Category: Cryptocurrency News

Crypto analyst DonAlt has outlined a scenario where the Bitcoin price could drop to as low as the mid-$40,000. He further suggests that this price breakdown might be necessary for the continuation of BTC’s bull run. How Bitcoin Could Drop To As Low As $47,000 In an update to his Bitcoin analysis, DonAlt noted that Bitcoin had dropped back to around the $60,000 price range and could eventually break that support if it continues to be tested. From the accompanying chart he shared, the crypto analyst hinted that a price breakout below the $60,000 range would see Bitcoin drop to $52,000 or even further down to $47,000.  Related Reading: XRP Price Prediction: Analyst Says Prepare For 700% Jump To $4, Here’s When Source: X Meanwhile, he added that this might be something even the bulls want, so there could be a washout below $60,000, which would shake off weak hands. DonAlt also seems to support a price breakout below the support area, as he shared his belief that there is currently complacency in the market.  This is when crypto investors ignore the risks associated with Bitcoin, having seen price increases for an extended period. DonAlt said he would continue to hold this complacency belief until proven otherwise. For that to happen, he remarked that Bitcoin would need to reclaim $68,000 or drop below $60,000 and reclaim that support level again.  Denis Baca, Head of Product at Zivoe Finance, also recently suggested that BTC could drop below $60,000 before it makes any parabolic move. This was a huge possibility, especially since Baca noted that the flagship crypto historically retests the support level of the 20-week SMA (small moving average) in May. He claimed this could cause Bitcoin to drop to $56,000.  BTC Bulls Are Getting Overwhelmed By The Bears Bitcoin bulls look to be succumbing to the pressure from the bears. Crypto analyst Ali Martinez revealed in an X post that there has been a “noticeable dip in Bitcoin whale activity” since March 14. This suggests the current market downtrend could be diminishing their confidence, as these whales are always known to accumulate more during every price dip. Martinez added that a “surge in whale transactions could be the spark needed to boost” BTC’S price. Related Reading: Brace For Price Impact: Dogecoin Whales Move Massive 456 Million DOGE To Exchanges Meanwhile, CryptoQuant’s Head of Research, Julio Moreno, recently noted that Bitcoin’s price has remained tepid due to the slowdown in demand. He alluded to the Spot Bitcoin ETFs, which have seen their demand decline this month. Like Martinez mentioned, Moreno stated that there needs to be a “demand growth” for Bitcoin to experience another rally.  At the time of writing, Bitcoin is trading at around $62,300, down over 2% in the last 24 hours, according to data from CoinMarketCap.  BTC price trending at $62,200 | Source: BTCUSD on Tradingview.com Featured image from Xataka, chart from Tradingview.com

Proposal to Form an Unincorporated DAO We are committed to expediting further development and reinstating moon distributions, as voted on by the community (https://snapshot.org/#/cryptomods.eth/proposal/0xe0023693d8c263b40378866be5b21f00d89c0c6f3cabb31228475706c8e99c09). After further debate and discussion, the mod team proposes that the best approach is to proceed as an unincorporated DAO for at least the first year and thus defer the plan…
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Microstrategy, the Nasdaq-listed software intelligence firm and “the world’s first bitcoin development company,” has disclosed that it now holds 214,400 bitcoins after the latest purchase. “We acquired 25,250 additional bitcoins since the end of the fourth quarter, our 14th consecutive quarter of adding more bitcoin to our balance sheet,” said the company’s chief financial officer. […]

Bitcoin bulls may soon be back in business. According to Willy Woo, an on-chain analyst, market data shows that urgent “market sells” responsible for forcing the coin from all-time highs are now falling. This development may prop up prices, preventing further sell-offs. Bitcoin Selling Pressure Easing This preview is due to falling Cumulative Volume Delta (CVD) data, an on-chain indicator that can also track market sentiment. Specifically, it tracks buying and selling aggression from market participants. Now that CVD is dropping, Woo says more BTC holders are likely willing to weather the storm. Their decision may directly support prices.  Woo adds that BTC must reject selling pressure and end the current short-term weakness as things stand. As on-chain data shows, BTC should stay above $59,600. The CVD lie has historically separated bullish and bearish zones.  Related Reading: Polygon In Peril: Will MATIC Bounce Back Or Stay Stuck In The Sub-$1 Doldrums? Based on this, BTC should remain above the $60,000 round number for the uptrend to be sustained. If not, and bears take over, pressing prices lower below the CVD level could signal the beginning of a new bear regime. Thus far, BTC is under immense selling pressure, shaving approximately 15% from all-time highs. The coin has support at around the $60,000 and $61,000 zone, moving inside a range. Resistance is at an all-time high of around $74,000 on the upper end.  Based on this preview, any losses below $60,000, as Woo notes, would likely see BTC dump. The coin might drop to $53,000 in the short term, torching stop losses and fueling the sell-off. Will Hong Kong Spot ETF Launch Lift Prices? Whether BTC bulls will flow back depends mostly on institutional involvement in the days to come. Following the approval of spot Bitcoin exchange-traded funds (ETFs) in January, prices spiked higher, breaking previous all-time highs. Institutional involvement has been vital. However, inflows have slowed down, especially in the last two weeks of April. Analysts are now looking at the launch of spot Bitcoin ETFs in Hong Kong on April 30.  Related Reading: Ethereum Fees Dive: Will This Spark A Surge In Network Activity? In a recent interview, Zhu Haokang, the Head of Digital Asset Management in Hong Kong, is bullish. Haokang expects trading volume to eclipse those seen in the United States. The executive says the product is unique, allowing for a physical subscription that’s more attractive for BTC miners. Moreover, it is global, drawing interest from Singapore and the Middle East investors. Feature image from DALLE, chart from TradingView

The terms of Keonne Rodriguez’s bail prevent him from engaging in “any cryptocurrency transactions, directly or indirectly,” without prior approval from the court.

Modular blockchains might lead to a poor user experience, but — unlike Solana — they remain functional even during periods of high demand.

Lawyers for Terraform claimed that seeking disgorgement from the platform would involve the Luna Foundation Guard, a “non-party” in the SEC’s civil case.