Crypto Rollercoaster: Bitcoin Rebounds Amid Market Turmoil and Regulatory Heat
April 14, 2024Bitcoin and other major digital currencies saw a significant drop of 7-8% amid Iran-Israel tensions, but recovered by 8.3% on Sunday.
After seven months of growth, the market is cooling down, with Bitcoin now trading between $50,000 to $80,000.
The crypto market cap fell by 5.2%, reducing to $2.43 trillion and sparking discussions on altcoin investment strategies.
Volatility in the crypto market is highlighted by a $440 million drop in Solana open interest.
The upcoming Bitcoin 'halving' could cause mining company revenues to plummet, risking industry-wide losses of approximately $10 billion.
A Binance executive evaded arrest in Nigeria, was located in Kenya, and is facing extradition.
A former Amazon engineer received a three-year prison sentence for stealing $12 million from two decentralized exchanges.
Cryptocurrencies saw mixed results: TONCOIN, NEO, and UNUS SED LEO up by 19.47%, 10.21%, and 1.12% respectively, while Core, Wormhole, and Uniswap faced significant losses due to SEC sell-off warnings.
Despite the current uncertain market sentiment, the Solana-based meme coin Slothana (SLOTH) presale raised over $10 million in two weeks, indicating a potential bullish trend.
Summary based on 64 sources
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Sources
Yahoo Finance • Apr 14, 2024
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