Hey Guys,
Did you notice that we finally had a green week on BTC? Neither did I. That's when you really know you're in a bear market.
The real bear market indicator is when bad news about a crypto project can take its coin or token down by double digits, and that's something else we saw last week. It's not all bad though – there have been some very exciting developments.
I think the biggest news was Optimism's OP token airdrop. Besides the fact that Optimism has strong support from the Ethereum community (including creator Vitalik Buterin), Optimism's move means its competitors are likely to follow suit. The elephant in the room here is Arbitrum, and I give you my analysis of what an Arbitrum airdrop could look like.
Another crypto headline that caught my eye was Fidelity's decision to double the size of its digital assets arm. This is seriously huge news as it proves that institutional interest remains as high as ever. There was also news that Canada's Bitcoin ETF continues to see inflows, something that I didn't cover in the video but definitely needs mentioning here.
I have a feeling the next week is going to be fairly straightforward. I can't see any macro factors or crypto specific factors that could move the market, but as the saying goes, the calm always happens before the storm.
The volatility we've seen over the last couple of weeks has been fairly tame for crypto, so we might be overdue for a big move…
Anyways, enjoy!
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⛓️ 🔗 Useful Links 🔗 ⛓️
► Solana Outage Post Mortem: https://www.coindesk.com/tech/2022/06…
► Shiba Inu Founder Leaves: https://cointelegraph.com/news/shiba-…
► Optimism OP Token Crashes After Airdrop: https://cointelegraph.com/news/optimi…
► Fidelity To Double Digital Asset Staff: https://www.coindesk.com/business/202…
► Argentina Turning To Crypto: https://cointelegraph.com/news/argent…
► Brazil CBDC Plans: https://cointelegraph.com/news/brazil…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
