SOL's price action is only heading in one direction in the near term.
April 8th HTX DAO xTRON Hong Kong night is here! Top prize for live event 1 ETH! And massive 888, 388USDT The post HTX WEEKLY：6 Apr. 2025 first appeared on HTX Square .
Cryptocurrency values have significantly decreased due to global market tensions. Expert opinions highlight skepticism about Bitcoin's status as a hedge against risk. Continue Reading: Market Turbulence Sparks Significant Drops in Major Cryptocurrencies The post Market Turbulence Sparks Significant Drops in Major Cryptocurrencies appeared first on COINTURK NEWS .
Twitter founder and Block Inc. CEO Jack Dorsey has recently shared his thoughts on why Bitcoin would fail if pursued only as a store of value of “digital gold”. Although BTC is often seen as a hedge to the equity market, it has largely moved in tandem with it and is still considered a risk-ON asset considering volatility. Dorsey believes that it’s high time that BTC enters mainstream financial payments. Jack Dorsey on Why Bitcoin Could Fail Twitter co-founder and Block Inc. CEO Jack Dorsey has stirred fresh debate within the Bitcoin community. Speaking on the Presidio Bitcoin podcast last week with Haley Berkoe, Dorsey argued that Bitcoin must function as more than just a store of value if it is to succeed long term. Dorsey warned that limiting BTC use case to a digital equivalent of gold could lead to its “irrelevance.” According to him, Bitcoin’s true potential lies in its use for payments and everyday transactions. Jack Dorsey said: “I think it has to be payments for it to be relevant on the every day. Otherwise, it’s just something you kind of buy and forget and only use in emergency situations or when you want to get liquid again. So I think if it doesn’t transition to payments and find that everyday use case, it just gets increasingly irrelevant. And that’s failure to me.” Well, it seems that the Twitter co-founder is clearly challenging the narrative of Bitcoin as a “digital gold” going for long in the global financial market. His remarks revive a long-standing discussion in core Bitcoin circles: is Bitcoin ultimately a medium of exchange, a store of value, or both? Get Back to Bitcoin Whitepaper Jack Dorsey also called for a return to Bitcoin’s original mission, as mentioned in the whitepaper by Satoshi Nakamoto, noting that it needs to prioritize simple and accessible payment solutions that offer speed, privacy, and security. Addressing concerns over volatility and scalability, Dorsey argues that once BTC becomes more accessible, issues like wild Bitcoin price swings will alleviate. He suggested that Bitcoin has drifted from its core vision as a peer-to-peer payment system. Dorsey also urged developers and the broader community to refocus efforts on utility rather than just treating it as a store of value. “There’s tons of stuff we need to do to really get back to the white paper, which is, you know, a system for electronic peer-to-peer digital cash like we have not seen that yet,” he said. BTC Institutional Adoption on The Rise Over the years, BTC’s institutional adoption has also been on the rise, even with new investment products like Bitcoin ETF seeing strong demand in the first year of launch. Amid today’s crypto market crash , BTC price has tanked under $80K, testing its next crucial support levels. As of press time, BTC price is trading 7.5% down at $76,771 with a 260% surge in daily trading volume, shooting all the way to $50 billion. Crypto analyst Ali Martinez reports a notable uptick in large BTC holders, revealing that 76 new entities holding more than 1,000 BTC have joined the network over the past two months. This marks a 4.6% increase and suggests growing institutional demand for Bitcoin. Source: Ali Martinez The post Jack Dorsey: Bitcoin Can Fail If Only Used As Digital Gold, Store of Value appeared first on CoinGape .
The post Bitcoin Price Drops by 8.5%: Bloomberg’s McGlone Warns as Gold Rises and Crypto Falls! appeared first on Coinpedia Fintech News Bloomberg’s senior commodity strategist, Mike McGlone, is back in the spotlight with another bold take on the markets. After previously warning that Bitcoin could “lose a zero,” McGlone is now turning heads with his latest insights. This time, he’s highlighting gold’s growing strength as it challenges the dominance of traditional stocks. His latest analysis comes as Bitcoin, the world’s largest cryptocurrency, experiences a sharp decline, plunging 8.5% to $77,470 . With market conditions shifting rapidly, McGlone questions if investors are choosing the right assets or if they’re betting on the wrong assets at the wrong time. Gold Gaining Edge Over Risky Assets According to McGlone’s recent analysis, we may be witnessing a significant paradigm shift in asset valuations. He suggests that risky assets like stocks and cryptocurrencies might be due for a price correction after being overvalued for a long time. When paradigm shifts happen, probably best not to chance being on the wrong side of history, especially if it's simple mean reversion of silly expensive risk assets. #Cryptocurrencies are among the riskiest. Treasuries the opposite. Michael Saylor is all in #Bitcoin , Warren… pic.twitter.com/73do1sBtIk — Mike McGlone (@mikemcglone11) April 6, 2025 Meanwhile, safer investment options like gold and U.S. Treasury bonds are becoming more attractive to cautious investors. McGlone’s attached chart shows how gold has performed compared to stocks (S&P 500) over the years. The gold-to-stocks ratio has historically seen major breakouts during periods of economic uncertainty, proving its status as a safe-haven asset. The data now hint that gold might be gearing up for another strong rise, possibly outperforming stocks soon. Bitcoin vs. Treasuries: A Better Pick! McGlone also compares the investment choices of two major financial figures, Michael Saylor and Warren Buffett. Saylor, a well-known Bitcoin advocate, has placed significant bets on the cryptocurrency, whereas Buffett remains steadfast in his commitment to U.S. Treasury bonds. McGlone aligns himself with the latter, viewing Treasury bonds as a more stable investment in uncertain times. Bitcoin Could Lose a Zero This isn’t the first time McGlone has warned about Bitcoin’s future. Earlier, he predicted it might “lose a zero, ” suggesting a major drop. As McGlone recalls, the Nasdaq hit 5,000 in 2000 before the dot-com bubble burst. Now, he compares Bitcoin’s rise to the Nasdaq’s peak before the dot-com crash. He points out that Bitcoin was born after the 2008 financial crisis, and now he believes the market may have peaked, as Bitcoin recently hit $100,000 before pulling back, hinting at a possible downturn.
The post Crypto Market Down: $985M Liquidated, Bitcoin Falls Below $78K appeared first on Coinpedia Fintech News In a dramatic market crash today, $985 million was liquidated, sending shockwaves through the crypto world. Bitcoin fell below $78,000, while key altcoins such as XRP, SOL, and ETH dropped roughly 15%. The rapid sell-off underscores the inherent volatility of digital assets as investors face uncertainty amid ongoing regulatory and economic pressures. With sharp downturns across the board, this event serves as a stark reminder of crypto’s unpredictable nature and the high risks involved in the market today.
Crypto majors are reeling from a wave of volatility, with XRP, Cardano (ADA), and Dogecoin (DOGE) plunging below key technical support levels early on Monday. Macroeconomic uncertainty stemming from a global tariff war — dubbed an “economic nuclear war" by hedge fund manager Bill Ackman — is reeling markets from crypto to global equities, with bitcoin under $79,000 and major tokens down 14%. XRP Price Analysis XRP, which powers the XRP Ledger, slipped to $1.90 with a 14%. On the daily chart, XRP has breached its critical support at $2.00 — a level that previously held firm as psychological and technical bedrock. This breakdown completes a bearish head-and-shoulders pattern, a signal of potential further downside. Technical indicators reinforce the bearish outlook. The 21-day exponential moving average (EMA) sits at $2.20, acting as a resistance after XRP failed to reclaim it in past weeks. The relative strength index (RSI) has dipped into negative territory, hovering near 30, suggesting selling pressure outweighs buying interest. ADA Price Analysis Cardano’s ADA token trades at 55 cents, down 12% in the past 24 hours, below its 50-day simple moving average (SMA), a critical support that had propped up the price since mid-March. This breach on the daily chart aligns with a broader descending triangle pattern, hinting at continued bearish control. The RSI for ADA sits at 38, teetering on the edge of oversold territory, while the Moving Average Convergence Divergence (MACD) shows a bearish crossover, with the signal line dipping below the MACD line. The next support lies at nearly 35 cents, a level tested in late 2024, but a break below could drag ADA toward $0.40, a 30% drop from current levels. Bulls would need to reclaim 60 cents and flip it into support to negate the bearish thesis, though macroeconomic headwinds — fueled by tariff threats and a 20% crypto market cap loss this year — make that a tall order. DOGE Price Analysis Memecoin darling dogecoin (DOGE) has tumbled to $0.16, down nearly 15% in the last 24 hours. It sliced through support at 18 cents, a level that marked the base of a consolidation range since early March. On the 4-hour chart, a death cross has emerged, with the 50-period SMA crossing below the 200-period SMA, signaling a potential trend reversal to the downside. The RSI for DOGE is deep in oversold territory at 28, hinting at possible short-term relief, but the 20-day EMA at $0.21 looms as a stiff resistance. If bears maintain control, DOGE could sink to $0.14, aligning with its December 2024 lows.
In a turbulent year for the cryptocurrency market, privacy coins have emerged as the top performers, showcasing resilience amid general declines. The ability of these coins to offer enhanced anonymity
The recent drastic decline in Ether (ETH) prices, plunging over 14%, has triggered significant liquidations across decentralized finance (DeFi) platforms. As ETH struggles to stabilize, the repercussions are particularly severe
Oversight of the industry is being shifted to agencies like the SEC and state-level bodies like NYDFS and California’s DFPI. This move attracted a lot of criticism from Senator Elizabeth Warren, who warned it weakens consumer protections. Meanwhile, controversy also surrounds the SEC’s new stablecoin guidelines, which exempt certain stablecoins from securities regulations. Commissioner Caroline Crenshaw criticized the guidance as misleading, but many people in the crypto industry still welcomed it as a step toward clarity. Additionally, others in the industry increasingly consider stablecoins as a strategic asset to boost US dollar dominance globally. Trump Administration Sidelines CFPB The Consumer Financial Protection Bureau (CFPB) is expected to play a reduced role in crypto regulation as federal and state-level agencies like the Securities and Exchange Commission (SEC), the New York Department of Financial Services (NYDFS), and California's Department of Financial Protection and Innovation (DFPI) take on more responsibility. This is according to Ethan Ostroff, a partner at Troutman Pepper Locke law firm. Ostroff explained in an interview that under the current Trump administration, regulatory dynamics are shifting. This means that the CFPB will likely scale back its involvement in crypto oversight in favor of these other authorities. Although the CFPB may see diminished influence, it will not be completely dismantled due to statutory obligations that can only be altered by Congress. Ostroff also explained that while state regulators have the authority under the Consumer Financial Protection Act (CFPA) to assume some roles typically held by the CFPB, certain responsibilities will remain with the bureau by law. This changing regulatory landscape reflects the administrative agenda under the Trump administration, which includes efforts by the Department of Government Efficiency (DOGE) to cut government spending and reduce federal debt. As part of this initiative, newly appointed CFPB head Russell Vought quickly introduced major funding cuts and scaled back the agency’s operations upon taking office in February of 2025. The scaling down of the CFPB sparked a lot of political backlash. Most of this backlash came from Senator Elizabeth Warren, who co-founded the agency in 2007. Warren criticized Elon Musk, and accused him of enabling the dismantling of the bureau. In a recent interview with Mother Jones, Warren compared Musk to a ”bank robber” and warned that the administration's actions are made to weaken consumer protection measures and centralize control over the financial system. She also believes that despite these efforts, the executive branch does not actually have the authority to fully eliminate the CFPB without Congressional approval. SEC Divides Opinions with New Stablecoin Rules SEC Commissioner Caroline Crenshaw also recently voiced strong opposition to the agency’s newly released guidelines on stablecoins, and even accused the regulator of downplaying systemic risks and misrepresenting the true nature of the USD-stablecoin market. A stablecoin is a type of cryptocurrency that is designed to maintain a stable value by being pegged to a real-world asset, usually a fiat currency like the US dollar. Stablecoins aim to combine the price stability of traditional money with the speed and flexibility of digital assets. This makes them very popular for trading, remittances, and storing value. In a statement that was issued on April 4, Crenshaw criticized the SEC’s conclusions as legally and factually flawed. She argued that the guidance paints an inaccurate and overly optimistic picture of stablecoin stability and redeemability. Part of Crenshaw’s statement (Source: SEC ) The new SEC guidelines state that stablecoins meeting specific criteria are now considered ”non-securities” and are exempt from certain transaction reporting requirements. While Crenshaw condemned this approach as misleading, many people in the crypto industry welcomed the development. Industry figures like Token Metrics founder Ian Ballina and Vemanti CEO Tan Tran described the move as a positive, albeit delayed, step toward regulatory clarity. Midnight Network’s Ian Kane said that it signaled progress for crypto businesses seeking to remain compliant. Crenshaw took particular issue with the SEC's characterization of stablecoin accessibility, and pointed out that most USD-stablecoins are not purchased directly from issuers but instead via intermediaries like crypto trading platforms. She explained that more than 90% of stablecoins in circulation are distributed this way, which makes the SEC’s claim that direct-to-consumer access is a norm highly inaccurate. She also criticized the SEC’s reassurance that stablecoin reserves matching or exceeding circulating supply guarantee stability. Crenshaw warned that claims like these ignore crucial financial indicators like issuer liabilities and risk exposure from proprietary activities. She held firm that stablecoins inherently carry risk, particularly during market turbulence, and suggested that the new guidance may give users a false sense of security. The controversy came just weeks after Tether, the largest stablecoin issuer, reportedly began working with a Big Four accounting firm to audit its reserves. Tether CEO Paolo Ardoino said that the audit process will likely be more streamlined under the pro-crypto stance of the Trump administration. Stablecoins Seen as Key to US Dollar Dominance On the other hand, stablecoins are stepping up as a key strategic asset for maintaining the United States dollar’s dominance in global financial markets, according to Bryan Pellegrino, the CEO and founder of LayerZero Labs. In a recent interview , Pellegrino described stablecoins as the most powerful tool that is currently available to extend the reach of the US dollar, especially in countries plagued by inflation like Argentina and Venezuela. He referred to stablecoins as a “Trojan Horse” or “vampire attack” on weaker fiat currencies, and argued that their cross-border accessibility naturally drives global demand for the US dollar. LayerZero Labs, which developed the LayerZero interoperability protocol, was recently selected by the state of Wyoming to facilitate the distribution of its Wyoming stablecoin. Pellegrino said that he expects increasing support for stablecoins at both the federal and state levels, as they enhance the dollar’s position in foreign exchange markets and fortify its role as the world’s reserve currency. As an example of growing demand, Pellegrino pointed to Tether’s ascent as one of the largest buyers of US Treasury bills. It even surpassed countries like Canada, Germany, and Saudi Arabia. Tether became the seventh-largest holder of US Treasuries, which certainly proves the big role stablecoin issuers now play in financing US debt. The strategic value of stablecoins was also a major topic of conversation at the White House Crypto Summit on March 7. Here, US Treasury Secretary Scott Bessent stated that leveraging stablecoins to preserve and expand US dollar hegemony will be a top priority for the Trump administration in 2025. (Source: Chainalysis ) Data from a 2023 Chainalysis report revealed that more than 50% of digital asset value transferred to Latin American countries, including Argentina, Brazil, Colombia, Mexico, and Venezuela, was denominated in stablecoins. Their low fees, relative stability, and fast settlement times make stablecoins especially attractive for remittances and savings in nations that are struggling with inflation and capital controls.