Welcome, Crypto enthusiasts!

One historic indicator is showing a strong “buy” signal on bitcoin as a “healthy” bullish reset is taking place.

In Today’s Blockstreet Journal:

• Bitcoin Resets To Bullish

• ETH ETFs Attract Billions

• Market Rundown

• Top Gainers & Losers

• Airdrops More News

Latest News

BITCOIN
🐂 Bitcoin Resets To Bullish  

Word On The Street: Bitcoin (BTC) has delivered a “healthy reset” to bullish sentiment, as a key BTC price indicator hits eight-month lows.

The details:

• Bitcoin is still in a strikingly bearish mood has accompanied its recent 17% dip but the Mayer Multiple may change this sentiment.

• This indicator measures Bitcoin’s current price against its 200-day moving average, and the resulting ratio is used as a buy or sell signal.

• Bitcoin’s relative strength index (RSI) has also dipped into “oversold” territory across multiple timeframes.

Why it matters: Bitcoins technicals are echoing levels in August 2023 — a time when other bull market support trendlines, such as the short-term holder cost basis, were being violated similarly to now.

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ETHEREUM
💰️ ETH ETF Attracts Billions 

Word On The Street: The crypto community eagerly anticipates the launch of spot Ethereum exchange-traded funds (ETFs) in the United States.

The details:

• “Ethereum ETPs will attract $15 billion in net flows in their first 18 months on the market,” - Bitwise CIO Matt Hougan

• The analyst expects investors to allocate funds to Bitcoin and Ethereum ETFs roughly in proportion to their market capitalizations.

• “I think ETH ETPs are going to be a big success. At least, that’s what the data tells me.” - Matt Hougan

Why it matters: Prospective spot Ethereum ETF issuers continue to finalize their registrations ahead of their launch following approval by the U.S. Securities and Exchange Commission (SEC) on May 23.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.27T, a 0.18% increase over the last day.

The total crypto market volume over the last 24 hours is $58.81B, which makes a 5.09% decrease. The total volume in DeFi is currently $4.44B, 7.55% of the total crypto market 24-hour volume. The volume of all stable coins is now $54.24B, which is 92.23% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 53.17%, a decrease of 0.28% over the day.

Global Market Metrics

As of today, the current state of the cryptocurrency market is as follows:

- Total Market Capitalization: $2.27T

- Total 24h Trading Volume: $58.81B

- Active Cryptocurrencies: 10,126

- Active Market Pairs: 84,034

- Active Exchanges: 785

Dominance:

- Bitcoin (BTC): 53.17%

- Ethereum (ETH): 18.14%

Market Segments:

- DeFi Market Capitalization: $74.64B

- DeFi 24h Volume: $4.44B

- Stablecoin Market Capitalization: $155.30B

- Stablecoin 24h Volume: $54.24B

- Derivatives 24h Volume: $605.71B

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ NURI Exchange Airdrop

NURI has introduced Petals as a receipt of contributions towards the growth of the project and the overarching Scroll ecosystem. They’re distributing PTL to liquidity providers in the same fashion that traditional token emissions are, but are non-transferrable. At the end of the pre-mining period, the PTL supply will be snapshotted to determine the conversion of PTL to NURI tokens.

Step-by-Step Guide:

1. Visit NURI exchange, connect your wallet and switch network to Scroll.

2. Select from ones of the pools to provide liquidity to.

3. It’s recommended to supply liquidity to the USDC/USDT pool to avoid exposure to volatility.

4. Alternatively, if you’re bullish on ETH, it’s recommended to supply liquidity to the ETH/wstETH pool.

5. Click on “Deposit” for the desired pool.

6. Select from one of the range types: full, wide, narrow or degen.

7. The wider the ranges, the less risk you take but also results in smaller rewards. Narrow and degen require much more active management, but will yield higher rewards.

8. It’s recommended to use the wide range type so you don’t have to monitor your position that often.

9. Enter the amounts of the two assets that will be supplied to the pool.

10. Sign the approval transaction to allow the dapp to use your assets and then confirm your deposits with your wallet.

11. Since PTL is a liquidity-based airdrop, it’s important to supply a large amount (more than $5,000) to secure a larger allocation.

12. The lifecycle of your liquidity position is also important. Liquidity providers that have supplied assets for a longer duration will earn more PTL.

13. Scroll marks can also be earned for providing liquidity to the NURI Exchange.

14. Follow NURI on X for further updates.

Other News

Bitstamp drops Tether’s euro stablecoin amid new MiCA rules. Bitstamp was one of the first crypto exchanges to list Tether’s euro-pegged stablecoin, EURT, in November 2021.

Investcorp & Securitize Launch Fund Partnership. The partnership aims to create on-chain Real World Assets based on Investcorp's funds.

Bitcoiner contributes to Julian Assange’s freedom, pays $500K in BTC. A Bitcoiner has helped Julian Assange return home debt-free after 14 years of fighting against U.S. extradition.

U.S. Sends $240M Worth of Silk Road BTC to Coinbase. 4k bitcoin had been seized from narcotics trafficker Banmeet Singh at his January 2024 trial.

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