"We cannot change anything until we accept it. Condemnation does not liberate, it oppresses."
–Carl Jung
Happy Saturday Folks! Last week the market was pretty flat but with all the ETF news this week, we saw some crazy volatility. As I type Bitcoin is trading at $25,815.49 and for the week (M-F) Bitcoin was down $252.30; week over week it's down $168.54. The best performing asset in the past 7 days was again $DOGE - up 1.01% in position #8 on Coinmarketcap.com. Last week the Fear and Greed Index was at 39 and today it's 39; it's stuck in Fear.
Thanks for reading, watching, and listening with me each and every week!
THE WEEDS
the price of Bitcoin closed at $26,082.40 and the most covered news of the day was OnlyFans diversifying their investment portfolio with Ethereum (ETH.)
Podcast of the Day: Bitcoin Is Not Ready To Be Legal Tender, Use It For Savings (Robert Breedlove) |
the price of Bitcoin closed at $27,400.60 and the most covered news of the day was about Grayscale prevailing in its court case against the SEC to launch a Bitcoin spot ETF and the court ordering the SEC to "vacate" its rejection of the trust issuer's bid to convert the Grayscale Bitcoin Trust into an exchange-traded fund.
Podcast of the Day: Bitcoin Is Underperforming, But The Upside Is Huge! Here Is Why | Macro Monday |
Wednesday (Humpday) the price of Bitcoin closed at $27,203.90 and the most covered news of the day continued to focus on the Grayscale win and the impact it had on the market price.
Podcast of the Day: Are Bitcoin’s 4 year cycles over? with Vijay Boyapati (SLP508) |
Right over the hump on the price of Bitcoin closed at $26,090.20 and the most covered news of the day was the opinion from Bloomberg analysts James Seyffart and Eric Balchunas saying it’s highly likely a Bitcoin (BTC) exchange-traded fund (ETF) will launch by the end of the year, and a near-guarantee by the end of 2024; Jamie Coutts agreed.
Podcast of the Day: ETF Watch 157 - BRICS Brings Up Bitcoin |
As the week came to a close on the price of Bitcoin closed at $25,830.10 and the most covered news of the day was the SEC delaying the Grayscale Spot Bitcoin ETF; the news demolished the price.
Podcast of the Day: A Bitcoin ETF Is Coming, It's Just A Matter Of When | Charles Edwards |
WEEKEND NEWS
On-chain data shows that Bitcoin's price risk falling to $23,000 because it lacks strong support below the $25,400 mark and large BTC holders added more than $1.5 billion worth of the asset within the last two weeks. Spot and levered Bitcoin positions have outperformed Berkshire Hathaway’s stock performance since early 2019. Is it time for Warren Buffett to buy Bitcoin?
The former chairman of the U.S. Securities and Exchange Commission (SEC) says that the approval of a spot market Bitcoin (BTC) exchange-traded fund (ETF) is bound to happen.
One of the leading cryptocurrency mining companies – Stronghold Digital Mining – is reportedly planning to use tire-derived fuel (made of shredded vehicle tires) in its operations in the state of Pennsylvania. Kentucky regulator denies plan for subsidizing crypto mining facility.
Stablecoin Surge: Over $11 Trillion in Payments Rival Visa’s Dominance.
Strong start for $XRP in September and Ripple counters SEC Appeal. ADA showing some resilience on market following break of destructive trend.
Sources:
Bitcoin
- Prices (Cointelegraph
- ETF ( | Finbold)
- Mining (CryptoPotatoCointelegraph
- ADA (
Stablecoins
- Tether (ZyCrypto
Legal Cases
- XRP (CryptoglobeCointelegraph
