On April 15, Bitcoin began trading at around $65,500 as the Wall Street market opened, following a significant drop over the weekend.
This stability marked a calm start to the traditional finance (TradFi) trading week in the United States, according to data from Cointelegraph Markets Pro and TradingView.
This period of calm contrasted sharply with the weekend’s events, where the BTC/USD pair fell to near $61,000, a decline triggered by geopolitical instability in the Middle East.
Fortunately, Bitcoin managed to avoid the more substantial losses experienced by some altcoins.
The focus among traders has now shifted towards the upcoming Bitcoin block subsidy halving, an event anticipated to create turbulent market conditions.
This event is known for significantly impacting trading patterns.
Keith Alan, co-founder of trading resource Material Indicators, commented on the situation, saying, “With the halving coming up in less than a week, I won’t be surprised to see a pump to the halving followed by a dump after the halving to shakeout weak hands before the next leg up.
“Of course escalating geopolitical tensions might alter the trajectory, so certainly tuned into that.” He also noted that resistance might persist above $70,000 until there is more buying activity at prices closer to the current spot.
Additionally, CoinGlass data indicated an increase in bid liquidity for Bitcoin at and below $66,000.
READ MORE: Victims of $6.2 Billion Chinese Fraud Scheme Seek UK Help to Recover $4.3 Billion in Seized Bitcoin
In the same vein, popular trader Skew noted significant activity in the market, stating, “Lots of systematic retests this morning, important day I think for crypto market to establish the next phase for direction.”
He emphasized the importance of maintaining exponential moving averages (EMAs) across 4-hour and daily timeframes and highlighted the need for Bitcoin’s relative strength index (RSI) to climb back above the central 50 level.
The cryptocurrency market also reacted to news from Hong Kong, which approved exchange-traded funds (ETFs) for both Bitcoin and Ether.
This development refocused attention on the potential for similar ETFs in the U.S.
Despite the weekend’s market downturn, Skew expressed concern over investor reactions, noting, “Red premarket, going to be keeping an eye on these today and potential price impact of spot flows.”
Reports from Cointelegraph indicated a slowdown in overall ETF inflows compared to previous weeks.
Meanwhile, the Grayscale Bitcoin Trust (GBTC) saw a modest outflow of about 1,600 BTC ($105 million). Popular trader Daan Crypto Trades suggested on X that the importance of GBTC flows as a market indicator might be diminishing.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Doctor Doge (DRDOGE) is an exciting new memecoin that is set to challenge other dog-themed memecoins, including Shiba Inu (SHIB) and Dogecoin (DOGE).
Doctor Doge (DRDOGE) has rallied 1,350% in the last 24 hours, reaching $0.0000491, as it begins its journey to eventually challenge the likes of Shiba Inu (SHIB) and Dogecoin (DOGE).
DRDOGE, a Solana memecoin, began trading on Raydium and Jupiter on 15 April, and its market cap is currently only around the $220,000 mark despite the huge gains it has already posted.
This means that Doctor Doge has massive potential to grow further, with it targeting a $5 million market cap before the end of April.
When this happens, investors who buy tokens at the current price will generate a 2,300% return on their investment.
For example, if an investor buys $500 of Doctor Doge at the current price, their coins would be worth $11,500.
Furthermore, DRDOGE (contract address: 8uckaPYZWDs57Lm5eeEVnx4FGJDLhXuvrmryzKj7yUvv) is poised to continue to aggressively rally even once a $5 million market cap is reached, as it looks to become as mainstream as Shiba Inu (SHIB) and Dogecoin (DOGE).
If this happens, early DRDOGE investors could turn hundreds or thousands of dollars into millions.
DRDOGE’s recent rally comes ahead of the first-ever listing on a centralized exchange for this coin – which is likely to cause its price to skyrocket once the listing is publicly announced.
This is because the listing will make it easier for millions of additional crypto investors to buy Doctor Doge, and lead to massive inflows into the coin.
Amid DRDOGE’s rally, most altcoins have dropped in value due to mounting tensions between Israel and Iran.
The Shiba Inu cryptocurrency has experienced a significant rise in its burn rate, soaring by 64,201% with a record 657 million SHIB tokens permanently removed from circulation in the last 24 hours, as per the Shibburn X account. This burn involved eight transactions totaling $13,878.
Notably, a single transaction accounted for the removal of approximately 650 million SHIB to dead addresses, highlighting the community’s active role in influencing market dynamics during a time when many other digital assets are facing steep declines in a period often described as a “crypto bloodbath.”
Despite this large volume of tokens being burned, the 657 million SHIB only represents a small fraction of the cryptocurrency’s initial one quadrillion token supply.
However, this recent activity marks one of the most significant burn rates observed in recent weeks.
At the time of reporting, the value of SHIB had dropped by 5.84% over the last day to $0.0000227, reflecting the broader downturn in the cryptocurrency market.
According to data from IntoTheBlock, Shiba Inu is struggling to maintain its position within a critical trading range of 51 trillion SHIB, valued between $0.000022 and $0.000025.
This range is crucial as it is supported by 57,520 addresses holding 51.27 trillion SHIB at an average purchase price of $0.000023.
If this range can be reclaimed, the next resistance could occur between $0.000025 and $0.000030, while a drop below might find support within the $0.000019 to $0.000022 range.
Furthermore, the Shiba Inu community has been alerted to the rise of several fraudulent groups on Telegram.
These impostors mimic legitimate channels, offering deceptive incentives such as exclusive content, giveaways, and investment opportunities, or they may pose as helpers resolving transaction issues.
The Shibarmy scam alerts handle has issued a critical warning advising holders of SHIB to confirm the authenticity of any channel, avoid suspicious links, and refrain from sharing personal wallet information publicly.
Community members are encouraged to remain cautious, verify all communications, and avoid making hasty decisions based on unverified information.
This proactive stance is crucial to safeguarding against potential scams and maintaining security within the Shiba Inu community.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
In the last 24 hours, the cryptocurrency market, including Solana, has witnessed a significant decline. Solana’s open interest (OI) dropped to $1.62 billion, marking a 21% decrease from the previous day.
CoinGlass data reflects this slump in OI, which represents the total unsettled value of all Solana futures contracts across exchanges.
Concurrently, Solana’s price decreased by 11% to $136.54, according to CoinMarketCap.
This downturn resulted in the liquidation of $36.55 million in long positions for traders, dampening the optimism of those who anticipated a price surge prior to the Bitcoin halving scheduled for April 20.
Similarly, other major cryptocurrencies also faced declines, with XRP, Dogecoin, and Cardano dropping 12.12%, 10.86%, and 10.20% respectively.
Despite the market’s current state, the sentiment among traders remains somewhat positive.
A notable trader, GCR Classic, after a long period of silence, resurfaced on social media platform X on April 14, advising his 273,500 followers that the downturn poses “a good opportunity to scale into high conviction tokens.”
READ MORE: XRP Shows Signs of Recovery Ahead of Bitcoin Halving, Poised for Bullish Reversal in 2024
Moreover, on April 13, crypto entrepreneur Kyle Chasse optimistically predicted on X that altcoins might increase by 20-30% by the following Monday.
However, Glassnode, an on-chain analysis firm, presented a more cautious perspective.
In an April 12 post, Glassnode pointed out that current Bitcoin drawdowns are less severe compared to those in past ‘euphoria phases’, where retracements often surpassed 25%.
Additionally, the Solana network has been experiencing operational challenges.
Reports on April 9 highlighted intermittent congestion which led several projects to delay their launches.
Solana developers have acknowledged these issues and are aiming to implement a fix by April 15.
As for network reliability, users have reported ongoing problems with congestion and transaction errors over recent weeks, prompting new projects, particularly those planning token launches, to postpone their initiatives until the technical issues are resolved.
These combined factors contribute to a cautious yet hopeful outlook among cryptocurrency traders and participants.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Doctor Doge (DRDOGE) is an exciting new memecoin that is set to challenge other dog-themed memecoins, including Shiba Inu (SHIB) and Dogecoin (DOGE).
Doctor Doge (DRDOGE) has rallied 1,350% in the last 24 hours, reaching $0.0000491, as it begins its journey to eventually challenge the likes of Shiba Inu (SHIB) and Dogecoin (DOGE).
DRDOGE, a Solana memecoin, began trading on Raydium and Jupiter on 15 April, and its market cap is currently only around the $220,000 mark despite the huge gains it has already posted.
This means that Doctor Doge has massive potential to grow further, with it targeting a $5 million market cap before the end of April.
When this happens, investors who buy tokens at the current price will generate a 2,300% return on their investment.
For example, if an investor buys $500 of Doctor Doge at the current price, their coins would be worth $11,500.
Furthermore, DRDOGE (contract address: 8uckaPYZWDs57Lm5eeEVnx4FGJDLhXuvrmryzKj7yUvv) is poised to continue to aggressively rally even once a $5 million market cap is reached, as it looks to become as mainstream as Shiba Inu (SHIB) and Dogecoin (DOGE).
If this happens, early DRDOGE investors could turn hundreds or thousands of dollars into millions.
DRDOGE’s recent rally comes ahead of the first-ever listing on a centralized exchange for this coin – which is likely to cause its price to skyrocket once the listing is publicly announced.
This is because the listing will make it easier for millions of additional crypto investors to buy Doctor Doge, and lead to massive inflows into the coin.
Amid DRDOGE’s rally, most altcoins have dropped in value due to mounting tensions between Israel and Iran.
Doctor Doge (DRDOGE) is an exciting new memecoin that is set to challenge other dog-themed memecoins, including Shiba Inu (SHIB) and Dogecoin (DOGE).
Doctor Doge (DRDOGE) has rallied 1,350% in the last 24 hours, reaching $0.0000491, as it begins its journey to eventually challenge the likes of Shiba Inu (SHIB) and Dogecoin (DOGE).
DRDOGE, a Solana memecoin, began trading on Raydium and Jupiter on 15 April, and its market cap is currently only around the $220,000 mark despite the huge gains it has already posted.
This means that Doctor Doge has massive potential to grow further, with it targeting a $5 million market cap before the end of April.
When this happens, investors who buy tokens at the current price will generate a 2,300% return on their investment.
For example, if an investor buys $500 of Doctor Doge at the current price, their coins would be worth $11,500.
Furthermore, DRDOGE (contract address: 8uckaPYZWDs57Lm5eeEVnx4FGJDLhXuvrmryzKj7yUvv) is poised to continue to aggressively rally even once a $5 million market cap is reached, as it looks to become as mainstream as Shiba Inu (SHIB) and Dogecoin (DOGE).
If this happens, early DRDOGE investors could turn hundreds or thousands of dollars into millions.
DRDOGE’s recent rally comes ahead of the first-ever listing on a centralized exchange for this coin – which is likely to cause its price to skyrocket once the listing is publicly announced.
This is because the listing will make it easier for millions of additional crypto investors to buy Doctor Doge, and lead to massive inflows into the coin.
Amid DRDOGE’s rally, most altcoins have dropped in value due to mounting tensions between Israel and Iran.
People who invested into Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) while these coins had small market caps were able to turn hundreds of dollars into millions.
Doctor Doge (DRDOGE), a newly launched Solana memecoin, is set to go viral and challenge other popular dog-themed coins, like Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK).
DRDOGE was launched this morning, and the memecoin is inspired by Dogecoin – one of the largest memecoins, with its market cap currently being $23.5 billion.
Due to the fact that Doctor Doge only began trading on decentralized Solana exchanges like Raydium and Jupiter around an hour ago, it has a market cap of just around $16,000.
This means that DRDOGE (contract address: 8uckaPYZWDs57Lm5eeEVnx4FGJDLhXuvrmryzKj7yUvv) has the potential to turn early investors into millionaires if its market cap eventually exceeds the $100 million mark.
In the short term, DRDOGE is set to rally over 8,000% in the next 48 hours, before then targeting further gains.
Additionally, numerous listings on centralized exchanges are planned for Doctor Doge later in April, and these listings could easily propel the memecoin’s market cap to above $20 million.
So it’s not surprising that many investors who bought SHIB, BONK and DOGE early are also investing into DRDOGE in the first hours and days of it being launched.
It will be exciting to watch how quickly Doctor Doge’s price will surge in the coming days and weeks, and to see if it can become a mainstream memecoin.
People who invested into Shiba Inu (SHIB) and Dogecoin (DOGE) while these coins had small market caps were able to turn hundreds of dollars into millions.
Doctor Doge (DRDOGE), a newly launched Solana memecoin, is set to go viral and challenge other popular dog-themed coins, like Shiba Inu (SHIB) and Dogecoin (DOGE).
DRDOGE was launched this morning, and the memecoin is inspired by Dogecoin – one of the largest memecoins, with its market cap currently being $23.5 billion.
Due to the fact that Doctor Doge only began trading on decentralized Solana exchanges like Raydium and Jupiter around an hour ago, it has a market cap of just around $16,000.
This means that DRDOGE (contract address: 8uckaPYZWDs57Lm5eeEVnx4FGJDLhXuvrmryzKj7yUvv) has the potential to turn early investors into millionaires if its market cap eventually exceeds the $100 million mark.
In the short term, DRDOGE is set to rally over 8,000% in the next 48 hours, before then targeting further gains.
Additionally, numerous listings on centralized exchanges are planned for Doctor Doge later in April, and these listings could easily propel the memecoin’s market cap to above $20 million.
So it’s not surprising that many investors who bought SHIB and DOGE early are also investing into DRDOGE in the first hours and days of it being launched.
It will be exciting to watch how quickly Doctor Doge’s price will surge in the coming days and weeks, and to see if it can become a mainstream memecoin.
The U.S. Securities and Exchange Commission (SEC) is facing criticism for its recent enforcement actions against the decentralized crypto exchange Uniswap, which seem to deviate from its own historical guidelines.
Adam Cochran of Cinneamhain Ventures has pointed out these inconsistencies, drawing from multiple precedents in SEC’s own archives.
Historically, the SEC has issued “No-Action Letters” indicating a more flexible interpretation of what constitutes an exchange.
Notable instances include 1986, 1991, and 1997 when entities seeking to establish electronic systems for routing and matching trades were not classified as exchanges.
“But the SEC concluded that because the execution was on a separate system that matching, routing, communicating and ordering as a ‘computer service system’ did not meet the holistic definition of ‘an exchange,'” Cochran explained, referencing the SEC’s past decisions.
Further, Cochran highlighted instances in 1989 and 1990 when the SEC differentiated front-end interfaces from exchanges.
“The SEC guidance found that because these interfaces, even though they profited from bringing together buyers and sellers to exchange explicit securities the fact that the settlement and payment happened elsewhere meant these interfaces were not exchanges,” Cochran elaborated.
In 1998, the SEC appeared to settle this issue definitively in its No-Action Letter LEXIS 18 by deciding it would no longer entertain requests for such clarifications.
Cochran’s review also included guidance from 1979, 1996, and 1999 which asserted that merely connecting buyers and sellers does not an exchange make, emphasizing that “The exchange needed to involve the legal transfer of the assets and/or finances.
So even though a buyer on Uniswap may commit to a purchase, by signing a transaction with their private key the Uniswap Labs frontend, isn’t what’s settling it.”
Additionally, Cochran mentioned a 1998 SEC finding that an electronic system serving as a primary listing location for unlisted common stocks does not qualify as an exchange if it does not clear and settle transactions.
“In this case, the commission found that once again, so long as their informational interface was no clearing and settling these transactions, then just because it was the primary listing location of an asset, it was not somehow more of an exchange.”
Despite this backdrop, Uniswap Labs has been under the SEC’s lens since 2021, culminating in a Wells notice on April 10, indicating potential enforcement.
Uniswap Labs has defended its position by asserting that it merely developed the front-end portal of the app, distinct from the Uniswap protocol—a self-executing code made public.
Cochran supports this view, clarifying, “In fact, we know these elements are distinct, because you can execute trades on the smart contract through other interfaces (like Etherscan or swap aggregators), or even directly through a node.”
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Bitcoin has reached a significant milestone, achieving its highest level of market cap dominance in three years.
This surge has occurred amidst a downturn for altcoins, which have experienced notable price declines.
According to data from Cointelegraph Markets Pro and TradingView, as of April 12, Bitcoin’s share of the total cryptocurrency market capitalization spiked to 56.3%.
This increase marks a shift in market dynamics, emphasizing Bitcoin’s growing influence compared to other cryptocurrencies.
The price of Bitcoin itself faced challenges as the weekend approached, with a drop below $65,300 due to a series of liquidations.
However, altcoins were hit harder, with many of the top twenty cryptocurrencies by market cap experiencing declines exceeding 15%.
This decline in altcoin values has resulted in a significant shift in market share towards Bitcoin.
The cryptocurrency landscape now appears more “Bitcoin-heavy” than it has been since April 2021, underscoring a reversal in the broader market’s composition.
Social media commentator and trader Bagsy noted the significance of this trend on the platform X, stating, “I don’t typically look at Bitcoin dominance, but the chart is impressive considering the amount of new altcoins birthed into the market every day.”
The sentiment was echoed by Daan Crypto Trades, another trader who pointed out the comparative resilience of Bitcoin during this period.
“Yes, the actual hit on $BTC was very minimal and the total downside also wasn’t very relevant,” he commented on X.
READ MORE: XRP Shows Signs of Recovery Ahead of Bitcoin Halving, Poised for Bullish Reversal in 2024
He further highlighted the severe impact on altcoins, noting, “The real damage was done in the Altcoin sector which wiped out billions of Open Interest and made for wicks up to 50%.”
Historically, Bitcoin bull markets are characterized by an initial dominance breakout, followed by a catch-up phase for altcoins after a period of Bitcoin price stabilization.
This pattern has not yet been observed in 2024 for altcoins, which have performed well but haven’t sustained a rally.
Looking ahead, trader Mikybull Crypto predicts a shift in the current dynamics. In a post on X, he suggested, “Altcoins market cap is perfectly following the previous Alts season step.
This is the last shake-off before it rips explosively upward coupled with Bitcoin dominance downward trend.”
These observations are supported by a chart shared by Mikybull Crypto, which draws parallels between the current market situation and the late 2020 period when Bitcoin last broke out of its macro trading range below $20,000.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.