETF is bullish or Bearish for eth if the approval of the Bitcoin Futures ETF is anything to go by It's bearish that's because it Effectively marked the top for BTC During the previous bull market in 2021 Of course history doesn't repeat but it Does rhyme and I see a limmer on eth's

Price chart similarly to BTC eth appears To be rallying towards the Ballinger Band moving average on the weekly it's Possible if not likely that it will hit This Target in the next week which would Be a nice pump indeed however it's Possible that it will get rejected at This level and this makes sense when you Consider the order of events ethereum Futures ETF will list in the next couple Of days with SPF standing trial towards The end of the week recall that there Will be no shortage of catalysts there So if you're planning on trading these Catalysts or hodling through them be Sure to check out the coin Bureau deals Page it's got up to $40,000 of airdrops On the best crypto exchanges and the Biggest discounts on the most secure Hardware wallets the link will be down In the description so be sure to check It Out now this calls to mind another Overlooked fact and that's that stable Coins continue to face regulatory Scrutiny in the United States if you Watched our video about s spf's secret Bank you'll know that alamida research Was the largest recipient of all the Usdt Ever issued this likely means that Sam has info on stable coin issuers this Puts into perspective the news of circle Essentially stepping in to support Binance in its case against the

As you might have guessed circle is Arguing that binance's b USD stable coin Is not a security because it does not Have the features of an investment Contract this is significant because Circle is closely affiliated with Coinbase which is binance's top Competitor not only that but circle's Usdc stablecoin is or rather was a top Competitor to binance's B USD and Continues to be a top competitor to Offshore stable coins like tether's usdt As such circles stepping in to support Binance against the SEC is not something I had on my crypto bingo card but it Does make sense circle is concerned that The binance case will set a precedent For the SEC to go after stable coins Like usdc which is something we've been Warning about for months the fact that Circle is throwing its weight behind Binance could be a sign that the Regulatory scrutiny is worse than we Think and this too would make sense if You watched our video about the fed's Warning to Banks you'll know that any Banks working with stable coins are Under scrutiny as of well now to refresh Your memory all US Banks must inform the FED about their stablecoin activities by Early October in other words this week Soon the FED will start issuing So-called non-objection letters to banks That are allowed to work with stable

Coins as for all the others well nobody Knows but it's probably not good but This is just what's going on in the United States elsewhere around the world Governments are not so subtly supporting Stable coin development probably because Most stable coins are backed by Government debt this makes stable coins A great way to subsidize government Spending this would explain why Japan is Completely comfortable with crypto Companies like binance exploring yen Stable coins despite all the regulatory Scrutiny news flash but Japan has the Largest debt to GDP of any country so if You're willing to create a Yen stable Coin and advertise it you're probably Japan's best friend the same is true for Europe where Circle has been gaining Ground if you've been keeping up with Our coverage of European crypto Regulations you'll know that they seem To have been heavily influenced by the Stable coin issue You'll also know that USD stable coins Could soon be banned in the EU the Consequence of this is that Euro stable Coins will likely see significant growth And circle is perfectly positioned to Capitalize on this the stable coin issu Has been launching its recently Rebranded YC stable coin on multiple Crypto blockchains and the latest one is The one and only Stella given that

Stella has a partnership with MoneyGram For circles usdc stable coin it's Possible that we'll see the same kind of Partnership for its USC stablecoin it's Safe to say that the ECB would love to See it a Euro stable coin will allow it To subsidize the debts of its poorer Member governments this ties into our Macro topic of the week and that's the US dollar as measured by the dxy FYI the Dxy Compares the value of the US dollar To a basket of currencies of the US's Main Trading Partners mostly the Euro And the Yen this means that a strong dxy Doesn't necessarily mean a strong USD sometimes it means a weak Euro and Yen this makes the 13we rally we've seen In the dxy a little easier to understand At first glance it appears unprecedented But upon closer inspection it could very Well be a consequence of Europe and Japan selling their National currencies To purchase energy which is bought and And sold using US Dollars according to Macro analyst Luke groman this is Exactly what's happening in case you Missed the memo oil prices have been Rising this means that countries which Import most of their energy such as Those in Europe and Japan have had to Sell more of their National currencies To buy more USD to buy oil if Luke is Correct then it's possible that the dxy Will continue to Rally so long as oil

Prices continue to Rally this seems Likely considering that OPEC the Coalition of the largest oil producing Countries besides the US has committed To cutting oil supplies until the end of The year meanwhile Russia has reportedly Banned diesel fuel exports in case you Missed that memo there's already a Global diesel shortage and Diesel is Required for everything from shipping to Manufacturing what's worrying is that Russia hasn't set a date for when it Will resume exporting Diesel from Luke's Perspective oil and Diesel shortages Will be rocket fuel for the dxy and this Will likely be the case even if his Thesis is incorrect that's simply Because higher oil prices will Eventually cause inflation to rise again And this will force central banks to Raise interest rates again in response The possibility of a second wave of Inflation is believed to be the reason Why the us Bond Market has been falling Apart and why long-term interest rates Have been rising in Short Bond holders Are demanding to be compensated for Higher inflation in the future with a Higher interest rate this could become a Problem for everyone who holds large Amounts of US denominated debt including The US government itself some macro Analysts believe that long-term interest Rates will spiral out of control as

Foreign governments sell bonds for us USD to defend their currencies while Buying energy whatever the case history Suggests that the outcome will be the Same the FED will eventually have to Step in and start buying us bonds to Bring long-term interest rates back down This is exactly what the FED did at the Start of the pandemic and it was the Catalyst for the ensuing crypto bull Market as always the only question is When when will the FED be forced to Start printing money again well nobody Knows for sure but one thing is for Certain a lot of money was printed During the pandemic and most of it is Still sloshing around this could have Made the economy more resilient to Higher rates this has been the case so Far when it comes to short-term interest Rates so it wouldn't be surprising if it Was also the case when it comes to Long-term interest rates too what could Be surprising is how high long-term Interest rates could go and how long They could stay around before something Breaks so with all that said let's now Turn to last week's top performing Cryptos Jessica take it Away thanks Guy well last week's top Performing cryptos were GMX make AOW Compound finance salana and pepe Starting with GMX it appears to have Pumped on the news that the bit Gat

Wallet has integrated the decentralized Derivatives exchange note that bit is One of the best derivatives exchanges Out there and you can get a huge Discount on trading fees on the coin Bureau deals page anyways GMX appears to Be struggling to stay above the $40 Level which makes sense given that it's A historical zone of both support and Resistance GMX is still below the Ballinger band moving average on the Weekly so it could rally a bit higher Before being rejected which is not Guaranteed Next up we have makeer da whose maker Token appears to have pumped because of An executive vote to make major changes To the assets backing die the details Are outside the scope of this video but We'll leave a link to the full Governance proposal in the description If you're interested now maker has seen A massive rally over the past few months This is due to its buyback mechanism Which makes analyzing its price action Difficult to do so for what is worth Make a face a lot of resistance around These levels it therefore seems unlikely That it could go much higher from here When it comes to compound Finance its Comp token appears to have pumped for Unknown reasons our best guess is that It has to do with the recently approved Ethereum Futures ETF it's likely that

Lots of eth holders are taking Additional leverage in defi due to the Recent eth rally and bullishness comp's Price action looks just as confusing as The the reason it's rallying as you can See its price action has been very Volatile lately though it has been Trading sideways overall hitting the Balling ja ban moving average on the Weekly could mean that a rejection is Coming or that comp is about to break Through it could be a similar story with Salana it Soul coin could have pumped Because of the news that one of its Competitors has secured a Futures ETF Approval it also could have pumped Because of all the events leading up to Sana's annual break Point conference Which will take place later this month The difference is that Saul has broken Above the Bon ja ban moving average on The weekly which means that it could see Another week of gains come to think of It this could be a contrarian indicator Regarding what guy said earlier about Bad news coming out of spf's trial we'll See soon enough finally we have Pepe the Mcoin as you might have guessed there Has been literally no reason why Pepe Token pumped the Pepe Twitter account Has been dormant since early September And there has been no notable news or Updates if you know something we don't Drop a comment down below now in terms

Of price action Pepe is looking Overboard on The Daily and also seems to Be having a hard time getting above a Key level oddly enough Pepe looks like It could be reversing from its lows but It's much too soon to tell and it's more Likely that this is price action is pure Manipulation if you want to know why Cryptos are pumping in real time and Where you can trade them make sure to Join the coin Bureau 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 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 you Can find the link to that resource and Many others in the description below so Thank you all so much for watching and We'll see you all in next week's Episode