The crypto market has had another uber impressive day with most all coins holding their their price. And resuming. What seems to be the end of the bear market and new start to the bull cycle on top of that celsius network. Has finally revealed the strategy to compensate its user base for their lost crypto funds.

But it might not be exactly what you're hoping for so. If you guys do appreciate. These. Daily crypto market updates be sure to like this video subscribe to the channel.

If you haven't done so already let's hop into the computer and see what's going on for the market today all right so on a day like this the us stocks are largely in the green this morning the dow jones climbed 08. Percent and the s p. A 500 and the nasdaq both rose about 1. As well.

The reason for this is because investors are currently reacting to significant earning reports like this week. Coming from giant companies like tesla netflix. United airlines american airlines twitter and verizon bitcoin is today trading right above the 22. 000 level down about 03.

In the past 24 hours. But up still 11 in the week now the big winner within the crypto markets. I'm gonna have to give it to ethereum we covered this in yesterday's update and throughout the night. We saw ethereum trading over 1500 for the first time since early.

June. Today ethereum is up about 45. In the last day. And about up 45 in the last seven days diving.

A bit deeper into bitcoin's short term price action on the four hour charts. You'll notice that the rsi reached overbought territory early yesterday. But has since dropped to 59. Which is considered to be a neutral rsi.

But nearing over bot levels. Once again. Bitcoin is still trading. Above the 50 100.

And 200 ema and if we take a look at the 200 ema. It is now becoming support for bitcoin. Which is also a huge bullish indicator. Now if bitcoin can sustain the 200 ema as support.

Then we could also see moves back up to the mid high in the 20 000. Range. Now. The weekly rsi is showing a little bit of a different.

Story we are seeing oversold levels at the 325 level. But bitcoin is already up about 7 since the beginning of this week. But there is still strong resistance at the 200 moving average breaking this resistance level here will be a significant step for bitcoin's price recovery. Now.

Let's take a look at ethereum because right now. This is definitely getting a lot of the buzz within the crypto markets and i know a lot of you guys are having some interest within this all coin here so on ethereum's daily chart. The rsi is currently reaching some overbought territories. Currently at the 65 level ethereum is trading above its 50 moving average.

Which is gonna be the blue line. You see on your screen. And this is for the first time since mid april now in the chart you can see that for the past two days. Ethereum was struggling to break above the 50 moving average.

But once it did ethereum jumped 18 back over the 1500 price level and right now. If this is able to hold the trading range will then turn from fifteen hundred dollars to two thousand dollars. Where 1500 does become ethereum's new level of support and two thousand dollars is gonna be the resistance that we're looking to hit now i'm gonna share with you guys here two different perspectives on the market. If we're looking at a more bearish side.

You'll notice that nothing has really changed in terms of the macro economics. Everything is still on course. We still are going through rampant inflation. We are still seeing interest rate increases happening within the states on top of that even though previous recessions have never looked the same right now if we were to say the bear market ended it would be beating a lot of the statistics.

It'd be beating a lot of historical previous trends that we have seen only because this bear market was just way too short lived so with keeping those reasons in mind. Just note that we may not necessarily be out of the hole completely. And i do think there are still going to be more buying opportunities lying ahead now at the same time just a random youtuber on here. And i'm just going to share with you guys both asides to the story because on a more bullish perspective.

There is still a bit of a higher and positive optimistic outlook. Because of this the current bear market that we've experienced seemed to have been different from everything else. And you have to keep in mind that it's not going to be retail investors that trigger the new bear market. Collapse and the start to a bull run.

This is going to come from institutional investors and for us. It's hard to time whenever they decide to make that decision on entering the market. It could be today it could be tomorrow. It could be in the next few weeks.

But it really is still up to a lot of the institutions and whether or not they want to start picking up assets at this price. I think specifically even when we talk about an asset like ethereum when we see a lot of the news. That's coming out and some of the upgrades that they plan to make this could give the confirmation for a lot of the players in the institution to say okay. This seems to be a little bit better now maybe we start buying at this moment.

Here. Another more optimistic outlook on why you may consider buying into the market. Now and whether or not this is still a relief rally. Or a bull market trap is just the fact that there is still higher upside than the downside in the short term run when ethereum was under the 1 000.

Level. You'll notice that the all time high that we experienced in the previous bull market pushed the ethereum towards 4 600. So that's about a 4 to 5 x. Depending on how you see it within the market and you'll notice the last time.

We had a pretty strong rally too back in 2018 ethereum's all time high had hit twelve hundred dollars. The question you need to be asking yourself is this since 2018 has there been any type of significant changes to account for a higher price target for ethereum well obviously during this time and even moving forward. There has been a lot ethereum has shown its utility ethereum's been used within nfts and different assets. And even showed its use case with a lot of the stable coins and other d5 products throughout the past few years regardless of whether or not right now could be a fake pump.

I do think there is still a higher price side than even the downside we could experience say we go into the most ultimate bear market collapse. We see ethereum going down even more than eight hundred dollars. Yes you can fight your way to get a better entry point just so you can know that you know you're maximizing every dollar in the market. But at the same time if you're trying to alleviate the stress.

And you take a look at the long term vision you'll notice that we are seeing higher upside. Then downside moves and if you are holding long. I do think the possibility of making a better choice in this moment is going gonna outweigh the downside we may see so that being said let me give you guys my thoughts on what i'm trying to do within this market. How i'm navigating the waters even at this moment.

I'm still waiting to see more confirmation happening within this market. It's clear and we take a look at the charts within the last week. I mean when you're making 40 returns or if we even open up polygon matic. Which is about 60 in the last week.

And most all coins having that bit of a recovery you may be thinking to yourself here. We go again. This is why i don't like investing. I don't buy in when it's right i always sell when it's wrong or you could be an individual that just huddles through the ups and downs.

Confirmation is going to be key in order to get an idea on which direction. We may head to next just because we've had you know maybe four or five days of green in the market. It doesn't mean that we can't return any lower now at the same time if you are going long. And you do plan on holding these assets for the next few years.

I do think we still have a good opportunity to buy in regardless of whatever your decision is during these times just know that crypto is still here. It's still here to stay. And we are seeing the innovation within the markets continuing to grow now going into the big headlines for today. Let's talk about celsius.

Because celsius lawyers are now claiming that users gave up their legal rights to their. Crypto so celsius's recent bankruptcy. Court filing revealed that they have a. 12 billion dollar hole in its current.

Balance sheet now 55 billion dollars in. Liabilities but only 43. Billion dollars in assets now this discrepancy between their liabilities and assets is really showing us how celsius was operating as an institution that was not on solid ground now. According to the firm's lawyers retail investors with earn and borrow accounts transfer the title of their coins to the firm as per in their terms of.

Service all right so to break it down what that means is over 17. Million registered users across 100 different countries gave up their title to their crypto when they deposited into a celsius. Now this is what their lawyers are claiming. Because celsius has always been able to get away with its little deceitful terms of services.

Because celsius is not a bank and they still haven't been held to the same stringent regulations as banks would in yesterday's court hearing celsius shared a powerpoint presentation on their current restructuring plan keep in mind towards the bottom of the document. Celsius reveals their next steps on how customers will get their money back and right now. Celsius has offered clients the choice of getting their money back at a discount or keeping their cryptocurrency investments invested. It seems like right now though what celsius wants to do is they want to make sure that they can wait for the market to turn around before selling anything at all to ensure it still stays afloat.

Then they want to pay off their users. With the appreciated cryptocurrencies. Once the crypto winter is over for us who may still have money locked up within their exchange. I mean.

There's still not much we can do all that is going on is going to be up to them and regardless of the decision that they make i don't think that personally even for me that have some couple thousand dollars within the app that i'm gonna be seeing my money back for a bit of time it's unfortunate and it really does suck and i was hoping that we could see our money coming back or at least have the option to but even during this time it seems like not much has changed. But things are working through the court system and hopefully justice does get served now the next headline. We gotta talk about today is gonna be details regarding three arrows capital. Bankruptcy which were leaked yesterday revealing that the crypto hedge.

Fund owes over 35. Billion at dollars to 27 different countries. Sorry not countries companies. Almost seems like countries just because of how much money that they owe and this is going to be blockchaincom.

Voyager the lender genesis global trading and. Wow it's just crazy so of that 35 billion dollar total genesis lent. 3 ac. The most amount of money and according to the court documents genesis loan 3ac 236.

Billion dollars. Which was under collaterized and had a margin requirement of 80 percent. So it looks like for the month of june. What ended up happening was back.

Then genesis began a legal process to compel the failed crypto hedge to honor its debt. This might be one of the reasons. Why they decided to finally declare bankruptcy and realize that this is a hole that they could not get themself out of it was also revealed that the co founder. Kyle davies tried to borrow another 5 000.

Bitcoin from genesis. Which at that time had a value of up to 125 million dollars. To pay a margin call back to a lender. So even during this time.

Suzu has been on the run. He has not been able to get located for the past few weeks. And even right now a lot of people within the crypto industry are questioning. What is really going on it looks like very well we could see another voyager celsius exchange happening with the exposed 3ac just because of how large this bankruptcy and debt hole that they've created has gone while this story still hasn't come to a full conclusion.

Please be careful please keep your eye out on this because i do believe that we could see another huge liquidation happening within the market. Just because we're talking about a lot of money that's getting dealt with at this time now on top of that since the crypto liquidation has been happening for the past couple of months. We haven't really talked too much on this channel about crypto hacks as often so i wanted to give a quick message to these two quick stories from yesterday with yuga labs warning of persistent threat groups targeting nft holders. So yuga labs has warned that there may be soon.

A coordinated attack targeting many different nft communities. They came out this tweet. And stated our security teams has been tracking a persistent threat group that targets. The nft community.

We believe they may soon be launching a coordinated attack targeting multiple communities. Via a compromised social media. Account. Please be viligent and stay safe.

I miss that the fbi went ahead and issued some public warning over fake crypto. Apps in the us. Federal government went ahead and pretty much stated that right now. There's a ton of fraudulent cryptocurrency applications and they've cheated over 40 million dollars out of regular people like you and i in one case.

The victim was convinced to download an app that used the same logo as an actual us financial institution and later encouraged deposit cryptocurrency into their wallets. Which turned out to be a scam during this bear market. When people get a bit more desperate because everyone is sensitive to the markets going down please be hyper aware of all the crypto scams going on and make sure that you are careful during this time. There's even one example that i have put up on the screen.

With the ledger live plus app. And this is coming direct from the microsoft app store. And it looks legit but keep in mind it says my cellulum apps mycelium apps. Something's a little sus here but a lot of people may not know that and what happens is you download an app like this you sign up and next thing you know you lose all your money before you even know what hit you now here are some of the recommendations that the fbi has given out to the community and they state always be wary of unsolicited requests to download investment apps or to click phishing links verifying that when a company is legitimate and always treat apps with limited or broken functionality with skepticism it goes without saying and i'm sure most you guys heard it and i'm sure most you guys think you know brian.

I do that already but you can never be too safe please be careful during these times and please do not get scammed alrighty guys. So that is going to be today's market update. If you did find any type of value within this video. Do me a favor drop a like down below a comment down below the secret code word for today.

Which is going to be card comment down below card. If you guys made it to the end don't forget to check out the links down below in the description. As well like always have an amazing day you guys and stay safe stay viligent and we'll see what happens within the market soon. I'll see y'all.

Tomorrow have a great one peace out.