🌙 BTC hits $70k and ETH hits $3.5k

Analysts believe Bitcoin price is en route to new highs now that the recent consolidation phase has come to an end.

Author

Mike Gavela
May 20, 2024

Crypto Roundup - May 20

Bitcoin recently soared past $70,000, driven by the surge in ETF and spot market buying, while Ether also leapt to $34,000, buoyed by increased prospects of its ETF approval. This rally in both cryptocurrencies reflects robust institutional interest and market optimism, underscored by record trading volumes for Bitcoin ETFs shortly after their launch and significant holdings by Bitcoin whales who anticipate further price gains.

Top Stories:

  • Bitcoin price surpasses $70,000: This milestone comes as spot and BTC ETF buying increases, suggesting a growing institutional interest in cryptocurrency​​.

  • Ether price jumps significantly: Reaching $3.4k, the spike is largely due to improved odds of an ETF approval, highlighting market optimism​.

  • Hacker faces charges: A hacker exploiting a Solana-based meme coin faces conspiracy charges, underscoring ongoing security challenges within the crypto space​​.

TOP STORIES

Bitcoin price hits $70K as spot and BTC ETF buying surges

Bitcoin has turned bullish again as bulls set their price targets near a new all-time high.

cointelegraph.com/news/bitcoin-price-hits-70k-as-spot-and-btc-etf-buying-surges

Ether Jumps 10% to $3.4K After Bloomberg Ups Odds of Spot ETF Approval

Markets previously had mostly priced in SEC rejections of the proposed funds beginning this week.

www.coindesk.com/markets/2024/05/20/ether-jumps-10-to-34k-after-bloomberg-ups-odds-of-spot-etf-approval

Hacker Who Exploited Solana Meme Coin Factory Pump.fun Says He Faces Theft, Conspiracy Charges - Decrypt

After admitting to being responsible for an exploit which drained $2 million from Pump.fun, the attacker claims to have been arrested.

decrypt.co/231428/hacker-who-exploited-solana-meme-coin-factory-pump-fun-says-he-faces-theft-conspiracy-charges

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OTHER HEADLINES

CPI report spurs $932M inflows into crypto investment funds

Digital asset investment funds attracted $932 million following the latest U.S. CPI report, while Ether faced $23 million in outflows amid SEC ETF concerns.

cointelegraph.com/news/cpi-report-spurs-932-million-inflows-crypto-investment-funds

US Senate overturns SEC’s anti-crypto resolution, but will Biden veto? Law Decoded

The American Bankers Association has openly urged “President Biden to move quickly to sign this resolution into law to help protect American consumers.”

cointelegraph.com/news/us-senate-overturns-sec-anti-crypto-resolution-will-biden-veto

Company that fried Red Lobster put shrimp on the blockchain

Thai Union cost Red Lobster around $11M when it made the company’s ‘$20 Ultimate Endless Shrimp’ offer a permanent part of its menu.

protos.com/company-that-killed-red-lobster-put-shrimp-on-the-blockchain

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