The market has entered a euphoric phase, with rising profit-taking.After momentarily breaching the $71,000 mark, Bitcoin (BTC) fell sharply, reaching a low of $65,110 on Friday.After falling more than 5% in the previous day, Bitcoin has recovered to $67,553 at the time of publication. Although the recent drop in Bitcoin’s price from $71,000 to $65,000 startled the cryptocurrency community, on-chain data suggests that this decline was not wholly unanticipated.On April 11, the cryptocurrency analysis firm Kaiko tweeted that there was an increase in anticipated short-term volatility.This is a result of the implied volatility for expiries in the next two weeks suddenly rising in just two days, from 59% to 71%. Apart from that, there had been two important indications that had flashed warning signs, indicating the upcoming correction before it really happened.The on-chain analytics company CryptoQuant claims that although these signs have been pointing to weakening since late March, they may have been ignored due to market euphoria. Since late March, the two most important metrics—traders’ unrealized profit margins and the realized price—have shown decline.Because of this, CryptoQuant strongly advises the cryptocurrency community to monitor these measures in the event that the current market correction lasts.With Bitcoin falling below $66,000 for the first time since April 4, liquidations have now totaled an incredible $920 million.Santiment claims that the S&P 500 and gold prices have also declined in tandem with cryptocurrency prices, indicating that worries about inflation and CPI are emerging in a number of industries. The latest Glassnode analysis indicates that the market has entered a euphoric phase and that profit-taking has increased in tandem.One could argue that the current euphoria period (market in price discovery) is still relatively early in comparison to the ATH breaks of previous cycles.Many price decreases of more than -10% have occurred during previous euphoria periods; the majority of these drops were noticeably deeper, with a 25% average.With the current price, Bitcoin has dropped 8.32% from its peak, which was $73,750 in mid-March.

Following a $4.5 million Bitcoin investment to support the club’s goals, Cameron and Tyler Winklevoss have become co-owners of Real Bedford Football Club (RBFC), owned by Bitcoin podcaster Peter McCormack.As per a recent announcement, the Winklevoss twins used their investment vehicle, Winklevoss Capital, to carry out the acquisition and investment.The club will utilize the funds to create a Bitcoin treasury, and McCormack told Cointelegraph that the goal of the treasury is to protect the club “against long-term fiat debasement.” “The investment helps with the infrastructure. We need to grow this with our ambitions,” McCormack explained. Additionally, the funds will be allocated toward developing a new training center and ongoing support for girls’ and youth football. McCormack bought RBFC in 2021. Bedford, where he was born and raised in the United Kingdom, has a population of just less than 200,000.His goal is for RBFC, which takes Bitcoin for game day tickets, merchandising, sponsorships, and drinks, to play in the English Premier League with renowned British teams like Chelsea and Manchester United. “We are a long way from the Premier League. As exciting as that is our ambition, I

Conversely, the meagre inflows into Bitcoin ETFs suggest a decline in investor participation. On Friday, April 12, more than 2,500 Bitcoin and over $166 million were taken out of the Grayscale Bitcoin exchange-traded funds (GBTC) holdings. These withdrawals are still rather substantial. Since the Bitcoin ETF’s inception in January, outflows from GBTC have already topped

Exchange of cryptocurrencies If a legal issue has the potential to “significantly affect the conduct of the action,” Coinbase claimed that the issue is controlling. In an ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), cryptocurrency exchange Coinbase has asked a US court to examine a particular “controlling question.” In an April

Records labels must provide permission and payment in accordance with the proposed agreement before songs including computerised renditions of artists’ voices are released. Worker protections against the use of artificial intelligence (AI) and increased minimum salaries were secured through a preliminary deal reached by entertainment industry employees with major record companies such as Warner Music

According to statistics from Arkham, the US government is among the largest cryptocurrency holders, along with other nations like the UK and Germany. Arkham, a platform for crypto intelligence that aims to deanonymize institutions on the blockchain, has unveiled a dashboard that shows which governments own the most cryptocurrency. In an April 12 announcement, Arkham

The nation’s market regulator filed a petition, which an Australian Federal Court granted, asking for three experts from McGrathNicol, an independent advisory and restructuring firm, to receive the approximately US$41 million in digital assets that over 450 Australians had invested in the NGS group of blockchain mining companies. The sole directors of NGS Crypto, NGS

Bloomberg reported, citing two people familiar with the situation, that Hong Kong could approve spot exchange-traded funds for bitcoin (BTC) and ether (ETH) as early as Monday. According to the article, the products might be released by the end of the month if listing details are finalised with Hong Kong Exchanges & Clearing (HKEX) in

Tokenization is the focus of the International Organisation of Securities Commissions (IOSCO), a standard-setting body that announced its annual plan on Friday. The project will concentrate on tokenization use cases unique to the securities market and distributed ledger technology, building upon the IOSCO FinTech Task Force’s current crypto principles and guidelines. The plan states that

The blockchain landscape has definitely changed the shape of contemporary technology and corporate procedures with its wide range of applications and disruptive possibilities. Blockchain technology, which sprang from cryptographic principles and decentralised ideas, promised dramatic changes in peer-to-peer interactions, transparency, and data integrity. However, akin to numerous innovative technologies, there is a contradiction between its

The head of the virtual assets regulator in Dubai stated that he is looking for measures to make small cryptocurrency businesses more affordable. “I’m currently examining several options to ensure that the regulations and framework are suitable for all parties,” stated Matthew White, CEO of Dubai’s Virtual Assets Regulatory Authority (VARA), during the Paris Blockchain

The first licenced and registered issuer of digital assets in El Salvador, Bitfinex Securities, said that it will launch a tokenized debt offering to finance the development of a Hampton by Hilton hotel complex to be built near the nation’s international airport. The cryptocurrency will be exchanged against the US dollar and tether (USDT) and

Framework Ventures is leading a $10 million investment round for Uplink, a business that aims to democratise internet access. As a Decentralised Physical Infrastructure Network (DePIN), the company operates in a market that data provider Messari projects could be worth $3.5 trillion by 2028. DePIN initiatives use tokens to encourage individuals to crowdsource the infrastructure

The Consumer Price Index (CPI) for March increased more than expected, which raised doubts about the likelihood of a rate decrease by the Federal Reserve this summer. This is just another example of how inflation data has disappointed.March’s CPI increased by 0.4% compared to February’s 0.4% and the 0.3% forecast.The CPI increased 3.5% year over year in February, compared with a projected 3.4% increase. Instead of rising by the 0.3% expected and 0.4% the previous month, the core CPI—which does not include food and energy costs—rose by 0.4% in March.The core CPI increased 3.8% year over year in February, exceeding the 3.7% forecast. Within minutes of the publication, the price of bitcoin (BTC) dropped by almost 1% to $68,200.The S&P 500 and Nasdaq 100 futures are both down roughly 1.5%, indicating that traditional markets are also having trouble with the statistics.The dollar index has dropped by a significant 0.5%, and the yield on the 10-year U.S. Treasury has increased by 13 basis points to 4.50%.Gold is down 0.5% to $2,352 per ounce. Gold has been setting new records almost every day as of late. One of the bullish triggers for bitcoin in 2024 was anticipated to be a looser U.S. monetary policy, in addition to the halving and spot ETFs.Although the markets entered the year having priced in roughly five or six rate cuts from the Federal Reserve in 2024, inflation, which declined gradually for the majority of 2022 and 2023, hasn’t cooperated.In fact, during the first quarter, it increased somewhat and is still much more than the 2% target set by the US central bank. Numerous Fed members have stated unequivocally that they are unwilling to start relaxing monetary policy unless they observe a consistent lower trend in inflation—that is, more than just one monthly report.According to the CME FedWatch Tool, traders had priced in just two or three rate cuts for the entire year before this morning’s news, with the first move coming in June or July. In the meantime, traders have rapidly reduced their expectations of rate reduction.The algorithm now indicates that September is the most likely month for an initial rate drop in light of the updated inflation statistics.

According to cryptocurrency exchange Coinbase, customers in the UK can now use Apple Pay on their iPhones to buy Bitcoin, Ether, and other digital assets.Apple Pay would, in Coinbase’s opinion, enable its users to purchase cryptocurrency in a “more secure and private” manner.According to the exchange, neither the device nor the Apple servers save credit card numbers when customers use Apple Pay to make payments.According to Coinbase, a distinct device account number is assigned, encrypted, and kept in a chip that is industry standard for storing payment data.According to Coinbase’s national director for the United Kingdom, Daniel Seifert, the new connection facilitates faster access to digital assets in the nation. He declared. “We know users already love using Apple Pay in their daily lives, so it only made sense to bring this convenient way to pay to Coinbase as well.” Over six million adults in the UK possess cryptocurrency, according to Coinbase.The business stated that by reducing entry barriers to digital assets, the Apple Pay integration is a part of its aim to “increase this number.” The integration happens at the same time as volume and retail interest in cryptocurrency are declining.According to Coinbase, as the market looks for the next big story to drive it higher, cryptocurrency volumes are down as of April 5.According to the exchange, a price increase could be sparked by the impending halving of Bitcoin.Nevertheless, the exchange also made clear that it has to deal with the fact that riskier assets like cryptocurrency are subject to a “typically weak time of year.” Data on social media participation indicates poor retail interest in cryptocurrency in addition to low volume sales.The social analytics firm LunarCrush released statistics on April 10th, which indicated a decrease in social media posts pertaining to cryptocurrency-related keywords such as Bitcoin, Ethereum, and Solana’s token.In comparison with other significant bull markets, Joe Vezzani, CEO of LunarCrush, stated that there is less retail interest and social contact.The executive thinks there might be a drop in social media activity related to cryptocurrency after accounting for spam and bots.

Minister for Commerce Andrew Bayly responded to a legislative committee’s inquiry by saying that New Zealand should encourage the expansion of the cryptocurrency industry and regulate it using an evidence-based approach. After an investigation into the possible effects and hazards posed by the industry, the Finance and Expenditure Committee made recommendations in a report. The

According to Michael Sonnenshein, CEO of digital asset investment management Grayscale, withdrawals from the company’s exchange-traded fund (ETF) for bitcoin (BTC) are expected to level out, as reported by Reuters on Wednesday. According to a story citing a Reuters podcast, Sonnenshein stated that part of the selling related to settlements of failed cryptocurrency startups like

According to Reuters, which cited two people with knowledge of the situation, Hong Kong regulators are expected to approve the first round of applications for spot bitcoin exchange-traded funds (ETF) next week, opening the door for the products to begin trading as early as April. Singapore and the UAE are not currently reflecting immediacy, therefore

In an effort to develop into a community-driven protocol, Zeta Markets, one of the top five decentralized derivatives platforms on Solana, announced the launch and airdrop of its native token Z on Tuesday.According to a news release provided, the governance token will give token holders more benefits and allow community members from the larger Solana ecosystem to comment on significant Zeta decisions.A total of one billion Z tokens will be available, of which ten percent will be given out via an airdrop to stakeholders, active Zeta traders and community members, and Zeta users who are part of important Solana communities. Based on their Z-score—a system of points that Zeta uses to award platform users—active traders will get half of the initial distribution.Of the total, 40% will go to strategic members of the Solana community and the Trustees of Z.Furthermore, market makers—who are essential to maintaining first-rate liquidity and ideal exchange conditions—will be given incentives by Zeta using thirty percent of the token supply.Creating buy and sell orders in an order book and preserving a healthy level of liquidity are the responsibilities of market makers, which enable the execution of bulk transactions at steady prices. The press release went on to say that the introduction of the governance token is a part of a larger plan that also includes the release of Solana’s first layer 2 scaling solution. “Zeta’s vision from day one has been to make decentralized finance a viable alternative to centralized, black-box financial systems. With a platform that has already stood the test of time and facilitated billions in volume for tens of thousands of traders, we’re excited to launch Z, the governance token of Zeta, to

Rep. Patrick McHenry (R-N.C.) remains steadfast in his belief that Congress can pass a stablecoin regulation bill before he leaves office at the end of the year, even in the face of a turbulent political environment and the House Financial Services Committee’s failure to vote on a bill he had previously sponsored. “I think we can get our stablecoin policy set through and signed into law,” McHenry said Tuesday at a Bitcoin Policy Institute event in Washington. “That will be the first sign that there is hope and that there is bipartisanship when it comes to this world of digital assets.” Senators from the United States have drafted legislation to deal with stablecoins, which are tokens linked to reliable assets like the dollar, but the Senate Banking Committee hasn’t yet addressed any of it. A bill that would be signed by President Joe Biden would need to pass both houses. McHenry has been working with House Democrats and members of his party to draft stablecoin legislation for months. A bill that passed his committee has the backing of multiple Democrats.However, there has been opposition to the federal government’s role in supervising stablecoin issuers from the administration and from Rep. Maxine Waters (D-Calif.), the leading Democrat on the panel. For the longest time, lawmakers believed that this area of the cryptocurrency market was the easiest to regulate; but, the reality of a disorganized, sharply divided Congress have frequently dashed hopes for legislative achievement.