⚠️ SEC Labels Upcoming Ripple Stablecoin as an Unregistered

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📈 Bitcoin Hits $66K as Soft Inflation Data Sparks Crypto Rally BTC climbed to its highest price since April 24, while Solana's SOL and NEAR led crypto gains. Bitcoin could target the $84,000 level with altcoins performing well, Swissblock said. Crypto markets rallied with Wednesday's as softer-than-expected U.S. inflation data jolted digital assets from their stupor. Bitcoin (BTC) surged past $66,000 for the first time since April 24, and was recently up more than 7% over the past 24 hours. Ether (ETH) changed hands near $3,000 but underperformed with a 4% advance during the same period. Solana (SOL) and near (NEAR) led gains among crypto majors with 8% and 12% jumps, respectively, and the broader market benchmark CoinDesk 20 Index (CD20) was up 6%. The rally occurred as April U.S. Consumer Price Index (CPI) figures edged lower from March, coupled with a slightly sluggish retail sales report. The data came as a relief for investors fearing that reaccelerating inflation and a red-hot economy might force the Federal Reserve to walk back its dovish pivot and even consider interest rate hikes. "Investors consider this as a bullish regime shift, as it marks the first decrease in CPI inflation over the last three months," Bitfinex analysts said in a market update. This, together with the Federal Reserve previously announcing its intention to taper the central bank's balance sheet run-off, "is seen as a favorable print for risk assets," Bitfinex added. Looking at traditional markets, U.S. equities also climbed during the day, with the S&P 500 index gaining more than 1% and hitting a fresh all-time high, underscoring the return of risk appetite. Today's bitcoin surge also marked a break-out from a downtrend that capped prices for the last few weeks, Swissblock analysts said in a Telegram update. "BTC [is] finally making the bigger move," Swissblock said. "We have been waiting for the trigger for the release of a larger structure since March high. Today we got that," referring to the CPI and retail sales numbers. $BTC #BTC $SOL $NEAR

🔥 Binance is proud to present Spot Copy Trading! 🔸 Binance Introduces New Spot Copy Trading Option The spot copy trading feature has been announced by Binance. With it, users can mimic the trading strategies of other traders. A comparable option was introduced on Binance Futures by the firm in October 2023. Spot copy trading is now available on Binance, a cryptocurrency exchange. 🔸 We paid attention to your request. Quoted from Binance’s May 15, 2024 tweet: According to the message, customers now have the option to directly mimic the trading strategies of seasoned traders. Binance went on to clarify how copy trading works in the futures market as opposed to the spot market: One key distinction is the nature of the assets that are exchanged. While futures traders frequently employ leverage, spot traders purchase and sell cryptocurrencies at the current market price. Potential profit and risk can both rise as a result of this. It has been confirmed that users of the exchange will have the capability to replicate the actions of ten traders simultaneously. Users will also receive a discount of 10% on trading commissions and 10% of their copy traders’ profits, according to the message. According to the company, a portfolio of experienced traders should be between $500 and $250,000, and there should be no more than 200 copy traders. Don’t forget that Binance Futures had a comparable feature when it was launched in October 2023. #Binance #trading

🔥 Experts Spot Shiba Inu’s Triangle Pattern Shiba Inu (SHIB), the meme token, is currently exhibiting a descending triangle pattern, as identified by market analysts. The token is trading near its lower trend line, which is a crucial support level. This pattern typically suggests a continuation of the declining price trend. If the downward momentum persists, SHIB could potentially break below this support, leading to further price decreases. Experts are closely monitoring SHIB’s price movements for any signals of impending breaks below the support line. 🔸 What Does SHIB’s RSI Indicate? Shiba Inu’s relative strength index (RSI) is currently at a neutral level of 50.0, but it has been on a declining trend. A falling RSI might indicate that selling pressure is increasing, potentially surpassing buying pressure among investors. Additionally, the Elder-Ray Index for SHIB has been negative since early April, showing that bearish forces are dominant. The current Elder-Ray Index for SHIB stands at -0.0000017, reinforcing the bearish outlook. 🔸How Could Fibonacci Retracement Affect SHIB? If bearish forces push SHIB below the lower trend line of the descending triangle, Fibonacci Retracement data suggest the token could drop below $0.00002 and potentially trade at $0.000013. Conversely, if market sentiment shifts and bulls take control, SHIB’s price could rise to $0.000027. Despite the decreasing value of SHIB, futures market activity has remained strong, with a notable increase in open futures positions since early May. 🔸 Key Market Observations Several critical insights can be drawn from current market data: SHIB’s RSI declining towards 50.0 indicates increasing selling pressure.The negative Elder-Ray Index points to bearish dominance in the market.Potential price levels identified through Fibonacci Retracement data suggest critical support and resistance zones at $0.00002 and $0.000027, respectively.An increase in open futures positions signals heightened market activity and interest. $SHIB #SHIB

📈 Why Did Bitcoin (BTC) Price Rally Today? What Can Happen Next? Here’s What Analysts Say Bitcoin experienced its most significant increase since March after the April consumer price index (CPI) was announced, which showed that the inflation rate in the United States had decreased. BTC price increased significantly along with US stocks today. The consumer price index (CPI), a comprehensive measure of the cost of goods and services at the point of sale, rose 0.3% from March, according to a report from the U.S. Department of Labor's Bureau of Labor Statistics. This figure was slightly below Dow Jones' estimate of 0.4%. Despite this, consumer prices continue to increase by 3.4% on an annual basis. Oppenheimer analyst Owen Lau stated that the CPI being slightly lower than expected increases the possibility of an interest rate cut. He noted that interest rate cuts continue to have a strong impact on Bitcoin's price. “After ETFs and the halving, the next big catalyst is a rate cut. Until we see a clearer path for a rate cut, Bitcoin is likely to stick with macro data points and trade alongside them,” he said. According to analysts, the decline in core CPI in the US for the first time in six months may lead to a revival in investors' appetite for riskier assets such as cryptocurrencies. This could lead to an increase in flows into Bitcoin spot ETFs, which have been particularly inactive over the past week, according to 21Shares analyst Leena ElDeeb. However, ElDeeb added a note of caution, saying the recovery could be slow due to ongoing uncertainty regarding interest rate cuts. “Generally, higher interest rates make risky assets such as technology stocks and Bitcoin less attractive, as investors can earn significant returns from safer options such as U.S. bonds,” ElDeeb said. $BTC #BTC #Bitcoin

⭐️ Ethereum (ETH) Major Metric Signals Huge Rebound, Says Analyst Ethereum (ETH) is on the brink of a substantial recovery, as indicated by prominent crypto analyst Ali Martinez. The analyst’s recent tweet has sent ripples across the digital asset sphere, highlighting a crucial technical indicator that suggests ETH's potential for a notable price upswing. Renowned for his keen observations within the crypto market, Martinez took to X to explain that the TD Sequential of ETH has revealed a buy signal on the daily chart. He noted that this crucial signal indicates the potential for the Ethereum price to experience a rebound spanning one to four candlesticks. 💬 The TD Sequential presents a buy signal on the #Ethereum daily chart! It anticipates that $ETH could see a rebound of one to four candlesticks. This observation comes at a pivotal moment for Ethereum, which has witnessed a tumultuous period characterized by fluctuating prices and market uncertainty. At the time of reporting, ETH’s current price stands at $2,910, marking a marginal decline of 0.01% over the last 24 hours. However, zooming out to a broader perspective reveals a more significant downtrend, with Ethereum plummeting by 10.80% over the past 30 days. This downward price trajectory of ETH has left investors and enthusiasts alike on edge, eagerly awaiting signs of a price reversal. 🔸 Hope for community Martinez's assertion provides a glimmer of hope for Ethereum proponents, suggesting that the cryptocurrency may be poised for a resurgence. The TD Sequential indicator, a technical analysis tool utilized to identify potential trend reversals, has historically proven to be a reliable metric within the crypto space. With its recent alignment in favor of ETH, anticipation for a bullish reversal has intensified among traders and investors. Despite the recent bearish sentiment surrounding Ethereum, the prospect of a rebound underscores the resilience of the digital asset and its underlying blockchain network. #ETH

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