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Elon Musk Shares ‘Massive Incentive to Move Money out of Bank Accounts’ Tesla and Twitter CEO Elon Musk has shared a “massive incentive” to move money out of bank accounts, citing a significant interest rate gap created by the U.S. Treasury and the Federal Reserve. “As more people & companies realize this, bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big to fail,’” Musk warned.

Crypto Exchange Bittrex Enters Chapter 11 Bankruptcy Protection Following SEC Lawsuit Bittrex Inc., the U.S.-based cryptocurrency exchange, has filed for Chapter 11 bankruptcy protection in Delaware after being sued by the U.S. Securities and Exchange Commission for failing to register with the regulator. The exchange reportedly has over 100,000 creditors and liabilities ranging from $500 million to $1 billion.

Hello, welcome to this ETHEREUM /USDT update by CRYPTO SANDERS. CHART ANALYSIS:- ethereum (ETH) was also in the red on Monday, with prices plunging below 1,900 Following a high of 1,934.00 on Sunday, ETH/USDT dropped by almost 100, hitting a low of 1,839.89 earlier in the day. Similar to Bitcoin, today’s decline saw the world’s second-largest cryptocurrency fall for its third consecutive day. it appears that ethereum bears are now attempting to take the RSI to its own point of support at 45.00. Currently, the index is at the 47.02 level, having recently moved below a higher support point of 49.00. Should price strength hit the target of 45.00, there is a possibility that ETH will be trading under 1,800. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/ETHUSDT/MjrPNP9p-ETH-USDT-1DAY-UPDATE-BY-CRYPTOSANDERS/

Hello, welcome to this BITCOIN /USDT update by CRYPTO SANDERS. CHART ANALYSIS:- The number of jobs added to the U.S. economy came in higher than expected, in many’s eyes justifying the Federal Reserve’s decision to hike interest rates by 0.25%. As a result, BTC/USDT fell to an intraday low of 27,691.26 earlier in today’s session, following a peak of 29,119.38 the day prior. Overall, BTC has now fallen for a third straight session, with this latest drop sending prices to a one-week low. One of the catalysts for the decline was a breakout that took place on the relative strength index (RSI), which fell below a floor of 47.00. the index is tracking at 44.32, with a floor of 42.00 a potential target for bears. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/BTCUSDT/V5speOPM-BTC-USDT-1DAY-UPDATE-BY-CRYPTOSANDERS/

Hello, welcome to this SOL/USDT 1 DAY chart update by CRYPTOSANDERS. I have tried to bring the best possible outcome to this CHART ANALYSIS: Solana (SOL) remained in the red as the coin extended its recent decline to a third session. After hitting a high of 22.74 on Sunday, SOL/USDT fell to a low of 21.01 earlier in the day. Monday's price drop has sent SOL to its long-term support point of 21.00, resulting in its lowest level since April 26. The coin has rebounded from the previous lows as the RSI has found its own floor at the 44.00 mark. As of writing, price strength is tracking at 44.57, with a range of 49.00 a potential target for the bulls. If momentum picks up, and more bulls re-enter the market, this could lead SOL to climb above 22.00. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you..... https://www.tradingview.com/chart/SOLUSDT/8TIMPHzE-SOL-USDT-1DAY-UPDATE-BY-CRYPTOSANDERS/

Hello, welcome to this XRP/USDT update by CRYPTO SANDERS. CHART ANALYSIS:- XRP, formerly known as Ripple, fell as much as 5% on Monday, while the global market cap fell more than 3% daily. XRP/USDT fell to a low of 0.4333 to start the week in less than 24 hours after touching a high of 0.4606. As a result of this decline, XRP moved to its lowest point since March 25, breaking the 0.4360 floors in the process. Looking at the charts, the slippage came in the form of the Relative Strength Index (RSI), which broke out from a floor of 39.00. At the time of writing, the index is tracking 36.04, with XRP at 0.4365. Hit the like button if you like it and share your charts in the comments section. Thank you https://www.tradingview.com/chart/XRPUSDT/tNQtzDHj-XRP-USDT-1DAY-UPDATE-BY-CRYPTO-SANDERS/

Ripple CEO Says Company Spends $200 Million Fighting SEC Lawsuit Over XRP, Ruling Could Come in 3 Months Ripple CEO Brad Garlinghouse has revealed that his company is spending $200 million defending itself against the SEC in its lawsuit over xrp. The executive expects a decision on the lawsuit in three to six months. “If we win the lawsuit, it’ll be clear what xrp is, but the rest of the industry is still going to be unclear. And the whole crypto industry needs regulatory clarity in the U.S. to really thrive,” said the Ripple boss.

Warren Buffett Sees ‘No Option’ Other Than US Dollar as Reserve Currency, but Warns Fed Can’t ‘Just Print Money Indefinitely’ Warren Buffett, CEO of Berkshire Hathaway and one of the most renowned investors in the market, stated that he saw no viable option to become the world’s reserve currency besides the U.S. dollar. However, he warned about the dangers that printing too much money could bring to the strength of the currency in the future.

Study Reveals Top Countries Fueling Meme Coin Interest in 2023 In 2023, meme coins have maintained their popularity, and the recent surge of PEPE demonstrates that investors remain enthusiastic about meme-centered tokens. A fresh study from Coingecko reveals that a significant portion of meme coin fascination originates from the United States, India, and the U.K., encompassing over half of the top ten countries’ interest driving the meme coin phenomenon.

XRP, SOL Move 5% Lower to Start the Week Xrp plunged to a six-week low on Monday, as cryptocurrency markets moved further into the red. The global crypto market cap fell by over 3% to start the week, which comes days ahead of the upcoming U.S. inflation report. Solana also declined, hitting a multi-week low.

Average Bitcoin Transaction Fees Skyrocket to $19.20 per Transfer as Over 440,000 Transactions Remain Unconfirmed Bitcoin transaction fees have surged significantly in the past 24 hours, with the average fee reaching $19.20 per transfer. The increase in fees can be linked to a backlog of transactions trapped in the mempool, as over 440,000 unconfirmed transactions are currently awaiting confirmation.

BTC Extends Declines, as Markets Continue to React to Nonfarm Payrolls Bitcoin fell below $28,000 to start the week, as markets continued to react to last Friday’s United States nonfarm payrolls (NFP) report. The payrolls report came in at 250,000 versus expectations of 180,000 jobs. Ethereum was also lower, as prices fell back below $1,900.

Syrian Crypto Dealer Freed From Kidnappers Who Demanded Ransom of Over $1.1 Million Spanish law enforcement recently nabbed three individuals who befriended and eventually kidnapped a Syrian cryptocurrency dealer. Following their arrest, the kidnappers, who were demanding a ransom of over $1.1 million, were found in possession of weapons and fake identity documents.

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BITCOIN 4hour update

Bitcoin Network Overwhelmed by 390,000 Unconfirmed Transactions and Surging Fees In just under two weeks, the number of unconfirmed transactions on the Bitcoin network has skyrocketed from 134,000 to over 390,000, causing a bottleneck in the mempool. This surge in unconfirmed transactions has resulted in a staggering 343% increase in transaction fees, which have risen from $1.99 per transaction on April 26 to a current rate of $8.82 per transaction as of May 7. Bitcoin miners are struggling to keep up with the demand, leaving many users frustrated and unable to complete their transactions in a timely manner.

Bitcoin’s BRC20 Token Economy Skyrockets 192% to $279 Million in Just Four Days Four days ago, the market capitalization of all the BRC20 tokens built on top of the Bitcoin network was a modest $95 million. However, over the past four days, the BRC20 market valuation has seen tremendous growth, increasing by 192% and reaching $279 million.

Upgrade to Bring Bitcoin Cash Smart Contracts, Ted Cruz on BTC, Global De-Dollarization Efforts — Week in Review Software developer Jason Dreyzehner says smart contracts “comparable to Ethereum,” but remarkably more efficient will be made possible by the May 15 upgrade coming to the Bitcoin Cash network. In other news, the world’s largest regional organization, the Shanghai Cooperation Organization (SCO) plans to switch to settlements in national currencies, moving away from the U.S. dollar. This and more, just below, in the latest Bitcoin.com News Week in Review.

Swedbank Strategist Says US Banking Crisis Is Spreading — Warns of More Banks Failing in ‘Vicious Spiral’ A strategist at Swedbank, a Swedish bank, has warned that the regional banking crisis in the U.S. is spreading. After several bank failures, he stressed that Pacwest Bank, Western Alliance Bank, and First Horizon Bank have all been “subject to financial meltdowns.”

Digital Assets for 1 Billion Rubles Issued in Russia in a Month Platforms authorized by the Russian government issued digital assets worth around a billion rubles in April, the local press reported. The spike in the volume has been attributed to Russian companies experimenting with new financial instruments amid limited access to traditional capital.