Good Morning Crypto Enthusiasts!

Glad to have you back for another edition of the UseTheBitcoin.com newsletter.

1. EigenLayer 'Major Update': Eigen Labs released a significant update to EigenLayer, improving its Ethereum restaking protocol. The update enhances the flexibility of reinvesting rewards using optimized EigenPods, allowing beacon chain ETH to be restaked automatically.

2. Trump Family’s DeFi Project Goals: The Trump family's crypto venture, World Liberty Financial, announced plans to promote the mass adoption of US dollar-pegged stablecoins to secure America's financial dominance in DeFi.

3. 📈Technical Analysis Masterclass - As of now, Bitcoin is hovering around $58,000 after yesterday’s sharp drop. Watch UseTheBitcoin’s latest Youtube video “Is the Selling Pressure Finally Over?” to know what’s up with the market and your next move or join our Official Telegram Channel for more alpha!

4. Sen. Warren to Debate John Deaton: Senator Elizabeth Warren will participate in two debates with Republican Senate candidate John Deaton, a vocal crypto advocate, leading up to the Massachusetts US Senate election.

5. 💡Feature of the Day - Swiss Bank BTC and ETH Trading Services: Zurich Cantonal Bank (ZKB), Switzerland’s fourth-largest bank, launched Bitcoin and Ether trading and custody services for its clients.

    
   All this and more in today’s headlines!

📰 News Highlights:

EigenLayer 'Major Update' [Source][Source][Source]

Eigen Labs, the creator of EigenLayer, has released a significant update aimed at improving its restaking protocol. The upgrade, announced on September 4, focuses on making native Ether restaking easier and more rewarding for users.

By optimizing EigenPods, the restaking smart contracts used for staking Ethereum’s Beacon Chain ETH, users can now reinvest rewards more flexibly.

The new feature allows beacon chain rewards to be automatically restaked back into EigenLayer, thus enhancing the potential for restakers to earn additional rewards over time.

In addition to improving staking mechanics, EigenLayer has also upgraded its user interface to offer a smoother experience.

The restaking model has also expanded to include layer-2 scaling networks, providing more opportunities for native token restaking.

Trump Family’s DeFi Project Goals [Source][Source][Source][Source]

The Trump family’s crypto venture, World Liberty Financial, has teased plans to ensure the continued dominance of US dollar-pegged stablecoins in decentralized finance (DeFi).

In a September 4 statement, the project declared its intention to drive the mass adoption of stablecoins, helping to position the US dollar as the world's settlement currency for decades to come.

The family’s DeFi project aims to leverage stablecoins to protect America's financial influence amid rising global competition.

The platform has hinted at a potential collaboration with AAVE, a leading DeFi protocol, suggesting that it could be built on the Ethereum blockchain.

The project has faced challenges, including scam attempts and hacked social media accounts of Trump family members.

 📈Technical Analysis Masterclass:

Is the Selling Pressure Finally Over?

What Is an Imbalance?

• Imbalance: Occurs when a significant gap in prices forms due to market shocks like major news or unexpected sell-offs.

• Price Magnet: These gaps often attract prices to "fill" them, as traders and institutions aim to execute orders at these levels.

Current Situation

• Price Retracement: There’s a strong possibility Bitcoin could retrace back to the $57,300–$56,700 range to fill the imbalance before either finding support or continuing downward.

Long-Term Investor Opportunity

• Buy at a Discount: If Bitcoin revisits these levels, it could present a buying opportunity for long-term investors. You’d essentially be purchasing at a lower price compared to recent highs.

Short-Term Trading Strategy

• Break Key Support: If you're trading Bitcoin short-term, wait for the market to break key support levels before entering a short position. Breaking support usually signals further downward momentum.

• Risk Management: Always set a stop-loss to protect against unexpected price reversals.

Sen. Warren to Debate John Deaton [Source][Source][Source]

Senator Elizabeth Warren has agreed to two debates with Republican Senate candidate John Deaton in the lead-up to the November election for Massachusetts’ US Senate seat.

Deaton, who won the Republican primary on September 3, is a prominent advocate for the crypto industry, having supported companies like Ripple in legal battles with the US Securities and Exchange Commission (SEC).

While Warren’s campaign has not indicated that cryptocurrency will be a debate topic, Deaton has challenged her to five single-issue debates covering topics like the economy and foreign policy.

Warren, a known crypto critic, has frequently raised concerns about the potential for digital assets to facilitate illicit activities.

Meanwhile, Deaton has continued to accuse Warren of fostering an "anti-innovation culture" through her positions on digital assets and SEC enforcement actions.

💡 Feature of the Day:

Swiss Bank BTC and ETH Trading Services [Source][Source][Source]

Zurich Cantonal Bank (ZKB), Switzerland’s fourth-largest bank, has launched Bitcoin and Ether trading and custody services for its customers.

The bank’s new offering, announced on September 4, allows clients to trade cryptocurrencies directly through ZKB’s eBanking and Mobile Banking platforms.

ZKB will also handle the secure storage of customers' private keys, removing the need for users to manage their own crypto wallets.

The new service is available to both individual customers and third-party banks, with Thurgauer Kantonalbank being the first bank to utilize ZKB’s business-to-business (B2B) solution.

ZKB’s crypto trades will be facilitated through Crypto Finance AG, a subsidiary of Deutsche Börse Group.

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😂 Crypto Meme of the Day: 

And that’s it for this today.

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See you all tomorrow’s edition!

Jonathan Gibson
UseTheBitcoin.com