Crypto News: Bitcoin PUMP, ETH, Bull Market, ETFs & MORE!!
Welcome to the Coin Bureau Weekly News Roundup
Welcome to the Coin Bureau Weekly News Roundup! In this edition, we will be covering the top stories in the crypto market. From the recent breakout of Bitcoin to the potential rally of Ethereum, and from the investigation of crypto companies to the exit of a big banker, we have all the latest updates for you. Plus, we will take a closer look at the top-performing cryptocurrencies of the week and where they could be headed next. So, let’s dive in!
The God Candle: Is the Bear Market Over?
Last week, Bitcoin experienced a phenomenon known as the “God Candle.” This is when the price of BTC pumps so much that it wipes out the remaining bearish sentiment and signals the start of a new bull market. BTC pumped by more than 10% in just 24 hours, causing some high-profile crypto bears to flip their stance. However, it’s important to understand the reason behind this pump. It appears that the speculation around BlackRock’s spot Bitcoin ETF listing on the NASDAQ led to the price surge. While this pump is exciting, it’s crucial to remember that there are still risks in the market, and corrections are expected along the way.
Ethereum: Will it Follow Bitcoin’s Rally?
While Bitcoin’s price action has been impressive, the same cannot be said for Ethereum and most altcoins. Historically, BTC gains eventually find their way into Ethereum and other altcoins, signaling a true crypto bull market. Investors are closely watching Ethereum’s price to see if it will catch up to Bitcoin in what traders call the “catchup trade.” However, so far, Ethereum has not shown significant movement. It has been rejected by the weekly and monthly moving averages on the Bollinger Bands, indicating potential losses in the medium term. To reverse this bearish trend, Ethereum needs a catalyst, such as the listing of an Ethereum spot ETF on the DTCC’s website.
Stab in the Back: Investigation of Crypto Companies
In a surprising move, two pro-crypto politicians, Senators Cynthia Lummis and French Hill, sent a letter to the US Department of Justice (DOJ) asking them to investigate Binance and Tether for potential involvement in illicit financial activity. This letter was based on mainstream media FUD and acknowledged that crypto is not widely used in illicit financial activities. The timing of this letter is questionable, as Binance has already been under investigation by the DOJ since May. This raises concerns about the genuineness of pro-crypto politicians and the influence of anti-crypto lobbyists.
Big Banker Exits: Jamie Dimon Sells Shares
JP Morgan CEO Jamie Dimon made headlines by selling 1 million shares of the mega bank, worth $40 million. This is the first time Dimon has sold shares since becoming CEO in 2006. The timing of this stock sale is suspicious, as it coincided with an escalation in the Middle East. It raises questions about whether Dimon knows something big is coming. The banking sector is already facing challenges due to rising interest rates and falling US bond prices. If these unrealized losses become significant, it could lead to a banking crisis. Dimon’s stock sale could be seen as a sign of potential trouble ahead.
Last Week’s Top Performing Cryptos
Now let’s take a closer look at the top-performing cryptocurrencies of the week. Mina Protocol, Pepe, Injective Protocol, Conflux, and Gala Games were among the top gainers. Mina Protocol’s pump was likely due to its listing on a South Korean crypto exchange, which often leads to increased buying pressure. Pepe and Injective Protocol experienced pumps alongside other meme coins and bullish announcements. However, it’s important to note that these pumps may not be sustainable in the long term. Conflux and Gala Games also saw price increases, but they face resistance at key levels, suggesting potential pullbacks.
Frequently Asked Questions
1. What is the God Candle in crypto?
The God Candle refers to a significant price pump in Bitcoin that wipes out bearish sentiment and signals the start of a new bull market. It is often accompanied by widespread speculation and excitement in the crypto community.
2. Why is Ethereum not rallying like Bitcoin?
While Bitcoin has experienced a significant rally, Ethereum has not shown the same level of movement. This could be due to a lack of catalysts or regulatory scrutiny surrounding altcoins. However, the listing of an Ethereum spot ETF could potentially reverse this trend and lead to a catchup trade.
3. Why are Binance and Tether being investigated?
Two pro-crypto politicians have called for an investigation into Binance and Tether for potential involvement in illicit financial activity. However, it’s important to note that crypto is not widely used in such activities, and the timing of this investigation raises concerns about the influence of anti-crypto lobbyists.
4. Why did Jamie Dimon sell shares in JP Morgan?
Jamie Dimon’s stock sale could be seen as a sign of potential trouble in the banking sector. Rising interest rates and falling US bond prices have already caused losses for banks. If these losses become significant, it could lead to a banking crisis. Dimon’s stock sale may indicate his awareness of the potential risks ahead.
5. Which cryptocurrencies performed well last week?
Mina Protocol, Pepe, Injective Protocol, Conflux, and Gala Games were among the top-performing cryptocurrencies last week. These pumps were driven by various factors, including listings, partnerships, and events. However, it’s important to consider potential pullbacks and resistance levels in the short to medium term.
In conclusion, the crypto market has seen significant developments in the past week. While Bitcoin’s rally and the potential catchup trade of Ethereum have garnered attention, regulatory scrutiny and potential banking crises pose risks to the market. It’s crucial for investors to stay informed and cautious while navigating the volatile crypto landscape.
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You missed out XRP as it has been deemed not a security and the SEC is not appealing against that.
don't forget that guy sold his solana at the pico bottom
pump was market makers hedging delta
not alt rotation like cowen said
Jessica 😍😘
Speculation on Bitcoin
Ethereum 🖤❤️🔥
I hope they not sell on the good news, "buy the rumor and sell the news"
Um hello , xrp is deemed a non security
coinbase just locked my account over 2 20k deposits. won't let them do that again.
Great job, guys!
Bear market on route boys, be prepared for pain
Those j3wz are powerful lol
Solana – 43% up despite Bitcoin going down
Top altcoin is $CRU . Everyone should invest in it. Your video is very informative.
US banks can’t go bankrupt anymore
Great video but we need more Jessica
lol love how you guys left out HEX. that shit pumped 300%
Jessica's bad unah😏
Un such a world that we have atm we dont need to invest in cryptocurrency 😂 better going back to gold
Hello Guy! Thank you for your content! Could you make a video about Axelar Network and updates about FET, SNX and DCR?
#Bitcoin and #GalaGames #GALA definitely to the moon 🚀🚀🚀🚀definitely soon massive blast 💥💥💥🚀🚀🚀🚀 Don't chase the price, buy the bottom💥💥💥💥💥❤🎉❤
if Jessica held flags in those hands she could direct air traffic. Good show ppl we are a hard crowd.
please stop saying "caveaty" , is a latin world Caveat and has to be pronounced the way is wrote.
2:37 Short sellers 🤣 🤣
. … . . . . .Major bitcoin drop coming …… brace!!!
NUSD's consistent performance is the glue that holds together a well-balanced crypto portfolio. 🧩 #CryptoDiversification
Thank you
Guy can you teach us how to make a perfect ai like Jessica 🤣
Eth by the most basic metrics IS A SECURITY due to being proof of stake. Also, a Spot Eth ETF would mean complete institutional control. So much for “decentralized”.
Very Bearish and Bullish at the same time
J.P.Morgan crash ..
I fucken hope so .!!
is solana dead or bulling????
Ahhh…the Ketchup Trade…
Guy the A.I. I appreciate you
👍
Damn, she sounds like fake ai voice 😅
Ftx is still selling large amounts of assets to cover costs. Keep that in mind.
Yeah, Jessica!!
One Love!
Always forward, never ever backward!!
☀️☀️☀️
💚💛❤️
🙏🏿🙏🙏🏼
Reall happy with this Bch runs big broo. Btc eth etc to follow-up 💯٪
11:08 Indeed, those who disbelieve spend their wealth to avert [people] from the way of Allah . So they will spend it; then it will be for them a [source of] regret; then they will be overcome. And those who have disbelieved – unto Hell they will be gathered
Quran 8:36.
13:15 – chameleons, typical politicians – they're just pro-themselves
The choice of the best crypto exchange is obvious – only crp. is!
Pepecoin❤
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The best and most promising cryptocurrency can be the one that managed to survive the crisis perfectly, holding the highest possible decent level of value. This is of course about Crypton!
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