✅ The market continues its correction after a failed bullish attempt to consolidate above $70k for Bitcoin and reach $4k for Ethereum 📉

Day summary:

🔸 The United States Treasury Department has released its first-ever finance risk assessment for NFTs

🔸 NYSE announced a collaboration with CoinDesk indices to launch financial products tracking spot Bitcoin prices

🔸 BlackRock’s ETF became №1 largest spot Bitcoin ETF

🔸 JPMorgan Chase Bank in Youngstown, Ohio exploded 😬

🔸 judge has ordered the SEC to pay $1.8 million in its case against Debt Box

🔸 PayPal has announced that its stablecoin PYUSD is now available on the Solana

🔸 Pump .fun protocol has added live streaming as a feature 🎥

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #EarnFreeCrypto2024

After the Bitcoin halving, the average earnings of miners decreased by 59% to $30M/day, this was the biggest drop since miners migrated out of China in 2021 when crypto got banned there 📉

Mastercard launches "Crypto Credential," allowing users to send and receive crypto using a username instead of a wallet address 📬

Bank of Israel has announced the launch of the “Digital Shekel Challenge”, participants will access a prototype system to create digital shekel uses and develop CBDC payment solutions 🇮🇱

BlackRock filed an updated version of its spot Ethereum ETF S-1 application. Bloomberg analyst says end of June launch of ETF is possible 🤔

ARK Invest CEO Cathie Wood said crypto is now a U.S. election issue that is why key documents for the proposed ETFs were approved suddenly and unexpectedly 🇺🇸

🔹 Last 24 hours top 3 gainers:

Notcoin - $0.012 (↑33.01%)
Bitget Token - $1.32 (↑5.12%)
Monero - $143.15 (↑1.22%)

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #EarnFreeCrypto2024

Investors are slowly building up hedge positions 🔍

The chart above illustrates the skew index, which rises with increased buying of put options or selling of call options. This indicates a shift in market sentiment, as demand for hedges grows among investors seeking protection against potential downturns 📉

The recent rise in skew reflects heightened awareness of inflation and interest rate paths, signaling a cautious market. Fed communications about rate cuts are gaining importance, influencing perceptions of future risks among investors 👀
probably was 😅
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Just In : Mt. Gox cold wallet transferred 141,686 BTC (Approx $9.5 Billion) to the unmarked address.

Mt Gox will distribute its holdings of 142,000 BTC to creditors before October 31, 2024.

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #EarnFreeCrypto2024

✅ The market got scared by Mt. Gox transfers of over 140,000 bitcoins and the price of BTC declined by >4% in a day 😳

Day summary:

🔸 President of ETF Store thinks that the SEC will approve spot ETH ETF registration statements in the next few weeks

🔸 Former FTX executive was sentenced to 7.5 years in prison ⚖️

🔸 The European Securities and Markets Authority defines MEV as an example of illegal market abuse

🔸 Healthcare company Semler Scientific announced that it had purchased $40M worth of BTC 

🔸 Mt. Gox moved $9.62 billion worth of Bitcoin into a new wallet 🔍

🔸 Crypto ETFs could see over $100 billion of inflows broker Bernstein said in a research report
probably was 😅
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JPMorgan Chase Bank in Youngstown, Ohio exploded. The gas leak was the reason for the explosion. 7 victims are hospitalized, 2 went missing 😧

A US federal judge has ordered the SEC to pay legal fees of about $1.8 million in its case against Digital Licensing, the firm doing business as Debt Box ⚖️

PayPal has announced that its stablecoin PYUSD is now available on the Solana network, this is their first move outside of the Ethereum ⛓

BlackRock’s spot Bitcoin ETF recorded inflows of over $102 million on May 28, while Grayscale’s ETF bled again, now BlackRock is №1 largest Bitcoin ETF 📈

🔹 Last 24 hours top 3 gainers:

Celestia - $11.59 (↑8.67%)
Shiba Inu - $0.0000272 (↑6.40%)
Worldcoin - $4.91 (↑7.35%)

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #EarnFreeCrypto2024

Even healthcare companies are now buying Bitcoin 🏥

Semler Scientific announced that it had adopted bitcoins as its primary treasury reserve asset and purchased $40M worth of BTC 🛒

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #EarnFreeCrypto2024

Updated Bitcoin Daily Chart - Closest Support is $67,341

Updated Eth Chart (Daily Time Frame)

Here is Onchain & Marketcap comparsion Between Polygon, Arbitrum & Optimism

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #EarnFreeCrypto2024

🔼The $ETH balance on exchanges decreased to a six-year low signaling increased investor confidence.

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CDD takes the number of coins that have moved  on-chain at any given time and multiplies that value by the number of days since those coins were last moved. You can see the spike on the chart, this is because Mt. Gox moved $9.62 billion worth of Bitcoin into a new wallet 🔍

Solana validators will receive 100% of priority fees from transactions following a governance vote, aiming to improve network security and efficiency 💸

President of ETF Store thinks that SEC will approve spot ETH ETF registration statements in the next few weeks, 2-3 months maximum ⏳

The European Securities and Markets Authority defines Maximum Extractable Value (MEV) as a clear example of illegal market abuse in the MiCA draft 🇪🇺

🔹 Last 24 hours top 3 gainers:

Notcoin - $0.00966 (↑46.1%)
FLOKI - $0.000297 (↑14.5%)
dogwifhat - $3.57 (↑12.88%)

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #EarnFreeCrypto2024

✅ Bitcoin again tried to reach the $71,000 mark but fell back halfway, Ethereum failed to overcome sellers' resistance at $4,000 😶

Day summary:

🔸 Trump pledges to free Silk Road creator Ross Ulbricht if he gets re-elected

🔸 The founder and CEO of DeFiance Capital says that the price of ETH could rally to $4,500 very soon 👀

🔸 Caitlyn Jenner's X account started promoting Solana memecoins, many believe that account was hacked

🔸 Trader GCR X’s account was stolen by hackers, who used it to pump and dump ORDI coin

🔸 Argentinian regulators have been talking to their counterparts in El Salvador about Bitcoin adoption 🤝

🔸 Ethereum developers schedule Pectra upgrade for Q1 2025

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #EarnFreeCrypto2024

Top 7 token unlocks for this week 🔓

The total value of tokens unlocked this week will exceed $197.92 million which is not a lot at all, which, if not bullish is at least not bearish for alts 👇

• dYdX - $67.77M
• 1inch - $30.78M
• Portal - $26.59M
• Axelar - $24.28M
• Skale - $17.30M
• Biconomy - $16.47M
• Orbler - $14.73M

probably was 😅
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Donald Trump: "I will support the right to self-custody," adding that he will "keep [Sen. Elizabeth Warren] and her guuns away from your Bitcoin." He also promised to block any efforts to issue a CBDC. Crypto is becoming an increasingly political issue 😳

The founder and CEO of DeFiance Capital says that the price of ETH could rally to the $4,500 mark before the official approval of the first spot Ether exchange-traded funds ETFs 📈

American celebrity Caitlyn Jenner apparently launched a token on the Solana blockchain, but its legitimacy was questioned due to past celebrity X account compromises 🤨

Trader GCR X’s account was stolen by hackers, who used it to pump and dump ORDI causing the price to rise from around $38 to $44.5 in just a few minutes ☝️👇

🔹 Last 24 hours top 3 gainers:

FLOKI - $0.00027 (↑20.82%)
JasmyCoin - $0.025 (↑11.09%)
Synthetix Network - $3.11 (↑6.94%)

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #EarnFreeCrypto2024

✅ The week was volatile, what many people were waiting for happened - spot ETH ETFs were approved by the SEC, which led to a significant increase in the price of Ethereum, which can't be said about the rest of the market 😬

Weekly news digest:

💎 Crypto

🔸 The SEC approved spot Ethereum ETFs 

🔸 AllianceBernstein's analysts say ETH can rise to $6,600 if ETFs are approved
 
🔸 MetaMask could add Bitcoin support within the next month 🦊
 
🔸 Gala Games got exploited for nearly $214 million in GALA tokens

🔸 Uniswap Labs urges SEC to drop pending enforcement action in Wells response

🔸 Popular dog Kabosu, the face of dogecoin, and several other meme tokens, died

🔸 Memecoin Normie was attacked, and its price plummeted by more than 99% in one minute

🏦 Crypto exchanges

🔸 Bybit announced it will list zkSync token $ZK and change the Polyhedra trading ticket symbol because of that
 
🔸 Standard Chartered says that Solana and XRP spot ETFs are likely next up

💵 Finances and Economy

🔸 Asset manager Grayscale unveiled two new investment trusts
 
🔸 Joe Biden announced his latest student loan forgiveness plan by canceling $7.7 billion in debts for 160k borrowers
 
🔸 Microsoft unveiled the “designed for AI” Copilot+ PC
 
🔸 Apple has launched a discounting campaign in China, offering discounts of up to $318

🔸 JPMorgan agreed to pay $100 million over CFTC trade reporting violations

⚖️ Law and Order

🔸 United Arab Emirates issued an advisory to farmers prohibiting mining crypto on farms

🔸 US lawmakers voted in favor of a crypto market structure bill FIT21
 
🔸 US House passes bill to ban the Federal Reserve from creating a Central Bank Digital Currency

🔸 CEO of Grayscale resigns and will be replaced by Goldman Sachs executive
 
🔸 Iran's President Ebrahim Raisi died in a helicopter crash

🔸 Donald Trump vows to free Silk Road founder Ross Ulbricht from prison if re-elected

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #EarnFreeCrypto2024

How to use the Polarized Fractal Efficiency (PFE) indicator 📊

The Polarized Fractal Efficiency (PFE) indicator uses fractal geometry to check the efficiency of price movements, helping traders identify trends and potential reversals.

📈 A PFE value above zero indicates efficient upward movement, suggesting a potential bullish price action.

📉 A PFE value below zero indicates efficient downward movement, hinting at a potential bearish trend.

👉 When looking for a good trade, look for divergences between PFE and the price. If the price is making new highs and the PFE is not, it may signal weakening momentum and a potential reversal, and vice versa.

✔️ Use PFE with other indicators to confirm trends. Higher absolute PFE values suggest stronger trends, while lower values indicate weaker trends or sideways movements.

📌 Save for later and share with a friend!

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Bitcoin's recent RSI trends show parallels with the 2017 bull run, suggesting a potential major price breakout. If Bitcoin reaches $75,000, it could trigger significant upward momentum 📈

Veteran crypto market commentator Tom Lee says that Bitcoin is on track to hit $150,000 in 2024: “Bitcoin’s still, we think, early in an upcycle, so the idea that it could get to $150,000 this year is still within our base case" 🐮
probably was 😅
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A Solana developer recently took an extreme and dangerous approach to pump his bags 🫣

In a bizarre and reckless stunt, he set himself on fire during a livestream, using isopropyl alcohol and fireworks. This resulted in severe third-degree burns, landing him in the hospital.

The incident, which was meant to draw attention to his crypto meme coin, underscores the lengths to which some individuals will go to gain publicity out of greed 🤦‍♀️.
probably was 😅
#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #ScamRiskWarning

 Although the ETH ETF is already here, the price shows that everything is priced in and the market is in no hurry to rally on positive news 🤷‍♀️

Day summary:

🔸 United Arab Emirates issued an advisory to farmers prohibiting mining crypto on farms

🔸 Popular dog Kabosu, the face of dogecoin, and several other meme tokens, died

🔸 Bybit announced it will list zkSync token $ZK and change the Polyhedra trading ticket symbol because of that 😄

🔸 Standard Chartered says that Solana and XRP spot ETFs are likely next up

🔸 The Bitcoin whitepaper is back on Bitcoin.org after Craig Wright failed to prove in court that he’s Satoshi Nakamoto (he isn't)

🔸 European Data Protection Board says ChatGPT outputs too much false information to comply with rules 🇪🇺

🔸 JPMorgan agreed to pay $100 million over CFTC trade reporting violations

Miners are back! Bitcoin's 7-day hashrate reached 632 EH/s. This is an increase of 5.6% over the past 7 days ⛏

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #ScamRiskWarning

Chinese gold trading activity explodes 📈

With gold trading close to its ATH price, China's gold trading volumes have seen a huge surge, which is a very positive development for the precious metal 🥇

But why is this happening? Here are the main reasons 👇

• Anticipation of Fed rate cuts has boosted gold's appeal as a non-interest-bearing asset.

• Geopolitical tensions in Eastern Europe and the Middle East have reinforced gold's safe-haven status.

• China's central bank has been accumulating gold rapidly in recent years.

• Private and institutional demand for gold has risen sharply, partly due to concerns about the weakening property sector and sluggish economic growth. 

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions #ScamRiskWarning

💸Ethereum ETF approval will set stage for 💰 Solana ETF, commodity classification

According to a recent Bernstein report, the approval of a spot Ethereum (ETH) exchange-traded fund (ETF) in the US may establish a precedent for classifying Solana (SOL) as a commodity. The classification of cryptocurrencies as either securities or commodities holds significant implications. Commodity classification facilitates ETF applications and approvals, while security classification subjects assets to stricter SEC oversight.
probably was 😅
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