Breaking: Major Crypto Updates on Bitcoin, ETH ETF delay, SEC, Binance & MORE!! 🚀

Crypto Weekly News Roundup: Bitcoin, ETH ETF Delay, SEC, Binance & More!!

Welcome to the Coin Bureau Weekly News Roundup! My name is [guide] and my name is [Jessica]. Here are the top stories in crypto this week. Pump or dump? BTC prepares for a massive move after recovering from a recent dip. What catalyst will determine its next direction? Ethereum ETF delayed as the SEC kicks the can down the road while the DEnune upgrade’s launch date comes into view. When will ETH finally explode? SEC versus Binance – the world’s largest cryptocurrency exchange continues to wrestle with the anti-crypto regulator while its former CEO awaits his sentencing date. How could this impact the crypto market? China’s economy implodes as Hong Kong’s stock index hits a multi-year low. The PBOC steps in to defend the yuan and the CCP considers a multi-trillion-dollar bailout. 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 coming up!

Bitcoin Market Analysis

Last week, BTC reclaimed the key level of $42k after falling to $39k. The rally was driven primarily by hundreds of millions of dollars of short liquidation, resulting in less sell pressure due to outflows from Grayscale’s Bitcoin ETF. The inflows into other spot ETFs are expected to have a positive impact on BTC price. Grayscale’s outflows are now in the rearview mirror, suggesting potential buying pressure in the coming days. New players entering the market and increasing popularity of spot Bitcoin ETFs are supporting BTC’s price around the low to mid $40k range.

Outflows from Grayscale spot Bitcoin ETF slowing down
Inflows into other spot ETFs offsetting selling pressure
Potential positive impact on BTC price in the coming days

ETH Market Updates

ETH, the second-largest crypto by market cap, has been underperforming against BTC and other altcoins. Its price has been consolidating between $2.2k and $2.4k for almost two months. The delay in spot Ethereum ETF applications by the SEC has contributed to this underperformance. The upcoming Denune upgrade, expected to launch on mainnet by the end of February, could be a bullish catalyst for ETH and its layer 2 solutions.

ETH price consolidation around $2.2k-$2.4k
SEC delays spot Ethereum ETF applications
Denune upgrade launch expected by end of February

Regulatory Developments

The SEC’s ongoing lawsuit against Binance intensifies with demands for additional depositions of Binance officials. Former CEO Changpeng Zhao (CZ) awaits his sentencing date, raising uncertainty in the market. The SEC’s anti-crypto stance and delay tactics on ETF applications add to the regulatory pressure in the crypto industry. The outcome of the SEC’s case against Binance could impact the market, particularly BNB, as CZ focuses on the cryptocurrency.

SEC intensifies lawsuit against Binance
CZ’s sentencing date approaching
Regulatory uncertainties affecting BNB and the crypto market

Global Economic Impact

China’s economic weakness, reflected in Hong Kong’s stock index hitting a multi-year low, could indirectly affect the crypto market. Despite the ban on trading cryptocurrency in China, holding crypto assets is not prohibited. Capital flight and stimulus measures by the CCP and PBOC to defend the yuan could influence crypto market dynamics. Stablecoins like USDT, used for transferring money in and out of China, face scrutiny amid economic uncertainties.

Chinese economic weakness impacting crypto market indirectly
PBOC defending yuan’s value with stimulus measures
Risk of increased regulatory controls on crypto in China

Top Performing Cryptos

Last week’s top performing cryptos include Manta Network, Conflux, Sui, Helium, and Iota. Manta Network’s token surged due to exchange listings and TVL growth, while Conflux saw a breakout on a special SIM card release. Sui became one of the largest smart contract cryptocurrencies by TVL, and Helium partnered with a telecoms company in Latin America. Iota rallied with positive comments by project members. Tracking pumping cryptos and trading opportunities is easy with the Coin Bureau Telegram channel.

Manta Network, Conflux, Sui, Helium, and Iota top performers
Manta Network token surge from exchange listings and TVL growth
Conflux breakout on special SIM card release
Sui’s TVL growth and price momentum
Helium’s partnership with a telecoms company
Iota’s rally on positive comments by project members

Hot Take: Future Crypto Trends and Market Outlook

The crypto market continues to face regulatory challenges, economic uncertainties, and macro factors that could influence price movements. As investors navigate these complexities, staying informed about regulatory developments, market trends, and top performing cryptos is crucial for making informed decisions. The upcoming Denune upgrade for Ethereum, ongoing regulatory scrutiny on Binance, and China’s economic weakness are key factors shaping the crypto landscape. Monitoring market dynamics and potential catalysts can help you stay ahead in the ever-evolving crypto market.