We need to be aware of as crypto investors, because a few events have happened that could drive prices significantly lower because institutions, some of them, are in deep trouble right now, and these are the people with hundreds of millions, if not billions of dollars. So lets talk about the overall market. First, when were looking at bitcoin in the overall market. Like i said, a lot of good is happening were seeing that bitcoin right now is at right. Around twenty to twenty one thousand dollars per coin were seeing that ethereum has also regained that one thousand dollar per coin number, which is also a very key psychological level for ethereum, both bitcoin and ethereum, are holding above. These very important psychological levels were looking at the overall crypto market same with that were seeing that the overall crypto market is sitting at a 924 billion dollar market cap up around three to five percent over the last 24 hours, depending on when youve looked when were Looking at the crypto fear and greed index, much of the same were seeing more optimism coming back into the market after seeing record lows in terms of the crypto fear and greed index at six, just the other day were back up to 11 and by no means By no means is this extremely bullish were saying that everythings great everythings, looking amazing, but this is showing us that were not at peak fear anymore. It looks like that max fear that max payne in the market has started to subside and people are getting back in at least slightly starting to get back into the market.

Finally, with just technicals looking at the market were seeing that bitcoin also, its charts, are showing us a couple of interesting things, first of which is that were seeing that the weekly volume on the weekly chart for bitcoin spiked very similar to what it has done. In previous bear markets, this could indicate that we have seen capitulation take place, meaning that the bottom is in back in 2020, during covid crash, we saw massive amounts of sell offs and this spike in volume that was followed by a huge rally of over 100 for Bitcoin same thing happened in right around the at the end of like the summer of 2021, when we saw that drop from 69 000 down to 28 000. same thing happened there and were seeing the exact same thing happen now, so i would say that it looks Like weve hit the bottom as long as bitcoin on the weekly charts stays above the previous bull markets high, so we have seen it drop below in wick below, but we have not yet seen a close below the previous bull markets all time high. So i think, as long as we see, each weekly close above that level were good to go, looks like the bottom is in now lets talk about some things going on with um china, so china, we usually see a lot of fun come out of china whenever The market is starting to bottom out. We usually see that whenever china starts talking more about, crypto starts putting more restrictions in place, its usually followed by a huge rally in the market, and what were seeing right now is that china came out and warned investors in a bunch of recent news articles that The crypto market could go to zero after the recent crypto market crash and, in my opinion, this is just fud and manipulation coming out of china and the chinese government a lot of times.

What we see is that china is saying one thing, but doing the complete opposite theyre, either buying bitcoin or doing whatever can benefit them. I think thats exactly whats happening here, its not that crypto is ever going to go to zero, because theres too many big money players in it already were seeing massive institutions involved were seeing regulations already starting to come about its not going to zero. So really, this is just to drive fear in the market and keep that in mind. Whenever you see posts like this, whenever you see governments talk this way, probably its theyre doing something completely the opposite of whatever theyre saying right now, theyre, probably actually buying bitcoin. Getting more involved now lets talk about what is actually happening with coinbase, because this is one of the big stories of the day. Coinbase recently came out and announced that they are shutting down coinbase pro and many people ive seen commenting and talking about this on twitter. Simply saying coinbase is shutting down coinbase pro and from that statement alone it looks like coinbase is in trouble it would. You would appear that coinbases stock has dropped in value, that they have been having layoffs and that they need to shut down a portion of their business. But thats not the case at all. Whats actually happening with coinbase is theyre, consolidating their different platforms, theyre consolidating coinbase pro and coinbase into one platform, so theyre saying all of the services.

All the features on coinbase pro are going to still be available. Theyre just gon na make them available on coinbase.com. On the regular coinbase platform, so again, whenever you see posts like this, make sure you do your research, you look into them because on the surface this looks bad for coinbase. It looks like theyre in trouble, but in reality theyre just taking the features from coinbase pro and integrating them into the regular coinbase platform. According to um the company. They said that for customers holding funds on coinbase pro, you dont need to do anything theres, no actions that need to be taken so dont worry about it really theyre. Just trying to integrate everything into one platform. Give all of these advanced features to everyone using regular coinbase next up is, i want to talk about what has been going on with crypto exchanges continuing to be in a bit of trouble. What were seeing is that crypto exchange and lending platforms are continuing to see massive amounts of either bailouts that need to be bailed out or theyre simply having to freeze and pause withdrawals and a new company has entered this. We have seen that the crypto exchange coin flex has officially frozen all withdrawals due to uh counterparty uncertainty and were seeing that this is not the first company over the last week or two weve seen so now. Coinflex babel finance celsius, finblocks, voyager digital, were seeing so many companies in the crypto space are struggling, and so what i want to talk about in this video and the reason why the title is what it is is because things could potentially get worse in crypto because Of this, not because of overall sentiment in the market, but its because there are right now dozens of crypto companies that are in deep trouble, theyre in very deep trouble.

Right now, ftx has bailed out block fi and multiple companies were seeing three arrows capital in huge trouble as well, and because of this all these companies have, you know, first of all, they employ a lot of people in the crypto space. They have large balance sheets, or at least they did before this happened, and these are companies where people put a lot of their money in a lot of their trust into. So because of this, when were seeing, companies lets say, like coin flex, start to phrase, withdrawals that can actually deter people from being in the crypto space. Imagine if you had all your money on coin flex or on celsius or fin blocks or one of these platforms and then all of a sudden you cant withdraw any of it. Thats going to make people pretty scared, and as soon as you see, these withdrawals get back online, they allow people to withdraw money im expecting a lot of that money just to come right off of these platforms. So that is why things could go from where they are now and get even worse, really, just because of what is happening with all of these crypto exchanges and lending platforms, and things like that last couple, things before i want to wrap up, the video is going To be with what has happened with binance ceo, so the binance ceo cz recently came out in an interview and said he believes that the worst of the crypto crash is probably over, and many people are agreeing on this.

The reason for this is first of all, they can look at all the data on their crypto exchanges. Looking at the orders coming in, but really what were seeing is that cz says he doesnt expect any more major price drops for crypto in the near future. He says that this doesnt mean were going to go back up to 69 000 back up to record highs soon, but what it does mean is, he thinks were at least gon na consolidate, see a lot of companies build and develop during the next couple of months. He predicts that bitcoin could recover to all time highs within the next lets, say six months or a couple of years, but he was very broad about his statement there. He did not make any sort of certain or specific predictions. He said. Look the market right now. He thinks its bottomed out based on everything that has happened, but in terms of when it will recover. That is a little harder to predict. He says he says: yes, it will recover, but it could be. Six months could be a year could be two years. She said ultimately right now. That is what he thinks about the current market and personally, i agree. I think that 17 500 – we saw a lot of buying pressure come in at that point and, like we said earlier in the video as long as we stay above the previous bull markets, all time high on the weekly charts, i think, were in a good place And while theres no way to know when everything will recover, especially because of inflation and interest rates, i think were in a good place right now to just continue to accumulate projects that we believe in long term, and last thing i want to talk about is something That is actually pretty interesting things that weve talked about in previous videos, and that is from bank of england.

So the bank of england, deputy governor, recently, came out and said that he believes that the companies that survive this crypto crash and this crypto winter. These are the ones that have the potential to become the next amazons and ebays of like the web 3.0 world, and this is very much the case. This is why i always talk about up and coming projects that im interested in ive talked about music platforms. That could potentially replace lets, say spotify or add on to spotify ive talked about a number of companies in the gaming space. This is the reason why? Because when were seeing times like now, where everything is crashing, everything is consolidating and were seeing. Companies really buckle down. Those are the companies that are going to come out on top in the long term. These the companies are going to be the multi billion, if not trillion, dollar companies in the future. So that is why im always keeping an eye out for them and why im always sharing them with you guys, but anyways thats whats been going on the market theres some good news, theres some bad news.