So early tuesday morning, the u.s treasury yields fell, 8.9 basis points and the 30-year bonds also moved down 5.12 basis points. These numbers came in as a result of fears of another potential slowdown in global economic growth looming ahead six and a quarter six months ago. Today, while investors are wary on the global situation, where economic growth from higher inflation and rising interest rates remain an area of concern, the question is: could these hikes be enough to turn around the economy and to send our equity markets back in a clear bull run? With bitcoin in the crypto markets gearing up for another minor pump, i do also want to mention there is a warning that the bounce could also be short-lived as the recession risks continue. Now.

Ladies and gents, in today's video we'll cover why bitcoin is struggling to maintain that 40 000 level, what is going on in the overall markets, with the dollar index, making new highs and some other major headlines in the market today. Now, if you are appreciating, these daily market updates be sure to drop a like down below on this video subscribe. If you haven't done so already and with that being said, let's hop into the computer and see what is going on in the market for today. So the global crypto market cap for today sitting at 1.8 trillion dollars or a 1.4 increase over the last day.

Bitcoin's dominance is currently sitting at 41, also an increase of a 0.34 over the last day, and that's just because bitcoin is having a little bit of a recovery at the time of filming this video, while other all coins are still catching their feet now, here on Your screen you're, going to notice the us dollar index, also known as dxy, which is also shown to have gone parabolic and rose above the 100 level for the first time since the pandemic struck a negligent monetary policy sent bitcoin soaring now, what's really interesting about this Is that the bitcoin price action is generally inversely connected to the dxy? So when bitcoin goes down the dxy increases and when the dxy goes down, we've seen bitcoin also going up as well. This is because when the dollar crashes bitcoin soars and vice versa, now the dxy is currently at a two-year high because of the fed rate hike expectations which we have been talking about all this year. Whenever we get occurrences of this, the dollar strengthens when those rate hikes are expected. Now the dxy is a basket of currencies trading against the dollar.

Weakness in currencies like the yen have contributed further to the dxy dominance. Now keep in mind the next challenge for the dxy could be a multi-year high set in january 2017, and when the dollar goes parabolic, then markets tend to go risk off. It's been proven many times in the past, in the crypto and in the stock market that the dxy doesn't need to crash or go down to stop the downward pressure of bitcoin. It just needs to slow down now in terms of bitcoin price action analysis within the short term.

A minor positive about all this is that the price has rebounded off the support lines of the ascending channel on april 27th, indicating that the bulls are still attempting to defend this level now. Currently, with that being said, if the bounce does sustain, the bulls will again to look push and pass the 20 and 50 day ema, which is those moving averages right now with the charts, you can clearly see the resistance line of the ascending channel, as well as The moving averages of where we are at to also give you the full picture, because on this channel we don't like to sugarcoat things, but we also don't like to be the bears. I just give you all the information, so you can make the judgment on yourself. If the price does break down from its current level, it will suggest that the bears are in control and, as we mentioned in yesterday's video, we could continue to see a bitcoin's price hit as low as 32 000.

Now going to the top seven day winners. We still have kyber crystal network or actually kyber network crystal up about 26. We have cava not similar to the food brand in the u.s, but we have cava the cryptocurrency up 18 or up four percent and we still have apecoin on its massive run. Now, even in the last day, acorn has been making some pretty beautiful gains, starting from 1785 all the way up to the 19.49 level.

Now, as we continue to progress throughout the end of this week, where apecoin is going to be used in utility for those land sales coming up amongst the boarded yacht club collaborated, nft, open, metaverse drop, where many people are still speculating. This is going to be one of the biggest projects coming about make sure that you are paying attention at least to apecoin and make sure that you're paying attention into a lot of these other nfts associated with the project. Now, within our discord, almost non-stop in my brian's research channel, we've been putting in all the alpha that you need to know for the other side project. I've been preparing, at least our jungle family members on this for the past few weeks, and when this does drop, i don't want to say i told you so, but this is gon na have a huge monumental moment where you can still load up those bags.

Now now, looking at some of the biggest seven day losers, we have moon beam on here down 27. We have near protocol, we have zeal down 23 waves down 22 eos down 19 and even harmony, one taking a big solid hit down 18 for this week as well. Amongst all the green in the market. We do have to take a look at the red, because red is gon na, be the buying opportunities and i prefer to buy up the assets that have been getting wrecked, so they can play a longer position and make those rewards not when the hype is centered Around in addition to that today, we are still seeing extreme fear happening within the market.

We're gon na get this reset tomorrow, but i do think it's gon na go back up just a tad, maybe hitting 23 on this barometer here, going into defy llama, where the total value locked is going to give us an indication of how much money is locked On these protocols, so, as you can see on your screen, the tvl has not been going down significantly in price. It's actually been correcting over the last week and we have still been seeing some all coins getting wrecked. This just shows the case in point. Macroeconomic factors still dictate what happens with crypto, and on top of that stocks, us treasury yields or even the dollar index.

All of that is still playing into what happens with crypto. If you ever get hesitant within the market. Ask yourself this has anything fundamentally gone wrong with crypto. Has adoption actually slowed down or hasn't been getting better and has crypto continue to make positive gains? Are we seeing more innovation and are we seeing more people less reluctant to get into it just because it's been moving south? Well, if you guys have been watching these updates, you should know the answer to every single one of those questions, which should also give you an indicator of what the current state of the market is really like.

Anytime, we see bitcoin consolidating within this range. All i see is just a vast area of opportunity for us to continue making those bags so to kick off some of the major news. Let's start with the article with solana, okay bears, which is topping all ethereum nft projects, with 18 million dollars in sales. In one day now, while ethereum continues to remain the dominant platform for nfts, we can't help but notice the rising rival of solana, putting up a fight as new projects draw even more attention.

Now before i even started to load up my own personal backs within the ethereum ecosystem using metamask, i was actually heavily involved into the solana projects as well. If you haven't seen my success story on how i went from negative thirty thousand dollars losing money into nfts about a year ago before it even started to blow up and now how i have over a million dollar portfolio check out one of our previous uploads on This channel, which will also be a link down below in the description now going back into our major headline. What is ok bears well. This is a solana based nft project which launched on tuesday april 26, at a mint price of 1.5 sold or about 145 per nft.

Now quickly after it was minted, we saw the price of this collection soaring and generating millions of dollars worth of trading volume. At the time of filming this video, the current floor price is now at 50 for seoul or at 5 400. Now, according to data from open c, ok bears is the top traded collection in the marketplace, showcasing close to what i said: 200 000 still worth of trading volume over the last day. Now, on top of that, there have been a lot more competing ethereum based nfts that have been coming about.

Oh actually, a lot of that has been happening within the news. I could make a full 30 minute video on nfts, but we're just going to focus on more the general broader news. Most of you guys may have heard of garyvee or gary vaynerchuk, and his new nft collection, known as v friends. V2 went ahead and launched 4 391 worth of ethereum or 12.6 million dollars worth of trading volume in the last 24 hours as well.

Hugo labs, which also recently acquired me bits had a trading volume of 11.9 million dollars in the last 24 hours and solana. Nft trading volumes in its entirety is up 218 to 28 million dollars, while ethereum nft trading volume has been down about 30 percent, now very similar to board apes. The creators of okay bears plan to reward holders with future nft drops and additional perks and benefits ahead on an exclusive roadmap. Taking a look at this road map, you'll see the bear market workshop gallery the park, studio, boutique and platform, and when we click on it, we can see what they're trying to do.

They're talking about keynote conferences, meetups community grants and copyright licensing as an example. Even at the bottom, they say it here: we're not just releasing a roadmap, we're laying out the blueprint to help guide and build a community-centric, world-leading, web3 brand. Now, if you're seeing a roadmap like this for the first time i will say, the designs are very cool, but from first glance or at least from everything i've seen within the nft space. This isn't anything too groundbreaking, it's nothing too crazy or out of the ordinary, but i will say this is happening within the solana ecosystem anytime.

We get new projects getting hype, which i think is the number one key factor behind: leading growth, development and success behind nfts. In today's world, right now, that is what this project is succeeding at now, as the years continue to move forward and nfts continue to marinate in the space. I do believe we'll get to a point where you just can't have a blueprint or roadmap. That's going to entail a project getting very successful in the space.

I think, as we continue to move forward, it's going to be about exclusive products offering something new to their community. Nfts still have a huge amount of opportunity within the space, and it seems like right now, profile pick nfts, which are also known as pfp nfts continue to dominate the space. I think this is just from an indicator on how early we are within the culture, but as time moves on i'm telling you that bar is gon na get set higher. The crappier projects are gon na fall out.

They're gon na get exterminated and we're gon na see the better ones continuing to move forward and make you money now. The next major headline we have today is that openc went ahead and acquired ethereum nft aggregator gem for their pro users. So if you don't know what gem is this pretty much just lets, you buy nfts across multiple marketplaces, with a single low-cost transaction, which is also known as sweeping the floor when you're thinking of sweeping the floor in the nft or crypto world. Just think about this, like literally when you're getting a broom and sweeping the floor, you're sweeping up all the dust, all the things at a low price, all into one and you're able to buy it up, raising the collection floor, the floor is going to be the Lowest costing nft - and i know most, you guys probably already know all this terminology, but for anyone, who's new into the nft space just want to make sure we can help you out there.

Now the ceo and co-founder devin finzer of openc also stated this. As the nft community grows, we've recognized a need to better serve more experienced pro users and offer more flexibility and choice to people at every level of experience. Now some of the other marketplaces connected to gem include looks rare and wearable, which are two of the biggest competitors against openc within the nft marketplace. Space now i will say, openc is currently still the biggest player in the market by a sizeable margin.

But the notable rivals are now including even more additional players in this space, including upcoming coinbase nft, which i don't know how competitive they're going to be because their beta looked a little booty. And then we have the upcoming nft program, where wearable is continuing to expand their user base as well now before we move into the next major headline for today talking about brazil and what they're planning to do within the crypto space. Let's get a quick word in from our sponsor for today, which is going to be ftx so with ftx, you can find yourself trading crypto with up to 85 lower fees than their top competitors. There's also no fixed minimum fees, no ach transaction fees, and you can also set up reoccurring, buys directly from the app which makes dollar cost averaging something we talk about on this channel very, very easy to do now.

Speaking of all, the nfts going on in the space ftx also has a marketplace where you can find top ethereum and solana based nfts without having to go through metamask and using gas fees as well. So ftx has a ton more coming this year, including events upgrades and different parts to their exchange. If you are interested in getting in on early on what i believe is the next big thing check out the link down below in the description to get started and earn free, krypton every trade over ten dollars. Also, if you use code, jung down below you'll, find yourself earning a hundred dollars by signing up and depositing some money into the app as well.

Now, thank you to ftx for sponsoring today's video back into the update all right. So we got headlines that brazil, the largest south american country, has passed a bill to regulate cryptocurrencies, so brazil, a country that has been really well known for their soccer team, their delicious steakhouses. We even have a fogo de chao, one of my favorite places to eat here down in maryland and in virginia they are now being nationally recognized for their bullish outlook on bitcoin and their use in cryptocurrencies. So in case you didn't know the bill aims at creating a regulatory framework for the country's crypto industry.

The proposed laws aim to attract crypto businesses to the country and the lawmakers plan on exempting bitcoin miners from all import charges on asic mining machines to entice them to set up shop in brazil. Now the bill also proposes that crypto legislation would be the responsibility of the executive branch of the government. Moreover, the executive branch would also have the option of creating a new regulator for cryptocurrencies or delegating jurisdiction to the securities and exchange commission, also known as the sec. Now, in order for this bill to even go anywhere, it first needs to be passed by the chamber of deputies before president i'm gon na just say: jb here, signs it into law and by the end of 2022.

This is expected for when the delivery of this might happen now, my thoughts is here. Is this this isn't about making crypto legal in brazil, but it's probably the best second case scenario: brazil right now is implying that crypto's here to stay and that they need to plan how to regulate and embrace it. Overall. This is very bullish for us.

It's not just about the us or some of the other top north american countries. Now in terms of our fourth major headline for today, cardano's major network developer also increased their block size by 10 in amidst this falling market for cardano's prices. Now this tweet here states before the weekend, an update proposal was made to increase cardano's main net block size by 8k, and this change will take effect later today. At the time of posting, the tweet, which is on monday 25th.

Now many people might think 10. Isn't too much, but this is actually enough to increase data throughput and also scalability, which is also increasing the performance for cardone's decentralized applications. Now, these steps come ahead of cardano's eventual basho upgrade, which also includes introducing side chains on the network, which will improve the project's potential in scalability and interoperability as well. Now, despite the fundamental improvement in news reports coming out on cardano right now, the number of holders exceeds still 3.6 million people, and the price of cardano's tokens remained near annual lows amidst a declining sentiment in the broader crypto market cardona, which is currently ranked number ninth On the global crypto market exchange is sitting at 83 cents at the time of filming this video, and we pulled the charts out to the last all times.

You'll notice, it's still been having a rather strong decline. Now it's really unfortunate to see this because i know a lot of people ended up catching their bags early on, i still been holding my cardona positions long and even before we had all the hype going into it. I do think we could see a possibility of this crypto at least having some performance later this year. Now, while i'm not focusing entirely on cardano, i do think there are many other better opportunities than this crypto here, i'm not saying it's not a good way to diversify.

I just think there are going to be so many better ways to continue stacking up those bags. Now, like the usual, let me know your thoughts down below. I do try to read every single one of these comments on these videos and i do always appreciate your feedback as well. To wrap up today's market update, don't forget to check out the links down below in the description as well, where you can also find me on twitter and on instagram.

When you do follow me, don't forget there are a bunch of impersonators and scammers. So, just please be careful for them. On top of that, i also have an exclusive discord group where you get access to my buy sell alerts, my crypto portfolio, the nfts, that i'm looking at some of the best alpha that i can find on the internet alongside some of our best vetted crypto technical Analysis, advisors, if you want to have access to that and see what it's all about, don't forget to check out the patreon link down below. I will say we are completely sold out right now, every now and then we do open up some additional spots.

But if you do get lucky, if it says there's only one or two spots remaining, that is not just a bluff. There are literally one or two spots remaining until we continue to open up more and i believe, slow and steady is the way to go. For now, and i'm really not interested in scaling this to the moon or having the biggest community, i just want to make sure that all of our members within here are taken care of and we're all making really good money. This year i mentioned this before, but what i see is an investment to the patreon is an investment into yourself as well and for every say you get the 10 membership.

I want you to at least be making a hundred dollars back now. On top of that, we always do a secret phrase word at the end of these videos and for today's video that is going to be speaker, comment down below speaker, if you guys are making this all the way to the end. Like the usual. Thank you to ftx for sponsoring today's video and, most importantly, thank you guys again for all the amazing support and watching this video till the end you, if you're watching this till the end.

Let me do something silly, that's my silly thing, because if you're watching this till the end, you're a real one - and i know all the endings are the same on these videos, but you still continue to watch it, and i appreciate that all right. Let me wrap this video up, because my watch time retention is going to go down and youtube analytics are very hard on creators these days. Thank you all so much again for watching this video. I love you all and i'll see you all soon.

Peace.