Bitcoin demonstrates surprising resilience as it holds above the critical $80,000 level, defying extensive volatility in global equities. Despite the turmoil, analysts suggest that the prevailing demand for Bitcoin indicates
Bitcoin ( BTC ) price dodged the chaotic volatility that crushed equities markets on the April 4 Wall Street open by holding above the $82,000 level. BTC/USD 1-hour chart. Source: Cointelegraph/TradingView US stocks notch record losses as analysts predict “long trade war” Data from Cointelegraph Markets Pro and TradingView showed erratic moves on Bitcoin’s lower timeframes as the daily high near $84,700 evaporated as BTC price dropped by $2,500 at the start of the US trading session. Fears over a prolonged US trade war and subsequent recession fueled market downside , with the S&P 500 and Nasdaq Composite Index both falling another 3.5% after the open. S&P 500 1-day chart. Source: Cointelegraph/TradingView In ongoing market coverage, trading resource The Kobeissi Letter described the tariffs as the start of the “World War 3” of trade wars.” BREAKING: President Trump just now, "WE CAN'T LOSE!!!" A long trade war is ahead of us. https://t.co/babI1cf5wi pic.twitter.com/6KCsHp0a8v — The Kobeissi Letter (@KobeissiLetter) April 4, 2025 “Two-day losses in the S&P 500 surpass -8% for a total of -$3.5 trillion in market cap. This is the largest 2-day drop since the pandemic in 2020,” it reported . The Nasdaq 100 made history the day prior, recording its biggest single-day points loss ever. The latest US jobs data in the form of the March nonfarm payrolls print, which beat expectations, faded into insignificance with markets already panicking. Market expectations of interest rate cuts from the Federal Reserve nonetheless edged higher, with the odds for such a move coming at the Fed’s May meeting hitting 40%, per data from CME Group’s FedWatch Tool . Fed target rate probabilities comparison for May FOMC meeting. Source: CME Group Bitcoin clings to support above $80,000 As Bitcoin managed to avoid a major collapse, market commentators sought confirmation of underlying BTC price strength. Related: Bitcoin sellers 'dry up' as weekly exchange inflows near 2-year low For popular trader and analyst Rekt Capital, longer-timeframe cues remained encouraging. #BTC Bitcoin is already recovering and on the cusp of filling this recently formed CME Gap $BTC #Crypto #Bitcoin https://t.co/ZDvsF6ldCz pic.twitter.com/PSbAESmqnY — Rekt Capital (@rektcapital) April 4, 2025 “Bitcoin is also potentially forming the very early signs of a brand new Exaggerated Bullish Divergence,” he continued , looking at relative strength index (RSI) behavior on the daily chart. “Double bottom on the price action meanwhile the RSI develops Higher Lows. $82,400 needs to continue holding as support.” BTC/USD 1-day chart with RSI data. Source: Rekt Capital/X Fellow trader Cas Abbe likewise observed comparatively resilient trading on Bitcoin amid the risk-asset rout. “It didn't hit a new low yesterday despite stock market having their worst day in 5 years,” he noted to X followers. “Historically, BTC always bottoms first before the stock market so expecting $76.5K was the bottom. Now, I'm waiting for a reclaim above $86.5K level for more upward continuation.” BTC/USDT perpetual futures 1-day chart. Source: Cas Abbe/X Earlier, Cointelegraph reported on BTC price bottom targets now including old all-time highs of $69,000 from 2021. This 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.
The cryptocurrency market is trying to recover from recent losses. Cardano and Ripple show signs of potential upward movements. Continue Reading: Crypto Market Battles to Recover as Key Altcoins Show Signs of Strength The post Crypto Market Battles to Recover as Key Altcoins Show Signs of Strength appeared first on COINTURK NEWS .
Bitcoin Magazine Bitcoin Covenants: CHECKSIGFROMSTACK (BIP 348) This is the second article in a series deep diving into individual covenant proposals that have reached a point of maturity meriting an in-depth breakdown. CHECKSIGFROMSTACK (CSFS), put forward by Brandon Black and Jeremy Rubin with BIP 348, is not a covenant. As I said in the introductory article to this series, some of the proposals I would be covering are not covenants, but synergize or interrelate with them in some way. CSFS is the first example of that. CSFS is a very simple opcode, but before we go through how it works let’s look at the basics of how a Bitcoin script actually works. Script is a stack based language. That means that data is “stacked” together on top of each other on the stack, and operated on by removing an item from the top of the stack to operate on based on what an opcode does, either returning the data or a result from it to the top of the stack. There are two parts of a script when it is ultimately executed and verified, the “witness” provided to unlock the script, and the script included in the output being spent. The witness/unlocking script is “added” to the left side of the locking script, and then each element is added to (or operates on) the stack one by one left to right. Look at this example (the “ | ” marks the boundary between the witness and script): 1 2 | OP_ADD 3 OP_EQUAL This example script adds the value “1” to the stack, then the value “2” on top of that. OP_ADD takes the top two elements of the stack and adds them together, putting the result back on to the stack (so now all that is on the stack is “3”). Another “3” is then added to the stack. The last item, OP_EQUAL, takes the top two items of the stack and returns a “1” to the stack (1 and 0 can represent True or False as well as numbers). A script must end with the last item on the top of the stack being True, otherwise the script (and transaction executing it) fails and is considered consensus invalid. This is a basic example of a pay-to-pubkey-hash (P2PKH) script, i.e. the legacy addresses that start with a “1”: | DUP HASH160 EQUALVERIFY CHECKSIG First the signature and the public key are added to the stack. Then DUP is called, which takes the top stack item and duplicates it, returning it to the top of the stack. HASH160 takes the top stack item (the public key duplicate), hashes it, then returns it to the top of the stack. The public key hash from the script is put on top of the stack. EQUALVERIFY functions the same as EQUAL, it grabs the two top stack items and returns a 1 or 0 based on the outcome. The only difference is EQUALVERIFY also runs VERIFY after EQUAL, which fails the transaction if the top stack item is not 1, and also removes the top stack item. Finally CHECKSIG is run, which grabs the top two stack items assuming them to be a signature and a pubkey, and verifies the signature implicitly against the hash of the transaction being verified. If it is valid it puts a 1 on top of the stack. How CSFS Works CHECKSIG is one of the most used opcodes in Bitcoin. Every transaction, with almost no exceptions, makes use of this opcode at some point in one of its scripts. Signature verification is a foundational component of the Bitcoin protocol. The problem is, there is almost no flexibility in terms of what message you are checking the signature against. CHECKSIG will only verify a signature against the transaction being verified. There is some flexibility, i.e. you can decide with some degree of freedom what parts of the transaction the signature applies to, but that’s it. CSFS aims to change this by allowing a signature to be verified against any arbitrary message that is pushed directly onto the stack, instead of being limited to the verification of signatures against the transaction itself. The opcode follows a very basic operational structure: | CSFS The signature and message are dropped on top of the stack, then the public key on top of them, and finally CSFS grabs the top three items from the stack assuming them to be the public key, message, and signature from top to bottom, verifying the signature against the message. If the signature is valid, a 1 is placed on the stack. That’s it. A simple variant of CHECKSIG that lets users specify arbitrary messages instead of just the spending transaction. What Is CSFS Useful For So what exactly is this good for? What is the use of checking a signature against an arbitrary message on the stack instead of against the spending transaction? Firstly, in combination with CTV it can provide a functionality equivalent to something that Lightning developers have wanted since the very beginning, floating signatures that can attach to different transactions. This was originally proposed as a new sighash flag for signatures (the field that dictates what parts of a transaction a signature applies to). This was needed because a transaction signature covers the transaction ID of the transaction that created the output being spent. This means a signature is only valid for a transaction spending that exact output. This is a desired behavior for Lightning because it would allow us to do away with channel penalties. Every past Lightning state needs a penalty key and transaction in order to ensure that your channel counterparty never uses any of them to try to claim funds they don’t own. If they try you can claim all their money. A superior functionality would be something that allows you to simply “attach” the current state transaction to any previous one to stop the theft attempt by distributing funds correctly as opposed to confiscating them. This can be accomplished with a basic script that takes a CTV hash and a signature over it that is checked using CSFS. This would allow any transaction hash signed by that CSFS key to spend any output that is created with this script. Another useful feature is delegation of control of a UTXO. The same way that any CTV hash signed by a CSFS key can validly spend a UTXO with a script designed for that, other variables can be passed into the script to be checked against, such as a new public key. A script could be constructed that allows a CSFS key to sign off on any public key, which then could be validated using CSFS and used for a normal CHECKSIG validation. This would allow you to delegate the ability to spend a UTXO to anyone else without having to move it on-chain. Lastly, in combination with CAT, CSFS can be used to compose much more complex introspection functionality. As we will see later in the series though, CSFS is not actually required to emulate any of this more advanced behavior, as CAT alone is able to do so. Closing Thoughts CSFS is a very basic opcode that in addition to offering simple useful functionality in its own right composes very nicely with even the most simple covenant opcodes to create very useful functionality. While the example above regarding floating signatures specifically references the Lightning Network, floating signatures are a generally useful primitive that are applicable to any protocol built on Bitcoin making use of pre-signed transactions. In addition to floating signatures, script delegation is a very useful primitive that generalizes far beyond delegating control over a UTXO to a new public key. The same basic ability to “sideload” variables after the fact into a script validation flow can apply to anything, not just public keys. Timelock values, hashlock preimages, etc. Any script that hardcodes a variable to verify against can now have those values dynamically added after the fact. On top of that, CSFS is a very mature proposal. It has an implementation that has been live on the Liquid Network and Elements (the codebase Liquid uses) since 2016 . In addition Bitcoin Cash has had a version of it since 2018. CSFS is a very mature proposal that goes back conceptually almost as long as I have been in this space, with multiple mature implementations, and very clear use cases it can be applied to. This post Bitcoin Covenants: CHECKSIGFROMSTACK (BIP 348) first appeared on Bitcoin Magazine and is written by Shinobi .
It was another big week in the cryptocurrency markets, filled with notable developments and big price moves propelled by US President Donald Trump’s global political actions. More precisely, his Trade War that escalated this week. In what he called ‘Liberation Day,’ the POTUS announced massive tariffs against numerous countries, including some of the country’s biggest partners. That was on April 2 and they should be incorporated on April 5. Naturally, many countries and regions decided to fight back by announcing tariffs of their own. The latest to do so was China, which earlier today imposed a 34% retaliatory tariff on all goods imported from the United States. These developments led to substantial volatility in all financial markets, including crypto. Bitcoin began the business week with a price slide to $81,200 but quickly started to regain traction and skyrocketed to just over $88,000 on Wednesday amid reports that Trump will remove Elon Musk from his inner circle. However, that was just hours ahead of the tariff announcements on ‘Liberation Day’ and BTC quickly reversed its trajectory. In a matter of just a few hours, the cryptocurrency plunged by several grand and fell to $82,300. Its rebound was unsuccessful and bitcoin dumped to $81,200 on Thursday. Another failed recovery attempt transpired today when BTC neared $85,000, but then the Chinese retaliation tariffs came on. Bitcoin reacted with an immediate plunge to $81,600. It now struggles below $83,000, being 2.5% down weekly. More substantial weekly losses come from several altcoins, led by TON (-14%), LINK (-11%), SIU (-12.5%), and SOL (-10%). ETH, ADA, BNB, and DOGE are also deep in the red. Market Data Weekly Market Overview: Source: QuantifyCrypto Market Cap: $2.748T | 24H Vol: $112B | BTC Dominance: 59.8% BTC: $82,720 (-4.5%) | ETH: $1,788 (-5.3%) | XRP: $2.1 (-4.2%) This Week’s Crypto Headlines You Can’t Miss Arthur Hayes Predicts Money Printing Boom, Bullish for Bitcoin . With everyone focused on the Trade War, multiple experts have rushed to offer their opinion on how these uncertain times can impact BTC and the financial markets. Arthur Hayes outlined his positive prediction, indicating that bitcoin has to maintain this level by US tax day (April 15) to remain in a bull cycle structure. Here’s Why Ethereum (ETH) Continues to Bleed, According to CryptoQuant . Ethereum continues to underperform, with its price tanking below $1,800 earlier this week. CryptoQuant named a few reasons behind ETH’s struggles, including the diminishing network activity. Are Trump’s Tariffs Impacting Cryptocurrencies as Expected? Santiment Weighs In . The tariffs implemented by Trump and replicated by numerous other countries in response have an undeniable and immediate impact on BTC and the crypto market. However, what are the long-term effects? You can find out here . Stablecoin Issuer Circle Files for IPO After Big Revenue Report . The more positive regulatory landscape in the United States allowed Circle, the company behind the second-largest stablecoin, to file for an Initial Public Offering (IPO). This came after a strong revenue report from the firm for Q1, 2025. Metaplanet Increases Bitcoin Holdings to 4,046 BTC with Latest Acquisition . Metaplanet, following the example by Michael Saylor’s Strategy, seems unfazed by the global economic uncertainty and continues to purchase BTC frequently. Saylor’s company did the same this week. Bitcoin, Ether Post Worst First Quarter Performance in 7 Years . Despite the big expectations for February and March, Q1 of this year turned out to be the worst for the two largest cryptocurrencies by market cap. BTC dropped by just shy of 12%, while ETH’s price tumbled by more than 45%. Charts This week, we have a chart analysis of Ethereum, Ripple, Cardano, Shiba Inu, and Solana – click here for the complete price analysis . The post Massive Bitcoin, Altcoin Volatility as Trump’s Trade War Triggers Retaliation: This Week’s Crypto Recap appeared first on CryptoPotato .
Data centers already consume over 20% of Ireland’s electricity and more than 10% in several U.S. states. But where will that energy come from in the future?
Raydium’s dominance in Solana-based memecoin trading has increased to 83% over the past three months, even as overall memecoin market activity declined. According to Memecoins in Q1 2025 report by CEX.io , Raydium has seen its memecoin trading volume surge to 83% despite the contraction in the overall memecoin market activity and market cap. Memecoins were riding high on speculative momentum in January following high-profile political launches like the Trump ( TRUMP ) and Melania ( MELANIA ) tokens. At their peak, memecoins accounted for 11% of total crypto trading volume on Jan. 20, the CEX.io report noted. However, by April 1, the memecoin market cap had plummeted by 58% from its January high, with their share of trading volume falling to just 4%. Source: Memecoins in Q1 2025 report by CEX.io Despite the decline in the overall memecoin market activity, Raydium’s share of memecoin trading volume has increased from 77% to 83% in the first quarter of 2025. This is the direct result of the exchange’s unofficial partnership with Pump.fun , which is responsible for the daily creation of over 50% of SPL tokens. Once these memecoins hit a $69K market cap, they were automatically listed on Raydium. You might also like: Pump.fun reportedly testing in-house AMM that could replace Raydium However, with Pump.fun recently launching its own DEX for memecoins, it’s uncertain how this will affect Raydium’s standing in the memecoin trading ecosystem. Despite Raydium’s launch of its own memecoin launch platform, LaunchLab , much of its past revenue came from memecoins migrating from Pump.fun. Experts have pointed out that the success of launchpads like Pump.fun is largely driven by their community and lore, which will be difficult for Raydium to replicate. To summarize, while Raydium’s share of memecoin trading volume increased in Q1, much of that growth was fueled by Pump.fun token migration. Now that Pump.fun has introduced its own DEX, Raydium may face a significant hit to its trading volume. The extent of that decline will likely hinge on the success or failure of its own LaunchLab platform. You might also like: Raydium launches Pump.fun clone, industry reception divided
In a significant development for the stablecoin ecosystem, recent data from WhaleAlert revealed that the USDC Treasury executed a burn of 50.35 million USDC on the Ethereum blockchain mere minutes
Solana price has stalled at a crucial make-or-break support level that could determine its next direction. After peaking near $300 in January, SOL price now sits around the key level at $120. This article explores whether its rising transaction count and decentralized exchange volume will help it bounce back. Solana Price Could be Supported by Transaction Count that Beats Ethereum Solana has been criticized in the past few months because of the prevalence of meme coins and rug-pull scams in its platform. Indeed, data by CoinGecko shows that all Solana meme coins now have a market cap of under $7 billion , down from $30 billion earlier this year. Still, there are signs that the Solana network is doing well. One bullish factor is that it still leads in terms of the number of transactions in its ecosystem. Data shows that its transaction count in the last seven days stood at 334.8 million, which helped its fees to rise by 17% to $6.25 million. Solana also has over 24.52 million addresses. In contrast, Ethereum handled 8.37 million transactions in the last seven days, and made fees worth $4.16 million. It had less than 2 million active accounts in this period. This performance is a sign that the Solana network is still doing much better than Ethereum despite its challenges. TokenTerminal data shows that Solana has made $861 million in fees in the last 180 days, higher than Ethereum’s $756 million. More data shows that protocols in the Solana ecosystem handled over $11.2 billion in the last seven days, a 18% increase from a week earlier. While Ethereum’s volume of $12 billion was higher, Solana is seeing faster growth. Solana DEX Volume SOL Price Technical Analysis as it Sits at a Make-or-Break Point The daily chart shows that the Solana price may be about to make a strong bullish breakout if the current support level holds. It has failed to move below $119 at least seven times since April last year, a sign that short sellers are afraid of shorting below this level. It has historically bounced back by double digits whenever it dropped to this support point. Solana price has formed a small double-bottom pattern at $119.75, and its neckline is at $146.80, its highest point on March 25. Most importantly, it has retested the descending trendline that connects the highest levels since January 30. This trendline is the upper side of the falling wedge pattern, a popular bullish reversal sign. Therefore, the most likely SOL price forecast is where it bounces back and retests the crucial resistance at $193.65, its highest level on July 29, up by 65% from the current level. This view will become clearer if Solana rises above the neckline at $146.80. Solana price chart A drop below the psychological level at $115 will invalidate the bullish outlook, and point to further declines below $100. The post Solana Price Pattern Points to a 65% Surge as Key Metric Beats Ethereum by Far appeared first on CoinGape .