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James Wynn has been liquidated for 155.38 BTC valued at $16.14 million in a frenzied tussle between bulls and bears. Previously, Wynn had narrowly escaped liquidation by just $40 after making a clutch deposit of $74,000 in USDC to save his position. James Wynn Liquidated For 155.38 Bitcoin After A $40 Save Just days after
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The post How High Can Bitcoin Price Go? Exploring the Correlation Between M2 and Bitcoin appeared first on Coinpedia Fintech News
A macroeconomic chart reveals that the M2 Money Supply is starting to rise again. Historical market patterns suggest that there is a correlation between the M2 Money Supply index and the Bitcoin price index. Crypto market watchers are now eyeing a potential all-time high for Bitcoin within this quarter, if historical correlations between M2 and crypto prices hold true. Here is what you should know.
Analysing M2 is a way economists use to track all the money that is easily available in an economy. M1 is the most basic form of money, which includes cash and checking accounts. M2 is a broader measure, which includes everything in M1 plus savings accounts, money market accounts and certificates of deposit.
A macroeconomic chart, shared on X by renowned crypto analyst Michael van de Poppe, shows that the M2 money supply is starting to rise again.
A sharp rise in the M2 money supply implies that there is a significant increase in the amount of easily accessible money in the economy.
Historical market patterns indicate that there is a correlation between the M2 money supply index and the BTC price index.
When M2 increases, BTC tends to go up as well.
Currently, the Bitcoin market stands at $85,738.15. In the last seven days, the BTC market has surged by over 8%.
Michael van de Poppe predicts that if this correlation between M2 and Bitcoin continues, Bitcoin may touch a new all-time high this quarter.
Last time, while Bitcoin was inching towards an all-time high, the US was preparing to witness a political shift.
It was on January 20, hours before Trump’s inauguration, that the BTC market crossed the crucial $109K mark. Since January 21, the BTC market has declined by over 19.28%.
This crypto analyst also warns that if BTC rises with M2 supply, the global economy could see several unusual developments: decreasing bond yields, falling gold prices, declining dollar index, increasing CNH/USD, and rising altcoins.
The US 5-year Bond Yield sits at 4.021%, 10-year at 4.384%, 20-year at 4.862%, and 30-year at 4.821%. Since the start of this month, especially after the announcement of Trump’s tariffs, all these bond markets have seen steady growth.
Similarly, the Gold Spot market, which is currently priced at $3,222.885, has grown significantly during the period. On April 11, the market even touched an ATH of $3,244.
In conclusion, while a rising M2 supply brings renewed optimism for Bitcoin and the broader crypto market, investors must remain cautious. Correlations can shift and macroeconomic events may change course quickly. As analysts warn of ripple effects across asset classes, it is crucial to monitor the evolving data closely, Whether this is the start of a new rally or a temporary spike, the coming weeks will be decisive for BTC’s direction.
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
The post How High Can Bitcoin Price Go? Exploring the Correlation Between M2 and Bitcoin appeared first on Coinpedia Fintech News
A macroeconomic chart reveals that the M2 Money Supply is starting to rise again. Historical market patterns suggest that there is a correlation between the M2 Money Supply index and the Bitcoin price index. Crypto market watchers are now eyeing a potential all-time high for Bitcoin within this quarter, if historical correlations between M2 and …
Decentralized perpetual exchange (DEX) Hyperliquid (HYPE) has reached a significant milestone, surpassing $1 trillion in total perpetual contract (perps) trading volume.
This achievement comes despite a broader market downturn, where major sectors have posted losses. While there has been slight growth today, it remains minimal, highlighting the market’s challenges.
According to data from DeFiLlama, Hyperliquid perps’ cumulative trading volume has surged to $1.1 trillion. This rise in activity highlights its growing appeal among traders.
Furthermore, as reported by Dune Analytics, weekly volumes have ranged between $40 billion and $50 billion. In fact, the platform now commands over 60% of the market share among perps platforms, solidifying its position as a powerhouse in decentralized finance (DeFi).
Besides its market dominance, Hyperliquid has made headlines for being central to a major development. As BeInCrypto reported, the platform gained widespread attention after a whale trader opened a 40x leverage BTC short position worth $423 million, triggering a “whale hunt.”
Nonetheless, the developments have not done much for the platform’s native token, HYPE. Instead, it has been underperforming, maintaining a consistent downtrend.
Over the past day, it has depreciated by 3.4%. At press time, it traded at $12.9, marking lows not seen since December 2024. Moreover, the platform has faced increased scrutiny following concerns about potential money laundering.
Despite these struggles, an analyst predicted that HYPE could reach $50-$100, citing its status as the leading crypto DEX and its high-throughput Layer 1 blockchain.
In the latest X (formerly Twitter), he highlighted Hyperliquid’s impressive growth. The platform averages $6.7 billion in daily volume, a significant increase from $1.1 billion in October. This surge has increased its market share relative to Binance, jumping from 2% to 9% in just six months.
“If Hyperliquid can maintain just a fraction of its growth rate, we could see it reach ~20% of Binance’s volumes by the end of the year,” the post read.
According to the analyst, this expansion could significantly boost the HYPE token’s valuation.
“If Hyperliquid is able to reach 20% of Binance’s volume, I think we could easily see $40-50 HYPE with the uptick in earnings and a slight multiple expansion,” he said.
He also highlighted several factors that could fuel Hyperliquid’s continued success. The recent addition of native spot Bitcoin (BTC) trading, coin margin functionality, and the possibility of launching a delta-neutral stablecoin are seen as major catalysts for future growth.
Another key development is the evolution of Hyperliquid’s Layer 1 blockchain ecosystem. The platform has attracted over 50 projects and holds over $2.3 billion in USDC and BTC deposits.
The analyst added that Hyperliquid has a strong potential to establish itself as the third most used blockchain, following Ethereum (ETH) and Solana (SOL), within the next few years.
“Given ETH and SOL are worth $230 billion and $75 billion, respectively what does that make Hyperliquid’s potential L1 valuation? Even at 15-25% of ETH or SOL, that adds another $10-50 to the token price. $50 for the perps/spot/stablecoin product + another $50 for the L1 and $100 HYPE seems possible,” he predicted.
The post Hyperliquid Surpasses $1 Trillion in Perps Volume, but HYPE Token Continues to Struggle appeared first on BeInCrypto.
Coinbase Prime, the institutional arm of the popular cryptocurrency exchange, has announced it will end custody support for 49 altcoins by the end of this month.
The move will affect a range of lesser-known tokens. These include assets associated with niche blockchain projects and even real estate-related tokens.
The decision was made public in an April 14 post on X (formerly Twitter).
“We regularly evaluate the assets we support to ensure they continue to meet our standards. Based on recent reviews, Coinbase Prime will end custody support for 49 assets, effective the end of the month,” the post read.
The impacted tokens include BOSAGORA (BOA), 0chain (ZCN), pNetwork (PNT), Telcoin (TEL), and Oraichain Token (ORAI). The list also mentioned Sentinel Protocol (UPP), Cellframe (CELL), Ideaology (IDEA), and RioDeFi (RFUEL), which cater to different use cases within the blockchain ecosystem.
Even real estate and investment-related assets were impacted. 1717 Bissonnet (1717), The Edison (EDSN), Draper Garland Apartments (GFDG), Forest Crossing Apartments (GFFC), Hello Albemarle (HLAB), etc were some of the mentioned tokens.
While some of the featured tokens saw modest declines, others remained unaffected. In addition, PNT, ORAI, IDEA, and TEL have apprecaited in price over the past day.
For context, Coinbase Prime offers a suite of services designed to meet the needs of institutional investors. The platform provides custody, trading, and financing solutions. The former allows institutions to securely store digital assets, ensuring compliance and protection for large-scale investments.
Nevertheless, the latest decision to remove these assets suggests that the platform is reassessing its offerings. Coinbase has not disclosed specific reasons for removing these particular assets.
Still, the move could be linked to factors such as low liquidity, market activity, or failure to meet institutional-grade compliance standards. For institutional clients using Coinbase Prime, this change means they will need to transfer or liquidate their holdings before the end of April 2025.
According to its website, Coinbase Prime currently supports over 430 assets. Thus, the shift represents a relatively small adjustment in the broader offering.
The announcement comes as the exchange Coinbase continues to expand its portfolio. A few weeks ago, the exchange listed Doginme (DOGINME), Keyboard Cat (KEYCAT), and then Definitive (EDGE). The move led to notable price upticks for the tokens.
However, broader market conditions have negatively impacted the exchange. BeInCrypto reported that Coinbase’s stock experienced a 30% dip in Q1 2025. Moreover, the period marked the company’s worst quarter since the defunct cryptocurrency exchange FTX collapsed.
As Coinbase moves forward in a volatile cryptocurrency market, this decision to delist certain assets seems to be part of a larger strategy to concentrate on more liquid tokens and better serve the needs of institutional clients.
The post Coinbase Prime to End Custody Support for 49 Altcoins by April’s End appeared first on BeInCrypto.