00:00:00: Bitcoin is moving towards a bear market and crisis mode at Ethereum is continuing.

00:00:07: Twenty percent of the foundation is being let go.

00:00:11: That and more in The Crypto Talk this week!

00:00:27: This video is not financial advice.

00:00:31: Focus exclusively on Bitcoin and Ethereum.

00:00:35: The main stories are happening there, sorry first of all for the lower quality this week mainly due to the heat wave.

00:00:42: I had to switch offices because hot news coming off the press, maybe The Bitcoin story right here and you can see it already in the price action.

00:00:56: Bitcoin vulnerable to further weakness as token tumbles emit tech route.

00:01:02: now of course the bitcoin prize we have experienced To go up to around eighty thousand then come down And we said that if I ran peace deal is through.

00:01:12: potentially the bitcoin price will rise.

00:01:15: Now Peace deal is kind of through not completely yet, but still the Bitcoin price doesn't want to increase substantially at all.

00:01:23: It actually corrects down and now it starts to behave like a tech stock once again.

00:01:29: obviously The stock market has corrected as well And we see that the bitcoin prize has dropped around three percent to round sixty two thousand four hundred Now, the main reason of course is the falling overall tech stock market.

00:01:45: But we also have kind of outflows in the ETFs and all of that just adds up to a very, very slow start off.

00:01:59: The summer for the Bitcoin price now if we jump to the chart We can see the following image right here were still kind of in the range but Now we're going towards the lower bound.

00:02:11: That means potentially If this lower bound breaks we might actually have to consider A lower price year probably at around fifty five two sixty thousand you dollars in an ideal case, but worst-case it might even drop lower.

00:02:26: However... There is still a risk or actually, potential of the Bitcoin price to rise if the P Steel is through and the market reacts positively in general because the P steel has been announced as kind of the memorandum of understanding.

00:02:42: However it has not be completely signed off now just yet.

00:02:47: so that means we're still in this range.

00:02:49: So you could actually trade the bounce at around sixty K and traded Just until seventy three K. That is of course very dependent on the piece still getting through.

00:03:00: If not, you might actually short this starting here towards around fifty three to fifty four thousand US dollars and everything below that I think we.

00:03:14: If this turns, however I still think the eighty thousand US dollars is still in play and a couple of weeks.

00:03:21: So ideally we will see exactly the balance here together with the P steel going through now while Bitcoin Ethereum is struggling even more.

00:03:31: Now, if we look at the ethereum stats in general a hundred seventy million US dollars of ethereum longs have been liquidated because the market is tumbling in general.

00:03:41: you can see already here The funding rate uh.

00:03:44: Is deeply negative once again as we've experienced in the last couple of days and weeks.

00:03:50: And interestingly, the Ethereum price dropped even more than the entire crypto market!

00:03:55: We can see here over thirty days...we have twenty percent of loss and seventeen percent just in a broader cryptocurrency market capitalization.

00:04:05: Now of course In the DeFi Market, Ethereum is still kind of the main platform The main player in the Defi Market actually on the ETF side also kind of going okay.

00:04:20: It's not really very positive, but at least it's not deeply in the negative as we've experienced a couple.

00:04:37: And that of course is not really kind of good news, although you could say the restructuring might help Ethereum to find back its roots.

00:04:47: Now, Ethereum is focused very much on the topics of privacy and scaling and decentralization but at the same time price has always been a lower priority.

00:04:58: A lot of Ethereum.

00:04:59: investors are just in general disappointed by Ethereum.

00:05:04: Now, if we jump into the price.

00:05:06: We can see why a prize kind of max-price point around one thousand five hundred has been reached already a couple weeks ago.

00:05:14: and now The big question is will we reach it once again?

00:05:17: And Will It coincide with ideal bounce?

00:05:21: because If it doesn't bounce then we might be in for a three digit Ethereum that might come fairly soon.

00:05:28: And if we are just generally looking at the Ethereum ecosystem again, The Ecosystem is not really happy with the foundation.

00:05:35: so ideally With this kind of restructuring of the Foundation We will see ethereum Come back to its old shine and to it's old kind of price point Of around five K. That was from the crypto talk This week.

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00:05:52: I'll see on next Next

00:05:58: one, have a good one.