Qrafty sees Bitcoin @ $38,000 while US bans CCP blockchains and BlackRock registers new ETH trust!

***Qrafty smiling the biggest smile*** Aloha, crypto curious! I am Qrafty - the crypto lovin’ honey badger 🦡 !

Welcome to Coinqraft – the daily crypto newsletter for busy but curious people who don’t have time for the crypto drama!🌟

🦡   Qrafty is back with juice and news crypto jungle, so let’s dive in 📰 🌟

1. Bitcoin @ $38,000

2. US Bans China Blockchains

3. BlackRock Registers Ethereum Trust

Bonus: Jump Crypto Under Investigation

Bitcoin @ $38,000

Look who's got that ear-to-ear grin—Michael Saylor! He's practically radiating confidence, and who can blame him? His Bitcoin investment is sitting pretty at a cool $1.2 billion in profit. That would put a relentless smile on anyone’s face, wouldn’t it?

Bitcoin, on the other hand, is playing a thrilling game, touching $38,000 today and gearing up for the sprint towards that 40k - 42k range. Or maybe it wants to breathe a bit and range. This would allow Ethereum to catch up a bit, as it was left in Bitcoin’s dust. Ethereum is looking strong on the daily, weekly and BTC pair and seems to want to go higher from here.

Meanwhile, the US is slamming the door on federal entities mingling with Tether (USDT), iFines, or Chinese blockchains. SBF has been found guilty on all counts, but he can talk about his knowledge on USDT or DCG to get a break on his sentence. For him, it's a high-stakes game of information exchange.

DCG creditors are also making their move, having a tête-à-tête with the EDNY and hinting at fraud. Barry Silbert, CZ, and USDT folks better have their game faces ready as they might face US authorities.

Moody's dropped a bombshell, estimating that the big banks are sitting on a whopping 650 billion in unrealized losses. Also, WeWork is planning to ditch leases on 70 properties in the Big Apple. Could this be the pebble that sets off an avalanche in the commercial real estate market? Keep an eye on this one, folks. Retail markets might be stealing the show, but is commercial really as solid as we think? Something to ponder.

Banks are tightening their purse strings, and credit card debt is soaring to record heights. Meanwhile, inflation's not exactly in a hurry to take a breather. It's a financial rollercoaster, and the twists and turns just keep coming!

ETF approvals? Yep, that's on the horizon. But here's the million-dollar question: will the government be hitting the brakes on the 17th?

The world is going crazy. Halving is coming.

Huzzaaaah!

🙃 Qrafty hopes that today’s main story brought brave badgery value to you! Now it’s time for a break, you deserve a bit of fun! 😇 👇️

BlackRock Registers Ethereum Trust in Delaware

BlackRock is causing some serious ripples again in both the crypto and tradfi jungles. They had everyone buzzing when they announced their filing for the spot Bitcoin ETF with the SEC this year. If it gets the green light, it'll be the first exchange-traded fund of its kind in the good ol' USA.

But BlackRock's not stopping there. They've got their eyes on the digital asset world, and they've gone ahead and registered an Ethereum Trust in Delaware.

The speculation has been swirling about BlackRock potentially filing for a spot Ether ETF. When (not if) that day comes, it's going to be a seismic shift, firmly establishing their position in the industry. This isn't just a PR stunt, it's a testament to their confidence in the long-term potential and influence of these assets.

And the ability of those assets to make a lot of money for the fund. Remember that 😉 

Gensler: Securities Laws Are Fine For Crypto

Just last week, the verdict came down like a ton of bricks, finding Sam Bankman Fried guilty on all seven counts, including the heavy hitters like fraud and money laundering. Not exactly the kind of news you'd want to shout from the rooftops.

There's talk of a phoenix-like comeback for FTX, but only if the new captain steers the ship with a rock-solid understanding of the law.

Gary Gensler dropped some hints about Tom Farley, a heavy hitter from the New York Stock Exchange, potentially being in the running. Farley launched his own digital asset exchange in May called Bullish, which is reportedly one of the final contenders in the bankruptcy auction.

So yeah, it’s possible FTX is revived without Sammy.

US Sees China’s Crypto Steps

In a world where blockchain battles brew and crypto villains plot, the U.S. government has assembled its very own squad of heroes. The Secretary of the Treasury, Secretary of State and the Director of National Intelligence – the Avengers of bureaucracy.

Their mission? To tackle the rising tide of foreign adversaries in the blockchain realm. Tat- da - da - daaa! 🦹‍♂️

The story begins with the TikTok ban for government employees. Why? Rumors swirled that the Chinese Communist Party was sneakily spying on Hong Kong activists through ByteDance's secret "backdoor."

So, U.S. Representatives Zach Nunn and Abigail Spanberger unveiled the CLARITY Act, and it's not about your eyeglass prescription. It's a mission to safeguard Uncle Sam's national security secrets and your digital privacy. Cue the dramatic music!

Their target? China-based blockchain bigwigs like iFinex, the parent company of Tether, The Spartan Network, The Conflux Network, and Red Date Technology Co.

This is pretty huge. If it affects Tether negatively, it will create ripples in the entire market, as the whole market is mostly propped by USDT. Think about USDT as the vehicle to roam around on the digital jungle highways, while USDC is your way in and out from the real world to the crypto jungle.

The CLARITY Act is like a giant "No Entry" sign for federal business with Chinese blockchain firms, especially iFinex and USDT.

Who will gain from this move? Well, it’s pretty obvious that this is a cleaning operation ahead of ETF approvals. Deep cleaning operation. The winners will be CBDC’s, of course. And PayPal’s PYUSD or Coinbase’s COIN. And USDC, duh!

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The future is so bright; I have to wear shades to protect my eyes from the glare of my own brilliance.

Qrafty’s thought of the day

Other stories

Former Cantor execs launch crypto platform

Tokenet has expressed its readiness to cater to an anticipated surge of institutional clients, potentially stemming from the approval of a spot exchange-traded fund (ETF) in the United States. This platform has been introduced by a group of executives who previously led the financial services company Cantor Fitzgerald.

Cathie Wood Loves ETFs

Cathie Wood has revealed that Ark Invest is set to partner with 21Shares to launch an innovative range of exchange-traded funds (ETFs). These ETFs aim to offer investors a diversified portfolio encompassing digital assets, such as Bitcoin and Ethereum futures contracts, along with investments in companies associated with blockchain technology. Also, Ark Invest has bought $9.5 million in Robinhood shares.

Jump Crypto Under Investigation by the SEC

Last month, the SEC's legal team conducted a deposition of Kanav Kariya, the president of Jump Crypto, a major player in the crypto market-making space. They inquired specifically about whether the firm had committed to reestablishing the peg of Terra USD (UST) to the U.S. dollar by acquiring substantial quantities of the algorithmic stablecoin in May 2021. In response, the president of Jump Crypto invoked the fifth amendment.

Market Whispers

Well, well... what a day! Bitcoin just made a new year high reaching $38000 - $38500 (depending on the exchange). Yes, yes, I know it's very exciting but, as always, Qrafty is here to tell you to be cautios.

Why this time? I made two charts for you today. The first one is a daily chart and shows a channel that keeps Bitcoin "in line" for the past few months. And the reason to be cautions is that today it reached the higher range of the channel.

Now, Qrafty doesn't say it can't break it, but until we see that range high of the channel turned into support we have to pay attention. Even a small push up higher, to $40k - $42k could be a deviation if it gets back inside the channel afterwards. So, now that we cleared that up, we have the next higher targets at $40k and $42k.

On the second chart, on the lower timeframe price action, if it goes down from here, ideally we want to see $36k to hold support. The only problem with that level is that we have some good liquidations at $34,900 - $35,200 to take.

So these are the targets for the downside. If these levels hold, we have another chance to long it. The trend is still bullish, keep that in mind when playing with shorts.

Ethereum finally reached $2,000! 🥳 For the first time in years Eth is looking better then BTC, on daily and weekly. Even ETH/BTC looks good! That means that BTC can range a bit here so alts can have a party of their own? Qrafty excited!! Even more excited when looking at alts today making 15-20% candles to the downside. Is time for a chart scan to see what alts managed to stay above the old gloomy bear market range. Those will be good to play with.

Next target for ETH is $2,100.

Qrafty ends channeling his inner trader.

Today is INTERNATIONAL ACCOUNTING DAY!

That’s all from Qrafty 🦡 for today! Qrafty thanks you and wishes you to live each moment as if you are listening to the music you love most!

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