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#Write2earn #CRYPTO MARKET FACES REGULATORY HURDLES: #ANALYSIS & INSIGHTS #sec #GENSLER $BTC $ETH The crypto market faces another setback as trading volume hits its lowest point in weeks, plunging to $63.63 billion. This decline, down by 17% in just a day, drags the overall market cap to $2.3 trillion, while the fear and greed index shifts away from bullish sentiments. Major cryptocurrencies like Bitcoin and Ethereum see price declines, with Bitcoin trading at $62,309.95 after a 2% drop, and Ethereum at $2,999.41 following a 2.2% fall, exerting downward pressure on other cryptocurrencies. Fresh regulatory concerns and decreased Bitcoin Futures ETF and exchange inflows contribute to today's market decline. The SEC's Wells notice to Robinhood and sustained Bitcoin ETF outflows impact investor sentiment. Ethereum, however, sees a break in outflow trends, with $30 million in inflows within a week of Hong Kong ETFs' launch. Bitcoin exchange inflows hit a decade-low, indicating long-term holders' reluctance to distribute, possibly signaling an accumulation phase. Analysts speculate Bitcoin may dip below $50,000 before resuming its climb to new highs.

#Write2earn #CRYPTO MARKET FACES REGULATORY HURDLES: #ANALYSIS & INSIGHTS #sec #GENSLER

$BTC $ETH

The crypto market faces another setback as trading volume hits its lowest point in weeks, plunging to $63.63 billion. This decline, down by 17% in just a day, drags the overall market cap to $2.3 trillion, while the fear and greed index shifts away from bullish sentiments.

Major cryptocurrencies like Bitcoin and Ethereum see price declines, with Bitcoin trading at $62,309.95 after a 2% drop, and Ethereum at $2,999.41 following a 2.2% fall, exerting downward pressure on other cryptocurrencies.

Fresh regulatory concerns and decreased Bitcoin Futures ETF and exchange inflows contribute to today's market decline. The SEC's Wells notice to Robinhood and sustained Bitcoin ETF outflows impact investor sentiment. Ethereum, however, sees a break in outflow trends, with $30 million in inflows within a week of Hong Kong ETFs' launch.

Bitcoin exchange inflows hit a decade-low, indicating long-term holders' reluctance to distribute, possibly signaling an accumulation phase. Analysts speculate Bitcoin may dip below $50,000 before resuming its climb to new highs.

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#Write2earn #Memecoin market Resurgence : Reasons behind that! #PEPE #WIF #FLOKI $FLOKI $PEPE $WIF Meme coins are making a comeback in the cryptocurrency market after a period of low activity. The resurgence of interest can be attributed to the return of famed meme trader Keith Gill, also known as Roaring Kitty, to social platforms on May 13. Gill, who gained prominence for his role in the GameStop short squeeze in 2021 and subsequent pump of Dogecoin (DOGE), has once again sparked excitement in the meme coin space. According to data from Santiment’s SanBase Pro, provided by Vinicius Barbosa for Finbold on May 14, there is a noticeable uptrend in meme coins. Among today’s trending coins, PEPE leads the pack, followed by FLOKI, DOGE, Shiba Inu (SHIB), and dogwifhat (WIF). Notably, the Ethereum-based meme token PEPE, featuring Pepe The Frog, has seen a remarkable surge of over 21% in the last 24 hours, reaching $0.000011. This level is reminiscent of the peak reached during the massive meme coin boom in early March. Furthermore, PEPE’s social dominance, represented by its share of the overall social interest in the market, has spiked to a record high of 2.46%. While other meme coins have yet to mirror PEPE’s price action, the increasing social indicators prompt traders to speculate whether the meme coin frenzy is resuming in cryptocurrency trading. The reactivation of Roaring Kitty’s X (formerly Twitter) account after three years of dormancy has added fuel to the fire. His latest post on May 12 depicts a meme of a ‘gamer’ actively engaging in trading, signaling his return to the scene. It’s important to note the inherent risks associated with trading meme coins or meme stocks. Experts caution against succumbing to “The Greater Fool” theory dynamics, reminiscent of financial bubbles, where late buyers incur substantial losses when speculative demand dwindles. As the market’s speculative nature unfolds, traders must exercise caution to avoid significant losses when the music inevitably stops.
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#Write2earn #Bitcoin Surges Above $61,000 Amidst Hotter-Than-Anticipated U.S. Inflation Data #BTC🔥🔥🔥🔥🔥 $BTC Bitcoin surged above the $61,000 threshold in response to the release of the eagerly awaited U.S. Producer Price Index (PPI) data, which surpassed expectations. Investors' attention now turns to the forthcoming U.S. Consumer Price Index (CPI) data for further market insights. The latest U.S. PPI figures, a crucial measure of inflation, exceeded forecasts, indicating a robust economic environment and heightened inflation levels. April saw a 0.5% increase in the U.S. PPI, surpassing the previous month's 0.2% uptick. On an annual basis, PPI surged by 2.2%, marking the most significant rise since April 2023. Core PPI, excluding food and energy prices, also surged by 0.4% month-on-month and 3.1% year-on-year in April, outpacing market expectations. The unexpected rise in inflation has sparked concerns in the market, particularly regarding the Federal Reserve's monetary policy stance. As inflation remains above the Fed's 2% target range, discussions on a potentially more hawkish approach by the central bank have intensified. All eyes are now on the upcoming U.S. Consumer Price Index (CPI) data, scheduled for release on May 14. Bitcoin's price has experienced volatility in recent days amidst macroeconomic and market uncertainties. Despite initial downward momentum post-PPI data, Bitcoin managed to maintain levels above $61,000. Inflationary pressures in the U.S. have dampened investor sentiment, raising apprehensions about potential delays in the Fed's interest rate plans. However, rising U.S. 10-year Bond Yields and a weakening U.S. Dollar Index Futures indicate ongoing market fluctuations. Currently, there's a 91.1% likelihood, as per the CME FedWatch Tool, of the Federal Reserve maintaining interest rates unchanged at its forthcoming meeting on June 12, 2024. BTC's price stood at $61,823.91, with trading volume up by 8.44% to $25.67 billion. Over the past seven days, Bitcoin observed a 3% decline, while registering a 4% drop in the last 30 days
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#Write2earn #PEPE COIN SURGES AS SMART MONEY ADDRESSES ENGAGE: NEW #ATH ACHIEVED #PEPEAscends #Memecoins $PEPE Pepe coin is outshining in the meme coin realm, hitting a new all-time high (ATH) with 250.5 billion PEPE tokens on the move. This year, Pepe coin has stood out in the meme coin market, defying market trends to reach new ATHs. Smart Money traders have taken notice, shuffling around 250.5 billion PEPE tokens, coinciding with the token's recent ATH. Smart Money Addresses Engage with Pepe Coin: Around 250.40 billion PEPE tokens were transferred in the past 24 hours, indicating smart money traders' activity. One address accumulated 406.74 million PEPE tokens from Binance, while another unloaded 250 billion PEPE tokens onto the exchange. Address 0x647, an early accumulator, still holds a significant amount, hinting at confidence in PEPE's potential. PEPE's Price Hits New Highs: PEPE's price surged by 19.68% in the past 24 hours, reaching $0.00001005, shedding a zero from its value. However, concerns about maintaining this level linger, with the RSI indicating overbought conditions, suggesting a possible correction
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#ETFvsBTC #Fidelity #Bitcoin ETF Leads $66M Influx in U.S. Spot Bitcoin ETFs Amid Market Recovery #BitcoinETF $BTC The Fidelity Bitcoin ETF (FBTC) spearheads a $66 million inflow into U.S. Spot Bitcoin ETFs, signaling renewed interest among investors amidst the ongoing market recovery. After a recent downturn, the U.S. Spot Bitcoin ETF sector experiences a resurgence, witnessing a significant $66 million influx over the last two days, reversing the previous week's outflow trend. Notably, data reveals that Fidelity's FBTC leads the current inflow, highlighting a fresh wave of investor enthusiasm for crypto-backed exchange-traded funds. This renewed interest coincides with a rebound in the Bitcoin price. Fidelity's FBTC Emerges as Inflow Leader Following consecutive days of outflows, the Bitcoin ETF market sees a turnaround with a substantial $66 million net inflow, as reported by Farside Investors. Notably, Fidelity's FBTC takes the lead, attracting $38.6 million in inflows, followed by Bitwise Bitcoin ETF BITB with $20.3 million. This influx also reflects renewed trader confidence in Bitcoin ETFs, coinciding with the cryptocurrency's recent price recovery, surpassing the $63,000 mark. Amid heightened market volatility, this resurgence in investor interest indicates a renewed appetite for cryptocurrency investments. The $66 million net inflow on May 13 marks a positive shift after two days of negative flows. While no ETFs experienced outflows, seven out of ten US Bitcoin ETFs, including Grayscale and BlackRock offerings, reported zero flows. Over the last 30 trading days, the ten Bitcoin ETFs saw a net outflow of $297 million, with outflows recorded on 17 of those days. Crypto Market Performance The $66 million influx into Bitcoin ETFs signals a renewed bullish sentiment among investors, with Fidelity's FBTC leading the charge. With Bitcoin's price rebounding and optimistic forecasts from analysts, the cryptocurrency market appears primed for further growth and stability.
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#Write2earn #Runes Protocol: Hype Fades as User Engagement Declines in #Bitcoin Ecosystem $ORDI $BTC #RunesLaunch User engagement has taken a nosedive following a period of heightened anticipation surrounding the launch of the Runes protocol, which some hoped would replicate Solana's thriving meme coin ecosystem. Activity within the Bitcoin Runes protocol has noticeably slowed over the past week, indicating a struggle to gain significant traction among users despite an impressive debut last month. Runes builds upon the Ordinals protocol, aiming to make transactions even more cost-effective and rapid. Ordinals involve embedding data into the Bitcoin blockchain by incorporating references to digital art within small Bitcoin-based transactions. Amidst much anticipation, Runes went live after Bitcoin's fourth halving on April 20. Data from Dune Analytics reveals that within its initial 10 days, the protocol saw over 85,000 token issuances and generated more than $3 million in fees. However, over the past fortnight, all metrics, including fees, new Runes, and user activity, have plummeted by over 50%. Since May 1, only around 5,000 new Runes have been issued, resulting in just under $100,000 in fees. At its peak, Runes dominated transactions and fees across the broader Bitcoin ecosystem, accounting for up to 80% of all network activity. Now, that figure has dwindled to 20%. It's essential to note that this decline coincided with a general market downturn marked by decreasing Bitcoin prices and sluggish growth in alternative tokens, potentially impacting sentiment towards innovative technologies. Tailored for meme enthusiasts and daring traders, Runes garnered substantial attention on social platforms ahead of its launch. Creator Casey Rodamor aimed to position it as a protocol ripe for meme coin trading and "degen" traders. Some industry insiders anticipated that the protocol would emulate the thriving meme coin landscape on blockchains like Solana and Base, which likely fueled interest and speculation on obscure memes.
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