Welcome to the Bitcoin Street Journal. Bitcoin
Market Update Podcast, your daily source for
live updates on the Bitcoin market. Join us as
we delve into current Bitcoin technical analysis,
track Bitcoin BTC prices, explore market capitalization
trends, and analyze market supply. Stay ahead
of the curve with our comprehensive coverage
of the ever -evolving world of Bitcoin. In today's
episode, we'll cover a person's steady investment
in Bitcoin, FundStrat's prediction on Bitcoin's
potential price, Australian scam funds going
to crypto exchanges, funding secured by the OrangePill
app, Custodia Bank's Bitcoin custody services,
the launch of Europe's first spot Bitcoin ETF
by Jacoby Asset Management, the shutdown of Celsius
App and SEC's delay on ETF approvals, Oman's
mining farm project, Blockstream's basic note
for Bitcoin mining, Bitcoin price volatility
at historical lows, the decline in the US dollar's
purchasing power, the open sourcing of liquid
networks' functionary source code, the increase
in Bitcoin supply by long -term holders and miners
entering the accumulation phase. We will also
discuss topics such as Prime Trust's bankruptcy
protection filing, developments in Sib and XRP,
Binance's accusation against SEC, stable coin
regulation in Singapore, leadership changes in
PayPal, and the approval of Celsius's bankruptcy
plan. Additionally, we'll touch on Cardano's
struggle with its downtrend, the latest in the
Ripple SEC case, Pepe's crash, and Binance US's
request for a protective order. Furthermore,
we'll explore the launch of a helium -powered
mobile carrier's affordable unlimited plan and
crypto token rewards, funding raised by Zepito
and Jump Crypto, a documentary on the Hex founder,
differing opinions on a Bitcoin ETF from Scaramucci
and Grayscale, legal news involving Trump, AI
rules addressed by an actor's union, criticism
of Promethean broker approval from Republicans,
a unique NFT collaboration, Stellar's investment
in MoneyGram, the contents of Trump's crypto
wallet, a collaboration between Google and ICAD,
the departure of Silvergate's CEO, the release
of limited sneakers via NFT by Adidas and Bape,
and personal notes used as evidence against SBF.
Lastly, we'll ask for your support for the Bitcoin
Street Journal on various platforms. Hey there,
fellow Bitcoin enthusiasts. Today, we've got
some interesting news and updates on the world
of Bitcoin. So let's dive right in. First up,
we've got an inspiring story from a fellow Bitcoin
investor. Let's call him our pleb. This guy has
been consistently stacking euro 500 per month
since 2017. And guess what? He now proudly boasts
a total of 4 .39 BTC in his portfolio. Not too
shabby, right? In total, he has invested 38 ,000
euros, averaging out to 8 ,700 euros per coin.
Talk about dedication. Now you might be thinking,
Why is this guy so dedicated to Bitcoin? Well,
it's all about the slow and steady wins the race
mentality. This pleb understands that consistent
investments over time can really pay off in the
long run. And hey, looking at his progress so
far, it's hard to argue against it. In case you
missed it, there's some exciting news from Fundstrat.
Just five days ago, they predicted that if a
Bitcoin ETF gets approved, we might see the price
skyrocket to a jaw dropping $180 ,000 per coin.
Can you imagine? This could be a game changer
for the entire Bitcoin market. You can find more
details about this news on bitcoin .com .movingon.
Let's talk about the liquid network. Samson Moe,
a prominent figure in the crypto world, recently
explained how this network is driving Bitcoin's
adoption. Basically, it acts as a financial layer
anchored to Bitcoin. This innovative approach
opens up new possibilities and opportunities
for the widespread use of Bitcoin. It's all about
creating a stronger foundation for the future.
Next, we're heading to Argentina, where Bitcoin
has made a new all -time high. Can you believe
it? The value of Bitcoin has officially surpassed
10 million Argentinian pesos. This is a clear
example of the devastating effects of hyperinflation.
It's no wonder that people are turning to Bitcoin
as a safe haven for their wealth. In Australia,
A report from the Australian Financial Crimes
Exchange revealed that a staggering 47 % of scam
funds in the country are being sent to crypto
exchange accounts, including those associated
with leading Australian banks. It's a concerning
statistic, but it's also a reminder of how crucial
it is to remain vigilant in the world of crypto.
Now let's switch gears to a more positive note.
The Orange Pill app has recently secured an impressive
$250 ,000 in pre -seed funding This unique platform
is already connecting users from 71 different
countries. And guess what? This is just the beginning.
The Orange Pill app has so much potential and
we can't wait to see what's in store for its
users. In the United States, Custodia Bank has
started accepting U .S. dollar deposits and is
planning to offer Bitcoin custody services in
select states. This is significant news for the
growing adoption of Bitcoin in the US. It's yet
another step towards embracing cryptocurrencies
and providing secure options for investors. Over
in Europe, Jacoby Asset Management has introduced
the first European spot, Bitcoin ETF, on Euronext
Amsterdam. Europe is taking the lead in the ETF
game and we're thrilled to witness this milestone.
It's a great move towards making Bitcoin more
accessible to a wider audience. Breaking news.
Celsius, a popular crypto platform, has announced
plans to shut down its app within the next 90
days. They're aiming to streamline their operations,
optimize distribution, and enhance the overall
user experience. While it may bring some inconvenience
in the short term, the long -term benefits for
Celsius users are definitely worth it. And here's
the latest update from the U .S. Securities and
Exchange Commission, SEC. Brace yourselves, folks.
All ETF approvals have been delayed until early
2024. Yes, you heard that right. It's a bit of
a bummer for all the eager ETF enthusiasts out
there, but patience is a virtue, they say. We'll
just have to wait a little longer to see how
things unfold. Well, that wraps up our Bitcoin
news and updates for today. It's always fascinating
to see how the world of cryptocurrencies keeps
evolving and presenting us with new opportunities.
Whether you're a seasoned investor or just starting
your Bitcoin journey, Remember to stay informed,
stay curious, and stay excited about the future
of crypto. Until next time, happy hodling. Hey
there, folks. Have I got some exciting news to
share with you today? OMON is making waves in
the world of cryptocurrency with its latest venture.
Brace yourselves because the OMON Sovereign Wealth
Fund has just launched a hydro -cooled mining
farm project in the beautiful city of Salalah.
And get this, the project is worth a whopping
$370 million. Now that's no small feat. But hold
on, this isn't the first rodeo for Oman when
it comes to Bitcoin mining. This is actually
their second project in the game. Talk about
a country that's really embracing the possibilities
of cryptocurrencies. They're really on a roll
here. Now to make this all happen, the Bitcoin
infrastructure company Blockstream has teamed
up with Stokar. Together, they're introducing
the innovative Basic Note. And let me tell you,
this note aims to take advantage of the cyclic
nature of ASIC pricing. It's all about making
the most of the ups and downs in the market,
my friends. And speaking of market buzz, let
me drop a little nugget of information on you.
James V. Stratton recently mentioned on Twitter
that we've hit a new low for the year when it
comes to Bitcoin exchange balance. Yep, the balance
is lower than ever. Interesting stuff, right?
Now let's talk about Bitcoin's price volatility.
Brace yourselves because we're reaching historical
lows here. The Bollinger Bands are only showing
a separation range of 2 .9%. That's incredibly
tight. In fact, it's the third tightest spread
in the history of Bitcoin's price. Who would
have thought? OK, let's shift gears a bit and
go back in time. Way back, 52 years ago, the
US dollar was taken off the gold standard. And
since then, its purchasing power has taken quite
a hit. In fact, it has plummeted drastically.
The US dollar was once considered one of the
best performing fiat currencies in the world,
but now it can only buy about 13 % of what it
could back then. Ouch! It's no wonder some people
are considering opting out and choosing Bitcoin
instead. Now let's dive into some technical details.
The Liquid Network's Functionary Source Code
has been made available to the public. Yes, you
heard me right, it's open source now. This means
that anyone can audit the code and even create
their own network similar to Liquid. How cool
is that? If you want to learn more about this
exciting development, head on over to the Liquid
Network's official blog. They've got all the
juicy details waiting for you there. Here's another
interesting tidbit for you. The supply of Bitcoin
held by long -term holders has hit an all -time
high. We're talking about a staggering 14 .6
million Bitcoins. On the flip side, the supply
held by short -term holders has actually dipped
to its lowest level since the end of 2021. Sitting
at 2 .56 million bitcoins, it seems like the
long -term holders are in it for the long haul,
while the short -term ones are taking a step
back. Quite the trend, wouldn't you say? And
last but not least, let's talk about Bitcoin
miners. As the 2024 halving approaches, they
seem to have entered an accumulation phase. You
see, not too long ago, they were on a selling
spree that started back in August 2022. But now,
they're shifting gears and accumulating. It's
all in preparation for the upcoming halving event.
Gotta be strategic, right? And there you have
it, folks. Omen is making waves with their new
mining project. Bitcoin's price volatility is
at an all -time low. And the Bitcoin market is
buzzing with exciting developments. Whether you're
a long -term holder or a short -term player,
there's never a dull moment in the world of cryptocurrencies.
Keep your eyes peeled, because you never know
what might happen next. Prime Trust, a crypto
-related organization, recently filed for Chapter
11 bankruptcy protection. This news adds to the
growing list of companies in the crypto industry
facing financial difficulties. However, it is
worth noting that bankruptcy protection does
not necessarily mean the end for Prime Trust.
It is a legal proceeding that allows the company
to reorganize its debts and continue its operations.
Moving on to Shiba Inu, SIB. The price of this
popular meme coin has experienced a 14 % rally
over the past week. Despite this positive movement,
there are warning signs that should be considered.
The price is currently at a crossroad and its
bullish momentum is fading. Key support levels
to watch are $0 .00001 and $0 .000094, while
key resistance is at $0 .000012. The recent rally
came to a halt on Sunday when sellers demonstrated
strength and caused the price to start falling.
This is the first time in over a week that the
sellers have exerted influence, indicating a
potential shift in market sentiment. In other
news, XRP has seen institutional inflows for
16 consecutive weeks, according to a report by
CoinShares. After three weeks of outflows, digital
asset investment products recorded a total of
$29 million in inflows. This indicates sustained
interest from institutional investors and XRP.
Turning our attention to Argentina, Bitcoin has
reached new all -time highs in the country. This
milestone is significant as the Argentine peso
has been subject to high inflation rates over
the years. As a result, many Argentinians have
turned to Bitcoin as a store of value and a way
to protect their wealth. In the ongoing legal
battle between Binance and the SEC, Binance has
requested a protective order. The exchange accuses
the SEC of conducting a phishing expedition and
has enlisted the help of a former U .S. Department
of Justice prosecutor to represent them. This
legal maneuver is aimed at safeguarding Binance's
interests and ensuring a fair legal process.
The Ethereum Name Service, ENS, a Web3 domain
platform, recently generated $235 ,000 in daily
fees. This is the highest daily fee revenue in
almost a year. ENS offers users the ability to
register and manage domain names on the Ethereum
blockchain, providing a decentralized alternative
to traditional domain registration services.
Singapore's central bank has unveiled regulations
for stablecoins. Stablecoins that meet the criteria
set by the Monetary Authority of Singapore, MAS,
will be labeled as MAS -regulated stablecoins.
This move positions Singapore as a global trailblazer
in stablecoin regulation. ensuring transparency
and stability in the digital asset space. PayPal,
a prominent payment service provider, has appointed
a new CEO. Dan Schulman will step down from the
CEO position in September and leave PayPal's
board of directors in May 2024. This leadership
transition comes shortly after PayPal introduced
support for stablecoins, highlighting the company's
growing involvement in the crypto industry. An
opinion piece suggests that the SEC's stance
toward XRP is impacting its price and exposing
investors to more risk. The article argues that
significant milestones in the SEC lawsuit often
precede significant price movements in XRP. This
pattern raises concerns about the regulatory
environment and its impact on market efficiency.
Celsius, a crypto lending platform, has been
approved to send an adjusted bankruptcy plan
to its creditors. While some investors may oppose
the proposal, the official committee representing
junior creditors, supports the plan. This development
signifies progress in the ongoing bankruptcy
proceedings and the possibility of a favorable
outcome for Celsius and its stakeholders. Shibarium,
Shiba Inu's anticipated Layer 2 blockchain, is
currently in development. This blockchain solution
aims to enhance scalability and functionality
for Shiba Inu and its ecosystem. Further details
and updates on Shibarium are awaited. a digital
asset, has experienced a surge in price following
its listing on Coinbase. This listing has likely
attracted more attention and increased demand
for SEI. However, the reasons behind the surge
extend beyond the Coinbase listing, suggesting
other factors at play. Bitcoin dominance, which
measures Bitcoin's market capitalization relative
to the overall cryptocurrency market, has been
on the rise. This increase indicates that Bitcoin
is regaining its prominence compared to other
cryptocurrencies. Meanwhile, some altcoins, such
as HBAR, have seen significant drops in value
over the past 24 hours. Lastly, Cardano, ADA,
is showing potential for further growth with
a target price of 25 cents. However, there are
three key factors to watch closely to assess
whether ADA can reach this target. These factors
include market sentiment, price levels and the
overall performance and development of the Cardano
ecosystem. So let's dive right into the latest
updates in the world of cryptocurrency. First
up, we have Cardano. Unfortunately for ADA holders,
the price did not manage to hold above the key
support level at 28 cents. In fact, the price
has now turned into resistance and the current
momentum is favoring sellers. With buyers absent,
Cardano is struggling to reverse the downtrend.
It's a tough time for ADA holders, but hopefully
things will turn around soon. Now let's talk
about Ripple and the SEC case. There has been
some development in the case, but it's not exactly
what most would expect. Judge Torres has approved
a notice of appearance in the case. This could
potentially have some significance moving forward,
but we'll have to wait and see how it plays out.
The Ripple V SEC case has been a hot topic in
the crypto community, and every little update
is closely followed by many. Next, let's move
on to Pepe. The price of Pepe has recently crashed
by 10 % in just one day. It seems like the rally
is over, and the price has found support at $0
.0000123. However, sellers still have control
of the price action, and it's uncertain whether
this support level will hold. It could be a bumpy
road ahead for Pepe investors, so it'll be interesting
to see if there's a bounce or more pain in store.
In other news, Binance US is seeking a protective
order against what they perceive as a phishing
expedition by the SEC. The crypto exchange claims
that the SEC's discovery requests go far beyond
the scope agreed upon in the consent order. This
highlights the ongoing tension between regulators
and crypto exchanges. as they navigate the ever
-evolving landscape of regulations. On a positive
note, Europe has taken the lead in the Bitcoin
ETF race. Jacoby Asset Management has launched
Europe's first Bitcoin exchange traded fund on
Euronext Amsterdam, beating the US to the punch.
This is a significant milestone for the European
crypto market and showcases the growing acceptance
and interest in digital assets. Unfortunately,
not all news is good news. Memecoin -based DEX
Rocket Swap has recently been hit by a $866k
exploit. The hackers managed to bridge the stolen
amount back to Ethereum and even created a memecoin
with the stolen funds. This incident serves as
a reminder of the security risks that exist in
the crypto space and the importance of robust
security measures. Shifting our focus to Singapore,
the financial regulator has issued key requirements
for stablecoin issuers. It is important to note
that stablecoins issued outside of Singapore
or pegged to other currencies will still be subject
to the existing token regulatory regime. This
move emphasizes the need for regulatory clarity
surrounding stablecoins as they become increasingly
popular in the crypto market. In the realm of
legal proceedings, a former FTX executive has
declined to testify citing his Fifth Amendment
rights. The co -CEO of FTX Digital Markets has
chosen to invoke his constitutional right against
self -incrimination, opting to remain silent
throughout the trial. This will certainly have
an impact on the proceedings and the outcome
of the case. Now let's shift our attention to
the broader crypto landscape. The quiet revolution
of fintech and DeFi is well underway. While mainstream
audiences may not be fully aware, the promise
of crypto has finally been realized. Fintech
is working behind the scenes to revolutionize
traditional financial systems, while DeFi is
democratizing access to financial services through
decentralized platforms. It's an exciting time
to be a part of this transformative industry.
Wrapping things up, Decrypt's Jason Nelson recently
had the opportunity to speak with Star Atlas
founder and CEO Michael Wagner about the development
of their MMO game. They discussed the game's
approach to development, marketing, and blockchain
integrations. Star Atlas is pushing the boundaries
of what's possible in the gaming industry, leveraging
blockchain technology to create a truly immersive
and decentralized gaming experience. Lastly,
Helium Mobile has debuted its crypto wireless
network in Miami. For just $5 a month, users
can now access Helium's network, which aims to
provide long -range, low -power connectivity
for Internet of Things devices. This is an exciting
development that showcases the potential of blockchain
technology in revolutionizing connectivity and
IoT. And that wraps up our latest rundown of
cryptocurrency news. Stay tuned for more updates
as the crypto world continues to evolve and innovate.
Hey everyone, today we've got some exciting news
in the world of technology and crypto. The Helium
network is making waves as a hybrid mobile carrier,
offering a cheap, unlimited plan and even crypto
token rewards. That's right, you can now earn
cryptocurrency just for using your phone. Meanwhile,
in South Korea, Zapito, the leading metaverse
platform, is teaming up with Jump Crypto for
their new joint venture called ZTX. They're really
diving into the world of non -fungible tokens,
NFTs, and investing big in the metaverse. This
collaboration has already raised an impressive
$13 million in their seed round. Now let's talk
about a controversial figure in the crypto space,
Richard Hart and his project Hex, a new documentary
called The Highest of Stakes, attempts to shed
light on both the supporters and critics of Richard
Hart and his creation. It's an interesting debate,
but one has to wonder how much of it is just
for show. Moving on, Anthony Scaramucci's SkyBridge
Capital is taking a stance on the idea of a Bitcoin
exchange traded fund, ETF. They strongly disagree
with Grayscale and believe that Coinbase is more
than capable of being a partner for surveillance
sharing. It's clear that opinions on this matter
differ across the industry. In Georgia, former
president Donald Trump and 18 others have been
indicted on racketeering charges. The local sheriff
even mentions that they'll have a mugshot ready
for him. It's certainly a controversial situation,
and we'll have to wait and see how it unfolds.
Shifting gears a bit, the film industry is grappling
with the use of artificial intelligence. AI.
SAG -AFTRA, the Actors' Union, is in the midst
of negotiating an agreement that includes rules
for the use of AI. Executive Director Duncan
Crabtree -Ireland explains their approach and
emphasizes that it's not a waiver, but rather
a way to address the evolving landscape. In the
political realm, House Republicans are criticizing
the SEC's approval of Prometheum. They suspect
that there may have been some political orchestration
behind the scenes. It's an accusation that will
surely raise eyebrows and prompt further investigation.
Let's talk about art now. Eric Calderon, in collaboration
with Jordan Lyle of Prohibition, has created
an affordable NFT collection on the Arbitrum
network. What's interesting about this collection,
called Heart Plus Craft, is that it also has
a physical expression. It's a unique combination
of digital and physical art that truly pushes
the boundaries. In the finance world, Stellar
is making moves by investing in MoneyGram. The
goal is to establish themselves as a digital
forward fintech leader. This partnership has
been in the works for a while and shows the potential
for blockchain technology to transform the way
money is moved globally. In a surprising turn
of events, it turns out that Donald Trump holds
over $5 million worth of cryptocurrencies. Despite
his past skepticism towards this digital asset
class, he has become quite the crypto whale.
It's fascinating how opinions and portfolios
can change over time. Shifting gears once again,
let's talk about the exciting intersection of
technology and healthcare. Google and iCAD are
teaming up to harness the power of artificial
intelligence for cancer detection and care. AI
has the potential to revolutionize the screening
process and help save lives. So this collaboration
is definitely worth following. In the banking
sector, Silvergate Bank is going through some
changes. The CEO is stepping down at the end
of September, leaving only the former chief risk
officer at the helm. It's always interesting
to see how leadership transitions play out and
the impact they have on the company. Now let's
talk sneakers. Adidas has joined forces with
Bape for an ultra -limited edition sneaker release.
Only 100 pairs of the Adidas Originals Triple
White Forum 84 Bape Low will be auctioned off
as NFT passes. If you're lucky enough to get
your hands on one of these tokens, you can redeem
it for a pair of these exclusive kicks. And lastly,
in legal news, prosecutors are planning to use
personal notes from Caroline Ellison as evidence
against former FTX CEO Sam Bankman Fried. It's
always intriguing to see how the legal system
incorporates various forms of evidence, and this
case is no exception. Before we wrap up, it's
worth mentioning that a newly launched token
called SEI has already reached trading volumes
of over $1 billion in just one day. It's a significant
milestone for any project, and it will be interesting
to see how this token performs in the future.
That's it for today's news roundup. Stay tuned
for more exciting updates in the world of technology,
finance, and crypto. Until next time. Hey there.
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In summary, we discussed the steady investment
in Bitcoin, the potential for a $180 ,000 valuation
with ETF approval, the rise in Bitcoin's value
in Argentina, the influx of scam funds into crypto
exchanges in Australia, the latest developments
in crypto custody services, the launch of Europe's
first spot Bitcoin ETF, the SEC's delay in approving
ETFs, Oman's mining farm project, the increased
supply of Bitcoin by long -term holders, the
recent bankruptcy filings and regulatory issues
in the crypto space, the struggles of Cardano
and Ripple, the launch of a new helium -powered
mobile carrier, the latest news and collaborations
in the NFT and metaverse space, and the various
platforms where you can support the Bitcoin Street
Journal. I'll see you guys at the next one, and
don't forget to subscribe.