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Crypto Prices Today April 18: Bitcoin Holds Strong at $60K

Key Takeaways
  • Bitcoin's decline is attributed to the imminent halving, anticipated to happen as early as Friday
  • Bitcoin maintains levels above $60,000, while Ethereum holds above $3,000
  • The cryptocurrency market witnesses a 1.90% decline, reducing total market capitalization to $2.38 trillion
18-Apr-2024 By: Lokesh Gupta
Crypto Prices Today

Crypto market dips 1.90%, totaling $2.38 trillion in value

  • Binance, previously banned in late 2023, is contemplating a return to India's market.

  • Crypto mining faces renewed scrutiny with the Arkansas State House passing two bills aimed at potentially restricting the activity.

Major Events To Watch

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Crypto Fear and Greed Index:

fear and greed index

The "Fear and Greed Index" dipped by 10 points, signaling heightened selling pressure, now resting at 57 out of 100. Despite this decline, the overarching market sentiment remains bearish.

Latest Market Update: 

  • Bitcoin surged past the $60,000 threshold, marking notable gains in its value trajectory.

  • Ethereum ($ETH), Dogecoin ($DOGE), Ripple ($XRP), and Solana observed declines alongside Bitcoin amidst recent market fluctuations.

  • The #Bitget Token token experienced the most significant gain, with a 6.35% increase in a 24-hour period.

  • On the other hand, #CORE emerged as the biggest loser, suffering a 24-hour dip of over 13.13%.

  • In the past 24 hours, the total trading volume in the cryptocurrency market reached $98.58 billion, marking a 1.10% increase.

  • DeFi volume stands at $7.16B, representing 7.26% of the total crypto market 24-hour volume.

  • Stablecoin volume reaches $92.55B, comprising 93.88% of the total crypto market 24-hour volume.

  • Bitcoin's dominance is presently at 53.82%, reflecting a decrease of 0.42% over the day.

Major Worldwide News Update:

  • Binance eyes a return to India's crypto market, facing a $2m penalty. Compliance with FIU registration and regulations, including PMLA, is pivotal. Past neglect led to December's web address restrictions. Regulations extend to all virtual asset transactions. India mandates KYC data collection and FIU registration for VASPs. PM Modi calls for global crypto regulations. Binance's dominance was due to tax non-compliance, leading to user migration.

  • Google records unprecedented interest in 'Bitcoin halving', doubling 2020 levels. Search score hits 45, projected to peak at 100 by month-end. The halving, reducing miner rewards from 6.25 to 3.125 BTC, is set for April 20. Interest peaks in Nigeria, Netherlands, Switzerland, and Cyprus. Despite recent price decline, historical patterns suggest a post-halving rally.

  • Arkansas State House passes bills scrutinizing crypto mining ahead of key elections. While not yet laws, they signal potential restrictions. Despite prior support for mining, recent legislative sessions show a shift. Debates continue in committees before potential adoption. Criticisms include power usage and environmental impact, with concerns about e-waste and economic losses.

  • EU antitrust regulators clear Microsoft's $13 billion stake in OpenAI, avoiding formal investigation. Microsoft's non-voting board position distinguishes it from ownership, complying with regulatory requirements. UK and US still probe potential competition impacts. Microsoft actively forms partnerships like with Mistral AI to navigate global regulations while strengthening its AI market presence.

  • BlackRock aims to expand in Saudi Arabia post Bitcoin ETF success, leveraging CEO Larry Fink's rapport with Crown Prince Mohammed. Despite challenges like human rights concerns, BlackRock eyes Saudi's economic shift from oil. The move taps into PIF's vast assets while addressing geopolitical risks. BlackRock's iShares Bitcoin Trust highlights its financial innovation prowess amidst market fluctuations.

  • New York jurors are deliberating the fate of crypto trader Avraham Eisenberg, accused of a $110 million Mango Markets attack. Testimonies focused on whether his actions were manipulation or permissible. Expert testimony was pivotal but partially dismissed. Eisenberg faces charges of commodities fraud and manipulation, with accusations of further attacks on crypto protocols.

  • Google partners with the US military, focusing on AI tools for disaster management. Bellwether, an Alphabet team, provides technology to the National Guard for quicker responses to disasters. Google's move aligns with its AI ventures. Meanwhile, it faces competition from Microsoft's Bing Copilot AI. The National Guard previously relied on human analysis for disaster responses.

COIN GABBAR Views: Will Bitcoin face another price crash? What are the implications if Bitcoin's price falls below $58,000? Is there a possibility of Bitcoin crashing below $60,000 or initiating a recovery? Will BTC test the $70,000 resistance before the halving? To get latest news Stay tuned us at coingabbar

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also Read: UK Treasury Will Finalize Crypto Regulations Plan In July

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