We’ve survived to the end of another week, and before we get ready for the weekend, we have some crypto news for you!

Let’s get started so we can finish and you can get ready to go out:

In Todays Digest:

• The Latest Breaking News 🚨

• What to Watch This Weekend 👀

• Crypto Market Analysis 📈

• TradFi Market Outlook 🧐

• 7 Mistakes to Avoid in Crypto 🛑

What to Watch this Weekend 👀

Does BTC pull a Bart Simpson?

What is a Bart Simpson? It’s a pattern which has got more and more popular after kind of starting out as a meme. I mean… it still is a meme.

It just describes when the price makes a sharp move in one direction, then consolidates (fancy word for ranges), then reverses straight away.

I’m guessing I don’t need to explain why it’s called a Bart, the image makes it pretttyyy clear.

So where is price now?

…. not ideal if you believe in the Bart meme huh?

I know it’s not real Technical Analysis or in-depth charting, but it is something we are watching this weekend.

Latest News in Web3 🚨

FOMC Minutes Show Uncertainty, Cautious Optimism. Large Bitcoin Investors Are Taking Divergent Paths

The release of the Federal Open Market Committee (FOMC) minutes reveals a mixed sentiment among policymakers, reflecting both uncertainty and cautious optimism. As traditional markets grapple with economic recovery and inflation concerns, large Bitcoin investors are taking different approaches. Some are embracing the potential of Bitcoin as a hedge against inflation and diversifying their portfolios, while others are adopting a more cautious stance.

This divergence in investment strategies among prominent Bitcoin investors reflects the ongoing evaluation and varied perspectives on the role of cryptocurrencies in the current macroeconomic landscape.

Binance senior execs quit over CEO's response to investigations

Several senior executives have resigned from Binance, one of the world's largest cryptocurrency exchanges, due to dissatisfaction with the CEO's response to ongoing regulatory investigations. The departures signal internal turmoil within the organization amid increased regulatory scrutiny. As regulatory bodies worldwide focus on crypto exchanges, the leadership's response and actions are crucial for maintaining trust and compliance. This development highlights the challenges faced by industry leaders in navigating the evolving regulatory landscape and underscores the importance of transparent and effective communication during such times.

Some more headlines:

• Multichain potentially compromised in a major exploit exceeding $126 Million

• Kraken co-founder Jesse Powell is under FBI investigation

• US Homeland Security returns $314K from the 2016 Bitfinex hack

• Namibia now legalizes crypto and digital assets

Fact of the Week

Did You Know - No-one Knows Who Created Crypto?!

Prepare to be captivated by the mysterious origins of Bitcoin, my curious friends! Today's crypto fact unravels the enigma surrounding Satoshi Nakamoto, the elusive genius behind the world's first cryptocurrency.

In 2008, a whitepaper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" emerged online, introducing the revolutionary concept of a decentralized digital currency. The author, who used the pseudonym Satoshi Nakamoto, set off a chain reaction that would forever change the financial landscape.

But here's the mind-blowing part –

no one knows the true identity of Satoshi Nakamoto. It's like a real-life detective story that has puzzled the crypto community for over a decade. Is Satoshi a person or a group of individuals? Are they still active in the crypto world, lurking in the shadows, or have they moved on to other endeavors?

Some believe it's a brilliant computer scientist, while others speculate that Satoshi Nakamoto might be a collective effort involving multiple people. The truth remains shrouded in secrecy, leaving us all intrigued and eager to uncover the truth.

What we do know is that Nakamoto's creation, Bitcoin, has grown into a global phenomenon, transforming the way we perceive money and sparking the rise of thousands of other cryptocurrencies. Satoshi's vision of a decentralized, transparent, and secure financial system has inspired a wave of innovation, making Bitcoin a cornerstone of the digital revolution.

Crypto Market Analysis 📈

In June, we noticed a promising uptick in spot volume from our 11 top-dawg graded exchanges. It has climbed by 11.3% compared to May, which brought the total aggregated spot volumes to an impressive $320 billion. This is quite a big deal since it’s the first rise we've seen in three months. AND…

There's still room for growth.

Spot trading volumes on centralized exchanges are, in fact, at historically low levels. To put it into perspective, this quarter has recorded the least volumes since the last quarter of 2019. We remain hopeful and look forward to more exciting developments in the months to come.

TradFi Market Outlook 🧐

Zuck vs Musk 🥊

Meta, the parent company of Facebook, launched a new platform called Threads, which is very similar to Twitter. 

Since its launch, Threads has gained a large number of users. However, Twitter's legal team sent a letter to Meta expressing serious concerns. The letter, written by Alex Spiro, a well-known attorney who has worked with Elon Musk, accused Meta of using confidential trade secrets unlawfully and systematically in the development of Threads.

According to Spiro's letter;

Meta's new platform closely resembles Twitter because it was created by former Twitter employees who were deliberately hired to design an application with a similar interface and functionality.

US Economy 🇺🇸

In terms of economic data, the number of nonfarm payrolls increased by 209,000 in June, which was BELOW the expected estimate of 240,000.

This is still “positive” for the markets since, investors still take “bad news as good news”.

Bad news, means the Fed is less likely to raise rates, which is better for stocks.

However, there is some positive news regarding unemployment. The unemployment rate decreased to 3.6%.

From a technical perspective, the S&P500 futures recently experienced a pullback after a strong jobs report, approaching the support level of 4425.

This level is significant for intraday trading as it aligns with the 20-day moving average on the daily chart and the rising trend line that has been in place since the end of May. If the price breaks below 4425, it could potentially decline further towards 4370.

Tweet of the Day 🐦

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