Crypto News: Bitcoin Holds Strong, Gamestop Steals Spotlight

Crypto cap at $2.55T, down 0.50%, indicating slight decline

• Bitcoin surged due to easing U.S. inflation and growing interest in spot Bitcoin ETFs revealed through regulatory filings.

• SEC approval of 19b-4 filings doesn't guarantee immediate approval of S-1 registration statements for spot Ethereum ETFs, possibly leading to ETH price volatility.

Major Events To Watch

Crypto Fear and Greed Index:

The Fear and Greed Index has dipped by 2 points to reach 70 out of 100, signaling continued strong buying activity within the cryptocurrency market.

Cryptocurrency prices have surged over the last 24 hours

TOP 5 Gainers Coins

Latest Market Update: 

• #Bitcoin ($BTC) is trading above $67,000 on Sunday after finding support at $65,000.

• Several coins, including #Ethereum ($ETH), #Chainlink ($LINK), #Dogwifhat ($WIF), #Solana ($SOL), and #Thorchain ($RUNE), has shown an increase in value.

• #Chainlink ($LINK) has particularly stood out with a substantial 24-hour increase of almost 4.14 percent.

• Conversely, #Pyth Network ($PYTH) has witnessed the most significant decline, dropping nearly 11.64 percent over the same period.

• Over the past 24 hours, the total volume of the crypto market has reached $54.65 billion, marking a notable increase of 12.73%.

• The volume of decentralized finance (DeFi) stands at $5.32 billion, comprising 9.74% of the total volume.

• The dominance of stablecoins is significant, accounting for $49.74 billion, or 91.02%, of the total volume in the crypto market for the same period.

• Bitcoin's dominance has also seen a slight rise, currently standing at 54.44%, reflecting a 0.13% increase throughout the day. 

Major Worldwide News Update:

• Nate Geraci of the ETF store discusses the pending SEC decision on spot Ethereum ETFs. Approval hinges on 19b-4 filings for exchange rule changes and S-1 registration statements. While a positive decision could boost Ethereum adoption, a delay may signal ongoing regulatory concerns. Ethereum's price has partially rebounded to $3,100.

• The Pump Fun memecoin marketplace's exploiter, Jarett Dunn, reportedly received bail after his arrest in London. Dunn accuses Pump Fun of various crimes, including operating as an unregistered securities exchange and child abuse intentions. His claims, though unsubstantiated, shed light on hacking dynamics in the crypto industry.

• Silver's market cap surpasses Bitcoin's, reaching $1.83 trillion compared to Bitcoin's $1.31 trillion. Silver reclaimed its 8th position after losing it in March. Bitcoin needs a 40% rally to $93,000 to match Silver's cap. Predictions vary on Bitcoin's future, with some expecting a consolidation phase and others foreseeing a $150,000 price.

• Kraken denies plans to delist Tether (USDT) in Europe despite regulatory scrutiny. Mark Greenberg, Kraken's global head, reaffirms commitment to legal compliance. Bloomberg reported Kraken's review of compliance with EU's crypto regulation. Competitors OKX and Binance made similar moves, but Kraken expands services, securing registrations in Spain, Netherlands, and Ireland.

• Chris Giancarlo, former CFTC Chairman, lauds Donald Trump's impact on crypto, dubbing him "America's first crypto president" for approving bitcoin futures. Trump's stance on crypto shifted positively post-office, embracing BTC's popularity. He even launched NFT collections and accepts crypto for campaign contributions, presenting a contrasting narrative.

• A Russian court sentences Finiko executive Liliya Nurieva to three years in prison for her role in a $1.1 billion crypto scam. She's found guilty of fraud and organized crime-related charges. Nurieva plans to appeal. Finiko promised up to 30% profits and collapsed in 2021, leaving investors unpaid.

COIN GABBAR Views: Will Bitcoin break resistance this week and reach over $100K? With BTC surpassing $67K, is a new all-time high imminent? Can we expect a massive surge as Bitcoin maintains its position above $67K? To get latest news Stay tuned us at coingabbar

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

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