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Words from the wise... 

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SEC Postpones Verdict on XRP and Dogecoin ETF Applications The US Securities and Exchange Commission (SEC) has postponed its decision on ETF applications related to XRP and Dogecoin. Bitwise proposed the Dogecoin ETF, while Franklin Templeton filed for the XRP fund. The SEC has extended its review period to June 15 for the Dogecoin ETF and June 17 for the XRP-based one to ensure sufficient time for considering the rule changes and any associated issues. However, experts predict more delays until Q4 2025. The SEC also postponed decisions on other crypto ETFs, including a Solana fund from Franklin and Grayscale's Hedera ETF. The delay in the XRP ETF decision comes shortly after the SEC approved three futures funds from ProShares, set to launch on May 14.

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Evaluation of Bitcoin's Value: Intensifying Sale Pressure as Bitcoin Struggles with $95K Resistance Level Bitcoin is encountering increasing resistance around the $95K mark, signaling a possible market correction before a potential surge. After breaking past the 100- and 200-day moving averages, Bitcoin approached the critical $95K level, where bullish momentum began to fade, suggesting a possible pullback to the $90K zone. This zone represents significant support, and if maintained, could set the stage for another bullish momentum. On a 4-hour timeframe, indications of a short-term correction were also observed. On-chain analysis reveals a pattern of negative funding rates even during rallies, indicating a lack of market confidence. This pattern often leads to short-term pullbacks, which could eventually strengthen the overall bullish structure.

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Evaluation of Ripple's Value: Is XRP's Momentum Depleting After a 9% Weekly Surge? Ripple's price has reached a significant level at the $2.4 mark, which is in line with key resistances, and there seems to be insufficient bullish momentum. This could result in a sideways consolidation before a breakout. The $2.4 zone, which aligns with the upper boundary of a long-standing wedge pattern and the 100-day moving average, presents a formidable barrier for bulls. The market is likely to see a period of sideways consolidation due to the lack of adequate demand and momentum. On a lower time frame, a potential three-drives pattern suggests buyer exhaustion at the $2.4 mark. Even if Ripple breaks above $2.4, the next challenge is around $2.5, and the crucial $3 mark can only be targeted after overcoming these levels. However, a minor pullback seems likely in the short term.

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Have Retail Investors Arrived as Bitcoin (BTC) Nears $95K Mark? Cryptocurrency rallies have traditionally seen the involvement of retail investors. However, the cycle that started post-US elections seemed to lack these participants. Bitwise’s CEO, Hunter Horsley, suggested that the recent BTC price rally from $75,000 to $95,000 was driven by institutions, advisors, corporations, and even nations, with retail investors yet to make a significant appearance. However, Santiment, an analytics platform, suggested that retail traders have shown confidence in the crypto markets, as indicated by an increase in social media posts predicting BTC price surges. Similarly, IntoTheBlock noticed a significant increase in balances of short-term traders, primarily retail investors, supporting the view that the current move may be part of a broader uptrend.

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Celsius Network's CEL Skyrockets by 80% Amidst Calls for 20-Year Jail Term for Founder Alex Mashinsky by US DOJ Celsius Network's native token, CEL, surged by 80% following the US Department of Justice's (DOJ) request for a 20-year prison sentence for former CEO Alex Mashinsky, accused of financial misconduct and deception over several years. Despite the recent surge, CEL is still well below its all-time high of over $8 in June 2021. The DOJ alleges that Mashinsky manipulated CEL's price, profiting from selling his personal tokens at inflated prices, and misled customers about the company’s handling of deposits. Celsius Network, once a prominent crypto lending platform, filed for bankruptcy due to liquidity issues and halted customer transactions. Investigations revealed Mashinsky's misuse of customer funds and price manipulation of CEL. He was arrested on multiple fraud charges and later released on a $40 million bond.

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