Crypto News: BTC Rally, ETH Recovery, SOL, FTM, USDT & MORE!

Summary

This week's Coin Bureau Weekly News Roundup covers Bitcoin's recovery as CPI numbers align with expectations and ETF inflows accelerate. The potential for a spot Ethereum ETF approval is debated, with speculation on its impact on ETH's price. Tether faces scrutiny, with Ripple's CEO suggesting a crackdown, coinciding with Kraken's consideration to delist the stablecoin in the EU. China's monetary policy is discussed, with the government reportedly buying homes to stabilize the housing market, which could influence the crypto market. The video also reviews last week's top-performing cryptocurrencies and their future prospects.

Takeaways

• 📈 **Bitcoin Recovery**: Bitcoin's price rallied after the CPI for April came in within expectations, and ETF inflows accelerated.
• 🎢 **Volatility and Macro Factors**: The strong response of BTC to the CPI suggests that macroeconomic factors will continue to influence crypto market volatility.
• 💡 **Spot Bitcoin ETFs**: There is speculation about the potential approval of spot Bitcoin ETFs, which could impact the market significantly.
• 🌐 **China's Economic Moves**: The Chinese government is reportedly buying homes to prevent a housing market collapse, which could have implications for the crypto market.
• 🔍 **Tether Under Scrutiny**: Ripple's CEO suggests that the US government may crack down on Tether, even as Kraken considers delisting the stablecoin in the EU.
• 📉 **Crypto Market Impact**: The potential delisting of USDT in the EU could have a profound effect on the crypto market, particularly for small cap altcoins.
• 🤔 **ETH ETF Speculation**: There is debate over whether the SEC will approve or deny spot Ethereum ETFs, with potential implications for Ethereum's price.
• 🏦 **Central Banks and Crypto**: Central banks' actions, including interest rate adjustments and liquidity injections, are expected to influence the crypto market trend.
• 💰 **Money Printing in China**: China is injecting liquidity into its economy, which could lead to further stimulus and potentially affect the global financial system and crypto markets.
• 🚀 **Top Performing Cryptos**: Last week's top-performing cryptos included Phantom, Chainlink, Bonk, Ono Finance, and Solana, each with specific catalysts for their price movements.
• ⏱️ **Timing of Market Moves**: It takes time for liquidity conditions to affect BTC prices, suggesting that the impact of recent stimulus efforts may not be felt until later.

Q & A

What triggered Bitcoin's (BTC) recovery rally last week?

Bitcoin's recovery rally was triggered by the release of the CPI numbers for April, which came in within expectations, and the acceleration of inflows into spot Bitcoin ETFs.

How did the CPI numbers affect the ETF inflows into Bitcoin?

The CPI numbers seemed to have spurred the ETF inflows, indicating that macro factors are significant considerations for spot Bitcoin ETF investors.

What is the significance of macro factors in the crypto market?

Macro factors are significant because they can cause volatility in the crypto market. Positive economic prints can lead to bullish movements, while negative prints or deteriorating economic conditions could lead to sharp corrections or even be paradoxically bullish if they increase the likelihood of the Federal Reserve decreasing interest rates.

What could the potential outcomes be if the CPI starts coming in above expectations?

If the CPI starts coming in above expectations, BTC could experience a sharp correction. Conversely, if economic conditions continue to deteriorate, it could be bullish for BTC and other risk assets as it might lead to a decrease in interest rates by the Federal Reserve.

What is the current range that BTC has been trading in on the daily chart since late February, and what does breaking above it signify?

BTC has been trading in a range between $61k and $72k on the daily chart since late February. Breaking above $72k could cause a breakout of the bull flag to the $100K target that many traders have been anticipating.

What is the speculation around the spot Ethereum ETFs and what is the expected decision date?

There is speculation that the SEC could approve the spot Ethereum ETFs, despite the expectation that they will be rejected as the SEC is likely to declare Ethereum a security in upcoming lawsuits. The final decision date is this Thursday.

Why is there a possibility that the spot Ethereum ETFs could be approved despite the SEC's aggressive enforcement arm?

The possibility of approval exists because the SEC's enforcement arm is not in charge of approving or rejecting ETFs. Additionally, there could be political pressure to approve the spot Ethereum ETFs to sway the minds of pro-crypto voters.

What is the situation with Tether (USDT) and the US government's scrutiny?

Tether, the issuer of USDT, is reportedly under scrutiny by the US government. However, Tether has been working with US regulators to ensure compliance, and the US government has an interest in stablecoin issuers growing as they back most stablecoins with US Government debt.

What is the impact of China's stimulus measures on the crypto market?

China's stimulus measures, aimed at preventing a housing market collapse, could inject more liquidity into the economy, which may eventually affect the crypto market. This liquidity could be absorbed by the crypto market, potentially leading to an upward trend in crypto prices.

What are the implications of the EU's new crypto regulations (MiCA) for stablecoins?

Under MiCA, USD stablecoins with more than €2.2 billion in trading volume and 1 million transactions per day must be banned by the end of June. This could lead to the delisting of most USD stablecoins for EU users, potentially affecting the trading of small cap altcoins that primarily trade against USDT.

What were last week's top-performing cryptocurrencies and what factors contributed to their performance?

Last week's top-performing cryptocurrencies were Phantom, Chainlink, Bonk, Ono Finance, and Solana. Factors contributing to their performance included news releases, partnerships, updates to platforms, and potential technical patterns suggesting future price movements.