WEBVTT 00:00:05.999 --> 00:00:08.679 Welcome to the Bitcoin Street Journal, your go 00:00:08.679 --> 00:00:11.359 -to podcast for daily live updates on the world 00:00:11.359 --> 00:00:13.960 of Bitcoin markets. With current live Bitcoin 00:00:13.960 --> 00:00:16.219 technical analysis, up -to -date information 00:00:16.219 --> 00:00:19.839 on Bitcoin, BTC, price, market capitalization, 00:00:20.039 --> 00:00:22.440 and market supply, you'll always be in the know 00:00:22.440 --> 00:00:24.559 on the latest happenings in the ever -evolving 00:00:24.559 --> 00:00:27.699 world of cryptocurrency. Be sure to hit the subscribe 00:00:27.699 --> 00:00:30.160 button to stay informed and never miss an episode. 00:00:30.539 --> 00:00:32.899 In today's episode, we'll cover various topics 00:00:32.899 --> 00:00:35.140 related to the world of finance and cryptocurrency, 00:00:35.960 --> 00:00:37.740 including how climate change affects inflation 00:00:37.740 --> 00:00:41.460 LOLs, news on Bitcoin outperforming tech equities, 00:00:41.840 --> 00:00:45.240 German central bank risking bailout, HSBC Hong 00:00:45.240 --> 00:00:48.179 Kong allowing ETFs for trading BTC and Ether, 00:00:48.880 --> 00:00:52.000 job cuts at Robinhood, SEC's impact on Solana, 00:00:52.359 --> 00:00:55.259 Polygon and Cardano. Apple removing Bitcoin tipping 00:00:55.259 --> 00:00:58.539 service, Circle CEO being optimistic about Bitcoin 00:00:58.539 --> 00:01:01.420 ETF approval, Gemini co -founders warning about 00:01:01.420 --> 00:01:04.719 the limited window to buy BTC before ETF floodgates 00:01:04.719 --> 00:01:10.659 close, and much more. Did you know that climate 00:01:10.659 --> 00:01:14.000 change has an impact on inflation? Christine 00:01:14.000 --> 00:01:16.079 Lagarde, the president of the European Central 00:01:16.079 --> 00:01:18.900 Bank, recently shared her unique understanding 00:01:18.900 --> 00:01:21.680 of economics that explains how climate change 00:01:21.680 --> 00:01:26.819 affects inflation. In other news, Bitcoin's correlation 00:01:26.819 --> 00:01:29.480 with the tech -heavy Nasdaq 100 decreased to 00:01:29.480 --> 00:01:32.599 just 3 % in June, the lowest level seen in almost 00:01:32.599 --> 00:01:35.780 three years. Despite that, Bitcoin outperformed 00:01:35.780 --> 00:01:38.519 tech equities and jumped nearly 14 % this month, 00:01:39.079 --> 00:01:43.000 while the Nasdaq 100 was up only 3%. Interestingly, 00:01:43.599 --> 00:01:45.920 Bitcoin's correlation with traditional risk assets 00:01:45.920 --> 00:01:48.840 has steadily decreased this year from an average 00:01:48.840 --> 00:01:52.379 of 60 % in 2022. On another note, the German 00:01:52.379 --> 00:01:55.540 central bank, Bundesbank, may require a bailout 00:01:55.540 --> 00:01:58.159 to cover the losses it incurred after participating 00:01:58.159 --> 00:02:00.739 in the European Central Bank's bond buying program. 00:02:01.680 --> 00:02:03.819 The federal auditor has warned of the potential 00:02:03.819 --> 00:02:06.099 setback that could lead to the program's downfall. 00:02:06.719 --> 00:02:09.840 In Hong Kong, HSBC now allows customers to trade 00:02:09.840 --> 00:02:12.979 Bitcoin and Ether ETFs listed on the city's stock 00:02:12.979 --> 00:02:15.849 exchange. This development comes after the Bitcoin 00:02:15.849 --> 00:02:18.389 ETF dollar Biddo received its largest weekly 00:02:18.389 --> 00:02:21.689 inflow in a year and now has $1 billion in assets. 00:02:22.370 --> 00:02:24.289 This bullish sentiment is undoubtedly growing. 00:02:24.849 --> 00:02:27.330 Unfortunately, Robinhood had to cut staff again 00:02:27.330 --> 00:02:29.610 as its trading volume and engagement dwindled. 00:02:30.210 --> 00:02:33.490 Meanwhile, Bitcoin Cash exploded 100 % weekly 00:02:33.490 --> 00:02:35.870 while BTC looks for direction in the market. 00:02:36.710 --> 00:02:39.580 In addition to market news, Bybit received a 00:02:39.580 --> 00:02:42.099 preparatory license from Dubai's virtual assets 00:02:42.099 --> 00:02:46.319 regulatory authority. However, FTX is currently 00:02:46.319 --> 00:02:48.719 under fire after the CEO of the cryptocurrency 00:02:48.719 --> 00:02:51.039 exchange claimed that the firm had been misusing 00:02:51.039 --> 00:02:54.460 customer funds since its inception. Looking at 00:02:54.460 --> 00:02:57.120 the cryptocurrency industry as a whole, popular 00:02:57.120 --> 00:03:00.240 analyst at Ted Talks Macro pointed out an intriguing 00:03:00.240 --> 00:03:02.800 correlation between China's quantitative easing 00:03:02.800 --> 00:03:05.580 and the rise in total market capitalization of 00:03:05.580 --> 00:03:08.280 cryptocurrencies. Additionally, the liquidity 00:03:08.280 --> 00:03:10.659 injection by the People's Bank of China in early 00:03:10.659 --> 00:03:13.240 2020 seems to correlate with the macro bottom 00:03:13.240 --> 00:03:16.060 of Bitcoin's price. It appears that the current 00:03:16.060 --> 00:03:18.439 injection of cheap cash will follow right after 00:03:18.439 --> 00:03:21.159 the bottom of the preceding bear market. That's 00:03:21.159 --> 00:03:24.719 a wrap on today's cryptocurrency update. We've 00:03:24.719 --> 00:03:26.759 got a lot to cover in today's podcast episode 00:03:26.759 --> 00:03:29.300 with plenty of news and updates to catch up on. 00:03:29.639 --> 00:03:31.860 First up, it looks like Bitcoin tipping service, 00:03:32.060 --> 00:03:34.139 Damus, has been booted from the Apple App Store. 00:03:34.680 --> 00:03:36.400 Despite their attempts at clarification, the 00:03:36.400 --> 00:03:39.099 app was finally removed, leaving many surprised 00:03:39.099 --> 00:03:41.300 and disappointed. In other news, you may have 00:03:41.300 --> 00:03:44.120 heard about Nautilus, the non -KYC Bitcoin lightning 00:03:44.120 --> 00:03:46.520 processor that Jack Dorsey recently tweeted about. 00:03:47.039 --> 00:03:49.500 Essentially, it makes it possible to accept lightning 00:03:49.500 --> 00:03:52.439 payments without the need for know your customer 00:03:52.439 --> 00:03:55.639 requirements. Meanwhile, as the EU's landmark 00:03:55.639 --> 00:03:58.039 crypto rules come into force. Some are already 00:03:58.039 --> 00:04:02.360 talking about the need for MyCA 2 .0. This has 00:04:02.360 --> 00:04:04.680 led to policy experts weighing in on the subject, 00:04:05.080 --> 00:04:06.919 discussing whether or not further legislation 00:04:06.919 --> 00:04:10.039 is necessary. On the regulatory front, Circle 00:04:10.039 --> 00:04:13.560 CEO Jeremy Allaire has expressed some optimism 00:04:13.560 --> 00:04:15.719 when it comes to the approval of Bitcoin spot 00:04:15.719 --> 00:04:18.959 ETFs. He believes that progress is being made 00:04:18.959 --> 00:04:21.300 in addressing some of the regulatory concerns 00:04:21.300 --> 00:04:23.720 that have previously hindered the approval of 00:04:23.720 --> 00:04:26.699 such initiatives in the US. Let's also talk about 00:04:26.699 --> 00:04:30.060 ChatGPT, a relatively new platform that has quickly 00:04:30.060 --> 00:04:32.920 risen to prominence in the AI space. Despite 00:04:32.920 --> 00:04:35.899 only being around for a few months, ChatGPT has 00:04:35.899 --> 00:04:38.779 already dominated discussions and garnered international 00:04:38.779 --> 00:04:41.839 attention. In other developments, Binance's motion 00:04:41.839 --> 00:04:44.699 on SEC's misleading public language has been 00:04:44.699 --> 00:04:47.240 denied. This could have some major implications 00:04:47.240 --> 00:04:49.560 for the future of the company and its relationship 00:04:49.560 --> 00:04:53.319 with regulators. Speaking of regulators, Nassim 00:04:53.319 --> 00:04:56.420 Taleb has recently called Bitcoin a cult, coupled 00:04:56.420 --> 00:04:58.399 with a financial instrument that has a limited 00:04:58.399 --> 00:05:01.050 use case. This is an interesting perspective 00:05:01.050 --> 00:05:04.009 that may spark some controversy. Finally, we 00:05:04.009 --> 00:05:06.069 have some news about Bitcoin's current market 00:05:06.069 --> 00:05:09.230 position. Analyst Plan B believes that there 00:05:09.230 --> 00:05:11.949 is an indicator suggesting that Bitcoin is ready 00:05:11.949 --> 00:05:14.829 for an accelerated bull market. Specifically, 00:05:15.350 --> 00:05:18.329 he points to Bitcoin's realized cost price, which 00:05:18.329 --> 00:05:21.550 is the average value of BTC supply calculated 00:05:21.550 --> 00:05:23.790 at the price at which coins were last moved. 00:05:24.509 --> 00:05:27.110 And as BlackRock's ETF bid triggers a flood of 00:05:27.110 --> 00:05:29.870 filings, Gemini's billionaire co -founder has 00:05:29.870 --> 00:05:31.810 warned that the window to buy Bitcoin before 00:05:31.810 --> 00:05:35.529 the ETF floodgates open is closing fast. So there 00:05:35.529 --> 00:05:37.790 you have it. Plenty of important news and updates 00:05:37.790 --> 00:05:47.449 to keep an eye on. On today's episode, we covered 00:05:47.449 --> 00:05:49.870 how climate change affects inflation, the latest 00:05:49.870 --> 00:05:52.370 news on Bitcoin, including the biggest weekly 00:05:52.370 --> 00:05:55.509 inflow in a year for Bitcoin ETF, job cuts at 00:05:55.509 --> 00:05:58.769 Robinhood, and the surge of Bitcoin Cash, updates 00:05:58.769 --> 00:06:01.389 on Solana, Polygon, and Cardano because of the 00:06:01.389 --> 00:06:04.949 SEC, and how China's QE impacts the total market 00:06:04.949 --> 00:06:07.490 cap, as well as Apple's removal of a Bitcoin 00:06:07.490 --> 00:06:10.389 tipping service, renewed EU crypto legislation, 00:06:10.970 --> 00:06:14.029 and Circle CEO's optimism for a Bitcoin ETF approval, 00:06:14.470 --> 00:06:16.730 among other things. Thanks for listening and 00:06:16.730 --> 00:06:17.810 don't forget to subscribe.