📊 Daily Crypto Market Update 📊

1. Market Overview

- Global Market Cap: 3.52 (previously 3.63T) via Coingecko

- Top Movers: XMR, AAVE, FTN, KCS, TRX, QNT

2. Altcoin Market Trends 📈

- Alts had a pullback across the board which is understandable after the rally we had all week + high ETF flows. This is where you look for alts showing relative strength and bid those at major support levels.

3. Key News Headlines 📰

- Regulatory Updates: Treasury Secretary Bessent says "digital asset companies deserve regulatory clarity and that's exactly what we are working toward."

- Partnerships or Integrations: BoomFi and Paytiko Announce Strategic Partnership to Bring Crypto Payment Rails to Merchants Worldwide.

- Major Developments: Polygon co-founder Mihailo Bjelic steps down, becoming the third co-founder to leave since 2023 and Trump recommends 50% tariff on the European Union starting June 1st.

4. Upcoming Events ⏩

- May 27th-29th Bitcoin Conference, Las Vegas

- May 30th FTX starts $11.4B of creditor payouts

5. Summary ✍️

The main reason for the market pullback was Trump's recent announcement of a 50% tariff on the European Union starting June 1st. This increased market uncertainty and caused many to take a risk-off approach. We also had extremely high BTC ETF inflows yesterday near 1B which is always a local top indicator. I expect we'll continue to chop/decline over the Memorial weekend and then have a relief rally sometime next week. Remember we also have the BTC conference next week with JD Vance speaking which will also create some hype but could be another "sell the news" event. Until then, I'm still eyeing alts with strong relative strength and betting those at major support levels. There are still plenty of opportunities in this market if you're patient and wait for them to come to you.