$ETH $ETH
$ETH 📈 Market in Numbers: Bitcoin and Ethereum Continue to Rise
Bitcoin (BTC) is trading at $103,944, just 4% below its all-time high, driven by positive news about progress in U.S.-China trade negotiations. Ethereum (ETH) is also rallying, reaching $2,560.29, fueled by its recent network upgrade, Pectra, aimed at improving scalability and reducing fees.
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🏦 Institutional Investments and Forecasts
Standard Chartered Bank highlights that inflows into spot Bitcoin ETFs over the past three weeks exceeded $4 billion, potentially pushing BTC above $120,000 in Q2.
Meanwhile, Coinbase has abandoned Michael Saylor’s strategy of allocating significant capital to Bitcoin, citing potential business risks.
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🌐 Global Events and Regulatory Shifts
President Trump announced significant progress in U.S.-China trade talks, boosting crypto market sentiment.
However, Democrats in the U.S. Congress have raised concerns about Trump’s potential conflict of interest, slowing the passage of cryptocurrency and stablecoin legislation.
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🧩 Altcoins and Tech Updates
**XRP**: Analysts note that XRP’s current cycle differs from past trends, with the token maintaining an upward trajectory despite market volatility.
**Solana (SOL)**: Price predictions for SOL by May 11, 2025, vary widely, reflecting broader market uncertainty.
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🚨 Security Incidents
Two Florida teenagers face charges for kidnapping and stealing $4 million worth of cryptocurrency and NFTs in Las Vegas, underscoring the need for stronger security measures in the crypto space.
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📅 Looking Ahead: May Events
**Canada Crypto Week** will take place in Toronto from May 11–17, featuring the Consensus and Blockchain Futurist Conference, events that could impact market dynamics.
Over $81.9 million in tokens, including ENA and SPEC, are set to be unlocked, potentially affecting liquidity and prices.