Weekly Crypto Recap with NewsCrypto
Welcome back, Crypto Recap readers! After showdown between Oppenheimer and Barbie we got another one.
In one corner, we have the Gen Z NFT trader, snapping up digital art like it's going out of style (which, let's be honest, it might be by the time you finish reading this sentence). They're trading pixelated cats and virtual sneakers with the fervour of a TikTok dance challenge.
In the next corner, we find the Millennial ETH trader, sipping on their oat milk latte, passionately debating DeFi protocols, and reminiscing about the good old days of 2017's crypto boom.
And then there's the Gen X BTC trader, sitting back with a smug grin, holding onto their Bitcoin like it's a prized vinyl record collection, and muttering something about "real digital gold."
Together, they form the crypto Avengers, each with their quirks, battling it out in the ever-volatile market.
What's on the menu today?
1. Breaking Crypto News
2. BTC TA Analysis
3. Trump owns what?!
4. Funniest Meme of the Week
News Recap
· Binance has selected Liquid as an identity verification partner for its Japanese platform.
· The U.S. Securities and Exchange Commission's former head of internet enforcement has warned that "crypto. regulatory onslaught will never end."
· SBF's bail was revoked and he was sent right to where he belongs - in JAIL!
· Digital Currency Group (DCG) has filed a motion to dismiss the lawsuit brought against them by Gemini.
· The CEO of Galaxy Digital Holdings, Mike Novogratz, revealed SEC could approve a spot bitcoin ETF within four to six months.
Do You want to read more about each piece of news?
Check out the News section on our educational platform here
https://app.newscrypto.io/news
Bitcoin TA Analysis
· Crypto Fear and Greed Index Update
· Bitcoin Weekly Time Frame
Weekly Bitcoin chart doesn’t look bullish for now, unfortunately.
Why?
You see the last green (white on the chart) weekly candle, right? Bitcoin was rejected from the local high of $31.1k - remember this number it will be important once we go on a daily time frame.
This is bearish because bulls had the strength to push the price up but were overpowered by the bears once BTC reached the local high.
Now price must not spend too much time below the resistance of $29.5k or there will be an increasingly higher possibility of BTC being rejected and going lower.
While the weekly chart looks bearish it’s a different story with a daily chart.
· Bitcoin Daily Time Frame
Daily chart paints a different picture as we’ve said before.
Here we can see more clearly that Bitcoin was rejected from $31.1k but that’s just half of the Mona Lisa. The other half shows that after rejecting Bitcoin found support at $29.2k.
BTC even swept the lows and if it closes above the support line it will form a higher high which will be bullish. If then BTC pumps and closes above the resistance prepare for another leg higher → to ≈$32k.
Trump owns what?!
It’s always funny to hear about a famous personalities being bearish on crypto in general but owning at least one of the two - BTC or ETH.
Just recently a former POTUS, Donald Trump, disclosed in a Public Financial Disclosure Report that he owns between $250.000-$500.000 of Ether.
Why is he bullish and should you be as well?
There could be many reasons but three of them stand out to us.
EIP-4844 upgrade, PayPal’s PYUSD stablecoin and Visa enabling gas fee payments through Visa cards.
These are the reasons that could turn Trump bullish and cause that he will host fundraising dinners with candles only from now on!
We talked about PYUSD already, ok but what is this EIP-4844 upgrade and what could Visa’s innovation bring to the space?
EIP-4844
Ethereum is planning a big update called Cancun-Deneb. One of the main features of this update is something called EIP-4844, or Proto-Danksharding.
Think of it as a new way to handle data on Ethereum to make things faster and cheaper. Right now, when certain transactions happen, they carry a lot of extra data (called "blobs"). These blobs are stored forever on Ethereum, which can be costly.
With Proto-Danksharding, instead of storing these blobs forever, they'll be kept for just a short time and then removed. This means that it'll be cheaper to do these transactions because there's less permanent data to store. In simple terms, it's like cleaning out old files on your computer to make it run faster and smoother.
VISA
We all miscalculated how much ETH we need to have in the wallet to pay for gas fees at least once. We know how annoying it is to go through the process of depositing more ETH to your wallet again but until now there wasn’t a solution for this.
Visa is trying to change the game. They're testing a new feature that lets users pay those pesky Ethereum gas fees directly with a Visa card.
Here's the deal: usually, when you make a transaction on the Ethereum network, you need to have some Ether (ETH) in your wallet to cover the gas fee.
Visa's solution? Bypass the need for ETH altogether.
With their new system, when you make a transaction, a special contract called the "Paymaster" calculates the gas fee, charges it to your Visa card, and then covers the fee on the Ethereum network.
This means smoother transactions for users and less fussing around with ETH balances. It's like Visa giving your car a direct gas line, so you never have to stop at the pump!
This move could make using blockchain tech way more user-friendly and help bring more people into the crypto world.
Funniest Meme of the Week
