Welcome to the coin buau Weekly News Rounder my name is Jessica and my name Is guy here are the top stories in Crypto this [Music] Week btc's oversold status BDC Experiences a false breakout before Pulling back on bearish macro and crypto Factors when could the recovery rally Come eth ETF hopes eth rallies after Mecoin activity picks up and Franklin Templeton spot ethereum ETF lists on the Dtcc website what does it all mean for Eth major stablecoin developments us Politicians push for stable coin Payments as payment companies prepare For possible regulations how this could Affect the crypto Market Japanese Yen Implodes the world's third largest Currency Falls to its lowest level in Over 30 years leading to specul Of a global currency crisis everything You need to know and a closer look at Last week's top performing cryptos and Where they could be headed next all this And More in just a Moment last week BTC almost broke out of Its recent downtrend unfortunately Though this recovery rally was cut short By a combination of bearish crypto and Macro factors the biggest bearish crypto Factor appears to have been outflows From the spot Bitcoin ETFs now while Spot Bitcoin ETF outflows are nothing
New there was a small but significant Novelty about last weeks black Rock's Spot Bitcoin ETF experienced 3 days with Zero inflows to put things into Perspective Black Rock Spot Bitcoin ETF Had experienced inflows every day since Its launch although the breaking of this Inflow streak is a bit concerning Black Rock Spot ETF has apparently not Experienced any outflow close at least Not yet this suggests that the investors In Black Rock's product have Diamond Hands compared to the ones investing in The other ETFs still it all begs the Question of why the inflows into black Rock's ETF came to a halt well the Answer is likely the biggest bearish Macro factor which was the onew punch of The weaker than expected q1 GDP print And the higher than expected inflation Figures for March per the pce the reason Why this is so bearish is because it Increases the possibility of what is Arguably the worst case scenario for Both the markets and the economy Stagflation for those unfamiliar Stagflation is when the economy is weak But inflation is strong and some would Say we're not far off from this now the Reason why stagflation is problematic For the markets and the economy is Because responding with stimulus risks Hyperinflation and responding with Higher interest rates risks creating a
Depression it took us a World War to get Out of the last depression so uh let's Hope the elites pick Hyperinflation anyways the barage of Bearish crypto and macro factors managed To beat down btc's price on The Daily But it seems to have settled at the Support levels in the low 60 K this is Not that surprising given that BTC has Been bouncing between the low 60k and The low 70k for over 2 months now what Is surprising is just how much btc's Momentum indicators have reset Particularly on longer time frames like The weekly as a fun fact consolidation That is sideways price action is Functionally the same as a big crash When it comes to resetting market Conditions both set the stage for a big Rally with over two months of Consolidation under its belt Bea PC is Primed for a big rally and it's possible That all the crypto and macro factors We're going to get this week will be the Catalysts those of you who are Subscribed to our Weekly Newsletter will Know which ones those are and the link To that is in the description anyhow When it comes to how high BTC could go Many have been pointing out the apparent Bull flag forming on btc's weekly and Monthly charts if it plays out BTC could Rally as high as 100K the catch is that btc's Weekly
Price action looks more like a Distribution pattern not a bull flag This means that BTC could see another Few weeks of choppy price action before Experiencing a severe correction in late May or early June something that Experienced BTC Traders such as Bob Lucas also foree between now and then Though a sizable recovery rally seems to Be on the cards and if you want to try Your hand at trading it then be sure to Check out the coin Bureau deals page It's got trading fee discounts of up to 60% and sign up bonuses of up to $660,000 on the best crypto exchanges These deals are available exclusively For our viewers and won't be around Forever so take advantage of them before They expire using the link in the Description anywh who whereas btc's Price has barely had a pulse lately Eth's price is starting to show signs of Life on the daily eth is back above of The Ballinger band moving average a Bullish sign zooming out to the weekly Reveals a Morning Star pattern a bullish Candlestick pattern that foreshadows a Price of $3,700 more about Candlestick trading in The description I digress now most Importantly eth is surging against BTC On The Daily with the Ballinger band Suggesting that it's squeezing to the Upside the eth BTC chart on the monthly
Suggests eth could squeeze as high as 063 which would translate to a 20% rally Against BTC now to be clear this doesn't Necessarily mean that eth is about to Rally by 20% in Fiat terms rather it Means that eth is about to see Substantial strength against BTC of Course if btc's price stays where it is Then it could very well translate to a 20% gain in Fiat terms if btc's price Rises then eth's returns in Fiat terms Would be higher so all that's needed is A catalyst for eth to outperform BTC and If you've been keeping up with our Weekly crypto reviews you'll know that We've highlighted ethereum's layer 2 Ecosystem as one possible Catalyst the Tvl on ethereum's layer 2s has been Growing fast and many layer 2 tokens Have started rallying too and if you've Been keeping up with the crypto news in General then you'll know that the spot Ethereum ETFs are another Catalyst that Could cause eth to explode despite the Growing consensus that these ETFs won't Be approved Franklin Templeton spot Ethereum ETF listed on the dtcc website Last week to refresh your memory the Spot Bitcoin ETFs were listed on the Dtc's website a few weeks before they Were approved by the SEC the caveat Though is that listing on the dtc's Website reportedly has zero relation to The chances of being approved by the SEC
It's standard practice for many Prospective ETFs but the fact that we Saw the same event with the spot Bitcoin ETFs has nonetheless led to renewed Speculation that the spot ethereum ETFs Do have a chance of getting approved the Approval of spot ethereum ETFs in Hong Kong tomorrow could add additional fuel To this speculative fire more about that In yesterday's Q&A and last but not Least many mean coins in ethereum Ecosystem appear to be pumping the most Notable being Pepe as we've seen with Salana mcoin hype seems to be the secret Source to getting smart contract cryptos To Rally mcoin hype on ethereum and its Layer tws could therefore take eth much Higher there's just one thing to keep in The back of your mind though and that's That tensions between the secc and large Entities in ethereum's ecosystem appear To be heating up in case you missed the News consensus was reportedly issued With a Wells notice by the SEC and is Now preemptively suing the regulator for Context consensus is one of the largest Companies in ethereum's ecosystem it's The creator of the metamask wallet as Well as infura a key piece of Infrastructure used to interact with the Ethereum blockchain and as a cherry on Top consensus was founded by ethereum Co-founder Joe Luben as always the St is Reportedly going after consensus because
Of alleged Securities laws violations Specifically metamasks Swap and staking Services however we won't know for sure Until the SEC actually sues the company Something that probably won't happen Until sometime in the second half of May Given how closely connected consensus is To ethereum the contents of the lawsuit Could prove to be more concerning than The surface level allegations or even The prospect of eth D listings if there Is any evidence of Nefarious activity This could do damage to not just Ethereum but its entire ecosystem on That note there's another regulatory Development that could shake up the Crypto market and that's stable coin Regulations to bring you up to speed us Politicians have been trying to pass Stablecoin regulations for over a year But they've been on the back burner Recently because of other more pressing Matters Now that these other matters have Seemingly been addressed us politicians Are finally turning their attentions to Stable coins and the clock is ticking if You've watched our previous videos about Stablecoin regulations in the United States then you'll know Regulators Warned they will crack down in the Absence of legislation so far the Crackdown on stable coins by the likes Of the has been relatively limited and
That's probably because the banks the Asset managers and even the US Government have a lot to gain from Stable coins news flash these are the Entities fighting over crypto regulation In the background so starting with the Banks the updated stablecoin regulations Would allow Banks to become stablecoin Issuers and give them an unfair Advantage over existing stable coin Issuers like Circle that's because it Would require all large stable coin Issuers to get banking licenses which Banks obviously already have for the Asset managers they stand to earn Hundreds of millions if not billions of Dollars in fees for managing stable coin Reserves for reference Black Rock Already manages the reserves for circles Usdc stablecoin notably this gives Black Rock an incentive to increase usdc Market cap and as for the US government The fact that all USD stable coins are Backed primarily by us government debt Means that stable coins can be used to Effectively subsidize government Spending in other words when you buy or Hold usdc or usdt you are unknowingly Funding the US government this fact is Presumably Why Us authorities haven't Cracked down on Tether besides the fact That cracking down on Tether would Disrupt the crypto ecosystem that black Rock is busy trying to capture it would
Result in selling pressure for us Bonds In the short term and reduced demand in The long term in turn this would Translate to higher interest rates which Neither the markets the economy nor the Government can afford that's why it's a Bit odd that the updated stablecoin Bill Includes a de facto ban on stablecoin Issuers not based in the United States It will essentially cut usdt out of the American Market in theory this will Result in more demand for usdc but in Practice stable coins AR AR Ed that much For trading on us exchanges case in Point the trading pairs with the most Volume on coinbase are all against USD And some of you will know Europe will Also limit USD stablecoin trading pairs In June more about that in the Description moving on now here is where Things get interesting the focus of the Updated stablecoin regulations in the US Is payments per the title quote Lumis Giller brand payment stable coin Shortly after the bill was tabled Payments company stripe announced it Would soon enable usdc payments Logically this suggests that stripe Believes the stablecoin bill will become Law in addition to this signal what's Interesting is that stripe will support Usdc on salana ethereum and polygon to Begin with logically this suggests that All three will become the standard and
That soul eth and Matic could all Benefit as a result result now as Amazing as this all sounds there are two Things to keep in mind the first is that These stable coin regulations may not Become lore anytime soon and that's Guaranteed if we see say more escalation In the Middle East the second is that These stable coin regulations could set The stage for Cbdcs take a second to consider that Centralized stable coins like usdc are Functionally identical to cbdcs the only Difference is that stable coins are Controlled by private companies whereas Cbdcs are controlled by governments and Central banks in the case of Black Rock And usdc the lines are certainly blurred Here and speaking of digital currencies It's possible that a cbdc will be the Only way for Japan to get out of what Could be an imminent currency crisis Without destroying the global economy as Mentioned earlier the Yen fell to its Lowest level against the US dollar late Last week and this is just the tip of The iceberg so let's start with why the Yen is crashing there seem to be two Reasons one shortterm and one long-term The short-term reason is because the Bank of Japan was more doish than Expected in its recent meeting since Investors believed the Yen would Strengthen the opposite happened on this
Catalyst the long-term reason is because The Japanese government has the highest Debt to GDP ratio of any any country Similarly to the stagflation issue Japan's debt issue means it can't Stimulate too much without causing Hyperinflation and it also can't raise Rates too much as doing so would Bankrupt the government not only that But Japan Imports most of its energy Because energy is paid for in US Dollars This means that the Country Must Constantly sell Yen for USD as some of you may have noticed Energy prices have risen recently Because of geopolitical tensions in the Middle East this has put more pressure On the yen versus the USD this ties in To what the bank of Japan can do to Support the Yen there are three options The first is for the boj to sell some of The US government debt it holds for USD In order to buy yen as some of you will Know Japan happens to be the largest Holder of US Government debt outside of The US which gives it lots of legum the Problem with this approach though is That selling too much US Government debt Would cause interest rates in the US to Rise which would cause issues for us Markets in a worst case scenario it Could also cause issues for the US Government though it would likely be Able to print its way out of any trouble
This relates to the second option and That's for the Federal Reserve to swap USD for yen in a sort of OTC deal put Simply the FED would basically create USD out of thin in Air and give it to The boj so that it can buy yen this Seems to be the most likely outcome and It's likely that it will be combined With the third option that third option Is for the FED to be more doish than Investors expect later this week on Wednesday when it announces its next Interest rate decision this would narrow The difference in interest rates Investors expect between the US and Japan which should combined with some Subtle stimulus bring the Yen back from The brink to be fair there is a fourth Option but it's probably impossible for The boj to exercise that takes the form Of an unannounced rate hike which could Put pressure on the Japanese government Due to its massive debts and pressure on All the foreign assets that were bought Using borrowed Yen when rates were at Zero in some then it looks like there's Only one option for the Yen and that's For other currencies namely the US Dollar to weaken this will involve some Form of stimulus which will be Beneficial for crypto once it makes its Way into the markets come to think of it This could be the Catalyst for the Recovery rally and with all that said
It's about time we looked at last week's Top performing cryptos so Jessica take It Away thank you guy well last week's top Performing cryptos were Pepe Bonk hadera Hashgraph near protocol and the gate Token Starting with Pepe it appears to have Pumped on the news that coinbase has Listed Perpetual futures for the meme Coin it's believed that this foreshadows A listing on coinbase's spot markets Something that Pepe is currently missing Believe it or not but Pepe appears to be Painting a bull flag on its long-term Price charts if it plays out Pepe could Almost double from its current levels This would require quite a bit of hype And fomo to achieve a coinbase listing Combined with an ether rally could do The trick next up we have bon which Appears to have pumped on the project Sponsorship of crypto fight week and the Drone show advertisements the meme coin Had been doing in Dubai like Pepe Bon is Looking bullish on its long-term price Charts the difference is that it appears To painting a sort of double bottom Pattern regardless it likewise appears To be primed for another 2x rally which Wouldn't be out of the ordinary given That mem coins are the first movers During rallies as for hadera hashgraph It's hbar coin pumped on the news that
One of black Rock's funds had been Tokenized on hadera's hashgraph the Thing is is that it wasn't black rock That did this but another UK firm Black Rock subsequently clarified that it is Not affiliated with hadera hashgraph the Result is what you see here a massive Speculative pump followed by an equally Large dump the good news is that harar Still appears to be in a long-term Uptrend the bad news is that the recent Rally appears to have marked a local top It could be weeks or months before H bar Reclaims these Levels when it comes to near protocol It's near coin appears to have pumped Due to its growing popularity of its Data availability layer you can check Out our Celestia review if you have no Idea what that means the link will be Down in the description now funly enough Nia's long-term price action looks Almost identical to that of Pepe that Means a potential bull flag that could Cause its price to double in the short To medium term though it looks like Nia Faces lots of resistance around the $10 Level so it could take some time for Bigger gains to come finally we have Gate.io gate token which likely pump Because of increased traded volumes on The crypto exchange because gay is an Exchange token there isn't much use in Doing technical analysis but its
Long-term price charts suggest a retest Of $10 before a cup and handle to $14 note that if you do want to keep Track of which cryptos are pumping and Also where you can trade them then be Sure to join the coin buau telegram Channel using the link in the Description and that's all for today's Coin Bureau weekly crypto review if you Enjoyed it then you know what to do hit That like button subscribe button and Bell icon too don't forget to check out Our deals page where we have massive Trading fee discounts and signup bonuses Of up to $60,000 on some of the best Exchanges only for the viewers of this Channel also if you do want to pick up Some of our snazzy crypto merch then the Coin buau merch store has you covered You can find the link to those resources And many others in the description below Thank you thank you so much for watching And we'll see you all in next week's Episode [Music]
