Bitcoin dropped to $62,400 today and is currently hovering around $63,000, despite attempts to rebound from midweek trading.📉

Alternative cryptocurrencies are doing no better either, with most of the market turning red today. Total cryptocurrency market value dropped by $150 billion in two days.

Bitcoin's price movements before and after the fourth halving were quite dull. It recovered somewhat after the Iran-Israeli attacks and stood above $65,000 when block rewards were reduced.

However, as ETF outflows increased, Bitcoin began losing value and fell to $62,400 today.

Bitcoin is still struggling to regain $63,000. Its market cap has fallen to $1.240 trillion on CoinGecko, while its dominance over altcoins is still below 51%.

Alternative coins are also in bad shape today. The biggest decrease came from Solana. The token dropped more than 5% in a day and is now struggling below $140. Dogecoin (-3.5%), Cardano (-3.2%), Avalanche (-3.6%), Shiba Inu (-3.1%) and Polkadot (-2.75%) are also down.

ETH, BNB, XRP and TON are also in the red, but less severely. Tron's native token is one of the few altcoins in the green today, up 3%.

However, other low- and mid-cap altcoins have also suffered significant losses in the last day. Thus, the total cryptocurrency market capitalization fell by $50 billion overnight and $150 billion since Thursday, bringing it below $2.450 trillion in CG. 📊

A trader trading meme-themed tokens on the Solana blockchain made more than $22 million in profits. Blockchain analysis firm Lookonchain identified the actions of a trader identified as “paulo.sol” on April 26. The trader made profits on assets such as Dogwifhat (WIF), Jeo Boden (BODEN) and Bonk (BONK). The trader, who started his investment in BONK in November 2023, made a profit of approximately 6.28 million dollars from BONK by applying a strategy of buying at declines and selling at peaks. Realizing the potential of WIF and BODEN, the trader did not enter these tokens at the time of launch, but began to accumulate them during their upward movements. As a result, the trader made a profit of $9.51 million from WIF trades and $7.04 million from BODEN trades. In total, Solana raised approximately $22.83 million by flipping the based meme tokens. The trader expanded his meme coin portfolio by investing in additional tokens. It allocated $1.77 million to POPCAT and almost $6 million to PUPS, making it the largest holder of PUPS on the Solana blockchain. Community members applauded the trader's impressive moves in the crypto market. One user noted that the trader's success is not just luck, but an indication of his unwavering belief compared to others. Another user praised the trader for displaying "diamond" hands, which is used to describe traders who can maintain their positions even during difficult market conditions. This trader is among the many who have profited from the Solana meme coin craze. On April 3, another trader turned $13,000 into $2 million within an hour. In this case, they purchased 499.9 million MOEW for 4 Ether just 10 minutes after MOEW was listed on decentralized exchanges. An hour later, they sold 111.65 million MOEW for 99 ETH ($328,000) and were left with 388.24 million MOEW.

Pantera Capital aims to raise a fund of $ 1 billion for its new fund 'Panter Fund V'. This fund will offer investors exposure to a wide range of blockchain-based assets. 🌐💰

The new fund is expected to launch in April 2025, according to a new report by Bloomberg. Unlike previous funds, Pantera Fund V is designed as an all-encompassing product with more specific investment focuses such as Venture Funds, Bitcoin Fund, Early Stage Token Fund and Liquid Token Fund.

Qualified investors must allocate at least $1 million into this fund, with the first closing planned for April 1, 2025. Limited partners are expected to contribute at least $25 million to take part in the fund.

Pantera Capital also emerged as one of the successful bidders of discounted Solana tokens auctioned by administrators of the bankrupt FTX cryptocurrency exchange. Approximately 2,000 SOL tokens were sold this week, but this information has not yet been made public.

This successful fund will be the largest fund raised since the sector collapsed with scandals and bankruptcies in 2022. As the market recovers, Pantera's new fund is expected to reach the size of its last fund, which raised about $1.25 billion two years ago.

Strike CEO Jack Mallers stated that Bitcoin could go up to $1 million. Mallers stated that it would be necessary to print money to save the US bond market, which would increase all asset prices. 📈💰

Mallers said the U.S. government and the Federal Reserve have two options: Either let the banking system fail or print money to fix the situation. Mallers claimed that the entire banking system was "bankrupt".

In March 2023, institutions like Silicon Valley Bank experienced a run on withdrawals and collapsed after it was revealed that it had made huge losses on its long-term bonds, which had fallen in value after the Federal Reserve raised interest rates a year earlier.

Mallers argued that central banks and the government will try to save this market. He noted that the liquidity needed for the rescue could be the equivalent of “two or three Covids,” which would increase asset prices as a by-product.

On how Bitcoin will reach a $1 million value, Mallers said, "I think I have a dream of $250,000 to $1,000,000, about how big Bitcoin could be."

A new Crypto.com commercial starring famous rapper Eminem will debut during the NBA playoffs this weekend. The commercial begins with a bird's-eye view of the Crypto.com Arena, with Eminem narrating the story as an MMA fighter prepares for a UFC fight and steps into the ring wearing a Crypto.com jersey. The ad will air for the first time during the playoff game between the Los Angeles Lakers and Denver Nuggets. It will also be featured at the Formula 1 Crypto.com Miami Grand Prix and UFC Fight Night events next month. Eminem previously launched his own NFT collection, purchasing a popular “Bored Ape Yachy Club” (BAYC) NFT for $462,000 in 2021. 🏀🎤

Bitcoin whales have started to realize their profits from the recent rally. According to crypto analyst Phi Deltalytics, whale inflows make up a significant portion of overall flows into exchanges. 🐳💰

On April 25, analyst Woominkyu noted that unrealized profits of long-term Bitcoin whales are rising, especially with BTC hovering above $60,000. However, he warned that profits would impact the market if realized. 📈⚠️

Additionally, long-term holders of digital assets also tend to cash out. Woominkyu stated that long-term holders' Spent Output Profit Ratio (SOPR) exceeds that of short-term holders. This shows that long-term investors are profiting by taking advantage of price increases.

Currently, BTC is consolidating between $60,000 and $70,000 and if it rises to $70,000 and is rejected there, it could experience a major decline. Investors should be wary of possible price corrections and increased volatility as the SOPR is currently high.

Shiba Inu's layer-2 scaling solution, Shibarium, will receive a significant update on May 2. This update, which aims to improve the user experience and streamline transaction fees, aims to increase the security of the platform. Details will be shared closer to the launch date. Shibarium is expected to become more useful and secure. It is also expected to increase the efficiency of the combustion mechanism, which has recently made significant progress. 🚀🔒

The Shiba Inu team also announced Shibarium's main agenda for the next two years. The development of DeFi platform ShibaSwap and the Shiba Hub application were first on the list. Also noted was the upcoming launch of TREAT token, the governance coin of the layer-3 blockchain, and increased focus on K9 Finance, the liquid staking derivatives platform for the Shibarium network.

Polkadot is experiencing a prolonged corrective consolidation around the critical $6.5 support level. However, the short-term expectation is that this corrective consolidation phase will continue. 📉

Daily chart analysis shows that the price is exhibiting a slight bullish correction while a rapid recovery near the critical $6.5 support level is evident. This creates important reference points for future market movement. 📊

A closer look at the four-hour time frame shows bullish correction pullbacks towards the critical resistance zone of the 0.5 ($7.4) and 0.618 ($7.8) Fibonacci levels. However, Polkadot price was recently rejected from the 0.5 Fib level and declined.

With Polkadot's recent downtrend, the Open Interest metric appears to be reflecting this trend and experiencing a significant decline. This indicates a decrease in activity in the futures market.

Source: CryptoPotato

"Rich Dad Poor Dad" author Robert Kiyosaki made it clear that the American economy was in a depression. Kiyosaki stated that the economy grew by 3.4% in the last quarter of 2023, but only 1.6% in the first quarter of 2024.

Kiyosaki is a strong supporter of the Bitcoin ecosystem and has advised his followers to reduce their exposure to fiat currencies. The popular financial guru predicted that BTC could reach $300,000 by the end of 2024.

Kiyosaki stated that Bitcoin is superior to traditional assets such as gold, silver and oil. He emphasized that Bitcoin has a fixed supply (21 million BTC), highlighting its advantage in terms of scarcity and potential long-term value. 📉💰

Bitcoin price has been fluctuating between $64,000-$67,000 in recent days, with some analysts pointing to bearish trends and suggesting that the cryptocurrency has reached its cycle top. 📉

Ali Martinez, one of the prominent analysts, stated that he saw two sell signals on Bitcoin's 12-hour chart. Martinez believes that a further decline below $63,300 could trigger a drop in the price to $61,000 or even a two-month low of $59,000. 😰

Among those who believe that the value of Bitcoin is on the verge of decline is American stockbroker Peter Schiff. Schiff noted that Bitcoin's current situation does not look good for HODLers and identified the $60,000 level as a key resistance zone.

Schiff predicted a pessimistic future for Bitcoin last year. However, Bitcoin has gained 40% since the regulator gave its approval in January, when the asset's price was around $46,000.

This week we take a closer look at Ethereum, Ripple, Cardano, Shiba Inu and Polkadot.

Ethereum (ETH)

Ethereum's downtrend seems to be coming to an end because the price decided to move sideways above the main support. That's why ETH closed the week with a 2% price increase.

Ripple (XRP)

Earlier this month, XRP failed to hold above 53 cents and fell as low as 43 cents, which currently acts as major support. However, XRP bounced at this level and closed the week with a 6% price increase.

Cardano (ADA)

ADA found good support at 46 cents and ended the week with a 2.6% price increase. As long as the major support holds, buyers can aim to control the price action.

Shiba Inu (SHIB)

The Shiba Inu is the best performer on our list, ending the week with a 14% price increase. This is an impressive recovery considering the price made new local lows a week ago.

Polkadot (DOT)

DOT's price action is similar to Cardano and it found good support above $6.7. Therefore, the price closed the week with a 1.8% price increase.

Cryptocurrency Price Analysis 26-April: ETH, XRP, ADA, SHIB and DOT.

The legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) reached the stage of responding to SEC moves in early May, when Judge Sarah Netburn issued a new scheduling order. 🏛️

Attorney Jeremy Hogan predicts the case could end this summer and the company could potentially face a $100 million settlement. 💰

Previously, the SEC had sought a $2 billion penalty against the company, alleging certain XRP sales violations. Ripple, on the other hand, argued that its native cryptocurrency should not be classified as a security and therefore should not fall under the agency's jurisdiction.

Stuart Alderoty, Ripple's general counsel, offered several key reasons why the fine should not be more than $10 million.

Despite increased outflows from US spot Bitcoin ETFs, the cryptocurrency's price has remained relatively stable at just above $64,000.

Altcoins are much less volatile today, with SHIB gaining around 3% while NEAR pumped as much as 7% to well above $7.

Bitcoin has experienced increased volatility over the past week due to rising geopolitical tensions between Iran and Israel. The biggest declines came last Friday, when the price dropped well below $60,000.

After this tension ended, at least in theory, the asset gained over $5,000 and stalled at around $65,000 once the fourth halving was completed. The following few days were quite positive, with small but sequential gains pushing BTC to a local top of just above $67,000.

However, the primary digital asset failed at that point and was downgraded sharply yesterday. The bears drove BTC below $63,000 but later managed to climb above $65,000.

It has not been able to continue its run since then but is still above $64,000, although ETF outflows continued for the second day in a row.

Its market cap is about $30 billion away from CG's $1.3 trillion valuation, while its dominance over altcoins is just under 51%.

Most altcoins remained relatively stable on a daily scale, with ETH, SOL, TON, ADA, and BCH slightly in the red, while BNB, XRP, DOGE, and AVAX posted insignificant gains.

Tron and Shiba Inu added more value over the same time period, with an increase of around 2.5-3%.

NEAR Protocol's native token is one of the top 50 best performing altcoins today. NEAR is up almost 7% and is now above $7.2.

Total cryptocurrency market capitalization has increased slightly since yesterday but is still just under CG's $2.5 trillion.

Shibarium, Shiba Inu's L2 scaling solution, is planning significant improvements. These include the development of DeFi platform ShibaSwap and the launch of the TREAT governance token. Additionally, work will be done on K9 Finance, a liquid staking derivatives platform for the Shibarium network. 🚀

Shibarium, which recently experienced a short-term network outage, recovered quickly. It also introduced a new UI update that improves compatibility with popular self-custody wallets. 🔄

If you would like to learn how Shibarium aims to promote the development of the Shiba Inu ecosystem and its main goals, watch our video below.

Jabara Igbara, a self-proclaimed crypto millionaire known as "Jay Mazini" on Instagram, was sentenced to seven years in prison by U.S. District Judge Frederic Block.

Igbara must also leave 10 million dollars to the property of the state due to fraud and money laundering crimes.

U.S. Attorney Breon Peace stated that Igbara used his social media popularity to defraud investors of millions of dollars. It was stated that Igbara targeted his religious community and used their trust to spend and gamble the money they earned.

From 2019 to 2021, Igbara created a profile on Instagram known as "Jay Mazini" and gained nearly one million followers. He presented himself as a successful investor and entrepreneur and shared content related to his Muslim faith.

Igbara, through a company called Halal Capital LLC, orchestrated an investment scam targeting the Muslim-American community in New York. He asked them to invest in stocks, electronic resale and personal protective equipment sales. But in reality, Igbara used almost all the funds for personal expenses, luxury vehicles and gambling.

Igbara began a second fraud scheme to maintain the illusion of profitability and retain investors. He declared on Instagram and other social media platforms that he would pay prices above the market price for various cryptocurrencies.

After receiving cryptocurrency from his victims, Igbara created wire confirmations that misleadingly showed that he had sent money for cryptocurrency as promised. But in reality, no payment was made and Igbara simply pocketed the cryptocurrency sent from his victims.

BitcoinOS has published its white paper for "BitSNARK and Grail", a product of BitVM, a Bitcoin-based computing paradigm, and a system that reliably connects Bitcoin to layer 2 rollups and blockchains. BitSNARK extends BitVM using a software library optimized for this specific purpose. This offers a solution to Bitcoin's trilemma of scale, computational expressiveness, and decentralization. The new system creates SNARK proofs for Bitcoin and rollup transactions and allows secure asset transfers between L1 and L2 rollups. This means that the BitcoinOS team is currently aiming to design a bridge with over 100 operators. 🚀🔗

Binance founder and former CEO Changpeng Zhao (CZ) publicly apologized for "wrong decisions" and took "full responsibility" for his actions. 🙏

At the same time, Binance partner He Yi admitted that CZ may have made mistakes, but stated that his biggest mistake was ignorance. 🤔

Following resolution of the charges with the U.S. Department of Justice (DOJ) in November 2023, CZ is scheduled for sentencing on April 30. The DOJ requested a 36-month sentence even though CZ had previously waived his right to appeal any sentence of up to 18 months.

CZ acknowledged the need to implement earlier compliance changes at Binance and emphasized the implementation of strict controls throughout his tenure.

The Binance partner demanded a second chance and described a simple and honest career path that included returning investor funds after failed startup ventures.

Admitting that Binance and CZ are carrying the results, He Yi described CZ as the guardian of the cryptocurrency industry.

Notably, Binance last year settled US charges for money laundering and sanctions violations, which brought $4.3 billion in fines and scrutiny from authorities.

Crypto industry experts believe Ethereum (ETH) spot ETFs will not receive approval for public trading by regulators next month. 📉

A rejection would leave the digital currency well behind Bitcoin (BTC) in terms of adoption by Wall Street, making it likely that US investors would not be able to acquire such a product until December 2024 at the earliest.

According to Reuters, the few meetings between the Securities and Exchange Commission (SEC) and Ethereum ETF issuers have been one-sided. Agency staff did not discuss detailed information about the proposed products until less than a month before the deadline for applications submitted by VanECK and ARK.

However, ETF issuers' arguments in favor of approval revolve around the listing of Ethereum futures ETFs in October, establishing a premise that ETH-based investment products are safe enough for public markets. 📈

The SEC chairman has been openly critical of crypto in a personal capacity, claiming that it has few unique use cases outside of illicit financial activities and is essentially centralized.

According to Bitwise Chief Investment Officer (CIO) Matt Hougan, the SEC may justify its Ethereum ETF rejection by stating that it had little time to review the product. "I think the reason mechanical is being pushed is because they just want to see more data."

Ethereum price experienced a slight decline towards the 100-day moving average as a result of increased selling activity. Currently, Ethereum price is testing a critical support level at $3086, the 100-day moving average, which typically attracts significant demand and could limit further downward pressure from sellers. However, given the current market sentiment and recent price movements, Ethereum appears to lack sufficient momentum and buying activity, increasing the likelihood of a new downtrend in the short term. 📉🔍

On the other hand, the 4-hour chart shows that after a period of sideways consolidation near the lower boundary of the wedge pattern, the price experienced significant buying pressure, leading to a bullish reversal. However, sellers regained control and halted the upward momentum, marking a distinct bearish sign for the market. Still, despite the prevailing bearish trend, Ethereum's price is expected to remain in the critical range between the $2.8 support and the critical resistance at $3.3 until a breakout occurs.

There is a worrying downtrend that indicates that Ethereum's downtrend may continue for the coming weeks. However, if this situation continues, Ethereum's bear trend may continue in the medium term.

According to recent analysis, a potential increase in the price of XRP is expected. According to predictions, the price of XRP could be between $1.20 - $1.80 by mid-year and go up to $4 in September. 📈🚀

The ongoing litigation between Ripple and the SEC questions XRP's classification as a security, which could significantly impact the value of the asset. Positive developments may trigger a market rally.

Over the last few months, Ripple's XRP has gone through some serious turbulence. Its price rose 6% on a weekly scale but fell 20% over the 30-day period and is currently hovering around $0.52.

However, the community generally takes an optimistic view that a recovery is in the cards. Crypto analyst EGRAG CRYPTO offered two potential paths the asset's price could follow in the coming months.

The outcome of the lawsuit between Ripple and the US SEC could trigger an XRP bull run. This scenario could trigger a rally for XRP and positively impact the entire cryptocurrency market.