Daily Breakdown – June 16, 2021

*Although I make minor adjustments where I see fit (to make for an easier read), the bullet points featured below are taken from article bodies and headings. 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:

• Roughly a month after the massive mid-May market crash, when BTC crashed from over $50,000 to $30,000, the general sentiment among traders has normalized to neutral levels. The Fear and Greed index has also returned to a less fearful state. (Jordan Lyanchev, cryptopotato)

• 98% of CFOs say they expect their hedge funds to have invested 7.2% of their assets in cryptocurrencies by 2026.

• More Brits bought crypto than shares last year, new survey suggests. (Martin Young, cointelegraph)

• Founder of Brevan Howard hedge fund Alan Howard has started offering cryptocurrency services to businesses and institutions through his company, Elwood. Following this investment, U.K.-based Elwood has directly invested 1.5% of its main fund in crypto and is now one of the highest-ranking fund managers to invest heavily in crypto. (David Karuiki, zycrypto)

• General Motors CEO Mary Barra told CNBC Wednesday that "nothing precludes" her company from accepting Bitcoin payments. (Alex Dovbnya, u today)

• Despite the most recent price fluctuations with bitcoin, whales have not been deterred from accumulating sizeable portions. (Jordan Lyanchev, cryptopotato)

• New Bitcoin bull market hodlers are refusing to sell at $40K, data suggests. (William Suberg, cointelegraph)

• Billionaire investor and hedge fund manager Paul Tudor Jones unveils that he’s raising his allocation to Bitcoin. (Daily Hodl Staff, dailyhodl)

• Jiang Zhuoer, CEO of mining pool BTC.TOP, tweeted that Bitcoin miners’ clean energy usage already exceeds 50 percent. (Alex Dovbnya, u today)

• Michael Saylor believes Ethereum and stablecoins have a spot in the cryptocurrency space and also outlined by how much BTC has outperformed gold. (Jordan Lyanchev, cryptopotato)

• Authorities in India are reportedly weighing up options concerning crypto regulations in the country. (I've included this in the bullish section as nothing in the way of a ban has materialized thus far)

• Court has approved of the two highest ranking Ripple executives’ request to seek judicial assistance against the SEC beyond the USA. (Yuri Molchan, u today)

• Analysts agree that the digital currencies can work hand in hand with current cryptocurrency offerings. (Matthew De Saro, beincrypto)

Bearish breakdown:

• The governor of Indonesia’s central bank will prohibit the use of cryptocurrencies as a payment tool, in yet another move by the country to rein in the crypto market. (Rahul N., beincrypto)

• As the market capitalization of stablecoins surpassed $100 billion in May, regulators are growing increasingly concerned about the risks they pose. (Nicholas Pongratz, beincrypto)

• A recent Opinium poll has shown that a majority of British financial adviser respondents are not advocates of crypto investing for their clients. (Osato Avan-Nomayo, cointelegraph)

• Buying 100,000 coins in less than a month, whales now own almost half of the circulating supply. (Jordan Lyanchev, cryptopotato)

• Fifty South Korean cryptocurrency exchanges have applied for certification under the country’s Information Security Management System — the first step in meeting stringent new crypto exchange regulations that will take effect on Sept. 24, according to a government press release. (Danny Park, forkast)

• Legal expert says Tether and Binance Coin (BNB) are likely picks for SEC lawsuit. (Samuel Wan, cryptoslate)

Seeing as last two daily breakdowns have been very well-received, it was only right to make another. Long live the bulls!