Global #Bitcoin

The Abu Dhabi Agriculture and Food Safety Authority, the leading authority on agriculture in Abu Dhabi, United Arab Emirates (UAE), issued a directive to farmers, prohibiting the practice of cryptocurrency mining on farms.

Around $2.7 billion worth of Bitcoin and Ether options are scheduled to expire on May 24, offering valuable insights into market sentiment within the crypto sphere.

Shytoshi Kusama, the leader of the Shiba Inu (SHIB) project, expressed a sense of encouragement for the SHIB community after the SEC's significant approval of the first spot Ethereum ETFs. In a tweet dated May 24, Kusama hinted at the possibility of a Shiba Inu spot ETF while reaffirming his dedication to the continuous advancements within the SHIB ecosystem.

Bitcoin is currently encountering resistance at its upper range, indicating potential short-term volatility. An analysis by Rekt Capital suggests that Bitcoin historically hasn't broken out of a re-accumulation range so soon after a halving event. With Bitcoin struggling against this high resistance, the cryptocurrency market appears uncertain.

Once again, meme coins are dominating the narrative as the crypto market enters the second phase of the bull cycle, overshadowing even Bitcoin's return to the $71,000 range.

In the midst of significant developments spanning various markets and industries, tangible assets such as gold, silver, and cryptocurrencies appear poised on the brink of a substantial bullish cycle, as indicated by a leading crypto trading expert who deems them essential components of investment portfolios.

A crypto analyst suggests that Bitcoin's return to $73,000 could signify the start of its acceleration to what he terms "escape velocity," drawing a parallel from astrophysics where it denotes the minimum speed required for an object to break free from a celestial body's gravitational pull without additional propulsion

Metaplanet, a Japanese investment firm taking cues from MicroStrategy's Bitcoin playbook, has witnessed an extraordinary surge in its stock price, soaring by 158% in the past week, making it the top gainer among all Japanese stocks.

Despite the prolonged duration of this process, even the most vocal critics of the cryptocurrency market have begun to participate, especially during the 'crypto winter'. However, 2024 has emerged as the year of institutional adoption of cryptocurrencies.

Bitcoin's recent surge of 14% over the past week to $69,887 has led traders to believe it could signify a significant market pump, with expectations of another correction not emerging until it reaches $90,000.

Fourteen years ago today, Laszlo Hanyecz made history by purchasing a pizza for 10,000 Bitcoin, marking the inaugural commercial transaction with the cryptocurrency. The Florida programmer, then 28 years old, placed the order on a Bitcoin Talk Forum on May 22, 2010.

For the first time in 10 months, the global count of active Bitcoin ATMs has declined since July 2023. The United States and Canada jointly represent 91.4% of the total Bitcoin ATM network, with 31,089 (82.6%) machines in the U.S. and 2,909 (7.7%) in Canada.