Good morning! BlockHunt here. Your daily crypto newsletter that keeps on bringing as crisp news as a potato chip.
Here's what we have on the menu today:
- Dreadful week for crypto on the way?
- Most notable exits in Crypto so far
- Meme Of The Day
DREADFUL WEEK FOR CRYPTO ON THE WAY?
The last few weeks for crypto have been relatively quiet due to a lack of financial-related developments that allowed some assets to enter short-term local recovery rallies.
There is a but
However, you should prepare for a jump in volatility this week for multiple reasons.
- FOMC Minutes - more clarity on how the regulation came to the decision to increase the rates in the US
- CPI - this data will be crucial because it will show how financial regulators handle inflation and if there's a need for additional hardening
- PPI - we will be given detailed statistics about the inflation rates
Here are the dates when these meetings will take place.
Primarily, this will have an effect on the U.S. Dollar and stocks, but since Bitcoin is highly correlated to S&P 500, this will affect the whole Crypto market as well.
Bitcoin price stuck in a range
Bitcoin has been stuck in a range for weeks now, between $18,000 and $22,000. This indicates that neither bulls nor bears are in control of the market.
MOST NOTABLE EXITS IN CRYPTO SO FAR
As most people noticed, the crypto bear market didn't hit only regular crypto investors, but big companies as well.
CEOs from big companies like Celsius and Kraken announced their resignations which gave the crypto market a big shock.
Here's a list of September and October exits so far.
- Jesse Powell - Kraken CEO, Sept. 21
- Robert Bogucki - Galaxy Digitals co-head of trading. Sept. 22
- Ashwin Prithipaul - Voyager CFO, Sept. 23
- Alex Mashinsky - Celsius CEO, Sept. 27
- Brett Harrison - FTX US President, Sept. 27
- Matt Ballensweig - Genesis' co-head of sales, Sept. 28
- Matt Mazzeo - Coatue's Investment Manager, Oct. 3
- Daniel Leon - Celsius co-founder, Oct. 4
- Aya Kantorovich - FalconX's head of institutional coverage, Oct. 6
- Jeffrey Kirk - CEO Greenidge Generation, Oct. 7
- Brian Roberts - OpenSea CFO, Oct. 7
Is this cause for an alarm?
Is the crypto ship sinking? Do they know something we don't? These are questions most people are wondering now.
Bitcoin is an inflation edge? Despite being down more than 75%, it's still the strongest asset out there.
W3E launching the world's first live Web3 esports tournament.
Brazil registers record number of institutions holding Crypto. More than 12,000 companies in Brazil own Crypto.
Four signs that Digital Dollar is on the way. And why you should care.
Crypto scammers targeting Mel B, one of the Spice Girls.
Ripple keeps hiring during bear market. As we have seen in previous newsletter, many companies are firing.
MEME OF THE DAY
That's all for today. Stay thirsty and see ya tomorrow.
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.