Last Friday, the SEC delayed Ark Invest’s decision while not confirming or rejecting its spot Bitcoin ETF decision.
Good week everyone. While the annual CPI on the US side increased by 3.2% on Thursday last week, below the expectations, the Core Consumer Price Index, which excludes food and energy and which is the most important indicator used by the Fed in inflation, was announced as 4.7%.
On the other hand, Fitch Ratings, the international credit rating agency, downgraded the long-term credit rating of the USA from “AAA” to “AA+” and changed the outlook from negative to stable. Thus, the credit rating of the USA was lowered for the first time in 12 years.
You can see the dates of Bitcoin spot ETF applications prepared by Bloomberg with the tweet I quoted from the Coinkolik Twitter page:
#Bitcoin spot ETF başvurularında kritik tarihler…
Via: @TheBullduck pic.twitter.com/eAB7IwOKl1
— Coinkolik (@Coinkolik) July 14, 2023
We will receive the Minutes of the Federal Open Market Committee (FOMC) Meeting Wednesday this week. The minutes will be a guide for us regarding the decision to be taken by the Fed at its September meeting.
Economic Calendar
Tuesday, August 15, 2023
It will be listed on SEI Bybit, Gate.io, MEXC, Bitget, KuCoin, Kraken.
CYBER is listed on the Binance exchange.
Wednesday, August 16, 2023
UK – Consumer Price Index (CPI) (Annual) Expectation: 6.8% Previous: 7.9% – 09.00
USA – Federal Open Market Committee (FOMC) Meeting Minutes to be Released – 21.00
Thursday, August 17, 2023
USA – Applications for Unemployment Benefit Expectation: Previous: 248k – 15.30
Friday, August 18, 2023
Euro Zone – Consumer Price Index (CPI) (Annual) Expectation: 5.3% Previous: 5.5% – 12.00
Bitcoin Technical Analysis
Bitcoin continues to move sideways between the $29,400 – $30,400 levels. Unless the candles close above the 30.400 levels indicated by the blue line on the daily chart, it will not be possible to move to the next stop of 31.400 dollars. For the downward movement, if there are candle closes below the 28.400 level, the price will tend to decline towards the 25.750 – 24.500 dollars levels indicated by the green box.
Bitcoin Perpetual Futures Contract Clearing Volume
Derivatives volume consists of the total dollar amount traded in 24 hours for perpetual swap contracts on top exchanges. Total volume is calculated by multiplying the total number of contracts traded by the dollar value of each.
As with spot markets, derivatives volume can act as a sign of trend strength of price action. For example, on October 20, 2020, when Bitcoin reached $12,000, high derivatives volume was seen, indicating a strong belief among traders that the price will rise.
Last Week’s Top Rising Cryptocurrencies
- Rollbit Coin (RLB) 53.6%
- THORChain (RUNE) 48.5%
- Pepe (PEPE) 17.6%
- Toncoin (TON) 16%
- Shiba Inu (SHIB) 9.6%
Featured Cryptocurrency News of the Last Week
SBF jailed before trial
The 31-year-old former CEO of FTX, Bankman-Fried, manipulated multiple files, violating the terms of the bond, according to the US Department of Justice. It was stated that Bankman-Fried had contacted former FTXUS general counsel Ryne Miller and watched the Super Bowl over a virtual private network, according to the defense team, and these actions led to his detention again for violating bail conditions.
Coinbase’s network Base has reached 136,000 active users!
In a post published Aug. 10, data platform CryptoRank stated that Base ranks 4th after zkSync Era, Arbitrum and Optimism in daily transactions in layer-2 solutions. The Coinbase network, which closed in the fourth place in such a short time and exceeded 136,000 active users, continues to surprise with its data.
SEC delays Ark Invest’s spot Bitcoin ETF decision
The SEC announced in the Federal Register that it has started a 21-day comment period for the ARK 21Shares Bitcoin ETF. This period is a recognized period for the public to voice their opinion on the ETF. ARK Investment Management first filed its application in May, giving the SEC up to 240 days to make a final decision. This decision is expected to be taken by January 2024.
Curve Finance continues to recover stolen funds
Curve Finance has successfully recovered 70 percent of the approximately $50 million in funds lost in the recent cyberattack, greatly reducing concerns among users and partners.
Funds from the attack that took place were either returned by different hackers directly involved, or recovered through ethical operators of MEV bots, eg c0ffeebabe.eth.
SEC settles with Bittrex and its former CEO
In the August 10 announcement, the SEC said that Bittrex and Bittrex Global agreed to pay $14.4 million in liquidation, $4 million in pre-order interest and $5.6 million in civil penalties to settle the legal dispute with the federal regulator. The agreement must be approved by the court.
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