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Crypto Prices April 25: BTC Falls to $64K, Market in the Red

Key Takeaways
  • Currently, Bitcoin is hovering near $64,000, while Ethereum trades under $3,150.
  • The cryptocurrency market has seen a moderate 3.60% decline, pushing the total market capitalization to $2.49 trillion.
25-Apr-2024 By: Lokesh Gupta
Crypto Prices April

Crypto market dips 3.6%, hitting $2.49 trillion in valuation

  • The crypto market faced added volatility following legal action against Samourai Wallet’s CEO and CTO by the U.S. DOJ.

  • Amid market confusion and HBAR price fluctuations, Archax CEO clarifies BlackRock's role in Hedera tokenization.

Major Events To Watch

forex factory

Crypto Fear and Greed Index:

fear and greed index

Currently, the "Fear and Greed Index" registers 72/100, signaling optimism. This suggests sustained upward momentum above 70.

Latest Market Update: 

  • #Bitcoin ($BTC) dipped below $64,000, found support, and bounced back above the $64,000 level.

  • #Starknet ($STRK), #Worldcoin ($WLD), #dogwifhat ($WIF), #Bonk ($BONK), and Jupiter ($JUP) recorded sharp declines, each falling by over 10%.

  • The #EOS token witnessed the most significant increase, rising by more than 6.60% in the past 24 hours.

  • Conversely, #Hedera saw the largest decline, plummeting by over 35.56% in the same period.

  • In the past 24 hours, the total crypto market volume reached $84.96B, showing an 18.44% increase.

  • DeFi volume stands at $6.52B, comprising 7.68% of the total crypto market volume over 24 hours.

  • Stablecoin volume hits $78.43B, representing 92.31% of the total crypto market volume in the past 24 hours.

  • Bitcoin dominance currently sits at 53.48%, reflecting a 0.09% day-over-day increase.

Major Worldwide News Update:

  • In the past 24 hours, the broader cryptocurrency market experienced selling pressure, with Bitcoin and top altcoins dropping 4-10%. Bitcoin dipped 4.00% below $64,150 amid weak US economic demand. US Composite PMI Output Index fell to 50.9 in April, indicating easing business activity and slight inflation decrease. Despite Fed's interest rate hikes, inflation concerns persist. Peter Schiff warns of potential Bitcoin decline below $60,000.

  • In Asia, Upbit emerges as a leading exchange with 80% of South Korea's crypto trading volume. Despite regulatory measures, it rivals global giants like Coinbase. New legislation aims to protect investors but could strengthen Upbit's dominance. South Koreans show strong crypto interest, impacting politics and market dynamics.

  • Amid Middle East tensions and post-halving volatility, Bitcoin, ETH, and major altcoins briefly tumbled following the arrest of Samourai Wallet founders by the US DOJ. The news triggered widespread liquidation of long positions. Geopolitical tension escalated in the Middle East, contributing to market decline despite positive investor sentiment.

  • BlackRock denies any commercial ties with Hedera or tokenizing funds. HBAR surged over 100% after a misinterpreted announcement. BlackRock clarifies its non-involvement. HBAR subsequently fell 32.8%. Archax CEO clarifies their role. Despite a price surge, HBAR remains significantly below its 2021 peak.

  • BlackRock iShares Bitcoin Trust (IBIT) experienced its first day with $0 inflows since US Bitcoin ETFs launched in January. Despite a 71-day streak of attracting millions, IBIT saw no new investments on April 24. Most other Bitcoin ETFs also faced a dry spell, with GBTC recording significant outflows.

  • The European Parliament passed a rule to combat AML violations and terrorist financing, establishing the AMLA in Frankfurt. It grants access to beneficial ownership information and mandates thorough due diligence by obliged entities. Media reports previously inaccurately linked it to a crypto transaction ban, causing concern among enthusiasts.

  • TikTok CEO Shou Zi Chew pledges to challenge the US ban, confident in prevailing legally. President Biden's law requires ByteDance, TikTok's owner, to sell its US stake within a year. Failure leads to a potential ban. The app's economic impact and importance for US businesses highlight the stakes.

COIN GABBAR Views: Is Bitcoin's price trimming gains amid war escalation? Can bulls rescue the day? Will BTC hit $60K this week? Could the coin crash by over 50% as the FOMO rally fades? To get latest news Stay tuned us at coingabbar

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Also Read: Worldcoin Price Prediction: Is $50 the Next Stop for WLD?

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