When Bulls Return: Crypto Onramps Poised for Action
Written on
Chapter 1: Market Overview and Developments
The cryptocurrency landscape is gearing up for a resurgence as fiat onramps become more accessible, despite recent setbacks from bearish trends. There are ongoing discussions regarding possible delays in rate hikes, which could further influence market dynamics.
Recent developments indicate that the cryptocurrency market is overcoming significant barriers related to the integration with traditional finance. Various organizations are actively working to streamline this process for users.
Reflecting on the last two years, the crypto market witnessed a notable bull run, with approximately $1.4 trillion flowing into the ecosystem since the last Bitcoin halving in May 2020. This influx is particularly impressive considering the limited options available for converting fiat currency into crypto. Apart from a few exchanges and Bitcoin ATMs, adequate onramps were nearly nonexistent. However, as regulators begin to accept cryptocurrencies more broadly, the onramps are improving across the board. This evolution raises the question of how quickly and how much liquidity will enter the blockchain when bullish sentiment returns.
One significant development is the Romanian Central Bank's approval of Elrond Network's acquisition of Twispay, an e-money institution. This strategic move aims to strengthen the bridge between traditional finance and cryptocurrency across Europe.
Additionally, global payment powerhouse Stripe has teamed up with Crypto Exchange FTX to develop payment processing solutions for Bitcoin and other cryptocurrencies. Stripe's support for 45 fiat currencies could lead to innovative applications that allow users to manage payments, settle bills, earn interest, and conduct transactions seamlessly.
Section 1.1: Market Sentiment
The narrative surrounding delayed rate hikes is gaining traction, and it will be intriguing to see if this narrative influences the Federal Reserve's decisions regarding interest rate adjustments in light of ongoing geopolitical tensions.
Subsection 1.1.1: Current Market Metrics
Section 1.2: Recent Price Movements
Bitcoin's (BTC) recent surge following the favorable reception of President Biden's executive order has been reversed, with the price dropping back into bearish territory. Despite this, increasing trade volume suggests that accumulation is happening, with BTC closing down -5.77% at around $39,200.
In a surprising twist, ZCash (ZEC) has bucked the overall market trend, rising by +31% to $155.98, fueled by heightened demand for privacy among Russian citizens. However, the sustainability of this momentum remains uncertain.
Chapter 2: Notable Trends and News
This video discusses the indicators that could signal the end of the current crypto bull market. It provides insights into market trends and what investors should prepare for as conditions change.
This video explores the predictions surrounding the crypto bull market potentially ending before December 2024. It delves into expert opinions and market analyses that could impact investment strategies.
Recent legislation from US GOP senators titled "Say No to the Silk Road Acts" aims to counter the introduction of the Chinese digital Yuan. Concerns are growing over the potential use of this CBDC to circumvent future sanctions, prompting the bill to require warnings from the State Department regarding its implications.
US inflation has reached a near-consensus estimate of 7.9%, marking a 40-year high. While this has led to relative quiet in traditional markets, analysts continue to voice their concerns.
Moreover, the Hedera HBAR Foundation has launched a $100 million Sustainable Impact Fund aimed at enhancing environmental markets and promoting global sustainability on the Hedera network.
In a philanthropic effort, OnlyFans has donated 500 ETH to UkraineDAO to support humanitarian aid during the ongoing conflict.
My Take
The narrative of inflation is well-known, and the challenges for the Federal Reserve may intensify before conditions improve. While the market remains resilient, crypto entities are laying the groundwork for future bull runs. The pivotal question remains: Are you prepared for the next market shift?
Thank you for reading Crypto Brew. Wishing you a fantastic weekend!
Gabri
Follow me on Twitter and Medium or subscribe to this FREE daily newsletter on Substack. Join the Coinmonks Telegram Channel and YouTube Channel to deepen your understanding of crypto trading and investment strategies.