Ethereum's crypto market dominance has reached its most overheated levels since May 2021, which may lead to a sharp pullback in ETH prices. Key takeaways: Ethereum’s market dominance has hit overbought RSI levels not seen since May 2021, historically followed by major pullbacks. ETH/USD is showing a bearish divergence on the four-hour chart, hinting at a potential 10–15% price correction. Read more
While the three leading presidential candidates have indicated a pro-Bitcoin ETF stance, previous political promises have yet to materialize in South Korea. South Korea could soon follow Hong Kong in legalizing spot Bitcoin exchange-traded funds (ETFs), as the country’s top presidential candidates have expressed pro-crypto positions. Still, some industry observers remain cautious about the likelihood of near-term regulatory change. “All three major South Korean presidential candidates support #Bitcoin ETFs and institutional investment,” Ki Young Ju, the founder and CEO of onchain data platform CryptoQuant, wrote in a May 14 X post. Read more
OORT's AI image data set reached Kaggle’s front page in multiple categories, highlighting increasing demand for high-quality, community-sourced training data. An artificial intelligence training image data set developed by decentralized AI solution provider OORT has seen considerable success on Google’s platform Kaggle. OORT’s Diverse Tools Kaggle data set listing was released in early April; since then, it has climbed to the first page in multiple categories. Kaggle is a Google-owned online platform for data science and machine learning competitions, learning and collaboration. Ramkumar Subramaniam, core contributor at crypto AI project OpenLedger, told Cointelegraph that “a front-page Kaggle ranking is a strong social signal, indicating that the data set is engaging the right communities of data scientists, machine learning engineers and practitioners.“ Read more
“Bitcoin still needs to mature before decoupling from stock markets,” but presents significant benefits as a portfolio diversifier, according to the co-founder of Redstone Oracles. Bitcoin’s fluctuating correlation with US equities is raising questions about its role as a global safe-haven asset during periods of financial stress. Bitcoin (BTC) exhibited a strong negative correlation with the US stock market when analyzing the short-term, seven-day trailing correlation, according to new research from blockchain data provider RedStone Oracles, shared exclusively with Cointelegraph. However, RedStone said that the 30-day indicator signals a “variable correlation” between Bitcoin price and the S&P 500 index, with the correlation coefficient ranging from -0.2 to 0.4. Read more
Scam crypto investment platforms are everywhere, and spotting them isn’t as complicated as you may think. Fake crypto investment platforms give themselves away in a few obvious ways. Many use fake reviews, incorrect contact information and unrealistic promises to lure you in. The best approach is a healthy dose of skepticism. Watching for these red flags will keep you safe while investing. Read more