With bitcoin stabilizing at over thirty thousand dollars this past weekend, we experienced a pretty strong start to the week. So far, the setup for the long-awaited spring in the y cough accumulation charts is looking very promising, and this week this week's gon na be very important to get a gauge on whether or not we're still on track to end this year. Strong. So in this video we'll be taking a look at the overall crypto market.

We'll also be talking about some crypto news regarding some major countries like uk, possibly banning bitcoin and some other very important crypto news that you need to know about right now, like the usual, don't forget to smash that like button down below. If you appreciate the research and time that i put into these market update videos just for you and don't forget to check out blockfy where you can get up to nine percent apy on your crypto and earn fifteen dollars in free bitcoin, once you deposit a hundred Dollars into the app now with all that being said, you guys, let's hop into the computer and see what's happening in the market for today. So the global crypto market cap for today is at one point, four trillion dollars or a two point. Four nine percent increase over the last day, bitcoin is currently at thirty.

Four thousand four hundred three dollars and ethereum is currently at two thousand ninety nine dollars now earlier today we started the day off very, very strong, and you can see even with ethereum. We were at close to 2100 at the all-time high breaking past that before having a bit of a pullback to where we are still over two thousand dollars, which is looking great to start out the week in terms of 24 increases, we had kusama go up 25. Today, compound up 22.9, today, bitcoin sv up 19.86 percent today, an internet computer. Finally getting some action up 19.

So if you guys knew anything about icp, this was one of the cryptos that had a near 90 drop since it was released onto coinbase and was listed onto the major exchanges. Now this is the first time that we're getting a signal that the bottom was in. So icp had hit a low of under 30 even near 24 on certain exchanges. So it's good to see that this cryptocurrency is finally getting picked up and we're starting to see a little bit of recovery, because if you guys are anything like me, icp has been hurting.

Bad dogecoin is back up 44 in the last seven days, and cardano is back up 11 in the last week, but still seeing more considerable sideways action. Just in the last 24 hours in terms of major losers, we really don't have any the lowest coin. That has dipped down on the top 100 charts is quant only down 7.62 percent, but still up 31 for the week harmony. One is down 3.3, while amp is down 2.45 and overall to start out the end of june.

It looks like today is looking very good. So earlier today, binance the world's largest cryptocurrency exchange, gets supposedly banned by uk regulators. So britain's financial conduct authority said that binance markets limited is not permitted to undertake any regulated activity in the uk from june 30th. Binance must notify uk users of the fca's registrations in a prominent place on its websites and apps.

It's the latest sign of a growing crackdown on the cryptocurrency market from regulators all around the world, so binance marketed limited, is not necessarily the entire binance group. Where you go on binance.com and if you're out of the states out of the us and you're able to trade these cryptocurrencies, this is not what they are banning. So there's going to be a lot of immediate fud, any type of mainstream media that can get their hands on this publication, or this news they're just going to completely outright and blatantly say the uk is banning cryptocurrency when in reality this is not even part of The main binance website, the binance markets limited, was going to be in addition to the uk branch, where they're gon na allow additional options like futures traded, just any type of leveraged trading. So is the supposed uk ban anything considerable that we should be worried about? In my honest opinion, i really think this is just a load of fud that comes along the chinese flood that we get, and even some of the fud that we saw with other countries just as an example with india.

So if you guys don't know, india had a lot of beef with cryptocurrency just in the past few months earlier this year, we can get many articles talking about a proposed ban on cryptocurrency and anyone trading in the country or even holding such digital assets would get In a lot of trouble, now it's really fascinating about all of this is that there was a recent report that was published earlier today as well that crypto investments in the country of india have surged to 40 billion dollars from 200 million dollars a year ago. So that's over a 1900 increase, more than 15 million indians are now trading crypto, roughly 8 million fewer than in the us, and many more than the uk's 2.3 million. According to the report, they state, despite the regulatory roller coaster indians, have faced from the country's central banks, courts and political corridors. Crypto is beginning to take root in the country of 1.33 billion.

As time goes on, we will hear more and more countries trying to regulate the adoption of cryptocurrency. But overall, this has no significant impact on the trajectory of where we're headed with not only the price of cryptocurrency but the overall adoption and the fact of many other users from people all around the world still continuing to use this on a day-to-day basis. Now, on the topic of countries opposing cryptocurrency and trying to ban it, we do have other countries in the world that are doing quite the contrary and adopting cryptocurrency more and more. If you guys remember a little, while back el salvador released a public statement making bitcoin legal tender for their country, we also had other countries following suit.

As an example paraguay, which remember guys july, they said they were going to legislate. So, on top of paraguay, we have other additional countries in south america, brazil was one of them and many more to come. We know that bitcoin also opens up the opportunity for other countries to start catching up and finding equilibrium in this world. We live in now, on top of that, you guys a bitcoin mining hash rate drops to a one year low, with the difficulty set for 25 percent decrease.

If you don't know what a hash rate is. This is just a measure of the computational power working to secure the blockchain network and it fell to 94 ehs on sunday, the lowest since may 2020. According to data from glass, node, now we're finally experiencing the hash rate decline due to the chinese crackdown that we talked about just a few weeks back the big question that i know a lot of people have, though, is brian. Does this make any type of difference? Can the hash rate go up or down does that matter at all? So when it comes to the hash rate, there really isn't too much bad news at all.

When the hash rate drops bitcoin's difficulty sets to whatever matches what we need during that time, meaning the amount of bitcoin that needs to get mined if there isn't enough computational power. During that specific time. In order to process these transactions, bitcoin will naturally set their difficulty rate to the appropriate measures in order to make sure that everything flows, naturally with the bitcoin mining hash rate dropping down low. This really isn't a bad sign either or a good sign at all, but for anyone who is mining bitcoin, this would be considered good news because you are losing out on that difficulty and you may be able to mine bitcoin a lot easier, thus improving their reward Rates but it may not come close, because bitcoin is still in that stagnant price range of less than forty thousand dollars and where bitcoin was just a few months back of past, sixty thousand dollars, you still may have made more money just because the mining reward rates Would have been higher, but this is just going to be more additional data that we need to wait and see to see how it's going to turn out.

So the good news about bitcoin that we do have to mention aside from the hash rates and all the country's announcements, is that, even though we're getting a little bit more fud on the side of uk, we haven't necessarily seen a huge drop in price, which is Really good news at the moment, this right now is lining up with the wyckoff accumulation spring that we have also been talking about and it's been setting us up where we are exiting facee and approaching phase d. Where is going to be a bullish side up? So i'm predicting that bitcoin is going to have a steady rise in price this coming week and going into july. But we still have to wait and see because i do believe we're not out of the clear yet and just because we ended this week. Strong doesn't mean that we're gon na be set up for a perfect future ahead of us.

We just got ta, wait and see, but i'm very optimistic of the next coming weeks. Now, aside from bitcoin, we have ethereum right here on our sheets and we've been heading in this, a slight downward decline over the past month and finally we're starting to see a little bit of a bounce back up. So why is ethereum starting to have a little bit of life? Is there any good news, and there actually is so on top of the fact that bitcoin is starting to get a little bit more foundation right now, ethereum has actually came out with additional news. Talking about the london hardcore so dubbed as the london hard fork, the upgrade expects to transform ethereum from an energy intensive proof-of-work network to a speedier eco-friendly proof-of-stake network.

The fork will introduce new ethereum improvement protocols eip that propose to make its fee structure cheaper and its blockchain more scalable to handle a higher number of transactions. The two issues have acted as bottlenecks for ethereum's adoption, even as it remains the highest utilized blockchain across the booming stablecoin and d5 sector. So i know ethereum hasn't really been talked about in the past few months as much just because bitcoin has still been the primary focus of many technical analysis, but you guys do need to keep in mind this reason right here why ethereum is still a very important Cryptocurrency to keep your eye out in the past, we've talked about how ethereum could possibly go through the flipping where it surpasses bitcoin in both price market cap or even volume. One day now, bitcoin is in that bullish territory, where it has the possibility of reaching all-time highs close to before.

You can definitely expect ethereum to break last all-time highs and spring back even higher than before. So, with ethereum currently sitting at a price of two thousand dollars, i do believe that in the next few months, if bitcoin does continue to get traction, it would not be out of the realm a possibility at all for ethereum to surpass four thousand dollars and enter That five thousand dollar price range this week make sure you do keep an eye out on ethereum and my fundamentals for ethereum still hold any time. You see ethereum dipping under 1900 or even 1800. That is still an absolute steal where you can make a lot of money in this market.

Even just swing trading, these highs and these lows now we don't need to shoot straight for the moon of these all-time highs. That would experience a few months back, but even if you look just short term with a lot of these cryptocurrencies, you can still find yourself making a solid profit all right guys. So if you made it all the way till the very end of the video comment down with a secret phrase, word that's going to be minerals comment down minerals down below, if you all made it till the end. On top of that, you guys don't forget to check out the links down below in the description.

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