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Cryptocurrencies experienced mixed trading on Sunday evening after a two-week run, with the apex cryptocurrency Bitcoin taking a breather hovering near the $52,000 level.CryptocurrencyGains +/-Price (Recorded 9:30 p.m. EST)Bitcoin BTC/USD +0.52%$51,539Ethereum ETH/USD +2.67%$3,107Dogecoin DOGE/USD -0.66%$0.085

What Happened: Analysts are keeping a close eye on the inflows into spot Bitcoin ETFs as they seek to predict the next move for Bitcoin.

Data from BitMEX Research indicates that Grayscale Bitcoin Trust GBTC outflows hit a low of just $44 million on Feb. 23, marking the lowest level since Jan. 11.

In January, GBTC reported total withdrawals of $5.64 billion, with $640 million exiting on Jan. 22 alone. February has witnessed a decline in outflows, totaling $1.8 billion so far. Since its inception, GBTC has observed total withdrawals amounting to $7.4 billion.

On the other hand, BlackRocks IBIT IBIT has garnered over $6.6 billion in investment since its launch, followed by Fidelity's FBTC FBTC with over $4.7 billion in capital.

Ethereum has pierced through the $3,000 threshold after lingering beneath it for several days. This rebound into a higher price bracket has been a key factor in the steady increase in the percentage of Ethereums total supply that is profitable. Data from Santiment indicates profits expanding by roughly 1 million ETH in a mere three-day span.

Top Gainer (24 Hour)CryptocurrencyGains +/-Price (Recorded 9:30 p.m. EDT)Flare FLR/USD +15.91%$0.046Mantle MNT/USD +14.72%$0.90Arweave AR/USD +12.13%$15.94

The global cryptocurrency market cap now stands at $1.94 trillion, showing a 2.19% decrease in the past 24 hours.

U.S. stock futures showed minimal movement on Sunday as investors awaited the latest data on the Federal Reserves preferred inflation reading.

Futures linked to the Dow Jones Industrial Average declined by 0.04%, while S&P 500 futures and Nasdaq 100 futures both recorded slight decreases of 0.04% and 0.05% respectively.

See More: Best Cryptocurrency ScannersLoading… Loading…

Analyst Notes: Cryptocurrency analyst Michael Van de Poppe remains uncertain about the possibility of a correction on Bitcoin in the short term.

"Im unaware whether we will get this correction on Bitcoin in the short term. I think that this rally is going to peak between $54-58K and provide a substantial correction to $40-42K after the halving has taken place."

Glassnode co-founders Jan Happel and Yann Allemann, known as Negentropic on X, assert that the Ethereum versus Bitcoin (ETH/BTC) ratio serves as a crucial indicator for the performance of altcoins. Their analysis indicates that following an extended consolidation period, the ETH/BTC ratio has surged, signaling a potential upswing for altcoins.

"The Ratio which drives Altcoins Bull Market' ETH/BTC ratio is a gauge on the crypto market. Higher ratio the more risk-on in crypto (altcoins). When ETH/BTC rallies, altcoins rally. And we have just broken higher after a long consolidation since late 2021. Altcoins will soar. All points to a blow-off top as suggested by Henrik Zeberg."

"The Ratio which drives Altcoins Bull Market"#ETHBTC ratio is a gauge on the #Crypto Market. Higher ratio the more Risk-On in Crypto (Altcoins)

When ETHBTC rallies #Altcoins rallies.

And we have just broken higher after long consolidation since late 2021.#Altcoins will pic.twitter.com/XpvBkv44fn Loading… Loading…

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Politics

Boris Johnson pays tribute to polling station staff who refused to let him vote without photo ID

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Boris Johnson pays tribute to polling station staff who refused to let him vote without photo ID

Boris Johnson has paid tribute to the villagers who Sky News revealed turned him away from a polling station when he tried to vote without a valid photo ID – under rules he introduced.

The former prime minister said he attempted to cast his ballot using a magazine sleeve with his name and address on as proof but was prevented from doing so.

The requirement to provide photo ID was introduced by Mr Johnson during his time in Downing Street as part of the Elections Act 2022.

The move was controversial over fears it would bar people from voting, particularly among disadvantaged groups.

Local election live: Khan likely to cling on to London – as West Midlands on knife-edge

Mr Johnson had been seeking to vote in South Oxfordshire, where a police and crime commissioner for Thames Valley was being elected.

Writing in his Daily Mail column, he said: “I want to pay a particular tribute to the three villagers who on Thursday rightly turned me away when I appeared in the polling station with nothing to prove my identity except the sleeve of my copy of Prospect magazine, on which my name and address had been printed.

“I showed it to them and they looked very dubious… within minutes I was back with my driving licence and voted Tory.”

Sky’s election coverage plan – how to follow

The weekend: Sophy Ridge will host another special edition of the Politics Hub on Saturday from 7pm until 9pm. And Sunday Morning with Trevor Phillips will take a look back over what’s happened from 8.30am until 10am.

How do I watch?: Freeview 233, Sky 501, Virgin 603, BT 313, YouTube and the Sky News website and app. You can also watch Sky News live here, and on YouTube.

The Electoral Dysfunction podcast with Beth Rigby, Jess Phillips and Ruth Davidsonis out now, and Politics at Jack and Sam’s will navigate the big question of where the results leave us ahead of a general election on Sunday.

You can also follow the latest on our politics page

Read more:
The winners and losers
Charts tell story of Conservative collapse

Analysis: Labour’s future success is less clear-cut

Thursday’s election is the first time many voters in England and Wales have had to present ID to vote under provisions first rolled out at last year’s local elections.

As well as driving licences, other acceptable forms of ID include passports, proof of age cards, blue badges, and some concessionary travel cards.

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The government has also said it intends to make veterans’ ID cards a valid form of voter identification after former service personnel were turned away.

Veterans’ minister Johnny Mercer apologised to those who had been unable to use the document to vote, vowing to “do all I can” to have it added to the list of valid identification.

Labour said the government has had years to ensure the card was included, having begun rolling out the scheme in 2019.

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Environment

Watch this autonomous excavator build a 215 foot retaining wall [video]

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Watch this autonomous excavator build a 215 foot retaining wall [video]

The robotics experts at ETH Zurich have developed an autonomous excavator that uses advanced AI to help it complete high-skill tasks without a human operator.

Dry stone wall construction typically involves huge amounts of operator labor. Doing it right requires not just hours of labor, but hours of skilled, experienced labor. At least, it used to. If the crew at ETH is successful, building stone retaining walls will soon become a “set it and forget it” task for robots to complete. Robots like their HEAP excavator.

HEAP (Hydraulic Excavator for an Autonomous Purpose) is a customized Menzi Muck M545 developed for autonomous operation that uses electrically-driven hydraulics to operate an advanced boom arm equipped with draw wire encoders, LiDAR, Leica iCON site-mapping, and a Rototilt “wrist” on the end that makes it look more like a high-precision robotic arm than a traditional heavy equipment asset.

ETH HEAP tech stack

Image via ETH Zürich.

Which makes sense. After all: the ETH guys are roboticists, not skilled heavy equipment operators. So, how does their robot do against skilled operators?

“We are currently outperformed by human excavator operators in placement speed,” ETH researchers wrote in Science Robotics. “Such operators, however, typically require string and paint references with which to register their construction and often a second or third person outside the machine to provide guidance and to insert small supporting stones, gravel, and soil by hand and shovel. In contrast, our process can build complex nonplanar global surface geometries without physical reference markers, does not require a skilled driver or small supporting stones, and provides a full digital twin of the built structure for better accountability and future reuse.”

Translation: the robot is slower, but it gets the job done.

You can watch the ETH HEAP put all its onboard tech to work building a 215 foot long, 20 foot high retaining wall all on its own in the video, below.

Autonomous excavator constructs dry stone wall

The completed project can be seen at Circularity Park in Oberglatt, Switzerland, and illustrates the potential for autonomous equipment to build with irregularly-shaped materials. And with skilled operators in short supply everywhere, the potential to free up operators so they can go where they’re really needed.

Electrek’s Take

ETH Zürich’s robot excavator has been in development for years, with numerous white papers exploring its potential uses in construction and agriculture published on the company’s site. It’s quite a rabbit hole, as internet deep-dives go, and I highly recommend it.

That said, the electrically driven hydraulics and high-precision Rototilt wrist on the end of the boom arm’s “claw” alone make this futuristic excavator worth some attention. As more and more manufacturers switch to full electric or even “just” electric drive, research into better solutions for existing hydraulic equipment and expertise could lead to big market wins.

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UK

Conservative Andy Street suffers shock loss to Labour in West Midlands mayoral race in blow to Rishi Sunak

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Conservative Andy Street suffers shock loss to Labour in West Midlands mayoral race in blow to Rishi Sunak

Tory incumbent Andy Street has suffered a shock defeat to Labour in the West Midlands mayoral election after a partial recount was ordered.

Labour’s Richard Parker beat Mr Street by just 1,508 votes – 0.25% – to deliver a major blow to Rishi Sunak in the key electoral battleground after a hammering in the local elections.

With the race neck-and-neck, in the end it came down to the results in one borough – Labour-supporting Sandwell.

“This is the most important thing I will ever do,” Mr Parker said in his acceptance speech.

“I promise you that I will deliver jobs,” he added.

He told Sky News he would take buses “back into public control” and deliver the “largest programme of social housing we’ve had in this region for more than 40 years”.

And he thanked his predecessor, who he said had “led this region through a number of great challenges and you deserve great credit for that”.

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Mr Street told Sky News he was “personally devastated”, had “put my all into this”, and “genuinely believed we were making real progress across the region”.

He said it was “my campaign, totally”, adding: “I’m not going to try to push responsibility anywhere else. There’ll be no sloping shoulders from me.”

He wished his successor “all strength and wisdom”.

Labour leader Sir Keir Starmer said it was a “phenomenal result” and “beyond our expectations”.

He added: “People across the country have had enough of Conservative chaos and decline and voted for change with Labour.

“My changed Labour Party is back in the service of working people, and stands ready to govern.”

Labour's Richard Parker speaks as he is elected as the new Mayor of West Midlands, following the count at the International Convention Centre in Birmingham. Picture date: Saturday May 4, 2024.
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Labour’s Richard Parker has promised to deliver jobs

Local elections live
The mayoral election results

Ellie Reeves, Labour’s deputy national campaign co-ordinator, said it was a “significant victory”.

She added: “Right across the country people have voted for change and the message is clear – it’s time for a general election and a Labour government to get our country’s future back.”

Labour’s Sadiq Khan has secured a historic third term as London mayor with a convincing win over Conservative rival Susan Hall.

These results will increase pressure on the prime minister, who had been hoping for a repeat of the success enjoyed by Conservative Ben Houchen who held on as the mayor of Tees Valley.

Sam Coates, Sky News’s deputy political editor, said he had seen messages from Conservative MPs’ WhatsApp group.

One from former cabinet minister Simon Clarke, whom Coates said “wants Rishi Sunak to leave”, said: “These results are awful and should be a massive wake-up call.

“If we fight the same campaign in a few months [in the general election] we’ll get the same outcome or rather worse.

“Reform UK standing more candidates will cause greater damage.”

Read more:
The winners and losers
Charts tell story of Conservative collapse

Analysis: Labour’s future success is less clear-cut

The loss of either the Teesside or West Midlands mayoralties would give Tory rebels who want to change leader a “huge amount of fuel”, former Scottish Conservative leader Ruth Davidson said in the Electoral Dysfunction podcast.

Mr Street, who was seeking a third term in office, sought to distance himself from the Conservative brand during his campaign and instead ran on a personal platform.

Sky News recently revealed that Mr Street was sending out election literature with an endorsement from former prime minister Boris Johnson which urged people to “forget about the government”.

His campaign website also made no mention of Mr Sunak on its homepage and was coloured in green rather than Conservative blue.

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