In a series of emphatic tweets, market analysts have sparked interest among cryptocurrency enthusiasts with predictions of an imminent upward trajectory for Bitcoin. A key psychological threshold of $72,000 is anticipated to trigger significant market movements, possibly leading to a “liquation cascade” that could liquidate approximately $1.5 billion in short positions. This event is expected to propel Bitcoin’s value towards an unprecedented high of $75,000.

Technical Analysis Signals Major Move
Adding to the bullish sentiment, technical analysts have identified a falling wedge pattern in
recent price charts, signaling a potential surge to $85,000. This technical formation suggests that Bitcoin’s price is consolidating and is poised for a significant breakout. The enthusiasm in the crypto community is palpable as Bitcoin appears ready to move swiftly towards these targets.

If these predictions hold, the market could see a dramatic shift in investor sentiment and trading volumes. This potential rise would benefit those holding long positions and significantly impact the broader market landscape by attracting new investors and reinforcing confidence in cryptocurrency as a viable investment asset.

Bitcoin’s hash rate stabilizes post-halving, while regulatory concerns emerge over Maximum Extractable Value (MEV) risks.
Bitcoin’s hash rate showed resilience, while BTC struggled to cross the $70k mark. European regulatory response targets potential market abuse risks associated with MEV.

Unlike previous years, the fourth Bitcoin [BTC] halving was quite different. While miners’ block subsidy rewards have now been reduced from 6.25 BTC to 3.125 BTC, they continue to earn additional transaction fee rewards for each block mined.
In past halvings, Bitcoin’s hash rate dropped due to insufficient transaction fee rewards. This time, the hash rate stayed near all-time highs, rising from 630 EH/s to 640 EH/s post-halving, driven by increased transaction fee rewards.

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Amid regulatory anticipation, market analysts are eagerly awaiting the SEC’s decision on the approval of an #Ethereum ETF. High expectations for approval are creating significant buzz in financial circles. Speculations indicate that altcoins like #Solana (SOL) might be included if an #Ethereum ETF gets the green light. Analysts believe this could set off a domino effect, paving the way for more spot ETFs across various cryptocurrencies.

In a recent CNBC interview, BKCM CEO Brian Kelly speculated that Solana might be the next cryptocurrency to receive an ETF. Adding to the buzz, rumors from Hong Kong suggest that an issuer is preparing for a SOL ETF. However, Solana faces unique challenges. Unlike Ethereum, it currently lacks a futures ETF and has been classified as a security by the SEC, complicating its ETF prospects. Additionally, a major ETF issuer has expressed disinterest in launching ETFs beyond Bitcoin and Ethereum, further complicating the path for a potential Solana ETF.

#btc70k #altcoins

$BTC $SOL $ETH

BlackRock’s spot Bitcoin exchange-traded fund (ETF) has generated significant traction, accounting for 95% of the total inflow into United States spot Bitcoin ETFs on Tuesday.
The combined inflows for these ETFs surpassed $300 million, a substantial boost for the market.
Preliminary data from Farside Investors reveals that BlackRock’s iShares Bitcoin Trust (IBIT) witnessed a substantial inflow of $290 million on May 21. 
When considering all eleven ETF issuers combined, the net inflow amounted to $305.7 million.
Notably, this marks a reversal in the trend of zero or minimal inflows observed over the past six weeks.

BlackRock’s ETF Sees Uptick in Inflows
The recent influx of funds into BlackRock’s ETF represents the highest level since April 5, eclipsing the cumulative inflows witnessed over the past 21 trading days.
In the context of a volatile Bitcoin rally, spot Bitcoin ETFs have experienced over $1 billion in inflows during the past four trading days.
Taking into account the latest daily figures, BlackRock’s IBIT has accumulated a total of $16 billion in inflows since its launch, as reported by Farside Investors.
However, the official website for the product displays assets under management (AUM) of $19 billion.
This positions BlackRock’s IBIT in close proximity to industry leader Grayscale, whose GBTC spot ETF boasts $20 billion in AUM, according to official records.
Conversely, Grayscale’s GBTC recorded zero inflows on May 21, extending the streak of five consecutive trading days without outflows.
Within the past five days, the fund has witnessed inflows of $72.5 billion, marking a reversal from a four-month trend characterized by consistent outflows.
#btc70k #ETHETFS #altcoins #BinanceLaunchpool
$BTC $ETH $BNB

BNB price crossed the $631 mark on Tuesday May 21, just 8% shy of reaching new all-time highs, despite Binance’ high-profile legal squabbles with regulators in USA and Nigeria.
BNB Surges, Despite Changpeng Zhao sack, Nigeria FUD

Binance-launched BNB coin price emerged on of the mega-cap crypto top gainers on May 21, as news of imminent Ethereum ETFs approval picks up steam.
BNB’s remarkable 7% price surge in the last 48-hours saw the BNB chain native token rise from each a 65-day peak of $631
BNB’s remarkable 105% year-to-date price comes at a period that Binance exchange has been under intense regulatory scrutiny.
Notably, BNB price had crashed 11% on November 26, 2023, when it was announced that US SEC fined Binance $4.6 billion in a settlement that saw Founder/CEO Changpeng Zhao step down.
The negative sentiment grew in 2024 when Nigeria arrested two Binance employees on currency manipulation charges.
Despite rapid withdrawals and dwindling trading volumes, and growing market FUD surrounding Changpeng Zhao sentencing, BNB price action has turn the tide.
With the anticipated approval of the Ethereum ETF, market dynamics are expected to shift favorably for exchange tokens like BNB.
As investor participation surges amidst rising prices, trading volumes and user base is expected to skyrocket across major exchanges such as Binance, increasing the value accruing to BNB holders.
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#BNB #altcoins #BNBToken

According to Bloomberg ETF analyst Eric Balchunas, the U.S. Securities and Exchange Commission's (SEC) recent interaction with potential spot Ethereum ETF applicant companies represents a significant shift in the outlook for potential approvals.
Next steps include approving forms 19b-4 and S-1 registration statements. Balchunas noted that due to the unique nature of the issue, this may take longer than usual. Once these are met, trading can begin.

Overcoming the possible approval issue is the most important thing. Now it's all about logistics and legal documents,” he said.
Unlike spot Bitcoin ETF approvals, where the SEC meets with prospective issuers for weeks before finalizing the forms, the SEC began meeting with prospective Ethereum ETF issuers just days before the May 23 deadline for a final decision on the VanEck Ethereum ETF.

Despite the time constraint, Balchunas believes the process should be made easier. “They just completed the Bitcoin process a few months ago, so there will be a lot of copy and paste,” he said.
In the Bitcoin ETF process, issuers like BlackRock have launched spot Bitcoin ETFs with $10 million in seed capital, with billions of dollars of capital reportedly lined up. But Balchunas doubts that will be the case with Ethereum ETFs, in part because the SEC stepped in at the last minute.
“Everyone was pretty optimistic during the Bitcoin ETF process, so they had time. That's not the case right now,” he said. However, he did not rule out that BlackRock could do something quickly.

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#btc70k #ETHETFS #altcoins #BinanceLaunchpool

Ethereum ETFs could get the green light this week, says Standard Chartered—and both Bitcoin and Ethereum will set new high prices as a result.
Ethereum (ETH) exchange-traded funds will get approval from the Securities and Exchange Commission this week, Standard Chartered believes—and the prices of both ETH and Bitcoin (BTC) will rocket upwards as a result.
The British multinational bank’s digital assets researcher Geoff Kendrick wrote Tuesday that if the SEC approves ETH exchange-traded funds (ETFs) on Thursday, as expected, the price of the asset could rocket—and hit $8,000 by the end of the year. 
ETH is currently trading at $3,770, according to CoinGecko, having shot up 22% in 24 hours after rumors swirled yesterday that a spot Ethereum ETF could hit the U.S. market sooner rather than later. 
But the price of ETH isn’t the only thing that could benefit: Kendrick added that Bitcoin could face big upwards pressure, too. “The ETH news, if correct, comes at an opportune moment for BTC,
An ETH ETF approval will further legitimize the sector and therefore be BTC-positive as well,” he continued, adding that he “would expect a fresh all-time high in BTC by the weekend.”
BTC’s price now stands at $70,314 per coin. It touched an all-time high of $73,737 in March, but had remained well below the $70,000 mark for much of the last month.

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#btc70k #altcoins #ETHETFS