Cryptocurrency Financial News

Bitcoin came into existence in January 2009, the virtual digital asset (VDA) has established itself as the largest cryptocurrency in the world. More than 350 million individuals globally invest in Bitcoin, and the launch of Bitcoin ETFs earlier this year has only ensured its rising popularity and acceptance as an alternate currency, especially among young investors. Bitcoin has also been instrumental in the rise of other cryptocurrencies, the development of blockchain technology and overall growth in the number of individuals associated with it. However, all cryptocurrencies, including Bitcoin, remain unregulated to date and come with the risk of significant volatility. The price fluctuations have long kept millions of investors far away from the world’s oldest cryptocurrency, but the adoption rate of it has increased considerably in the last couple of years. In fact, India is currently the world's second-largest cryptocurrency market by estimated transaction volume, which underlines its rapidly rising popularity.

A recent survey conducted by the Digital Currency Group and The Harris Group has revealed that  a majority of  Americans in swing states view the financial system as  “ outdated. ” 

US jobs data renewed bets that the Federal Reserve would likely ease rates this year. Bitcoin, the largest cryptocurrency by market value, rose 1.5% to $64,340, while the second-largest digital token, Ethereum, gained 3% to $3,184.

price surge in the past seven months, Bitcoin lost over 16% in April making it the worst month for the cryptocurrency since November 2022. This marks a notable shift from the euphoria of the hype cycle built around the Bitcoin halving event that occurred on April 18. The downward spiral is triggered mainly because of outflows from spot ETFs (exchange-traded funds) in the US. ET explains the factors behind current market volatility. What is Bitcoin Halving?

While that type of dislocation is typically a troubling sign for an ETF, the chief investment officer of one issuer called it “more an accounting quirk than a real issue” due to the unusual way in which the funds track the value of their assets.

Bitcoin's value plummeted by 5.2% to $59,950 during Wednesday's trading session as investors braced for crucial economic data and awaited the Federal Reserve's interest rate decision later in the day. The Federal Reserve Open Market Committee gathers on Tuesday for its monetary policy meeting, which is expected to culminate on Wednesday with a decision to leave the Fed funds target rate in the 5.25% to 5.50% range.

cryptocurrency market experienced a decline in Monday's trading session, with Bitcoin slipping 2.3% to $62,300, while Ethereum fell 4.3% to $3,170. In addition, the global cryptocurrency market cap decreased by 2.94% to approximately $2.31 trillion over the last 24 hours.

Zach Bruch, the Founder and CEO of online crypto casino MyPrize, sat down with Cryptonews Podcast’s Matt Zahab for a comprehensive interview.

cryptocurrency, also saw a decline of over 3% to $3,156. Other major cryptocurrencies also experienced declines, with Solana (-6.8%), XRP (-4%), Dogecoin (-6.4%), Toncoin (-6.5%), Cardano (-6%), Shiba Inu (-7.7%), and Avalanche (-9.1%) all registering losses.

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Cardano Blockchain founder Charles Hoskinson reminded the cryptocurrency community of digital currencies’ true purpose and ethos in a sentimental April 25 X post . He emphasized that their use case extends far beyond trading.

Dogecoin, Toncoin, and Shiba Inu recorded gains, trading up to 4% higher. Conversely, XRP, Cardano, Polkadot, Chainlink, and NEAR Protocol saw losses, trading down by up to 2%. The global cryptocurrency market cap surged by 0.9% to around $2.47 trillion in the last 24 hours.

Dogecoin, Toncoin, Shiba Inu, and Chainlink experienced losses, trading down by up to 8%. The global cryptocurrency market cap surged marginally by 0.28% to around $2.45 trillion in the last 24 hours.

Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict. As of 10:36 am IST, Bitcoin was trading 0.9% higher at $62,200. Meanwhile, Solana (3.8%), Toncoin (13%), Chainlink (1%), and Internet Computer (4.3%) were also trading higher.

April is reco gnized as National Financial Capability Month in the U.S. to highlight financial education across the country. 

Every four years, the Bitcoin network undergoes a significant change known as "halving", a process that reduces the rewards for mining new blocks by half. This mechanism is built into Bitcoin’s protocol to control inflation and cap the total supply at 21 million coins. Halving events, therefore, are pivotal, highly anticipated occasions within the cryptocurrency community, often triggering speculation and market volatility.

The crypto market also declined after the recent data have not been helpful, with inflation stalled well above the U.S. central bank's 2% target for the first quarter of the year.

BNB, Solana, Dogecoin, and Cardano showed gains, trading up to 2% higher. Meanwhile, Ethereum, XRP, Toncoin, Internet Computer, and Uniswap experienced losses, trading 1-3% lower. The global cryptocurrency market cap rose marginally by 0.13% to around $2.64 trillion in the last 24 hours.

U.S. consumer price data due on Wednesday will be closely watched by investors as they seek direction on the next move in interest rates. The data is expected to show a rise in headline inflation to 3.4% year-on-year, from 3.2% in February.

XRP, Dogecoin, Avalanche, Toncoin and Tron soared up to 4.46%. Among the losers were Cardano, Solana, BNB, USDt, and Polygon declined by 1.50% around this time. Bitcoin sustained its position above the $69,000 mark, exhibiting a period of consolidation in recent days.

Bitcoin halving events have historically provided global investors with successive bullish momentum that have often resulted in all-time high levels. As the Bitcoin halving event in 2024 approaches on April 19, questions have been raised about whether the market will repeat itself once again or not. Investors are waiting eagerly for the appropriate moment to invest in the world's largest cryptocurrency, with lingering questions about whether it would be the right time to invest. Bitcoin price action history suggests that similar to the halving events of the past, the halving event on April 19 could provide an opportunity for investors to invest their capital in the cryptocurrency. It showed a steep climb from $42,000 at the beginning of the year to $72,000 on March 12 to establish a brand new all-time high level. The development came only a week after it had toppled the 2021 all-time high of $68,729. During this time, the US Federal Reserve maintained the interest rates. However, the rates are expected to be slashed in the later months of 2024.