FYI: 🟠 Over a 4 year window, Bitcoin has never had negative fiat returns. Bitcoin’s money you can save for the future. 💪

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📈 Arbitrum Price Jumps 5% As Whale Heavily Bags ARB, What’s Next? In an unprecedented development, Arbitrum’s (ARB) price has taken a dramatic upward turn today, May 18, sparking a wave of excitement across the broader crypto market. This sudden surge aligns with a substantial amount of ARB being amassed by a single whale in the past 24 hours, as revealed by blockchain data surfacing across the global crypto horizon. Further, coming in the midst of a consolidation period witnessed by ARB, this transaction has ignited a flurry of optimistic market sentiments surrounding the crypto’s future price movements. Let’s delve deeper into the whale data orbiting Arbitrum and its current market statistics. 🔸 Whale Bags Over 4 Mln ARB From Binance According to insights from numerous on-chain analytics platforms, whale 0x695 accumulated 4.17 million ARB, worth $4.3 million, from Binance in the past 24 hours. Further, this whale has been recorded trading ARB since July 2023, experiencing considerable losses. Notably, the whale bought 39 million ARB, worth $49 million, at an average price of $1.25. Thereafter, the address sold 37.5 million ARB at an average price of $1.2, suffering a loss of more than $2M. This has stirred a whirlpool of speculations about the whale’s investment strategies and Arbitrum’s potential to offer gains. Meanwhile, it’s worth noting that the address still holds 5.98 million ARB. In addition, insights shared by ‘The Data Nerd’ spotlighted that some of this whale’s ARB holdings are also staked in AAVE and Compound. 🔸 Arbitrum Price Jumps As of writing, ARB’s price traded at $1.02, up 1.66% over the past day. Besides, it’s worth noting that the token’s 24-hour lows and highs are $1.00 and $1.07, respectively, underscoring nearly 5% gains witnessed recently. This chronicle has garnered noteworthy attention, as Coinglass data spotlighted a market uptrend for Arbitrum at press time. ARB’s OI surged 14.27% to $204.74 million, followed by a derivatives volume upswing of 69.31% to $400.03 million $ARB #ARB #Arbitrum

⚠️ DOGE Community Reacts to New X Payments Promise to Launch This Year An insider from the X and Dogecoin teams who signs his messages as “DogeDesigner” on the X platform has revealed that the X Payments service is expected to launch later in 2024. The Dogecoin army immediately responded to that tweet along with non-crypto users — both are looking forward to the release of this much-anticipated feature on Elon Musk’s popular “free speech” platform. 💬 Wen $DOGE ? — Crypto Rand May 17, 2024 🔸 Elon Musk does not confirm plans to add DOGE to X so far This is not the first announcement made by @cb_doge this year by far. Each time, the crypto community, with many DOGE-themed accounts among them, has reacted to them with a large wave of enthusiasm as they hope to finally see their beloved meme cryptocurrency to be finally integrated into the platform. Still, the celebratory X owner Elon Musk has not made any statements about the future of DOGE as an official currency of X yet. But that does not discourage the DOGE army anyway. What Musk did confirm several times, making it “super clear,” is that neither X nor any other of his companies plan to create their native cryptocurrencies. That was Musk’s response to multiple scams, offering “X coin” to unaware and enthusiastic investors and rumors about plans for such a cryptocurrency to be built and released in the future. This is likely to do with the current witch-hunt that the U.S. Securities and Exchange Commission is leading against altcoins and various crypto wallets and crypto exchanges that list them for trading. 🔸 DOGE army's hard-to-kill hope In the meanwhile, X Corporation continues to secure licenses that will allow it to process payments in various U.S. states, including, curiously, payments conducted in cryptocurrencies. Therefore, the hopes of the Dogecoin army seem to be based on pure hopes that Elon Musk will eventually confirm his status of DOGE lover and make this OG meme crypto one of the payment options on his social media network. #DOGE

⚠️ Avalanche (AVAX) Could Hit $40 on Bullish Signs Bullish technicals and positive crypto momentum point to a potential Avalanche (AVAX) rally targeting $40. Here are the key factors that could propel the altcoin higher. Avalanche (AVAX) has remained in the $30-$39 price range for weeks. After rallying above $60 in March, AVAX dipped to the $35 region and has since struggled to break the $40 resistance. However, recent bullish patterns indicate a possible surge to reclaim the $40 level. 🔸 What's Driving Avalanche's Price? The overall crypto market momentum often impacts the prices of altcoins like AVAX. Bitcoin's push above $66,000 recently has helped boost buying pressure on Ethereum and other major altcoins. Ecosystem developments are also aiding AVAX's ascent. Avalanche will assist in managing tokenized U.S. Treasuries on Ethereum, increasing its popularity. Avalanche's new $1 million liquidity mining program called Memecoin Rush aims to attract more meme coin activity. 🔸 AVAX Price Outlook Based on these tailwinds, analysts predict AVAX could rally to the $40 level in the coming days if it can overcome the $39.02 resistance. Market analyst Omar sees AVAX breaking out of a major trendline, potentially triggering a 40% short-term rally. Technically, AVAX is forming a bullish engulfing pattern on the daily chart as buyers return. It has found support at $34.04 and is testing the $37.70 resistance. A breakout could quickly push AVAX to $40. The RSI indicator rising into bullish territory also supports more upside. However, over 28% of the circulating AVAX supply is held by short-term investors who could sell into a rally. A large demand barrier also exists around $38 where over 12 million AVAX were purchased. Overall, while bullish momentum is building, AVAX may face further consolidation if sellers continue limiting major breakouts. A decisive move above $39 is needed to spark the next rally toward $40 and higher. $AVAX #AVAX #Avalanche

👀 Ethereum Bulls Awaken as ETH Reclaims $3,000 Ethereum (ETH) is showing signs of a bullish resurgence, retaking $3,000 as whales double down. With positive technicals aligning, is the stage set for ETH's next rally? While ETH is up strongly today, it is still down around 1% for the week and 1.5% for the month as it works to recover from recent losses. Ethereum's market cap currently sits at $373 billion, making it the #2 cryptocurrency, with $14.4 billion in trading volume over the last 24 hours. ETH trades at $3,105.22, inching closer to a key resistance level at $3,059. This level previously acted as support, so a decisive break above it could solidify Ethereum's bullish momentum. A successful breach of $3,059 would push ETH out of the bearish channel that has kept a cap on its upward trajectory. The technical indicators are aligning in favor of more upside as well. Ethereum's RSI sits at 51, showing slight bullish momentum, while the MACD is positive. However, ETH still trades below its 50-day SMA, which it will need to reclaim to reinforce a new uptrend. If the bulls can conquer the $3,059 resistance, the path could open up for Ethereum to target higher levels. 🔸 Massive ETH Transfers Hint at Potential Price Surge Adding to the bullish outlook, several crypto whales have moved large amounts of ETH worth around $22 million each from Coinbase to unknown wallets in recent transactions. Whales 0x091d, 0xd26e, 0xfe73 and 0xf627 each transferred exactly 7,563 ETH from Coinbase to private wallets. These major transfers, totaling around $88 million worth of ETH, often signal whales' intention to hold for the long-term. By moving funds off exchanges to self-hosted wallets, whales are likely preparing to accumulate more coins or simply hodl their existing positions in anticipation of higher prices ahead. Given Ethereum's positive technical posture and the upbeat sentiment from whales, these large transactions could foreshadow increasing upward price pressure for ETH. $ETH #ETH #Ethereum

📈 Bitcoin Gains Momentum with ETF Inflows Bitcoin‘s price surged to $66,867 just before the daily close, reflecting a significant milestone as it has not reached the $67,000 range for a month. This price increase is driven by positive market sentiment and substantial ETF inflows. Analysts are closely monitoring these inflows, which play a crucial role in shaping Bitcoin’s market dynamics. 🔸 Spot Bitcoin ETF Update For several months, there have been notable inflows into IBIT and FBTC ETFs, counterbalancing outflows from GBTC. However, a shift is occurring as GBTC starts to see significant net inflows instead of the previous outflows. This trend is encouraging for the market, as ETFs previously designed to compete with GBTC have not experienced long-term net outflows for years. The recovery of GBTC, which saw a net inflow of $31.6 million as of May 17, alongside inflows into BITB and ARKB, marks a positive turnaround. The transition to net inflows for GBTC signals a potential for substantial future inflows into IBIT, possibly reaching hundreds of millions of dollars. This could pave the way for days with net inflows surpassing half a billion dollars, further boosting market confidence and investor sentiment. 🔸 General Cryptocurrency Market Overview Bitcoin maintaining a price above $66,000 is a positive indicator for the market, supported by ETF inflows. Additionally, the April inflation figures, balancing macroeconomic pressures, have provided a supportive backdrop amid discussions of potential Fed rate hikes. Despite these positive signs, external factors like solar flares causing global internet and power outages could still impact the market. The upcoming week may see potential SEC rejection decisions concerning spot ETH ETFs and their scope. A broad targeting of tokens with staking aspects could complicate the market further. While the market has anticipated the rejection of two ETFs, more rejections or severe reactions could lead to further declines. $BTC #BTC #ETF

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