Welcome to the Bitcoin Street Journal, your go
-to podcast for daily live updates on the world
of Bitcoin markets. With current live Bitcoin
technical analysis, up -to -date information
on Bitcoin, BTC, price, market capitalization,
and market supply, you'll always be in the know
on the latest happenings in the ever -evolving
world of cryptocurrency. Be sure to hit the subscribe
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In today's episode, we'll cover various topics
related to the world of finance and cryptocurrency,
including how climate change affects inflation
LOLs, news on Bitcoin outperforming tech equities,
German central bank risking bailout, HSBC Hong
Kong allowing ETFs for trading BTC and Ether,
job cuts at Robinhood, SEC's impact on Solana,
Polygon and Cardano. Apple removing Bitcoin tipping
service, Circle CEO being optimistic about Bitcoin
ETF approval, Gemini co -founders warning about
the limited window to buy BTC before ETF floodgates
close, and much more. Did you know that climate
change has an impact on inflation? Christine
Lagarde, the president of the European Central
Bank, recently shared her unique understanding
of economics that explains how climate change
affects inflation. In other news, Bitcoin's correlation
with the tech -heavy Nasdaq 100 decreased to
just 3 % in June, the lowest level seen in almost
three years. Despite that, Bitcoin outperformed
tech equities and jumped nearly 14 % this month,
while the Nasdaq 100 was up only 3%. Interestingly,
Bitcoin's correlation with traditional risk assets
has steadily decreased this year from an average
of 60 % in 2022. On another note, the German
central bank, Bundesbank, may require a bailout
to cover the losses it incurred after participating
in the European Central Bank's bond buying program.
The federal auditor has warned of the potential
setback that could lead to the program's downfall.
In Hong Kong, HSBC now allows customers to trade
Bitcoin and Ether ETFs listed on the city's stock
exchange. This development comes after the Bitcoin
ETF dollar Biddo received its largest weekly
inflow in a year and now has $1 billion in assets.
This bullish sentiment is undoubtedly growing.
Unfortunately, Robinhood had to cut staff again
as its trading volume and engagement dwindled.
Meanwhile, Bitcoin Cash exploded 100 % weekly
while BTC looks for direction in the market.
In addition to market news, Bybit received a
preparatory license from Dubai's virtual assets
regulatory authority. However, FTX is currently
under fire after the CEO of the cryptocurrency
exchange claimed that the firm had been misusing
customer funds since its inception. Looking at
the cryptocurrency industry as a whole, popular
analyst at Ted Talks Macro pointed out an intriguing
correlation between China's quantitative easing
and the rise in total market capitalization of
cryptocurrencies. Additionally, the liquidity
injection by the People's Bank of China in early
2020 seems to correlate with the macro bottom
of Bitcoin's price. It appears that the current
injection of cheap cash will follow right after
the bottom of the preceding bear market. That's
a wrap on today's cryptocurrency update. We've
got a lot to cover in today's podcast episode
with plenty of news and updates to catch up on.
First up, it looks like Bitcoin tipping service,
Damus, has been booted from the Apple App Store.
Despite their attempts at clarification, the
app was finally removed, leaving many surprised
and disappointed. In other news, you may have
heard about Nautilus, the non -KYC Bitcoin lightning
processor that Jack Dorsey recently tweeted about.
Essentially, it makes it possible to accept lightning
payments without the need for know your customer
requirements. Meanwhile, as the EU's landmark
crypto rules come into force. Some are already
talking about the need for MyCA 2 .0. This has
led to policy experts weighing in on the subject,
discussing whether or not further legislation
is necessary. On the regulatory front, Circle
CEO Jeremy Allaire has expressed some optimism
when it comes to the approval of Bitcoin spot
ETFs. He believes that progress is being made
in addressing some of the regulatory concerns
that have previously hindered the approval of
such initiatives in the US. Let's also talk about
ChatGPT, a relatively new platform that has quickly
risen to prominence in the AI space. Despite
only being around for a few months, ChatGPT has
already dominated discussions and garnered international
attention. In other developments, Binance's motion
on SEC's misleading public language has been
denied. This could have some major implications
for the future of the company and its relationship
with regulators. Speaking of regulators, Nassim
Taleb has recently called Bitcoin a cult, coupled
with a financial instrument that has a limited
use case. This is an interesting perspective
that may spark some controversy. Finally, we
have some news about Bitcoin's current market
position. Analyst Plan B believes that there
is an indicator suggesting that Bitcoin is ready
for an accelerated bull market. Specifically,
he points to Bitcoin's realized cost price, which
is the average value of BTC supply calculated
at the price at which coins were last moved.
And as BlackRock's ETF bid triggers a flood of
filings, Gemini's billionaire co -founder has
warned that the window to buy Bitcoin before
the ETF floodgates open is closing fast. So there
you have it. Plenty of important news and updates
to keep an eye on. On today's episode, we covered
how climate change affects inflation, the latest
news on Bitcoin, including the biggest weekly
inflow in a year for Bitcoin ETF, job cuts at
Robinhood, and the surge of Bitcoin Cash, updates
on Solana, Polygon, and Cardano because of the
SEC, and how China's QE impacts the total market
cap, as well as Apple's removal of a Bitcoin
tipping service, renewed EU crypto legislation,
and Circle CEO's optimism for a Bitcoin ETF approval,
among other things. Thanks for listening and
don't forget to subscribe.