US lawmakers send Gary Gensler a letter urging approval of spot Ethereum ETFs, and "other" digital assets (what could it be 🤔) Ethereum price is back above $3,900 on the news 📈

US lawmakers voted in favor of a crypto market structure bill FIT21 that could have a sweeping impact on the US regulatory backdrop for digital assets if it eventually becomes law ⚖️

Five potential spot ETH ETF issuers have submitted amended 19b-4 filings after receiving last-minute feedback from the US SEC 📄

Bloomberg analyst James Seyffart said that after the futures the CFTC approved ETF, the SOL SPOT ETF could be approved in a few years ⏳

🔹 Last 24 hours top 3 gainers:

Bonk - $0.000035 (↑15.12%)
Ethereum Classic - $33.04 (↑9.93%)
Ethena - $0.885 (↑7.38%)

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‼️Global bank Standard Chartered expects #Bitcoin  to break new all-time highs by this weekend and $150,000 price target by the end of this year.

probably was 😅
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🇺🇸BREAKING: Crypto bill FIT21 passed by 279-136 vote in US House.

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✅ Crypto is stuck in limbo waiting for the next big price move, meanwhile, the long-awaited quarterly report from Nvidia pleases the bulls 📈

Day summary:

🔸  Nvidia reports $26 billion in revenue for Q1, 5.3% higher than expectations, also announces a ten-for-one stock split 💸

🔸 Biden's administration says it's eager to work with Congress to create a "balanced regulatory framework for digital assets"

🔸 Goldman Sachs CEO says he doesn't expect the Fed to cut interest rates this year

🔸 MetaMask could add Bitcoin support within the next month, though plans aren’t firm

🔸 Joe Biden announced his latest student loan forgiveness plan by canceling $7.7 billion in debts for 160k borrowers

🔸 It's Bitcoin Pizza Day! 14 years ago one man bought two large pizzas for 10,000 bitcoins 🍕

🔸 AllianceBernstein's analysts say ETH can rise to $6,600 if ETFs are approved

🔸 FTX Founder Sam Bankman-Fried is moving to the new prison in California

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American asset management firm calls for ETH to $6,600 if ETFs are approved 📈

According to their analysts, ETH may rally to $6.6k or by 75% in a few months if spot Ethereum ETFs are approved by the SEC.

“Given the sustained demand inflow seen by Bitcoin, leading to 75% rally since the ETF approval, we would expect similar price action for ETH" an analyst at AllianceBernstein said 👀
probably was 😅
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🇺🇸BREAKING: The White House opposes Crypto bill FIT21 due to insufficient consumer protections but they seek to collaborate with Congress for a balanced framework that fosters innovation and safeguards investors
probably was 😅
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VanEck Spot Ethereum ETF has been listed on the DTCC under the ticker $ETHV. This doesn't mean that the SEC has approved anything, just a good signal for the bulls 🐮

UK April CPI numbers: YoY CPI slowed sharply from 3.2% to 2.3%, but still above the expectation of 2.1%. Core YoY CPI fell by 0.3% from 4.2% 📊

Coinbase has launched the "Tech Against Scams" coalition with partners including Meta, Kraken, Ripple, Gemini, the Global Anti-Scam Organization, and Match Group ✋

After the PCPD ruled that Worldcoin’s retention of sensitive biometric data for up to 10 years solely for AI model training was unjustified, Worldcoin ordered to stop operations in Hong Kong 👁

🔹 Last 24 hours top 3 gainers:

Pepe - $0.0000136 (↑22.9%)
GALA - $0.0491 (↑18.7%)
FLOKI - $0.00023 (↑8.1%)
probably was 😅
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SEC Chair Gary Gensler doesn't like the FIT21 Bill, says it would hurt investors & hamper the SEC's work The House of Representatives is expected to vote on the FIT21 bill in the coming weeks.

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Good Morning Crypto  - 5 ethereum ETF applicants amended their 19b-4 filing - Fidelity removes the eth staking idea amid approval - Vaneck ETH spot ETF listed on DTCC website - Trump accepts crypto donations for vote campaign - Nvidia earning report releasing today
probably was 😅
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Important Events in Coming weeks to watch out for :

If all are approved - This will be a very big win for Crypto Space.

1) Eth Spot ETF Approval
2) Sec's SAB121 Repeal to be Signed by Biden
3) Voting on FIT21 Bill
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✅ The crypto market is up today, with the total market capitalization rising by 6.66% to rest at $2.6 trillion. At the same time, Bitcoin’s market dominance decreased by 1.44% because ETH is flying to the moon 📈

Day summary:

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

🔸 The US SEC has requested that both Nasdaq and the CBOE make updates to their applications to list Spot ETH ETFs

🔸 Standard Chartered said they expect the US SEC to approve spot ETH spot ETFs later this week 

🔸 Microsoft unveiled the “designed for AI” Copilot+ PC 💻

🔸 Gala Games got exploited for nearly $214 million in GALA tokens

🔸 Two Ethereum Foundation researchers have disclosed advisory roles at EigenFoundation which raised concerns about conflict of interest

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Ethereum Open Interest hits a new ATH 📈

The aggregated open interest of ETH/USD trading pairs is at a record high. This indicates increased market participation 📊

High open interest doesn't specify a bullish or bearish trend; it depends on the positions' direction and market reactions, but it raises the risk of liquidations, which can amplify price movements.

In short: Be prepared for a roller coaster ride 🎢
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Ethereum is up 22.5% to almost $3,800 in the last 24 hours and the sum of leveraged position liquidations on ETH/USD does not even exceed $122M, it seems there is room for growth 📈

The US SEC has requested that both Nasdaq and the Chicago Board Options Exchange make appropriate updates to their applications to list Spot Ethereum ETFs 👀

Standard Chartered, the financial giant with over $800 billion worth of assets under management, said they expect the US SEC to approve spot ETH spot ETFs later this week 🗓

Microsoft unveiled the “designed for AI” Copilot+ PC that will remember and later be able to find anything displayed on the screen 💻

🔹 Last 24 hours top 3 gainers:

Lido DAO - $2.32 (↑34.56%)
Bonk - $0.000032 (↑30.75%)
Pepe - $0.000012 (↑28.70%)

#ETFvsBTC #MemeWatch2024 #CryptoWatchMay2024 #WriteToEarn #ScamRiskWarning

✅ Bitcoin price rallied to the coveted $70,000 mark amid a noticeable surge in spot buying and spot BTC ETF positive inflows. And Ethereum is absolutely destroying the competition today 📈😳

Day summary:

🔸 Bloomberg analysts now believe the chances of a spot Ethereum ETF being approved this month are 75% instead of 25%

🔸 Iran's President Ebrahim Raisi and a few other government officials are confirmed dead in a helicopter crash 🇮🇷

🔸 Two Chinese nationals have been charged with utilizing tether and crypto-friendly bank Deltec to commit money laundering and wire fraud

🔸 CEO of Grayscale resigns and will be replaced by Goldman Sachs executive

🔸 Apple has launched a discounting campaign in China, offering discounts of up to $318 📱

🔸 Bipartisan bill for blockchain competitiveness passes US House

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Top 7 token unlocks for this week 🔓

The total value of tokens to be unlocked this week will be over $1.22 billion, with the Pyth Network surpassing all others with $804 million worth of tokens about to be unlocked 👇

• Pyth Network - $804M
• Avalanche - $340M
• AltLayer - $29.44M
• GateToken - $15.68M
• SPACE ID - $13.58M
• Bonfida - $7.18M
• Metaplex - $7.08M

#ETFvsBTC #Write2Earns #MemeWatch2024 #CryptoWatchMay2024 #EarnCommissions

Gold and copper are breaking records, and silver is at an 11-year high (chart above), all of them share a common theme: recent weakness in the US dollar 📉

Iran's President Ebrahim Raisi and a few other government officials are confirmed dead in a helicopter crash. A senior Iranian government administration official said: “No foreign involvement at all” 🇮🇷

Two Chinese nationals have been charged with utilizing tether and crypto-friendly bank Deltec to commit money laundering and wire fraud amounting to $73 million ⚖️

Michael Sonnenshein will be stepping down from his role as the CEO of Grayscale and will be replaced by Goldman Sachs executive 💼

#ETFvsBTC #CryptoWatchMay2024 #MemeWatch2024 #ScamRiskWarning #EarnCommissions

✅ It's been a good week for the bulls, after testing support at $60k Bitcoin bounced back to $67.6k at the peak and even ETH/BTC doesn't look so bad anymore 🤔

Weekly news digest
 Consensys announced the launch of Smart Transactions for Metamask web wallet
Tether froze approximately 5.2 million USDT on 12 Ethereum addresses ❄️
Blockchain security platformCertiK discovered a $5 million security flaw in Wormhole bridge on Aptos
El Salvador has launched its own proof-of-reserves website
 DTCC announced it had concluded a tokenization pilot with JP Morgan and BNY Mellon, leveraging Chainlink's CCIP

The CME is set to introduce Bitcoin trading

Coinbase is developing a service that targets Australia’s growing self-managed pensions sector 🏦

Binance’s security experts developed an “antidote” against the growing instances of address poisoning scams

Binance helped to tackle a large-scale money laundering case, resolving a $6.2M digital asset fraud 

State of Wisconsin Investment Board discloses buying $99 million worth of BlackRock's spot Bitcoin ETF
 
OpenAI announced the launch of the ChatGPT-4o model 😳

Circle is planning to move its legal headquarters from Ireland to the United States for an IPO
 
Millennium Management discloses a $2 billion spot Bitcoin ETF portfolio 👀

Fintech giant Mastercard announced the launch of the "next-gen" blockchain payments startup program

CFTC issues order against crypto prime brokerage firm "Falcon Labs"

US indicts Ethereum validators for exploiting MEV trades

China police shut down a $1.9 billion illegal bank using USDT to move funds overseas

Helicopter carrying Iran's president and foreign minister crashed

CEO of Uniswap, called on Joe Biden to consider how voters think about crypto when they enter ballot boxes in November 🗳 

Elon Musk was ordered to testify in the SEC's investigation into his $44 billion Twitter acquisition.

Andrew Tate claims he's cashed in some of his Bitcoin holdings and invested the funds into GameStop
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Someone Requested for LTC Chart - Here you go
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#MemeWatch2024

How to use the Chaikin Money Flow (CMF) indicator 📊

The Chaikin Money Flow (CMF) measures Money Flow Volume over a set period, usually 21 days, helping traders gauge buying and selling pressure

This indicator makes it easy for retail traders to find the price areas at which the accumulation or distribution occurs.

📈 A CMF value above zero indicates buying pressure, suggesting a potential upward trend.

📉 A CMF value below zero indicates selling pressure, hinting at a potential downward trend.

🔄 Look for divergences between CMF and price. If the price hits new highs but CMF does not, it might signal weakening momentum and a potential reversal.

✔️ Use CMF with other indicators to confirm trends. Sustained CMF values above or below zero strengthen the trend signal so you can have more conviction in your directional bets.

📌 Save for later and share with a friend!

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Who needs trading gurus when you have ChatGPT? 🤖

Over the past year, the OpenAI's product has greatly expanded its capabilities. The chatbot can now read information from images you send, even charts.

ChatGPT's analysis of the current market situation in the picture above says that "we can go to $70k soon or retest the $64k level". Do we believe it? 😅
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