#CryptoWatchMay2024 $BNB $ETH $BTC As of May 21, 2024, the cryptocurrency market is experiencing notable activity. Bitcoin has surged past $70,000, marking a more than 5% increase in the last 24 hours. This rise is attributed to several factors, including significant Bitcoin inflows to accumulation addresses, reduced BTC deposits to exchanges, and the recent halving event which reduced miner rewards, thus constraining new supply [[❞]](https://www.coindesk.com/) [[❞]](https://cryptonews.com/cryptocurrency/why-is-bitcoin-going-up/) [[❞]](https://www.coingecko.com/en/news).

Ethereum has also seen a sharp increase, rising above $3,500. This surge is fueled by speculation surrounding the approval of spot-based Ether ETFs by the SEC, which is expected to further boost demand [[❞]](https://www.coingecko.com/en/news).

Other cryptocurrencies are experiencing varied movements. For instance, Binance Coin (BNB) remains resilient, while lesser-known tokens like Bitget Token (BGB) and Ondo (ONDO) are gaining attention for their potential growth [[❞]](https://thecurrencyanalytics.com/marketmovers/cryptocurrency-market-outlook-what-to-expect-in-may-2024-111567).

Overall, the market shows a mix of stability in major coins like Bitcoin and Ethereum, and volatility among altcoins, offering both opportunities and risks for investors.