We head into the most significant. Week so far in 2022 for the us. Markets. Markets.

Bitcoin has dropped below its critical support level at the 200 weekly moving average'll be recapping. What macroeconomic events are taking place this week that could either move bitcoin in the upward direction or it could show us a huge drop on top of that we'll be covering everything you need to know with regards to ftx's bailout offer to the bankrupt crypto lender voyager digital now if you all are vibing to these daily market updates be sure to like this video down below subscribe if for some reason. Y'all. Have not joined at that jungle gang and with that being said.

Let's hop into the computer. And see what's going on in the market for today. Real. Quick.

Let's talk about bitcoin bitcoin is setting the stage for pretty much everything all coins are not gonna move. Unless. Bitcoin has a drastic move too and so far for the end of the day on monday. Bitcoin is down over at least three percent in the past 24 hours.

And is currently trading below the 22 000. Mark. The global crypto market cap is just above the 1 trillion mark. But like i said we are seeing a bit of a decrease in volume and across that we are seeing a lot of the other all coins not getting murked.

We're not seeing them completely dropping down. But we are having a bit of a red day with that being said. Though there are still some all coins in the green uniswap is up five percent trust token is up about six percent and in the last seven days. There is still some cryptocurrency holding those gains too now focusing a bit more back onto bitcoin if we take a look at the four hour chart.

The rsi has now dropped back to the 30s and is nearing those oversold territories. Once again bitcoin is also trading below the 50 and the 200 ema. But also found support at the 100 ema or that blue line on your screen on the weekly charts. Though we are seeing a bit of a different story play out bitcoin closed out a green candle yesterday that gained over eight percent for the end of the week.

Bitcoin is now back below the 200 moving average. Which is the fundamental support and resistance level for these charts. Now ladies and gents this week will play a significant role in bitcoin's price levels and the macro economic catalyst could also bring bitcoin back to the 28 000. To even 30 000.

Levels or we could also see it come back down. Below. The 20 000. Level.

Once again either way with last week being pretty strong in the green. I think this week is going to be one that you want to pay attention to and we'll be talking about exactly what those catalysts are and why bitcoin may see such a huge upside or even downside now head to the big week for traditional markets. The wall street indexes. Today are fairly neutral.

The s. P. 500. Is up about 08.

Percent. The nasdaq dropped point seven percent and the dow jones is up one point. Thirty two percent well. That's a recap of the numbers nothing too crazy so far.

But let's actually focus on what's coming ahead. What is this week. All about so this will be the most significant week. Possibly of 2022.

Just because we have the current earnings season reports coming out with about a third of the s p 500. Companies that do for that reporting. So this is going to be the earnings week for giant companies like mcdonald's coca cola google. Microsoft ford apple amazon the list goes on and on on top of that investors are also watching what the federal government will say during its meeting on tuesday and wednesday.

Which is literally less than 24 hours from now and markets right now are expecting another 75 basis point rate hike from the central bank's policy makers as inflation continues to rip upwards. Now topping. That list is going to be the second quarter gdp report. Which is expected to be negative by many forecasters keep in mind guys two negative quarters in a row.

When confirmed with other negative declines in data which we've been seeing clearly is going to be the sign that the recession is here and our government is finally going to accept that news. So when that official data comes out we're going to be seeing a lot of headlines in the news and i do think. This is going to put a little bit of stress on the market. We're going to see a little bit of weight pulling things down.

But hopefully you know this is going to be a temporary dip and if it's not then we're still going to be able to have a better opportunity to continue buying up these assets. During this time. Now. The widely.

Watched atlanta fed. Gdp now is also tracking at a decline of 16. For the second quarter and we're just seeing more and more backing and reports from other institutions and reporters that the recession is indeed here now on top of that a few headlines that i wanted to cover. We actually got a interesting survey as interest rates right now are continuing to spike.

We're seeing the interest rates among other different markets such as credit cards going up too. So we got a survey that nearly 20 of americans right now are afraid to check their credit card statements as the interest rates approach an all time high so as most guys know most of my youtube background it came from the credit card market before i started diving deep into investing and into what we have what we had stimulus now we have credit or we have crypto right now when we're talking about credit cards. There's two different sides to it there's a side where credit card that users use credit cards they never carry debt they turn on automatic payments and they continue living their life. But then there are a majority of users who use credit cards to carry on debt to spend more money than they actually have and usually what ends up happening is you get fearful of checking those statements.

Now even if you have no credit card debt. I know what that feeling's like where you're unsure of what that bill is going to be and you just don't want to see that bank account going down well according to this survey let's break. Some news down the average credit card interest rate was 17 as of july 20th and right now we're seeing a record high of it near approaching 19. By the end of the year.

A report from upgraded points. Is also showing that nearly one in five americans right now are afraid to check their credit card statements. So this is because we got some more data that credit card balances have jumped about 71 billion dollars year over year and right now they're topping 841 billion dollars during the first quarter of 2022. So this is one of the metrics that i like to use to gauge whether or not consumer spending is high if that recession is still here.

And what your average consumer is looking to do well if we're getting data that right now credit card debt is going up. This is usually one of the first signs that people are either losing their jobs. They're spending more money during this time or the cost of daily goods is just continuing to go up regardless of whatever the exact reason is it sucks seeing that right now we are seeing similar effects of previous recessions. If you happen to be one of those struggling with credit card debt or right.

Now you're worried about where you're headed. Please. Know that you can actively take different precautions right now in order to pay no interest at all for the next. 12 to 24 months or you could protect your credit report.

Even throughout these dark. Times that are coming ahead. So just quick tips make sure that if you guys have not done. So already there are a ton of beginner credit cards.

Which are gonna offer you zero percent interest for anywhere from 12 to even 24 months. If you know that you have expenses coming up. And you want to decrease the amount of interest that you might have to pay you can always rotate your debt around now there's balance transfer credit cards. There are zero percent interest credit cards.

Where you can now start moving over those balances on there and then you can pay it off from there so you have zero percent interest or you can also look into the technique or strategy that i taught on youtube. Many times that credit card video on business credit cards got hundreds of thousands of views and that is where you start looking into setting up business setting up a sole proprietorship and then you get a business credit card and the benefit of that is a lot of them already have 12 to 24 months zero percent apr. But the additional benefit is that it does not report to your personal credit report. Now.

I know a lot of this is crypto related. But i know many of you guys are going to have some type of credit card and hopefully this news. Right here or this type of advice could at least help out just one person out here simply put just cut down your spending focus on increasing your income and look into a lot of the strategies that i've taught on youtube. And even just some of the takeaways that i mentioned now on top of that real quick twitter by the way is also canceling their month's quarterly earnings call last week.

Because of its ongoing litigation against billionaire elon musk. So even throughout this weekend. It looks like elon musk elon musk has been in the news a lot. He's you know there's a supposed alleged affair that happened right now and then on top of that you know he had his uh.

I don't even know what to call that his swimsuit body. And he was getting made fun of on twitter and all this stuff. But this seems to be some of the most important news with regards to how it ties into the financial markets. So it was stated given the pending acquisition of twitter by an affiliate of elon musk.

Twitter. Stated. We will not host. An earnings conference.

Call issue. A shareholder letter or provide financial guidance in conjunction with our second quarter 2022 earnings release pretty much what they're saying right now is their business has not been doing so well they're we're also blaming everything going on in ukraine. Right now. And also blaming elon musk to say they're not going to come out with an earnings call.

But i think what the reality of the situation currently is is that the twitter board is not looking to have any type of good news. They may be going down in revenue. They may be losing a lot of those active members once the talks of a lot of their users being spam accounts came up twitter has been a somewhat of a big player within the crypto space crypto twitter is where people get a lot of quick fast news updates. Breakdowns and i do think a lot of alpha still continues to exist on there.

Even amidst these bearish times with twitter being such a strong platform for the crypto industry and seeing that themselves as a platform is not doing well may share some type of coincidences of the financial markets. Not doing well or also just the state of the market that we're in where everything continues to drop now even though it looks like elon musk will not be taking over twitter and having that under and you know buying them out. I do think. It was pretty interesting to see them come up in the news and only time will tell where they're going to head next for the direction of their social media.

Platform. Now regardless of that though i wanna focus on what's happening next. I wanna talk a little bit one on one or one to thirty thousand. Let's just have a conversation.

Here where the markets are headed next. So chain analysis provides data software services and research to government agencies exchanges financial institutions insurance blah blah blah. They just pretty much provide like really good research to a lot of different companies. Well recently.

They came out with the state of the web. 3 report. This was over a 100 page report and a lot of good stuff was in here. Now.

I'm gonna give you guys. The tl. Dr. That we got from a blog here that also broke down this data.

So we don't have to spend 30 40 minutes of all this data. I'll just give you exactly what you need to know so far number. One decentralized exchanges have managed to do over one trillion dollars in volume for number two they have also 55 of volume of assets going towards exchanges number three. We got some data that nfts right now are still a crucial part of onboarding retail and the average wallet interacting with nfts has an age of 10 days compared to d5.

At 300 now although the nft market has had some pretty insane pops and diffs right now even though. Many people are pretty quiet within that market. We're still seeing a lot of transaction and a lot of volume stabilizing and we're seeing a lot of new retail. Investors still hopping on to the trend.

It's noted that nfts are also the fastest growing on chain fee paying segment up from 5 a year back to 25 over on ethereum now combined with the ethereum's merch. Which is still coming out this year. It's supposed to come out near september now right now i think if we're able to see the upgrades and we're able to see the market recover. I do think nfts could even blow up way more than they were before i know the nft market is something that a lot of people were hesitant on a lot of people were just having a lot of trouble getting into.

But let me tell you coming from that side of the investment markets. When the markets do well nfts are known to be a momentum of volatility following assets so when things go up when things start moving just a little bit nfts have been shown to exponentially grow. And i do think it's times like this where the markets are slow people aren't doing much it's where you can get into this you can start researching now. And you can prepare for when the market starts recovering on top of that we also got data that decentralized exchanges have terrifying power laws.

And the top five dexes command. 85 of the volume and on top of that we are seeing a lot of the same trend in lending platforms where ave and d5. Collectively command 90 of the capital move through lending platforms too so this also shows that there is a discrepancy when crypto was first created a lot of people were thinking this shouldn't be dependent on the balance sheet of some of these companies. But crypto should be equal it should be democratized for many many people.

But what we're seeing now is naturally. When people move over into crypto. We're still getting a lot of imbalances and that's where you may hear the term whales are moving the market giant giant whales are moving everything. It's because you still have a lot of rich players.

And when they own a majority of the market. They can control they can manipulate the price and ultimately that leads retail investors just like us sometimes down in the dirt. Now regardless. I do think just because everything is going down stocks are still down the watch market is down shoe market is going down car prices are coming down.

I think houses are going to hit next and i'll do like a full research video on that and give you guys that information over the course of this what next two weeks. But for now ladies and gents let's just focus on this number seven. We got news that fifty percent and report fifty percent of all assets taken from lending platforms are going to an exchange so people are putting them on an exchange they're moving over from lending. They do not want their crypto lended out just because the market is still very volatile very shaken up and it looks like a lot of people are moving from then exchanges and then we're also seeing exchanges go over into people's own cold storage hardware.

Wallets. It makes sense with all these exchanges going down at least choose an exchange that you can trust that you know has backing that is not going to go down and hold up your money and not allow you to pull it out number eight the average d5 related. Dow commands 100 million dollars in aum and 60 dows in total handling 6 billion dollars. We also got a report and some data that 85 of the dows tracked by chain analysis have their treasury in a single asset and usdc.

Right. Now is still more preferred than die for dows handling stable coins on top of that we also have sub 10 000. Transactions. Command.

Right now 90 of the frequency of transactions for nfts and there were over 750 000. Active buyers and sellers for nfts in the past quarter. So ladies and gents what is going to happen to the crypto market next. We got all this data coming from this report.

But we need to talk about how to move forward. How we can decipher through all this all these numbers and see how we can use this to our advantage. What's most clear at this time is even though we're seeing a dip within the market. We're still seeing a lot of volume coming through and we're still seeing some record highs being made yes.

It's clear to say that the previous bull run was largely fueled by a ton of speculation. A lot of new investors onboarding the boat and they got shaken out they had paper hands and they cut their losses. Really really easily what we're also seeing. Though is that there is use case for crypto and even during these bear markets.

People are finding ways to use crypto more often and still find the potential of that asset right now we're in some seriously tough macroeconomic conditions. And i think even if crypto was light years ahead. We saw the use case. We saw ethereum also having its merge and we're in a completely different place.

It's hard to beat the current circumstance of this recession. And how people are feeling sentimentally about the market according to the crypto fear and greed index we are still seeing fear we are still seeing a lot of people unwilling to enter the market and i don't blame them right now. There's simply no way to predict the market bottom. And there's always a possibility we could see it continuing to go down.

Even more what we can do as retail investors is to try and ignore just all the ups and downs and ignore what you may hear in the news and understand that these ups and downs are still a way for us to continue staircase climate up to a better future for this asset. I'm a firm believer that crypto's here to say i'm a firm believer that this asset is still going to outperform. Most markets within the industry and right now just like everything's down. We're in a cool down period.

And this is where you're able to find those deals place those bets and when things go up you're going to be very happy that you continue to double down. When everyone was still fearful now. I don't know an exact timeline when crypto is going to be back. I don't know if it's going to be back today tomorrow a month from now or even by the end of the year.

But i do think there's still going to be an opportunity we're going to be having a slight recovery. This is just my thoughts and at one point when we're able to start getting out of this hole start going back to normal conditions. We will see things moving up. And this is going to be the opportunity of a lifetime that you don't want to miss out on so if you're looking for an exchange to trade crypto.

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So. That is just going to be today's update make sure you guys look out for what's gonna happen this week. Especially if you guys are day trading or looking into the markets or putting in some more positions during this time. Now like always if you guys did enjoy.

Today's market update be sure to drop a like down below on this video. Follow me on twitter and on instagram. If you haven't done so already and on top of that the secret code word. It's raining.

All week in maryland weather's not looking good so comment down below moisture. If you guys made it all the way till the end. Thank you all so much for watching this video and until next time peace out.