Bitcoin surged to $64,500 on May 4 during after-hours trading, marking fresh gains in its price trajectory.
According to data from Cointelegraph Markets Pro and TradingView, Bitstamp recorded a new local high of $64,522, setting a new peak for May.
The momentum, fueled by positive United States employment data, continued to build until the daily close.
This was further supported by promising signs of recovery in the crypto market, notably with the Grayscale Bitcoin Trust (GBTC) witnessing its first inflows in nearly three months.
As of the time of reporting, BTC/USD had seen a 5% increase month-to-date, as per CoinGlass data, contrasting with the 15% losses experienced in April.
In response to the market movement, popular trader Daan Crypto Trades expressed cautious optimism, stating,
“Had a great push into the market close yesterday.”
However, he emphasized patience, refraining from adding positions during the weekend until further clarity emerged.
Analysts noted a noticeable deviation between the latest CME Group Bitcoin futures closing price and BTC/USD, suggesting a potential future correction to fill the gap.
Despite the weekend’s impressive performance, concerns lingered regarding the market’s resilience without traditional financial participants.
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Keith Alan, co-founder of trading resource Material Indicators, highlighted the risk of a correction due to thin order book liquidity.
Meanwhile, trader and commentator Credible Crypto suggested that shorting BTC might be favorable below the “main resistance” level around $69,000.
He outlined two potential scenarios for BTC price action, indicating that current levels lacked sufficient liquidity.
Credible Crypto also noted that long positions in BTC would be attractive if BTC/USD dipped below $56,000, suggesting a strategic entry point for investors.
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Bitcoin is currently struggling to surpass the $60,000 mark, facing significant resistance that is hindering its price rebound, despite recovering up to 6.2% from the week’s lows.
Analysis from Cointelegraph Markets Pro and TradingView highlights that BTC/USD has yet to breach crucial trendlines.
The cryptocurrency has seen a 23% decline from its peak, with recovery prospects appearing slim through April and May.
Former BitMEX CEO Arthur Hayes has predicted that Bitcoin will continue to trade within a range below $70,000 until August, emphasizing the importance of first reclaiming the $60,000 level.
However, this mark remains well-defended by existing trendlines.
Particularly challenging for Bitcoin is its 100-day moving average (MA), which, as of May 3, stands at $59,930.
Historically, this trendline has supported the market since October 2023 and helped sustain prices during the early 2023 bull market phase.
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Yet, recent patterns show Bitcoin closing full daily candles beneath this average, indicating a downward shift.
Material Indicators, a trading resource, observed that this average is presenting strong technical resistance.
They noted, “Reclaiming the 100-Day Moving Average would be a big deal for Bitcoin Bulls that could lead to a short squeeze,” as stated by co-founder Keith Alan on the social platform X.
Another significant obstacle is the short-term holder realized price (STH-RP), which reflects the average cost basis for Bitcoin holders who have held their positions for 155 days or less.
This metric has repeatedly acted as a robust support during recent weeks and throughout much of the bull market since early 2023.
As of May 1, STH-RP was recorded at $59,684, closely aligning with the critical $60,000 resistance zone.
Caleb Franzen, CEO of Cubic Analysts, also pointed out the significance of this resistance level in his commentary on X.
He mentioned that for a ‘risk-on’ scenario, a daily closure above $61,000 is crucial.
“Lots of work to do,” he concluded, underscoring the challenges that lie ahead for Bitcoin to regain its upward momentum.
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Flying Pepe (FLYPEPE) could turn early investors into multi-millionaires if it becomes a mainstream coin, like Bonk (BONK) and Dogecoin (DOGE).
Flying Pepe (FLYPEPE), a new Solana memecoin that was launched this week, is poised to explode over 7,000% in price in the coming days.
This is because FLYPEPE has announced its first centralized exchange listing, which will be on MEXC.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Flying Pepe can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in BONK and DOGE made astronomical returns, and Flying Pepe could become the next viral memecoin.
To buy Flying Pepe on Raydium or Jupiter ahead of the MEXC listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Flying Pepe by entering its contract address – 65orYrJbQxa5BZUWyeCsDtJC7JZg8zQYcvRZpvnnd5eq – in the receiving field.
In fact, early investors could make returns similar to those who invested in Bonk (BONK) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Bonk (BONK), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many BONK, DOGE, and WIF investors are instead investing in new Solana memecoins, like FLYPEPE.
Solana Doggy (SOLDOGGY) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Solana Doggy (SOLDOGGY), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Solana Doggy presents a similar opportunity.
Solana Doggy has a market cap around $13,000 at the moment, meaning that when it just reaches a modest market cap of $200,000-$500,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 6,000% in the coming two days, and Solana Doggy could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Solana Doggy can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Solana Doggy on these platforms, users need to connect their Solflare, MetaMask, or Phantom wallet, and swap Solana for Solana Doggy by entering its contract address – 3f3XRScU3PnaXvsZ4ZGjxDa15SmbhWeMLxHmSyNngaAE – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE), and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE, and WIF investors are instead investing in new Solana memecoins, like SOLDOGGY.
The trial of Tigran Gambaryan, a Binance executive detained in Nigeria, has been postponed again, this time until May 17, according to a recent announcement.
Gambaryan has been held since February over allegations involving money laundering.
A Reuters report from May 2 stated that Binance’s legal team did not receive necessary documents to proceed with the trial, initially slated to begin on the same day.
The delay was confirmed by the presiding judge who adjourned the case to allow sufficient time for document review.
This case, which accuses Gambaryan and Binance’s regional manager Nadeem Anjarwalla of money laundering, is distinct from another set of tax evasion charges filed against them and Binance by Nigeria’s Economic and Financial Crimes Commission.
All parties involved in the money laundering allegations have entered pleas of not guilty.
Alongside the postponed trial, a bail hearing for Gambaryan has been scheduled for the same date, May 17.
The backdrop to these legal troubles involves a contentious visit by Anjarwalla and Gambaryan to Nigeria.
Their trip was aimed at addressing accusations that Binance had manipulated Nigeria’s currency, the naira.
READ MORE: Bitcoin Price Plunges Following Lackluster Debut of Hong Kong ETF
However, following their visit, both were detained on charges of tax evasion and money laundering. Anjarwalla managed to escape custody and has since fled to Kenya, where he also holds citizenship, in addition to the United Kingdom.
On April 30, Interpol confirmed that extradition proceedings to return Anjarwalla were underway.
The timing of the arrests has drawn skepticism and criticism, especially as they coincided with Binance’s announcement to halt all transactions in the Nigerian naira.
This move led to speculation about the motives behind the government’s charges.
Binance has defended Gambaryan, asserting that he does not hold decision-making authority within the company.
Meanwhile, in the United States, a related criminal case has concluded with former Binance CEO Changpeng Zhao receiving a four-month prison sentence.
On April 30, he was found guilty of failing to implement a proper Anti-Money Laundering program.
Zhao is scheduled to serve his sentence in a correctional facility in either Oregon or Washington, with the specific date yet to be confirmed.
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Doctor Pepe (DOCPEPE), a newly launched Solana memecoin, has been attracting significant investment from early Shiba Inu (SHIB) and Dogecoin (DOGE) buyers.
Doctor Pepe (DOCPEPE) has surged around 225% in the first few hours since its launch, delivering huge returns for early investors and attracting investment from early Shiba Inu (SHIB) and Dogecoin (DOGE) buyers.
However, DOCPEPE still has plenty of potential to rise more, and it’s poised to rally another 3,000% in the coming 48 hours.
Furthermore, it has already been announced that the token will soon be listed on MEXC – as its first listing on a centralized exchange – and this will be another massively bullish event for its price.
Despite the rally so far, DOCPEPE still just has a market cap of around $34,000, meaning it has immense potential for more gains in the coming days and weeks.
Currently, Doctor Pepe can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy DOCPEPE on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for DOCPEPE by entering its contract address – 3n8HMVVfMF2uqdpts5TUETAHUrvD1AFg8V1XLahpeTT8 – in the receiving field.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
Chinese authorities have arrested Lan Mou, a suspect involved in a major identity theft case related to the StarkNet (STRK) airdrop.
Lan is accused of using stolen identities to submit over 40 fraudulent Early Community Member Program (ECMP) airdrop forms, illegally acquiring over 40,000 STRK tokens intended for rightful recipients.
The airdrop, which began on February 20, was part of a large-scale initiative by the StarkNet Foundation to distribute 700 million STRK tokens.
The airdrop targeted various groups within the Ethereum community, including solo and liquid stakers, StarkNet developers and users, and contributors outside the Web3 ecosystem.
It drew significant attention, with the first 45 million STRK tokens claimed within just 90 minutes.
Following the airdrop, the stolen STRK tokens were transferred to an OKX wallet and converted into more than $91,000 in Tether.
Lan Mou’s arrest occurred on April 25 in Guangdong Province, where authorities seized a computer and two mobile phones linked to the operation.
The incident sheds light on the prevalent issue of scams and phishing in the cryptocurrency sector.
However, this case of identity theft for claiming airdrops on such a grand scale is particularly noteworthy, signaling a new level of threat in the space.
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Yearn.finance developer Banteg previously highlighted a related issue on the same day the StarkNet airdrop began, noting that the eligibility list seemed to be populated heavily with airdrop squatters.
These are individuals who target airdrops for financial gain, often manipulating eligibility by controlling multiple or fake accounts.
Banteg pointed out that around 701,544 of the 1.3 million eligible wallet addresses were potentially linked to such activity, where squatters used repeated or renamed GitHub accounts to increase their chances of receiving airdrops.
In a related revelation from March 2023, it was discovered that airdrop hunters managed to consolidate $3.3 million worth of tokens from the Arbitrum (ARB) airdrop, channeling funds from 1,496 wallets into just two they controlled.
This pattern underscores the ongoing challenges and exploitative practices within the decentralized finance sector, highlighting the need for continued vigilance and improved security measures to protect legitimate users and their assets.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Crazy Wolf (CRAWOLF) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Crazy Wolf (CRAWOLF), a Solana memecoin that was launched this week, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Crazy Wolf presents a similar opportunity.
The exciting memecoin is poised to rally 7,300% in the coming two days, and Crazy Wolf could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Crazy Wolf can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Crazy Wolf on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Crazy Wolf by entering its contract address – 4cra6VGCDowfFz3HDz5ctXtCSAhQQ5FEscKMLGzB56ML – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like CRAWOLF.
Blockchain oracle provider Chainlink has announced a partnership with FIX connectivity solutions firm Rapid Addition to create a FIX-native adapter aimed at enhancing institutional digital asset trading.
This initiative leverages Chainlink’s Cross-Chain Interoperability Protocol (CCIP), designed to facilitate a variety of applications such as token transfers, gaming, and decentralized finance (DeFi).
Chainlink’s new development focuses on enabling banks and financial institutions to seamlessly communicate and interact with a diverse range of tokenized assets.
The organization identifies this venture as a promising market opportunity, potentially revolutionizing sectors like renewable energy, carbon credits, and real-world assets (RWAs) including real estate, infrastructure, and collectibles.
Vince Turcotte, Chainlink Labs’ business development lead for Asia Pacific, shared insights with Cointelegraph regarding the capabilities of this adapter.
Drawing parallels to Chainlink’s collaboration with the SWIFT banking system, Turcotte highlighted that financial entities can utilize the adapter to embed smart contracts with specific FIX tags and instructions.
He emphasized its utility in the post-trade process, stating, “We expect this will be particularly useful for the post-trade environment, as it will allow a single source of truth for trade allocations, which can be shared simultaneously and without duplication between asset managers, brokers, and custodians.”
Turcotte also noted that the adapter facilitates integration into existing legacy systems, enhancing the efficiency by reducing settlement errors and rejections.
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He explained that the synergy between Chainlink and FIX will allow traditional risk and execution platforms to effectively interact with emergent blockchain-based asset types.
Discussing the broader implications of this technological advancement, Turcotte projected that digitally native institutions are likely to lead in adopting this integration.
“We expect that digitally native institutions will be the early adopters of this integration.
“These institutions recognize the value of using the FIX protocol to engage with the broader TradFi ecosystem and the value of permanence and truth via blockchain,” he elaborated.
Turcotte also mentioned the cost benefits for asset managers and their clients, who could economize by using a unified, continuously updated platform for settlement instructions.
“Asset managers and their clients can save costs by having a single source of truth for settlement instructions available to all counterparties to a trade and constantly updated 24/7,” he added, pointing out the financial and operational efficiencies enabled by the new adapter.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Recent downward trends in the cryptocurrency market have exerted downward pressure on the price of Shiba Inu (SHIB).
Nonetheless, several analysts remain optimistic about the token’s future trajectory, foreseeing it potentially reaching $0.00017 in the coming years.
Oscar Ramos, a well-known advocate for Shiba Inu, projects that the asset could hit $0.00017 by 2025, aligning with the anticipated culmination of the ongoing crypto bull cycle.
This optimistic outlook implies a substantial 640% increase for investors who buy SHIB at its current price of $0.00002296.
On the other hand, platforms like Changelly and Telegaon adopt a more cautious stance, proposing a six-year timeframe for SHIB to attain this valuation, suggesting $0.000059994 as a potentially more realistic peak during the current bull market.
The possibility of SHIB reaching $0.0001 or beyond has been a frequent topic of discussion among analysts, citing its past performance as a basis for optimism.
Analyst Eunice Wong suggests that a similar surge could propel SHIB to $0.000125.
Furthermore, SHIB’s expanding roster of partnerships adds to the positive sentiment surrounding its future prospects.
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Collaborations such as the recent venture with CDSA to utilize Shibarium for combating piracy, alongside another undisclosed partnership hinted at by lead developer Shytoshi Kusama, contribute to the bullish outlook for the asset.
However, the prevailing bearish sentiment in the market has led to a decline in Shiba Inu’s price in recent months.
According to data from CoinMarketCap, SHIB is presently trading at $0.00002466, marking a notable decrease from its peak in early March.
Analysts hold differing views on when SHIB might achieve the $0.00017 price target.
While some anticipate it occurring within the current bull cycle, others believe it could take longer.
Various factors, including market dynamics, successful partnerships, and the overall cryptocurrency market’s resilience, are anticipated to influence Shiba Inu’s trajectory moving forward.
As always, it’s imperative to acknowledge the high volatility inherent in cryptocurrency markets.
Conducting thorough research and understanding one’s risk tolerance are essential prerequisites before making any investment decisions.
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