In an electrifying turn of events, the cryptocurrency market witnessed a formidable surge propelled by the release of softer-than-expected U.S. inflation data. Bitcoin (BTC) took center stage, breaching the $66,000 mark for the first time since April 24, registering an impressive 7% surge within a 24-hour period. Meanwhile, Ether (ETH) hovered close to the $3,000 threshold, albeit trailing with a modest 4% gain.
Market Dynamics:
Solana (SOL) and NEAR Protocol (NEAR) emerged as frontrunners among major cryptocurrencies, logging remarkable gains of 8% and 12%, respectively. The broader market, as represented by the CoinDesk 20 Index (CD20), also rallied, showcasing a robust 6% increase.
Impact of U.S. Inflation Data:
This exhilarating rally coincided with the unveiling of April's U.S. Consumer Price Index (CPI) figures, which exhibited a slight dip compared to March, accompanied by a relatively subdued retail sales report. Investors breathed a collective sigh of relief, interpreting the data as a bullish signal amidst concerns of resurgent inflation and a burgeoning economy, potentially nudging the Federal Reserve towards reconsidering its dovish stance and contemplating interest rate hikes.
Expert Analysis:
Bitfinex analysts hailed the decline in CPI as a "bullish regime shift," marking the first contraction in inflation over the past three months. Coupled with the Federal Reserve's earlier announcement regarding the intention to taper the central bank's balance sheet run-off, this development was perceived as favorable for risk assets.

Market Response:
In tandem with the buoyant sentiment in the crypto space, traditional markets witnessed a surge, with the S&P 500 index surging by over 1% to achieve a new all-time high, underscoring a resurgence in risk appetite.
Technical Analysis:
The surge in Bitcoin prices also signaled a breakout from a persistent downtrend that had previously capped prices in recent weeks, according to analysts at Swissblock. Describing it as a long-awaited move, Swissblock emphasized the significance of today's events, attributing the breakthrough to the CPI and retail sales data.
Future Outlook:
With the path cleared for BTC to potentially rally to $69,000 initially and potentially target new all-time highs around the $84,000 mark, the report suggested that altcoins would likely follow suit with a strong surge during the next leg up. 📈🔥
#icryptobob #ETFvsBTC #CryptoWatchMay2024
$BTC

📈💥 Over the past 24 hours, Bitcoin (BTC) has surged to $66,000, marking an impressive 7% increase within a day. This meteoric rise in value is fueled by a confluence of macroeconomic factors, notably the latest US inflation data.
Bitcoin's Price Rally Amidst Falling US Core Inflation
Recent data from the US Consumer Price Index (CPI) indicates a drop in core inflation to a 3-year low of 3.4%. This decline has ignited significant activity within the Bitcoin market, drawing keen interest from major global financial institutions. The observed correlation between reduced inflation and heightened investment in digital assets suggests that investors perceive Bitcoin as a hedge against economic uncertainty.
The favorable inflation metrics also hint at potential forthcoming reductions in US interest rates. While the Federal Reserve has adopted a cautious "wait-and-see" stance, the latest data could expedite their decision-making process. However, concerns linger regarding the pace of inflation deceleration, potentially limiting the scope of rate adjustments throughout the year.
Bitcoin's upward trajectory is further propelled by mounting institutional interest, particularly in Bitcoin ETFs. Recent SEC filings unveil substantial investments in Bitcoin ETFs by industry giants like JPMorgan, Wells Fargo, UBS, and Bank of Montreal. These disclosures have played a pivotal role in bolstering Bitcoin's market capitalization.
Adding fuel to the market's bullish sentiment are investments from entities like the State of Wisconsin Investment Board, which recently allocated $99 million to BlackRock's Spot Bitcoin ETF. This influx of institutional capital not only underscores Bitcoin's attractiveness as an investment but also solidifies its legitimacy and stability as an asset class.
The ETF landscape buzzes with anticipation as more institutions gear up to enter the fray. Of particular note is the recent appointment of Salim Ramji, former head of global ETFs at BlackRock, as the CEO of Vanguard. Vanguard, previously hesitant about spot Bitcoin ETFs, may reevaluate its stance under Ramji's leadership, potentially opening doors to broader institutional participation.
This anticipated shift is poised to sustain Bitcoin's upward trajectory as more institutional investors integrate it into their portfolios. The ongoing evolution in the ETF realm, coupled with macroeconomic dynamics, offers a robust framework for deciphering Bitcoin's recent surge and its sustained ascent in value.
#icryptobob #BTC☀️ #ETFvsBTC
$BTC

🚀📈 XRP Set For Major Upswing: Top Analyst Reveals Timing For $10-$20 Price Milestone 💰🔥

XRP, the cryptocurrency synonymous with Ripple, has been ensnared in an extensive period of consolidation, oscillating between $0.300 and $0.600 over the past seven years. Despite a fleeting surge during the 2021 bull run that propelled XRP to a three-year pinnacle of $1.9 in April, the token has since reverted to its familiar range, lacking the bullish impetus needed to breach upper resistance levels.
However, amidst this apparent stagnation, a chorus of crypto analysts now heralds an imminent uptrend for XRP, foreseeing a potential ascent to unprecedented altitudes.
🔍 Analysts Anticipate XRP Breakout
Enter U-COPY, a technical analyst distinguished on the social media landscape (formerly Twitter), whose projections offer a glimmer of hope for XRP enthusiasts. U-COPY asserts that XRP may soon embark on a momentous journey between May 15 and August, propelled by several key indicators.
Notably, XRP has been gradually ascending from its recent low at $0.46, edging closer to the culmination of a protracted triangle formation that has been gathering momentum since 2018. U-COPY contends that the true potential of XRP awaits unveiling during the forthcoming bull cycle, hinting at the prospect of substantial growth by year's end.
With anticipation building and the crypto community abuzz, all eyes remain fixed on XRP as it navigates this pivotal juncture, poised on the brink of a potential breakthrough to $10-$20 price milestones. 🌟📈
#Xrp🔥🔥 #altcoins #icryptobob
$XRP

🦐📈 Shiba Inu (SHIB) Token Holder Swaps $23,000 Into Mollars ICO — DCA’ing, King Shrimp Passed Whales 🚀🌊

In the realm of crypto, one particular shrimp, aptly dubbed the King Shrimp, previously monitored by Crypto.News, has significantly bolstered their holdings in the Mollars token presale 'bag.' Through frequent purchases or dollar-cost averaging (DCA) into the presale, this trader's consistent acquisitions have catapulted them into what's believed to be the foremost holder of Ethereum blockchain's forthcoming store-of-value token.
📈 Investor's Successful Track Record with Memecoins
Evidence suggests that this trader possesses a knack for memecoin ICO investing, as transactions involving Shiba Inu (SHIB), Volt Inu (VOLT), and Robo Inu (ROBO) tokens indicate. While acquisitions of Mollars overshadow all other investments this year, this holder is purportedly a significant figure within the Shiba Inu token community, perhaps hailing from SHIB's golden era.
💼 Noteworthy Investment Strategy
While the individual purchases by this 'King Shrimp' may not individually rank as the largest, their cumulative effect is substantial. The 12 acquisitions made in the Mollars token presale amount to a total value of approximately $23,080.73 at the time of writing, translating to an estimated 57,700 Mollars tokens.
🔍 Forecasted Profits and Projected Growth
With Mollars tokens set to debut on Bitmart and LBank around June 1st, and a projected listing day price of $0.62 per token, this 'King Shrimp' stands to see their investment surge to $35,775.09 on June 2nd if the hard cap is met. Forecasts even suggest that Mollars could potentially reach ~$15 before year-end, signaling a promising future for investors.
💰 Strategic Shifts and Forward-Looking Expectations
The migration of funds from Shiba Inu to Mollars by the 'King Shrimp' hints at higher growth expectations for the $MOLLARS token compared to SHIB in 2024. With the Mollars token presale already raising $1.31 million, this investor's $23,000 allocation positions them as a prominent figure in the pre-listing landscape.
📊 Conclusion
As Shiba Inu token holders grapple with modest gains, the emergence of Mollars as a potential contender in the crypto space signals a paradigm shift. With investors like the 'King Shrimp' leading the charge, Mollars could potentially yield far greater returns than its predecessors, ushering in a new era of value in the crypto market.
$SHIB

#Shibalnu #Memecoins #icryptobob

BlackRock’s former global head of iShares and index investments, Salim Ramji, is joining Vanguard as its new CEOand board of directors from July 8.

In an announcement, Vanguard said Ramji will take over from the current CEO Tim Buckley, who announced he would retire and step down from the firm in February this year.
Ramji departed from his position at BlackRock in January 2024 where he was responsible for managing the majority of the firm’s client assets and overseeing the iShares platform. He joined BlackRock over a decade ago and under his tenure, the asset management firm launched the first spot Bitcoin exchange-traded fund for retail investors.
Vanguard is the second largest asset management firm after BlackRock.
BlackRock’s Spot Bitcoin ETF ‘IBIT’
Commenting on Ramji’s appointment, Bloomberg Intelligence senior ETF analyst Eric Balchunas said the former BlackRock executive oversaw the filing and logistics of the IBIT ETF and he is known to have an interest in the digital assets space. Vanguard on the other hand is anti-crypto.

Before joining BlackRock Ramji held the position of senior partner at McKinsey and was responsible for the firm’s asset and wealth management practice. Ramji started his career as a lawyer at Clifford Chance in London and Hong Kong.
“He [Ramji] cares about advancing the interests of individual investors, has a strong fiduciary ethos, and thinks strategically about solutions,” said Buckley, in a press release.  “Salim understands our organization’s deep sense of purpose and commitment to put clients first, which is a hallmark of Vanguard’s leadership team and culture,” added Buckley.
“The current investor landscape is changing, and that presents opportunities for Vanguard to further its mission of giving people the best chance for investment success, which is more relevant today than at any time in the firm’s five-decade history,” said Ramji.
Vanguard’s Anti Crypto Stance 
In January, Vanguard said it had no immediate plans to add spot Bitcoin ETF to its platforms despite the introduction of such ETFs generating headlines and buzz in the industry.
“Given the current state of crypto as an asset class, Vanguard does not have plans to launch its own bitcoin ETF or any crypto-related products. When deciding what investment products to offer, we consider a range of factors, including whether we believe they have enduring investment merit and meet our client’s needs,” wrote Janel Jackson, Vanguard’s head of ETF Capital Markets and Broker and Index Relations in a note.
“While the discussion about bitcoin and cryptocurrencies, in general, has increased recently, we do not currently believe that there is an appropriate role for them to play in long-term portfolios,” adds Jackson.
#BlackRocks #CryptoNews🚀🔥V #icryptobob

📈💰 Ethereum is on the cusp of a potential breakthrough above the $2,900 threshold, with further upward momentum hinging on its ability to surmount key resistance barriers at $2,940 and $2,950.
🔍 Ethereum has solidified its support foundation above the $2,860 mark, signaling a potential reversal in its bullish trajectory.
📉 However, the current price action finds Ethereum trading below the $2,950 level and the 100-hourly Simple Moving Average, indicating the presence of notable resistance levels.
📉 An evident bearish trend line is emerging, posing a hurdle near the $2,905 mark on the hourly chart of ETH/USD (data sourced via Kraken).

📈👀 Ethereum Price Analysis:
Ethereum encountered obstacles in the vicinity of $3,000 and underwent a corrective downturn, mirroring the movement of Bitcoin. The ETH price retreated below critical support thresholds at $2,950 and $2,940.
💪 Nonetheless, buyers intervened near the $2,860 support zone, thwarting further downward pressure. The price found support and is presently consolidating losses, inching upward past the $2,885 level.
🎯 Immediate resistance looms at $2,950, a breakout above which could propel Ethereum towards the pivotal $3,000 mark. Beyond $3,000, subsequent resistance levels to monitor include $3,050 and $3,150.
📉🔜 Conversely, failure to breach the $2,925 resistance barrier could trigger a resumption of downward momentum. Initial support is situated at $2,880, followed by major support zones near $2,860 and $2,810.
💼💼 Technical Analysis:
Hourly MACD: The MACD indicator for ETH/USD is displaying indications of a waning bearish trend.
Hourly RSI: The Relative Strength Index (RSI) for ETH/USD has dipped below the 50 level, suggesting a slight tilt towards bearish sentiment.
📊📉 Key Levels:
Major Support Level: $2,860
Major Resistance Level: $2,925
💡 In summary, Ethereum is currently consolidating losses above the $2,860 support zone, with the potential for a breakout looming should it overcome resistance levels at $2,940 and $2,950. However, a failure to surpass these barriers could usher in renewed downward pressure towards $2,800 and $2,700 levels in the short term. Market participants are advised to closely monitor these critical levels for potential trading opportunities.
#ETHETFS #icryptobob #EthereumPower
$ETH

Cardano (ADA) is gearing up for a fresh surge above the $0.4500 resistance zone. With ADA potentially gaining bullish momentum upon settling above the 100 SMA (H4), investors eagerly anticipate the next move. 📈
Cardano Price Attempts Fresh Increase
In recent days, Cardano embarked on a recovery journey from the $0.4180 zone, mirroring the upward trend of Bitcoin and Ethereum. ADA confidently breached the $0.4350 and $0.4420 levels, ushering it into a short-term bullish territory. 🔄
A significant breakthrough occurred with the emergence above the 23.6% Fib retracement level of the downward trajectory from the $0.5227 swing high to the $0.4180 low. Notably, a crucial bearish trend line succumbed to ADA's upward surge, with resistance vanishing at $0.4580 on the 4-hour chart of the ADA/USD pair. 📈
Challenges Ahead and Potential Rally
Despite the momentum, Cardano finds itself trading below $0.480 and the 100 simple moving average (4 hours). Immediate obstacles lie around the $0.4650 zone and the 100 SMA (4 hours). The first significant resistance rests near $0.470, representing the 50% Fib retracement level. 🛑
Yet, the ultimate test looms at $0.4980. A decisive breach above this resistance could catalyze a robust rally, propelling ADA towards the $0.5250 and potentially even $0.5650 levels. 🚀
Potential Setback and Support Levels
However, should Cardano stumble in overcoming the $0.470 resistance and the 100 SMA (4 hours), a retracement may occur. Immediate support awaits near the $0.450 level, followed by a crucial barrier at $0.4350. 📉
A breach below $0.4350 might trigger a deeper downturn, possibly testing the $0.4180 support. Further downwards, the $0.3880 level stands as a significant stronghold. 🛡️

Technical Indicators
- 4-hour MACD: The MACD for ADA/USD indicates waning momentum in the bearish zone.
- 4-hour RSI (Relative Strength Index): ADA/USD's RSI now hovers above the 50 level, hinting at bullish sentiment.
Conclusion
As Cardano navigates through key resistance levels, investors closely monitor its trajectory. A successful breach could pave the way for substantial gains, while setbacks may prompt consolidation and reassessment. ADA's performance in the coming sessions will be critical in shaping its near-term outlook. Stay tuned for further updates!
#altcoins #CryptoWatchMay2024 #icryptobob
$ADA

1. Solana (SOL):
Solana whale FUD not going away Solana has long been associated with whales moving large amounts of SOL in and out of exchanges. Notably, investors and retail traders do not know when the next major dumping will take place. This has generally kept Solana on the edge as HODLers do not want to get caught up in the mix. According to recent data from crypto analytics provider Whale Alert, an unknown Solana whale moved 260,931 SOL worth approximately $40,502,770 from an unknown wallet to Kraken Exchange. This sort of whale movement is often indicative of a sell-off. 🐋💼

2. Iota (IOTA):
In the latest step to further revolutionize the trade finance ecosystem, IOTA’s TLIP integration with MLETR seeks to explore key advancements in this ecosystem. By diminishing dependence on intermediaries and harnessing the secure, transparent transactions enabled by IOTA’s distributed ledger technology, TLIP stands ready to lower costs, enhance efficiency, and mitigate risk across various sectors, as reported by Crypto News Flash. As the platform progresses toward incorporating advanced features such as tokenization, the trade finance sector anticipates a digitalized and democratized future. 🌐💰

3. XRP (XRP):
What's with XRP? The previous clarification provided by Schwartz also addressed questions regarding the role of XRP in Ripple's view on payment solutions. He emphasized that the popular cryptocurrency remains integral to the company's vision, highlighting its suitability for specific transactional contexts. With Schwartz's announcement, the XRP community anticipates further updates from Ripple in June, eagerly awaiting the progression of this significant initiative and how it will affect the trajectory of their favorite cryptocurrency. 🤔📈

4. Saga (SAGA):
Saga, a layer-1 blockchain with a focus on gaming, recently built up a ton of hype for its mainnet and token launch by running a play-to-airdrop campaign and rewarding DeFi stakers across various networks. The “Power-Level Over 9,000” airdrop campaign—named after a “Dragon Ball Z” reference that became an internet meme—was first revealed in April and leans on partnerships with more than 100 projects across various chains. 🎮🎁

5. Cardano (ADA):
More innovations for Cardano Cardano is always building, a trend that is visible in its consistent GitHub Commits. With the EMURGO and GSR partnership, such developer innovation can further be bolstered. Cardano supports its developer ecosystem through the Project Catalyst campaign. GSR onboarding might boost this initiative across the board. Despite its advanced developer push, Cardano’s decentralized finance (DeFi) ecosystem still boasts a significantly lower Total Value Locked (TVL). GSR might help in bridging this gap. 💡🔧
Stay tuned for more updates on these exciting projects! 🚀🔥

#CryptoWatchMay2024 #altcoins #icryptobob