Crypto traders dealing in POPE memecoin bet big on papal succession following the death of Pope Francis
The bounce in Bitcoin, Riya Sehgal, research analyst, Delta Exchange, said, came as hedge funds aggressively sold the dollar against major currencies
This price stability, even as rate cuts are taken off the table for May, Riya Sehgal, research analyst at Delta Exchange, said, underscores crypto's evolving market maturity and its growing appeal
Investors' confidence, analysts said, stands strong as the White House plans to establish the Bitcoin Strategic Reserve using alternative government revenue sources
Following a strong recovery, the flagship cryptocurrency, Bitcoin, which had briefly touched $82,300, is stabilising around $80,000 as markets absorb softer-than-expected US CPI data
The Dollar Index (DXY) slipped to 103, diverging from Treasury yields-a trend that could support Bitcoin's near-term price action
Bitcoin has traded in the range of $74,436.68 to $81,119.06 in the last 24 hours
The sell-off extended into the crypto markets too, with Ethereum (ETH), the world's second-largest cryptocurrency by market capitalisation, taking the worst hit among other popular cryptocurrencies
The flagship cryptocurrency's drop from its Thursday high of $88,500, analysts said, reflects heightened investor caution following President Trump's tariff announcement
Bitcoin's next resistance, analysts said, stands at $87,800, while support rises to $81,700
Bitcoin briefly tested resistance at $85,526 before pulling back, signaling potential consolidation in the near term
He expects the funds to come into the digital network from Russian real estate, Chinese private equity, and markets in Africa and South America
Bitcoin, Fink said, represents both a disruptive innovation and a geopolitical risk, particularly if the US government fails to address its rising debt and fiscal deficits
The escalation of trade tensions following US President Donald Trump's tariff announcement, analysts believe, has injected fresh volatility into traditional markets
Market analysts suggest that the recent movements in the crypto market reflect a mix of resilience and caution. Investors should keep an eye on US jobless claims and GDP data due later today
Historically, April has been a strong month for Bitcoin, with an average monthly gain of 13 per cent, raising expectations among market participants
The world's largest cryptocurrency by market capitalisation, Bitcoin, nevertheless, has been holding steady above the $86,000 mark
Bitcoin surged past the $87,000 mark over the weekend, with bulls maintaining control and defending lower levels
Jiwal emphasised the importance of the handbook in equipping investigators with the necessary expertise to handle crypto cases effectively
The price of Bitcoin rallied to $95,083 per piece on Sunday from $78,225 on Friday following Trump's announcement. It normalised to $83,687 on Tuesday at the time of writing this report