• Cathie Wood's ARK Bitcoin ETF saw a significant outflow of $87 million, surpassing GBTC.
• Crypto prices continued to drop after Monday's losses, driven by positive manufacturing data lowering rate cut expectations for June.

Key Events to Monitor

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Cryptocurrency Market Sentiment

The "Fear and Greed Index" decreased by 8 points in the last day, now at 71 out of 100, signaling increased selling activity. Despite this, the overall market sentiment remains positive, staying above 70.

Latest Market Overview:

• Bitcoin rebounded to $66,000, Ethereum to over $3,300.
• Other altcoins like Core (CORE), Aptos (APTOS), Sui (SUI), and Uniswap (UNI) suffered losses.
• Ethena token had the highest gain, rising by 18.23% in the past 24 hours.
• Core (CORE) token faced the most significant loss, dropping by 12.27% during the same period.
• Total crypto market volume in the last 24 hours grew by 5.40% to $125.29 billion.
• DeFi's total volume is at $12.07 billion, making up 9.63% of the total crypto market 24-hour volume.
• Stablecoin volume reached $117.26 billion, constituting 93.59% of the total crypto market 24-hour volume.
• Bitcoin dominance slightly increased to 52.15% over the day.

Notable Global News Update:

• The market aimed to recover after a two-day decline, focusing on Federal Reserve Chairman Jerome Powell's upcoming address to Congress. Powell is expected to echo Fed members' cautious approach to rate cuts. Important events for Wednesday include the US ADP Employment Change, ISM Services PMI, and Powell's speech.
• ARK 21Shares Bitcoin ETF saw its largest daily outflow of over $87 million, exceeding GBTC. Despite this, it remains the third-largest spot ETF with $2.2 billion AUM. Goldman Sachs' CIO expressed skepticism about cryptocurrencies as an investment.
• Ethereum faced criticism from regulators and developers, proposing community engagement strategies. The crypto market looks forward to the upcoming Bitcoin halving and debates its potential impact on prices and market dynamics.
• The US government transferred a significant amount of BTC to a Coinbase-linked wallet during a price drop, leading to speculation in the community.
• Forbes highlighted the role of AI and blockchain in fueling Web3's growth, enhancing user experiences while addressing privacy concerns.

Views on price consolidations, potential drops, and rebounds for Bitcoin and altcoins are discussed on Coin Gabbar, with a focus on market trends and volatility. Remember, investing in cryptocurrencies and decentralized assets carries inherent risks; it is advisable to conduct thorough research and seek professional advice.