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🔮 They held on all night, but still fell below $58k in BTC, liquidations in 24 hours were $466 million and 88% of them were longs Institutions could help, but BlackRock does not buy Bitcoin for the fifth day in a row, and other ETFs are in the red yesterday by $161.6 million. And over the past 5 days, the outflow amounted to $635 million đŸ”Ș Changpeng Zhao said thank you to everyone for their support. He will serve his 4 months, after which he will engage in educational projects and passive investments in cryptocurrencies. He also said that compliance with KYC is very important now 🕐 Today is the Fed meeting on the rate: JPMorgan and Goldman Sachs have become bulls and expect a rate cut in July, Wells Fargo has taken a neutral position and is betting on September, and Bank of America supported the bears with their forecast for December 😇 $BTC #BTC #Bitcoin

🔮 They held on all night, but still fell below $58k in BTC, liquidations in 24 hours were $466 million and 88% of them were longs

Institutions could help, but BlackRock does not buy Bitcoin for the fifth day in a row, and other ETFs are in the red yesterday by $161.6 million. And over the past 5 days, the outflow amounted to $635 million đŸ”Ș

Changpeng Zhao said thank you to everyone for their support. He will serve his 4 months, after which he will engage in educational projects and passive investments in cryptocurrencies. He also said that compliance with KYC is very important now 🕐

Today is the Fed meeting on the rate: JPMorgan and Goldman Sachs have become bulls and expect a rate cut in July, Wells Fargo has taken a neutral position and is betting on September, and Bank of America supported the bears with their forecast for December 😇

$BTC #BTC #Bitcoin

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👀 Will Ethereum Be Declared a Security By the SEC Next Week? The Securities and Exchange Commission (SEC) may soon assert that Ethereum is a security in its expected rejections of several spot Ethereum ETF applications, a lawyer who specializes in digital assets warned Tuesday. The regulator is due to decide on VanEck’s application for such a product on May 23, followed by a final decision deadline for ARK Invest/21Shares’ application the next day. BlackRock, Fidelity, and Grayscale also have applications on the SEC’s desk. In March, the SEC put forth potential “grounds for [the] disapproval” of BlackRock’s application and Nasdaq’s proposal to list BlackRock’s product. One question the SEC posed in its notice is whether Nasdaq “properly filed its proposal” under the exchange’s rules for so-called Commodity-Based Trust Shares. Requiring that trusts hold a “specified commodity,” Scott Johnson, a general partner at Van Buren Capital, described the question’s inclusion as telling. “The obvious purpose is to potentially deny on the basis that these spot filings are improperly filed as commodity-based trust shares and do not qualify if they are holding a security,” he wrote on Twitter. Rather than indirectly excluding the digital asset as a commodity, the SEC could explicitly assert that Ethereum is a regulated security in its expected ETF denials. But that’s “highly unlikely,” Terrence Yang, a managing director at Swan Bitcoin. “Gensler and his team, they’re political animals,” he said, arguing that the political backdrop surrounding crypto has grown too tense for a move that would likely spark backlash from crypto-friendly politicians, including Former President Donald Trump. Following the SEC’s approval of spot Bitcoin ETFs in January, hopes that spot Ethereum ETFs will get the same treatment have plummeted. On the blockchain-based prediction platform Polymarket, traders penciled in a pessimistic 16% chance that ETFs are approved this month, as of this writing. $ETH #ETH #ETF
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⭐ Mike Novogratz Predicts Bitcoin’s Future Mike Novogratz, CEO of Galaxy, predicts Bitcoin‘s price will oscillate between $55,000 and $75,000 until a new market narrative surfaces. According to Novogratz, this narrative could form if the US central bank decides to lower interest rates or if regulatory bodies reduce their scrutiny on cryptocurrencies. He suggests that Bitcoin might be in for a prolonged period of stagnation until these potential changes occur. 🔾 What Drives Bitcoin’s Price? During a discussion about the company’s earnings on Tuesday, Novogratz mentioned that Bitcoin always thrives on narratives. Reflecting on Bitcoin’s past price behaviors, he pointed out the macroeconomic trends and adoption rates as primary influencers. He emphasized that Bitcoin’s value has historically risen during periods of lenient central bank policies and decreased during times of stringent measures. Earlier this month, Bitcoin’s price dropped below $57,000 due to fears that the Federal Reserve would maintain high-interest rates. Although these concerns were later confirmed, the Fed‘s promise to slow down the pace of tightening positively impacted Bitcoin’s price, leading to a subsequent recovery. 🔾 How Do Fed and Regulatory Actions Affect Bitcoin? Novogratz stated that until macroeconomic data shifts and inflation rates decline, the Federal Reserve remains “on hold.” He believes Bitcoin’s price movement will reflect this status quo. He also noted the half-year’s 50% rise in Bitcoin’s value, mainly due to the excitement around newly launched Bitcoin spot ETFs, even though net outflows were reported in ETFs during the second quarter. Last month saw significant developments for Bitcoin, including the halving event and the introduction of the Runes token standard. These events created two prominent narratives that could influence Bitcoin’s trajectory. $BTC #BTC
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‘Notcoin’ Airdrop Claim Opens as Binance Users Stake $14 Billion for NOT Rewards The NOT token of viral Telegram-based game Notcoin will be listed on Thursday, May 16 via multiple crypto exchanges—and in advance of the rollout, developer Open Builders opened up the in-game claim process for all players early Tuesday. Some 35 million players of the clicker game can now choose what to do with their earned NOT tokens, which are being awarded at a 1,000-to-1 ratio based on the in-game coins they mined earlier this year. So if you mined 100,000 in-game coins, then you’ll be able to claim 100 NOT tokens on The Open Network (TON). Players deposit their NOT from the game to the crypto exchanges Binance, OKX, or Bybit, or to the Wallet app on Telegram. Deposits are available throughout the day Tuesday, but will be paused on Wednesday ahead of the token listing. Notcoin players can also stake their tokens, letting them earn higher status levels that “give you access to better conditions and exclusive projects,” according to an official Telegram post. Come Thursday, players will also have the option to withdraw NOT to a self-custody wallet. Ahead of the listing, Binance and OKX both launched staking reward campaigns for NOT on Monday that let users of each crypto exchange earn a share of Notcoin tokens. In total, the exchanges will give out more than 4 billion NOT—over 4% of the total supply. Binance has the biggest chunk of that to offer, with over 3 billion NOT available through its Launchpool campaign—and customers are showing strong early enthusiasm. Users have already staked about $13.7 billion worth of Binance Coin (BNB) and the FDUSD stablecoin, with the tally briefly rising above $14 billion on Monday. Earlier Launchpool campaigns for gaming tokens Pixels (PIXEL) and Portal (PORTAL) similarly commanded several billion dollars’ worth of staking interest apiece. Will Notcoin similarly find its place in the ranking of the top gaming tokens launched in 2024? We’ll find out on Thursday once the token listing goes live. #NOTLAUNCHPOOL #NOT #notcoin
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📈 PEPE Coin Hits New Price Record On Monday, PEPE Coin experienced a significant surge, outperforming other altcoins during a period of market stabilization. The leading meme token saw its price climb by more than 15%, reaching an unprecedented high of $0.00001128. 🔾 PEPE’s Upward Momentum The upward trajectory of PEPE Coin is supported by a trend line on the daily chart. From $0.00000393, the dynamic support climbed to $0.00001096 within a month, marking a 178.85% gain. This week, PEPE broke its previous high of $0.00001084, reaching a new peak at $0.00001128. However, a more sustained rise may require the daily candle to close above the broken level. Additionally, analytics firm SpotOnChain noted significant profit-taking by whales following PEPE’s record surge. The first PEPE holder, known by the wallet address 0x647, deposited 250 billion PEPE tokens ($2.69 million) to Binance. This investor still holds 42.4 billion PEPE, valued at $424,000, achieving a profit of $3.96 million, an increase of 8,833% from the initial investment. 🔾 Whale Activity in PEPE Another notable whale, linked to the 0xa4f wallet, moved 123.7 billion PEPE, exchanging it for $1.31 million in USDC, earning a 20.5% profit of $223,000 within three days. Such major transactions suggest that investors could be anticipating a larger movement or potential correction in PEPE’s price. If overall supply restricts further gains, the support trend line will be vital for buyers aiming to maintain the recovery trend. đŸ”ș Key Takeaways for Investors – PEPE Coin’s price reached an all-time high of $0.00001128. – Profit-taking activities by whales could signal upcoming market movements. – The support trend line is crucial for sustaining PEPE’s upward momentum. As the cryptocurrency market evolves, investors should closely monitor PEPE’s price movements and whale activities to make informed decisions. $PEPE #PEPE
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đŸ’„ Ripple Seeks to Shield Documents Amid SEC Battle The legal fight in Ripple Labs is getting more intense. The U.S. Securities and Exchange Commission case is getting more intense, with Ripple choosing to shield some documents from public disclosure. Ripple has filed a motion to seal some documents related to the case, arguing that the company’s financial statement and details of business links need protection. 🔾 Ripple protecting confidentiality amid legal battle James K. Filan, representing Ripple’s defense, says there is an ongoing fight to shield documents because of the obvious possibility that they could expose proprietary data that could not only destroy Ripple’s social relationships but also hurt its competitive edge.  💬 "đ™đ™žđ™„đ™„đ™Ąđ™š 𝙝𝙖𝙹 𝙛𝙞𝙡𝙚𝙙 𝙖 đ™ˆđ™€đ™©đ™žđ™€đ™Ł đ™©đ™€ 𝙎𝙚𝙖𝙡 đ˜Ÿđ™šđ™§đ™©đ™–đ™žđ™Ł đ˜żđ™€đ™˜đ™Șđ™ąđ™šđ™Łđ™©đ™š 𝙛𝙞𝙡𝙚𝙙 𝙞𝙣 đ™˜đ™€đ™Łđ™Łđ™šđ™˜đ™©đ™žđ™€đ™Ł đ™Źđ™žđ™©đ™ đ™©đ™đ™š @đ™Žđ™€đ˜Ÿđ™‚đ™€đ™«'𝙹 đ™ˆđ™€đ™©đ™žđ™€đ™Ł đ™›đ™€đ™§ 𝙅đ™Șđ™™đ™œđ™ąđ™šđ™Łđ™© 𝙖𝙣𝙙 𝙍𝙚𝙱𝙚𝙙𝙞𝙚𝙹" The SEC declined to block the sealing of such materials; it cited issues surrounding other materials that they deemed appropriate for the discussion, underlining that the legal proceedings were set to be turbulent. Like the essence of the legal arguments between Ripple and the SEC, the focus is on the nature of XRP. The SEC claims that XRP is security, which is mentioned in the SEC’s appeal regarding the violation of securities laws since registration of the crypto wasn’t completed. In contrast to Ripple’s claim that XRP is a cryptocurrency, a different entity does not subject itself to the regulatory framework for securities. 🔾 Ripple’s future amid turbulence The case outset carries big challenges for Ripple and the global cryptocurrency markets. An SEC win would probably mean huge fines for Ripple Labs LLC and adjustment to the securities regime. On the other hand, if a startup like Ripple can win a case, then not only will it be a victory for Ripple, but it will also set a precedent for other digital assets that would enjoy similar regulatory challenges. $XRP #XRP #SEC
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