Drizzle will linger over Bitcoin and Ether in the next 24 hours, signaling slightly bearish market conditions. Meanwhile, tropical trading conditions will prevail over Binance Coin and Avalanche, indicating clearly bullish market conditions and attractive buy opportunities.

The other altcoins covered by ATTMO, including Solana, Uniswap, Cardano and Ripple’s XRP will profit from a timid sun in the next 24 hours, signaling slightly bullish market conditions.

Over a one-week time horizon, Ether will also profit from a timid sun, while Bitcoin will continue to face drizzle.

The trading signals available at 06:15 CET are the basis for the projections mentioned above. Please check whether ATTMO's signals have changed since then, before making an investment decision.

Cryptocurrencies rebound in line with stocks, following Wednesday’s selloff

Cryptocurrencies rebounded over the past 24 hours following the selloff on global markets on Wednesday that was triggered by the fear of an AI-related tech bubble.

The price of Bitcoin rallied 4.5 percent to $67,046 over the past 24 hours, Trading View’s Bitcoin chart shows.

Bitcoin Conference 2024 begins in Nashville, Trump to speak tomorrow

The world’s largest conference dedicated to Bitcoin kicked off in Nashville, Tennessee yesterday. This first day focused on industry, aiming at business-to-business (B2B) and networking opportunities for investors.

The conference will run until Saturday, when ex-President Donald Trump will hold the conference’s keynote speech. Later today, the Executive Chairman of MicroStrategy, Michael Saylor, and the CEO of ARK Invest, Cathie Wood, will speak. The live stream of the conference can be viewed here. 

Jersey City’s pension fund to invest in Bitcoin ETFs

The pension fund of Jersey City, New Jersey, will follow in the footsteps of the Wisconsin Pension Fund by investing part of its assets in Bitcoin ETFs.

“The #JerseyCity pension fund is in process of updating paperwork to the SEC to allocate % of the fund to Bitcoin ETFs similar to the Wisconsin Pension Fund has done (2%). It will be completed by end of the summer and I’m sure eventually it will be more common,” the city’s mayor Steven Fulop said.

Newly launched spot ETH ETFs record outflows for second consecutive day

Following initial inflows on their first day of trading on Tuesday, the nine spot Ether exchange-traded funds (ETFs) have experienced outflows totaling $179 million over the subsequent two days.

The outflows are driven by more than $1.1 billion exiting Grayscale's incumbent Ethereum Trust, $ETHE, which was converted into an ETF on Tuesday. Its fee is over 10 times higher than that of the asset manager’s mini Ether ETF, $ETH, which has seen inflows of $119 million over the past three days. 

BlackRock’s ETF, $ETHA, leads the inflow ranking with $355 million in inflows over the past three days.

The price of Ether added 2 percent to $3,240 over the past 24 hours.

Half of US voters prefer crypto-savvy candidates

Just over half of those polled by Harris Poll in the US state they are more likely to be voting for a candidate who is informed about crypto, the poll carried between April 30 and May 2 on behalf of Grayscale shows.

“With voters increasingly interested in crypto, the next administration's approach to this emerging digital asset will be important. This is particularly key for the youth vote, as 62% of Gen Z and Millennial voters believe crypto and blockchain technology are the future of finance,” Grayscale said.

“Although Trump is embracing crypto more on the campaign trail, [poll] data shows that crypto is a bipartisan issue, with similar ownership rates among Republicans (18%) and Democrats (19%). Voters are split on which party is more favorable to the industry, as an equal percentage of voters (30% each) think that both parties have the most favorable position on crypto policies.”

The CEO of Ripple Labs, Brad Garlinghouse, notes that the Democrat’s presidential candidate Kamala Harris “is no stranger to Silicon Valley & has an incredible opportunity to provide a reset on critical issues for US competitiveness (like crypto regulation).

Russian government poised to legalize crypto use for international trade & Bitcoin mining

The Russian Duma has passed a bill that legalizes the use of cryptocurrencies for international trade (but not for domestic payments) and Bitcoin mining. The bill is expected to enter into force as of Sept 1, CryptoSlate reports.

The move is a response to circumvent the severe constraints faced by the Russian banking system following the imposition of international sanctions after the country's invasion of Ukraine in 2022.

Swiss email provider launches a Bitcoin wallet

The Swiss email provider Proton has launched a self-custodial Bitcoin wallet. Proton Wallet as it is called is “an open-source, E2E-encrypted, and self-custodial #Bitcoin wallet.”

DISCLAIMER

ATTMO, a weather-inspired AI tool, makes cryptocurrency predictions. It also forecasts longer-term cryptocurrency trends. These forecasts are not trading advice; they are only decision support tools. They do not include information that is specific to the user; in particular they do not account for their personal risk appetite or market assessment. The forward-looking weather-inspired predictions part of this report may have changed by the time you read this edition of ATTMO Times. So always check the latest ATTMO predictions before making any investment decision.