Bankless ROLLUP: Crypto Bill | OP Wintermute | Illuvium Land Sale | PayPal Crypto | ApeCoin Ethereum
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Jun 10, 2022 The podcast dives into the latest trends in the cryptocurrency market, including Bitcoin's performance and Ethereum's upcoming merge. It highlights PayPal's new features for crypto users and the implications of New York's Bitcoin mining legislation. The discussion also covers significant hacks, the rise of NFTs in gaming, and the $72 million land sale by Illuvium. Furthermore, the hosts debate whether the market has hit its bottom while exploring potential investment opportunities during this bear market.
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ETH-BTC Ratio and Bear Market
- The ETH-BTC ratio is testing its lowest point since breaking out of the 2018 bear market trend.
- A lower ratio could signal a prolonged bear market, while an upward trend suggests a bullish long-term outlook for ETH.
Inflation as a Lagging Indicator
- Inflation is a lagging indicator, reflecting past market activity rather than predicting future trends.
- Current inflation reports are interpreted as the market's reaction to the Fed's response, creating a complex feedback loop.
Arthur Hayes' Bottom Checklist
- Arthur Hayes argues that current market conditions indicate a bottom for crypto, citing factors like decreased correlation with NASDAQ and media negativity.
- He uses the example of median house appreciation exceeding median income to illustrate excessive money printing.