So with the federal open market committee holding its two-day closed-door meeting starting today, crypto traders and investors in the traditional markets will be watching closely for clues on the central bank's future plans. If you have been paying attention to this channel, something we have been reiterating since the beginning of this year - is that one thing that influences crypto a lot is going to be central bank policy. So it's officially been seven weeks since the federal government has raised those interest rates back in april federal reserve. Chairman jerome powell went ahead and hinted to the 50 basis, point rate hike back in may, which would be the first time in 22 years that the fed raised its benchmark rate by half a point now keep in mind.

This also comes at a time where, just yesterday, the s p 500 fell to a new record low for the year as the 10-year treasury yield hit 3 for the first time since 2018.. Also on monday, european stocks also took a plummet during the first few minutes of trading, which caused some exchanges to briefly halt trading. On top of that gold, a traditional, safe haven was also down on monday. It looks like all equity seem to be going down.

Will bitcoin other all coins and even the mnft market continue to go down as well, my god in today's video we'll be able to cover bitcoin's price action and charts which are actually showing surprisingly, some bullish signals, as well as some other major crypto headlines in the Market for today now, if you are enjoying these daily market updates, don't forget to like this video down below 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. All right so global crypto market cap sitting at 1.73 trillion dollars or down about 0.24 decrease over the last day, seen a little less volume since yesterday within the markets and we're seeing bitcoin's dominance currently sitting at a 42. So the market today outside of crypto, has been trading pretty sideways, with the spy currently at a point, four percent gain and the nasdaq 100 trading at a 0.5 gain.

So overall, this isn't much terrible news within the market at all. Considering the fact that we have the fomc meeting happening later today, now going into the four-hour bitcoin charts for some short-term price predictions, here's what we're seeing for the past 24 hours bitcoin's actually been trying to go above that 20-day moving average. But it's acting as a clear sign of resistance. What's really interesting about the four-hour chart is looking at the rsi technical indicator down below since april 20th.

The rsi has actually been hovering beneath the blue trend line drawn down below, but it also continues to test that level and it still has not yet broken through now. If the rsi breaks above that trend level or if we see bitcoin, continue to increase, then we would likely see that 40 000 resistance level getting tested once again. If the rsi fails to break through, we could expect to see another pitfall of bitcoin hitting 37 000. Once again now, furthermore, the chart down below is also showing something called a bullish: divergence between the rsi and bitcoin's price action.

These typically indicate a reversal and a potential bullish leg ahead, increasing the probability of a breakthrough from the stated trend line. Now, if you don't really know what that means in simple terms, divergence is when the price of an asset is moving in a different direction than other correlated instruments or indicators. Now, in this example here down below we're using the ta indicator, rsi, if you look at rsi's bottom orange line right here, the indicator is consistently making higher lows at the same time that bitcoin's price is making lower lows. The best case scenario here is that if the bullish divergence holds any type of substance, then we could be seeing a turning point for bitcoin, as the price goes up now, according to coindesk in one of their market wrap-ups, they even state here bitcoin, the world's largest Crypto by market cap declined by less than most of the alternative, cryptos, also known as all coins within the last month, indicating an overall lower appetite for risk among traders.

So the chart on your screen actually shows the bitcoin dominance ratio or the ratio of bitcoin's market cap relative to the total crypto market cap. So this ratio has been stuck in a year-long range, pretty much sitting at about that 40 percent. What normally happens is when the bitcoin dominance ratio declines during risk on periods as all coin seasons start stirring up. This is when, during those down markets, the ratio rises as bitcoin experiences, less selling pressure than alts.

So this goes back into something called the altcoin season indicator, which also gives us an index of what season. It is right now it's clearly showing us leading more towards bitcoin and that's because a lot of the all coins have been getting wrecked, while bitcoin is still trading rather flat. If we take a look at this graph, though you'll notice that we did experience a few all coin seasons where we were seeing tremendous amounts of gains where bitcoin was still getting underperformed compared to other altcoins in the market now, what's most interesting, though, is about this Chart right here, the top 50 performance over the last 90 days. All coins have been getting murked out here and we have bitcoin still holding rather 10 gains in the last three months, with many all coins bleeding more in the red.

A lot of this is also reflected within the crypto fear and grade index, seeing some fear happening today within the markets as well. I will say this when bitcoin goes down or trades flat and all coins go down even more. This is where a lot of that opportunity opens up where a potential buy in the market happens. A lot of retail investors tend to get scared during these times, where they see even more red coming about, but this is really when you should be excited within the markets.

You should consider averaging in because many people tend to actually invest near the all-time highs. Don't move like the entire pack try to take the moves that many whales would do, and this is following the ideology of finding the whales move like the whales and even though we might be some little plankton out here, we can still replicate some of these trading Strategies that they may have in order to also increase our opportunities in making money in this market now a lot of the questions that i've been seeing is brian. Well, what do i do, then? If my entire investment is down, i have some all coins that are down about 20. 30.

40. Should i be selling it now? I need this money. Well, let me answer that, for you, a lot of people get into the crypto space for one reason, and that is to make as much money as possible, but people oftentimes don't realize how much utility occurs beneath these projects. Take as an example, if i was holding huge bags, which i actually do with solana, which is down about ten percent still under a hundred dollars, what i would be doing is this: these crypto projects aren't just made for us to trade and make money they're created.

So we can have that utility and for us to find purpose, i could go ahead and use my solana to buy some other nfts to recoup those losses or to find another investment within the space. Furthermore, if i'm holding onto bags that are in a loss, then i would even look into staking those cryptocurrencies as well. Here on your screen, i have terra station pulled up, which is going to be a dashboard, showing us how much we can earn from actually staking our terra as well. If you happen to be in the situation where most people are where they're down on those high cap or mid mid-tier, all coins find utility do the work? If you have thousands of dollars find ways that you can earn, rewards staking it or find ways that you can continue to use the utility behind the reason why that project was created now going into some of our big winners.

For today, we actually have algorithm, which is still up about 11.79 percent today, and the reason for this it is here so al grant had this massive pump occurring because they were listed as one of the official blockchain platforms for fifa, the popular soccer organization. According to this issuance of a press release by fifa, they stated this agreement means algorand will become the official blockchain platform of fifa and provide the official blockchain supported wallet solution and assist fifa in further developing its digital asset strategy. Now this also comes in a month where, after march 22nd 2022, fifa also announced a sponsorship deal with crypto.com in the fifa 2022 world cup in qatar. Now we'll talk more about crypto.com because they actually took a big big tumble, but we'll talk about something that they are trying to do in order to recover some of those losses before we do.

If you have never heard of algrand before this is actually a permissionless, pure proof of stake, blockchain that ensures full participation, protection and speed within a true decentralized network. Now al grant's goal is pretty simple: they actually aim to just remove a lot of those technical barriers that have undermined mainstream blockchain adoption decentralization scale and security. Now partnering with fifa is no small deal by any chance. This is actually major news.

Back in 2018, fifa went ahead and generated more than 4.6 billion dollars in revenue, where a significant amount of that actually came from the 2018 world cup as well. Now this news definitely pumped up algorithm, but if we pull it back to the all-time charts, i mean it really hasn't done a huge dent compared to some of the all-time figures that we've seen it hit, which was over two dollars for an altcoin to go to Two dollars, but still sitting at point, sixty six cents, i'm not sure if uh this would be considered amazing news but hey pulling it into uh. The short term i mean seeing any type of green in the market is not bad. This catalyst here also gave al grant a huge pump that allowed the price to break through the 20 moving average, but since then it has retraced many of those gains now, on top of that, crypto.com token is actually up about 2.47 percent.

If we pull it back to the one week, you'll notice, they took a strong tumble. This wasn't a huge recovery in the market, but i actually opened up my email because i am a holder with one of their visa cards and they gave me this message right here. They stated dear valued customer over the past 24 hours. Our community has been very vocal about our changes to the card program.

We've always listened to our community's feedback, and today is no exception. As a result, instead of eliminating card staking rewards completely we'll offer a more balanced approach. Obsidian icy white frosted rose gold, jade green and royal indigo card holders with an active six month. Stake who staked before the may 1st 2022 day will continue to earn card cro staking rewards at the current rate until their 180-day stake expires.

Now, after that happens, they state the revised rates will apply. But i guess this did bring a little bit of alleviation into the market, taking a look at that same blog, post, you'll notice that they actually did make a little bit of an edit, and where is it? It is right here with the revision of their cro staking rewards. Now i don't think this here is enough for us to see cro take a bounce back up, and i wouldn't necessarily say that this crypto is completely dead in its entirety. We've seen major changes happen with a lot of these exchanges that people weren't happy about, but long-term growth.

It really never affected it too. Much. Do you guys remember when youtube took away the dislike button? Everyone is hating on it. Everyone has, but over time, people got used to it and it seems like, even within the crypto space we have times where they adjust the rewards.

The apy staking goes down. We've seen this happening with a lot of these other interest, bearing accounts, and i think crypto.com right now is trying to make those adjustments, but also trying to meet people right in the middle ground. Let me know how you guys feel about their recent announcement if it makes any difference or if it's still just a kind of like a piece of news all right. So in other news we actually got a headline that robin hood net revenue slid down below 43 with crypto trading down about 39 as well.

This comes from less than a week ago, when robinhood announced that they'd be laying off about nine percent of their entire labor force. Taking a look at the earning reports from quarter one, what we're seeing from the data is that it looks like they're falling out of favor with a lot of the retail investors for their quarter. One revenue, their q1 report here actually states that the company's total net revenue was 299 million dollars or a 43 decrease from 522 million dollars in the first quarter of 2021.. Now transaction based revenue from trading cryptocurrencies was also down about 39 to going into 54 million dollars for their revenue now for robinhood, this was the company's fifth consecutive quarterly drop and a lot of people are wondering well, what's going on with them, keep in mind this Time about one year ago, stocks were near its all-time high.

We had an entire frenzy happening with gamestop and amc, and then we even had dogecoin, which accounted for a significant portion of the company's revenue. Last year. Robin hood did a absolute terrible job last year when they went ahead and shut down a lot of those orders. People had the whole pitchforks out, they were going after robin hood and since then it seems like a lot of people just aren't interested in them.

In the past a year or so, we've had way more other exchanges, stepping up like ftx coinbase and even more, this actually segs waste pretty well. I think this is a good time to throw in our sponsor ftx for this video i think ftx has been doing an incredible job and with them you could actually find yourself trading crypto with up to 85 lower fees than their top competitors. There's no fixed minimum fees, no ach transaction fees and you can also set up reoccurring, buys directly from within the app. If you didn't know, ftx is also launching a stock trading platform, so if you're not just into crypto, but you also want to diversify your own portfolio, they have that easy accessibility to do that as well.

On top of that, the best thing here is this: if you sign up using code jung down below depending on how much you deposit into the app you can find yourself earning a maximum of a free 100, if you want to get started check out the link Down below in the description and don't forget for every crypto trade, you do that's over ten dollars. You can find yourself earning free crypto as well now, in terms of our next headline. For today, we actually got two argentinian based banks, adding crypto trading to their platforms. So these two banks are going to be banco, galicia and brewbank, which are two of argentinians largest banks.

Now these banks are really starting to embrace crypto and they're gon na allow their customers to begin purchasing four crypto assets, including bitcoin, through their accounts at the bank. There was also a report done by bloomberg, which came out with an interesting survey that a resounding 60 of respondents to an argentinian poll asked for more access to crypto, which also gives us an example of how much demand is happening all around the world. Now this south american nation actually has the sixth highest crypto adoption rate in the world from a data and survey firm statistica, which shows and estimates that 21 of argentinians had used or owned crypto by 2021.. Now the other bank bg is allowing people to purchase bitcoin, ethereum usdc, which is stablecoin and also believe it or not.

Xrp. This here is just such amazing news, because we're seeing every single day it seems almost like it's every single day we have some country some bank, some massive entity that is entering the space and allowing their customers to buy crypto compared to how the sentiment was about. Last year, when a lot of these large banks were still calling crypto a scam, it wasn't going anywhere right now we're getting so many more headlines that banks are allowing for us to be able to have more accessibility to crypto, but at the same time, we're not Seeing the price of bitcoin doing any better, i think there is something up with that and my weakness is pulsing and it's telling me something exciting might happen soon. Now.

One piece of news i wanted to cover was actually the luxury gym, equinox, actually stating they're gon na start accepting cryptocurrency for their payments. If you didn't know, this is one of the most popular gyms that are around in the maryland area. There's a few equinoxes all my bougie friends will go there. They have these eucalyptic, like mint towels, that they keep in the refrigerator and then after you're done with your workout you're supposed to like put your face in it and breathe, and then it's just i've done it once i did it when i was in la for Vacation and uh it was nice, it was pretty cool, so what's fascinating about all.

This is that they actually stated they're gon na start accepting cryptocurrency using bitpay. Now i will say: equinox is not a cheap gym at all. Some of their customers pay up to 500 per month in order to get access to some of their premium features such as empty locker rooms and full body showers with temperature control. Now, although this may not be a huge catalyst within the market, i don't think uh.

Equinox saying that they're gon na start, accepting crypto is gon na like send bitcoin back into a all-time bull run. But i will say this: if you go to equinox, it is pretty cool. I think it's a flex if you pull up there with your bitcoin and you're, like okay, uh manager, buddy jim, i'm ready to pay for this month's uh membership. Here's my bitcoin, maybe maybe it's not that cool! Maybe i thought it was cool because i think crypto is cool.

Maybe it's not cool. Actually, now guys. Hopefully you enjoyed today's market update. If you did don't forget to drop a like down below the like, really helps me out if y'all, if y'all have not done the like button thing, you know.

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Follow you they're gon na slide into your dms and try to scam me for money. So be careful on that within the past month i've been able to make hundreds of thousands of dollars. My portfolio has now it finally surpassed the one million dollar mark um about a month back. So a lot of people within our discord have been having so much fun, just seeing all these updates and knowing what's coming next, if you guys want to have an opportunity of joining our group as well, this is an exclusive premier discord where you can get access To my research, my portfolio, my buy and sell alerts, you can also get technical analysis from some of our best advisors, as well as access to a community of other investors check out the patreon link down below it is sold out at the moment, but we are Planning to open up spots soon later this weekend, don't forget to check out surf shark vpn, where you can find yourself getting 83 off for three months, free using them a lot of people.

Don't have good security, a lot of them don't use vpns. If you want to have access to certain exchanges, protect your crypto, protect your identity check out surfshark check out this vpn. I've had this discount code for a long time and it's been helping out so many people. It is in the description below too one more thing.

I did not do today's code word if you guys are watching this code word for today comment down below microphone if y'all are watching this, because i got a microphone with the microphone anyways. Thank you all so much for watching today's video love. Y'All talk to y'all. Soon, peace,.

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