Crypto News Today: Bitcoin Keeps Cool as Ethereum Takes Off

Crypto market cap increased by 0.6%, reaching $2.72 trillion

• Michael Saylor, MicroStrategy Chairman, reaffirms that spot Ethereum ETF approval benefits Bitcoin.

• "Rich Dad Poor Dad" Author discredits the notion of bond safety, suggesting Bitcoin purchase instead.

Crypto Fear and Greed Index:

The Fear and Greed Index has dropped by a few points, now standing at 74 out of 100. This indicates extreme greed and ongoing buying activity in the cryptocurrency market.

Cryptocurrency surged significantly over the last 24 hours

TOP 5 Gainers Coins

Latest Market Update: 

• Bitcoin (BTC) stabilized around the $68,500 mark early Monday.

• Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) experienced minor fluctuations, with some witnessing slight decreases and others seeing modest gains.

• JasmyCoin (JASMY) token emerged as the top performer, recording a 24-hour surge of more than 31 percent.

• Conversely, CORE suffered the most significant loss, dropping over 6 percent in the span of 24 hours.

• The total crypto market volume over the last 24 hours is $64.04 billion, a 20.00% increase.

• DeFi volume is currently $5.87 billion, representing 9.17% of the total crypto market 24-hour volume.

• Stablecoin volume stands at $57.9 billion, accounting for 90.41% of the total crypto market 24-hour volume.

• Bitcoin's dominance is currently 52.49%, a decrease of 0.50% over the day.

Major Worldwide News Update:

• Robert Kiyosaki, author of "Rich Dad Poor Dad," criticizes the perceived safety of bonds, advocating for Bitcoin investment. He argues that bonds aren't as secure as believed, particularly amidst market fluctuations. Kiyosaki advises prioritizing real assets like Bitcoin, gold, and silver, predicting Bitcoin's potential rise to $300,000 amid institutional interest and supply constraints.

• Michael Saylor, MicroStrategy Chairman, sees the approval of a spot Ethereum ETF as beneficial for Bitcoin, expecting increased institutional interest. He believes it legitimizes the crypto asset class, potentially leading mainstream investors to allocate 5% to 10% of portfolios to crypto, with a majority toward Bitcoin. Recent market activity supports his projections.

• The recent approval of a U.S. Spot Ethereum ETF by the SEC sparked optimism in the crypto market, boosting Bitcoin and altcoins. Despite some volatility, investors are regaining confidence. Key events this week include Fed officials' speeches and U.S. economic data releases, impacting both crypto and broader financial markets.

• Several prominent industry influencers and celebrities saw their X accounts hacked over the weekend, promoting various cryptocurrencies including Luna2 and ORDI. The hack, affecting figures like Gigantic-Cassocked-Rebirth (GCR), led to temporary price surges. Concerns arose over broader attacks on celebrity accounts, with warnings to remain cautious amidst the rise of meme coins and potential deepfake promotions.

• Computer scientist and venture capitalist Kai-Fu Lee maintains his prediction that AI will replace half of the global workforce by 2027. With an illustrious career spanning Apple, Microsoft, and Google, Lee's outlook remains unwavering, emphasizing AI's transformative potential, positioning it as a cornerstone technology akin to electricity and the internet combined.

• Bitcoin advocate Samson Mow criticizes politicians' growing support for cryptocurrencies, warning of potential future problems if Bitcoin's distinctiveness is overlooked. He emphasizes the importance of distinguishing Bitcoin from other cryptos to avoid financial disasters. Senator Cynthia Lummis stands out for her genuine passion for Bitcoin amidst political shifts towards crypto regulation.

• Republican Presidential candidate Donald Trump reaffirms his commitment to a thriving crypto ecosystem in the United States, promising to safeguard its future during a speech in Washington D.C. Trump pledges support for self-custody rights and opposes Senator Elizabeth Warren's regulatory efforts. He also vows against a central bank digital currency.

COIN GABBAR Views: Will Ethereum's price jump closer to $4,000, hinting at a new all-time high soon? Is there a correlation between Ethereum and Bitcoin prices, suggesting Ether might gain momentum? Will Bitcoin achieve a new high before the end of May? To get latest news Stay tuned us at coingabbar

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