Tag: latest crypto news

Cryptocurrency prices tumbled as the US stock futures market opened sharply lower on April 6 as the Trump administration doubled down on its global tariff strategy. 

The Trump administration hit all countries with a 10% tariff starting April 5, with some slapped at higher rates, including China at 34%, the European Union at 20%, and Japan at 24%.

Bitcoin (BTC) dropped over 6% in the last 24 hours and was trading around $77,883. Meanwhile, Ether (ETH) shed over 12% in the same time frame and was trading at $1,575, according to CoinGecko. The total crypto market cap dropped over 8% to $2.5 trillion. 

Prices have clawed back some losses since. Bitcoin has recovered 1.4% to $78,500. Meanwhile, Ether regained $1,594.

At the same time, the Crypto Fear & Greed Index, which measures market sentiment for Bitcoin and other cryptocurrencies, returned a score of 23 in its latest April 7 update, which is considered extreme fear.

In a statement, Charlie Sherry, head of finance at Australian crypto exchange BTC Markets, said the drop is unsurprising because global markets are generally more illiquid on Sundays.

“As a result, a few large sell-offs can have a disproportionate impact, pushing prices down quickly,” he said. 

“There’s no mystery behind the trigger: President Trump’s recent tariff talk has rattled macro markets, with global trade relations suddenly looking uncertain.” 

Some traders, however, predict a Bitcoin breakout could be around the corner. BitMEX co-founder Arthur Hayes has also speculated that while the tariffs are rattling markets, they could result in a Bitcoin rally. 

The US Stock Futures market has also opened down.

Futures tied to the S&P 500 dropped nearly 4%, according to Google Finance. Meanwhile, the tech-heavy Nasdaq lost, and the Dow Jones Industrial Average futures sank by over 8%. 

Trading resource the Kobeissi Letter said in an April 6 post to X that the drop in US stock market futures puts S&P 500 futures in ”bear market territory,” adding that the US stock market has now erased an average of $400 billion per trading day for the last 32 days. 

Tom Dunleavy, a managing partner at venture capital firm MV Global, said it could be the “worst three-day move for US stocks of all time” if “tonight’s futures hold.” 

Trump Administration doubles down on tariffs

Crypto-friendly billionaire investor Bill Ackman speculates that US President Donald Trump could postpone the tariffs to allow countries to make counteroffers or deals.

In an April 6 statement on his social media platform, Truth Social, Trump doubled down on the tariffs, saying the US has massive financial deficits with China, the European Union and many others, which the levies will solve.

Related: ‘National emergency’ as Trump’s tariffs dent crypto prices

“The only way this problem can be cured is with TARIFFS, which are now bringing tens of billions of dollars into the USA. They are already in effect, and a beautiful thing to behold,” he said.

He also told reporters aboard Air Force One that he wasn’t intentionally trying to cause a market sell-off but added that “sometimes you have to take medicine to fix something.” 

REPORTER: “Is there pain in the market at some point you’re unwilling to tolerate?”@POTUS: “I think your question is so stupid. I don’t want anything to go down, but sometimes you have to take medicine to fix something — and we have been treated so badly by other countries.” pic.twitter.com/09QBmfqzYF

— Rapid Response 47 (@RapidResponse47) April 6, 2025

At the same time, US National Economic Council Director Kevin Hassett said in an April 6 interview with ABC’s This Week program that more than 50 countries have reached out to the president to negotiate fresh trade deals.

“They’re doing that because they understand that they bear a lot of the tariff,” he said. 

US Treasury Secretary Scott Bessent urged US trading partners in an April 2 interview with Bloomberg against taking retaliatory steps, arguing “this is the high end of the number” for tariffs if they don’t try to add more levies in response. 

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

Investors who bid on the REAL (REAL) token promoted by former UFC champion Conor McGregor will receive a full refund after the project failed to raise above its $1 million minimum requirement.

“We need to be real. We didn’t hit our minimum raise,” the developers of the Real (REAL) token, Real World Gaming said in an April 6 X post, adding that “All bids will be refunded in full.”

“This is not the end,” RWG said.

The team only managed to raise $392,315 in USDC (USDC) over a 28-hour presale on April 5 and 6 — less than half of the minimum required and approximately 11% of the $3.6 million target, which was conducted via a sealed-bid auction. 

The public sale of 60 million REAL tokens (3% of the total 2 billion REAL supply) initially targeted a fully diluted value of $120 million, with the sealed bid auction starting at $0.06 per token.

Only 668 participants were involved, according to RWG’s data.

Related: Celeb tokens that burned bright, then burned out, in 2024

McGregor, a UFC fighter turned entrepreneur and Ireland political candidate, initially claimed that his token would be more legitimate than other celebrity-endorsed tokens, which have frequently resulted in rug pulls:

“This isn’t some celebrity-endorsed bullshit token, it’s a REAL game changer that will improve the crypto ecosystem as well as make REAL change in the world,” McGregor said in a statement shared with Cointelegraph.

Was REAL launched at a bad time?

The REAL token launched in the middle of a sharp market downturn — with Bitcoin (BTC) falling, while US stocks saw an estimated $6.6 trillion loss on April 3 and 4 — the largest two-day loss ever as US President Donald Trump’s tariff plans continue to raise recession fears.

Memecoins have also been cooling off since the launch of the Official Trump memecoin on Jan. 18, 2025. The Libra (LIBRA) token scandal involving Argentine President Javier Milei in late February also exacerbated the downward trend.

The once-$100 billion memecoin market has now fallen below $44 billion and is down 13% over the last 24 hours, CoinGecko data shows.

Magazine: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set

Jameson Lopp, the chief security officer at Bitcoin (BTC) custody company Casa, sounded the alarm on Bitcoin address poisoning attacks, a social engineering scam that uses similar addresses from a victim’s transaction history to fool them into sending funds to the malicious address.

According to Lopp’s Feb 6 article, the threat actors generate BTC addresses that match the first and last digits of addresses from the victim’s transaction history. Lopp analyzed the Bitcoin blockchain history for this type of attack and found:

“The first such transactions did not appear until block 797570, July 7, 2023, which had 36 such transactions. Then, all was quiet until block 819455, December 12, 2023, after which we can find regular bursts of these transactions up until block 881172, January 28, 2025, then there was a 2-month break before they started up again.”

“Over these 18 months, just shy of 48,000 transactions were sent that match this profile of potential address poisoning,” Lopp added.

The executive urged Bitcoin holders to thoroughly check addresses before sending funds and called for better wallet interfaces that fully display addresses. Lopp’s warning highlights the emerging cybersecurity exploits and fraudulent schemes plaguing the industry.  

Related: Crypto exploit, scam losses drop to $28.8M in March after February spike

Address poisoning scams and exploits claim billions in stolen user funds

According to cybersecurity firm Cyvers, over $1.2 million was stolen through address poisoning attacks in March 2025. Cyvers CEO Deddy Lavid said these types of attacks cost users $1.8 million in February.

Blockchain security firm PeckShield estimates the total amount lost to crypto hacks in Q1 2025 to be over $1.6 billion, with the Bybit hack accounting for the vast majority of the stolen funds.

The Bybit hack in February was responsible for $1.4 billion in losses and represents the biggest crypto hack in history.

Cybersecurity experts have tied the attacks to North Korean state-affiliated hackers that use complex and evolving social engineering schemes to steal cryptocurrencies and sensitive data from targets.

Common Lazarus Group social engineering scams include fraudulent job offers, zoom meetings with fake venture capitalists, and phishing scams on social media.

Magazine: 2 auditors miss $27M Penpie flaw, Pythia’s ‘claim rewards’ bug: Crypto-Sec

Last week, Bitcoin (BTC) began showing early signs of decoupling from the US stock markets. Bitcoin was relatively flat over the week, while the S&P 500 plunged by 9%. The sell-off was triggered following US President Donald Trump’s April 2 global tariff announcement, which escalated further on April 4 as China retaliated with new tariffs on US goods. Even gold was not spared and was down 1.9% for the week.

Alpine Fox founder Mike Alfred highlighted in a post on X that a gold bull market is bullish for Bitcoin. During previous cycles, gold led Bitcoin for a short while, but eventually, Bitcoin caught up and grew 10 times or more than gold. He added that it would not be any different this time.

Although the short-term outperformance of Bitcoin is an encouraging sign, traders should remain cautious until further clarity emerges on the macroeconomic front. If the US stock markets witness another round of selling, the cryptocurrency markets may also come under pressure.

A handful of altcoins are showing strength on the charts, but waiting for the overall sentiment to turn bullish before jumping could be a better strategy. If Bitcoin breaks above its immediate resistance, what are the top cryptocurrencies that may follow it higher?

Bitcoin price analysis

Bitcoin bulls have failed to push the price above the resistance line, but they have not ceded much ground to the bears. This suggests that the bulls have kept up the pressure.

The 20-day exponential moving average ($84,241) is flattening out, and the relative strength index (RSI) is just below the midpoint, signaling a balance between supply and demand.

This advantage will tilt in favor of the bulls on a break and close above the resistance line. There is resistance at $89,000, but if the level gets taken out, the BTC/USDT pair could ascend toward $100,000.

The $80,000 is the vital support to watch out for on the downside. If this level cracks, the pair could plummet to $76,606 and then to $73,777.

The pair has been consolidating between $81,000 and $88,500. The moving averages on the 4-hour chart are sloping down marginally, and the RSI is just below the midpoint, signaling the continuation of the range-bound action in the near term. 

If buyers push the price above $85,000, the pair could rally to $88,500. This level could attract sellers, but the pair may jump to $95,000 if the bulls prevail. 

The bears will be back in the driver’s seat if the price breaks below the $81,000 to $80,000 support zone. The pair may then dump to $76,606.

Pi Network price analysis

Pi Network (PI) has been in a strong downtrend since topping out at $3 on Feb. 26. The relief rally on April 5 shows the first signs of buying at lower levels.

Any recovery is expected to face selling at the 20-day EMA (0.85), which remains the key short-term level to watch out for. If the PI/USDT pair does not give up much ground from the 20-day EMA, it indicates that the bulls are holding on to their positions. That opens the doors for a rally above the 20-day EMA. The pair could then jump to the 50% Fibonacci retracement level of $1.10 and next to the 61.8% retracement level of $1.26.

The $0.40 level is the critical support on the downside. A break and close below $0.40 could sink the pair to $0.10.

The 4-hour chart shows that the bears are defending the 50-simple moving average, but a minor positive is that the bulls are trying to keep the pair above the 20-EMA. If the price rebounds off the 20-EMA, the bulls will attempt to kick the pair above $0.80. If they do that, the pair could travel to $1.20.

On the contrary, a break and close below the 20-EMA suggests that the bears have kept up the pressure. The negative momentum could pick up on a break below $0.54. The pair may then retest the vital support at $0.40.

OKB price analysis

OKB (OKB) turned up sharply on April 4 and closed above the moving averages, indicating that the bulls are attempting a comeback.

The up move continued, and the bulls pushed the price above the short-term resistance at $54 on April 6. The OKB/USDT pair could reach the resistance line of the descending channel, which is likely to attract sellers. If the price turns down sharply and breaks below $54, the pair may oscillate inside the channel for a few more days.

On the other hand, if buyers do not give up much ground from the resistance line, it increases the likelihood of a break above the channel. The pair could climb to $64 and then to $68.

The pair will complete an inverted head-and-shoulders pattern on a break and close above the neckline. The up move may face selling at the resistance line, but on the way down, if buyers flip the neckline into support, it increases the possibility of a break above the resistance line. If that happens, the pair could start its march toward the pattern target of $70.

Sellers will have to fiercely defend the neckline and quickly pull the price below the 20-EMA to prevent the rally. The pair may drop to the 50-SMA and thereafter to $45.

Related: Solana TVL hits new high in SOL terms, DEX volumes show strength — Will SOL price react?

GateToken price analysis

GateToken (GT) has been finding support at the 50-day SMA ($22.05) for a few days, which is an important level to watch out for.

The flattish moving averages and the RSI just below the midpoint do not give a clear advantage either to the bulls or the bears. A break and close above $23.18 could push the price to $24. This remains the key overhead resistance for the bears to defend because a break above it could catapult the GT/USDT pair to $26.

This positive view will be invalidated in the short term if the price breaks and maintains below the 50-day SMA. The pair may sink to $21.28 and then to $20.79.

The pair turned down from the resistance line of the descending channel pattern, indicating selling on rallies. The break below the moving averages suggests the pair may remain inside the channel for some more time.

Buyers will gain the upper hand on a break and close above the resistance line. Such a move suggests that the corrective phase may be over. The pair could rally to $23.18 and then to $24.

Cosmos price analysis

Cosmos (ATOM) is trying to form a bottom but is facing selling at $5.15. A minor positive in favor of the bulls is that they have not allowed the price to break below the moving averages.

If the price rebounds off the moving averages with force, it signals buying on dips. That improves the prospects of a break above the $5.15 resistance. If that happens, the ATOM/USDT pair could surge toward $6.50 and then to $7.17.

Contrarily, a break and close below the moving averages suggests a possible range formation in the near term. The pair could swing between $5.15 and $4.15 for a while. Sellers will be back in command on a slide below $4.15.

The bulls and the bears are witnessing a tough battle at the 20-EMA on the 4-hour chart. If the price remains below the 20-EMA, the pair could tumble to the 50-day SMA and later to $4.15. Buyers are expected to fiercely defend the $4.15 level.

Instead, if the price stays above the 20-day EMA, it signals solid demand at lower levels. The bulls will then try to push the pair to $5.15. A break and close above this resistance could start a new up move.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Stablecoins are the single best tool for the United States government to maintain the US dollar’s hegemony in global financial markets, according to LayerZero Labs CEO and founder Bryan Pellegrino.

In an interview with Cointelegraph, the CEO of LayerZero Labs, which created the LayerZero interoperability protocol recently chosen by Wyoming to be the distribution partner for the Wyoming stablecoin, said that the cross-border accessibility of dollar-pegged tokens makes them an obvious choice to drive US dollar demand. Pellegrino added:

“Stablecoins for the US dollar are the single best tool — the last Trojan Horse or vampire attack on every single other currency in the world — whether it is Argentina, whether it is Venezuela, whether it is all of the countries that have massive inflation.”

The CEO said he expects support for stablecoins on both the federal and state levels to grow because of the obvious boost stablecoins give to the US dollar in foreign exchange markets and the financial moat stablecoin-driven demand will create around the US dollar’s global reserve currency status.

Related: Certain stablecoins aren’t securities, SEC says in new guidance

US government looks to stablecoins to protect US dollar

Pellegrino cited Tether’s emerging role as one of the largest buyers of US Treasury bills in the world as evidence of the demand for US debt instruments from stablecoin issuers.

Tether recently became the seventh-largest holder of US Treasuries, beating out Canada, Germany, Norway, Hong Kong, and Saudi Arabia.

Speaking at the White House Crypto Summit on March 7, US Treasury Secretary Scott Bessent said the Trump administration would leverage stablecoins to extend US dollar hegemony and indicated this would be a top priority for officials in 2025.

According to a 2023 report from Chainalysis, over 50% of all the digital asset value transferred to countries in the Latin American region, including Argentina, Brazil, Columbia, Mexico, and Venezuela was denominated in stablecoins.

The low transaction fees, relative stability, and near-instant settlement times for dollar-pegged stablecoins make these real-world tokenized assets ideal for remittances and stores of value for residents in developing countries suffering from high inflation and capital controls.

Magazine: Bitcoin payments are being undermined by centralized stablecoins

Bitcoin (BTC) turned up volatility into the April 6 weekly close as fears of a stock market crash contrasted with bullish BTC price targets.

CNBC’s Cramer: 1987 crash not “off the table yet”

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping below $80,000 on the day, down 3% since the start of the week.

The days in between had seen several bouts of flash volatility as US trade tariffs and recession concerns stoked major losses across risk assets.

US stocks in particular recorded significant losses, with both the S&P 500 and Nasdaq Composite Index finishing the April 4 trading session down nearly 6%.

“Trump’s tariff announcement this week has wiped out $8.2 TRILLION in stock market value — more than was lost during the worst week of the 2008 financial crisis,” author and financial commentator Holger Zchaepitz summarized in a response on X.

The poor close caused some to wonder how the coming week would open, with comparisons to the “Black Monday” 1987 crash surfacing across social media.

“It’s tough to build a new, weaker, world order on the fly,” Jim Cramer, host of CNBC’s “Mad Money” segment, argued on X over the weekend.

“Frantically trying to do it but don’t see anything yet that takes the October 87 scenario off the table yet. Those who bottom-fished are sleeping with the fishes …so far.”

Cramer had previously warned over a 1987 scenario playing out live on air, but subsequently reasoned that control mechanisms in the form of market circuit breakers “could slow things down.”

Bitcoin circles also saw some daring predictions of how markets would behave in the short term. Max Keiser, the popular yet controversial Bitcoin supporter, even called for BTC/USD hitting a giant $220,000 before the end of the month.

“A 1987 style mega crash will push Bitcoin to $220,000 this month as trillions in wealth seek the ultimate safe haven: Bitcoin,” he wrote in part of an X response to Cramer. 

Bitcoin resists copycat BTC price dive

Among traders, the diverging sentiment over Bitcoin and stocks was increasingly apparent.

Related: Bitcoin crash risk to $70K in 10 days increasing — Analyst says it’s BTC’s ‘practical bottom’

After withstanding the worst of the tariff shock last week, many argued that the coming days could even result in pronounced BTC price upside.

$BTC – #Bitcoin: Ofcourse we can go lower first. However I think we will see the last push of this cycle soon. pic.twitter.com/dp6otpgE16

— Crypto Caesar (@CryptoCaesarTA) April 5, 2025

Bitcoin is gearing up for a breakout next week — the $150K run might just be starting!$BTC #Bitcoin pic.twitter.com/jNWNoiHnwo

— @CryptoELlTES (@CryptooELITES) April 5, 2025

“$BTC Volatility going lower and lower while the $VIX (Volatility Index) on Stocks has closed at the highest level since the Covid Crash in 2020,” popular trader Daan Crypto Trades acknowledged in his latest analysis.

“This is pretty unheard off and due to this compression I’m pretty confident a large move for crypto is going to occur next week as well. Whether it’s up or down comes down to whether stocks can find a bottom early in the week or not I’m assuming.”

Fellow trader Cas Abbe suggested that recent $76,000 lows on BTC/USD may end up as a classic fake breakdown.

“This looks no different than the post-ETF dump and August 2024 crash,” he told X followers. 

“I’m waiting for a weekly reclaim of $92,000 to confirm the uptrend.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The Consumer Financial Protection Bureau (CFPB) will likely see a reduced role in crypto regulations as other federal agencies like the Securities and Exchange Commission (SEC) and state-level regulators assume a bigger role in crypto policy, according to Ethan Ostroff, partner at the Troutman Pepper Locke law firm.

“I think with the current administration, my sense is, we are highly likely to see a significant pullback by the CFPB in the context of the activity by other regulators,” Ostroff told Cointelegraph in an interview.

State regulators also have the authority under the Consumer Financial Protection Act (CFPA) to assume some of the regulatory roles of the CFPB, the attorney said but also added that some regulatory functions will continue to fall within the purview of the CFPB as a matter of established law.

Ostroff cited the New York Department of Financial Services (NYDFS) and the California Department of Financial Protection and Innovation (DFPI) as regulators to keep an eye on as potential leaders of crypto regulations at the state level.

However, the attorney clarified that while the CFPB may see a diminished role during the Trump administration, the agency would not be outright dismantled during the current regime due to “statutorily mandated obligations and requirements” that require acts of Congress to change.

Related: Elon Musk’s ‘government efficiency’ team turns its sights to SEC — Report

Trump administration targets CFPB in efficiency push

The Trump administration targeted the CFPB as part of a broader push by the Department of Government Efficiency (DOGE) to slash government spending and reduce the federal debt.

Russell Vought, the recently appointed head of the CFPB, announced major funding cuts to the agency and scaled back operations within days of assuming the helm at the CFPB in February 2025.

Massachusetts Senator Elizabeth Warren criticized Elon Musk for dismantling the CFPB, which the US senator co-founded back in 2007.

Warren characterized Musk as a “bank robber” and claimed that the Trump administration dismantled the CFPB to undo consumer protection rules and have greater control over the financial system.

In a February 12 interview with Mother Jones, the senator stressed that the Executive Branch of government does not have the statutory authority to fully dismantle the CFPB, which can only be done through Congressional approval.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered