Daily Breakdown - June 15, 2021

*links will not be included as the first post was removed. If you want any of the sources, just pm me ;)

Bullish breakdown:

• Bitcoin’s market capitalization is currently well above $700 billion while its dominance stands at around 44%. So far, it has managed to reach a local high of $41,100.

• According to a recent poll conducted by global fund administrator Intertrust, hedge fund executives project to increase their crypto holdings over the next five years. Experts predict crypto allocations to reach 7.2 percent by 2026, according to the survey first reported by Financial Times.

• Grayscale adds $2 billion in Bitcoin and other cryptocurrencies (Ethereum, LINK, Livepeer, Zcash, Litecoin, etc) over weekend

• Tunisia’s Finance Minister, Ali Kooli, stated bitcoin will be legalized in Tunisia, with the minister promising on national TV that he “will change the law, we cannot put a Tunisian young man in prison for buying Bitcoin.”

• Digital asset lending firm Celsius Network CEO Alex Mashinsky has said if more countries declare bitcoin a legal tender, the asset will likely soar to $160,000 in 2021.

• Ripple Scores Another Win Against SEC as Judge Leaves Its Lobbying Efforts Under Wrap

• A Russian State Duma member has blasted the central bank’s tough stance on the cryptocurrency industry for ignoring the growing demand for crypto in the country.

• MicroStrategy has filed an application for a $1 billion securities offering of its class A common stock, NASDAQ: MSTR. The company will use the money for “general corporate purpose, including the acquisition of Bitcoin.”

• Goldman Sachs plans to explore new realms beyond Bitcoin. The investment bank will begin offering ETH options and futures, according to a Bloomberg report.

• El Salvador's Minister of Labor and Social Welfare Rolando Castro says that the government is currently discussing whether companies should pay salaries in Bitcoin

• Africa has emerged as the region with the highest growth in P2P Bitcoin trading volume over the past six months, with nations on the continent experiencing 15%-30% expansion in the trade during the period.

• American billionaire Tim Draper predicts that bitcoin’s value will reach $250,000 by the end of 2022. He further explained that this primary cryptocurrency will be the core of all financial activities for the next 20-30 years.

Bearish breakdown:

• The Energy Administration in the Southwestern Chinese province of Yunnan today clarified that it has issued a notice ordering inspections of power use in cryptocurrency mining.

• Hall of Fame investor Richard Bernstein has warned that bitcoin is in a bear market. (Richard is the CEO and CIO of Richard Bernstein Advisors. A management fund that manages $4.7 billion and provides investment advisory services to over 10,000 clients).

• Bank of England boss Andrew Bailey has pledged “tough love” as policymakers look to regulate cryptocurrencies, warning that public interest must not be ignored for the sake of innovation.

• CryptoQuant CEO Ki Young Ju is issuing a warning to crypto traders as he unveils signals indicating that deep-pocketed investors are expecting a decline in the value of BTC.

• Digital Currency Group CEO Barry Silbert recently tweeted that 99 percent of cryptocurrencies are "overpriced."

Here is a roundup of the news so far. I will be adding to the list as more comes news. A lot of you were happy with my first daily breakdown post, so I decided to keep the ball rolling. Long live the bulls!