BTC Update 04/15/2024, 62139 (+4.4%)

Apr 15, 2024

Journal time: April 14th-15th. 7am-7am UTC+7

Market Movers:

Bears regained control, causing Bitcoin to drop to $59,889 on April 14th, a level not seen in over a week.
The global crypto market valuation fell to $2.2 trillion due to the Bitcoin decline.
Tension surrounding the Iran-Israel conflict contributed to the market drop, leading to massive liquidations of over $860 million in the derivatives market.
Iran fired over 100 drones toward Israel on April 13, escalating the tension and causing Bitcoin to drop to a 1-month low area before rebounded slowly.
Despite the liquidations, Bitcoin advocate Edward Snowden emphasized that there is no reason to panic.

The U.S. SEC is exploring the prospect of leveling charges against Uniswap, the largest Ethereum-based decentralized exchange (DEX) in the world.
Uniswap received a Wells Notice from the SEC, indicating their intention to pursue legal action. UNI, the exchange's native token, dropped 17% to $9.27 following the news.
The U.S. Treasury is seeking greater authority to crack down on crypto use by sanctioned entities like North Korea, Russia, and Iran.
Congress is discussing the introduction of a bipartisan bill to regulate stablecoins.
Former Ethereum advisor Steven Nerayoff initiated a $9.6 billion lawsuit against the U.S. government for alleged harsh treatment over the past four years.
Russia's central bank called on lawmakers to quicken the introduction of a bill regulating the use of cryptocurrencies for international settlements amid U.S. sanctions.
Hong Kong crypto exchanges are battling regulatory uncertainty, prompting firms to explore moving overseas.
British Columbia seeks to regulate the crypto-mining industry to address high energy consumption.

Solana witnessed increased network adoption, with DEXs on Solana accounting for most of the DeFi trading volume.
Growing interest in meme coins on Solana, such as Bonk (BONK) and dogwifhat (WIF), contributed to the increased activity.
Congestion issues arose due to increased network activity, and Anza, a Solana developer team, deployed an update to address the issue.

Since recent sell-off of April 14h low , BTC rose 8%, bringing the price up to $65365 (04.15.24.05:15)
The recent drop could be attributed to a massive surge in Net Taker Volume, the second-largest increase ever observed in the last few days.
The largest cryptocurrency rose as much as 5.9% and traded around $64,600 as of 11:40 a.m. in London on Sunday.
Smaller coins like Polkadot and Uniswap rallied more than 10%, while Ether advanced 5%.
Coinglass data shows about $1.5 billion of bullish crypto wagers via derivatives were liquidated on Friday and Saturday.
Stock markets in the Middle East were mostly in the red on Sunday, with Israel equities trading slightly lower.
A significant military escalation between Israel and Iran would test the notion that Bitcoin is a safe haven in times of turmoil.
Crypto speculators are awaiting the Bitcoin halving, expected around April 20, which will reduce new supply of the token by half.

Limit order

Long 1: 63820

Long 2: 62139.5

Prediction expired at 04/16/24.07:00 am UTC+7.

No position opened.