Altcoin News Official Today TheBitTimes.com

Bitcoin briefly tests $49k before rebounding to $51k amid a $270 billion crypto market selloff. Concerns over the US recession and Japan’s rate hike trigger market turmoil. FBI warns of rising crypto scams during increased market volatility. The cryptocurrency market has experienced a significant downturn today, shedding approximately $270 billion in value over 24 hours according to CoinGecko data. Leading this decline, Bitcoin plummeted by almost 20%, reaching $49,121, its lowest level since February at $53,091. Ether also suffered a substantial drop of 21%, falling to $2,300, erasing its gains for the year. Other cryptocurrencies like Binance’s BNB and Solana have also suffered significant losses. Bank of Japa hikes its benchmark interest rate This dramatic downturn in the crypto market coincided with a broader selloff in equities, particularly in Asia-Pacific markets, exacerbated by Japan’s Nikkei 225 falling by as much as 7%. The Bank...

Standard Chartered expects SEC approval of Ethereum ETFs this week. The bank predicted inflows of $15-45 billion that could drive ETH price to $8,000 by the end of 2024. Ether’s price has surged 19% in the past 24 hours, reflecting the optimism in the market. Standard Chartered expects the U.S. Securities and Exchange Commission (SEC) to approve Ethereum (ETH) ETFs this week. If it happens, it could herald a substantial influx of capital into the ether market, with projections estimating inflows between $15 billion and $45 billion in the first 12 months post-approval. The critical ether ETFs proposal deadlines The SEC is approaching critical deadlines for several ether ETF proposals, with VanEck’s submission due on May 23 and Ark Invest/21Shares’ on May 24. Geoff Kendrick, Head of FX Research and Digital Assets Research at Standard Chartered , stated that the approval of spot ether ETFs could drive significant market activity, with antic...

Key takeaways Ether is outperforming Bitcoin and a few other major cryptocurrencies after adding more than 2% to its value. Bitbot’s presale is now in the third stage and the team has raised nearly $450k. Ether outperforms Bitcoin  Ether, the second-largest cryptocurrency by market cap, has been performing well over the last 24 hours. The coin is up by more than 2% during that period. At press time, the price of Ether stands at $2,362 per coin.  Ether is currently outperforming Bitcoin and a host of other leading cryptocurrencies. Bitcoin is now eyeing the $43,500 mark as the market begins to soar higher.  What is Bitbot?  Market conditions have begun to improve and more investors are looking for quality projects to invest in. One of the projects that could become a leader in the market is Bitbot.  Bitbot is a Web3 project that is set to bring unique value propositions to traders in the cryptocurrency space. It is a Te...