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In a move signaling potential stabilization for both the crypto and stock markets, the US Treasury Department has unveiled plans for a significant refunding and buyback initiative. BitMEX co-founder Arthur Hayes has shed light on the macroeconomic factors influencing recent market sentiment shifts, notably highlighting the infusion of tax receipts amounting to a substantial $200 The post Crypto Market Recovery? US Treasury Announces $125M Refunding, Buyback Plan appeared first on CoinGape .

Crypto Market Recovery? US Treasury Announces $125M Refunding, Buyback Plan

U.S. Senator Cynthia Lummis has criticized the Department of Justice (DOJ) for its recent interpretation of regulations surrounding non-custodial software wallets. In the view of Senator Lummis, the DOJ’s method is inconsistent with the past advice provided by the Treasury, which considers such wallets as means of potential money transmissions. This contradiction, she believes, may The post Senator Lummis Vows to Protect Bitcoin Against DOJ Overreach appeared first on CoinGape .

Senator Lummis Vows to Protect Bitcoin Against DOJ Overreach

Amid the broader market correction, the Ethereum coin witnessed a three-day losing streak with its price falling from $3286 to $2888 accounting for 12%. The recent fall backed by increasing volume hints at the sellers’ conviction to lead the asset value lower as BTC goes Sub-60K. However, an analysis of the daily chart shows the The post What Historical Trends Hint for Ethereum Price Behavior in May? appeared first on CoinGape .

What Historical Trends Hint for Ethereum Price Behavior in May?

Texas A&M Professor Korok Ray announced the launch of the Bitcoin Research Institute to explore the integration of Bitcoin and artificial intelligence.

Texas A&M Professor to Launch Bitcoin Research Institute

Market slowly losing steam, and it may lead to bearish market reversal

Catastrophic Bitcoin (BTC) Plunge, XRP Is Surprisingly Calm, Cardano (ADA) Loses Lifeline Support Level

Michael Saylor announced the Orange protocol for decentralized identification, hoping to anchor digital identities in the dominant blockchain.

MicroStrategy Is Building ‘Decentralized ID’ on Bitcoin Using Ordinals-Like Inscriptions

Riot’s net income was boosted by a 131% year-on-year increase in Bitcoin’s price despite the cryptocurrency becoming more difficult and expensive to mine.

Bitcoin miner Riot Platforms reports record $211M Q1 net income

Bitcoin has recently concluded April, marking its most significant monthly decline. Despite the bearish momentum, leading market analysts, including Michael van de Poppe, believe that the worst may soon be over, suggesting that Bitcoin is nearing the end of its current correction phase. Bitcoin At The End Of Correction? April was challenging for Bitcoin, as its value plunged nearly 20%, dipping below $57,000, the lowest level traded since late February. Related Reading: Bitcoin’s Profit Crunch: Hash Price Hits Record Low Post-Halving—What’s Next For Miners? This drop is part of an intense market sell-off that has slashed the combined cryptocurrency market cap by nearly 10%, bringing it down to $2.2 trillion. Amid these declines, Michael van de Poppe, a revered figure in the crypto analysis space, provided hope. In his recent statements on the social platform X, Van de Poppe suggested that Bitcoin’s current price levels might be nearing the bottom of this correction cycle. He highlighted the critical price range of $56,000 to $58,000 as pivotal for Bitcoin’s short-term trajectory, indicating potential areas for a rebound. #Bitcoin is at the end of the correction. It’s already down 20% from the highs and we’ll have some more downside to happen from here. If the correction continues, then I think the green zones between $56-58K are essential to watch.#Altcoins to bounce before. pic.twitter.com/4Mu3NA1HSg — Michaël van de Poppe (@CryptoMichNL) May 1, 2024 A Closer Look At Predictions And Market Sentiments Van de Poppe isn’t alone in his optimistic outlook. Other analysts, like Checkmate, an on-chain expert, have analyzed Bitcoin’s historical data to predict future movements. Checkmate introduced the term “chopsolidation,” describing it as a phase of stagnant yet volatile market conditions that could precede a significant bullish run. He expects this phase to last about six months, followed by a potential 6 to 12 months of explosive growth reminiscent of past cycles. Furthermore, historical data from Bitcoin’s Halving years support the theory that after a halving event, the market tends to perform strongly towards the end of the year. Related Reading: Expert Makes Bold Call: It’s Time To Swap Your Dollars For Bitcoin However, there are not all optimistic forecasts in the crypto realm. The spot Bitcoin ETF market witnessed over $300 million in net outflows in April, breaking a three-month streak of inflows, reflecting a broader sentiment of caution among investors. Moreover, Charles Edwards, founder of Capriole Investments, has voiced concerns over the market’s extraordinary bullishness, warning of the necessity for corrections within such a volatile asset class. “Sell in May and go away.” This looks like distribution to me. As long as we trade below $61.5K, scenario (1) is technically more likely. A strong reclaim of $61.5K would give some hopes to the bulls for scenario (2). A flush would also be good for the sustaining continuation of… pic.twitter.com/6E3oJ1vgs3 — Charles Edwards (@caprioleio) May 1, 2024 Featured image from Unsplash, Chart from TradingView

Bitcoin Bottom Out? Analyst Signal Turnaround Amid Market Slump

Green cryptocurrencies are making waves as sustainable investment avenues in the ever-evolving digital currencies. At the forefront is BlockDAG, acclaimed for its innovative technology and minimal ecological footprint, boasting a presale collection of over $21.7 million. This overview highlights the top five green cryptocurrencies, including Stellar (XLM), Chia (XCH), Hedera (HBAR), and Cardano (ADA), each The post Join The Biggest Bull run In History With These Green Coins: BDAG, XLM, XCH, HBAR, ADA appeared first on Live Bitcoin News .

Join The Biggest Bull run In History With These Green Coins: BDAG, XLM, XCH, HBAR, ADA

The recent U.S. scrutiny could suggest an impending crackdown on cryptocurrency operations, investors believe.

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