☀️Morning review of the crypto market.
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〽️BTC started Wednesday sideways. The BTC minimum for the day was $69,191, the maximum was $71,426. The BTC market cap fell by 1.83% to $1.37 trillion, followed by a drop in trading volume by 18.43% to $40.73 billion. Meme coin PEPE in the top growth, this is not surprising.
🪙$BTC is trading around $70,032
🔷$ETH fluctuates around - $3,770
📈The most growth in a day was shown by $PEPE +23.47%
📉The biggest drop was shown by BEAM-7.95%
📊Indicators:
😨Fear and greed index - 76
💲Altseason index - 37
📈Long/Short ratio - 47/53
💰Crypto market capitalization - $2.53 trillion.
👑Bitcoin dominance - 54.46%
🔹Everyone wants approval, scufs from SEC ETH-ETF. Already 5 asset management companies have amended their applications to launch Ethereum-ETF. The deadline for the VanEck ETH-ETF is Thursday (May 23).
❗️There is information that the decision to speed up the approval process for ETH-ETF may have more political motives than the awakened adequacy of the SEC. Remember - last week the SEC was completely unwilling to even talk to the issuers of the Ethereum ETF, and now they suddenly decided to approve it.
📰News:
▫️BTC received the correction that “we needed” and now it “can continue its upward macrotrend,” analysts say;
▫️Yesterday, the net inflow into spot BTC-ETFs amounted to +$305.7 million. The inflows have been going on for a week;
▫️Ticker for spot ETH-ETF VanEck has been added to the DTCC website;
▫️The hacker who hacked Gala Games returned $22 million to the project developers;
🔮Forecast:
BTC was well above the 50-day and 200-day EMA, confirming the bullish trend. A return of BTC to $71,000 could give the bulls an opportunity to reach the all-time high of $73,808. A break above $73,808 would lead to the $75,000 mark. Conversely, a fall in BTC through the $69,000 support could signal a fall in BTC towards the 50-day EMA and resistance level at $64,000
