Meta and Instagram To Allow Users To Create, Display And Sell NFTs — link

El Salvador plans to provide low-interest Bitcoin-backed loans to SME

Nayib Bukele, dubbed the “CEO of El Salvador,” is pushing the envelope by implementing Bitcoin as a legal tender in the real world. The Salvadoran government is attempting to develop a Bitcoin-backed credit product for micro and small companies around the country.
As a result, small and micro-businesses will be able to qualify for low-interest loans secured by Bitcoin in the near future (BTC).

MicroStrategy’s Bitcoin accounting to investors rejected by SEC — link | archive

ETH break the major support of $3000 and also the $2650 support. ETH bounced from the lower support of $2350 area. The first resistance is $2700-$2750 area and major resistance is now $3000-$3100 area. ETH need to hold the $2350 support otherwise we may see a test of $2000-$2050 area.

Facebook's parent company Meta plans to allow users to create and sell non-fungible tokens (NFTs) as it aims to capitalize on the craze for digital collectibles, according to media report.
Teams at Facebook and Instagram are working on a feature that will let users showcase their NFTs on their social media profiles, the Financial Times reported, citing sources. Teams are also working on a prototype that will allow users to mint their own NFTs is also being worked on.

More than half of Nasdaq 100 companies have fallen by 10% or more since the index peak — link

The Bottom Is Near
➤ Bitcoin’s Entity-Adjusted Dormancy Flow helps understand the spending behavior of experienced market participants. Whenever there is a substantial reduction in BTC spending from the so-called “old hands,” the dormancy value falls below 250,000, signaling that the market is in full capitulation.
➤ In previous bear cycles, a dormancy value below 250,000 represented a great historical buy zone. Bitcoin’s Entity-Adjusted Dormancy Flow currently sits around 205,000 and can still drop to 180,000 to mark the end of the downtrend.

Last Friday, money markets on ETH experienced their largest liquidation event to date, amounting to over $200m — link

⁠The Beatles and John Lennon music history collection to be auctioned as NFTs

Each NFT in the "Lennon Connection: The NFT Collection" would be offered as an audio-visual collectible, narrated by Julian Lennon himself. — link

Funding rates doesn't moved a lot as per the dump and looks pretty normal. If we're in bull market then this will be a strong shakeout to remove over leveraged players and weak hands.

Price is pumping while funding is turning really negative.

Decent resistance above, if #BTC wants to continue the upside, it should pump back above $39500 this week. Otherwise this will become a strong horizontal resistance.

Russia's Putin seeks consensus in crypto regulation dispute — link

Despite the broader market downturn, NFT activity remains vibrant.

The number of unique wallets buying NFTs this month has doubled from just 5 months ago (380k now vs 190k in Aug 2021), showing that interest in the space is booming — link

Bitcoin is slowly moving up towards the resistance of the $38,750 area. We will see high volatility during the weekend. The break of this triangle will decide the next move. If the ascending triangle breaks in an upward direction then we see upward movement towards $40,000-$42,000 area. If the triangle breaks in downward direction then we see a move towards the $33,000-$34,000 support area.

Justin Bieber Buys a Bored Ape NFT for $1.3 Million (500 ETH) —link

At an annualized energy draw of 89 TWh the Bitcoin mining network uses approximately 0.05% of the total energy consumed globally, measured at 162,194 TWh — coinshares

SkyBridge Capital’s founder expects a $500k Bitcoin price in the next 5 years
Speaking in an interview with Kitco News, Anthony Scaramucci, the founder of SkyBridge Capital, stated that Bitcoin had the potential to reach a price of $500,000 within the next four to five years.
I ultimately think that Bitcoin will be worth half a million dollars, and it will take four to five years. The ride will be rocky, but it will certainly be worth it, he said.