Bitcoin Price Surge: IMF, FTX, Coinbase, Mastercard, Stablecoins, ETFs, Institutional Money & More
In this exciting episode, we delve into the recent surge in #bitcoin price, crossing the remarkable milestone of $31.3K. Join us as we explore the technical analysis behind this surge and its potential implications for the crypto market.
Firstly, we discuss the significant news of Matrixport's Bitcoin Greed & Fear Index surpassing 90%. This index has historically been associated with interim market tops, suggesting a potential breather for the bull run ahead. We dive into the implications of this indicator and what it could mean for Bitcoin's future trajectory.
Next, we turn our attention to the International Monetary Fund's (IMF) warning against banning cryptocurrencies as a long-term strategy. We examine the IMF's insights and discuss the potential consequences of such a ban, shedding light on the complexities surrounding crypto regulations.
In a surprising turn of events, #FTX, one of the leading crypto exchanges, files a $700M clawback lawsuit against former associates of #SBF . We explore the details of this legal battle and its potential impact on the crypto community and market dynamics.
Shifting gears, we celebrate #coinbase recent win at the US Supreme Court over arbitration. This victory sets a precedent for the crypto industry, emphasizing the importance of arbitration in dispute resolution. We analyze the implications of this ruling and its broader significance for the crypto ecosystem.
Additionally, we uncover Mastercard's foray into the crypto card market with its 'Engage' Program. This move highlights the growing acceptance and adoption of cryptocurrencies in mainstream financial services. We discuss the potential implications of Mastercard's entry into this space and its impact on the wider crypto card market.
Lastly, we explore the rising flow of stablecoins on #crypto exchanges, signaling growth and increased activity.
Sources:
Bitcoin Hits One-Year High, Soars Past $31.3K
https://www.coindesk.com/markets/2023/06/23/bitcoin-hits-one-year-high-soars-past-313k/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
Matrixport's Bitcoin Greed & Fear Index Surpasses 90%, Suggests Bull Breather Ahead
Historically, an above 90% reading on the index has coincided with interim market tops.
https://www.coindesk.com/markets/2023/06/23/matrixports-bitcoin-greed-fear-index-surpasses-90-suggests-bull-breather-ahead/
IMF warns banning crypto may not be an effective long-term strategy
https://cryptoslate.com/imf-warns-banning-crypto-may-not-be-an-effective-long-term-strategy/
FTX files suit against SBF’s old pals in $700M clawback attempt
https://blockworks.co/news/ftx-attempts-700m-clawback
Coinbase celebrates win at US Supreme Court over arbitration
https://www.theblock.co/post/236202/coinbase-celebrates-win-at-us-supreme-court-over-arbitration?utm_source=cryptopanic&utm_medium=rss
Mastercard's 'Engage' Programme Enters Crypto Card Market
https://cryptonews.com/news/mastercards-engage-programme-enters-crypto-card-market.htm
Rising Stablecoin Flow Signals Growth on Crypto Exchanges
https://dailycoin.com/rising-stablecoin-flow-signals-growth-crypto-exchanges/?utm_source=cryptopanic&utm_medium=rss
Economic Calendar:
https://www.marketwatch.com/economy-politics/calendar
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