It’s a big week for stocks, Bitcoin, Ethereum, and cryptocurrencies in general, as Jerome Powell and his Fed pals decide whether to bang on a Santa suit or throw a chunk of coal into the market.
Meanwhile, FTX founder Sam Bankman-Fried, aka SBF, was reportedly arrested in the Bahamas. See below for details.
The final Federal Open Market Committee meeting of the year will be held December 13-14 at the YOO ESS in EH (Washington, DC).
And I really thank Christ for that.
But will this time be different? 75 basis point hikes in the last four rate hikes have contracted the market, but many prospective traders and investors are expecting a slowdown to 50 basis points, if not a ‘pivot’. . It’s only possible if his December 13 US CPI data figures show US inflation continues to ease somewhat.
But it’s not just numbers. I also look forward to Fed Chair Powell’s press conference and tone. Let’s hope his voice is good. Maybe we’ll see Bitcoin rise to infinity…well, over $18,000. Yes, maybe.
SBF Arrested, Kwon Dokwon… Serbia?
Former FTX boss Sam Bankman-Fried has just been arrested and taken into custody by Bahamian police, according to Reuters.
Bahamian authorities have reportedly received formal notice of criminal charges against him from the United States. The actual price has yet to be revealed.
USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the US government based on a sealed indictment filed by SDNY. We plan to open the indictment in the morning, and we will have much more to say at that time.
— U.S. Attorney SDNY (@SDNYnews) December 12, 2022
Earlier today, SBF said in a Twitter Spaces chat that he would not be performing. directly at a House committee hearing this week in the US capital.
And that was apparently due to the “paparazzi effect” his presence caused. Yeah he always has everyone’s best interests in mind and again, maybe he wanted to dial in while playing League of Legends. , may be his Overworld beta release of Illuvium’s new.
SBF has confirmed that he is currently playing video games on Twitter Spaces.
So many people lost a lot with his FTX scam. He plays video games in the Bahamas and gives half-baked answers to some of the most important questions people have.
— Benjamin Cowen (@intocryptoverse) December 12, 2022
📰 SBF officially arrested in Bahamas 🚨
does this show the bottom #bitcoin???
— Kevin Svenson (@KevinSvenson_) December 12, 2022
Bankman-Fried said in an interview at the New York Times’ Dealbook Summit on November 30 that he “never attempted fraud” and personally does not consider himself criminally responsible. added.
Meanwhile, another “much-loved” crypto industry figure, Do Kwon, is the founder of the Terra Luna project, who was seen as largely responsible for its demise earlier this year. person and seems to be currently in Serbia.According to Korean online publication Korea.
Kwon has been something of a cryptocurrency fugitive since the fall of Terra, being pursued worldwide by South Korean authorities and Interpol. Meanwhile, he continues to appear on his Twitter and weird podcasts, giving interviews here and there, commenting on SBF and he FTX.
For example, in a Twitter thread, he suggests that FTX’s sister company, Alameda Research, was involved in a premeditated financial attack that led to the collapse of the Terra ecosystem stablecoin UST.
What was done in the dark will come to light
— Do Kwon 🌕 (@stablekwon) December 8, 2022
James Bond, Jason Bourne and Bitboy Crypto headed to Serbia to confront him in Serbia, angrily demanding a refund and being turned down by security staff while generating many clicks on social content. probably.
Top 10 Summary
According to CoinGecko, the overall cryptocurrency market capitalization is US$886 billion, pretty flat from this point yesterday, and here’s how the top 10 tokens stand today:
Bitcoin and buddies have indeed recovered since this time yesterday.
BTC was below US$17,000 for most of Monday, but likely Potential With the Federal Reserve’s slowdown in rate hikes this week, some in the market are believing a year-end rally.
That certainly wasn’t the case in December 2021 (-18.75%), but past performance is no indicator here. In fact, forget I even mentioned it.
Two very different takes from two very different Crypto Twitter traders/analysts:
#bitcoin It’s in resistance now, but it’s a good bounce and a pretty decent daily candle across the market.
Fire tomorrow and Wednesday. pic.twitter.com/NkxkHCs2rm
— Michael Van de Poppe (@CryptoMichNL) December 12, 2022
Volume is severely lacking in this pushup from 15.5k. Looks like a dead cat bounce retesting the previous support level 17.5-18k.
MACD/RSI looks for reset for another leg down. MACD bear cross in action.
The HTF chart looks ready to be dumped.#bitcoin #cryptocurrency #crypto trading pic.twitter.com/I6W1JH4VDB
— Roman (@Roman_Trading) December 12, 2022
Upper and Downer: 11–100
Let’s wipe out the rest of the top 100 market cap range of about $6.1 billion to about $329 million and find some of the biggest 24-hour gainers and losers as of this writing. (Accurate stats at time of publication based on data from CoinGecko.com.)
• stack (STX), (Market cap: USD 422 million) +9%
• Bitcoin SV (BSV), (MC: USD 900 million) +7%
• GMX (GMX), (MC: $489 million) +6%
• dash (DASH), (mc: $539 million) +4%
• Lido DAO (LDO), (mc: US$861 million) +3%
• trust wallet (TWT), (market cap: USD 981 million) -11%
• Axie Infinity (AXS), (Market Cap: $880M) -4%
• Chile (CHZ), (mc: $739 million) -4%
• paper (XTZ), (MC: USD 874 million) -3%
• apartment (APT), (mc: $588 million) -3%
around the block
Some of the randomness and relevance that stuck in our minds this morning travels through the Crypto Twitterverse…
Some commentary on the SBF arrests is already coming in…
SBF really provided us with a lot of content for the inevitable documentary. It should be a blockbuster.
— Dennis Porter (@Dennis_Porter_) December 13, 2022
— Frank Chaparro (@fintechfrank) December 13, 2022
FTX’s inner circle of powers formed a chat group called “Wirefraud” and used it to send confidential information about the company’s operations leading up to its epic failure.https:// t.co/4nlXcFcdaS pic.twitter.com/pHmAobtjQ0
— Decibel (@tier10k) December 12, 2022
Physical should be the worst. It sounds wrong. It’s like a fidget, but mashed up in the worst possible way. Apein or apein is another term with a bad connotation. It just makes us all sound like gamblers (we are, but don’t tell normal people lol)
— CryptoJay 🇦🇺🔮🧱🦉 (@0xCryptoJay) December 12, 2022