Slovenia is planning to take a bigger bite out of crypto profits. After imposing a 10% tax on crypto withdrawals in 2023, the country’s Finance Ministry has now suggested a new law to add a 25% tax on crypto trading gains. If the bill gets passed, the law will begin on January 1, 2026. Some …
Bitcoin appears to be entering a period of consolidation following a brief burst of upward momentum earlier this week. After reaching nearly $86,000, the cryptocurrency has retraced slightly and is trading around $84,650 at the time of writing. Despite the pullback, analysts continue to monitor on-chain data to assess whether renewed buying pressure could support a more sustained recovery. One of those analysts, CryptoQuant contributor Avocado Onchain, recently shared his insights in a post titled “Coinbase Premium Signals Signs of Recovery Amid Market Turmoil, While Korea Premium Index Remains Lagging.” Avocado noted that escalating trade tensions between the US and China have added volatility to global markets, including Bitcoin. As gold rallies in response to the risk-off environment, Bitcoin has managed to hold above a critical support level after undergoing a more than 30% correction. Related Reading: Bitcoin Sentiment Still Close To Extreme Fear—Green Sign For Recovery? Bitcoin Coinbase Premium Tightens While Korea Lags According to Avocado, the Coinbase Premium, which measures the price difference between Bitcoin on Coinbase and other major exchanges, has begun to show a constructive pattern. The analyst wrote: Since the beginning of the prolonged correction in March 2024, the Coinbase Premium has displayed a pattern of compressing highs and lows. This was followed by a sharp rise in buying activity on Coinbase, causing the premium to spike and Bitcoin’s price to surge. Currently, the premium is once again narrowing into a triangle pattern of lower highs and higher lows. Avocado interprets this as a potential precursor to renewed upside momentum in the market, similar to past cycles. “This pattern suggests that institutional and US-based demand is recovering, even as overall market conditions remain unstable,” he added. In contrast, the Korea Premium Index, which tracks the price spread between Korean exchanges and global averages, has shown a weaker profile. Avocado explained that this index trended lower throughout 2024 and only began to rise after Bitcoin had already started to rally, indicating delayed participation from Korean retail investors. This divergence between the two metrics highlights a shift in regional market leadership, with US investors currently taking a more proactive role. Highlighting the Role of Regional Indicators in Market Recovery In his analysis, Avocado concluded that although macroeconomic uncertainty continues to influence short-term movements, indicators like the Coinbase Premium are showing signs of healthy demand. He pointed to the ongoing formation of a support base near $84,000 as a positive development in market structure. Related Reading: Bitcoin Faces Pressure As Report Flags Chinese Sell-Off Plans “Although overall market conditions remain unstable, the upward trend in the Coinbase Premium’s lows indicates healthy demand,” he noted. “This bodes well for a potentially strong mid- to long-term recovery in Bitcoin’s price trajectory.” Featured image created with DALL-E, Chart from TradingView
The bill now awaits a third reading and a full floor vote before reaching the governor's desk for final approval.
Crypto research firm Galaxy Research has made a proposal to adjust the voting system that decides the outcome of future Solana inflation following the failure to come to a consensus in a previous vote.On April 17, Galaxy introduced a Solana proposal called “Multiple Election Stake-Weight Aggregation” (MESA) to reduce the inflation rate of its native token, SOL (SOL). The researchers described the proposal as a “more market-based approach to agreeing on the rate of future SOL emissions.”Rather than using traditional yes/no voting for inflation rates, MESA allows validators to vote on multiple deflation rates and uses the weighted average as the outcome.“Instead of cycling through inflation reduction proposals until one passes, what if validators could allocate their votes to one or many changes, with the aggregate of ‘yes’ outcomes becoming the adopted emissions curve?” Galaxy explained. The motivation for the concept comes from a previous proposal (SIMD-228), which showed community agreement that SOL inflation should be reduced, but the binary voting system couldn’t find consensus on specific parameters. SIMD-228 proposed to change Solana’s inflation system from a fixed schedule to a dynamic, market-based model. The new proposal suggests maintaining the fixed, terminal inflation rate at 1.5% and sets forth multiple outcomes that create multiple ‘yes’ voting options with different deflation rates from which an average is aggregated if a quorum is reached. For example, if 5% vote for no change, remaining at 15% deflation, 50% vote for a 30% deflation rate, and 45% vote for 33%, the new deflation rate would be calculated as the aggregate at 30.6%. The target is to reach the terminal rate of 1.5% supply inflation. Predicted inflation curves under new voting proposal. Source: Galaxy Digital Solving problems with binary voting The benefits are that a more market-driven system allows validators to express preferences along a spectrum rather than with binary choices, while maintaining predictability with a fixed inflation curve.“Galaxy Research seeks to suggest a genuinely alternative process to achieving what we believe is the community’s broad goal, and not necessarily proscribe any particular inflation rate outcome,” the firm explained. Related: Solana upgrades will strengthen network but squeeze validators — VanEckUnder the current mechanism, supply inflation begins at 8% annually, decreasing by 15% per year until it reaches 1.5%. Solana’s current inflation rate is 4.6%, and 64.7% of the total supply, or 387 million SOL, is currently staked, according to Solana Compass. Galaxy affiliate Galaxy Strategic Opportunities provides staking and validation services for Solana.Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research
XRP price started a fresh decline below the $2.120 zone. The price is now consolidating above $2.00 and remains at risk of more losses below $2.00. XRP price started a fresh decline below the $2.150 zone. The price is now trading below $2.120 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.10 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might extend losses if there is a close below the $2.00 support zone. XRP Price Dips Again XRP price started another decline below the $2.20 zone, like Bitcoin and Ethereum. The price traded below the $2.150 and $2.120 levels to enter a bearish zone. The price even spiked below $2.050 before the bulls appeared. A low was formed at $2.036 and the price is now consolidating losses. There was a minor increase above the $2.10 level. However, the bears were active near the 50% Fib retracement level of the downward move from the $2.184 swing high to the $2.036 low. The price is now trading below $2.10 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.10 level. There is also a key bearish trend line forming with resistance at $2.10 on the hourly chart of the XRP/USD pair. The first major resistance is near the $2.1280 level and the 61.8% Fib retracement level of the downward move from the $2.184 swing high to the $2.036 low. The next resistance is $2.1850. A clear move above the $2.1850 resistance might send the price toward the $2.250 resistance. Any more gains might send the price toward the $2.320 resistance or even $2.350 in the near term. The next major hurdle for the bulls might be $2.50. More Losses? If XRP fails to clear the $2.10 resistance zone, it could start another decline. Initial support on the downside is near the $2.040 level. The next major support is near the $2.00 level. If there is a downside break and a close below the $2.00 level, the price might continue to decline toward the $1.920 support. The next major support sits near the $1.840 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.040 and $2.00. Major Resistance Levels – $2.10 and $2.1850.
Ethereum price started a fresh decline below the $1,620 zone. ETH is now consolidating and might attempt to recover above the $1,620 resistance. Ethereum started a fresh decline below the $1,620 and $1,600 levels. The price is trading below $1,620 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $1,590 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,615 resistance zone. Ethereum Price Faces Hurdles Ethereum price struggled to continue higher above $1,690 and started a fresh decline, like Bitcoin. ETH declined below the $1,600 and $1,580 support levels. It even spiked below $1,550. A low was formed at $1,538 and the price is now attempting a recovery wave. There was a move above the $1,580 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $1,690 swing high to the $1,538 low. Besides, there was a break above a connecting bearish trend line with resistance at $1,590 on the hourly chart of ETH/USD. Ethereum price is now trading below $1,620 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $1,600 level. The next key resistance is near the $1,615 level or the 50% Fib retracement level of the downward move from the $1,690 swing high to the $1,538 low. The first major resistance is near the $1,655 level. A clear move above the $1,655 resistance might send the price toward the $1,700 resistance. An upside break above the $1,700 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $1,750 resistance zone or even $1,800 in the near term. Another Drop In ETH? If Ethereum fails to clear the $1,615 resistance, it could start another decline. Initial support on the downside is near the $1,5750 level. The first major support sits near the $1,540 zone. A clear move below the $1,540 support might push the price toward the $1,480 support. Any more losses might send the price toward the $1,420 support level in the near term. The next key support sits at $1,400. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $1,540 Major Resistance Level – $1,655
One of Arizona’s crypto reserve bills has been passed by the House and is now one successful vote away from heading to the governor’s desk for official approval.Arizona's Strategic Digital Assets Reserve Bill (SB 1373) was approved on April 17 by the House Committee of the Whole, which involves 60 House members weighing in on the bill before a third and final reading and a full floor vote.Source: Bitcoin LawsSB 1373 seeks to establish a Digital Assets Strategic Reserve Fund made up of digital assets seized through criminal proceedings to be managed by the state’s treasurer. Arizona’s treasurer would be permitted to invest up to 10% of the fund’s total monies in any fiscal year in digital assets. The treasurer would also be able to loan the fund’s assets in order to increase returns, provided it doesn’t increase financial risks.However, a Senate-approved SB 1373 may be set back by Arizona Governor Katie Hobbs, who recently pledged to veto all bills until the legislature passes a bill for disability funding.Hobbs also has a history of vetoing bills before the House and has vetoed 15 bills sent to her desk this week alone.Arizona is the new leader in the state Bitcoin reserve raceSB 1373 has been passing through Arizona’s legislature alongside the Arizona Strategic Bitcoin Reserve Act (SB 1025), which only includes Bitcoin (BTC).The bill proposes allowing Arizona’s treasury and state retirement system to invest up to 10% of the available funds into Bitcoin.SB 1025 also passed Arizona’s House Committee of the Whole on April 1 and is awaiting a full floor vote.Related: Binance helps countries with Bitcoin reserves, crypto policies, says CEORace to establish a Bitcoin reserve at the state level. Source: Bitcoin LawsUtah passed Bitcoin legislation on March 7 but scrapped the cornerstone provision establishing the Bitcoin reserve in the final reading.The Texas Senate passed a Bitcoin reserve bill on March 6, while a similar bill recently passed through New Hampshire’s House.Magazine: Crypto ‘more taboo than OnlyFans,’ says Violetta Zironi, who sold song for 1 BTC
Slovenia’s Finance Ministry is considering a possible 25% tax on crypto trading profits for residents in the country under a new draft law now open for public consultation. The bill proposes to tax traders when they sell their cryptocurrency for fiat or pay for goods and services, but crypto-to-crypto and transfers between wallets owned by the same user will be exempt, Slovenia’s Finance Ministry said in an April 17 statement.Under the proposed legislation, crypto tax will be aligned with existing tax laws. Slovenia taxpayers will be required to keep a record of all their transactions for annual tax returns. The tax base would be calculated on profits by subtracting the purchase price from the sale price. In a statement to the Slovenia Times, finance minister Klemen Boštjančič said it’s unreasonable that crypto trading for individuals isn’t currently taxed in the country. “The goal of taxation of crypto assets is not to generate tax revenue, but we find it illogical and unreasonable that one of the most speculative financial instruments is not taxed at all,” he said in a statement translated from Slovenian. New tax could stifle crypto in Slovenia, lawmaker says Jernej Vrtovec, a member of Slovenia’s national assembly and New Slovenia opposition party, slammed the proposal in an April 16 statement to X, arguing it could stifle crypto growth in the country. “Slovenia has the opportunity to become a crypto-friendly country, but with the government’s proposals, we will miss the train again,” he said in a post also translated from Slovenian. “With excessive taxation, we will once again see young people and capital fleeing abroad. Taxes should encourage, not stifle.” Source: Jernej VrtovecThe proposal is open to public consultation until May 5. If Slovenian lawmakers pass the bill, it will go into effect on Jan. 1, 2026. Slovenia introduced a 10% tax on crypto withdrawals and payments in 2023, but capital gains from occasional crypto trading are not taxed, according to the crypto tax platform Token Tax. Related: NFT trader faces prison for $13M tax fraud on CryptoPunk profitsCrypto activity can also currently be exempt from tax if it's considered a hobby. Business activity, such as mining or staking, is subject to income tax. A previous bill proposed in April 2022 planned to levy a 5% tax on profits over 10,000 euros ($11,372), but it was never passed into law. Slovenia issued the first digital sovereign bond in the European Union on July 25 last year. It had a nominal size of 30 million euros ($32.5 million) with a 3.65% coupon and a maturity date of Nov. 25 that year. The number of crypto users in Slovenia is projected to reach roughly 98,000 in 2025, according to online data platform Statista, with a penetration rate of 4.6% among its population of 2.12 million people. While the projected revenue for the country's crypto market is slated to hit $2.8 million. Magazine: How crypto laws are changing across the world in 2025
The Dogecoin weekly chart has slipped back into the same lull that characterised the first half of 2024, yet two independent technicians argue the lull is nothing more than a reset before a decisive push higher. Dogecoin to $1 By Summer’s End? On the one‑week time‑frame, analyst Chris (@StonkChris) plots an expanding rising channel that has been guiding price action since the October‑2023 low at $0.056. That structure has produced a sequence of higher highs—~$0.229 in March 2024 and ~$0.484 in December 2024—and higher lows around $0.077 (February 2024) and $0.08 (early August 2024). The latest pull‑back has just retested the channel’s lower rail at $0.13, where Chris notes that the weekly Stochastic‑RSI has begun to curl up from single‑digit territory and the Ichimoku cloud is turning supportive above $0.22. Related Reading: Dogecoin Price To Enter Phase E After Testing Last Point Of Support, Here’s The Target From that confluence he sketches a steep, almost parabolic trajectory that slashes through the cloud resistance in May, re‑tests the mid‑cloud span near $0.30 and accelerates toward the upper boundary of the channel—an area that will sit close to $1.00–$1.10 by late‑summer 2025. “DOGE to $1 by the end of the summer 2025 anyone?” he asked followers on X, leaving little doubt about his conviction that the secular up‑trend remains intact. A Higher High Is Needed The short‑term picture is less binary in the eyes of Olivier (@Dark64), who analyses Dogecoin on the daily chart. His canvas is dominated by two features: a descending regression channel (labelled “BLSR”) that has trapped price since the November peak at $0.484, and a large rounded accumulation base projected to end between 5 May 2025 and 29 June 2025. Key horizontal levels flank the pattern. Immediate support sits at $0.1533, the level price is presently hugging. Should that shelf give way, Dogecoin could revisit the lower line of the channel below $0.13. To the upside, Olivier marked $0.2175 the most crucial resistance where DOGE could break out of the descending channel and mark the first higher high in months. Related Reading: Dogecoin Follows The Blueprint: Analyst Highlights Perfect Technical Execution Meanwhile, the area around $0.229 could be a last line of defense for bears as this is the local high from March 2024. A break above this level would expose $0.3496—a key support in December last year until January this year. Ultimately, the December high at $0.4361, with the year‑to‑date high at $0.484 completing the measured‑move objective. Olivier’s trading logic is brutally simple. “The up‑trend won’t resume until it prints a new higher low,” he wrote, adding in reply to a sceptic who wondered whether DOGE might first undercut $0.12: “If it breaks the last low, it will go lower. If it prints a new higher low and a new higher high, then I’ll be confident a new up‑trend is on.” His road‑map therefore allows for one more flush—potentially into the $0.13–$0.11 pocket. At press time, DOGE traded at $0.154. Featured image created with DALL.E, chart from TradingView.com
Bitcoin price is slowly moving higher above the $83,500 zone. BTC must clear the $85,200 resistance zone to continue higher in the near term. Bitcoin found support at $83,200 and started a recovery wave. The price is trading above $84,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $84,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $85,200 zone. Bitcoin Price Eyes Fresh Upside Bitcoin price started a fresh decline below the $86,200 and $85,500 levels. BTC even declined below the $84,00 level before the bulls appeared. The price tested the $83,200 support. A low was formed at $83,171 and the price recently started a recovery wave. The price climbed above the $84,500 resistance zone. There was a break above the 50% Fib retracement level of the downward move from the $86,400 swing high to the $83,171 low. Besides, there was a break above a connecting bearish trend line with resistance at $84,650 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $84,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $85,200 level. It is near the 61.8% Fib retracement level of the downward move from the $86,400 swing high to the $83,171 low. The first key resistance is near the $85,500 level. The next key resistance could be $86,500. A close above the $86,500 resistance might send the price further higher. In the stated case, the price could rise and test the $87,200 resistance level. Any more gains might send the price toward the $88,800 level. Another Decline In BTC? If Bitcoin fails to rise above the $85,200 resistance zone, it could start another decline. Immediate support on the downside is near the $84,500 level. The first major support is near the $84,000 level. The next support is now near the $83,200 zone. Any more losses might send the price toward the $82,500 support in the near term. The main support sits at $81,800. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $84,500, followed by $83,200. Major Resistance Levels – $85,200 and $85,500.
On-chain data shows the Bitcoin Realized Cap has surged to a new all-time high (ATH) recently, but monthly inflows have slowed down considerably. Bitcoin Realized Cap Is Growing At A Notably Slower Rate Now According to data from the on-chain analytics firm Glassnode, the Realized Cap of Bitcoin has just set a new record. The “Realized Cap” here refers to a capitalization model for Bitcoin that calculates the asset’s total value by assuming the ‘real’ value of any token in circulation is equal to the spot price at which it was last transacted on the network. The last transaction of a given coin is likely to represent the last point at which it changed hands, so the price at the time of the move would denote the coin’s current cost basis. Related Reading: Bitcoin Sentiment Still Close To Extreme Fear—Green Sign For Recovery? As the Realized Cap sums up this acquisition value for all tokens part of the circulating supply, it essentially determines the amount of capital that the investors as a whole have used to purchase Bitcoin. Now, here is the chart for the indicator shared by the analytics firm that shows the trend in its value over the last few years: As displayed in the above graph, the Bitcoin Realizzed Cap has been following an uptrend for a while now. Whenever the indicator’s value rises, it means a net amount of capital is flowing into the cryptocurrency. Thus, the long-term surge would imply BTC has been enjoying continuous inflows. That said, while capital has been flowing in without break, the growth rate has fluctuated over the cycle. From the chart, it’s visible that the Realized Cap saw a particularly sharp rise during two periods: Q1 2024 and Q4 2024. The Q1 2024 phase was followed by a rapid slowdown in capital inflowsm and so far, it would appear that the Q4 2024 one has been seeing something similar. At the height of inflows in December, the growth rate of the metric stood at around 13% per month. Today, this value has declined to just 0.9% per month. Growth is still continuing, of course, and the indicator has managed to set a new record of $872 billion. But as Glassnode has explained, the slowdown could indicate “investor appetite is softening – signaling continued risk-off sentiment.” Both the periods of fresh capital inflows last year coincided with bull rallies for Bitcoin, while the phase of slowdown in between the two resulted in bearish consolidation for the cryptocurrency. Related Reading: Bitcoin Supply In Profit Hasn’t Lost This Key Level Yet—Bull Cycle Intact? The latest drop in Realized Cap growth has so far resulted in a notable drawdown for the asset’s price. Given the trend of last year, it’s possible that a proper reversal may not happen for BTC until the metric catches a sharper uptrend. BTC Price Bitcoin has taken to sideways movement over the last few days as its price is still floating around the $84,700 mark. Featured image from Dall-E, Glassnode.com, chart from TradingView.com
Bitcoin’s (BTC) realized market cap reached a new all-time high of $872 billion, but data from Glassnode reflects investors’ lack of enthusiasm at BTC’s current price levels. In a recent X post, the analytics platform pointed out that despite the realized cap milestone, the monthly growth rate of the metric has dropped to 0.9% month over month, which implied a risk-off sentiment in the market. Bitcoin realized cap net position. Source: X.comRealized cap measures the total value of all Bitcoin at the price they last moved, reflecting the actual capital invested, providing insight into Bitcoin’s economic activity. A slowing growth rate highlights a positive but reduced capital inflow, suggesting fewer new investors or less activity from current holders.Additionally, Glassnode’s realized profit and loss chart recently exhibited a sharp decline of 40%, which signals high profit-taking or loss realization. The data platform explained,“This suggests saturation in investor activity and often precedes a consolidation phase as the market searches for a new equilibrium.”While new investors remained sidelined, existing investors are probably adopting a cautious approach due to the short-term holder’s realized price. Data from CryptoQuant suggested that the current short-term realized price is $91,600. With BTC currently consolidating under the threshold, it implies short-term holders are underwater, which can increase selling pressure if they sell to cut their losses.Bitcoin short-term holders’ price and MVRV. Source: CryptoQuantSimilarly, Bitcoin's short-term holder market value to realized value remained below 1, a level historically associated with buying opportunities and further proof that short-term holders are at a loss.Related: Bitcoin US vs. offshore exchange ratio flashes bullish signal, hinting at BTC price highs in 2025Bitcoin chops between US and Korean tradersData shows a sentiment divergence between Bitcoin traders in the US and Korea. The Coinbase premium, reflecting US trading, recently spiked, signaling strong US demand and potential Bitcoin price gains. Conversely, the Kimchi premium index fell during the correction, indicating lagging retail engagement among Korea-based traders.This particular uneven demand is reflected in Bitcoin’s recent price action. The chart shows that Bitcoin’s price has oscillated between a tight range of $85,440-$82,750 since April 11. On the 4-hour chart, BTC has retained support from the 50-day, 100-day, and 200-day moving averages, but on the 1-day chart, these indicators are putting resistance on the bullish structure.Bitcoin 4-hour chart. Source: Cointelegraph/TradingViewRelated: Bitcoin online chatter flips bullish as price chops at $85K: SantimentThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kyrgyzstan President Sadyr Zhaparov has signed a constitutional law authorizing the launch of a central bank digital currency pilot project while also giving the “digital som” — the national currency in digital form — legal tender status.The law gives the National Bank of the Kyrgyz Republic the exclusive right to issue the digital som, establish the rules for its issuance and circulation, and oversee the platform on which the national currency will operate, Kyrgyzstan’s presidential office said on April 17.However, a final decision on whether to officially issue the CBDC is not expected until the end of 2026, local outlet Trend News Agency reported in December.If the central bank decides to adopt the digital som, it would also need to outline cryptographic protection measures to ensure the digital som remains secure and isn’t used for fraudulent transactions.Testing of the digital som platform is expected to take place sometime this year.Zhaparov’s sign-off comes nearly a month after Kyrgyzstan’s parliament, the Jogorku Kenesh, approved the amendment to Kyrgyzstan’s constitutional law on March 18.CBDCs continue to be heavily criticized by some members of the crypto community, flagging concerns that they could undermine financial privacy and enable excessive government oversight, among other things.While 115 nations have initiated CBDC projects, only four CBDCs have officially launched — the Bahamas Sand Dollar, Nigeria’s e-Naira, Zimbabwe’s ZiG and Jamaica’s JAM-DEX, data from cbdctracker.org shows.Over 90 CBDC projects are yet to move past the research stage.Kyrgyzstan continues to make moves in cryptoEarlier this month, former Binance CEO Changpeng “CZ” Zhao said he would begin advising Kyrgyzstan on blockchain and crypto-related regulation after signing a memorandum of understanding with the country’s foreign investment agency.Zhaparov said the initiative would assist with the growth of the economy and the security of virtual assets, “generating new opportunities for businesses and society as a whole.”Source: Sadyr ZhaparovRelated: Bitcoin price levels to watch as Fed rate cut hopes fadeThe mountainous, land-locked country is considered well-suited for crypto mining operations due to its abundant renewable energy resources, much of which is underutilized.Over 30% of Kyrgyzstan’s total energy supply comes from hydroelectric power plants, but only 10% of the country’s potential hydropower has been tapped, according to a report by the International Energy Agency.Magazine: Your AI ‘digital twin’ can take meetings and comfort your loved ones
As gold continues to set new all-time highs (ATH) – trading at $3,333 per ounce at the time of writing – Bitcoin (BTC) has seen more subdued price action, consolidating in the mid-$80,000 range. However, analysts suggest that the top digital asset may soon mirror gold’s recent momentum. Bitcoin Set To Follow Gold’s Momentum? In a recent post on X, crypto trading account Cryptollica hinted that BTC may be poised to replicate gold’s historic price movement seen over the past few months. The account shared the following chart, highlighting the striking similarities between the price actions of gold and BTC. The chart shows both gold and BTC forming a macro-bottom around early 2023, followed by a rejection at the range top in early 2024. Gold eventually broke out in the following months, while BTC lagged slightly, breaking out around November 2024. Related Reading: Bitcoin Undervalued? Analyst Breaks Down Bullish On-Chain Metrics According to Cryptollica, BTC now appears to be breaking out of a consolidatory wedge pattern, with a potential mid-term target as high as $155,000. Currently, Bitcoin’s ATH stands at $108,786, recorded earlier this year in January. BTC is also likely to benefit from several favorable macroeconomic trends. For example, the global M2 money supply is expected to increase in 2025, a development that typically supports risk-on assets like Bitcoin. BTC Maturing As A Safe Haven Asset Beyond technical chart patterns, BTC has demonstrated remarkable resilience amid escalating global tariff-induced uncertainty. According to the latest The Week On-Chain report, both gold and BTC have performed well during the ongoing tariff war. The report notes: Amidst this turmoil, the performance of hard assets remains remarkably impressive. Gold continues to surge higher, having reached a new ATH of $3,300, as investors flee to the traditional safe haven asset. Bitcoin sold off to $75k initially alongside risk assets, but has since recovered the week’s gains, trading back up to $85k, now flat since this burst of volatility. The report also mentions that BTC recently experienced its largest price correction of the 2023–25 cycle, a -33% drawdown from its ATH earlier this year. However, this correction remains relatively modest compared to those seen in previous market cycles. Related Reading: Bitcoin Weekly RSI Breakout Signals Trend Shift – Is $100,000 Next For BTC? The following chart illustrates BTC bull market correction drawdowns since 2011. As shown, the recent -33% correction is the shallowest among past cycles, with the deepest being -72% during the 2012–14 bull market. While BTC continues to show signs of maturing as a reliable asset during times of geopolitical uncertainty, institutional investors appear to be taking profits. This is evidenced by recent outflows from Bitcoin exchange-traded funds (ETFs). At press time, BTC is trading at $84,694, up 0.7% in the past 24 hours. Featured image from Unsplash, charts from X, Glassnode, and Tradingview.com
The exchange said it will close down on May 1, and said that there is a 'transatlantic operation' to prosecute the project.
Bitcoin’s price action in recent weeks has been mostly highlighted by a trading range between $80,000 and $85,000, with a struggle to reclaim buying pressure. Despite the current lack of a strong bullish momentum, many crypto analysts are banking on a bullish continuation and a new Bitcoin price all-time high before the end of 2025. According to crypto analyst TradingShot, Bitcoin could be approaching the final leg of this bull cycle, predicting a peak above $125,000. However, this analysis comes with a caveat that an extended bear market might roll in by October 2025. Long-Term Bitcoin Cycles Hint At Imminent Peak TradingShot’s analysis, which was posted on the TradingView platform, is based on over a decade of symmetrical Bitcoin market behavior that shows both bull and bear cycles unfolding in consistent timeframes. According to TradingShot, the bull cycles dating back to 2015 have all lasted approximately 1,064 days, or 152 weeks, with each cycle topping out almost exactly three years after the previous bottom. On the other hand, bear cycles have consistently lasted for around one year, either from December to December or November to November. Related Reading: Bitcoin Price Following Analyst’s Prediction For Bullish Breakout, Here’s The Target This historical symmetry is reflected in the chart below, which highlights three bull cycles followed by three bear periods, all forming a repeating pattern. The most recent bottom, recorded on November 7, 2022, marked the start of the current bull cycle. If this pattern holds, Bitcoin could reach its next peak in the week of October 6, 2025. The bull cycle has led to Bitcoin breaking above $100,000 and now with an all-time high of $108,786, but like many others, the analyst predicted this peak will still be broken this year. This peak will likely mirror the explosive rallies that ended the 2017 and 2021 cycles and eventually surpass $125,000. Sell Everything In October 2025, Buy Back In October 2026 TradingShot’s primary advice is blunt but strategic: sell everything by October 2025. According to the analyst, this window could be the final opportunity to exit near the top before the next bear cycle takes hold. Counting 1064 days from the most recent bottom of $15,600 in November 07 2022, gives a time estimate for the next cycle top on October 6 2025. If history repeats itself, the subsequent bearish phase will likely last for 12 months and bottom out around October 12, 2026, before the next bull phase. Related Reading: Bitcoin Price Stalls Below $85,000 Psychological Level, Why A Drop To $74,000 Is Possible This timing is not speculative; it’s based on a consistent one-year bearish phase across three full market cycles. Therefore, it would be better to sell before October 2025 and start accumulating by October 2026. At the time of writing, Bitcoin is trading at $84,500, up by 0.9% in the past 24 hours and 48% away from the predicted peak of $125,000. Featured image from Adobe Stock, chart from Tradingview.com
Ripple will be seeding the initial investment as its anchor investor, according to a release shared exclusively with The Block.
OpenAI was reportedly in talks to buy Anysphere, the company that produces the Cursor AI coding assistant, before entering into talks with rival company WindSurf.According to CNBC, OpenAI approached Anysphere in 2024 and again in 2025, but talks stalled both times. Failing to arrive at a deal led OpenAI to look elsewhere for potential acquisitions.Sources familiar with the deal also say OpenAI is prepared to pay $3 billion to purchase WindSurf, which would make it the company's largest corporate acquisition to date.An example of OpenAI’s ChatGPT producing computer code through simple text prompts. Source: ChatGPTOpenAI's attempted acquisition of an AI coding assistant company follows the release of DeepSeek R1 in January 2025, which shattered long-held assumptions about artificial intelligence.DeepSeek was reportedly trained at a fraction of the cost of leading AI models while delivering comparable performance — challenging the belief that scaling requires massive computing power, rattling financial markets, and raising questions about the billions spent by US AI giants.Related: OpenAI to release its first ‘open’ language model since GPT-2 in 2019OpenAI inches toward profitability but cheaper competitors still a challengeOpenAI expects to triple its revenue in 2025 to approximately $12.7 billion by selling paid subscriptions for its leading AI models to individuals and businesses.The company surpassed 1 million premium business subscribers in September 2024. However, OpenAI CEO Sam Altman said the AI giant might not be profitable until 2029.According to Altman, OpenAI needs revenues of approximately $125 billion to turn a profit on its capital-intensive business.In February 2025, Altman said that AI development costs were dropping dramatically. “The cost to use a given level of AI falls about 10x every 12 months," the CEO wrote in a Feb. 9 blog post.Despite this, high costs and centralization issues continue to plague large-scale corporate AI developers, who must compete with more nimble open-source counterparts.Dr. Ala Shaabana — co-founder of the OpenTensor Foundation — recently told Cointelegraph that the release of DeepSeek solidified open-source AI as a serious contender against centralized AI systems.Shaabana added that the lower cost of open-source systems proves that AI does not need billions of dollars to scale or achieve high-performance benchmarks.Magazine: 9 curious things about DeepSeek R1: AI Eye
Slovenia’s Ministry of Finance released two legislative proposals for public consultation to clarify and align the taxation of digital assets and derivatives ahead of a planned 2026 rollout, according to an April 17 release. The first proposal, the Law on the Tax on Profit from the Disposal of Crypto Assets, introduces a 25% capital gains […]
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According to CoinGecko’s 2025 Q1 Report, the cryptocurrency market, led by Bitcoin, lost nearly one-fifth of its value in the first quarter of 2025, fully negating the gains made towards the end of 2024. Related Reading: Is Shiba Inu On Track To Dethrone Dogecoin? Here’s What The Experts Say Total market value witnessed a drop of $3.8 trillion to $2.8 trillion, an 18.6% decline over the quarter. This sharp plunge marked the turnaround before the inauguration of Donald Trump as US president, in stark contrast to last year’s ramp up. Trading volume also suffered some contractions, as the daily volumes dropped to $146 billion, a decrease of 27%. Bitcoin Rules Market While Others Decline Bitcoin insulated itself reasonably from the turbulence in other cryptocurrencies so that its market share reached nearly 60%, the highest in four years. Bitcoin achieved peak valuation at $106,182 in January shortly after inauguration but plunged almost 12% to finish the quarter at $82,514. Compared with Bitcoin during this period, gold and US Treasury bonds were traditional safe-haven investments with lower performance. Compared to Ethereum, however, the situation was much worse. Its price fell by 45%, essentially wiping out all gains in 2024. Its market share dropped to almost 8%, the lowest it has been since the end of 2019. As it has been observed by most analysts, this downturn is not something new since more and more activities have shifted toward “Layer 2” networks built atop Ethereum and not using the Ethereum main network. Meme Coins Crash After Major Scam The previously red-hot meme coin space received a rude wake-up call in early 2025. Following a boom in Trump-themed tokens, the industry was severely hurt when the Libra token – introduced by Argentina’s President Javier Milei – proved to be a scam. The project was abandoned by developers after they had taken investors’ funds, shattering confidence in such tokens. By late March, new token launches on the platform Pump.fun per day had dropped by over 50%. DeFi Industry Loses More Than A Quarter Of Its Value Not even the decentralized finance (DeFi) industry was exempted. Overall money in DeFi projects dropped 27% to $48 billion during the first quarter. Ethereum’s dominance in the DeFi space declined to 56% by quarter-end. Related Reading: Solana Hits Milestone As Canada OKs First Spot ETFs Not everything was negative, though. Stablecoins such as Tether (USDT) and USD Coin (USDC) became more popular with investors seeking a safer bet as the market tanked. Solana also remained in its leadership position, holding 39.6% of all decentralized exchange (DEX) trading during Q1, courtesy mostly of meme coin mania. Even Solana’s leadership, however, started to wane at the end of the period as the meme coin mania declined. The dramatic shift in market sentiment shows how quickly cryptocurrency fortunes can change. After a promising end to 2024, the new year brought a harsh reality check for crypto investors, with nearly $1 trillion in market value disappearing in just three months. Featured image from Pexels, chart from TradingView
Cryptocurrency exchange eXch announced it will cease operations on May 1 after reports alleged the firm was used to launder funds from a Bybit hack.In an April 17 notice, eXch said the majority of people in its management team voted to “cease and retreat” in response to the allegations that North Korea’s Lazarus Group used the exchange to launder roughly $35 million of the funds stolen in a $1.4 billion exploit on Bybit. The exchange said it was the subject of “an active transatlantic operation” aimed at shutting it down and potentially pursuing charges.“Even though we have been able to operate despite some failed attempts to shut down our infrastructure (attempts that have also been confirmed to be part of this operation), we don’t see any point in operating in a hostile environment where we are the target of SIGINT [Signals Intelligence] simply because some people misinterpret our goals,” said eXch.Related: North Korean hackers target crypto devs with fake recruitment testsThe exchange initially denied reports from crypto sleuths suggesting that it had laundered digital assets for the Lazarus Group, but admitted to processing an “insignificant portion of funds” from the February hack. Individuals from eXch’s management team emphasized its focus on user privacy in announcing the shutdown, claiming that some exchanges “abus[e] customers with nonsensical policies” in their attempts to fight money laundering.The biggest hack in crypto historyThe Bybit hack, one of the largest in the history of the crypto industry, resulted in more than $5 billion in withdrawals from users, including the stolen funds. CEO Ben Zhou said on Feb. 22 that the exchange had the means to “cover the loss” if the funds were not recovered. However, the firm later announced it would shutter some of its Web3 services and close its non-fungible token marketplace.As of April 10, Bybit had regained its market share achieved before the hack: roughly 7%. The exchange paid more than $2 million to bounty hunters providing information that could be used to freeze some of the funds traceable to other platforms, which was estimated to be roughly 89% of the $1.4 billion as of March 20.Magazine: Your AI’ digital twin’ can take meetings and comfort your loved ones
Truth Social parent company Trump Media & Technology Group alleged that UK-based Qube might be shorting DJT stock without disclosing its positions properly.
Prime brokerage Hidden Road, which was recently acquired by Ripple for $1.25 billion, has secured a broker-dealer license from the Financial Industry Regulatory Authority (FINRA) — a move that enhances its capacity in the fixed-income markets. As a FINRA broker-dealer, Hidden Road can further develop its fixed-income prime brokerage services and extend its capabilities in traditional markets, the company announced on April 17. This includes offering institutional clients regulatory-compliant clearing and financing services across fixed-income securities. Membership in FINRA is considered a significant commitment to compliance and investor protection. It also boosts registrants’ credibility in the eyes of investment bankers, according to Telos Capital Advisors, a Dallas-based investment bank. Hidden Road operates a prime brokerage and credit network, clearing more than $10 billion in daily transactions on behalf of more than 300 institutional clients. When it was founded in 2018, Hidden Road focused mainly on foreign exchange markets before expanding into digital assets.These strengths positioned Hidden Road as an attractive acquisition for blockchain payments network Ripple, which ultimately purchased the company on April 8.Ripple’s chief technology officer, David Schwartz, described the acquisition as a “defining moment for the XRP Ledger” by expanding the settlement layer’s use cases across traditional financial markets. Under Ripple, Hidden Road will “exponentially expand its capacity to service its pipeline and become the largest non-bank prime broker globally,” said CEO Brad Garlinghouse. Garlinghouse comments on the Hidden Road acquisition on April 8. Source: Brad GarlinghouseRelated: US to get its first XRP-based ETF, launching on NYSE ArcaPositive regulatory backdrop supports Ripple expansionRipple’s acquisition of Hidden Road comes on the heels of a favorable regulatory backdrop in the United States following the election of President Donald Trump. In January, Ripple secured money transmitter licenses in both Texas and New York, allowing the company to facilitate capital transfers within those states. Two months later, the Securities and Exchange Commission (SEC) dropped its lawsuit against Ripple, ending one of crypto’s longest legal battles and positioning the company to once again focus on expansion. At the time, crypto lawyer John Deaton said the decision is the “final exclamation point that [XRP tokens] are considered digital commodities, not securities.”The SEC is about to get a pro-crypto Chair after Paul Atkins’ nomination was approved by the US Senate on April 9. Once he’s sworn in, Atkins will take the reins from Mark Yueda, who has served as Acting Chair since Jan. 20.Related: Court grants 60-day pause of SEC, Ripple appeals case
Hidden Road, a digital asset and foreign exchange prime brokerage firm recently acquired by Ripple, has secured a broker-dealer license in the US, expanding its capabilities to serve institutional investors, the firm’s President, Noel Kimmel, told Bloomberg News. The license enables Hidden Road to offer prime brokerage, clearing, and financing services across fixed-income assets to […]
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Solana is now at a critical juncture as it trades around a pivotal price level that could determine its short-term direction. After weeks of selling pressure and underwhelming price action, bulls are attempting to regain control—but success hinges on reclaiming higher resistance zones. Without a decisive move upward, Solana’s price action may continue to follow the broader downtrend that has defined the last few months. Related Reading: Over 1.9M Ethereum Positioned Between $1,457 And $1,598 – Can Bulls Hold Support? Meanwhile, macroeconomic tensions continue to escalate. Trade conflicts between the United States and China are intensifying, with both nations imposing aggressive tariffs. This has created a high-risk environment across global financial markets, and altcoins like Solana are particularly vulnerable. With uncertainty rising and investor sentiment turning cautious, digital assets are under growing pressure. However, there is a glimmer of technical optimism. Top crypto analyst Crypto Seth shared an analysis suggesting that Solana has flipped bullish on the 8-hour chart. According to his view, if SOL can break above key resistance, it could confirm a trend shift and trigger a potential recovery rally. Until then, traders are watching closely as Solana navigates a critical support-resistance battleground amid a volatile macro backdrop. Bulls Must Hold the Line as Market Faces Trade War Pressure Solana is currently trading in a make-or-break zone, having lost 55% of its value since reaching its all-time high in January. This decline mirrors a broader crypto and equities market correction that began when macroeconomic tensions escalated—most notably due to rising inflation, global instability, and intensifying trade war rhetoric between the United States and China. Bulls now face a critical moment. Solana must hold current levels and reclaim key resistance zones to spark a recovery rally. Failing to do so could open the door to a sharp meltdown in price, particularly if macro conditions continue to deteriorate. US President Donald Trump’s unpredictable policy decisions, especially surrounding tariff impositions, have created a hostile environment for risk assets like Solana. Ongoing tariff escalations with China are only adding to market uncertainty, further weighing on investor sentiment. However, there is a glimmer of hope from the technical side. Seth shared insights suggesting that Solana has flipped bullish on the 8-hour chart. According to his analysis, a break above the $147 level would confirm a trend shift and potentially pave the way for a sustained recovery. For now, all eyes remain on whether SOL can clear this level or face renewed pressure in a volatile global climate. Related Reading: Dogecoin Whales Buy 800 Million DOGE in 48 Hours – Smart Money Or Bull Trap? Solana Faces Pivotal Resistance: Can Bulls Break Through? Solana (SOL) is currently trading at $132 after several days of struggling to reclaim this key resistance zone. Price action remains uncertain, and bulls must now show strength to avoid a deeper correction. Reclaiming the $132–$135 range is crucial, as it could confirm short-term momentum and signal the start of a recovery rally. To establish a higher high and shift the current downtrend structure, SOL must push decisively above the $150 level. This area has served as a strong rejection point in previous attempts and stands as the next major test for bullish continuation. A clean breakout above this level could open the path toward higher targets and renewed investor confidence. However, if bulls fail to defend the $125 support level, Solana may risk a drop back to lower demand zones around $100—or potentially even lower, depending on broader market conditions. Macroeconomic uncertainty, continued trade tensions between the U.S. and China, and overall weakness in altcoins are all contributing factors weighing heavily on SOL’s price. Related Reading: Solana Retests Bearish Breakout Zone – $65 Target Still In Play? For now, traders are watching the $135 level closely. A breakout above this key threshold could shift the tide in Solana’s favor. Until then, caution remains warranted. Featured image from Dall-E, chart from TradingView
The latest US initial jobless claims data came at 215,000, below the estimated expectation of 225,000, on April 17. The dip in jobless claims indicated that the US labor market remained stable, with fewer people being affected by the uncertainty of US tariffs. Initial jobless claims are a leading economic indicator that measures the health of the US economy and it often impacts investor sentiment around risk assets like Bitcoin (BTC). US jobless claims data. Source: Investing.comResiliency in the labor market comes on the back of Federal Reserve Chair Jerome Powell’s recent comment about the impact of tariffs. In a press conference at the economics club of Chicago on April 16, Powell said,“The level of the tariff increases announced so far is significantly larger than anticipated. The same is likely to be true of the economic effects, which will include higher inflation and slower growth.”The Fed Reserve Chair also stated that the Fed has no plans to intervene with market bailouts or implement rate cuts in the near future. This stance aligns with his earlier comments from April 4, 2025, when he noted it was "too soon" to consider rate reductions, reflecting the Fed's cautious approach amid ongoing economic uncertainty. However, the European Central Bank cut interest rates to 2.25% from 2.50% in order to combat economic pressure from US trade tariffs. According to data, the ECB has taken borrowing costs to its lowest level since late 2022, with the current rate cut marking its seventh reduction in a span of a year. Related: Bitcoin gold copycat move may top $150K as BTC stays 'impressive'Bitcoin remains at an inflection point, says analystFor risk assets like Bitcoin, the recent US jobless claims data leans bearish in the short term, as a strong labour market reduces the likelihood of rate cuts, which supports speculative investments. BTC prices have consolidated in a tight range over the past few days, failing to break above the $86,000 level. In light of that, anonymous crypto trader Titan of Crypto said that Bitcoin is at an “inflection point”. Bitcoin analysis by Titan of Crypto. Source: X.comAn inflection point in trading is a critical juncture where the market's direction or momentum may shift significantly. It’s a moment where the balance between buyers and sellers reaches a tipping point, often leading to a reversal or acceleration in the trend. The trader said,“Bitcoin Inflection Point. On the 1H chart, BTC is contracting within a triangle and is about to choose a direction. The RSI is above 50 and attempting to break its resistance. A move is brewing.”Order flow trader Magus noted that Bitcoin is consolidating between $83,700 and $85,200. For the bullish momentum to persist, BTC must break above $85,000 soon, as the long-term chart signals potential bearish risks if this level isn't surpassed.Related: Bitcoin price levels to watch as Fed rate cut hopes fadeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Venture capital firm Andreessen Horowitz, or a16z, announced a $55 million investment in LayerZero, a Web3 company that runs a crosschain messaging protocol. The investment was disclosed in an April 17 X post by Ali Yahya, a general partner in the firm.A16z has made previous investments in LayerZero, including an initial investment in March 2022 and a subsequent investment during LayerZero’s Series B funding round in April 2023. The companies have not disclosed the funding round's valuation.Source: Ali Yahja | alive.ethThe Canada-based LayerZero was valued at $3 billion during its Series B funding round, which saw participation from 33 investors. In addition to a16z, Circle Ventures, OKX Ventures, OpenSea Ventures, Sequoia Capital, and many others participated at the time. In January 2025, LayerZero reached a settlement with the FTX Estate over a long-running dispute stemming from allegations that it exploited the exchange’s liquidity crisis by “negotiating a fire-sale transaction,” according to the Estate. In June 2024, LayerZero launched its own token, LayerZero (ZRO).Related: ‘Big Sybil hunt’ and durable users helped LayerZero airdrop succeed, says CEOCrosschain protocols, chain-agnosticism gain tractionCrosschain messaging protocols allow programs to share information across ecosystems and can be a critical function for decentralized applications (DApps) or traders who want seamless swaps across blockchains.Some protocols competing in the same space as LayerZero include Wormhole, Stargate, Superbridge, Connext, and many others.Related: PayPal USD links with LayerZero for transfers between Ethereum and SolanaWormhole may be one of the largest competitors to LayerZero, having raised $225 million at a $2.5 billion valuation in November 2023. Like LayerZero, Wormhole hosted an airdrop for its token, Wormhole (W), although the airdrop attracted scammers and spoof tokens. Chainlink also has a crosschain interoperability protocol that allows for messaging between blockchains. More and more companies are realizing the value of being omnichain or at least chain-agnostic. Phantom, which at first was a Solana-centric wallet, now supports six major blockchains, including Bitcoin and Ethereum. Magic Eden, an NFT-infrastructure company, also started as Solana-centric but has launched marketplaces for multiple blockchains now.Magazine: X Hall of Flame: ChainLinkGod was in High School when he started the account!
Ethena Labs, the developer of the USDe synthetic dollar (USDe), and financial technology company Securitize, released a preliminary roadmap for their upcoming Converge network, a high-throughput blockchain focused on real-world assets and decentralized finance (DeFi).According to the announcement, a testnet will be live in the coming weeks, with a mainnet launch later in 2025. Converge will feature a 100 milliseconds (ms) native block time, with plans to reduce block times to 50ms by Q4 2025. The developers also plan to achieve at least one gigagas of potential throughput during 2025. Gigagas is a measure of billions of gas units processed by a blockchain network in one second.Ethena and Securitize are launching the network to support permissioned real-world tokenized applications and permissionless DeFi applications as the line between traditional and decentralized finance continues to blur.Converge 1-year performance targets. Source: ConvergeRelated: Ethena Labs exits German market following agreement with BaFinTraditional finance converging with the crypto worldTraditional financial institutions are increasingly using decentralized finance protocols and interacting with tokenized real-world assets like stablecoins and tokenized bonds.The merging of TradFi and DeFi has drawn mixed reactions from the crypto community, with some saying it was inevitable that the two worlds came together, and others warning of institutional capture.In a Jan. 21 interview, Franklin Templeton CEO Jenny Johnson told Bloomberg that US President Donald Trump would integrate crypto and traditional finance by establishing clear regulations.“We need to have some sort of regulatory clarity so that you could bring these together because, fundamentally, it will drive out costs, and there is great innovation that the technology enables,” Johnson said.Shibtoshi, the founder of the SilentSwap privacy-preserving trading platform, recently told Cointelegraph that some institutions are currently hesitant to adopt decentralized finance solutions.The DeFi founder said that a lack of privacy, legal liability issues, and unclear regulations have stymied institutional adoption, but added that the tools to address these concerns already exist."Institutions have realized the benefits of a securely decentralized system. As early as 2021, reports said nearly one in three institutional investors in crypto were already using DeFi," Shibtoshi told Cointelegraph.Magazine: DeFi will rise again after memecoins die down: Sasha Ivanov, X Hall of Flame
BNB has shown significant market resilience similar to Bitcoin in the recent past catalyzed by rising demand. Bullish sentiment has been building up for the BNB price in the last three months, but it could be delayed if the support level at $520 is breached. In a surprising move to crypto traders, Kraken Exchange had …
Key points: Monetary stimulus in China and Europe increases investors’ focus on Bitcoin price.The US Federal Reserve is under political pressure to cut rates, as the DXY weakens.Bitcoin’s decoupling from traditional markets continues to gain attention. Bitcoin (BTC) traders are somewhat puzzled by BTC price jumping to $85,000, especially since the S&P 500 index has dropped 5.7% in April, and this move came after the cryptocurrency managed a 14% rebound off its trade-war induced crash to $74,400. Investors are cautiously optimistic, but multiple events and data points to further gains above $90,000.Several metrics and events support a “decoupling,” meaning Bitcoin’s price is not closely following traditional financial instruments. However, some skepticism emerges as BTC has not matched gold’s performance. Gold reached an all-time high of $3,358 on April 16, leading to speculation that governments and central banks are increasing their gold reserves.Global stimulus rises as US economy shows early weaknessAs central banks respond to the threat of an economic recession, the chances of an increase in monetary supply are rising. While the US Federal Reserve (Fed) has held off on lowering interest rates or expanding its balance sheet, other nations have already taken such steps. This puts more pressure on the US economy, which is starting to show signs of weakness.US Federal Reserve total assets, USD million. Source: St Louis FedIn China, new bank loans in March rebounded more than expected to $500 billion, over 20% higher than analysts had predicted and a strong recovery from the previous month’s decline. According to Reuters, the PBOC has promised to increase stimulus measures to reduce the impact of the trade war with the United States.On April 17, the European Central Bank cut interest rates for the seventh time in a year to support the eurozone economy. The ECB has lowered the cost of capital to its lowest level since late 2022. Several investment banks have also reduced their inflation forecasts for the region, as the tariff war could reduce the region’s gross domestic product by 0.5%, according to Reuters.Weaker US dollar and Bitcoin miners’ long-term commitmentFurther adding pressure on the US Federal Reserve to end its restrictive monetary policy is the weakening of the US dollar compared to major global currencies, as the DXY Index has dropped to its lowest level in three years. A weaker dollar usually helps exports, which can be positive for the current account balance, but this is unlikely to last during a trade war.US Dollar Index (DXY). Source: TradingView / CointelegraphInvestor confidence has also been hurt by US President Donald Trump’s public criticism of Fed Chair Jerome Powell’s administration. This situation makes it harder for the US Treasury to rely on issuing Treasurys to stay afloat, which further weakens the US dollar. President Trump even said that Powell’s removal “cannot come fast enough,” while also calling for lower interest rates.However, when looking at the current macroeconomic data, there is little reason to support a more relaxed monetary policy from the US Fed, especially after the latest US jobless claims reported on April 17. Initial claims fell by 9,000 to 215,000 in the week ending April 12, according to the US Labor Department. Powell repeated on April 16 that the labor market is in a “solid condition,” according to Reuters.Related: When gold price hits new highs, history shows ‘Bitcoin follows’ within 150 days — AnalystBitcoin 7-day average estimated hashrate. Source: Blockchain.comBitcoin miners have also shown a strong long-term commitment, as the hashrate increased by 8% compared to the previous month. Since the Bitcoin halving in April 2024, traders were worried that lower profits would cause many miners to leave, possibly leading to a sell-off, since miners reportedly hold almost 1.8 million BTC, according to Glassnode.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.