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Bitcoin price is under threat from fresh geopolitical pressures, with the chances of an Iranian retaliation against the US surging to 66%. The flagship cryptocurrency has traded above $100K for over 40 days, but the US-Iran conflict is sending prices to new lows. Bitcoin Slips Below $101K Driven By Fears Of An Iranian Retaliation According
The post Breaking: Bitcoin Crashes Below $100K As Odds Of Iranian Retaliation Rise To 66% appeared first on CoinGape.
The post Altcoin Bull Run Ahead? Top Analyst Says the Bottom Is In! appeared first on Coinpedia Fintech News
Altcoins may have just hit rock bottom — and that might be great news for crypto traders. According to popular analyst Michael van de Poppe, market signals are now pointing to a turnaround.
While some analysts warn that Bitcoin’s growing dominance is delaying the altcoin season. Could things be finally shifting in favor of altcoins?
Let’s break it all down.
Van de Poppe points out that traditional markets, especially gold, are weakening. Gold has failed to break above $3,365 and is now trending lower. Poppe says this downtrend could be a good sign for riskier assets like altcoins, especially if economic data turns worse and rate cuts are announced.
Meanwhile, further fed rate cuts would mean more liquidity in the market — often good news for altcoins.
Van de Poppe also shared another chart showing the OTHERS/BTC ratio (which tracks altcoins vs. Bitcoin) forming a strong base. He believes we’re in the final phase of a bottoming process, supported by bullish divergence on the charts.
This pattern has marked previous cycle lows — and each time, altcoins staged a strong comeback shortly after.
On the flip side, crypto analyst Tony Severino suggests that Bitcoin’s dominance in the crypto market recently touched 65.66%. That’s a strong signal that Bitcoin is still leading the pack, especially with the Relative Strength Index (RSI) reading around 60 on major timeframes.
Severino warns that as long as these conditions hold, altcoins will likely remain stuck.
Looking at the altcoin season index, it currently stands at 22, suggesting bitcoin is dominating the market.
The post Altcoin Bull Run Ahead? Top Analyst Says the Bottom Is In! appeared first on Coinpedia Fintech News
Altcoins may have just hit rock bottom — and that might be great news for crypto traders. According to popular analyst Michael van de Poppe, market signals are now pointing to a turnaround. While some analysts warn that Bitcoin’s growing dominance is delaying the altcoin season. Could things be finally shifting in favor of altcoins? …
Over a week after the Zksync hacking incident, the exploiter agreed to a bounty and returned a significant portion of the loot.
Despite recovering stolen funds, the network’s powering token, ZK, continues to exhibit bearish sentiment.
On April 15, the Ethereum-based Layer-2 scalability solution, ZKsync, suffered a hack. The compromised account controlled $5 million worth of ZK tokens. As BeInCrypto reported, the incident had caused a 16% price drop.
The incident was controversial after some community members noticed some concerning data. The revelations led to dire allegations, with some likening ZkSync to Mantra (OM). To some, ZKsync responded to the hack by dumping their assets at an accelerated pace.
“The ZkSync team has released 110 million tokens and sold 66 million. The price of ZK is going against the trend as the market is recovering, and it has immediately dropped by 15%. First OM, now ZK, this project seems to be heading in the wrong direction,” one user noted.
This bordered on embezzlement. However, in a recent development, the ZKsync Association revealed that the hacker returned 90% of the funds, effectively honoring the safe harbor deadline.
Through an April 21 post on X (Twitter), the ZKsync Security Council offered the hacker a 10% bounty if they returned the stolen funds, allowing a 72-hour window.
“To resolve this matter amicably in the spirit of safe harbor, we are offering a 10% bounty for your cooperation if you return 90% of the funds involved in the exploit,” ZK Nation shared on X.
As it happened, the bad actor heeded, transferring almost $5.7 million to the ZKsync Security Council across three transfers on April 23.
Specifically, they sent two transfers on the ZKsync Era blockchain. The first involved sending $1.83 million worth of Ethereum (ETH) to the ZKsync Security Council’s ZKsync Era address, and the second involved sending $2.47 million worth of ZKsync tokens.
In the third transaction, the ZKSync hacker sent 776 ETH worth approximately $1.4 million to the ZkSync Security Council’s Ethereum address.
With this, the ZKsync Association committed to publishing a final report revealing more details about the security incident.
Meanwhile, it is worth noting that the hacker followed instructions given by the ZKsync Security Council to the letter. Based on this, the case closes without further action.
It mirrors past incidents, including Ronin Bridge hackers returning $10 million worth of ETH and earning a $500,000 bounty.
Despite the turn of events, however, the ZK token continues to display bearish sentiment, down by nearly 2% in the last 24 hours. As of this writing, ZKsync’s token was trading for $0.06.
Meanwhile, not all hacking incidents honor safe harbor offers. Recently, Bybit launched a bounty program offering up to 10% of recovered funds to ethical hackers and cybersecurity experts.
This incentivized efforts to reclaim $1.4 billion in stolen assets. While some efforts to reclaim lost assets yielded results, the partial recovery was thanks to key industry players stepping in, not the exploiter.
Meanwhile, other ecosystems leverage bounty programs to bolster security. Cardano’s Charles Hoskinson recently offered a $1 million bounty for hacking the new Lace Paper Wallet, testing its security.
Similarly, Uniswap announced a record-breaking $15.5 million bug bounty targeting critical vulnerabilities in its v4 core contracts.
The post ZKsync Price Falters Despite 90% of Stolen Funds Returned Within Safe Harbor Deadline appeared first on BeInCrypto.
After a massive crash at the beginning of the month, the crypto market braces for a crucial week as the Federal Reserve prepares for the interest rate decision. After cryptocurrencies nearly lost a trillion, the central bank’s move is essential for the investors as its decision could impact not only digital assets but other financial markets. Let’s discuss.
At present, the biggest contributor to the crypto market, Bitcoin, trades at $83,2K, with the rest of the altcoins exhibiting the same consolidatory performance. As a result, the global digital assets market cap is just $2.72T, and the trading volume is $69.74B. Also, the investor sentiments are still in a fear zone amid economic uncertainty.
In addition, the FOMC meeting and the Federal Reserve interest rate decision could decide the performance of the cryptocurrencies. If the Fed implements a rate cut (lower interest rate), the market could witness high liquidity.
More importantly, this could influence investors to take the risks. As a result, this is the bullish scenario for the cryptocurrencies, where Bitcoin and altcoin could seek high returns, especially if the Fed ends QT.
The market’s performance would be unexpected if the Fed decided to keep the interest rate study. The volatility may or may not increase, but the investors’ disappointed sentiments could impact the market momentarily.
Lastly, the rate hike scenario, which is unexpected, could bring downward pressures as crypto traders move toward safer assets rather than digital assets. All these possibilities will bring different results.
Experts believe the Fed will keep the interest rates unchanged, increasing the chances of bullish outcomes. However, various other factors also need to align as many other macroeconomic events could impact the cryptocurrencies.
Beyond the Federal Reserve interest rate decision, several other macroeconomic factors could influence this week’s cryptocurrency market. The key factors include U.S. jobless claims, U.S. retail sales, February Housing Starts data, geopolitical developments, etc.
Additionally, the upcoming Trump and Putin meeting to discuss the Ukraine peace policy could also have a significant impact.
Other worldwide events like Japan’s and England’s Interest rate decisions could also have a significant impact. Investors must stay updated with the market and remain cautious this week.
Bitcoin is following a highly bullish pattern at present. The same pattern led to a massive rally for gold in the 1970s. Over the years, BTC price can surge to $250k due to this bullish pattern, and the Federal Reserve interest rate cuts could play an important role in that.
However, the different scenarios could impact the crypto market differently. More importantly, macroeconomic factors like U.S. jobless claims could influence the market. Investors must be prepared for volatility ahead.
The post How Will Federal Reserve Interest Rate Decision Impact Crypto Market this Week? appeared first on CoinGape.