Will China dump the dollar? How will BTC react? Crypto news! Bitcoin on-chain data analysis!

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🟢 #China #USD

China tells state banks to prepare for a massive dollar dump and yuan buying. Reuters reported that China told state-owned banks to get ready to sell dollars and buy yuan in an effort to prop up the local currency.

🔴 #Recession #Inflation

Citadel CEO Ken Griffin says inflation may have peaked but a recession is coming. “It’s a very uncertain time,” he began. “We are grappling with the threat of nuclear war in Ukraine. We’re grappling with unprecedented central bank interventions. We’re grappling with record-high inflation in the United States in our lifetimes. We’re in a very uncertain time for investors,” Griffin stressed.

⚪️ #Iran #CBDC

Iran has begun experimenting with a central bank digital currency (CBDC), launching a pilot scheme in partnership with two local banks.

⚪️ #Kazakhstan #CBDC

The first purchase of cryptocurrency with Kazakhstan’s local currency has been finalized. The President of Kazakhstan says further demand could likely result in full legal recognition of digital assets. The country will continue running a pilot program through this year to test demand and security.

🟢 #US #Bitcoin

Republican lawmakers drafted a bill enabling investment managers to offer bitcoin in personal pension account. The bill is likely to be presented following the midterm elections in November 2022.

🟢 #Survey

According to Bankrate’s September survey, 34% of young Americans (Generation Z) are comfortable with crypto investments. This is much more than baby boomers, in which only 11% of people who feel comfortable with crypto.

🟢 #Meta #NFT

Meta Opens NFT sharing on Instagram and Facebook to all US Users. Users in the U.S. can now connect their crypto wallets to Instagram. The feature currently supports collectibles from the Ethereum, Flow, and Polygon blockchains, with Solana support also on the horizon. Facebook and Instagram support wallet connections MetaMask, Dapper Wallet, Coinbase Wallet, Rainbow, and TrustWallet.

⚪️ #Meta #AI

A team of machine learning engineers from Facebook’s parent company Meta has unveiled a new system called Make-A-Video. This AI model allows users to type in a rough description of a scene, and it will generate a short video matching their text. The clips are no longer than five seconds and contain no audio but span a huge range of prompts.

⚪️ Machine learning #AI

Cassie the running robot achieves Guinness World Record in 100-meter dash in Oregon. While paling in comparison to a Usain Bolt (who holds the human world record at 9.58 seconds), Cassie’s time of 24.73 seconds is impressive considering it’s the first robot to use machine learning to control a running gait on outdoor terrain.

On-chain data

👉 Bitcoin Exchange Reserve
👉 Stablecoin Exchange Reserve
👉 Funding rates
👉 Open Interest
👉 SOPR
👉 LTH (Long Term Holders)
👉 STH (Short Term Holders)
👉 Fees
👉 NUPL (Net Unrealized Profit and Loss)
👉 The exchange Whale Ratio
👉 MA (Moving Average)
👉 RSI (Relative Strenght Index)

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