Crypto News Today – DANGER – Crypto Capitulation Coming?
Ultimately, the prices have dropped like we have been talking about as weve been expecting and articulating in our videos to you guys that you know you should be cautious in the space and wait for lower prices, and i myself have said that i thought crypto is going To bottom out this month in june, well see whether thats the case and whether that comes to fruition, but show your appreciation mash up that like button, if you havent already subscribe, youll want to do this tapping the bell, selecting all the notifications, so you kept up To date, with all the crypto videos that we uh present here at cheeky, crypto right lets get down to the desktop. Okay, so were going to start on coin market cap now you know all of crypto um has seen you know massive pullbacks. Now the total market cap for crypto has pulled back 13.32 and its below 1 trillion. Now its at 981.22 billion big pullback bitcoin has just sort of regained 24 000 down 14.19. It did go down a little bit lower than that. So you know maybe a little bit of a relief rally, but we do expect it to to go back down uh and see a lower price than 24k. So you know just be aware of that. But there are some fantastic buying opportunities. Just have a look at the previous video where ive gone through. You know the projects that we have been purchasing and you can sort of be kept up to date with our live, buys and sells in our patreon so link in the description.
If you wish to become a member, we have two weekly amas access to private sales for our vc partners and much much more um. You know if thats not gon na float your boat, then why not jump into our discords free to join over three and a half thousand people talking about crypto 24 7.. Our team is in there to support with any questions and queries, so definitely worth joining us. There and having some more meaningful conversations, but what i really want to do is have a look at a lot of the news headlines here. Even sky news is getting involved, bitcoin plummets to the lowest level since december 2020, as crypto uh lender celsius pauls withdrawal. So if you missed my video from yesterday, i did say that you know it looks like celsius are having some problems. It looks like uh, sam, the founder of ftx and alameda. Research is playing um, you know nasty in the space really. I know its business, but ultimately lives are impacted negatively when businesses go out of uh out of business. Hopefully, that doesnt happen with celsius theyre a big player themselves, and i expect them to to recover um nick and myself have an awful lot of bitcoin on our celsius. Uh apps so really hopeful that you know they dont collapse because well probably lose our crypto and uh. That will be. You know i guess a learning for us, but what i always say is you know, make sure that you know you um.
I guess you know, understand the risks and you mitigate those as much as possible. I mean we only have 10 of our portfolio on centralized platforms like celsius. For this very reason right. You know its that risk to reward scenario, and we always want to kind of keep ourselves safe, but to lose 10 percent of your portfolio is still a big big loss, so hopefully celsius can turn it around im, confident that they will. I think you know closing the the door on withdrawals as much as that can be seen as a negative. I think its very much a positive in the respect that theyll be able to rebalance what they need to rebalance in order to service their customers. So fingers crossed and um. You know that will you know be okay right and uh? No one really knows, and i think thats the the point to articulate to everyone. Finance also halts bitcoin withdrawals its not just celsius. Um theyve done this after you know, celsius did the same now. A lot of this media coverage is is really negative right and we see this all the time we talk about. This youve got to take all of the media outlets with a pinch of salt, because there is a hidden agenda behind most of it, not all of it, but a lot of it right. So weve got to take it with a pinch of salt. That is, you know there to scare people out of the market in order, for you know a transfer of wealth to happen um.
So you know basically finance im not going to read through the whole article. I will link it in our discord, a reason for you to to join there to have a look through these articles, but basically theyre blaming it on a um. I guess a stalled um transaction im not so sure. I believe that myself. I really do think that theres theres more to it probably around liquidity issues. Nick and myself have already explained that a lot of you know crypto is leaving the exchange, particularly um bitcoin, but also like cardanos ada is another one. That leaves the exchanges quite a lot, and you know this is why you see great and fantastic yield opportunities um, if you put it on the likes of binance and celsius and so forth, for putting it there right because they utilize those assets for liquidity, um. So yeah its its really important that you, you know you utilize something like a hardware wallet. This is what we always say. You know if it isnt your keys, it isnt your crypto and uh. You know again, theyre all like. I look at all of these companies. Uh and you never know whether theyre crooks or not, so you know youre putting your trust in in companies and leaders of companies no matter what size they are. You dont really know them personally, so you know, would you trust somebody random off the street to look after your crypto? I wouldnt now um the bank of englands, uh bailly latest crypto turmoil reinforces concerns, and you know again.
This is just more and more um. I guess negativity around trying to scare people out of the market. In my opinion again i expect regulations to come. I will embrace regulations, i think its going to be. You know fantastic for the crypto and it is much needed, but you know i keep banging on about the bad actors in this space quite regularly because, ultimately were in. I guess some financial economic issues around the world. You know with the war and um, you know the inflation and interest rates and the the cost of living all increasing all this stuff, um, you know, were going to see a lot of companies fail and, i think, were going to see lots of companies losing their Better staff unable to then continue with their projects – you know the smaller ones and stuff like that. So just make sure you youre keeping an eye on the projects and youre really focused on what the teams doing the road maps and making sure that the team is being held accountable. The dates that they put in roadmaps and stuff like that this stuff is so important in this space, but ultimately just a lot of scaremongering, coinbase micro strategy, other bitcoin exposed stocks tank amid crypto meltdown uh shares of micro strategy and coinbase uh collapsed during the pre Market trading, on mondays, the price fell below 24 000. Again, this is, you know, across the board and again its just more reasons to to you know, frighten investors out of out of the space and it and it works right, and this is why we see this big transfer of wealth, crypto.
com blockify, to cut over 400 Jobs amid market riot, so again, you know this is what happens in in bear markets right. You know theres lots of uh bullishness in the in the bull market um, but it does go very, very south when it comes to a bear market right – and this is the same with the exchanges and the the companies within crypto its going to be interesting. To see how things um, you know, sort of start to work right and um which projects you know flourish and which ones dont so yeah its interesting to see all this sort of stuff. But you know i think it it is reality right. These arent the only uh companies that are cutting um. You know the the workforces and stuff like that. Jeremy have um, i think coinbase have as well theres theres, quite a few right. So you know its really important that were were aware were keeping an eye on on the headlines, but youve got to take some of the stuff with a pinch result its got to be uh, its got to be said, so i think you know just to summarize Everything theres lots of bad actors in the space at the moment, lots of things not really working, as you would like them to. I think uh its really important that you know we uh keep our crypto uh off of exchanges offer centralized platforms in our own wallets where we hold the keys, something like a ledger: theres a link in the description.
I only get it from the manufacturer direct like i say, from the link below and not off, of like amazon or ebay, because you know there might be compromised wallets. So you know just make sure that youre youre very uh, shrewd about how you you go about things in this space. Ultimately, i hope this video was was useful, um in some way, if it was mash up that, like button subscribe, if you havent subscribed already tapping that bell, selecting all the notifications, so you never miss a video and ill catch.