📊 Daily Crypto Market Update 📊
1. Market Overview
- Global Market Cap: 3.10 (previously 3.07T) via Coingecko
- Top Movers: FLR, AVA, ADA, EOS, HYPE, LEO
2. Altcoin Market Trends 📈
- Most altcoins cooled-off in response to continued tensions in the macro economic environment. Although there was still inflows onchain from the newly created "POPE" coin after Trump posted a picture of himself as the Pope and the Whitehouse QT'd it. This shows there's still an interest in memecoins despite the chop in the overall market.
3. Key News Headlines 📰
- Regulatory Updates: UK preparing to ban consumers from buying crypto with borrowed funds
- Partnerships or Integrations: Visa and Bridge partner to launch stablecoin-linked cards
- Major Developments: Apple’s Revised US App Store Guidelines Ease Crypto App Payment and NFT Barriers
4. Upcoming Events ⏩
- May 7th FOMC meeting
- May 30th FTX starts $11.4B of creditor payouts
5. Summary ✍️
The market had a nice run over the past week but is starting to get exhausted due to ongoing China/US tariff negotiations and lack of resolution in the Russia/Ukraine war. It's also the weekend so liquidity is low which adds to the chop. We did have positive ETF inflows for BTC and ETH on Friday which shows institutions are still interested in investing but I'll wait for Monday to see if that continues. Until then, continue to bid at major support levels on the daily/weekly timeframe until they're broken. As long as we hold 95k, I'll remain bullish.