Daily Breakdown, 17 July, 2021

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*Although I sometimes make minor adjustments where I see fit (to make for an easier read), the bullet points featured below are taken from article bodies and headlines. Adding too many links gets recorded as spam, so I will simply include the website and author name per bullet point. If you want any of the source links, feel free to pm me 🙂

Bullish breakdown:

• Black Rock Petroleum Company has partnered with Optimum Mining Host Limited Liability to operate up to one million Bitcoin miners in Canada. (Ryan James, beincrypto)

• Bank of America (BoA) one of the largest banks in the United States, is now allowing clients to trade Bitcoin futures. This is one of the first institutions in the United States to make it possible for investors to get access to Bitcoin futures trading. (Jonathan Gibson, usethebitcoin)

• U.S. City Mayor Scott Conger recently posted on Twitter his belief that Bitcoin will fix inflation. His tweet which called out the U.S. federal government consisted of a couple of questions for the government regarding inflation. And then ended with there being only one fix for inflation: Bitcoin. (Best Owie, bitcoinist)

• El Salvador’s government intends to establish a native cryptocurrency that the public will be able to use to pay for services, according to San Salvador-based media outlet El Faro on Friday night. (Jordan Major, finbold)

• An anonymous crypto whale has moved a staggering 13,003 Bitcoins to Coinbase. Chinese crypto journalist Colin Wu has shared CryptoQuant charts which show that this transfer was made by Coinbase internally. (Yuri Molchan, u today)

• Crypto analytics firm Santiment says Ethereum’s top 10 largest addresses went from owning as low as 18.46% of the total Ethereum supply after mid-May – when ETH achieved its all-time high – to 20.58% by July 13th. (Daily Hodl Staff, the daily hodl)

• Santiment company believes that despite the current negative BTC sentiment on Twitter, a price surge might follow that will take the community by surprise. (Yuri Molchan, u today)

Bearish breakdown:

• The bears still have a tight grip on the market as bitcoin dropped to a three-week low of $31,000 while ETH is south of $1,900. (Jordan Lyanchev, cryptopotato)

• CEO of CryptoQuant, Ki Young Ju recently tweeted that “BTC selling pressure seems to be high.” According to Ju, the indicator shows that the exchange whale ratio is over 85%. “When this indicator constantly keeps above 85%, the market has usually been bearish.” (Ryan James, beincrypto)

• In a statement, U.S. Treasury Secretary Janet has said: "In light of the rapid growth in digital assets, it is important for the agencies to collaborate on the regulation of this sector and the development of any recommendations for new authorities." (Kollen Post, theblockcrypto)

• Japan is beefing up its diplomatic efforts to regulate digital currencies globally, three officials told Reuters, a sign of the government's growing alarm that a proliferation of new forms of private money could upend the financial system. (Leika Kihara, Takaya Yamaguchi, reuters)

• Anthony Di Iorio, a co-founder of the Ethereum network, says he’s done with the cryptocurrency world, partially because of personal safety concerns. Since 2017, he's had someone traveling with or meeting him wherever he goes. (Olga Kharif, Bloomberg)

• Authorities in Malaysia destroyed more than $1.2 million worth of Bitcoin mining rigs after they were confiscated for operating illegally. (Turner Wright, cointelegraph)

As a crypto investor you must learn to take the good news with the bad. I'm here to present both sides of the news to you, both sides of the coin. Long live the bulls!