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Raphael Bostic, President of the Federal Reserve Bank of Atlanta, suggests a delayed Fed rate cut.
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Bitcoin halving parties buzz globally from El Salvador to Switzerland as users celebrate the market leader's milestone.
Major Events To Watch
Crypto Fear and Greed Index:
The "Fear and Greed Index" has surged by 9 points, indicating increased buying pressure, currently at 66 out of 100, suggesting a potential rebound from lower levels.
Latest Market Update:
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#Bitcoin stayed close to $62,000 after briefly dropping below $60,000 due to reported explosions in Iran.
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#Solana ($SOL), #Injective ($INJ), #Near Protocol ($NEAR), and #Neo ($NEO) showed gains amid Bitcoin and Ethereum downturn.
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#Toncoin surged by 13.00% in 24 hours, marking the highest gain among tokens.
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Conversely, #CORE experienced the largest decline, dropping over 8.63% in a single day.
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Total crypto market volume in the last 24 hours stands at $100.82 billion, reflecting a 2.29% increase.
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DeFi's total volume is presently $7.17 billion, accounting for 7.11% of the overall crypto market volume over the past 24 hours.
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The volume of all stable coins has reached $94.88 billion, constituting 94.10% of the total crypto market volume in the last 24 hours.
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Bitcoin's dominance is currently at 54.06%, marking a 0.24% increase throughout the day.
Major Worldwide News Update:
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Bitwise CEO Hunter Horsley's recent comments on Bitcoin's post-halving price prospects sparked fervor in the crypto world. He predicts a $100K Bitcoin, emphasizing past halvings' impact. Horsley believes ongoing volatility doesn't reflect BTC's potential, highlighting sustained demand and reduced selling pressure as catalysts for future growth.
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Amid escalating geopolitical tensions, Bitcoin slid below $60K as investors sought refuge in safe-haven assets like gold. Peter Schiff criticized BTC's volatility, while gold surged 1.6%. Silver outpaced gold's gains, signaling alternatives for stability-seeking investors. Bitwise CEO noted growing interest in Bitcoin among investment professionals despite market turmoil.
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Amid ongoing Israel-Iran tensions, Bitcoin dropped below $60K due to geopolitical concerns, rebounding to $62,000. Reports of Israeli attacks on Iran fueled market uncertainty. With the halving approaching, uncertainty persists over its impact, compounded by speculation that it's already priced in. JPMorgan predicts potential post-halving downtrend, highlighting impacts on mining companies.
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Speculation surrounds Fed rate cuts, with Atlanta Fed President Raphael Bostic favoring maintaining rates until year-end. Robust US economic data, including strong job growth, supports this stance. Uncertainty persists, with market expectations of rate cuts diminishing, potentially impacting cryptocurrency markets reliant on Fed decisions.
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BlackRock plans Saudi expansion after Bitcoin ETF triumph, capitalizing on CEO Larry Fink's ties with Crown Prince Mohammed. Despite hurdles like human rights issues, BlackRock targets Saudi's oil-driven economic transition. Leveraging PIF's assets, it navigates geopolitical risks. iShares Bitcoin Trust underscores BlackRock's financial innovation amid market ups and downs.
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Bitcoin holders added a record $1.7 billion worth of BTC to accumulation addresses as prices dipped below $63,000. The surge in accumulation suggests strong confidence from dedicated investors, with analysts foreseeing a potential post-halving rally. Market patterns mirror previous halving cycles, with expectations of a re-accumulation phase post-halving, potentially leading to a rapid market cycle.
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Ethereum's Q1 income surged to $365 million, with a yearly revenue growth of 155%, pointing to a path to $1 billion annual profits. The increase in fee revenue, primarily from DeFi activity, drove the spike. Analyst Michael Nadeau predicts crypto dominance, citing ETFs, halving, and innovation cycles as bullish factors.
COIN GABBAR Views: Is Bitcoin on the verge of plunging below $60K or poised for a comeback? What effect does the Bitcoin Halving have on Bitcoin's price? Is it advisable to go long on BTC as it hovers above crucial support levels? To get latest news Stay tuned us at coingabbar
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Also Read: Crypto Prices April 18: Crypto Market Surges After Major Dip
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