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Cryptocurrency market overview | May 22 🧙‍♂️ Market cap: $2.72 trillion (-0.54%) 🧙‍♂️ BTC dominance: 50.54% (-1.17%) 🧙‍♂️ Fear and Greed Index: 76 (extreme greed)

Cryptocurrency market overview |  May 22
 🧙‍♂️ Market cap: $2.72 trillion (-0.54%)
 🧙‍♂️ BTC dominance: 50.54% (-1.17%)
 🧙‍♂️ Fear and Greed Index: 76 (extreme greed)

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50-Year-Old Analyst: The Biggest Rally in History May Be Beginning in Bitcoin (BTC)! Peter Brandt, who has been actively involved in the financial markets for many years, also comments on the crypto market from time to time. Brandt, who focuses more on the leading cryptocurrency #Bitcoin (BTC), recently shared a new BTC analysis. In his latest analysis, Peter Brandt found that the major Bitcoin chart resembles the Dow Jones Industrial Average (DJIA). According to Brandt, if this similarity comes true, a giant upward adventure will begin in BTC. Underlining that #Bitcoin still cannot exceed the 2017 peak in the dollar supply chart, Brandt said the following on the subject: “The main idea in Bitcoin is based on the ultimate destruction of fiat currencies (for example, the US dollar). The chart below shows the price of Bitcoin (BTC) in relation to the US total money stock (M1). This rate is still below the December 2017 peak. The similarities in the chart structure to the Dow Jones Industrial Average (DJIA) during the Great Recession of the 1970s are striking. I will continue to take this TOBO similarity into consideration. Schabacker (1934) and Edwards and Magee (1948) nominally accept this model (Reverse Shoulder Head Shoulder). "If this formation is good enough for them, it's good enough for me." $BTC $ETH

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112 Million Dollar Purchase Received from #Dogecoin Whales! In his X post dated May 31, Ali Martinez included the massive purchase of #Dogecoin whales. According to data presented by Martinez, whales have purchased more than 700 million #DOGE worth $112 million in the last 72 hours: Dogecoin whales purchased over 700 million DOGE worth approximately $112 million in the last 72 hours! This large purchase made by whales after a long time revealed their bullish expectations. While DOGE's 24-hour trading volume reached 650 million dollars, there was no noticeable increase in price. According to CoinGecko data, #DOGE , which has increased by 0.6% in the last 24 hours, is traded at $ 0.1611 at the time of writing. $BTC $DOGE

Analysis Company Said, “We Are Bearish for #Bitcoin , Bullish for #Ethereum ” and Explained the Reason. In a recently published analysis by cryptocurrency analysis firm QCP, the company expressed a bearish outlook for Bitcoin (BTC) and a bullish outlook for #Ethereum (ETH). QCP highlighted potential supply pressures on Bitcoin from two main sources. The first of these is the famous Mt. Distribution expected from Gox bankruptcy case. The second source is the recent DMM hack, which could result in additional supply of approximately $305 million. Mt. Gox case is a long-standing issue in the Bitcoin community, and the potential distribution of recovered Bitcoins is a significant event that could impact the market. Similarly, the recent DMM attack has increased potential supply pressure on Bitcoin. On the other hand, QCP expressed a bullish outlook for #Ethereum . The firm predicts that Ethereum spot ETFs may begin trading earlier than expected in June. This follows the US Securities and Exchange Commission (SEC) urging applicants to submit S-1 forms by May 31. QCP believes this development could catch a sleepy market off guard, and its bets are on the bullish side, especially for Ethereum. According to analysts, the launch of Ethereum spot ETFs could potentially increase demand for Ethereum, providing a positive boost to its price. $BTC $ETH

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