Weekly Web3, Crypto & NFT Market Update – 27 Jun 2023

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Ralph Chua is a publisher. He is passionate about NFTs and blockchain technology. This website is curated with content from his favorite source of information. He created this website with the intention to stay up to date with the ever-evolving and groundbreaking NFT industry.

Let's jump straight into it with your Market update has been a very eventful Seven days and starting off just with The S P 500 NASDAQ American Stock Exchange and this is a seven day Performance so the last week because our Last show was exactly a week ago and as You can see the markets have pulled back Slightly overall in the last seven days They've had an incredible run I mean the NASDAQ is up 40 year on year that's Actually made up of about eight or nine Socks that I've really boarded up but Either way there's been a great year on The markets normal to have a bit of a Pullback so with the exception of a Couple of shares here meta is up on the Week one percent Um one and a half percent Amazon is up 1.27 we've got some healthcare and Lily Johnson and Johnson's app but overall Everything is down United Health up two And a half percent otherwise everything Is done but not too bad Um as far as percentage of guys Berkshire down 1.6 JP Morgan down three Percent Microsoft down four and a half Percent and the video is similar about We're seeing the sort of pump that Happened from the AI side slowly pull Back but remember that pump led to the Video they're going almost to 5x so There's always going to be a bit of a Pullback we've got Google down three

Percent but overall the markets are Doing incredibly well but it's been a Red week definitely however if you look At our friends at crypto we have had a Green week that's been amazing so if you Look at the last seven days which is What you're looking at now we've got Bitcoin up 16.4 percent sitting at a Thirty thousand six hundred dollars Which is very close to the 2023 High Um 2023 highs around Thirty one thousand Dollars so really the highest it's been This year currently Um you're looking at each just under 1900 and across the board you're seeing A lot of green the only one that's down Is BNB obviously see a lot of fear Around Finance because of the SEC Especially abundance us I think most People are of the consensus that Finance U.S is is definitely going to have to Close down or come to some sort of deal With the SEC whereas binance worldwide Will continue as is and coinbase is Really going to be your big player in The US that seems to be the consensus But with the exception of that Absolutely everything across the board Seems to be app if we just look at our Bubbles which is a nicer way to see it You can see we've done it weekly we've Got the biggest gainer this week Bitcoin Then Bitcoin cash at 80 up then we've Got our friends Pepe the mean coins

Cigars are hungry for dejan and we've Got Stacks up 30 percent we've got Gala Games up 12 they really dropped in the Last uh if you look at gala in the last Month I just want to show you you can See here I mean yeah they have recovered Somewhat but they've really really Dropped from where they were They were 0.03 and they are now they've Pretty much come back it's amazing Amazing amazing Um yeah so a great a great time on Crypto if you want to understand why What is actually going on here why are We having these pumps in crypto you know We all know what happened last week when We spoke on the show about the SEC and What's going up and and what's going on There was causing everything to go down And what has caused the surrounding and I think most people will agree and Understand that BlackRock filing for a Spot BTC ETF in the United States was really the The Catalyst to this so BlackRock is by Far the biggest Um in the states and the fact that They've filed for a Bitcoin ETF almost Is an unspoken agreement that it's going To happen it's almost a not that Congress is going ahead with it the SEC Okay did you hear I I just heard this in My Discord by the way and if anyone Wants to get in my Discord just pick up

A Joy's Kingdom torch but someone on my Discord told me that it was approved So it seems to be that it that it hasn't Been announced but it seems to be that It is the proof because the the Consensus is that BlackRock has inside Information they've been given a not Bibles Congressman Um and the SEC also wants to appear to Be less Um like they hate crypto because they've Got to be impartial at the moment They're not being impartial and by Allowing BlackRock who is massive to Have a Bitcoin ETF that can maybe in Some way make the SEC look a little bit Less like their targets in crypto I Think everybody agrees that Bitcoin um Is is not a security so if anything's Got a chance of going through this does It does seem to have the prevalence Since then we've seen quite a lot of ETF Filings Um from different companies which also Makes it seem like Um they're going to be approved Including greystyle who's been trying For a while but BlackRock is by far the Largest asset manager they've got over 8.5 trillion dollars in assets under Management and they also have said that They're going to utilize Chrome advice To Cassidy the Bitcoin Um through this ETF so ETF is just a

Tracker that allows people to bet on Whether it's going to go up or down Um and and yeah it's it's quite bullish For the space and has really been Something that has caused this little Run that that we've seen Um so we also had your own power Testifying before Congress on Friday Um and he he clearly said that he feels That crypto is not going away Um he was asked does he feel their Crypto is going away so it's not like he Volunteered that but he does Clearly say That he doesn't feel that it's going Away so that was also quite British for The space so overall those are the two Main reasons that we're seeing this You'd also obviously expect that you Know just when Bitcoin drops so badly a Lot of people who were long got eaten Yeah a lot of people were short the General consensus four or five days ago Was that crypto was in trouble in the Short term yeah and so a lot of people Had Bitcoin shorted so it's possible That a lot of those just got eaten up And that could also be accounting for This Um or at least a part of this Raz either Way we've got an incredible week on Bitcoin and incredible week on ethereum And on crypto overall and it's something That I think we should definitely be Celebrating and something we should be

Happy about

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