Week 17 | 4/25/22 - 4/30/22
By Matthew BrienenNews Flash
Monday 4.25.22: Grayscale has made a fresh attempt to win approval from the US securities watchdog to turn the world’s largest crypto investment vehicle into a fund that trades on major Wall Street exchanges. Grayscale’s manoeuvre comes as the SEC is deliberating over whether to give the go-ahead for US exchange traded funds to hold bitcoin, rather than derivatives linked to the cryptocurrency, for the first time.
Tuesday 4.26.22: MicroStrategy (MSTR) plans to offer its employees access to bitcoin (BTC) retirement plays through Fidelity’s new bitcoin 401(k) service. Earlier Tuesday, Fidelity said it would give corporations who use its retirement savings rails a bitcoin investment option later this year. Fidelity is one of the largest 401(k) providers working with 23,000 corporations.
Wednesday 4.27.22: The Central African Republic has overtaken regional cryptocurrency front-runners such as Kenya and Nigeria to become the continent’s first nation to officially adopt bitcoin as legal tender. The CAR parliament unanimously passed a law in favor of the adoption of bitcoin, driven by the need to solve currency and exchange rate challenges.
Thursday 4.28.22: Swedish startup Bitrefill, best known for its marketplace letting users spend their crypto on gift cards and mobile top-ups, today announced that its Pay Bill service is now available to users in the U.S. The service works for credit card bills, utilities, auto loans, healthcare, mortgage, and social security payments, with integrations through T-Mobile, American Express, State Farm, Wells Fargo, United Healthcare, and Liberty Mutual, among others.
Friday 4.29.22: Binance blocked accounts tied to Polina Kovaleva, the London-based stepdaughter of Russian Foreign Minister Sergei Lavrov, and Elizaveta Peskova, the daughter of President Vladimir Putin’s spokesman Dmitry Peskov, in recent months. Earlier this month, Binance updated its sanction policy days after installing Chagri Poyraz as its new director of sanctions compliance. Poyraz previously led the anti-money laundering and sanctions programs at South Korea’s largest online marketplace, Coupang.
Join our new [Discord Community](https: //dashboard.cryptocharged.com/community/) today!
Bitcoin Technical Recap
BTC started the week with a recovery candle towards the $40k region and closed over the 61.8% on our micro fib range. This was short lived, as price was unable to reclaim $40k as support, price fell to the 70.2% support level @ $37.5k. We can also see this is lowest bound of BTC's bear flag that is still being produced.
BTC/USD Daily Chart
BTC/USD Daily Chart (Inverse Fib Range)
Ethereum Technical Recap
ETH took a beating into the weekend as well, falling out of its ascending channel to test the 61.8% fib @ $2,700. Price may want to dip lower towards its inverse 70.2% level @ $2,580 before reversing higher. Many altcoins saw losses as well following ETH's lead. Most other alts have found support and the lows they've held for a year or more, which is optimistic.
ETH/USD Daily Chart
Project Breakdowns & Daily Update Recaps
Didn't catch all the daily update streams? We've got you covered with highlights & links to the full episodes. Monday 4.25.22: Matthew Brienen discusses an update on the SEC v. Ripple Labs case, Twitter accepting Elon Musk's $44 billion takeover bid, and the Instagram account of Bored Ape Yacht Club being hacked. Brian Decker offers an overview of Arweave and its permanent storage service.
Tuesday 4.26.22: Brian discusses Etherscan and takes a look at some of the most prominent accounts with large Ethereum holdings. Matt breaks down some headlines including Fort Worth's vote to allow the city government to mine Bitcoin, MicroStrategy's decision to offer Bitcoin retirement plans to employees, and Fidelity's new 401(k) offering that include Bitcoin investments.
Wednesday 4.27.22: Chase Tantalo welcomes Adam Andrews, Founder of Just Cubes NFT, to talk about the future of NFTs, their importance, and the power of strong communities. Matthew provides an analysis of the cryptocurrency market and coins on which you could build positions right now.
Thursday 4.28.22: Dan Habib delivers one of his best presentations to date, covering inflation, the likelihood of a recession in the coming year, and a technical analysis of Bitcoin and its correlation to the NASDAQ. He also analyzes on-chain analytics, the Bitcoin mean Hash rate, and the Bitcoin adoption forecast.
Friday 4.29.22: Brian starts today's show with some words of encouragement, as it is a difficult day in the crypto market; he also showcased Instadapp Lite: the simple way to earn 9% on Ethereum. Matthew discusses Nexo Token's brief rally following Binance listing, Binance blocking newly sanctioned Russians, and an overlooked tweet by CoinMarketCap criticizing XRP.