**Latest News Related to Bitcoin - May 2024**

Bitcoin showed signs of recovery in May after experiencing a decline in the previous month. Bitcoin prices hit a two-month low of $56,800 but have since strengthened to near $70,000. Factors that could potentially drive a further rally include positive regulatory developments and increasing institutional adoption [[❞]](https://www.binance.com/id/square/post/2024-05-04-bitcoin-s -potential-rally-in-may-factors-and-indicators-7648271731609).

On the other hand, the London Stock Exchange will start listing Bitcoin Exchange Traded Notes (ETN) at the end of May 2024. This step marks a change in attitude from the British regulator, which was previously very strict towards crypto products. This ETN is expected to only be available to professional investors, in line with existing regulations [[❞]](https://coinvestasi.com/berita/bursa-effect-london-akan-listing-etn-bitcoin-pada-mei-2024) .

The price of Bitcoin also registered a significant increase, reaching IDR 651 million (approximately $44,000) in early May, the highest since May 2022. This increase was fueled by enthusiasm for the reduction in US interest rates and the possible approval of a Bitcoin ETF on the US stock market. Other factors include a massive purchase by Michael Saylor of MicroStrategy which has increased Bitcoin accumulation to a total of 174,530 BTC [[❞]](https://money.kompas.com/read/2023/12/06/072634726/harga-bitcoin -highest-reach-rp-651-million-since-may-2022).

This positive move removes some of the concerns that plagued the crypto market following the FTX collapse and other crypto business failures in 2022, and shows an optimistic trend in the market [[❞]](https://money.kompas.com/read/2023/12/ 06/072634726/bitcoin-price-translucent-rp-651-million-highest-since-may-2022).$BTC #Binance