Bitcoin experienced significant volatility on Tuesday, with a notable sell-off followed by a quick recovery, fueled by a flush of accumulated leverage and the approval of Bitcoin Spot ETFs, which have attracted massive daily inflows and are expected to continue contributing to the market's turbulence.
In early 2024, the SEC's decision to allow 10 spot Bitcoin ETFs to begin trading, sponsored by major asset management companies like BlackRock and Fidelity, has brought new attention and investment to Bitcoin, resulting in all-time highs and record inflows, but analysts are uncertain if the momentum can be sustained.
Federal Reserve Chair Jerome Powell testified about the Fed's inflation goal and the need for more data before cutting interest rates, while Senator Cynthia Lummis discussed bitcoin regulations and the cryptocurrency's increasing acceptance as a safe investment.
Bitcoin's rapid recovery from a recent plunge suggests that it may be on the path toward new all-time highs, with analysts predicting a target of $76,000.
Cross-chain protocol Wormhole has revealed more information about its upcoming launch and airdrop for its W governance token, which will be available to users on Ethereum, Solana, and other blockchains, with nearly 400,000 unique wallets eligible to claim it. The airdrop will allocate 617.3 million W tokens, with 500 million tokens distributed to users who have utilized a Wormhole application across eligible chains. The remaining tokens will be offered to users across other applications and crypto communities. The W token will be available on multiple chains including Solana, Ethereum, Base, Arbitrum, and Optimism.
Altcoins have been lagging behind Bitcoin during its recent surge, but there may be an opportunity to invest in promising altcoins before their season kicks into high gear, such as UniBot (UNIBOT-USD), OpenFabric AI (OFN-USD), and Alephium (ALPH-USD).
Bitcoin's recent all-time high has not kept up with inflation, but it has still performed well and gained significant value compared to its early years, showcasing its potential as a store of value and investment.
Blockchain game studio Neon Machine has revised its token unlock schedule for its game Shrapnel on Avalanche, reducing the number of tokens that will be unlocked in April by nearly 75% in order to align with the project's product delivery timeline and enhance token utility. The revised schedule impacts unlock schedules for the team, advisors, seed token holders, and strategic token holders.
Meme coins like Shiba Inu, Dogecoin, Dogwifhat, and Bonk have experienced massive gains, with factors like technical developments, reduced token supply, and investor interest driving their resurgence.
Token bridging service Wormhole plans to release a governance asset called W token, distributing 6% of the token's total supply to past users, who will vote within a yet-to-launch entity called Wormhole DAO, while the platform allows users to move money across various blockchains.
BlackRock's iShares Bitcoin ETF attracted $778.3 million worth of Bitcoin as the cryptocurrency hit a new all-time high, with the fund seeing record trading volume of $3.75 billion on Tuesday.
Bitcoin reached a new all-time high above $69,000, accelerated by the launch of spot bitcoin ETFs, which have been an important factor in this rally according to experts, although they believe the new high would have happened eventually even without the ETFs.
Bitcoin ETFs from BlackRock and Fidelity have exceeded expectations, with $8.5 billion in net inflows in less than two months, surpassing gold ETFs to become one of the top 20 most actively traded ETFs each day.
Warren Buffett remains steadfast in his belief that cryptocurrency, particularly Bitcoin, is not a viable investment and predicts a negative outcome, highlighting the lack of tangible value and income generation compared to other assets.
Uniswap's UNI token surged 20% as overwhelming community support was shown for a governance proposal to distribute protocol revenues among token holders, potentially resulting in annual dividends of $62 million to $156 million, although the initiative may attract regulatory scrutiny.
Cryptocurrency exchange Coinbase is offering free in-game items and currency for Parallel, an Ethereum NFT card game, to new players who access the game through Coinbase's platform.
The chart of Apple Inc (AAPL) stock shows that it has fallen to a critical level and investors should consider using hedges to protect their positions, while the momo crowd is aggressively buying tech stocks and crypto on hopes that Powell will be dovish in his answers during his testimony in front of Congress.
FTX founder Sam Bankman-Fried faces the possibility of a significant prison sentence for his fraud convictions despite optimistic signs of FTX's recovery and the potential for customers and creditors to recoup their losses.
Spain's data protection authority has ordered Worldcoin to temporarily cease collecting and processing personal data, including biometric data, for its controversial eyeball-scanning blockchain crypto project, citing concerns over privacy and data protection.
Solana's meme coin, Dogwifhat (WIF), briefly surpassed BONK as the network's top meme coin by market capitalization with a market cap of over $2 billion, but BONK regained its lead by a small margin; both coins have experienced significant growth in recent weeks.
Warren Buffett has maintained his skepticism toward cryptocurrencies like Bitcoin, emphasizing that they lack tangible value and will come to a bad ending, while highlighting the importance of investing in assets that yield real, tangible benefits.
Ethereum is predicted to continue its ascent and reach $4,800, while Floki is expected to become a top-performing memecoin with a potential 1,465% increase, according to a popular crypto strategist. The strategist also believes that the crypto market is in a bull market and prices will likely keep rising.
Despite the significant growth in Litecoin's price, on-chain data suggests that the recent surge may be more related to the broader cryptocurrency market rather than Litecoin's fundamentals, raising concerns about the sustainability of the growth and the possibility of future corrections.
Spain's data protection regulator, AEPD, has demanded that Sam Altman's cryptocurrency project Worldcoin immediately stops collecting personal data in the country using eyeball-scanning technology and ceases using data it has already gathered, citing concerns about compliance with biometric data laws and the collection of information about minors.
The upcoming Ethereum upgrade, Dencun, is expected to lower costs for layer-2 blockchains, resulting in lower fees for users of these auxiliary networks.
The meme coin Dogwifhat (WIF) has experienced a significant surge, rising over 100% in just 12 hours, reaching an all-time high of over $2 with a market capitalization exceeding $2 billion, as crypto whales took advantage of the price dip to accumulate WIF at low prices.
The UK is considering implementing the OECD's crypto asset reporting framework to address tax non-compliance and potentially generate revenue of £35 million ($45 million) by 2027.
MicroStrategy is offering convertible notes worth $700 million to acquire more Bitcoin, making it the largest corporate holder of BTC globally, and while the company's stock price has surged, analysts believe there may be a potential downside in the future.
Binance, the largest crypto exchange in the world, has launched a fragrance called "CRYPTO" in an effort to attract more women to the crypto space, with the promotion offering the first 5,000 women who complete a beginner course on Binance Academy $25 in USDT.
Web3 app store Magic Square is allocating $66 million in SQR tokens to provide grants for projects on its platform, aiming to support the marketing efforts and visibility of the selected apps and games.
The BlackRock iShares Bitcoin ETF purchased over $778 million worth of bitcoin, setting a new daily high, as investors bought the dip in the cryptocurrency market.
Bitcoin miners in Texas who were once welcomed for their cheap power and renewable energy usage are now facing backlash from residents and government officials who are concerned about the impact on energy prices, the environment, and the stability of the energy grid. The Texas Blockchain Council has filed a lawsuit against the federal government over an energy usage data request, but the government has agreed to destroy the data it collected and withdrawn the survey. The debate over bitcoin mining in Texas continues, with concerns about noise pollution, blackouts, and increased energy costs for consumers.
The price of Fetch.ai (FET) has surged to a new all-time high, indicating growing interest from investors, but there is concern that the selling activity of whale addresses and the altcoin being overbought could lead to a decline in price.
Digital Currency Group (DCG) and CEO Barry Silbert have filed motions to dismiss a lawsuit brought by the New York Attorney General, alleging that investors were defrauded out of $3 billion by DCG and its affiliated firms. DCG argues that it actually contributed $1.4 billion to the troubled business of Genesis Global Capital, disproving the allegations.
The Democratic National Committee and a joint fundraising committee have surrendered $765,000 from a convicted crypto executive to the U.S. Marshals Service, making it the latest political committee to give up contributions from FTX executives involved in a criminal case.
Meme coins based on politicians and celebrities, such as the BODEN token based on Joe Biden, are surging in popularity on Solana despite their high risk and susceptibility to scams.
The liquidity gap between the ask and bid sides of the market for Bitcoin has widened to nearly $100 million, indicating profit-taking among investors and market makers' positions, potentially causing temporary resistance to the cryptocurrency's price rally.
Grayscale has launched the Grayscale Dynamic Income Fund (GDIF), an actively managed fund that aims to optimize income through staking rewards of proof-of-stake digital assets with capital appreciation as a secondary goal, widening its range of cryptocurrency investment products.
Solana meme coin Dogwifhat (WIF) remains strong in the face of market volatility, showing a 14.7% increase in price and nearing the market cap of fellow meme coin BONK, despite the risks associated with meme coin investments.
The integration of blockchain and artificial intelligence (AI) is seen as crucial in addressing the shortcomings of centralized AI systems, particularly regarding data privacy and security, and in creating a more resilient and decentralized infrastructure for AI. Blockchain's potential to enhance security, privacy, and the integrity of AI-generated content, as well as its alignment with the principles of ownership, privacy, and democratization, makes it a viable solution. The convergence of AI and blockchain is believed to be the future direction of technology, enabling a decentralized and user-empowered internet.
Ethereum reaches its highest price since the end of 2021, driven by staked Ethereum surpassing $116 billion and anticipation for the Dencun upgrade, which aims to reduce transaction costs and improve scalability.
Shiba Inu's price has experienced significant growth recently, leading investors to speculate whether this is the start of a sustained increase or just another volatile episode in the cryptocurrency market. The MVRV ratio and the percentage of supply held by top addresses provide insights into the bullish sentiment and potential price trajectory of SHIB. Additionally, the In/Out of Money Around Price chart suggests that if SHIB maintains its hold above $0.000039, it could see a 50% increase in the coming weeks. However, a drop below this level may result in a lack of support and potential sell-offs.
Revolut has partnered with MetaMask to introduce a feature called Revolut Ramp, enabling users to top up their MetaMask wallets with their Revolut accounts, simplifying the process of adding crypto to self-custody wallets.
Dogwifhat (WIF), Solana's meme coin, surged 48% in the past 24 hours, crossing the $2 price mark and reaching a market capitalization of over $2 billion, likely driven by its listing on Binance.
Bitstamp has received regulatory approval from the Monetary Authority of Singapore, allowing the European cryptocurrency exchange to offer digital payment token services in the city state.
Bitcoin prices are recovering from Tuesday's drop, with buying demand and a reset in funding rates for perpetuals driving a broader-market recovery.
Bitcoin's recent pullback from its record high has normalized funding rates in the crypto perpetual futures market, potentially setting the stage for a more sustainable move towards new highs, while one observer warns that the market could continue to cool in the coming weeks, potentially pushing Bitcoin's price back to $40,000.
Gold prices reached record levels on Monday, prompting Peter Schiff to criticize Mark Cuban and Michael Saylor for their preference for Bitcoin over gold as a safe haven investment.
Bitcoin's steady climb towards its all-time high has cryptocurrency analysts predicting a major uptrend for altcoins, with Altcoin Buzz highlighting Akash Network (AKT), COTI Network (COTI), and SUI (SUI) as top altcoins poised to surge.
Crypto analyst and trader Ali Martinez predicts that a decentralized exchange altcoin will experience a breakout, while also suggesting that Cardano has upside potential and warning of potential dips in Bitcoin's price.
