Bitcoin and the broader cryptocurrency market fell nearly 10% on Saturday. Original
Bitcoin Falls 8%, Drops Below $62K Before Rebound
Day: April 13, 2024
Grayscale CEO Sees GBTC Reaching Equilibrium, Expects Outflows to Ease
Crypto asset manager Grayscale Investments believes that GBTC “has started to reach a little bit of an equilibrium,” says CEO Michael Sonnenshein, noting that some anticipated outflows from the firm’s spot bitcoin exchange-traded fund (ETF) are “largely behind us.” The crypto asset manager also expects GBTC’s fees to come down “as markets mature.” Grayscale’s CEO […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Massive Bitcoin Market Turbulence Triggers $4,500 Crash; $167M in BTC Longs Erased in 1 Hour
The price of bitcoin continued to decline over the weekend, dropping an additional 7.7% in the last 24 hours. It plummeted to a daily low of $61,384 per coin, prompting a significant wave of leveraged liquidations on Saturday. Bitcoin Value Declines Amid Market Instability; Extensive Liquidations Reported By 4:00 p.m. Eastern Time on Saturday, bitcoin’s […] Original
Uncertainty Over Fed Rate Cuts Intensifies With Sticky Inflation Metrics
As each day unfolds, analysts, economists, Wall Street institutions, and Fed watchers have increasingly postponed their forecasts for when the U.S. Federal Reserve will reduce the benchmark interest rate. Current data suggest that a rate cut in June is unlikely, with odds standing at 50-50 for a reduction in July. Financial Analysts Question Timing of […] Source CryptoX Portal
Avalanche (AVAX) Downtrend Persists Amid Market Uncertainty
Generally, the cryptocurrency market is bearish at the moment, with coins like Avalanche (AVAX), Ethereum, Litecoin, XRP, Solana, and others all caught in this trend. Currently, the price of AVAX is on a strong bearish move below the 100-day Moving Average (MA) and could continue in that direction for a while before retracing. Technical Indicators Suggest A Bearish Trend For Avalanche Observing the chart from the 4-hour timeframe, AVAX has crossed below both the 100-day moving average and the trend line. This could mean that the price is on a…
Mezo raises $21m in Pantera-led funding round
Mezo, a Bitcoin (BTC) layer-2 (L2) network, has emerged from stealth mode with $21 million in venture capital. Pantera Capital led the funding round. Multicoin, Hack VC, ParaFi Capital, Nascent, Draper Associates, Primitive Ventures and Asymmetric Ventures joined the effort. Individual investors, including Dan Held, Tim Draper, and the pseudonymous DCF God, also participated. Thesis, a blockchain venture studio that developed Mezo, confirmed the fundraising round, earlier this week. Mezo operates as a permissionless Bitcoin economic layer, utilizing a neutral smart contract framework to offer a variety of applications. It…
Winklevoss twins invest $4.5m of Bitcoin in UK football club
Cameron and Tyler Winklevoss, founders of the cryptocurrency exchange Gemini, are now investors in Real Bedford Football Club. The brothers put $4.5 million worth of Bitcoin into the football club as part of a transaction facilitated through Winklevoss Capital, their investment firm. This new partnership places them alongside cryptocurrency podcaster Peter McCormack, who acquired the club in 2022. The Winklevoss twins’ financial infusion into Real Bedford is committed to several forward-looking projects. These include creating a new training facility, establishing a football academy and bolstering support for youth and girls’…
Arthur Hayes Introduces New ‘Risk Radar’ for Ethena’s USDE Stablecoin
Following criticism of Ethena’s USDE stablecoin, which brought back memories of the Terra blockchain’s Anchor protocol failure, Ethena backer Arthur Hayes introduced a risk tracker by intotheblock.com that monitors aspects like the token’s adherence to its U.S. dollar peg. Intotheblock.com’s Ethena Risk Radar Dashboard At the time of reporting, Ethena’s recently launched USDE stablecoin boasts […] Source CryptoX Portal
Market Expert Reveals Why Solana Price Is Poised To Go Higher
A cryptocurrency analyst, who accurately foresaw the market’s bottom in 2018, is now focusing on Solana, foreseeing a price bottom for the cryptocurrency and identifying its next target after reaching it. Solana To Rise Above $200 After Hitting This Bottom In a Wednesday X (formerly Twitter) post, a crypto analyst identified as ‘Bluntz’ has highlighted a potential price bottom for Solana. Following up on the previous forecast on April 4, where he predicted that Solana would hit a bottom at or below $160 before pushing back up, Bluntz revealed in…
Edward Snowden is not worried about Bitcoin prices dropping
With visible panic on social media after yesterday’s $900 million liquidation across the crypto market, Edward Snowden remains unfazed. The overall crypto market cap has fallen by nearly 5% since yesterday, and the meme coin market has fallen by 13%. Bitcoin dropped to $65,000, with daily trading volume soaring to 60%, indicating a wider sell-off from investors. Bitcoin ETFs also saw a net outflow of $55 million yesterday. However, Snowden — a computer intelligence consultant and whistleblower famous for leaking classified information from the National Security Agency — took to…