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๐Ÿš€Buckle up, BTC enthusiasts! Bitcoin has been on a rollercoaster ride, reaching its highest price in over a month at just over $67,400 yesterday. ๐ŸŽ‰ BTC had a rough start in May, plunging to a multi-month low of under $57,000. But don't worry, it quickly regained some ground, soaring past $65,000 on May 6. ๐Ÿ“ˆ However, the ride wasn't over, as BTC's price dropped to under $61,000 on May 10. But the bulls stepped in, preventing any further declines. Instead, BTC held its ground and started climbing again, reaching over $63,000 on Monday. ๐Ÿ‚ A brief correction on Tuesday brought it down to $61,200, but the announcement of lower inflation rates in the US on Wednesday sent BTC soaring. In just a few hours, BTC skyrocketed past $66,000. ๐Ÿš€ Despite a brief retracement, the inflow into Bitcoin ETFs led to more price gains, with BTC charting a 5-week high of over $67,400 yesterday. Even though it has lost some ground since then, BTC is still trading around $67,000. Its market cap has increased to $1.320 trillion, but its dominance over the alts is slightly down to 51.6%. ๐Ÿ“Š Meanwhile, Ethereum finally joined the party, surging past the coveted resistance line of $3,000 and jumping above $3,100. This is the first time in over a week that Ether has managed to reclaim this level. ๐ŸŽ‰ The total crypto market cap has added around $20 billion overnight and is now at $2.560 trillion. So, keep your eyes peeled, crypto enthusiasts! The ride is far from over! ๐ŸŽข๐Ÿš€

๐Ÿš€Buckle up, BTC enthusiasts! Bitcoin has been on a rollercoaster ride, reaching its highest price in over a month at just over $67,400 yesterday. ๐ŸŽ‰

BTC had a rough start in May, plunging to a multi-month low of under $57,000. But don't worry, it quickly regained some ground, soaring past $65,000 on May 6. ๐Ÿ“ˆ

However, the ride wasn't over, as BTC's price dropped to under $61,000 on May 10. But the bulls stepped in, preventing any further declines. Instead, BTC held its ground and started climbing again, reaching over $63,000 on Monday. ๐Ÿ‚

A brief correction on Tuesday brought it down to $61,200, but the announcement of lower inflation rates in the US on Wednesday sent BTC soaring. In just a few hours, BTC skyrocketed past $66,000. ๐Ÿš€

Despite a brief retracement, the inflow into Bitcoin ETFs led to more price gains, with BTC charting a 5-week high of over $67,400 yesterday. Even though it has lost some ground since then, BTC is still trading around $67,000. Its market cap has increased to $1.320 trillion, but its dominance over the alts is slightly down to 51.6%. ๐Ÿ“Š

Meanwhile, Ethereum finally joined the party, surging past the coveted resistance line of $3,000 and jumping above $3,100. This is the first time in over a week that Ether has managed to reclaim this level. ๐ŸŽ‰

The total crypto market cap has added around $20 billion overnight and is now at $2.560 trillion. So, keep your eyes peeled, crypto enthusiasts! The ride is far from over! ๐ŸŽข๐Ÿš€

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
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๐Ÿš€๐Ÿš€ Bitcoin's bull run is still going strong, folks! ๐Ÿš€๐Ÿš€ The BTC market has been a rollercoaster ride of bear and bull cycles for the past decade. The BTC halving, where the reward for mining new blocks is halved, has traditionally been the trigger for the start of the bull market. ๐Ÿ‚๐Ÿ“ˆ But this time around, things are a little different. The current bull run, which kicked off in mid-2023, was sparked by the hype around the potential approval of spot Bitcoin ETFs in the US. When these became a reality in early 2024, BTC smashed its 2021 record, hitting a new high of almost $74,000! ๐Ÿ’ฅ๐Ÿ’ฅ This is the first time a new peak has been reached before a halving. The launch of these products by some of the world's biggest companies, including BlackRock and Fidelity, has legitimized BTC as an investment asset. ๐Ÿ’ผ๐Ÿ’ฐ Even though demand has leveled off recently, BTC's price has soared and is currently hovering between $60,000 and $70,000. Plus, with rumors that the US Federal Reserve will lower interest rates later this year, things are looking bullish for BTC and other cryptocurrencies. ๐ŸŽ‰๐ŸŽ‰ And let's not forget, the halving did happen a month ago. While some experts argue that the impact of each block reward halving is diminishing over time, the fact remains that the production of new BTC is falling, now at around 450 BTC per day. That's a lot less than the average accumulation rate by ETFs, whales, and retail investors. ๐Ÿฆ๐Ÿณ๐Ÿ›๏ธ So, when will this bull run end? Ki Young Ju, CEO of CryptoQuant, believes BTC is currently in the middle of its ongoing bull cycle. He suggests that if the current trend continues, we could see the bull cycle end around April 2025. But for now, let's enjoy the ride! ๐ŸŽข๐ŸŽข #Bitcoin #BullRun #CryptoNews
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๐Ÿ“ฃCrypto enthusiasts, listen up! ๐Ÿ“ฃ A recent study has found that over 80% of new cryptocurrencies listed on Binance, the world's largest digital asset exchange, have seen a decline in value. ๐Ÿ˜ฑ According to a post by crypto researcher Flow, only five of the 31 tokens analyzed have appreciated in value: MEME, ORDI, JUP, JTO, and WIF. The most profitable was the Ordi token, which saw an increase of over 261% since its launch, despite lacking VC backing. ๐Ÿš€ However, Flow warns that new coins are not great investments anymore. The average fully diluted valuation (FDV) on the Binance listing date exceeds $4.2 billion, with some tokens reaching over $11 billion. Often, these projects lack real users or a strong community. ๐Ÿ˜” Flow suggests that many tokens launching on Binance are not viable investment vehicles, as their upside potential is already exhausted. Instead, they are exit liquidity for insiders who exploit retail investorsโ€™ limited access to early investment opportunities. ๐Ÿ˜ค Flow also criticized the current market dynamics, noting that many tokens are designed to pump and then dump due to short vesting schedules, fake metrics, and a focus on hype rather than user acquisition. ๐Ÿค” According to Flow, the current token launch meta is damaging to the crypto market, and a new approach to token launches is needed. High FDVs lead to value erosion and minimal market interest, ultimately causing the token to plummet. This approach not only harms the token but also discredits the entire crypto industry. ๐Ÿ˜ฐ So, folks, stay informed and invest wisely! ๐Ÿง๐Ÿ‘
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๐ŸŽ‰Big news, Bitcoin enthusiasts!๐ŸŽ‰ Reddit and OpenAI have joined forces, and it's causing quite the stir in the tech world. Reddit's stock even saw a 13% surge in after-hours trading post-announcement! ๐Ÿš€ Reddit is granting OpenAI access to its Data API, which means real-time, structured, and exclusive content from Reddit posts will be integrated into OpenAI's AI chatbot, ChatGPT. This partnership is set to enhance user exploration and interaction within Reddit communities. ๐Ÿค In return, OpenAI will provide Reddit users and moderators with innovative AI-driven features to boost user engagement. OpenAI has also been appointed as Reddit's newest advertising partner. ๐ŸŽฏ Reddit's CEO, Steve Huffman, is super excited about the partnership, stating that including Reddit in ChatGPT will help people find more of what they're looking for and help new audiences find community on Reddit. ๐ŸŒ But here's the cherry on top for us BTC lovers: Reddit has been investing in cryptocurrencies since 2022, including Bitcoin and Ether, with additional investments in the Ethereum-based token Polygon (MATIC). ๐Ÿ’ฐ However, it's not all smooth sailing. OpenAI, along with other AI companies, are facing legal challenges over their data acquisition practices. Sony, the world's largest music publisher, has expressed concerns about potential "unauthorized uses" of its music to train AI models. ๐ŸŽต Despite these challenges, this partnership is a big step forward for AI and social media integration. And with Reddit's investment in Bitcoin, it's a win for us BTC enthusiasts too! ๐ŸŽ‰๐ŸŽ‰
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๐ŸŽ‰Hooray for Bitcoin!๐ŸŽ‰ U.S. Senator Cynthia Lummis, a known Bitcoin advocate, recently posted "Bitcoin laser eyes" on social media, signaling her support for crypto-friendly laws. This comes after the Senate passed legislation H.J.Res. 109, aimed at overturning the SEC's Staff Accounting Bulletin (SAB) No. 121. ๐Ÿฆ๐Ÿ’ผ Senator Lummis, representing Wyoming, sees Bitcoin as a reliable store of value and a shield against inflation. She's also on the Senate Banking Committee, pushing for a regulatory environment that encourages crypto innovation while protecting consumers. ๐Ÿ›ก๏ธ๐Ÿ’ฐ The Senate's recent move targets the dismantling of SAB 121, which currently restricts financial institutions from acting as custodians for digital assets like Bitcoin. The new legislation aims to remove these barriers, allowing regulated firms to provide custody services for cryptocurrencies. ๐Ÿš€๐Ÿ“ˆ However, the White House has expressed opposition to the legislation, with President Biden potentially vetoing the bill, arguing that it could undermine the SEC's efforts to protect investors and the broader financial system. Critics of SAB 121, however, believe it excessively limits financial institutions' ability to meet the growing demand for Bitcoin services. ๐Ÿ›๏ธ๐Ÿ”’ The future of H.J.Res. 109 remains uncertain due to the potential presidential veto. If vetoed, the current restrictions on financial institutions' custody of digital assets will remain. ๐Ÿ”„๐Ÿ”ฎ Stay tuned, Bitcoin enthusiasts! ๐ŸŽˆ๐ŸŽ‰
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