💸😃😗😳😔
THE US HOUSE OF REPRESENTATIVES VOTED TO PASS A BILL TO ALLOW FINANCIAL FIRMS TO HOLD BITCOIN AND CRYPTOCURRENCIES.
THE BILL WILL BE REVIEWED BY THE SENATE AND IF THEY AGREE IT WILL GO TO THE PRESIDENT.
HOWEVER, PRESIDENT BIDEN ALREADY STATED THAT HE WOULD VETO THE BILL BECAUSE HE BELIEVES IT COULD INTERFERE WITH THE SEC'S EFFORTS TO PROTECT INVESTORS AND THE FINANCIAL SYSTEM.
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The EU’s securities watchdog is asking stakeholders whether it should include crypto assets into investment products. The move opens the door to broader access to cryptocurrencies via UCITS, a €12 trillion market. DLNEWS
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#Mysteryofcrypt
#BTC_Update 1M
- 2012: $BTC peaked <365 days post-halving.
- 2016: $BTC peaked <520 days post-halving.
- 2020: $BTC peaked <549 days post-halving.
If History repeats, then the next #BTC Bull Market Peak could be around 400-500 days after Halving.
This means #Bitcoin could peak around July-August 2025.
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On May 8, the total net inflow of Bitcoin spot ETF was $11.5409 million. Grayscale ETF GBTC has no inflows and outflows. Bitwise ETF BITB saw a single-day net inflow of $11.5409 million. The total net asset value of Bitcoin spot ETFs is $51.504 billion. — link
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🐳 As #Bitcoin ranges tightly between $61K and $64K, large whales have made some accumulation moves over the past 24 hours. Wallets with 1K-10K $BTC have collectively accumulated ~$941M worth of coins, rebounding to their highest holding level in 2 weeks.
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🇺🇸 Congressman Sean Casten introduces the "Blockchain Integrity Act" to "temporarily prohibit financial institutions from transacting with funds that have gone through digital asset mixers" while the SEC and DOJ "conduct a study on their illicit uses."
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Relief is on the horizon for #Bitcoin miners with an anticipated -6% difficulty adjustment in less than 24 hours.
This comes as the hash price hovers near all-time lows of $48 Ph/Day.
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The #Bitcoin funding rates keep making me feel so bullish...
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#ki_young_ju
#Bitcoin network fundamentals could support a market cap three times its current size compared to the last cyclical top, potentially sustaining a price of $265K.
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#DaanCrypto
> Prices Bounce 15% from their lows on average.
> People euphoric, all time highs next.
> Prices come down 5% on average.
> Ok this is it, cycle might really be done again.
Somehow the expectation of the average market participant is that we're either going to move up or down in straight line. Has it ever been that way?
Even if this were to be the start of a move up or reversal, have some patience as higher lows are created (or not) and don't expect everything to move as quickly as you want it to.
#Bitcoin is already way ahead of where it would usually be at this point in the cycle.
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#Bitcoin is still holding the most important support level.👀
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Bitcoin 🚧 key levels.
Resistance:
STH 1W-1M Realized Price: 65.1K
STH 1M-3M Realized Price: 64.8K
Support:
SMA 111D: 58.8K
STH Realized Price: 58.7K
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Gary Gensler, chairman of the U.S. SEC, said that the SEC oversees a $110 trillion capital market, of which cryptocurrencies are only a small part, but a huge part of the problem of fraud. He did not directly respond to the question of whether Ethereum is a security or a commodity, but said that the fundamental problem is how to ensure that U.S. investors are protected, that they do not receive the required disclosures. — link
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20’ to the closing of the trading day, and still no transactions from $GBTC, first time happening from ETFs launch.
👀 for today flow
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Vitalik published a new article discussing "Multidimensional gas more generally": there may be value in adding a separate gas dimension for state size increasing operations, but with a differnet goal: we could set a floating price to target a specific average usage, but set no per-block limit at all. — link
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#BTC_Update
The monthly change in Open Interest is still in the negative zone at -20% - traders are closing more positions than they are opening new ones.
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#BTC_Update
liquidation heatmap (1 week)
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MarketVecto, a subsidiary of American asset management giant VanEck, launched the Meme Coin Index, including Dogecoin (30.77%), Shiba Inu (28.34%), Pepe (14.51%), dogwifhat (12.54%), Floki Inu (7.14%) and BONK (6.7%) ). The Meme Coin Index has returned 137.96% so far this year, making it the best-performing index on MarketVector. — link
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💸😃😗😳😔
Biden Admin would veto proposed legislation that would allow highly regulated financial firms to custody #Bitcoin 😮
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According to Bloomberg, Binance CEO Richard Teng accused Nigerian officials of demanding a $150 million cryptocurrency payment to resolve a criminal investigation facing the company. The Nigerian government has denied Binance’s accusations that its officials solicited bribes. — link
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No major liquidation in 25 days.
The market's hungry for a game-changing event.
Big $BTC move on the horizon.
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#intocryptoverse
“Alt Season” is when #BTC dominance craters, as people take profits from BTC and put it into altcoins
A macro BTC dominance uptrend, which is what we have been in, suggests that this is not alt season, nor has it been. This chart shows the last alt season we had was in 2021
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According to Cointelgraph, the Binance investigation team stated that it studied all smart contracts of ZKasino, find out the actual controller and send the information to law enforcement. A 26-year-old man was arrested in the Netherlands on May 3 in connection with the ZKasino scam. — link
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Japanese cryptocurrency exchange Coincheck is expected to list on Nasdaq under the symbol "CNCK" via SPAC in the second or third quarter of 2024, becoming another listed major exchange after Coinbase. Coincheck has 1.98 million verified customers. — link
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#CryptoYoddha
$ETH cycle this year is going to be crazy
Top in 2025
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🔡🔡🔡🔡
FTX, BlackRock, SEC, CFTC
1.FTX creditors will receive 142%-118% compensation;
2. Data: There are 168 asset managers holding BlackRock IBIT;
3. Germany's KFW bank will issue blockchain-based digital bonds;
4. SEC Chairman: Crypto investors have not been properly disclosed;
5.CFTC Chairman: Cryptocurrencies face inevitable wave of enforcement actions;
6.HODL15Capital: Upbit is only the custodian of cold wallet "Mr.100";
7. Option Agreement Lyra launched LDX token airdrop activity, LYRA snapshot has been completed;
8.Wintermute will provide liquidity for Hong Kong spot Bitcoin and Ethereum ETFs
9.Tensor announced that claims for additional allocated tokens for premium users of the protocol are now open
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Asia Crypto Venture LD Capital, Bitmain's Antalpha Ventures, and Highblock have jointly established Hong Kong's first crypto ETF liquidity fund, valued at $1 billion HKD (~128M USD). The fund is designed to provide market-making services to Hong Kong ETFs. — link
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#Bitcoin ETF Volume results of Tuesday 7th of May (81st trading day):
🥇 $IBIT $519M
🥈 $GBTC $292M
🥉 $FBTC $206M
🪵🏅$ARKB $64M
Total Volume for The Nine: ~$0.85B
-40% vs yesterday volume.
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#rovercrc
#BTC_Update 2W
Is about to have a MASSIVE CRASH!
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