📊 Daily Crypto Market Update 📊
1. Market Overview
- Global Market Cap: 3.07 (previously 3.08T) via Coingecko
- Top Movers: KCS, LEO, SUI, ALPACA
2. Altcoin Market Trends 📈
- Alts have finally taken a breather as BTC stagnates near 95k and memes outperform. ALPACA recently pumped 300% on delisting news which shows manipulation is still at an ATH. Most are waiting to see what BTC does over the next few days as even institutions are taking a risk-off approach amid lower ETF flows until there's more clarity.
3. Key News Headlines 📰
- Regulatory Updates: United Kingdom to collaborate with the US to boost adoption of cryptocurrency
- Partnerships or Integrations: Bitget and Avalanche form crypto partnership in India
- Major Developments: Trump's Truth Social explores launching its own crypto token and wallet
4. Upcoming Events ⏩
- Apr 30th-May 1st Token 2049 Dubai
- May 7th FOMC meeting
- May 30th FTX starts $11.4B of creditor payouts
5. Summary ✍️
The market is still holding up fairly well considering the uncertainty surrounding the macro environment. There's been recent tensions between Pakistan and India where Pakistan claims it has ‘credible intelligence’ India will strike within 36 hours. This, along with the tariff wars and Russia/Ukraine means investors are taking a risk-off approach until there's more clarity. We also have the FOMC meeting May 7th but the majority are expecting no interest rate cuts. The silver lining is Trump's Truth Social exploring launching its own crypto token and wallet which would mean the president would be endorsing and legitimizing the idea of a blockchain IPO, all done officially. This would be a white swan event that would override any macro uncertainty imo. Until then, continue to manage risk and take advantage of the volatility.