Crypto News Today: BTC, ETH Hold Steady Amid Memecoin Rally

Crypto market rises 1.40%, total Cap hits $2.73 trillion

• The BlackRock Bitcoin ETF (IBIT) is now the largest Bitcoin fund, with nearly $20 billion in AUM.

• US consumer sentiment improved in May, with the Conference Board's Consumer Confidence Index rising to 102.00 from 97.5 in April.

Major Events To Watch

Crypto Fear and Greed Index:

The Fear and Greed Index has seen flat, currently sitting at 72 out of 100.

Crypto experienced a significant surge in the past 24 hours

TOP 5 Gainers Coins

Latest Market Update: 

• Early Tuesday, Bitcoin (BTC), the oldest and most valuable cryptocurrency globally, saw a decline below the $68,000 threshold.- 

• Popular Altcoins and Memecoins like #Floki ($FLOKI), #Dogwifhat ($WIF), #Shiba Inu (SHIB), #Celestia ($TIA), and #BOOK OF MEME ($BOME) all gained over 15%.

• #Notcoin ($NOT) emerged as the top gainer, surging over 25.61% in 24 hours.

• Conversely, #Pendle ($PENDLE) experienced the most significant loss, dropping over 4.53% in the same timeframe.

• The total crypto market volume over the last 24 hours is $90.42B, marking a 1.73% increase.

• DeFi volume is currently $6.15B, representing 6.80% of the total 24-hour crypto market volume.

• Stablecoin volume is now $84.45B, accounting for 93.40% of the total 24-hour crypto market volume.

• Bitcoin's dominance is currently 52.42%, showing a decrease of 0.07% over the day.

Major Worldwide News Update:

• US consumer sentiment rose in May, per Conference Board data. The Consumer Confidence Index increased to 102.00 from 97.5 in April, while the Expectations Index climbed to 74.6 from 68.8. Despite inflation concerns, optimism about the job market drove the unexpected improvement, though recession worries lingered.

• BlackRock's IBIT Bitcoin ETF becomes the largest, surpassing Grayscale's GBTC. IBIT amassed $19.79B AUM in four months, while GBTC declined by ~$18B. BlackRock led with $102M inflows on May 28, overtaking Grayscale. Bitcoin ETFs saw 632 BTC net inflows. Institutional support pushes BTC ETFs to hold 5% of total Bitcoin supply globally.

• Pro-XRP lawyer John Deaton demands SEC Chairman Gary Gensler's resignation amid criticisms of SEC's crypto regulation approach. Deaton cites SEC's aggressive actions against firms like Ripple, LBRY, and Coinbase as damaging. He advocates for regulatory accountability and suggests former CFTC Chairman Chris Giancarlo for SEC chair.

• El Salvador's collaboration with Cathie Wood signifies a strategic move to integrate Bitcoin into its economic fabric, aiming for innovation and global investment. The partnership signals El Salvador's commitment to blockchain and cryptocurrency, potentially transforming it into a hub for financial technology and fostering regional cooperation in regulation.

• Hong Kong's financial regulator stresses registration deadline for virtual asset trading platforms, warning of criminal penalties for non-compliance with Anti-Money Laundering laws. Firms urged to trade only with licensed entities, with restrictions on onboarding new retail clients until guidelines are met. Increased scrutiny reflects global trend towards clearer crypto regulations.

• US District Court Judge Robert J. Shelby ordered the SEC to pay $1.75 million in legal fees and costs in the Debt Box case due to misleading conduct. The ruling criticizes the SEC's misstatements, leading to resignations and questions about its regulatory approach.

• Former FTX executive Ryan Salame sentenced to 90 months in prison for unlawful political donations and operating an unauthorized money transfer business. His actions undermined trust in the financial system and electoral process, involving embezzlement and fraudulent activities during his tenure at FTX and Alameda Research.

COIN GABBAR Views: Is the Bitcoin bull market finished? Could Bitcoin's price, struggling below $69K, see a surge to $180K with a "bullish megaphone"? Will altcoins overshadow Bitcoin with the arrival of Ethereum ETFs in the upcoming altseason? To get latest news Stay tuned us at coingabbar

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Also Read: Could Notcoin Be the Next Hidden Gem in the Crypto world?