Arizona’s Bitcoin Reserve Bill, SB 1373, has successfully passed the House Committee of the Whole. The bill is now set to move forward to the Third Reading and the final floor vote. This significant step brings Arizona closer to establishing a Bitcoin reserve, potentially strengthening the state’s role in the cryptocurrency space. If approved, this bill could have lasting implications for Arizona’s approach to Bitcoin and digital assets.
Following comments by Federal Reserve Chair Jerome Powell, Ethereum’s price is struggling as it fails to validate a clear upward trend. On April 16, during a speech in Chicago, Powell stated that the Federal Reserve is not in a hurry to lower interest rates, highlighting a cautious “wait-and-see” approach that depends on further economic data. This announcement led to an increase in Ethereum’s exchange inflows, signaling increased chances of a potential bearish correction.
Ethereum Faces Rising Bearish Threats
Ethereum’s price has been trending downward, impacted by the Federal Reserve’s cautious outlook on the economy, which has dampened investor sentiment. According to data from Coinglass, Ethereum saw approximately $40.6 million in liquidations over the past 24 hours. Of this, long positions accounted for about $26 million, while short positions made up roughly $14.6 million.
The recent price decline coincided with a sharp increase in exchange reserves. On the previous day alone, more than 77,000 ETH were transferred to derivative exchanges, marking the largest single-day net inflow in several months. This sudden rise in supply increases the potential for selling pressure.
However, data from IntoTheBlock reveals that the Netflow metric remains negative, at approximately -6,800 ETH. This indicates that overall outflows have exceeded inflows, suggesting that many investors were accumulating Ethereum amid the price decline.
Coinglass further reveals that open interest for Ethereum has been rising despite the downward pressure. The OI metric surged by over 3.87%, touching over $18 billion. However, the funding rate has been trending around the negative region at 0.0015%. As a result, bears still have the control to consolidate ETH with immediate Fib support levels.
However, the current decline might turn out to be a strong rebound soon. According to a CryptoQuant analyst, Ethereum is trading close to its realized price, a level that has often signaled major rebounds in the past. The realized price, now around $1,585, is seen as a strong point for value buying.
What’s Next for ETH Price?
Ether’s attempt at a price recovery is losing momentum around EMA trend lines as bears strongly defend EMA20 level. As a result, the price is hovering around the descending resistance line. Currently, ETH price trades at $1,588, declining over 1.5% in the last 24 hours.
If sellers manage to drive the price below $1,400, it could trigger a deeper decline toward the end of the bearish channel at $1,130. This level is expected to attract buying interest, but if bearish momentum remains strong, a further drop toward $1K is possible.
On the upside, a decisive break and close above $1,700 would be the first indication that buyers are regaining control. Such a move could open the path for a rally toward $2K. Although the 50-day SMA might slow down the recovery, it is likely to be surpassed if bullish momentum builds. A strong push above $2K would suggest that the downtrend may be reversing.
The post Ethereum Eyes Another Correction as Selloff Risks Grow: What’s Next for ETH Price? appeared first on Coinpedia Fintech News
Following comments by Federal Reserve Chair Jerome Powell, Ethereum’s price is struggling as it fails to validate a clear upward trend. On April 16, during a speech in Chicago, Powell stated that the Federal Reserve is not in a hurry to lower interest rates, highlighting a cautious “wait-and-see” approach that depends on further economic data. …
The crypto market has severely declined, with Bitcoin (BTC) touching low levels of $87.7K due to Trump tariffs. In this regard, the current situation has taken a worse turn for Dogecoin (DOGE) in the market. It has caused more than $12.60 million of DOGE to be wiped out, including the rising volatility in the entire meme coin market.
However, DuragDoge ($DURAG), a new meme coin, continues to capture the hearts of investors. With its hype growing steadily and investors flocking to its presale platform, DuragDoge has become the best altcoin to buy. Its staking platform has been trending within the crypto community, making it an outstanding trading platform.
The daily active addresses of Dogecoin have declined to 36.1K, and the number of daily transactions has also decreased to 13.9K. It means that there is a withdrawal of market participation, a clear indication that traders are not fully confident. Although this may be the case in the short run, a long period of inactivity is likely to destabilize the price system since low activity levels may negatively affect volatility.
Dogecoin has also seen a small drop in its Open Interest by 0.02% to $ 1.76 billion, which indicates less optimism regarding the short-term market setup. Such conditions suggest a more conservative attitude from traders engaging in new positions, which could be explained by uncertain conditions of the price dynamics.
This decline may hinder any bullish potential from being achieved in the coming days in Dogecoin.
DuragDoge ($DURAG): Gaining Spotlight With Its Staking Platform
The hype of DuragDoge in the crypto market does indicate its mission, which is to take $DURAG from the block and take it to the world where it will not just be seen simply as monetary value. This is a blockchain trading platform whose community is characterized as being fearless, creative, and in the spirit of hustling. The project’s aim is to support the spirit of the underdog, the dreamers, go-getters, and hustlers who understand that big wins are made from bold steps forward.
One contributing factor to its hype in the market as the best altcoin to buy is its staking platform. Once staking is activated, the users of $DURAG will be able to lock their tokens for a particular period and, in return, will be rewarded with more tokens. Staking also leads to up to 20 % annual percentage yield APY, which makes staking the best crypto coin to buy.
Another reason behind DuragDoge’s rise is that no token has been allocated to its team members. This means that this project makes a guarantee to ensure that the share is distributed correctly and that all the players on the battlefield are equal; thus, this makes it the best crypto coin to buy. The token is currently sold at $0.0009, inviting investors who want to diversify their portfolio.
Conclusion
While the Dogecoin price falls flat, DuragDoge hype keeps growing speedily in the market. Because this blockchain trading platform has integrated staking features into its platform, DuragDoge is set to explode in the market. With the presale having remarkable success, DuragDoge has the potential to be the next crypto gem.
Follow Durag Doge on X and Telegram for the latest news and updates.
The post Dogecoin Flats as Tariffs Loom Yet DuragDoge’s Hype Machine Keeps Growing! appeared first on Coinpedia Fintech News
The crypto market has severely declined, with Bitcoin (BTC) touching low levels of $87.7K due to Trump tariffs. In this regard, the current situation has taken a worse turn for Dogecoin (DOGE) in the market. It has caused more than $12.60 million of DOGE to be wiped out, including the rising volatility in the entire …
Grayscale has officially filed an S-3 form with the U.S. SEC to register its Digital Large Cap Fund as an exchange-traded fund (ETF). This fund holds major cryptocurrencies, including Bitcoin, Ethereum, XRP, Solana, and Cardano. If approved, the ETF could open the door for greater institutional investment in crypto, making regulated exposure easier for big players. While regulatory approval is still pending, this move marks another step toward mainstream crypto adoption in traditional finance.
The post Grayscale Files for Crypto ETF – Will the SEC Approve? appeared first on Coinpedia Fintech News
Grayscale has officially filed an S-3 form with the U.S. SEC to register its Digital Large Cap Fund as an exchange-traded fund (ETF). This fund holds major cryptocurrencies, including Bitcoin, Ethereum, XRP, Solana, and Cardano. If approved, the ETF could open the door for greater institutional investment in crypto, making regulated exposure easier for big …
