Koinbulteni

Ethereum's price may find a new support level at $1,900 as significant accumulation is observed at this level. Large investors are strategically accumulating ETH for the long term, hinting at a strong support level and potential resistance levels.

Bitcoin experienced a significant correction into oversold territory, leading to a drop in altcoins. Analysts suggest a potential recovery despite market uncertainties and emphasize monitoring key factors for investor decisions.

Qiao Wang, a co-founder of Alliance DAO, compared the current oversold state of Ethereum to crisis levels in 2021 Terra collapse, 2018 bear market, and 2016 DAO hack.

Increased activity on the largest stablecoin network suggests investors are preparing to buy, potentially signaling an upcoming price surge in the crypto market, especially for Bitcoin and altcoins. Such movements have historically preceded market upswings, with notable implications for price trends.

The trading volume in the cryptocurrency markets has been decreasing since the peak at the end of February, leading investors to behave cautiously or even pessimistically. This decline in volume indicates a prevailing atmosphere of uncertainty in the markets, with both individual and institutional investors adopting a more guarded approach.

Despite positive expectations in Ripple's case with the SEC, XRP continues to have a heavy short position weight, while Dogecoin approaches a critical technical level known as the "death cross." Bitcoin remains investors' top choice, with its market dominance reaching a 4-year high of over 62%.

Robinhood, an American-based giant trading platform, announced listing meme coins Pudgy Penguins (PENGU), Popcat (POPCAT), and Peanut the Squirrel (PNUT), joining the meme coin frenzy to expand its popularity in the crypto market. The listing decision led to rapid price increases for Popcat and Pudgy Penguins. Robinhood's interest in meme coins, targeting young investors with high engagement projects, aims to attract a new generation of investors and boost trading volumes, potentially sparking a new trend in the meme coin market.

The "Fat Protocol Thesis" leading to overvaluation of infrastructure projects in crypto assets is ending. Arthur from DeFiance Capital highlights the shift towards realistic valuation of active applications in the crypto market. Overvaluation of infrastructure projects indicates a speculative bubble burst, urging a focus on application-oriented projects for a healthier investment environment.

Bankrbot developers updated their system to stop unintentional token generation via Elon Musk's AI model Grok's commands, which led to the creation of 17 new tokens. The incident began with a user requesting a meme coin name from Grok, resulting in the release of the "DebtReliefBot (DRB)" token. Grok's wallet gained significant profits, but concerns over responsible management led to cutting off interactions with Grok, halting meme coin production.

Ripple becomes the first blockchain-based payment provider to be licensed by the Dubai Financial Services Authority (DFSA), marking a significant milestone in the crypto industry's growth. The company highlights the accelerated expansion in the sector due to increased regulatory clarity and institutional interest in cryptocurrencies. Ripple's licensing and increased focus on the Middle East, particularly in the United Arab Emirates, signal a promising future for its services and stablecoin RLUSD in the region. The recent developments also coincide with a 3% rise in XRP price and advancements in the legal case between Ripple and the SEC.

President Trump's Strategic Bitcoin Reserve is seen as a significant milestone amid market pressures. The created reserve, aiming to legitimize Bitcoin as a global asset, includes around 103,500 BTC initially. The move, potentially impacting long-term Bitcoin investments positively, awaits further details by May 5. Senator Lummis has reintroduced a bill related to the establishment of the US Bitcoin reserve, suggesting the initiative may foster a favorable environment for Bitcoin investments.

Increased volatility in the US Treasury market may hinder Bitcoin's expected price recovery. Despite analysts suggesting a potential rise above $90,000 for BTC due to lower inflation, uncertainties in the market could disrupt this. High volatility in Treasury bonds affects risk appetite, impacting crypto and overall markets.

Approval of cryptocurrency ETFs in the US may be delayed until the new chairman of the Securities and Exchange Commission (SEC) takes office. The current situation suggests potential delays in processing spot cryptocurrency ETF applications, pending the appointment of Paul Atkins. The uncertainty surrounding the fate of these applications has raised concerns among investors. The approval of altcoin ETF applications faces similar challenges, with experts predicting a likelihood of over 65% for some approvals by the end of the year. The final outcomes will depend on the new chairman's actions and historical SEC practices.