Week 36 | 9/6/22 - 9/10/22
By Matthew BrienenNews Flash
Monday 9.5.22: The Australian Federal Police has set up a dedicated unit for tracing and seizing cryptocurrency linked to criminal activity, operating as part of its Criminal Assets Confiscation Taskforce (CACT). The crypto unit, set up in August, has a dual role of targeting assets as well as “providing that valuable, investigative tracing capability and lens for all of our commands,” said Jerga.
Tuesday 9.6.22: Russia's biggest news agency quoted Moiseyev saying that Russia is working to “create bilateral platforms” with “tokenized instruments” to avoid using U.S. dollars and euros. “We are currently working with a number of countries to create bilateral platforms in order not to use dollars and euros,” Moiseyev said. “Stablecoins can be pegged to some generally recognized instrument, for example, gold, the value of which is clear and observable for all participants,” he added.
Wednesday 9.7.22: Bankrupt crypto broker Voyager Digital will be auctioning off its remaining assets next week, a court filing confirmed on Tuesday. Bidders hoping to snap up the company’s holdings have already submitted offers, after the deadline for doing so was extended to from Auugst 26 to September 6.
Thursday 9.8.22: A group of Tornado Cash users filed a lawsuit against the U.S. Department of Treasury, calling its sanctioning of the EthereumEthereum mixing service an "unprecedented, overbroad action." The suit, which is being funded by Coinbase and includes several employees as plaintiffs, also names Treasury Secretary Janet Yellen and Director of the Office of Foreign Assets Control (OFAC) Andrea Gacki.
Friday 9.9.22: The United State’s oldest dictionary publisher is making room for crypto. Of the new terms added, “altcoin” and “metaverse” are perhaps the most relevant additions for crypto enthusiasts.
Technical Recap
Bitcoin cracked deeply below $20,000 once again touching as low as ~$18,500. Since then, price has rallied towards ~$22,400, a 20% increase. We are seeing a shallow floor off support being built around the previous 2018 high. Next levels we need to be concerned with are $24,000 & $28,500. This are key resistance levels that could send BTC back down if unable to hold as new support.
BTC/USD Daily Chart
CryptoCharged Live Show Recaps
Tuesday 9.6.22: Brian Decker discusses the launch of Ethereum's 'Bellatrix' upgrade, Russia's work on cross-border stablecoin platforms, and how the crypto investment slowdown will continue in 2022. Decker also compares Monero and Zcash, highlighting their similarities and differences as well as sharing some short-term opportunities to capitalize on volatility.
Wednesday 9.7.22: Dan Habib provides a technical analysis and discusses why Bitcoin is more valuable than the current monetary system in the United States. The team also discusses theFed's actions, commodity price declines, and inflation expectations for the coming months.
