🚨 Binance activity signals poential market top

Rapid rise in Binance open interest and funding rates suggests retail investors are increasingly going long.

Historically, such trends at Binance have pointed to potential local tops, according to CryptoQuant.com

JUST IN: Uniswap Labs 🦄 partners with Robinhood to enable crypto purchases via debit card, bank transfer, or directly from #Robinhood balances in the #Uniswap mobile app. 🤝

📊 U.S. Bitcoin ETFs, pivotal in January for pushing BTC to record highs, see a decline in new capital.

Meanwhile, Hong Kong's recent launch of six BTC and ETH ETFs garnered a modest $12.7M on day one, starkly lower than the U.S. debut at $4.6B, according to IntoTheBlock

$60k $BTC today vs $60k $BTC 3 days ago

🔥Caution: Too HOT🔥

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$BTC and $ETH options worth $2.4 billion are expiring today, which could increase market volatility.

The put-to-call ratio for #BITCOIN is at 0.50, suggesting a balanced market sentiment.

BTC 'max pain' price is set at $61,000, where the most traders would incur losses.

🚨 #FriendTech 's native token experienced a significant price drop to $0.25 just after its market debut, despite initial strong interest.

🚨 Dutch authorities have arrested a suspect linked to the #ZKasino online scam, seizing over $12 million in assets.

The 26-year-old faces charges of fraud, embezzlement, and money laundering.

The platform reportedly deceived investors, leading to significant losses.

🚨 #Bitcoin struggles to breach the $60K resistance despite recent recoveries.

Technical indicators suggest significant hurdles remain, with key resistance near the 100-day moving average and short-term holder realized price.

🇭🇰 On May 2, Hong Kong's six cryptocurrency spot ETFs saw a total trading volume of HK$68.4 million (~$8.75M), with three Ethereum ETFs contributing just $0.6M.

Meanwhile, 11 U.S. Bitcoin ETFs recorded a trading volume of ~$78M on May 1.

“Bitcoin is worthless it has no intrinsic value”

“Ok then send me one”

📢 LayerZero Labs confirms the first snapshot for its airdrop was taken on May 2.

A future token launch is planned for early 2024

🚨 Bitfarms reports lowest monthly earnings in over two years post- #Bitcoin halving. April 2024 yields were 269 $BTC, down 6% from March and 29% year-over-year.

Ongoing $240M upgrade aims to triple hash rate to 21 EH/s amid reduced rewards.

⚡️ New York resident arrested for orchestrating a $43M Ponzi scheme involving a Las Vegas hospitality business and a #crypto trading operation.

The #FBI alleges the individual promised high returns to defraud investors.

⚡️ Patrick Gruhn, ex-head of FTX Europe, bought a gold pocket watch from Titanic's richest passenger for $1.5M.

Gruhn and others bought back FTX Europe assets for about $33M amid ongoing bankruptcy proceedings.

📉 #Bitcoin 's market dominance has fallen to 53.90%, a decrease of 1.75% over the past week, yet still up 4.63% YTD.

Are traders starting to move from $BTC to more volatile altcoins?

📉 Record outflows hit Bitcoin spot ETFs.

- #Grayscale $GBTC saw $167M leave

- #BlackRock 's $IBIT reported its first net outflow of $36.93M.

- #Fidelity 's $FBTC experienced the largest drop with $191M exiting in a single day.

Total net outflow reached $564M.

📉 #Bitcoin 's price has dropped to $57,151, hitting a new multi-week low, with analysts setting a new target at $50K as demand declines and short positions increase.

🚨 JUST IN: #Tether announces a record Q1 2024 profit of $4.52 billion.