24 Hrs Crypto Update, Apr 19: Crypto prices decline as investors worry
- On April 19th, Bitcoin experienced a significant drop, hitting a one-week low. This occurred as the market entered a consolidation phase after a recent bullish trend. During today's trading session, prices approached a potential breakout below the $29,000 level, which caused a wave of selling. Ethereum also experienced a decline, falling below the $2,000 mark
- Over the last 24 hours, the market value of several prominent cryptocurrencies, including BTC, ETH, LTC, and ADA, has taken a significant dip
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | 28951 | 4.50% |
| ETHEREUM | $1951 | 7.05% |
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.26 T | 4.70% |
| TRADING VOLUME | $73.70 B | 42.00% |
| Indices | LTP | Change (%) |
|---|---|---|
| Work Quest | $0.0011 | 305.24% |
| FutureCoin | $0.18 | 218.13% |
| Apricot | $0.0025 | 157.80% |
| WaultSwap | $0.0015 | 87.39% |
| AVINOC | $0.23 | 54.18% |
| Indices | LTP | Change (%) |
|---|---|---|
| DEGEN Index | $0.0000020 | 67.97% |
| Waves Ducks | $3.86 | 67.07% |
| dfohub | $0.0039 | 64.71% |
| MobieCoin | $0.000034 | 38.93% |
| GridZone.io | $0.00041 | 36.93% |
On Wednesday, Bitcoin hit a one-week low as the market consolidated
after a recent surge in prices. During today's trading session, prices approached a critical support level of $29,000, indicating a potential breakout. Additionally, Ethereum experienced a decline and dropped below $2,000.
Major Events Around the World
The New York State financial regulator has recently stated that the collapse of Signature Bank in March was not due to its involvement with cryptocurrency clients, but rather a run on the bank caused by a diverse group of depositors from various economic sectors. This statement comes after former U.S. Representative Barney Frank criticised the New York Department of Financial Services (NYDFS) for taking preemptive action against the bank's engagement with the crypto industry. Additionally, the SEC Chair's recent comments on tying the banking collapse with cryptocurrency at a congressional hearing yesterday have caused further discussion on the matter.
A bankruptcy judge in New Jersey has granted an extension to BlockFi Inc., allowing the cryptocurrency platform to file its Chapter 11 or reorganisation plan by mid-next month. The judge deemed it necessary to ensure the case proceeds smoothly, and thus, a brief delay was warranted. This decision provides BlockFi with additional time to develop a comprehensive plan that will benefit all parties involved.
The crypto division of venture capital firm Andreessen Horowitz (a16z) recently caused a stir in the media by tweeting out an orange dot. However, the purpose of this cryptic message was soon revealed as the company disclosed its ambitious plans for blockchain infrastructure in the form of Magi, a rollup client for Optimism. Despite the excitement surrounding this announcement, it's important to note that Magi is not yet ready for production. The team behind this innovative technology will need to conduct several more months of research and development before it's ready for public use.
COIN GABBAR Views: Can BTC and ETH maintain their value above $30,000 and $2,000, respectively, while other Altcoins fluctuate? Your trading strategy for BTC/USD should be tailored to your personal circumstances, risk tolerance, and portfolio structure.
Why is the Crypto Market Down Today? What Caused $250 Million in Liquidations in 24 Hours? Investors are concerned about inflation and interest rates, which has led to a decline in the market. It is essential to stay up-to-date on the latest market trends, news, technical and fundamental analysis, and expert opinions before making any investment decisions. Please stay tuned with us www.coingabbar.com
Also read: MetaMask Collaborates With Web3 Wallets to Investigate Exploit
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
