Daily Market Brief - 28.03.2023
Market glance
Total market cap / 24h chg: $1,134,177,669,227 / -2.01% 🟥
BTC Dominance / 24h chg: 46.10% / -0.65% 🟥
Bitcoin's price is currently experiencing a drop. The reason for the current drop is attributed to news that global exchange Binance is being sued by US regulators for violating derivatives trading rules. The crypto market sentiment has been affected, and Binance's in-house token, Binance Coin, is also down by around 5% on the day. The pressure on crypto markets is also not helped by the lack of clear direction in major risk assets, including the S&P 500 and the Nasdaq Composite Index.
Market glance
Total market cap / 24h chg: $1,134,177,669,227 / -2.01% 🟥
BTC Dominance / 24h chg: 46.10% / -0.65% 🟥
Bitcoin's price is currently experiencing a drop. The reason for the current drop is attributed to news that global exchange Binance is being sued by US regulators for violating derivatives trading rules. The crypto market sentiment has been affected, and Binance's in-house token, Binance Coin, is also down by around 5% on the day. The pressure on crypto markets is also not helped by the lack of clear direction in major risk assets, including the S&P 500 and the Nasdaq Composite Index.
Summary of the day, March 28
💬 Changpeng Zhao considers the accusations of the U.S. Commodity Futures Trading Commission (CFTC), which the regulator brought against him and the trading platform itself, unfair - the head of Binance called the complaint of the regulator unexpected, as the exchange for the past two years has been cooperating with the Commission. CZ believes that the regulator's claim misrepresents many facts, so the Binance team disagrees with the accusations.
🇷🇺 13 Russian banks said they are ready to test the digital ruble (CBDC) on real customers - the launch of the pilot will begin after the adoption of the regulatory framework in late April or early May.
👁 The RF Ministry of Finance has prepared liability measures for cryptans
🤖 A British engineer created an AI-bot called Warren Buffett, which aims to analyze financial documents in the style of a famous investor. The bot should save time by quickly extracting the necessary information from lengthy annual reports and other financial documents. Meio Oshin gave the bot about 1000 pages of Tesla's financial reports and asked it to calculate the amount of the company's income growth. It did the calculations, answered the question and gave a list of sources of information.
🐳 MicroStrategy can sell 1 BTC every hour and every day for 15 years - the company will still have BTC. After the last purchase, MicroStrategy has 138,955 BTC on its balance sheet, purchased at an average price of $29,817 per BTC.
⛓ Ethereum co-founder Joseph Lubin says the strength of the crypto ecosystem “has never been better or stronger.” He believes “more clarity” from regulators would be helpful for the crypto industry. “I think our industry has suffered from having two major factions lumped into one: the money-crypto faction … and the tech-crypto faction,” he explained.
🏦 According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States.
--
Source: Taurus & DeCenter
💬 Changpeng Zhao considers the accusations of the U.S. Commodity Futures Trading Commission (CFTC), which the regulator brought against him and the trading platform itself, unfair - the head of Binance called the complaint of the regulator unexpected, as the exchange for the past two years has been cooperating with the Commission. CZ believes that the regulator's claim misrepresents many facts, so the Binance team disagrees with the accusations.
🇷🇺 13 Russian banks said they are ready to test the digital ruble (CBDC) on real customers - the launch of the pilot will begin after the adoption of the regulatory framework in late April or early May.
👁 The RF Ministry of Finance has prepared liability measures for cryptans
🤖 A British engineer created an AI-bot called Warren Buffett, which aims to analyze financial documents in the style of a famous investor. The bot should save time by quickly extracting the necessary information from lengthy annual reports and other financial documents. Meio Oshin gave the bot about 1000 pages of Tesla's financial reports and asked it to calculate the amount of the company's income growth. It did the calculations, answered the question and gave a list of sources of information.
🐳 MicroStrategy can sell 1 BTC every hour and every day for 15 years - the company will still have BTC. After the last purchase, MicroStrategy has 138,955 BTC on its balance sheet, purchased at an average price of $29,817 per BTC.
⛓ Ethereum co-founder Joseph Lubin says the strength of the crypto ecosystem “has never been better or stronger.” He believes “more clarity” from regulators would be helpful for the crypto industry. “I think our industry has suffered from having two major factions lumped into one: the money-crypto faction … and the tech-crypto faction,” he explained.
🏦 According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that SVB owned across the United States.
--
Source: Taurus & DeCenter
https://dcryptofinance.substack.com/p/2-sections-and-a-3rd-to-come-3
We are aware that, for the moment, the newsletter is a bit light, and we will add a new section every month. Currently, only two sections are available (Major News Of The Week & Twitter Account To Follow), and a third will be next week.
It's not an excuse, but a bit :D, as a reminder, DMedia, the company that created the newsletter, and especially Boris Nedeltchev, its founder, have also developed SorareInfo, a media dedicated to Sorare. Unfortunately, we had put aside DCrypto to develop SorareInfo. Despite a Bear Market, we also want to develop this crypto media as much as possible. So, you can expect to find more and more content, initially in English, on DCrypto.
For this year, we are not committing to a specific amount of content, but we will try to produce the following:
- 1 weekly newsletter
- 1 monthly newsletter
- 1 weekly article on the DCrypto.finance website
- 1 monthly interview of a key actor of the crypto ecosystem on the website
We are already way behind and unsure how to succeed, but it is worth trying. We will set specific goals and meet them in 2024, hoping for better market conditions.
We are aware that, for the moment, the newsletter is a bit light, and we will add a new section every month. Currently, only two sections are available (Major News Of The Week & Twitter Account To Follow), and a third will be next week.
It's not an excuse, but a bit :D, as a reminder, DMedia, the company that created the newsletter, and especially Boris Nedeltchev, its founder, have also developed SorareInfo, a media dedicated to Sorare. Unfortunately, we had put aside DCrypto to develop SorareInfo. Despite a Bear Market, we also want to develop this crypto media as much as possible. So, you can expect to find more and more content, initially in English, on DCrypto.
For this year, we are not committing to a specific amount of content, but we will try to produce the following:
- 1 weekly newsletter
- 1 monthly newsletter
- 1 weekly article on the DCrypto.finance website
- 1 monthly interview of a key actor of the crypto ecosystem on the website
We are already way behind and unsure how to succeed, but it is worth trying. We will set specific goals and meet them in 2024, hoping for better market conditions.
DCrypto.finance
2 sections & a 3rd to come 3️⃣
Binance & the CFTC 💸
🏄♂️ Something essential to remember when starting out in trading is not to go against your instincts and emotional type. Each person has their own personality and trading will bring out some of your character traits, so it is essential to know yourself well and respect your emotions. Don't let your emotions take over, but listen to them carefully, because acting against your values and emotions will lead to the worst decisions. The difficult thing about trading is that if you listen totally to your emotions, your decisions will be bad too. So, as with many things in life, it's about finding the right balance.
Even though we are in a particularly unstable moment and a bear market for a few months, it is essential to always start from the "worst-case scenario". What happens in the worst-case scenario? Often the answer to the question is: we lose our entire investment. So, try to evaluate the different scenarios and assess the risks you are willing to take. Try to know how you will react when your portfolio has dropped by 10%, 20%, 30%...etc. The reverse is also true, when you see your portfolio explode upward, how will you react, how will you react?
Assume that the cycles last 4 years and follow the rhythm of the Bitcoin halvings.
Even though we are in a particularly unstable moment and a bear market for a few months, it is essential to always start from the "worst-case scenario". What happens in the worst-case scenario? Often the answer to the question is: we lose our entire investment. So, try to evaluate the different scenarios and assess the risks you are willing to take. Try to know how you will react when your portfolio has dropped by 10%, 20%, 30%...etc. The reverse is also true, when you see your portfolio explode upward, how will you react, how will you react?
Assume that the cycles last 4 years and follow the rhythm of the Bitcoin halvings.
Boris Link pinned «🏄♂️ Something essential to remember when starting out in trading is not to go against your instincts and emotional type. Each person has their own personality and trading will bring out some of your character traits, so it is essential to know yourself well…»
Forwarded from Glassnode
Our latest #Bitcoin onchain analysis report is live, this week focusing on The Price of Time.
We demonstrate how to use exchange flows, realized profits, and coinday destruction to assess profit taking by the market.
Watch more in our latest video report.
We demonstrate how to use exchange flows, realized profits, and coinday destruction to assess profit taking by the market.
Watch more in our latest video report.
YouTube
The Week On-chain: The Price of Bitcoin Time - Week 13, 2023 (Bitcoin Onchain Analysis)
🚀 Start your Glassnode Advanced free trial today: https://glassno.de/3QFXu0S
📟 Spotting Cycle Tops and Bottoms Dashboard: https://glassno.de/cycleextreme
🐻 Recovering From a Bitcoin Bear Dashboard: https://glassno.de/recoveringbear
♟️ Mastering MVRV Dashboard:…
📟 Spotting Cycle Tops and Bottoms Dashboard: https://glassno.de/cycleextreme
🐻 Recovering From a Bitcoin Bear Dashboard: https://glassno.de/recoveringbear
♟️ Mastering MVRV Dashboard:…
Daily Market Brief - 29.03.2023
Market glance
Total market cap / 24h chg: $1,179,314,404,699 / +3.98% 🟩
BTC Dominance / 24h chg: 46.10% / +0.00% 0️⃣
The crypto market is up today. Earlier this week the CFTC filed a lawsuit against Binance and its CEO Changpeng Zhao for allegedly offering derivatives to US customers without a license. This has spooked investors and brought prices down across the market, with Bitcoin hitting a 7-day low before bouncing back up today. Regulators are expected to keep an even closer eye on the sector, and interest rate hikes and the expectation of a softening economy are also weighing on risk assets.
Market glance
Total market cap / 24h chg: $1,179,314,404,699 / +3.98% 🟩
BTC Dominance / 24h chg: 46.10% / +0.00% 0️⃣
The crypto market is up today. Earlier this week the CFTC filed a lawsuit against Binance and its CEO Changpeng Zhao for allegedly offering derivatives to US customers without a license. This has spooked investors and brought prices down across the market, with Bitcoin hitting a 7-day low before bouncing back up today. Regulators are expected to keep an even closer eye on the sector, and interest rate hikes and the expectation of a softening economy are also weighing on risk assets.
Forwarded from Glassnode
We've just launched a powerful new backtesting suite for Workbench, designed to help traders, investors, and analysts improve decision-making, optimize trading strategies and portfolio performance, manage risk, and find an extra edge in the market.
Discover effective use cases and learn more about the backtesting feature at https://glassno.de/40kRwXc
Discover effective use cases and learn more about the backtesting feature at https://glassno.de/40kRwXc
Summary of the day, March 29
🇸🇻 Nayib Bukele published a vintage American-style poster listing the benefits El Salvador offers its citizens.
🛡 Trust Wallet has added Safety Snapshot, an encrypted cloud backup feature, a new feature that will allow the wallet to be restored in the event of loss of a seed phrase.
🇨🇳 Financial Times once again arranges FUD claiming that cryptocurrency exchange Binance has been hiding ties with China for several years.
👨⚖️ A prosecutor investigating Terraform Labs CEO Do Kwon for alleged passport forgery in Montenegro has indicated that he will not be extradited soon. The law enforcement official told South Korean media that Montenegrin authorities intend to indict Kwon within a month, ruling out the possibility of him being handed over to other countries within the detention period.
🇫🇷 On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial Prosecutor’s Office (PNF), the preliminary investigation into four French banks and one international bank began at the end of 2021.
⚖️ According to a recent white paper published by four members of the law firm Cooper & Kirk, PLLC, U.S. bank regulators are attempting to “drive crypto businesses out of the financial system.” The paper, titled “Operation Chokepoint 2.0,” claims that after laying the groundwork by labeling lawful businesses as “reputationally risky,” federal bank regulators, with the help of state officials, “turned to the task of purging their accounts from each of the banks subject to their supervision.”
--
Source: Taurus & DeCenter
🇸🇻 Nayib Bukele published a vintage American-style poster listing the benefits El Salvador offers its citizens.
🛡 Trust Wallet has added Safety Snapshot, an encrypted cloud backup feature, a new feature that will allow the wallet to be restored in the event of loss of a seed phrase.
🇨🇳 Financial Times once again arranges FUD claiming that cryptocurrency exchange Binance has been hiding ties with China for several years.
👨⚖️ A prosecutor investigating Terraform Labs CEO Do Kwon for alleged passport forgery in Montenegro has indicated that he will not be extradited soon. The law enforcement official told South Korean media that Montenegrin authorities intend to indict Kwon within a month, ruling out the possibility of him being handed over to other countries within the detention period.
🇫🇷 On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial Prosecutor’s Office (PNF), the preliminary investigation into four French banks and one international bank began at the end of 2021.
⚖️ According to a recent white paper published by four members of the law firm Cooper & Kirk, PLLC, U.S. bank regulators are attempting to “drive crypto businesses out of the financial system.” The paper, titled “Operation Chokepoint 2.0,” claims that after laying the groundwork by labeling lawful businesses as “reputationally risky,” federal bank regulators, with the help of state officials, “turned to the task of purging their accounts from each of the banks subject to their supervision.”
--
Source: Taurus & DeCenter
‼️ WE CLOSE DCRYPTO ‼️BUT LET'S KEEP IN TOUCH 🙏🥺
In life, you have to make choices. To do everything is to do nothing
Well... Let's face it... After a discussion with Doctor Crypto (https://t.me/DocteurCryptoYT), although we would like to create as much content as for SorareInfo. We do not and will not take the time for that. There is no lack of desire. But SorareInfo is doing so great, so we're going to put DCrypto aside.
If you want to follow the SorareInfo adventure, you can do so on Substack: https://sorareinfo.substack.com/
Otherwise, we'll see you soon on LinkedIn or elsewhere: https://www.linkedin.com/in/boris-nedeltchev/
Thanks to all the people who follow us and for your support. It warms our hearts, really 💙
Don't hesitate to send me a message on Telegram : @Boris_BlockchainSource, I want to keep in touch with you.
Take care and speak soon my friends 🤟
In life, you have to make choices. To do everything is to do nothing
Well... Let's face it... After a discussion with Doctor Crypto (https://t.me/DocteurCryptoYT), although we would like to create as much content as for SorareInfo. We do not and will not take the time for that. There is no lack of desire. But SorareInfo is doing so great, so we're going to put DCrypto aside.
If you want to follow the SorareInfo adventure, you can do so on Substack: https://sorareinfo.substack.com/
Otherwise, we'll see you soon on LinkedIn or elsewhere: https://www.linkedin.com/in/boris-nedeltchev/
Thanks to all the people who follow us and for your support. It warms our hearts, really 💙
Don't hesitate to send me a message on Telegram : @Boris_BlockchainSource, I want to keep in touch with you.
Take care and speak soon my friends 🤟
Boris Link pinned «‼️ WE CLOSE DCRYPTO ‼️BUT LET'S KEEP IN TOUCH 🙏🥺 In life, you have to make choices. To do everything is to do nothing Well... Let's face it... After a discussion with Doctor Crypto (https://t.me/DocteurCryptoYT), although we would like to create as much content…»
Bonjour à tous.
J'aimerais commencer par remercier tous ceux qui sont restés sur ce canal.
Il y a quelque temps, j'ai décidé d'arrêter DCrypto. Depuis, j'ai beaucoup plus de temps à consacrer à mes autres projets, et je suis donc très heureux de cette décision.
En particulier, j'ai eu plus de temps pour repenser mon Business Plan, développer le site web de SorareInfo (sorareinfo.com) et DConsulting (dconsulting.io).
Concernant mon auto-entreprise, MONSIEUR BORIS NEDELTCHEV, j'ai décidé de créer du contenu pour le grand public.
J'ai donc le plaisir de vous annoncer que ce canal a été rebaptisé (une fois de plus) et qu'il s'appelle désormais "Boris Nedeltchev".
Je communiquerai sur ce canal sur les principales nouvelles, je pense une fois par semaine au maximum, sur mes progrès, mes sujets de réflexion et les informations que je pense pertinentes à partager avec vous.
Voilà tout.
Merci encore de votre soutien et n’hésitez pas à m’écrire à @borisnedeltchev ❤️
Au plaisir de vous lire.
Sincèrement.
Boris
J'aimerais commencer par remercier tous ceux qui sont restés sur ce canal.
Il y a quelque temps, j'ai décidé d'arrêter DCrypto. Depuis, j'ai beaucoup plus de temps à consacrer à mes autres projets, et je suis donc très heureux de cette décision.
En particulier, j'ai eu plus de temps pour repenser mon Business Plan, développer le site web de SorareInfo (sorareinfo.com) et DConsulting (dconsulting.io).
Concernant mon auto-entreprise, MONSIEUR BORIS NEDELTCHEV, j'ai décidé de créer du contenu pour le grand public.
J'ai donc le plaisir de vous annoncer que ce canal a été rebaptisé (une fois de plus) et qu'il s'appelle désormais "Boris Nedeltchev".
Je communiquerai sur ce canal sur les principales nouvelles, je pense une fois par semaine au maximum, sur mes progrès, mes sujets de réflexion et les informations que je pense pertinentes à partager avec vous.
Voilà tout.
Merci encore de votre soutien et n’hésitez pas à m’écrire à @borisnedeltchev ❤️
Au plaisir de vous lire.
Sincèrement.
Boris