Cooler Bitcoin
April 26, 2024 @ 11:48 +03:00
Market picture
Market Dynamics: The cryptocurrency market stabilised, losing just 0.1% of capitalisation and dropping to $2.37 trillion over the last 24 hours. After the halving, the bulls intensified their efforts to boost prices, but by the end of the week, the bears took the initiative.
![](https://fxpro.news/wp-content/uploads/2024/04/bitcoinweekly_240426.png)
Bitcoin under pressure: Bitcoin has been losing value (0.7%) since early Friday, reaching $64.2K, despite rising 1.2% the day before. The currency continues to correct, remaining at the bottom of the range set in March. The RSI is signalling a possible further decline in price.
Mining gets harder: Bitcoin’s mining complexity increased by 1.99%, reaching a record of 88.1 T, with an average hashrate of 726.3 EH/s.
![](https://fxpro.news/wp-content/uploads/2024/04/bitcoin-difficulty_240426.png)
News background
Morgan Stanley and BTC-ETF: The bank is considering including spot bitcoin-ETFs in its list of recommendations for its brokers.
Wallet growth: The number of bitcoin wallets over $1,000 has doubled since last year to 10.6 million.
Morgan Creek forecasts: The company’s CEO predicts baby boomers will invest more than $300bn in cryptocurrencies in the coming year.
Ethereum ETF: According to Reuters, management companies expect the U.S. SEC to reject applications for spot Ethereum-ETFs after “disappointing” discussions. The SEC has only held a handful of meetings on Ethereum funds.
Stablecoin Act: Standard & Poor’s notes that a payment-stablecoin bill introduced in Congress has the potential to undermine Tether’s dominance. USDT is issued by a non-US company and would be banned from circulation in the US.
The FxPro Analyst Team