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Bitcoin and Cardano Skyrocket With 716% Increase in Fund Flows

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Crypto News

Bitcoin and Cardano Skyrocket With 716% Increase in Fund Flows



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By #BTC U_Today

26m ago

•

2 mins read



Table of Contents

Cardano soars into spotlight

Cover image via U.Today

In the latest weekly review of fund flows by CoinShares, digital asset investment products experienced a significant increase in inflows, totaling $932 million. This represents a 716% rise from the previous week's $130 million.

The notable surge followed a lower-than-expected CPI report on Wednesday, with the last three trading days of the week, contributing 89% of total inflows, indicating a renewed link between crypto prices and interest rate expectations.

Bitcoin (BTC) was the primary recipient of these inflows, underscoring its position as the leading cryptocurrency on the market. Bitcoin ETFs saw inflows amounting to $942 million over the week. 

#ETHETFS $ETH #BlackRock The SEC’s decision this week on spot Ethereum ETFs will significantly impact the crypto market

This week, the SEC will decide whether to allow or reject spot Ethereum ETFs. This move has drawn attention from prominent investing companies.

The SEC's VanEck application deadline is May 23, followed by Cathie Wood's ARK Invest and 21Shares proposals the following day. BlackRock, Fidelity, Bitwise, Galaxy Digital, Franklin Templeton, and Hashdex are also interested in launching a spot Ethereum ETF.

Most industry analysts expect the SEC to reject these petitions. This assumption is based on minimal SEC-ETF issuer contact.

Rejection looks probable, although formal reasons remain unknown. Matt Hougan of Bitwise proposed rejection due to inadequate data. Lawyers like Scott Johnsson believe the SEC might classify Ethereum as an unregistered security in its order.

Ethereum's market performance has been affected by the ruling. Ethereum reached an annual low of 0.044 BTC vs Bitcoin on May 16. It has gained 6% since then, but sentiment is pessimistic. Ethereum trades at $3,104, per CoinGecko.

The bitcoin market depends on the SEC's judgment. Releasing a spot Ethereum ETF might boost institutional investing and popular adoption. Rejection may reveal regulatory concerns.

The SEC has been wary about spot ETFs due to market manipulation and monitoring issues. Many Bitcoin ETF applications have been denied due to these reasons. Analysts think the Ethereum ETF plans may have similar issues.

The cryptocurrency market would suffer if the SEC declares Ethereum an unregistered security. This categorization would effect U.S. Ethereum trading and regulation and ETF approvals.

#BTC #BTC Bitcoin Technical Analysis: Bulls Push Forward, Breaking Upper Resistance Levels

As of May 20, 2024, bitcoin is trading at $67,224, reflecting a strong market performance. The cryptocurrency has experienced a 24-hour range between $66,000 and $67,431, with a market capitalization of $1.32 trillion and a trading volume of $21.18 billion.

Bitcoin

The daily chart indicates that bitcoin (BTC) is in a prolonged uptrend, having recently reached a high of $67,654. Key support is observed at around $56,500, a level tested during the most recent dip. Despite the strong bullish momentum signaled by multiple large upswings, there is noticeable selling pressure near the recent highs, as evidenced by the dips that followed. Volume fluctuations align with significant price movements, suggesting active market participation.

#PEOPLE/USDT SELL SHORT
✅ Entry 0.03900
Leverage 10X

TP 1: 0.03860
TP 2: 0.03801
TP 3: 0.03703
TP 4: 0.03587

🛑✋ Stop Loss: 0.04011

Please use 10% from your capital
Manage your risk🛑
Play safe

Risk is too high🔥
Wait for the entry
#write2earn🌐💹

#1000PEPE/USDT SELL SHORT
✅ Entry 0.0114611
Leverage 10X

TP 1: 0.0111858
TP 2: 0.0109406
TP 3: 0.0108000
TP 4: 0.0107380

🛑✋ Stop Loss: 0.0118511

Please use 10% from your capital
Manage your risk🛑
Play safe

Risk is too high🔥
Wait for the entry
#write2earn🌐

#1000PEPE/USDT SELL SHORT
✅ Entry 0.0100896
Leverage 10X

TP 1: 0.0099860
TP 2: 0.0098372
TP 3: 0.0095806
TP 4: 0.0092615

🛑✋ Stop Loss: 0.0103955

Please use 10% from your capital
Manage your risk🛑
Play safe

Risk is too high🔥
Wait for the entry
#write2earn🌐💹

UMA long 🟢
Market

Sl - 3.80

Tp
3.906
3.927
3.947
3.96

Short trade 🔴 limit

Entry - 4.2 - 4.4

Sl - 4.5

Tp
4.19
4.177
4.166
4.15
#write2earn🌐💹

🌎EMASTER VIP SIGNAL🌎

Gal / USDT
LONG TRADE 🟢
ENTRY = market - 3

TARGETS 👇
(1) 3.1818
(2) 3.19
(3) 3.205
(4) 3.22

SL = 2.95
Leverage = 10

Podi ganakin entry argen down weddi ladder krnn. Risk entry.stoploss ek lagatama entry ek ganna ladder krla
#write2earn🌐💹

🌎EMASTER VIP SIGNAL🌎

GMX / USDT
LONG TRADE 🟢
ENTRY = market - 26

TARGETS 👇
(1) 28.21
(2) 28.69
(3) 28.97
(4) 29.33

SL = 25
Leverage = 10

#write2earn🌐💹

SACAN AND WIN FREE FDUSD

#UMA/USDT SELL SHORT 🔴
Entry 3.445 - 3.680
Leverage 10X

TP 1: 3.400
TP 2: 3.330
TP 3: 3. 250

🛑✋ Stop Loss 3.700

Please use 10% from your capital
Manage your risk🛑
Play safe

Risk is too high🔥
Wait for the entry
#write2earn🌐💹

CLAIM GIFT 🎁

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Bitcoin Cash Anticipation Builds Ahead of Halving

Bitcoin Cash has been experiencing significant fluctuations in its weekly price, ranging between $590 and $695, with a notable increase of 15%. The community surrounding Bitcoin Cash is eagerly anticipating its upcoming halving event scheduled for April 5th. This event will reduce block rewards to 3.125 BCH. Already, the market has been influenced by this impending change, with Bitcoin Cash reaching a new yearly high of $700.

Following a low point of $90 in June 2023, Bitcoin Cash has been on a consistent upward trend. Holders believe it will keep going up even more in the future. The excitement about the halving event, where Bitcoin Cash rewards will be cut in half, has made people feel good about it. Investors are becoming more interested in Bitcoin Cash because of this. With the halving expected to reduce block rewards, supply dynamics could further drive up its value

#write2earn🌐💹

Bitcoin Whales May Be Starting to Sell: Will Prices Drop?

Why Is Bitcoin Falling?

BTC/USD trading source Material Indicators analyzed order book data, highlighting whales attempting to lower prices to enter new long positions in the futures market. The analysis indicated that the target timeframe was the pressure from the United States Consumer Price Index (CPI) to be announced on April 10:

“We frequently see this behavior around economic reports. If the inflation figures released on April 10 are higher than expected, they could likely extend the downward movement. However, in such scenarios, it’s common for whales to maintain the dip and then capitalize on the upward liquidity gap they create for a relatively quick upward movement.#write2earn🌐💹

FREE SIGNAL
#JASMY/USDT BUY LONG
✅ Entry 0.021094-0.020927
Leverage 10X

TP 1: 0.021318
TP 2: 0.021630
TP 3: 0.022150
TP 4: 0.022800

🛑✋ Stop Loss: 0.020755

Please use 3% from your capital
Manage your risk🛑
Play safe

Risk is too high🔥
Wait for the entry

IDEX/USDT

🟢 Direction: LONG 📈

🔹EntryRange:market-0.06456

❌ StopLoss - 0.06225

TP 1 : 15%
TP 2 :40%
TP 3 : 60%
TP 4 :100%
TP 5 :150%

Risky scalp.
(10x/12x)